Rep. Kim Nam-kuk of the Democratic Party of Korea allegedly withdrew 800,000 WEMIX tokens from late February to early March in 2022, and the transactions were reported to the Financial Services Commission’s Financial Intelligence Unit (FIU), according to CoinDesk Korea. Kim’s WEMIX holdings stood at 6 billion won ($4.5 million) between January and February 2022. Source
As the price of Pepe coin (PEPE) tanked over the last weekend, whales have turned active again which could cause further price volatility going ahead. Last week, the frog-themed memecoin Pepe coin (PEPE) created a massive frenzy in the crypto space registering over 300-400% price gains, with its price peaking at $0.00000420 on Friday, May 5. With less than a month since its launch on April 18, Pepe coin daily trading volumes shot up to %3 billion last week, second to Bitcoin and Ethereum. However, PEPE has come under some…
Despite the huge withdrawals and the network congestion, Binance had since resumed Bitcoin operations during the early Asian market on Monday. The most regulated centralized exchange with the largest daily traded volume Binance temporarily closed Bitcoin withdrawals on Sunday due to network congestion. In a rare blockchain moment, Bitcoin block 788695 contained transaction fees greater than the block subsidy. Meaning some Bitcoin miners earned the entire block reward on Sunday. According to the on-chain insight platform Glassnode, the Bitcoin network experienced extremely high demand for block space, driven by BRC-20…
Deribit’s forward-looking ether volatility index (ETH DVOL) hit lifetime lows over the weekend. Expectations for price turbulence appear underpriced considering the lingering macroeconomic uncertainties. Source
The approval of the National Blockchain Policy for Nigeria has left the nation’s crypto community over the moon as it signals room for more development in the nation’s crypto industry. Some local experts have expressed their opinions about the implications of this new policy and the blockchain ecosystem in Nigeria. The government of Nigeria approved a National Blockchain Policy during a meeting on May 3, 2023. A policy draft stated that blockchain and decentralized ledger technology would “facilitate the development of the Nigerian digital economy.” Cointelegraph contacted the local blockchain ecosystem…
For the first time since Q1 2021, Berkshire Hathaway repurchased stock worth $4.4 billion smashing the previous record of $2.8 billion. According to a report, Berkshire Hathaway Inc (NYSE: BRK), an American multinational conglomerate company, gained almost 13% year-on-year operating earnings in Q1 2023. The company’s insurance business solely contributed to the increase in operating earnings. Berkshire Hathaway’s latest financial reports indicate an operating profit of $8.065 billion in the year’s first quarter. Meanwhile, the Warren Buffett company announced operating earnings of $7.16 billion. The profit from Berkshire Hathaway insurance…
Among the possible uses of Bitcoin, we should mention enabling citizens to make deposits in Bitcoin and immediately exchange them for the national currency of Liechtenstein – the Swiss franc. Liechtenstein might become a country with Bitcoin (BTC) adopted on the governmental level. According to Liechtenstein Prime Minister Daniel Risch, the country is exploring the use of Bitcoin and considering enabling its citizens to pay for government services with the crypto. As per the interview of Daniel Risch with the German newspaper Handelsblatt, “a payment option with Bitcoin is coming”. Prime Minister…
Web3 facilitator Mysten Labs will roll out immersive games on its Sui protocol next week in collaboration with select partners. Mysten Labs has revealed 11 gaming partners for its Sui blockchain network, which goes live a week from now on May 15th. In addition to generating $300 million for the Sui Mainnet launched last week, Mysten Labs plans to launch high-end games on its Sui protocol. In an interview with GamesBeat, CEO Evan Cheng provided insight into the workings of its decentralized gaming agenda. Cheng explained that players could gain instant access to Mysten’s…
The network will offer 100,000 native metis (METIS) tokens as a liquidity mining incentive for Aave users on the network that will be distributed over a six-month period. Elsewhere, a token mining reward program will distribute 4,000 METIS to participating protocols commensurate with the percentage of monthly transactions generated. Source AaveCommunityDeployEthereumLayerMetisNetworkPassesProposal CryptoX Portal
Central banks have continued to consistently purchase gold during the first quarter of 2023, according to the latest report of the World Gold Council (WGC), the global gold statistics organization. Central banks added nearly 230 tonnes of gold to their national reserves, representing a 176% rise compared to the purchases made in Q1 2022. World Gold Council Registers Strong Gold Demand From Central Banks Central banks have registered a strong demand for gold during the first quarter of the year, according to the latest report of the World Gold Council…