Crypto News and Updates

Brazilian soccer star Ronaldinho Gaúcho is under investigation for his involvement in a crypto fraud scheme. The investigation centers around his company ’18kRonaldinho’, which promised clients daily profits of over 2% through crypto investments. Ronaldinho failed to appear before the country’s Congress for a pyramid scheme probe allegedly linked to his company. If he continues to evade the investigation, he may be detained by authorities. This development has sparked public interest and c…

FTX Derivatives Exchange has decided to temporarily suspend accounts of impacted users accessing its claims portal as a proactive measure to prevent potential future incidents following a recent hack. The exchange assures users that all claim data remains secure and valid. Kroll, the claims and noticing agent for FTX’s ongoing bankruptcy proceedings, experienced a breach, but FTX confirms that it had no impact on account passwords or internal systems. However, FTX customers are advised to …

Many prominent crypto commentators have criticized the new crypto tax reporting rules proposed by United States president Joe Biden. These rules, aimed at catching crypto users avoiding taxes, have raised concerns among the crypto community. Some believe that if Biden secures re-election, the crypto industry will face a bleak future in the country. Others point out that the U.S. has fallen behind other jurisdictions in terms of crypto innovation and these rules will further hinder innovati…

Tether’s Chief Technology Officer, Paolo Ardoino, recently addressed rumors surrounding edited images of Bitcoin mining containers. In a post on X, Ardoino clarified that the image depicted a control room at a Bitcoin mining site in Latin America, where Tether is completing its operations. He emphasized the need for security and privacy in not disclosing the exact location. Ardoino also mentioned Tether’s development of mining software called Moria, which aims to enhance energy production …

This week, Tornado Cash co-founders face charges of money laundering and sanctions violations, Sam Bankman-Fried struggles in jail, and a Bitcoin whale holding $3 billion is identified. The charges against Tornado Cash co-founders Roman Storm and Roman Semenov carry a maximum sentence of 45 years in prison. Bankman-Fried is having a tough time behind bars, with limited access to medication and a vegan diet. The mystery of the third-largest Bitcoin wallet, which accrued $3 billion in just o…

JPMorgan’s latest research suggests that the recent downtrend in the cryptocurrency market may be coming to an end. According to analysts, most long-position liquidations have been completed, indicating a potential deceleration in the selling trend. This is supported by the decline in Bitcoin’s open interest, which indicates a weakening of the current price trend. As a result, the analysts predict limited downside for crypto markets over the near term.

AI-generated songs are flooding the music market, raising concerns about transparency and ethical standards. However, the synergy of AI and blockchainThink of blockchain as a digital ledger that records transactions in a transparent, tamper-proof way. It's a chain of transaction blocks linked chronologically. can address these issues and revolutionize the music industry. By enhancing artists’ creative capabilities and ensuring fair revenue distribution, blockchainThink of blockchain as a digital ledger that records transactions in a transparent, tamper-proof way. It's a chain of transaction blocks linked chronologically. technology can bring transparency and trust to the industry.

A federal judge will hear Sam Bankman-Fried’s defense argument against a newly released batch of evidence provided by the U.S. Department of Justice (DoJ) on Aug. 25. Bankman-Fried’s legal team has raised objections to the last-minute release of 4 million pages of discovery just six weeks before his trial. The defense argues that the government should be precluded from using this evidence at trial. The judge’s order requires the government to respond to the defense’s concerns and restrict the…

In an unfortunate turn of events, three ex-team members of the PEPECoin project have been accused of stealing $16 million worth of tokens from the project’s multisig wallet. The remaining member now has full control of the project, but faces challenges in moving forward. Despite this setback, the community remains hopeful for a future where the project can thrive without any negligent team members or locked multisig situations. The price of PEPECoin has seen a slight increase amidst the turmoil.

The founder of dYdZX, Antonio Juliano, believes that early-stage crypto projects can scale faster by ignoring U.S. customers and focusing on markets outside the U.S. In a recent Twitter thread, Juliano emphasized that builders should prioritize growth and user adoption in friendlier overseas markets before returning to the U.S. in the future. He suggested that by finding product-market fit and building large user bases internationally, crypto builders can have more influence on U.S. policy…

In the second quarter of 2023, Exodus, a multichain wallet, reported a revenue decline of 4% year-over-year, amounting to $12.4 million. Despite the decrease, the company managed to reduce costs by 6%. The majority of revenue was generated through the exchange aggregation business, while fiat onboarding revenue experienced a significant increase of 220% compared to the previous year. The top assets traded during the quarter were Bitcoin, Tether, and EtherEther (ETH) is used to pay for computation and token swaps on Ethereum. Users "fuel" smart contracts and DApps with ETH.. Monthly active users decreased by…