A pre-mined stash of Ethereum, dormant for nearly eight years and now valued at roughly $116 million, has been moved abruptly. This transaction raises questions about potential market implications and whether it could trigger a notable price dip for Ethereum. Eight years ago, during Ethereum’s pre-mine period, the wallet accumulated a total of 61,216 ETH.
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Hong Kong’s rapid adoption of cryptocurrencies and Web3 is a sign of some “big moves” happening in mainland China, a co-founder of the local game software firm Animoca believes. The current crypto trend in Hong Kong is “not really just about” the city-state, but about wider China, despite mainland China banning crypto, according to Animoca
Forge, a subsidiary of Société Générale — the third-largest bank in France — became the first company to obtain the highest access license for providing crypto services in the country — a prerequisite for numerous service activities (PSAN). The provider will have a right to custody digital assets, to purchase and sell them for legal
Bankrupt crypto lender Celsius is battling a Chapter 11 bankruptcy with billions of dollars in claims made by various parties. A new estimate by the Bank of the Future (BF) suggests that the troubled crypto lender could likely repay the USD claims if the price of Bitcoin and Ether, the two assets that the firm
Bitcoin (BTC) is still almost a year away from its next block reward halving, but Litecoin (LTC) miners are already bracing for impact. In less than two weeks, Litecoin’s block subsidy will drop from 12.5 LTC to 6.25 LTC per block. Whales stock up on LTC — but BTC value stays weak Despite its fair
Bitcoin (BTC) mining companies are employing derisking strategies by offloading BTC to exchanges, according to a market report from Bitfinex. The cryptocurrency trading platform’s latest newsletter addresses the Bitcoin mining sector at length, highlighting a recent surge in miners selling large volumes of BTC to exchanges. This has led to a corresponding increase in the
Vitalik Buterin portrait from 2014 auctioned as NFT An image of the Ethereum co-founder Vitalik Buterin taken back in 2014 is being auctioned off as a nonfungible token (NFT). The portrait was taken by Canadian photographer Andrew Miller and was taken before the popular developer became famous for the blockchain network. The NFT sale also
A wallet address containing pre-mined Ethereum worth $116 million moved its entire stash of 61,216 Ether (ETH) to an address in the Kraken crypto exchange after lying dormant for eight years. In June 2014, the Ethereum ecosystem conducted a sale event, allowing early team members and co-founders to participate and accumulate pre-mined Ether, at a
The XRP price recorded a stunning rally after district judge Analisa Torres published the summary judgment in the legal battle between Ripple and the Securities and Exchange Commission (SEC). But after rising by almost 100 % temporarily on the day of the decision, the XRP price saw an initial consolidation. Now, price could break out
Democratic presidential candidate Robert F. Kennedy Jr. has promised to progressively back the United States dollar with Bitcoin (BTC) if he is elected president. Speaking at a July 19 Heal-the-Divide PAC event, Kennedy claimed that backing the U.S. dollar with what he called “hard currency,” including gold, silver, platinum or Bitcoin, could help to re-stabilize
The second quarter of the year has been a solid one for Bitcoin’s performance as its market dominance gained against altcoins which “bled” throughout the quarter according to CoinGecko. On July 18, the crypto data aggregator released its industry report for Q2 2023 which noted Bitcoin (BTC) and Ether (ETH) continued to build upon their
The Australian financial services regulator has finally canceled the financial license of FTX Australia, the bankrupt crypto exchange’s local subsidiary — effective July 14. On July 19, the Australian Securities and Investments Commission (ASIC) announced the cancellation, before noting that FTX Australia will still be allowed to provide limited financial services while it wraps up
Bitcoin (BTC) price dropped below the $30,000 level on July 18, which given the developments of the last month, retail investors may not have expected, but does today’s downside move represent an upcoming shift in the trend? Data suggests that over the longer-term it does not. To get to the positives first, Bitcoin price is
Following the legal victory by the digital payment network, Ripple, Representative Ritchie Torres has written a letter to the US Securities and Exchange Commission (SEC) urging them to reconsider their approach to regulating cryptocurrencies. The letter, addressed to SEC Chair Gary Gensler, highlights the recent decision by Judge Analisa Torres of the Southern District of
The Eighth Judicial District Court of Nevada has granted a petition from the state’s Financial Institutions Division (NFID) placing crypto custodian Prime Trust into receivership, pending a hearing to show cause. In a July 14 filing, the Nevada court ordered the appointment of a receiver for Prime Trust following a June 26 petition from the
On July 11, the European Commission formally adopted its new strategy on Web4 and virtual worlds with the aim of ensuring “an open, secure, trustworthy, fair and inclusive digital environment” for European Union citizens. The strategy is based on four main pillars, revolving around the empowerment of human resources, support of businesses, further development of
Fidelity Digital Assets released a ‘Q2 2023 Signals Report’ on July 18, which claimed that Ether’s (ETH) outlook for the next 12 months and the long term is positive. Year-to-date, Ether price has gained 62% but while the investment firm might be ‘short-term’ bullish on Ether, that does not mean they believe that the month-long
A token generator simplifies the tokenization process through automation while integrating custom tokenomics and ensuring privacy. Token generators streamline the process of token creation with automated drag-and-drop functions, eliminating the barriers to tokenization that cryptocurrency enthusiasts with little to no programming knowledge typically face. Tokens represent particular utilities or assets. Tokenization effectively converts something valuable
Brian Armstrong, the CEO of United States-based cryptocurrency exchange Coinbase, is reportedly planning to meet with members of Congress to discuss digital asset legislation and related issues. According to a July 17 Bloomberg report, Armstrong has a scheduled meeting with the New Democrat Coalition, a group of roughly 100 Democrats in the House of Representatives
BlackRock’s application for a Bitcoin exchange-traded fund (ETF) has sparked the beginning of a new crypto bull market, which will go parabolic at some point closer to the halving scheduled for April 2024, according to Mark Yusko, the chief investment officer and founder of Morgan Creek Capital. “Based on Metcalfe’s law model, fair value for