A major security breach this week saw hackers access $570 million in cryptocurrency from Binance, though the company claims losses are under $100 million. CEO Changpeng Zhao stated the situation is now contained. The breach was attributed to an exploit between two blockchains, mirroring attacks on other firms. Binance plans to enhance its security measures … Read more
Bitcoin halving occurs every four years, reducing mining rewards by 50% and impacting supply and price dynamics. The most recent halving on April 19, 2024, adjusted the reward to 3.125 BTC, historically associated with price increases. This event is crucial for addressing inflation and creating opportunities for investors, although it can diminish profitability for miners. … Read more
Bitcoin’s price skyrockets to over $62,000 following a Fed interest cut and rising concerns over U.S. debt. BlackRock’s insights signal increased institutional interest, especially with the SEC approving options on its IBIT ETF. The combination of these factors suggests the early stages of a potential Bitcoin bull market driven by economic uncertainties. In a surprising … Read more
Bitcoin, introduced in 2009, aimed to revolutionize finance but has faced volatility and scandals. The coming decade will see continued interest from speculators, ongoing blockchain development, and the significant impact of halvings on its price. Despite challenges in decentralization, scalability, and security, Bitcoin’s global adoption is growing, with regulatory landscapes shifting dramatically. Yet, the future … Read more
Bitcoin recently reached new all-time highs in multiple currencies, while teasing near misses against the US dollar. Innovations like Solana’s sUSD aim to democratise access to treasury bills, and partnerships in Hong Kong are redefining loyalty points. The crypto fervour is also reflected in Korean stock markets, despite the US Treasury’s cautious stance on cryptocurrencies. … Read more
Metamask has partnered with Mastercard and Baanx to launch a crypto-backed debit card, enabling users to spend cryptocurrency directly from their wallets. The card converts crypto to fiat during purchases, streamlining the transaction process. Initially available as digital cards for a limited audience, expansion plans are in place. This development aims to integrate digital currencies … Read more
Ethereum is set for a pivotal upgrade, known as ‘the merge’, which will transition its energy-intensive mining operations to a more sustainable ‘proof of stake’ system. This shift aims to reduce energy consumption by over 99%, potentially attracting traditional financial institutions while addressing environmental concerns. However, the upgrade faces challenges, including resistance from miners and … Read more
Trump’s election has triggered an explosive rise in Bitcoin prices, soaring to $89,000 and boosting the entire cryptocurrency market. Investors expect a more favourable regulatory environment under Trump, who has shifted from sceptic to supporter of digital currencies. His recent venture, World Liberty Financial, introduces a proprietary cryptocurrency, fuelling hopes for industry growth and mainstream … Read more
Two IMF executives propose increasing global electricity costs for crypto miners by up to 85% through taxes, aiming to reduce carbon emissions while generating significant government revenues. Amidst these discussions, public miners are seeking debt financing as Bitcoin prices decline. The impending expiry of $1.4 billion in Bitcoin options threatens to add further sell pressure, … Read more
Ukraine’s government has raised $63.8 million through crypto donations since the invasion began. With over 120,000 contributions, notable donations include $5.8 million from Polkadot’s founder and a CryptoPunk NFT worth $200,000. Despite the success, the rise of scams targeting those wishing to support Ukraine highlights the need for vigilance in this new fundraising landscape. In … Read more