Month: June 2023

Over $83m flows into crypto market as liquidity unlocks

According to the data provided by Token Unlocks, the market for cryptocurrency tokens saw a substantial injection of liquidity this past week that amounted to more than $83.38 million. The liquidity was divided over the following projects: SUI, OP, YGG, AGIX, ACA, GAL, and 1INCH. Unlocking a certain part of the total supply of tokens was a need for each one, and this requirement contributed to the volume as a whole. SUI, a layer 1 blockchain smart contract system, is one of the projects that has distributed tokens worth $44.4…

Robinhood to axe 7% of full-time staff in latest round of layoffs: Report

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Online brokerage firm Robinhood Markets will reportedly lay off roughly 150 full-time staff — 7% of its total workforce — in its third round of layoffs in just over a year.  According to an internal company message seen by The Wall Street Journal, Robinhood Chief Financial Officer Jason Warnick reportedly wrote that the cuts were being made to “adjust to volumes and to better align team structures.” A Robinhood spokesperson did not confirm or deny the layoffs in comments to Cointelegraph, but stated: “We’re ensuring operational excellence in how we…

Over 50% of Fortune 100 companies have embraced crypto and web3, study shows 

Coinbase’s latest report reveals that more than half of the Fortune 100 companies in the US have actively embraced crypto, blockchain, and web3 technologies in recent years, signaling a growing adoption trend despite regulatory challenges. Fortune 100 firms embracing crypto despite regulatory uncertainty A recent research report released by Coinbase, a leading cryptocurrency exchange, highlights a significant shift in the business landscape as more than half of the Fortune 100 companies in the U.S. have embraced crypto, blockchain, and web3 technologies since 2020.  These large companies, ranked by revenue, are…

Huobi Global to delist ten trading pairs, including several linked to USDD stablecoin

Huobi Global Ltd. has announced plans to discontinue ten trading pairs, predominantly those associated with the USDD stablecoin, as part of their ongoing efforts to optimize user trading experiences. Renowned digital currency exchange Huobi Global Ltd. stated that it will discontinue ten specific trading pairs, primarily those connected to the USDD stablecoin. This stablecoin, issued by the TRON DAO Reserve, has significant backing from well-known digital asset entrepreneur Justin Sun. Huobi intends to delist trading pairs involving the ADA token of Cardano, SOL of Solana, APE of ApeCoin, MATIC of…

Yes, the Secret Service has an NFT collection, and no, it’s not for sale

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The United States Secret Service has finally shed more light on its bizarre nonfungible token (NFT) collection sitting on OpenSea.  The NFT collection was first revealed during a Reddit AMA on May 16, where agents answered questions from members of the r/cryptocurrency subreddit about their involvement in crypto and blockchain tech. Until this time, not much of an explanation was provided about the NFT collection or why it exists. Speaking to Cointelegraph, agents from the Secret Service’s San-Francisco field office, known as the “Digital Asset Technology Alliance” (DATA) Squad, said…

Crypto scams are going to ramp up with the rise of AI

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With talk about integrating artificial intelligence and the cryptocurrency industry mostly focusing on how AI can help the crypto industry combat scams, experts are failing to pay attention to the fact that it could have the complete opposite effect. In fact, Meta recently warned that hackers appeared to be taking advantage of OpenAI’s ChatGPT in attempts to gain entry into users’ Facebook accounts. Meta reported blocking more than 1,000 malicious links masked as ChatGPT extensions in March and April alone. The platform went as far as calling ChatGPT “the new…

Founder of Damus, Bitcoin-Friendly Social Media App, Now Expects Deplatforming From Apple $AAPL App Store

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Swiss central bank announces plans for wholesale CBDC pilot with ‘real money’: Report

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The head of the Swiss National Bank (SNB) has announced that the bank will launch a wholesale central bank digital currency (wCBDC) pilot project, according to a report. Reuters quoted bank chair Thomas Jordan as saying the project would begin “soon.”  The wCBDC will be issued on the Swiss SIX digital exchange and run for a limited time, Jordan was quoted as saying at the Point Zero Forum in Zurich on June 26. The SIX Group also runs Switzerland’s largest stock exchange. Jordan said, according to the report: “This is…

Price analysis 6/26: SPX, DXY, BTC, ETH, BNB, XRP, ADA, DOGE, SOL, LTC

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An onslaught of Bitcoin ETF applications could help BTC price find long-lasting support at the $30,000 level. The S&P 500 Index (SPX) snapped a five-week winning streak last week but it is still on track to close the first half of the year with stellar gains of nearly 13%. The tech-heavy Nasdaq Composite has done much better as it is up about 29%. Both these indices have been overtaken by Bitcoin (BTC) which has risen nearly 83% year-to-date. Bitcoin’s bullish price action and the recent rush by several firms to…