Day: August 20, 2023

Friend.tech generates over $1M fees in 24h, surpassing Uniswap, Bitcoin networks

boss

Friend.tech, a recently released decentralized social (DeSo) network, has generated over $1 million in fees in 24 hours on Aug. 19, outperforming established players in the crypto ecosystem, including Uniswap and Bitcoin networks. The platform was launched in beta version on Aug. 11 and allows users to tokenize their social network by buying and selling “shares” of their connections. Enabling a person who purchases another’s share to send private messages to each other. The protocol reportedly charges a 5% fee on transactions, with the spread from trades representing the owner’s…

Bankman-Fried requests release to work on defense

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Sam Bankman-Fried, the co-founder of FTX, is seeking space outside detention weekly to prepare for his upcoming trial. His attorneys rejected a two-day-a-week release proposal offered by the U.S. government. Detention conditions challenged Bankman-Fried has been in a New York jail for a week, but he is requesting to be released five days a week so that he may work on his defense with his attorneys at the federal courthouse in Manhattan. The disgraced entrepreneur’s attorneys…

Judge favors Treasury in Coinbase-backed lawsuit over Tornado Cash sanctions

A district court judge sided with the U.S. Treasury Department in a lawsuit that involves Coinbase and sanctions imposed on crypto mixer Tornado Cash. The decision came as a blow to six plaintiffs who had challenged the agency’s authority in imposing the sanctions on Tornado Cash last year. Tornado Cash is a software, plaintiffs say According to an Aug. 17 filing, district court Judge Robert Pitman granted a summary judgment in favor of the Treasury Department, thereby rejecting the motion brought forward by plaintiffs Joseph Van Loon, Tyler Almeida, Alexander…

HBAR, OP, INJ and RUNE flash bull signals as Bitcoin price looks for stability

boss

Trader sentiment has turned bearish following Bitcoin’s (BTC) 11% slump this week. Although Bitcoin is taking support near $25,000, several analysts are factoring in another leg down toward the crucial $20,000 level. The weakness is not limited to the cryptocurrency markets alone. United States equities markets also witnessed a losing week. The S&P 500 Index fell 2.1% and the Nasdaq Composite dropped about 2.6%, both indices recording a three-week losing streak. This suggests that traders are in a risk-off mode in the near term. Crypto market data daily view. Source:…

Coca-Cola’s new ‘Masterpiece’ NFT collection boasts $543,660 in earnings over 3 days

The recently unveiled “Masterpiece” collection, a curated assembly of digital artwork endorsed by Coca-Cola, generated $543,660 in proceeds from Coinbase’s “Onchain Summer” event.  The event, dedicated to celebrating the inaugural emergence of the Base blockchain, witnessed fervent interest as more than 80,000 collectors zealously acquired eight distinct digital works over the course of 72 hours. The collection interweaves revered classics, such as Edvard Munch’s “The Scream” and Johannes Vermeer’s “Girl with a Pearl Earring,” with contemporary creations from emerging talents including Fatma Ramadan, Aket, Vikram Kushwah, Stefania Tejada, and WonderBuhle.…

Gryphon Digital seeks court dismissal of Sphere 3D’s lawsuit

boss

Crypto miner Gryphon Digital is seeking dismissal from a lawsuit brought by its former partner Sphere 3D over a spoofing attack that resulted in 26 Bitcoins (BTC) being transferred to a fraudulent address. According to the initial complaint filed by Sphere 3D in April, Gryphon CEO Rob Chang allegedly wired 18 BTC in January to a fraudster posing as Sphere 3D’s chief financial officer through a spoofing attack. Within a few days, eight more Bitcoins were sent to the same address, resulting in a total loss of over $500,000 at…

Europe’s new spot Bitcoin ETF boosts market share: BDSwiss

boss

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Mazen Salhab of BDSwiss is optimistic about the future of cryptocurrency. Indeed, the U.S. Securities and Exchange Commission (SEC) is making life tough for crypto businesses like Ripple, Binance and Coinbase in the U.S. However, market sentiments are unlikely to diminish, Salhab says. Read on to hear the recently appointed chief market strategist for BDSwiss MENA (Middle East and North Africa) opine on a variety of topics, including the spot Bitcoin ETF that just went live,…

SpaceX’s Bitcoin dump triggers chain reaction, liquidations surpass $1 billion

Cryptocurrency markets were jolted by SpaceX’s unexpected decision to divest its considerable Bitcoin holdings, leaving experts and enthusiasts alike questioning the rationale behind this move. As Bitcoin’s price plunged below $26,000 following the sale, a domino effect of massive liquidations rippled through the market, surpassing a staggering $1 billion.  SpaceX, an aerospace company led by billionaire CEO Elon Musk, had notably acquired Bitcoin in undisclosed amounts, which initially boosted the cryptocurrency’s value to an all-time high of over $43,000.  However, the recent news of SpaceX’s substantial bitcoin sell-off came as…

Polkadot, Aave weak while Pomerdoge presale is firm

People get exposure to crypto in the hopes of turning in a profit. However, profitability depends on fundamental factors. In 2023, more investors are looking at Pomerdoge, with most opting for its native token, POMD, over Polkadot (DOT) and Aave (AAVE).  Let’s see why. Polkadot staking elevated, prices under pressure DOT remains under pressure, dropping 12% in the last month, and is currently trading at $4.98. However, there is encouraging activity around staking, pushing total value locked (TVL).  On Aug. 11, the staked DOT soared by more than 300% in…

Coinbase enters Canada, Shibarium faces post-launch hurdles, adoption maintains momentum

This week, Coinbase expanded. Shiba Inu’s Shibarium had a rough debut, while crypto adoption maintained momentum, with the Fed and Coca-Cola grabbing headlines. Meanwhile, the crypto market saw significant liquidations. Coinbase extends services to Canadians Coinbase warmly embraced its northern neighbors, throwing open its doors to the citizens of Canada. Starting on Aug. 14, the San Francisco-based exchange extended its services to Canadians. The decision came with an innovation: a partnership with People’s Trust Company to integrate Interac e-Transfers. This strategic move is poised to optimize transaction efficiency for users…