Day: November 29, 2023

US Treasury sanctions crypto mixer Sinbad, alleging North Korea ties

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The United States Treasury Department’s Office of Foreign Assets Control (OFAC) imposed sanctions on cryptocurrency mixer Sinbad, alleging the platform was responsible for laundering funds for the North Korea-based hacking group Lazarus. In a Nov. 29 announcement, OFAC said Sinbad had “processed millions of dollars’ worth of virtual currency from Lazarus Group heists,” including the June 2022 hack of Horizon Bridge, the March 2022 hack of Axie Infinity’s Ronin Bridge and the June 2023 hack of Atomic Wallet. The hacks resulted in a combined loss of roughly $820 million at…

SoFi Technologies to cease crypto services by Dec. 19

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United States personal finance company SoFi Technologies will end crypto trading services for its users by Dec. 19. According to the Nov. 29 announcement, new crypto account openings on SoFi are suspended immediately. All existing SoFi crypto users must either migrate their accounts to Blockchain.com or close them. In addition, customers residing in Hawaii, Louisiana, New Jersey, Nevada, Tennessee, Texas or Virginia must liquidate certain altcoins unsupported on Blockchain.com prior to account transfers. New York clients of SoFi crypto must close their accounts by January 2024 due to the unavailability…

Is $20 On The Cards? LINK Price Rides High With Staking Update

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Chainlink, a widely used distributed computing platform, has recently introduced an upgrade to its staking capabilities. Known as Staking v0.2, this new version adds an extra layer of security to the network and stands as a key component of Chainlink’s Economic 2.0 strategy. The anticipated duration for the migration of the protocol for the current v0.1 stakeholders is nine days. Users cannot transfer their staked LINK or the associated rewards to version 0.2 at this time. According to the most recent data, LINK was trading at a price range of…

Bitcoin to hit $50,000 in December: analyst

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In his latest YouTube video on Nov. 29th, popular crypto analyst Ivan On Tech laid out his bullish case for why he believes Bitcoin could reach $50,000 in 2023. Ivan pointed to the approval of a Bitcoin (BTC) ETF as a potential catalyst. He believes there is a 90% chance that all pending Bitcoin ETF applications in the U.S. could get approved by regulators in the first week of January. This would open the floodgates of institutional investment into Bitcoin through regulated investment vehicles. Another factor is the Bitcoin halving…

Blockchain Messaging Platform Wormhole Raises $225M at $2.5B Valuation

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Paradigm Says Blast Is ‘Crossing the Line’ amidst Huge TVL Inflows

The Blast Mainnet is scheduled to go live on February 24, 2024, enabling withdrawals and allowing users to redeem their Blast Points for actual rewards starting from May 24 next year. Recently launched Ethereum (ETH) Layer-2 blockchain Blast has earned itself some popularity in the last few days, although a significant portion of this fame has not been for the right reasons. Blast is the first-ever Layer-2 blockchain protocol to provide its depositors with native yield and this singular action has differentiated it from the likes of top rivals including…

Dogecoin Holders Cross 5 Million, Catalyst For Price To Reach $0.1?

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Dogecoin holders just surpassed 5 million addresses this week, a huge milestone for the meme cryptocurrency. According to data from on-chain analytics platform IntoTheBlock, Dogecoin addresses have been growing steadily since the beginning of the year. At the same time, DOGE is up by 43% from its October bottom of $0.056.  However, this growth is still small when compared to other popular cryptocurrencies, as DOGE is still yet to reach $0.1 this year. This major growth in addresses could be the catalyst needed for Dogecoin to reach its next price…