Featured on homepage

Tether – the issuer of the world’s largest stablecoin, USDT – has released a statement responding to the Wall Street Journal (WSJ)’s latest claims about the status of its reserves. It labeled the outlet’s assertions as “a series of unsubstantiated conclusions” seeking to discredit Tether’s attempts to remain transparent with the public. Claims from WSJ In an article published on Saturday, WSJ reviewed parts of Tether’s history and accounting process that make its reserve dependability seems less than ideal. One…

Michael Saylor – Executive Chairman of MicroStrategy – is being sued by the city of DC for tax fraud. Attorney General Karl Racine alleged that the billionaire hasn’t paid his income tax in the capital city for over a decade. Tax Fraud by Michael Saylor? As confirmed in a tweet from the AG on Wednesday, Saylor allegedly evaded DC’s tax laws by misrepresenting his place of residence.  It’s the first lawsuit brought under the city’s recently amended False Claims Act…

Brian Brooks – CEO of blockchain technology company BitFury – recently spoke on the state of the economy, crypto markets, and the regulatory situation. He said that both the Federal Reserve and SEC’s approaches to markets harm Bitcoin in the short term.  Bitcoin VS The SEC During an interview with CNBC on Monday, Joe Kernen began by asking Brooks whether regulation was a net cost or benefit for crypto. He specifically referenced Securities and Exchange Commission (SEC) Chairman Gary Gensler,…

The Nitro upgrade for Ethereum layer-2 scaling solution Arbitrum is slated to take place on Wednesday, August 31. Arbitrum shared updates regarding the forthcoming upgrade in a Twitter post late last night.  Arbitrum Announces Nitro Launch Date The Ethereum-based scaling solution employs L2 structure, optimistic rollups to process transactions outside the Ethereum mainnet. Arbitrum completes operations in large batches off-chain before delivering them on Ethereum. With Nitro, however, the network should raise its transaction throughput and cut down transaction fees.…

Data from blockchain analytics firm CryptoQuant reveals that over 5,000 Bitcoin more than 7 years old were moved on Saturday. According to the company’s community manager “Maartuun” on Twitter, this could be a sign of further downside to come.  In a post on Sunday, Maartuun shared a chart showing the on-chain movement history of bitcoins during various timeframes.  Exactly 5,019 BTC that hadn’t moved in 7 to 10 years were transferred in one block on August 28. One block is…

Mt Gox creditor Eric Wall has dismissed ongoing rumors that the infamous crypto exchange is disbursing BTC. Wall, who functioned as CTO of crypto investment company Arcane Assets, revealed this in a recent Twitter thread. Rumors of a BTC Dump Nearly 10 years ago, Mt Gox crumbled following a hack that saw it lose 850,000 Bitcoins. The team later announced that they had shut down the platform’s services and filed for bankruptcy. However, not long after several angry clients kicked…

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 $967 billion. Bitcoin has dropped by over 6% this week. Ethereum lost almost 9% over the past seven days. XRP is down by nearly 3% this past week. Almost all altcoins are trading in the red, with few exceptions. The DeFi sector decreased the total value protocols (TVL) to around $34 billion. Crypto Trends…

According to a recent report, in his affidavit, Su Zhu, co-founder of bankrupt crypto hedge fund, Three Arrows Capital, expressed worries about potential jail time. Zhu delivered his affidavit in Thailand earlier this month, noting his concerns and sharing some other thoughts. Zhu Concerned a Prison Sentence Might Be on the Way Earlier this year, 3AC was caught in the crossfire of the Terra crash leading the firm to a messy demise of its own. In late June, a court…

According to founder Charles Hoskinson, the Cardano blockchain network is set to undergo its Vasil hard fork upgrade in September. Hoskinson revealed this in a video yesterday where he discussed the forthcoming upgrade.  If No Major Bugs Show Up, Vasil Could Go Live in September At the moment, the Cardano devs are working alongside the community and running tests on node version 1.35.3. As Hoskinson noted, the team is using a lot of community infrastructure for the upgrade. However, he…