Major crypto whales have capitalized on the current market downturn. They have acquired substantial amounts of the meme coin Pepe (PEPE), with transactions totaling approximately $5.56 million. This activity coincides with a general decline in the crypto market. Is Pepe Poised to Surge 51%? Spot On Chain, an on-chain analysis platform, detailed that a prominent crypto whale,…
The crypto market has recently witnessed a downturn, marked by significant price drops in major assets like Ethereum and Bitcoin. Particularly, Ethereum (ETH) seems to be grappling with pronounced bearish trends, leading many crypto analysts to predict further declines for the second-largest crypto by market capitalization. Ethereum Risks Falling to $2500 According to a recent…
Billionaire investor Mark Cuban recently expressed apprehension regarding the Securities and Exchange Commission’s (SEC) increasing scrutiny of the cryptocurrency sector. Cuban took to social media on May 10 to express concerns, hinting that the SEC’s stance against cryptocurrencies might affect President Joe Biden’s bid for reelection. Mark Cuban Highlights Crypto’s Critical Role in Forthcoming Election The billionaire…
The Eigen Foundation, an independent non-profit, announced on May 10 that the Season 1 airdrop claims process for the restaking protocol EigenLayer has begun. Community members uncovered that Justin Sun, the founder of the TRON network, received approximately 3.62 million EIGEN tokens through four addresses. Justin Sun Gets $30 Million Worth of EIGEN At current…
A recent study on the top 300 cryptocurrencies by market capitalization reveals that over 20% of these coins have a large portion of their tokens yet to be unlocked. This finding is crucial for investors and market analysts, given the potential impact on market prices and investor sentiment. Most New Crypto Projects Will Unlock Significant…
The US Securities and Exchange Commission (SEC), in its opposition to Coinbase’s motion for an interlocutory appeal, criticized Judge Analisa Torres’s decision in its case against Ripple. In a filing dated May 10, the SEC contended that the court should not entertain Coinbase’s bid to reassess the application of securities law to digital assets. SEC Says…
CoinGate, a fintech company based in Lithuania, has boosted the utility of Shiba Inu (SHIB) by integrating it with Polygon and Binance Smart Chain (BSC). This strategic move allows SHIB holders to purchase products from major brands like Nike and book services like Airbnb. Shiba Inu Price Consolidates Despite Growing Adoption The payment gateway CoinGate…
The US Department of Justice (DOJ) has selected the consulting firm Forensic Risk Alliance (FRA) to oversee Binance. This development follows Binance’s guilty plea to violating US money-laundering regulations and trade sanctions. Why DOJ Chose FRA Over Sullivan & Cromwell This appointment stems from a plea agreement that Binance entered last November. As part of the deal, Binance…
The House Committee on Rules has announced the consideration of the Financial Innovation and Technology for the 21st Century (FIT21) Act, setting the stage for a crucial floor vote later this month. The FIT21 Act aims to provide much-needed regulatory clarity for cryptocurrencies, a sector plagued by uncertainty that has hampered innovation and consumer protection….
Ethena Labs presented its new roadmap, promising a convergence between DeFi, CeFi, and TradFi. Its synthetic stablecoin, USDe, aims to replicate what Tether’s USDT did in 2014 and MarkerDAO did in 2017. Ethena’s Vision: DeFi, CeFi, TradFi Convergence According to the DeFi protocol, USDe succeeds because its reserves represent more than double the open interest in each combined perpetual…