Tag: Million

Ukraine Government Reveals Crypto Firms Have Cost The Country $81 Million In Lost Taxes

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According to data released by the Ukrainian government, cryptocurrency firms offering services in Ukraine have failed to contribute over $81 million in taxes to the country’s budget in the past decade. This comes after the country passed a crypto bill into law in 2022 that amends its tax code to allow the country to generate taxes from cryptocurrency transactions. A Huge Loss In Revenue For Ukraine In a notice released on Wednesday, the Economic Security Bureau of Ukraine stated that unrelated cryptocurrency exchanges were responsible for the loss of approximately…

Buying Pressure Incoming? MicroStrategy Files Notice With SEC To Sell $750 Million In Stocks

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In a recent development, MicroStrategy, a US-based software firm, has announced intentions to raise about $750 million through stock sales. According to the platform, which is currently one of the biggest corporate holders of Bitcoin, proceeds realized from the sale will be used to purchase more Bitcoin. More BTC For MicroStrategy? In a filing with the United States Securities and Exchange Commission on August 1, MicroStrategy disclosed that it has entered into a sales contract with three companies, namely Canaccord Genuity, Cowen and Company, and Berenberg Capital, with respect to…

Over $28 Million In SHIB Withdrawn From Exchanges Ahead Of Shibarium Launch

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The Shibarium Layer-2 upgrade is launching any day now, and it looks like some big SHIB players are making moves ahead of the launch. According to on-chain data, over $28 million in SHIB tokens have been withdrawn from major crypto exchanges in the just concluded month of July.  Massive Withdrawals Signal Investor Interest in Shibarium According to data shared on Twitter by crypto analyst Ali Martinez, backed up by on-chain chart data from IntoTheBlock, around 3.30 trillion SHIB were withdrawn from known crypto exchanges in July, the highest SHIB withdrawal…

Michael Egorov’s $100 Million Position, A Risk To Curve Finance And DeFi?

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Following the recent exploit of Curve Finance pools, there have been genuine concerns about the stability of the decentralized exchange and the Decentralized Finance (DeFi) ecosystem. A new report has emerged, raising questions about Curve founder Michael Egorov’s $100 million loan positions. These positions have garnered significant interest, as they are backed by about 47% of the entire CRV circulating supply. With the price of CRV dwindling, these debts appear to be at risk of liquidation, putting the Curve protocol, CRV investors, and the overall DeFi space on edge.  A…

New meme coin raises over $6.5 million and could dethrone Shiba Inu

DigiToads, a new meme coin project, has raised over $6.5 million in its ongoing presale, drawing the attention of investors and enthusiasts.  Its non-fungible token (NFT) staking platform and trading competitions set it apart from other meme coins. For this reason, investors can explore the project as they diversify their portfolios. Experts predict DigiToads’ gaming technology will likely continue supporting prices in 2023, even dethroning Shiba Inu (SHIB). DigiToads presale surpassing expectations DigiToads has raised over $6.5 million in its presale.  The platform is gaining traction as a potential rival to…

How A $100 Million Memecoin Became Worthless Overnight

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On July 30, a meme coin called BaldBaseBald (BALD) launched on Base Network, Coinbase’s new Layer 2 built on Optimism. The coin referenced Brian Armstrong, Coinbase’s “bald” founder, and quickly became a coordination point for speculators on the frontier chain.  Within two days, the token had reached a market cap of $100 million, with over $25 million in liquidity. However, the token’s meteoric rise turned out to be a classic case of market manipulation, as the deployer behind the token, BaldBaseBald, rug pulled the token and caused its price to…

Ethereum Wallet Dormant For 8 Years Awakens, Here Is Why It Moved $1.2 Million In ETH

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The Ethereum ecosystem has continued to see fascinating developments in the past weeks. Among the most notable is the sudden movement from a participant in Ethereum’s initial coin offering (ICO), who, after a roughly eight-year slumber, has sprung into action due to a reason. The Ethereum ICO participant, whose address remained inactive for 2,922 days, stirred up by transferring 641 ether, an amount currently valued at nearly $1.2 million. An Unexpected Move In The Ethereum Ecosystem The intent behind these transactions was revealed through on-chain analytics X (Twitter) account Lookonchain,…

DeFi Protocol Sparks Speculation Of $16 Million Rug Pull After Severing Lines of Communication

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DeFi protocol, Hector Network, has closed its official Discord server, leaving many investors in the dark. The move comes amidst growing suspicions of a $16 million rug pull engineered through a so-called hard rug, a process where funds are quickly moved, leaving investors with shitcoins. This comes after a controversial rage-quit vote organized by the project’s DAO.  DeFi Protocol Hector Network Leaves Investors In Limbo Hector Network investors woke up to the news that the DeFi protocol had cut off communications on its official Discord server. The Discord server was…

Flashbots becomes unicorn after raising $60 million

San Francisco-based firm Paradigm has invested $60 million to support the development of Flashbots’ new Ethereum blockchain transaction packaging software version.  Notably, the series B funding round contrasts with the current trend among Silicon Valley venture capitalists. Flashbots fosters transparency Flashbots, a Cayman Islands-based software provider that bundles Ethereum blockchain transactions, secured funding via “decentralization beauty contest.” This involves selecting investors through reverse pitches. The funding has led to a valuation of at least $1 billion, as confirmed by a Flashbots representative. Since 88% of validators collaborate with entities like Flashbots to…