Day: August 5, 2023

Canadian police deploy Chainalysis Reactor to combat crypto scams

The Lethbridge Police Service (LPS) in Canada is incorporating technology to combat crypto scams and assist victims in retrieving funds. By deploying Chainalysis Reactor, law enforcement aims to trace crypto transactions and recover stolen funds. The software can identify and categorize millions of addresses, including those of illegal and legitimate services.  Police will rely on a certified blockchain analysis investigator from the Economic Crimes Unit. Chainalysis Reactor software allows for the meticulous tracing of crypto transactions, taking advantage of the transparent nature of public blockchains like Ethereum or Bitcoin from which most…

Tether May Now Be 11th Largest Bitcoin Holder, Analyst Says

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Tether, the company behind the USDT stablecoin, may now be the 11th largest bitcoin holder in the world. This comes after the stablecoin issuer recently published its attestation report for Q2 2023. According to the report, Tether recorded an increase in excess reserves, which grew by $850 million. This brought the company’s total excess reserves to approximately $3.3 billion. These excess reserves are profits that the company does not distribute to shareholders as dividends. Instead, Tether keeps them to shore up its 100% reserves, which are used to back all…

Top US Crypto Exchange Coinbase Asks Court To Toss SEC Lawsuit, Accuses the Regulator of Violating Due Process

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Coinbase is asking a court to dismiss the U.S. Securities and Exchange Commission’s (SEC) lawsuit against the top US-based crypto exchange. In a new thread, Paul Grewal, Coinbase’s chief legal officer, says that the crypto firm is seeking to discard the lawsuit because they believe the regulatory agency is violating due process. According to Grewal, the SEC is ignoring a decades-long precedent established by the Supreme Court. “Today, Coinbase filed our brief asking the Court to dismiss the SEC’s case against us. Our core argument is simple – we do…

Bone ShibaSwap Among Weekend Biggest Hitters With 25% Rally

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The cryptocurrency market is currently growing in a variety of ways, but the Shiba Inu (SHIB) ecosystem’s tokens are currently noticeably on a positive run. Bone ShibaSwap (BONE), one of the leading tokens in the meme coin ecosystem, is on a clear uptrend, rising as much as 5.6% in the previous day to $1.74. The coin has increased by more than 25% over the last week as a result of the ecosystem’s overall buzz. The price of Bone Shibaswap has made a significant recovery in recent months. After soaring to a…

NFT Trading Is Down But Developer Sentiment is High

What: CryptoPunks, one of the earliest NFT projects on Ethereum and also one of the most popular collections of all time, experienced a number of high-profile trades this week, including one from prolific NFT artist Beeple. His first profile-picture (PFP) NFT purchase, the clownish Punk #4953 set the stage for other high-value buys, including Punks #6634, which sold for 235 ETH (about $432,000) and Punk #3307, which sold for 500 ETH (about $915,000). Source

Bitcoin prices must break $100,000 for crypto miners to stay profitable

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied A Seeking Alpha analysis reveals that Bitcoin prices must not only more than triple to $100,000 but should be sustained above this level for miners to remain profitable in 2024 and beyond. Considering what lies ahead, mining farms, especially those whose shares are listed on bourses in the United States, including Riot and Marathon, are at a critical juncture. There could be a shake-up unless there are changes in hash rate, difficulty, or electricity costs in…

Bitget faces lawsuit by influencer over ReelStar token listing fiasco

Crypto influencer Evan Luthra has brought a lawsuit against crypto exchange Bitget for freezing his account after a new token listing in March. According to Luthra, the exchange suspended his withdrawals, and froze $200,000 in Tether (USDT), while attempts to seek clarification went unanswered.  Luthra’s involvement with the ReelStar project serves as a backdrop to these events. The influencer was hired as an advisor of ReelStar, a startup developing a social media app for creators. As compensation, Luthra was offered REELT tokens, the project utility token. Upon its listing, the…

Ex-Celsius CEO must respond to NY lawsuit

Alex Mashinsky, the founder and former CEO of Celsius Network, a centralized crypto lender that folded in 2022, has been directed by a Manhattan state court judge to respond to a lawsuit initiated by New York Attorney General Letitia James. The lawsuit alleges civil fraud, claiming that Mashinsky misled investors by portraying Celsius Network as a safe banking alternative while withholding its risks and significant investment losses. Judge Margaret Chan, overseeing the case, found evidence suggesting a link between Mashinsky’s actions and the financial losses suffered by investors.  James contends that Mashinsky…

Ethereum ETF Race Gets Hotter As SEC Receives 11 Filings In One Week

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The United States Securities and Exchange Commission (SEC) has been flooded with many applications for Ethereum (ETH) Exchange-Traded Funds (ETFs) in just one week. The applications currently stand at 12, with the latest addition coming from ProShares, a popular fund manager.  The platform filed four applications for Ether-based ETFs, including a dual Ether and Bitcoin futures strategy ETF, an Ether Strategy ETF, and a short Ether Strategy ETF.  Will The SEC Approve An Ethereum Futures ETF? The recent surge in applications started on the 28th of July this year after…

What is Hooked Protocol, and how does it work?

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Three main elements in the Hooked ecosystem are gamified learning, a mechanism for incentives and an integrated infrastructure of businesses. Hooked Protocol follows a three-pronged approach to incentivize Web3 adoption: Gamified learning Hooked Protocol has adopted an immersive and inquisitive Web3 education methodology. Hooked Academy Sensei enables users to converse with virtual tutors integrated with ChatGPT. There are virtual tutors with special characters who have the capability to interact like humans. Hooked Academy, meanwhile, provides 30-second meme videos to help users learn. These videos with artificial intelligence-powered characters make the…