Month: August 2023

PEPE Whale Exits After Making Over 54,000x Gain And $1.73 Million In Profit

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One of PEPE’s early adopters is officially out after making over $1.7 million in profit, translating to a 54,725x gain in less than six months. In a tweet shared by Lookonchain on August 26, the meme coin trader bought 1.69 trillion tokens, spending roughly $36, minutes after the project was launched in late April 2023. However, by the time the trader exited, less than six months later, selling off all his tokens, he had realized a decent gain, raking in 1,001 ETH, or roughly $1.7 million at spot rates. PEPE…

Sam Bankman-Fried’s life in jail, Tornado Cash’s turmoil, $3B BTC..

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Top Stories This Week Tornado Cash co-founders charged with money laundering, sanctions violations United States officials pressed charges against the co-founders of crypto mixer Tornado Cash on Aug. 23. Roman Storm and Roman Semenov were both charged with conspiracy to commit money laundering, conspiracy to commit sanctions violations and conspiracy to operate an unlicensed money-transmitting business. Storm was arrested and released on bail a few days later, while Semenov was added to the U.S. list of Specially Designated Nationals and Blocked Persons. Combined, the charges carry a maximum sentence of…

JPMorgan forecasts limited downside for crypto markets: Report

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The cryptocurrency market’s recent downtrend appears to be coming to an end, as JPMorgan’s latest research suggests that most long-position liquidations have been completed. According to a Bloomberg report, analysts for the American bank estimate that the liquidations are “largely behind us.” The prediction is based on the open interest in Bitcoin (BTC) futures contracts on the Chicago Mercantile Exchange (CME) indicating that the selling trend might soon decelerate. Open interest, which refers to active futures contracts, serves as an indicator of market sentiment and the strength of price trends.…

Massive Pepe coin theft sparks allegations of insider trading

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Deflationary meme currency Pepe Coin is embroiled in a web of controversy surrounding a significant token theft and accusations of insider trading. As the Pepe Coin saga unfolds, an on-chain analyst known as Yazan alleges that individuals with privileged access have commenced the liquidation of their PEPE holdings, with a substantial volume of approximately 400 billion PEPE tokens already divested.  Update: The number is now up to 665 billion $PEPE and the wallet selling still has…

Shibarium Launch Proves Positive As Shiba Inu-Based BONE Celebrates New Milestone

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Following its temporary shutdown, Shibarium has made a comeback and relaunched. This release of the layer 2 blockchain has pushed the BONE price upwards, recording new milestones for the token.  Shibarium Relaunch Ignites Bullish Trend For BONE Bone Shibaswap (BONE) has recorded a massive price increase of about 17% in the last 24 hours after Shibarium made an official relaunch and became open to the public on Thursday, August 24. The number of BONE addresses has also increased to 90,151 while SHIB burn rates are running high. Currently, the BONE…

Will US Treasury proposals kill defi? Critics blast new crypto bill

The US Treasury Department recently revealed a proposal outlining new tax rules for the cryptocurrency industry. Among the updates is the introduction of a 1099 form for crypto transactions. The new guidelines also clarify tax obligations for digital asset miners.  The proposed bill appears to exempt miners while potentially impacting cryptocurrency exchanges, causing backlash from the industry, especially decentralized finance (defi) professionals. A tailored tax form The proposed regulations come as a response to the 2021 Infrastructure Investment and Jobs Act, aiming to clarify tax reporting requirements for the rapidly…

AVAX Dump Continues Despite Puma/Roc Nation Sneaker Launch On Avalanche

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AVAX, the native currency of the Avalanche blockchain, is trading at new 2023 lows at the time of writing on August 26. Trading at $10, the coin is down 55% from 2023 highs and roughly 25% alone in August 2023. At this pace, AVAX has not only broken mid-June 2023 lows but could break below the critical June 2021 support. AVAX Is Sinking A look at the daily candlestick arrangement in August shows that sellers have been unwavering and firm despite the general optimism amongst supporters. Of note, it is…

Base Chain TVL Surpasses Cardano As Interest Swells

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Ethereum Layer 2 network “Base” has surpassed Cardano in terms of Total Value Locked (TVL) in just two weeks after its official launch, despite Cardano experiencing a multi-year head start in growth and development.  Base TVL And Trading Volume Rises Above Cardano Presently, Cardano is facing criticism from users due to its TVL falling below that of the newly launched project “Base” built by Coinbase. One individual who has publicly criticized the project is Evan Van Ness, a Consensys member and Ethereum advocate. Van Ness took to his X (formerly…

Shiba Inu Nears Make-Or-Break Resistance Barrier

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The price of Shiba Inu (SHIB) remains entrenched in the red zone, failing to gain momentum even with the much-anticipated return of the ecosystem’s layer 2 solutions protocol, Shibarium.  Led by the renowned developer Shytoshi Kusama, the project encountered a stumbling block when scalability issues prompted the temporary suspension of the mainnet, dampening investor sentiment and impacting SHIB’s value. Unfortunately, the botched launch left its mark on SHIB’s price, contributing to a 4.9% drop over the course of a week. Despite this setback, there is a glimmer of hope evident…

How can the synergy of AI and blockchain disrupt the music industry?

The synergy of AI and blockchain can revolutionize the music industry by enhancing artists’ creative capabilities while preserving transparency and fair revenue distribution among creators.  AI is increasingly being used as a tool for creating new songs or imitating existing music content.  That is why distinguishing human-generated music from AI-generated content is becoming increasingly difficult.  Moreover, AI content is often trained on pre-existing content mostly without its original creators’ knowledge or consent, creating a number of ethical and legal issues, for which there are no clear-cut solutions currently given the rapid…