Polygon has witnessed a remarkable surge in its stablecoin market capitalization this quarter. According to the latest report from Messari, the Ethereum Layer 2 solution’s stablecoin market cap soared to a whopping $1.5 billion, reflecting a significant 19% increase on a quarter-over-quarter basis. Stablecoin Adoption on Polygon Soars Tether’s solidified its position as the dominant stablecoin […]
In a high-profile case involving a massive cryptocurrency fraud, a British-Chinese woman, Jian Wen, has been sentenced to six years and eight months in prison for her role in laundering Bitcoin proceeds from a $6 billion investment scam in China. Wen, aged 42, was found guilty in March of laundering Bitcoin on behalf of her […]
Mastercard has launched its Mastercard Crypto Credential, facilitating the first peer-to-peer (p2p) pilot transactions that simplify and secure blockchain transfers. The latest offering will enable users on the Bit2Me, Lirium, and Mercado Bitcoin exchanges to send and receive cryptocurrency using easy-to-remember aliases instead of cumbersome blockchain addresses. This new capability is designed to enhance transaction […]
With the broader market recovery this year, the network activity XRP Ledger (XRPL) also surged across nearly all metrics, with active addresses and transactions increasing by 37% and 113% quarter-over-quarter (QoQ), respectively, according to Messari’s latest report. A significant portion of this activity stemmed from a concentrated group of approximately 45,000 accounts, which collectively sent […]
Rashawn Russell, a former investment banker, has been sentenced to 41 months in jail for wire fraud related to a cryptocurrency and access device fraud. Russell’s sentencing took place at the Eastern New York District Court in Brooklyn after his September 2023 guilty plea. Former Banker’s $1.5 Million Crypto Fraud Prosecutors detailed that Russell began […]
Ethereum co-founder Vitalik Buterin donated 30 ETH, valued at around $113,000, to support the legal defense of Tornado Cash developers Alexey Pertsev and Roman Storm through the decentralized fundraising platform Juicebox. According to the on-chain data, the transaction from an address linked to Buterin, named vitalik.eth, was made at 1:58 am EST on May 30 […]
The U.S. District Court for the District of Utah has dismissed the Securities and Exchange Commission’s (SEC) case against Digital Licensing, operating under the name Debt Box. The judge has also ordered the SEC to pay approximately $1.8 million in attorney and receivership fees. SEC Ordered to Pay $1.8 Million in Fees In a post […]
Crypto markets have declined slightly this week as sentiment wanes in the wake of last week’s US Securities and Exchange Commission’s approval of spot Ethereum exchange-traded funds. Nevertheless, volatility could increase when a whopping $4.7 billion in notional value Bitcoin options contracts expire on May 31. The 69,200 contract expiry is huge compared to last […]
Riot Platforms Inc., a leading crypto mining company, has announced its intention to acquire Bitfarms Ltd., another significant player in the Bitcoin mining industry. Riot has already acquired a 9.25% stake in Bitfarms and plans to make a public takeover offer despite the company’s board’s recent rejection. Global Bitcoin Mining Giant Riot has proposed an […]
Bitcoin’s price has been sensitive to changes in inflation data – Consumer Price Index (CPI) – relative to the previous month, according to a May 29 market report from 10x Research analyst Markus Thielen. He said that higher-than-expected CPI has been bearish for the cryptocurrency, while lower-than-expected CPI has been bullish. Correlations With CPI Data […]