Tag: Token

FTX Moves $11M Worth of Crypto, Stirs Rumors of Potential Token Dump

The token movements have sparked rumours that the exchange might be gearing up for potential sell-offs. All eyes are on the bankrupt cryptocurrency exchange FTX after a wallet owned by it was found to have moved a significant amount of crypto assets. According to blockchain analytics platform Arkham Intelligence, the FTX wallet has moved more than $10 million worth of digital assets from the Solana network to Ethereum within the last couple of days. In detail, Arkham’s data suggest that the transfers began on August 31. And, so far, the…

FTX wallet shifts $10M in crypto, sparking fear of token dumps to come

A wallet owned by bankrupt crypto exchange FTX has moved $10 million worth of digital assets from the Solana (SOL) network to Ethereum, sparking concerns it could be the beginning of a series of token dumps amid the exchange’s bankruptcy proceedings.  According to data from blockchain analytics platform Arkham Intelligence, since Aug. 31, the FTX wallet has transferred $6.23 million worth of Ether (ETH) and more than $4 million in altcoins. These included $1.2 million of FTX Token (FTT), $1.8 million worth of Uniswap (UNI), $1.3 million of HXRO (HXRO),…

MakerDAO’s MKR Token Jumps 10%, Defying Crypto Market Slump

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Breaking: Swift, Chainlink, and Major Banks Achieve Multi-Blockchain Token Transfer

Swift, the global financial messaging service, announced on August 31, 2023, that it has successfully conducted a series of experiments to facilitate the transfer of tokenized assets across multiple blockchains. Collaborating with major financial institutions and Chainlink ($LINK), a Web3 services platform, Swift aims to solve the interoperability challenges that have been a barrier to the growth of tokenized asset markets. Major banks involved are: Australia and New Zealand Banking Group Limited (ANZ), BNP Paribas, BNY Mellon, Citi, Clearstream, Euroclear, Lloyds Banking Group, SIX Digital Exchange (SDX), The Depository Trust &…

Judge dismisses class-action suit against Uniswap over token scam losses

The United States District Court of Southern New York has dismissed a class-action suit against Uniswap Labs, its CEO, foundation and venture capital backers brought by plaintiffs who claimed they lost money due to scam tokens on the decentralized cryptocurrency exchange. Judge Katherine Polk Failla, who handed down the dismissal, is also hearing the Securities and Exchange Commission’s case against Coinbase. The suit was brought by six individuals who bought tokens on Uniswap between December 2020 and March 2022. They argued on the behalf of a “nationwide class of users”…

Nigeria’s Patricia crypto exchange seeks to explain its token amid confusion

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The announcement of Patricia Token (PTK) by Nigerian crypto exchange Patricia was greeted by users with scepticism and some suspicion, as they took to social media to question the motives behind the move. Now, in a response to that reaction, the crypto exchange company has released a white paper seeking to explain the intended function of the Patricia Token. According to the released white paper, the Patricia token is not a stable coin but a debt token, issued to customers to manage users’ debt. Patricia said that it will operate similarly…

SUI and HBAR Slump Ahead of Latest Crypto Token Unlocks

Data aggregated by TokenUnlocks shows that Sui plans to increase its allocation of tokens earmarked for staking subsidies from 967,740 to 1 million SUI, worth around $540,000. At the same time, Hedera will allocate 1.15 billion HBAR, or $64.3 million, split between network governance, purchase agreements and ecosystem development. Source

Western Union Embraces Ripple Blockchain And XRP Token For Enhanced Money Transactions

Global money transfer powerhouse Western Union is boldly venturing into the dynamic and rapidly evolving realm of cryptocurrencies, marking a significant and strategic move in its financial landscape. With a storied history of facilitating seamless cross-border transactions, Western Union’s decision to enter the highly-stacked cryptocurrency arena underscores its commitment to innovation and adaptability in an ever-changing financial ecosystem. This strategic move was unveiled by CEO Hikmet Ersek during an analyst conference call, where he revealed Western Union’s active exploration of integrating Ripple’s blockchain technology and its native digital asset, XRP.…

Insider trading claims surface amid token theft

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Former Pepecoin (PEPE) promoter turned crypto influencer Jeremy “Pauly” Cahen has leveled insider trading allegations against the Pepecoin team following the reported theft of around 16 trillion PEPE tokens. Pauly is now exposing team members’ identities, divulging their wallet activities. On-chain analysts also point to significant Pepecoin transactions involving insiders. In an Aug. 26 update, Pauly disclosed that the Pepecoin team possesses approximately $16–17 million in PEPE tokens distributed across nine wallets. Surprisingly, the insiders refrained from selling the holdings. Instead, they strategically offloaded PEPE from a centralized exchange (CEX)…

PEPE Token Tumbles 20% Amid Suspicious Activity

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PEPE, the once-promising meme coin that garnered attention in the past quarter, suffered an unforeseen blow on Thursday as it succumbed to the grip of FUD (fear, uncertainty, and doubt). Despite making waves in recent months, PEPE’s momentum fizzled out by August, exacerbated by a wave of negative sentiment that battered the altcoin. The current price of PEPE stands at a mere $0.000000870194 according to CoinGecko, sustaining a 21% slump in the last 24 hours alone. Over the span of seven days, the meme coin incurred losses of 15.3%, signaling…