Category: Other Crypto News

Fenbushi Co-Founder Offers Bounty to Recover $42M Stolen Crypto

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Investigators have frozen about $1.2 million as efforts continue to trace funds lost in a wallet breach linked to a seed phrase compromise. Bo Shen, the co-founder of venture capital firm Fenbushi Capital, offered a bounty to recover about $42 million in digital assets stolen from his personal wallet in a 2022 hack.  Shen said Thursday that he was offering a 10%-20% bounty on the recovered amount to any individual or organization that makes a substantial contribution to recovering the assets. Shen said onchain investigators ZachXBT and Taylor “Tayvano” Monahan had…

Bitcoin Whales Go Silent: Large Transactions Plummet

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On-chain data shows the Bitcoin Whale Transaction Count has witnessed a drawdown recently, a sign that big-money investors have reduced their activity. Bitcoin Whale Transaction Count Has Dropped To Lows In a new post on X, analytics firm Santiment has talked about the latest trend in the Bitcoin Whale Transaction Count. This indicator measures the daily total number of transfers occurring on the BTC network that involve a sum of more than $100,000. Transactions with such a large value are usually considered to be coming from the whale entities, so…

UK Pushes Ahead Temporary Ban Crypto Political Donations

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The UK government is advancing plans for a moratorium on political donations made through cryptocurrencies, following an independent review and pressure from multiple high-ranking politicians. Cointelegraph reported on Wednesday that the Rycroft Review, an independent inquiry into foreign financial interference in the UK’s political and electoral systems, recommended a moratorium on crypto donations to political parties. New statements from UK Prime Minister Keir Starmer on Wednesday have confirmed that they will pursue the temporary ban. “I can tell the House we will act decisively to protect our democracy. That will…

Coinbase Not Supporting New Crypto Bill Compromise: Report

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Crypto exchange Coinbase is reportedly against the latest compromise over stablecoin yields that the Senate is looking to include in its crypto market structure bill. Coinbase representatives told Senate lawmakers in a meeting on Monday that they had concerns over the language around stablecoin yields in the new compromise version of the bill, Punchbowl News reported Wednesday, citing four people briefed on the exchange. A proposal that circulated earlier this week would have reportedly prevented third parties, such as exchanges, from paying stablecoin yields, a measure aimed at addressing banks’…

Bitcoin Must Face Quantum Threat to Beat Ethereum

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Crypto entrepreneur Nic Carter has urged Bitcoin developers to catch up on quantum resistance or risk losing out to Ethereum, which already has a post-quantum roadmap.  Elliptic curve cryptography (ECC) is the math that keeps Bitcoin (BTC) secure. Users pick a secret number (private key) and, using a special curved line and simple multiplication rules on that line, can quickly create a public address that everyone can see. There are fears that quantum computers will have the ability to break this cryptography. The Bitcoin community is split on how to…

Dogecoin (DOGE) Stalls in Range, Bulls Fail to Seize Momentum

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Dogecoin corrected some gains from the $0.0980 zone against the US Dollar. DOGE is now holding the $0.0940 support and might aim for a fresh increase. DOGE price started a fresh downside correction below $0.0955. The price is trading above the $0.0940 level and the 100-hourly simple moving average. There was a break below a bullish trend line with support at $0.0952 on the hourly chart of the DOGE/USD pair (data source from Kraken). The price could aim for a fresh increase if it remains stable above $0.0928. Dogecoin Price…

Ethereum (ETH) May Be Reversing Course, Says Top Analyst; Watch These Key Resistances

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The market’s second-largest cryptocurrency, Ethereum (ETH), surged nearly 3% on Wednesday, extending a short-term recovery that has brought the altcoin to the key $2,160 level.  Market analyst Ali Martinez flagged the move as part of a potentially significant shift in Ethereum’s technical outlook, writing on social media platform X (previously Twitter) that price action is showing “signs of a major trend shift from bearish to bullish.” On‑Chain Signals Strengthen Breakout Case Martinez pointed to the altcoin’s weekly chart, where Ethereum appears to be tracing an ascending triangle formation. He noted…

RBA Projects $16.7B Annual Gain from RWA Tokenization

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The Reserve Bank of Australia is putting its support behind the real-world asset tokenization sector, citing recent analysis that it could contribute 24 billion Australian dollars ($16.7 billion) to the economy per year.   Australia’s central bank assistant governor Brad Jones shared findings from Project Acacia on Wednesday, commenting that tokenized finance and related infrastructure upgrades will be “revolutionary,” according to advocates.  He said that potential gains for the Australian economy from RWA tokenization were on the order of $16.7 billion per year, “and larger still if new markets emerged.”  “First,…

Circle To Hit $75B By 2030 Despite Clarity Act Concerns – Bitwise

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Circle stock, CRCL, experienced a significant decline over the past day following news of a proposed ban on stablecoin yield. Despite this selloff, Bitwise’s CIO maintains that the market reaction was excessive and projects that the company’s valuation will likely double by 2030. Related Reading Circle Selloff Was ‘Overblown’ – Bitwise CIO On Tuesday, Circle Internet Financial, the issuer behind the USDC stablecoin, saw its stock crash 22% to $98 following reports about lawmakers’ decision on the stablecoin yield dispute. CRCL’s selloff was driven by news that a revised draft…

Bitcoin Depot Appoints Ex-MoneyGram Boss as CEO

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Bitcoin Depot has named the former CEO of payments giant MoneyGram as its new boss amid mounting regulatory pressure from US states over crypto ATM’s use in scams and money laundering.  The company said on Tuesday that Scott Buchanan had immediately stepped down as CEO, a role he served in for less than three months after starting on Jan. 1. It added in a regulatory filing that his resignation “was not due [to] a disagreement.” Bitcoin Depot appointed Alex Holmes, who was already a board member, as CEO and chair.…