Tag: Crypto
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Yield-Bearing Stablecoins Surge to $11B, Now 4.5% of Market Share
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Yield-bearing stablecoins have rapidly gained traction in the crypto sector, soaring to $11 billion in circulation and now making up 4.5% of the total stablecoin market. This marks a substantial rise from just $1.5 billion and a 1% market share at the beginning of 2024, fuelled by increasing demand, shifting investor preferences, and greater regulatory…
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Supreme Court Urges Indian Government to Regulate Cryptocurrency Amid Growing Concerns
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The Supreme Court of India has raised serious concerns over the government’s failure to regulate cryptocurrencies despite imposing a 30% tax on digital assets like Bitcoin. The court warned that the continued use of unregulated cryptocurrencies poses potential risks to the country’s economic stability. “A Parallel Economy” During a hearing related to an ongoing investigation…
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Ethereum Slips Below Key Support as Market Faces Broader Sell-Off
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Ethereum (ETH) experienced a sharp decline on 19 May, dropping over 5% to trade around $2,380 as bearish momentum gripped the broader cryptocurrency market. The fall, which saw ETH touch an intraday low of $2,353 after a high of $2,587 the previous day, came amid a wave of long liquidations and economic uncertainty sparked by…
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Tether Surpasses Germany in US Treasury Holdings, Strengthening Its Position Amid Crypto Volatility
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Tether, the issuer of the world’s largest stablecoin USDt (USDT), has surpassed Germany’s holdings of United States Treasury bills, marking a significant milestone in the company’s conservative reserve strategy. With over $120 billion in US Treasurys, Tether now ranks as the 19th largest holder globally—outpacing several major economies. Tether Outpaces Germany with $120 Billion in…
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Ethereum More Resistant to 51% Attack Than Bitcoin, Says Researcher Justin Drake
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Ethereum researcher and Merge architect Justin Drake has claimed that launching a 51% attack on Bitcoin would be significantly cheaper than on Ethereum. According to Drake, such an attack on Bitcoin could cost as little as $10 billion, compared to much higher costs associated with Ethereum’s proof-of-stake (PoS) network. Cost of a Bitcoin Attack ‘Much…
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Bitcoin Breakout Odds Rise Amid All-Time Highs and $90K Pullback Concerns
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Bitcoin Consolidates Near Record Levels as Traders Eye Breakout Bitcoin remains locked in a tight range as traders brace for a significant price move, with speculation building over whether the cryptocurrency will surge to new all-time highs or face a sharp correction toward $90,000. At the Wall Street open on May 16, BTC/USD hovered between…
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Coinbase Shares Slide 7% Amid SEC Probe and Cyberattack
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Coinbase, one of the world’s largest cryptocurrency exchanges, saw its stock tumble 7% in after-hours trading to $244 on 15 May, following reports of a significant cyberattack and a revived US Securities and Exchange Commission (SEC) investigation into its user metrics. SEC Questions 2021 ‘Verified Users’ Claim The SEC is investigating whether Coinbase misrepresented the…
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Tether Blacklist Delay Enables $78M in Illicit Transfers: AMLBot Report
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A recent report by blockchain compliance firm AMLBot has revealed that a significant delay in Tether’s USDT blacklisting process enabled the transfer of over $78 million in illicit funds before enforcement actions took effect. The findings raise serious concerns about the effectiveness and timeliness of Tether’s compliance mechanisms on both the Ethereum and Tron blockchains.…
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Controversial Public Figure Leaked 50% of the Meme Token TIKTOK Emission
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On January 19, Fournier proposed the idea of the meme token Official TIKTOK COIN (TIKTOK). User X under the nickname Asta created the coin on Pump.fun and sent the public figure half of the emission. The token quickly skyrocketed in value, reaching a market capitalization of more than $90 million. However, on the evening of…
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Wyoming pushes Bitcoin Bill to diversify State investments
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‘House Bill 0201 (HB0201)’, a legislative proposal that seeks to permit the state to allocate a portion of its public funds to Bitcoin investments. The bill sets a cap of 3% on BTC investments from eligible state funds, including the general fund, the permanent mineral trust fund, and the permanent land fund. It authorizes the…