Cryptocurrency

Despite the recent negative crypto and macroeconomic newsflow, the total cryptocurrency market capitalization broke above $1 trillion on Jan. 21. An encouraging sign is that derivatives metrics are not showing increased demand from bearish traders at the moment.  Total crypto market cap in USD, 1-day. Source: TradingView Bitcoin (BTC) price gained 8% this week, stabilizing

Azuki, a popular nonfungible token (NFT) project, had its Twitter account compromised on Jan. 27 leading to hackers stealing over $750,000 worth of USD Coin (USDC) by posting a malicious “wallet drainer link” posed as a virtual land mint. Hackers stole $751,321.80 USDC from a single wallet within half an hour of the malicious links being tweeted, according

Buying DAO tokens? That’s no longer risk-free: Courts might consider you a partner in the business and judge you liable for millions in hacked funds. Another legal trap may be found simply working for a DAO — and implementing community decisions that turn out to be illegal in some far-flung jurisdiction. With many DAO communities

Artist name: Amber VittoriaLocation: Los AngelesDate minted first NFT: March 1, 2021Which blockchains? Ethereum, Tezos Bio: Before she even turned 30, Amber Vittoria had made a significant splash in the traditional art world with gigs with Gucci, Google, Adidas, Victoria’s Secret, Apple, L’Oréal Paris, Meta, Snapchat, VaynerMedia and The New York Times, Hailing from New

The price of Ether (ETH) rallied 16% between Jan. 14 and Jan. 21, peaking at $1,680 before facing a 5.4% rejection. Curiously, the same resistance level resulted in a substantial correction in late August 2022 and again in early November 2022.  Ether/USD price index, 2-day. Source: TradingView From one side, traders are relieved that Ether

Bitcoin’s (BTC) price has risen about 37% year-to-date and is not showing any signs of slowing down. The S&P 500 index (SPX) has also made a winning start to the year but has seen a relatively muted rally of roughly 4%. While the price of risky assets is rising, the United States Dollar Index (DXY),

Ethereum co-founder Vitalik Buterin has shared a possible solution to what he describes as the “largest remaining challenge” on Ethereum — privacy. In a blog post on Jan. 20, Buterin acknowledged the need to come up with a privacy solution because by default, all information that goes onto a “public blockchain” is public too. He

Top Stories This Week Crypto lender Genesis files for Chapter 11 bankruptcy FTX contagions continue to spread through the crypto industry, with Genesis Capital filing for bankruptcy protection in New York, estimating liabilities in the range of $1 billion to $10 billion, and assets at the same level. The company plans a “dual track process,”

The philanthropic arm of Binance — Binance Charity — is set to fund 30,65 scholarships to students keen on forging out a career in Web3 in 2023. The Binance Charity Scholar Program (BCSP) will provide free Web3 education and training courses which will enable tech-savvy students to upskill without having to leap-frog any unnecessary financial

Three men drove their car into the metal barricade outside Sam Bankman-Fried’s parent’s home where he is under house arrest, SBF’s lawyers claim. In a filing to the federal court, the lawyers for the former FTX CEO said the three men got out of the car after hitting the barricade and told a security guard

Our weekly roundup of news from East Asia curates the industry’s most important developments. Samsung’s new Bitcoin ETF On Jan. 13, Samsung Asset Management, a wholly-owned subsidiary of the namesake South Korean conglomerate, successfully listed the Samsung Bitcoin Futures Active ETF on the Hong Kong Stock Exchange. According to local news outlet Edaily, the ETF

Ether (ETH) price is struggling to overcome resistance at $1,600 and this is the altcoin’s third attempt since September. Some would say the 33% year-to-date rally could be interpreted as a failed opportunity to breach the $200 billion market capitalization mark.  Ether/USD price index, 2-day. Source: TradingView If Ether’s price were to break above $1,600,

Shiba Inu is hoping to become more than just a Dogecoin-inspired meme cryptocurrency as it comes closer to launching its layer-2 network called Shibarium. Meanwhile, the SHIB token has emerged as one of the best-performers so far in 2023. SHIB price jumps 60% in 2023 SHIB’s price has rallied nearly 60% year-to-date (YTD) to $0.00001294, its highest since

Non-fungible tokens (NFTs), decentralized autonomous organizations (DAOs), and decentralized finance (DeFi) are redefining how charities raise donations and distribute funds to those most in need.  Through ever-evolving crypto and blockchain-related technology, crypto philanthropists told Cointelegraph that they’ve witnessed “new wealth distribution mechanisms” never seen before.  “Philanthropy has traditionally been seen as a high-cost-of-entry, individualistic activity but with

The Central Bank of Iran is reportedly cooperating with the Russian government to jointly issue a new cryptocurrency backed by gold. According to the Russian news agency Vedomosti, Iran is working with Russia to create a “token of the Persian Gulf region” that would serve as a payment method in foreign trade. The token is

SkyBridge Capital founder Anthony Scaramucci is investing in a crypto company founded by the former president of FTX US. Scaramucci told Bloomberg in an email that he would be investing his own personal funds to support ex-FTX US president Brett Harrison’s new venture, which was revealed just three weeks after the collapse of crypto exchange FTX. It

The total cryptocurrency market capitalization reached its highest level in over two months on Jan. 13 after breaking above the $900 billion mark on Jan. 12. While the 15.5% year-to-date gain sounds promising, the level is still 50% below the $1.88 trillion crypto market cap seen before the Terra-Luna ecosystem collapsed in April 2022. Crypto

Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you significant developments over the last week. The DeFi ecosystem started 2023 on a bullish note, similar to the broader cryptocurrency market. However, the bullish start to the year didn’t diminish the damage caused by vulnerabilities

Eight major media companies — including Bloomberg, the Financial Times and Reuters — have demanded public disclosure of the two individuals responsible for guaranteeing FTX former CEO Sam Bankman-Fried’s $250 million bond.  In a Jan. 12 letter addressed to New York District Court Judge Lewis Kaplan, attorneys from Davis Wright Tremaine LLP — acting on behalf

‘Degen’ season smells like pixelated feet Feetpix.wtf’s newly launched nonfungible token (NFT) collection, “Feetpix,” has seemingly taken the NFT community by storm with surging trading volumes, prompting some to suggest the return of “degen” season. Feetpix.wtf’s collection soared ahead of Bored Ape Yacht Club (BAYC) on Jan. 11 with the fifth-highest trading volume recorded on