Author: News Room
On March 19, Brian Armstrong, the CEO of Coinbase, appeared on Bloomberg TV to discuss various aspects of the cryptocurrency industry, including the impact of spot Bitcoin ETFs on Coinbase’s business, his meetings with lawmakers in Washington, D.C., and the potential approval of spot Ethereum ETFs. Spot Bitcoin ETFs and Coinbase’s Business Armstrong began by addressing the positive impact of spot Bitcoin ETFs on Coinbase. Contrary to concerns about these ETFs diverting business away from the platform, he noted that Coinbase had actually seen an influx of capital into the system, amounting to about $12 billion. He emphasized that Coinbase…
Recent statistics reveal that the layer two (L2) network Arbitrum has experienced a significant increase in daily transactions. On Tuesday, the network’s daily transactions even exceeded those on the Ethereum platform. Additionally, following Ethereum’s Dencun upgrade, other L2 networks such as Optimism have also witnessed an uptick in activity. Arbitrum Transfers Spike Metrics indicate that […] Read the full article here
Crypto whales deposited about $58 million worth of the Ethereum (ETH) layer-2 scaling solution Arbitrum (ARB) into crypto exchanges after the project had a massive token unlock over the weekend, according to the blockchain tracker Lookonchain. Lookonchain notes that 11 whales deposited 34 million ARB into exchanges after the unlock. Arbitrum unlocked 1.11 billion ARB tokens on March 16th, according to the crypto tracker TokenUnlocks. That total represents nearly 42% of the asset’s circulating supply. Blockchain tracking firm Lookonchain notes that 673.5 million ARB worth $1.37 billion was unlocked for the Arbitrum team, future team and advisors, and 438.25 million…
A UK digital asset firm reportedly transferred millions of dollars in cryptocurrency to a wallet of an alleged Russian arms dealer who was later sanctioned by the US government. According to a new Guardian report, the cryptocurrency firm Copper Technologies allegedly transferred more than $4.2 million in digital assets to a crypto wallet belonging to Jonatan Zimenkov, an Israeli-born Russian national. The transfer reportedly occurred about 19 months before Zimenkov faced US sanctions for his alleged role in Russia’s invasion of Ukraine. In a February 2023 press release, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC)…
Leverage traders are staring at over $654,000,000 in losses after Bitcoin (BTC) suddenly dipped to $62,000, a more than 8% decline from the day’s high. According to crypto data aggregator Coinglass, more than 232,029 traders suffered $654.34 million in liquidations during the last 24 hours – mostly from leveraged longs. Crypto exchange OKX hosted the largest number of liquidations at $244.55 million, followed by Binance, the world’s largest crypto exchange, at $239.60 million. The largest single liquidation order happened on OKX in the BTC/USDT pair for a value of $12.25 million, according to Coinglass. Bitcoin is trading nearly 14% below…
Former Binance CEO Changpeng Zhao says he plans to launch an initiative to provide free education at the elementary and high school levels. Zhao, also known as CZ, tells his 8.9 million followers on the social media platform X that he intends to launch the Giggle Academy to reduce adult illiteracy rates, which are disproportionately higher in South Asia, West Asia and sub-Saharan Africa. Says Zhao, “My next project: Giggle Academy (No logo yet). Free basic (grade 1-12 ish) education, for all. No revenue. Gamified. Adaptive. Read the concept paper at giggleacademy.com. We are hiring. Small team, work directly with…
The Ethereum Foundation has been issued its first subpoena by an unknown “state authority” — a development disclosed after the foundation removed the “Warrant Canary” from its website.The disclosure was made in a GitHub repository update and marks a significant moment of government interaction with the foundation.The event has raised several questions about the implications for the future of Ethereum and its related financial products, notably the pending approvals of Ethereum Exchange-Traded Funds (ETFs).Warrant CanaryThe removal of the Warrant Canary is generally understood to indicate that an organization has received a legal request that likely includes a confidentiality requirement, suggesting…
The total value of assets locked on the decentralized exchange (DEX) WOOFi plunged by nearly 20% to $45 million after it confirmed it was exploited via a flashloan attack.The hackEarlier today, WOOFi detailed how it fell victim to a hacking episode within 13 minutes.The project explained that a hacker diligently manipulated its Synthetic Proactive Market Making (sPMM) algorithm by orchestrating a series of flash loans.Leveraging the platform’s low liquidity, the hacker significantly disrupted the price of the WOO token by borrowing approximately 7.7 million WOO tokens alongside other assets and dumped them on the platform.This maneuver triggered an erroneous valuation…
The official X account of Trezor, a renowned hardware wallet manufacturer, fell victim to a devastating compromise, likely organized through a SIM swap attack. The breach resulted in fraudulent messages flooding the platform, promoting fake token sales and wallet scams. Trezor Account Breach The alarm was first raised by ZachXBT, an anonymous on-chain sleuth, who, on March 19, alerted users to the suspected breach. Posts emanating from Trezor’s compromised account propagated a fictitious “$TRZR” token presale supposedly on the Solana network. Users were duped into sending funds to a malicious Solana wallet address, falling prey to the fraudulent scheme. Community…
When it comes to discussing digital currencies, Bitcoin has become incredibly popular among investors. And at the same time, the platforms that allow you to transact Bitcoin. Such a platform is Cash App. Cash App, a popular payment app, lets you buy, sell, and hold Bitcoin. Verifying your Bitcoin on Cash App is crucial for secure and legitimate transactions. That’s why, in this guide, we’ll walk you through the steps to verify your Bitcoin on Cash App, making sure your transactions are safe and smooth. What Does It Mean to Verify Bitcoin on Cash App? In general, verifying Bitcoin on…