In a recent motion to dismiss a case brought by the Securities and Exchange Commission (SEC), cryptocurrency exchange Kraken argued that the SEC’s legal theory misinterprets crucial aspects of the case. The court document, dated May 9, 2024, claims the SEC fails to identify legitimate investment contracts involved in the transactions on Kraken’s platform. Kraken […] Source BitcoincryptoexchangeExchanges CryptoX Portal
David Bailey, CEO of Bitcoin Magazine, has disclosed his nexus with the campaign of former President Donald Trump. Bailey and his team have advised Trump to develop a Bitcoin and crypto-friendly agenda, including signing a crypto-focused executive order on day one. He declared that crypto enthusiasts will not vote for Trump but against Biden’s crypto […] Original
The U.S. District Court for the District of Columbia has ordered the forfeiture of 279 cryptocurrency accounts containing funds linked to alleged hacks of crypto exchanges by North Korean operatives. This measure is a component of a broader U.S. effort aimed at dismantling cyber operations that finance North Korea’s nuclear and missile initiatives. The decision […] Source BitcoincryptoexchangeExchanges CryptoX Portal
The once-booming cryptocurrency Ripple (XRP) finds itself in a precarious position. The past month has been marked by a significant drop in XRP’s value, leaving investors and analysts in a state of flux. While some fear a continued decline, others see potential for a comeback, with technical indicators hinting at a possible reversal of fortune. However, the road ahead for XRP remains shrouded in uncertainty, with the ongoing legal battle with the SEC and broader market sentiment playing a crucial role. Related Reading A Downturn And Dampened Enthusiasm The last…
Activity on the Bitcoin (BTC) network is approaching historic lows, with traders significantly slowing down transactions in the two months since Bitcoin reached a new all-time high price. Insights from data analytics firm Santiment reveal a slowdown in on-chain activity on the Bitcoin network over the past few months, painting a nuanced picture of the cryptocurrency’s current state. In a May 11 update on X, Santiment highlighted that on-chain activity on the Bitcoin network is the lowest it has been since 2019. This observation stems from a visible downtrend in…
Similar to Bitcoin’s onchain fees, the cost of transacting on the Ethereum network has recently seen a significant decline. Over the previous 68 days, since March 5, 2024, Ethereum’s network fees have fallen by 93.7%, from $30.33 per transfer to $1.91 per transaction. Declining Ethereum Fees: A 68-Day Overview Transacting on the Ethereum blockchain has […] Source CryptoX Portal
On May 12, as bitcoin hovered slightly above the $61,000 mark, two dormant bitcoin wallets, inactive for over ten years and eight months, executed transactions totaling 1,000 bitcoins valued at approximately $61.1 million. It appears that both wallets, created on the same day, were owned by the same individual. Dormant for a Decade: Bitcoin Wallets […] Original
Long-dormant Bitcoin wallets, inactive for nearly 11 years, suddenly transferred a whopping 1,000 Bitcoins (BTC) within a 20-minute window, on-chain analysts reported Sunday. Lookonchain, an analytical tool that offers insights into blockchain activity, noticed that two wallets — “16vRqA” and “1DUJuH” — initially received 500 BTC each in September 2013. At the time, Bitcoin traded at a modest $124 per coin. Fast-forward to today and these once-insignificant transactions have ballooned into a massive windfall. The coins, valued at approximately $60.9 million at the current BTC price, translate to a staggering…
Solana, the high-speed blockchain once hailed as an Ethereum killer, finds itself in choppy waters. After reaching an all-time high of $203 in March 2024, the cryptocurrency has experienced a significant correction, currently trading at $145. Analysts warn of a potential freefall, citing both external market forces and internal ecosystem woes. Related Reading Solana’s Descent: A Shooting Star Loses Its Luster Technical indicators paint a bleak picture for Solana. Alan Santana, a prominent crypto analyst, points to the emergence of bearish candlestick patterns like shooting stars and inverted hammers, alongside…
Donald Trump, the presumptive Republican nominee for the 2024 presidential election, is working with Bitcoin Magazine chief executive officer David Bailey on a crypto policy agenda. In a May 11 post on X, Bailey stated that he has been working with Trump for a month on a so-called “comprehensive executive order” to be signed on “day 1.” “Day 1” also happens to be when Trump, according to comments made in Iowa back in December, plans to be a dictator. Trump later told Time that the remark was made “in jest.”…