The latest ruling in the class-action lawsuit against OneCoin has dismissed Konstantin Ignatov, co-founder of OneCoin, as a defendant after he agreed to testify against his sister. Ignatov is the brother of Ruja Ignatova, the infamous leader and face of OneCoin also known as “Cryptoqueen.” Ignatova disappeared in 2017 and has since managed to evade authorities and the general public. While Ignatov was dismissed from the lawsuit initiated by defrauded OneCoin investors, court documents indicate that this same case will continue to target Ignatova. Both siblings are still the defendants…
Month: September 2020
Tether surpasses XRP by market cap again
Tether (UDST), the world’s largest stablecoin by market capitalization, has again surpassed major altcoin XRP. On Sept. 1, Tether surpassed XRP as the third-largest cryptocurrency by market cap, becoming the second-largest altcoin after Ether (ETH). As of press time, USDT market cap accounts for more than $13.4 billion, according to data from crypto analytics website Coin360. XRP is now the fourth-largest coin by market cap at $13 billion. The latest movement in ranking is not new to the crypto market in 2020. Tether surpassed XRP as the third-largest crypto in…
2 On-Chain Signals Show Ethereum Has Room to Run After 10% Jump
Ethereum has room to rally after surging 10% in the past 48 hours, according to recent on-chain data shared by Santiment. The blockchain analytics firm just noted that there are a number of trends suggesting ETH has room to extend to the upside. ETH’s latest bout of strength comes as Bitcoin has inched higher as the U.S. dollar has continued its spiral to the downside. The Dollar Index is seemingly dictating the directionality of all assets, as these markets are denominated in the foreign currency. Related Reading: Crypto Tidbits: MicroStrategy’s $250m…
Binance may know who is behind the 1,400 BTC Electrum wallet hack
On Aug. 30, a Github user made a post about losing 1,400 Bitcoin (BTC) via an elaborate hack that affected his Electrum wallet. N-chain analysis indicates that the hackers had a Binance account and that some of the transactions used to move the stolen coins may have originated in St. Petersburg, Russia. However, It is important to note that conclusions afforded by on-chain research are generally more probabilistic than deterministic. On-chain analysis of the hack. Source: Cointelegraph, Crystal Blockchain. Even so, there is no clarity on how the attack was…
Vitalik Buterin compares DeFi tokenomics to the Fed’s money printer
Vitalik Buterin, the co-founder of Ethereum (ETH), has again taken to Twitter to warn against naive bullishness in the decentralized finance (DeFi) sector, comparing the economics of yield farming tokens to the Federal Reserve’s money printing. Yield farming – providing liquidity to earn interest in the form of tokens – has taken the crypto community by storm and sparked the DeFi boom. However, Buterin highlighted the aggressive supply inflation of many governance tokens, saying this puts downward pressure on the prices of “coins that are getting printed nonstop to pay…
Analysts predict Yearn Finance’s ETH vault could spark renewed Ether bull run
Analysts predict that the imminent launch of yETH by Yearn Finance could trigger a renewed surge in buying pressure on the ETH markets. The product, which is being voted on by YFI token holders, will automatically find the highest yielding decentralized finance (DeFi) protocol/strategy for Ether (ETH) deposits. Yearn Finance’s core products are ‘vaults’ that seek the best returns for yield farmers, while also pooling funds to reduce gas fees. With Yearn’s vault purporting to guarantee the highest returns while removing the labor and research needed to maximize the profitability…