News

In recent days, the Solana network has been the victim of a widespread attack that has affected over 8000 user accounts. So far, the culprit behind the hack has drained wallets of more than $8M worth of crypto assets.  According to the Solana team, it appears only Slope wallets have been susceptible to the hacks so far. No Bugs On Solana’s End Solana’s security personnel claims to have identified the origin of the breach. In an update that went up…

Billionaire Bitcoin maximalist Michael Saylor has relinquished his role as CEO of MicroStrategy, according to a company announcement on Tuesday. He spoke with CNBC the following day about the rationale behind the executive transition and his company’s financials. No Changes to the Bitcoin Plan In conversation with CNBC’s Squawk On The Street, Saylor reviewed MicroStrategy’s stock performance over the past two years. Despite tremendous volatility, it is ultimately up 123% since it first invested in Bitcoin in August 2020. That’s…

In the aftermath of the Terra collapse, firms like CoinShares and Hashed are still reeling from significant losses.  CoinShares Records a £17.8 million Loss On Tuesday, CoinShares Europe’s biggest digital asset investment firm released its financial results for the 2nd quarter of the year. Following the Terra-Luna debacle, the firm’s investment in the stablecoin ecosystem experienced a one-off loss, scaling £17.8 million. CoinShares’ Capital Markets business bore the brunt of the crash, the report revealed. However, their Asset Management arm…

The decentralized exchange aggregator 1inch has announced an integration with the fiat/crypto payment platform Wirex. This integration will bring 1inch API to Wirex’s non-custodial wallet, providing it with direct token swap functionality. According to a press release shared by 1inch, the integration will also use 1inch’s pathfinder to let Wirex users find the most favorable rates for their trades.  “The Wirex integration is a natural step for 1inch, which always strives for universal application and mass adoption of its products…

On Tuesday, the European Central Bank (ECB) released the results of a study examining the ideal model for cross-border payments. According to the paper, next to options such as Bitcoin (BTC) and stablecoins, CBDCs come out on top. ECB Pursues the "Holy Grail" While Bitcoin and other crypto solutions have been touted as excellent options for cross-border payments, the European Central Bank thinks otherwise. In fact, the ECB thinks a rather perfect solution would possess some particular attributes they believe…

American jewelry retailer Tiffany & Co. has partnered with blockchain firm Chain to offer CryptoPunk holders exclusive necklaces. The high-end jewelry brand revealed this news via a tweet on July 31. [embed]https://twitter.com/TiffanyAndCo/status/1553811244536270852[/embed] NFTiff is a collection of 250 digital passes, which the firm is offering CryptoPunk holders. Each pass has a price tag of 30 Ether (ETH), and buyers can redeem their passes to get a custom-designed pendant that resembles their CryptoPunk. Additionally, Tiffany & Co. will offer buyers an…

The acquisition deal between Thai-based crypto exchange Bitkub and SCB X is still in the due diligence stage. Bitkub Capital Group Holdings CEO Jirayut Srupsrisopa revealed this news during an interview with Bloomberg TV on August 1. In the interview, Srupsrisopa said, I can’t mention about the deal publicly yet because it’s under the due-diligence process. But everything is still in the same timeline. That’s all I can mention about the deal. SCB X, the parent company of Thailand’s oldest…

Vitalik Buterin – co-founder of Ethereum – labeled MicroStrategy CEO Michael Saylor a “total clown” over Twitter on Saturday. The developer’s comment was in response to a clip of Saylor discussing Ethereum, securities laws, and the latter’s supposedly “biblical” basis. Saylor and Bitcoin Maximalists Chatting with the Not Investment Advice podcast in mid-July, Saylor spoke at length about Ethereum’s relationship with securities law. In one segment, he suggested that securities laws are rooted in biblical commandments, such as “thou shall…

Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The Crypto Market ends the week at a total market capitalization of $1,102 billion. Bitcoin has increased by nearly 5% this week. Ethereum gained almost 7% over the past seven days. XRP is up by nearly 8% this past week. Almost all altcoins are trading in the green, with very few exceptions. The DeFi sector dropped the total value protocols (TVL) to $40.79 billion. Crypto Trends…