Search Results for: blockchain

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Changpeng Zhao Walks Free: Crypto’s Controversial King Returns

Changpeng Zhao, better known as CZ, has been released from prison following a high-profile pardon by President Donald Trump. The Binance founder had served a four-month sentence after pleading guilty to violating U.S. anti-money laundering laws—a conviction that formed part of a $4.3 billion settlement with the Department of Justice. CZ’s release marks a dramatic …

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Paxos – A PayPal Crypto Partner Mints $300 Trillion in Stablecoins—A Glitch of Galactic Proportions

In a surreal twist that briefly defied economic logic, Paxos—the blockchain infrastructure firm behind PayPal’s PYUSD stablecoin—accidentally minted $300 trillion worth of digital dollars in a technical mishap. The error, reportedly spotted on Ethereum’s public ledger Etherscan, triggered a wave of astonishment across crypto circles before Paxos swiftly burned the excess tokens and issued a …

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Hackers steal $1.5 billion from Bybit exchange

Bybit, one of the world’s largest cryptocurrency exchanges, has fallen victim to the biggest crypto heist in history Hackers managed to steal a staggering $1.5 billion in digital assets, primarily in Ethereum, from Bybit’s cold wallet, an offline storage system designed for ‘security’. This breach has sent shockwaves through the cryptocurrency community, raising concerns about …

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Bitcoin breaks the $100,000 barrier

In a historic moment for the cryptocurrency world, Bitcoin has finally breached the $100,000 mark. This milestone, reached on 5th December 2024, signifies a notable triumph for Bitcoin enthusiasts and investors who have endured the market’s volatility over the years. The cryptocurrency value surge past $100,000 followed Donald Trump’s election as President of the United …

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The mystery surrounding the origin of Bitcoin

Bitcoin’s origin is one of the most captivating mysteries of the digital age. The cryptocurrency was created in 2008 by an unknown individual or group under the pseudonym Satoshi Nakamoto. Despite numerous investigations, the true identity of Nakamoto remains shrouded in secrecy. Story The story of Bitcoin begins with the release of a whitepaper titled …

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Ether ETFs launched in the U.S. on 23rd July 2024 with BlackRock, Grayscale and others

Bitcoin is often likened to a type of digital gold, but Ether is seen more as a native cryptocurrency on the Ethereum blockchain. It is generally seen as a trade or bet on the growth and of the development of the blockchain and of crypto more widely. Many of the funds set to launch this …

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Will Bitcoin experience another growth spurt after the latest halving event?

Bitcoin halving is a significant event in the cryptocurrency world What is Bitcoin Halving? Bitcoin halving, which happens roughly every four years, cuts the rate of new Bitcoin creation by half. This event is tied to the method of recording and generating Bitcoins. Transactions are logged on a blockchain, a ledger accessible to all. Miners compile …

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Bitcoin volatility continues as it slumps below $63000 after reaching a record $73000

Bitcoin extended its slide on Tuesday 19th March 2024, dropping more than $10,000 from its all-time high last week. The cryptocurrency went below $63000. Last week it climbed to a record $73679. The move helped drag other cryptocurrencies lower. Ether lost more than 5% and was recently trading at $3,287.58 after topping $4,000 last week for – a drop some analysts …

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SEC finally approves Bitcoin ETF

After years of regulatory rejection, the U.S. Securities and Exchange Commission on Wednesday 10th January 2024 finally approved the Bitcoin EFT. It has approved what are known as ‘spot’ Bitcoin Exchange-Traded Funds (ETFs), which can be purchased by anyone from pension funds to retail investors. This now means that some of the biggest asset managers in the …

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Binance battered as CEO Changpeng Zhao (CZ) pleads guilty to U.S. federal charges

Binance chief Changpeng Zhao pleaded guilty Tuesday to criminal charges and stepped down as the company’s CEO as part of a $4.3 billion settlement with the Department of Justice, according to court documents. The plea arrangement with the U.S. government resolves an investigation into the world’s largest cryptocurrency exchange. Zhao said Tuesday in a post …

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Singapore to pilot use of wholesale central bank digital currencies in 2024

It was reported Friday 17th November 2023 by the city-state’s central bank that Singapore will be piloting the live issuance and use of wholesale central bank digital currencies in 2024. During the pilot, the Monetary Authority of Singapore, (MAS) will partner with local banks to pilot the use of wholesale CBDCs to facilitate domestic payments. …

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IMF says now is the time for central bank digital currencies

IMF’s Kristalina Georgieva reportedly said that the public sector should keep preparing to deploy central bank digital currencies (CBDC’s) and related payment platforms in the future. But according to data from the Atlantic Council, only 11 countries have adopted CDBC’s thus far. Alternative to cash Central bank digital currencies (CBDC’s) have the potential to replace …

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Bitcoin bounce and retrace as ETF news breaks

Bitcoin ETF approval? The price of Bitcoin is influenced by many factors, such as supply and demand, market sentiment, news events, regulations, and technical analysis. One of the recent news events that affected the price of Bitcoin was the speculation about the approval of a Bitcoin ETF by the U.S. Securities and Exchange Commission (SEC). …

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Singapore among world’s first to agree stablecoin crypto regulation – the race is on…

Big news for the crypto industry Singapore’s financial regulator has reportedly said it had finalised rules for a type of digital currency called ‘stablecoin’, placing it among some of first the regulators worldwide to do so. Stablecoins are a type of digital currency designed to hold a constant value against a fiat currency. Many claim …

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Ripple effect! XRP surges after U.S. judge rules it is not a security in… some instances

SEC Ruling – July 2023 XRP, the native token of the blockchain company Ripple, soared more than 60% on Thursday after a U.S. judge delivered a major victory to the firm in its legal battle with the Securities and Exchange Commission (SEC). The SEC had sued Ripple in December 2020, alleging that it had raised …

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What is Crypto?

Cryptocurrency Crypto, short for cryptocurrency, is a digital or virtual currency that uses cryptography for security and operates independently of a central bank. Cryptocurrencies are decentralised currencies, meaning they’re neither issued nor governed by a central bank.  Some cryptocurrencies are issued by their developers, while others are generated by their respective network algorithms. They exist and operate …

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