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Early Tuesday morning, DeFiance founder Arthur Cheong lost close to $1.7 million from his crypto wallet. The loss consisted of the following coins; five CloneXs, 17 Azuki’s, 33 Second Selfs, two Hedgies, and two Tsubasa NFTs. This information is according to PeckShield. The firm confirms that 59 NFTs were stolen in total. After the incident, Cheong tweets the following statement” “Well, this hit me hard, but if I got exploited as a fairly sophisticated[…]
As cryptocurrencies experience a jump in prices, will Malaysia consider making crypto legal tender? It’s no surprise that the most popular cryptocurrencies, Bitcoin and Ethereum, went up today. Several bullish news items have fueled them. A government official proposed a question to the country of Malaysia as to whether they will accept crypto as legal tender. The deputy minister of communications, Zahidi Zainul Abidin addressed the request to parliament. The government then began to[…]
On Monday, new fees were put into action for cryptocurrency transactions on two major apps, PayPal and Venmo. PayPal and Venmo, before this update, had a flat rate of $0.50 for crypto transactions. The fee for transactions up to $25 is 2.3 percent, and for transactions up to $200, the fee is 2 percent. Regarding the new fees on PayPal and Venmo, some changes were made. From Monday, transactions up to $200 will be[…]
Ethereum’s burn mechanism is stronger than ever, with the crypto’s second-largest network officially destroying almost 2 million ETH since its implementation last August. Since its creation, the network has burned a total of 2,000,996 Ethereum, according to Watch the Burn, a dashboard that monitors the burn process. That equals more than $5.82 billion removed from circulation for good in monetary terms. The London hard fork, EIP – 1559. This is its technical name and[…]
The European Union Parliament was initiating a proposal for the ban of bitcoin. However, this did not go into effect. Six committee members ruled against this ban. The proposal introduced to the draft last week aimed to limit the usage of cryptocurrencies powered by an energy-intensive computing technique. This is commonly known as proof-of-work. Several crypto supporters worldwide reacted strongly to this proposal. Yesterday in a report on Coin Desk, they explained that many[…]
Tesla CEO Elon Musk has discussed high inflation and its effects on his companies. Starting Sunday evening, he tweeted a series of tweets starting with the first. He said, “What are your thoughts about the probable inflation rate over next few years?” He mentioned that the two companies he owns, Tesla and SpaceX, have experienced the effects of inflation pressure. Musk also said that this had become a trend for several other companies. He[…]
Over the weekend cryptocurrencies were in the red. Monday morning bitcoin was trading at $37,800, it had gone down 3% from where it stood over the weekend. Ether which was trading at $2,500 also was down by roughly 3%. Similarly, many altcoins happened to also be in the red. Since Russia has been in attack mode Bitcoin and Ethereum have been fluctuating. Bitcoin has gone from the $37,000 to $45,000 price range that it[…]
President Joe Biden’s executive order has been released. The executive order went through delays because Biden tried to resolve the ongoing conflict in Ukraine. Now you may be wondering what’s in the executive order? Firstly, it includes a six-point strategy for the U.S. government regulating cryptocurrencies. 1. Investor protection Investor protection has been of top importance. The Treasury was put in charge of assessing policy recommendations on crypto. In addition, regulators will need to[…]
As the war in Russia continues the NFT collectors club announced their donation of $1 million to Ukraine. The donation came after about an identical amount was received from crypto wallets that also held a Bored Ape NFT. On March 8,389 ETH were sent from the BAYC address to the Ukraine cryptocurrency contribution address. This comes out to $1.05 million at current market prices. $60 million worth of donations to Ukraine: The Ethereum address[…]
Bitcoin has surged past $41,500 as traders, investors, and the market as a whole await more information on Bidens executive order. Digital tokens, as a result, have also experienced a dramatic increase in value. According to CoinGecko the coin gained 8.8% going up to $41,874. The world’s second-largest cryptocurrency Ethereum gained close to 6.7% and Terra as much as 20%. All these increases have occurred in the past 24 hours. The Executive Order: The[…]