Category: Reviews

IOTA’s ShimmerEVM Bridge Goes Live in Strategic Linkup with LayerZero

The timing for the launch of the ShimmerEVM Bridge is a perfect one, considering the broader expansion underway in the IOTA ecosystem. The ShimmerEVM protocol from IOTA is advancing an impressive cross-chain interoperability protocol with the integration of LayerZero’s technology to enhance its bridging capabilities. As reported by Coindesk based on the scoop from the network’s developers, the Shimmer Bridge through which associated protocols can connect to other non-IOTA-based chains resident on LayerZero has officially gone live. As part of the Shimmer network, a testing ground for applications before they…

Cryptocurrency Hedge Funds Gearing for Strong 2024 after Last Year’s Crypto Winter

While the average performance of crypto funds did not match the more than 150% rally in Bitcoin this year, the positive shift in fortunes is a promising development for the industry. After facing a strong crypto winter in 2022 following the collapse of Three Arrows Capital (3AC), crypto hedge funds are making a comeback. Crypto hedge funds demonstrated a notable recovery, posting an average return of 44% by December 20, bouncing back from a 52% loss in 2022, according to a Bloomberg index monitoring their performance. Although this performance marked…

South Korea Takes Major Step towards Cryptocurrency Transparency: 5,800 Officials to Disclose Holdings in 2024

By compelling influential political leaders and bureaucrats to share their virtual currency investments, South Korea hopes to heighten transparency surrounding public-sector finances. South Korea is set to begin disclosing the cryptocurrency holdings of top public officials beginning in 2024, marking a monumental push toward transparency and accountability in government services. According to an announcement from the Ministry of Personnel Management, approximately 5,800 elected officials and government employees will need to report their crypto assets next year. The disclosures are part of South Korea’s public ethics and transparency initiative system, which…

Grayscale Files Amended ETF Application Following Silbert’s Resignation

The amended ETF application came after a series of meetings between Grayscale and the SEC in December. Leading asset manager Grayscale Investments has filed an amended S-3 application seeking to convert its Grayscale Bitcoin Trust (GBTC) to a spot Bitcoin ETF. Bloomberg analyst James Seyffart confirmed the reapplication with the Securities and Exchange Commission (SEC) on Tuesday, just a few hours after the CEO of the firm’s parent company, Barry Silbert, resigned. Grayscale Finally Yields to SEC’s Pressure The amended application came after a series of meetings between Grayscale and…

BTC Price at $43K, ‘Smart Money’ Bets Big on Bitcoin Ahead of Potential BTC ETF Approval

The “smart money index”, which measures the net bullish bets by institutional players through Chicago Mercantile Exchange (CME) Bitcoin futures, has reached an all-time high of over 13,700 in recent days. Large investors have taken large long positions in the Bitcoin (BTC) futures market, indicating that institutional capital is flooding into the coin in anticipation of the SEC potentially approving a spot Bitcoin exchange-traded fund (ETF). Meanwhile, Bitcoin is trading today at around $43,000. According to data from MacroMicro, a leading derivatives analytics firm in Taiwan, the “smart money index”,…

Mt. Gox Creditors Accidentally Paid Twice in Rehabilitation Settlement

The accidental double payment of settlement funds to Mt. Gox creditors adds a new chapter to the saga of one of the crypto industry’s earliest and most remarkable failures. In a recent development, multiple reports on Reddit indicate that some creditors of the infamous Mt. Gox crypto exchange have received settlement funds twice due to a system glitch. The revelations have led to discussions, debates, and even humor within the crypto community. Mt. Gox Creditors Email Admission The issue came to light when Reddit user u/rlycreativename shared the contents of an…

US Recession 2024 Becomes Hot Debate among Economists Sharing Mixed Views

2024 could be a slower year for the business landscape in the US economy, however, many economists are positive that the US recession could be thwarted with a soft landing. Bulls made a strong comeback this year in 2023, and as the year ends, the Fed has given major signals of interest rate cuts in 2024. This has kept the markets upbeat and investors bullish on Wall Street. Does this mean that the US economy is completely out of the woods? Well, not entirely as economists share mixed opinions of…

BNB Price Targets $500 as Crucial Resistance Breaks, What’s Behind This Surge?

The Binance Smart Chain has also witnessed a 7% increase in the number of addresses engaging with its dApps over the past 30 days. On December 26, the native cryptocurrency of the Binance Smart Chain registered an 11% increase in price, reaching its highest value since June. This pattern reflects a continuation of the trend that began last week when the price surged from $233 to $277, an 18% increase, before closing around $264. Although the price is currently experiencing a minor retracement from yesterday’s gains, the overall trend appears…

Trading Platform Thunder Terminal Faces $240K Exploit, Says Funds Are SAFU

Thunder Terminal successfully thwarted a $240,000 exploit targeting 114 wallets, ensuring user funds’ security. The incident involved an attacker gaining access to a MongoDB connection URL, executing withdrawals on behalf of users. The on-chain trading platform Thunder Terminal successfully thwarted a $240,000 exploit that targeted 114 wallets on its platform, assuring users that their funds are secure. Despite this, the hacker refutes the claims, labeling them as “all lies” and is now demanding an additional ransom for user data. According to Thunder’s incident report on December 27, no private keys…

Grayscale Investments’ Top Executives Barry Silbert and Mark Murphy Resign from Board of Directors

In addition to top executives stepping aside from the board of directors, Grayscale Investments also filed an updated spot Bitcoin ETF application with the SEC on Tuesday. Top cryptocurrency investor Grayscale Investments LLC has been preparing to offer spot Bitcoin exchange-traded funds (ETF) in a bid to widen its market share. On Tuesday, the company made several moves to ensure an imminent approval of spot BTC ETF, which is anticipated to happen in the next few weeks. Grayscale Investments announced on Tuesday that its chairman and founder of Digital Currency…