According to Yves La Rose, the founder and CEO of the EOS Network Foundation (ENF), the blockchain software company Block.one’s failure to financially back the EOS ecosystem after the 2018 initial coin offering (ICO) is one of the many reasons why the community felt compelled to take over. Building Everything From Scratch However, in written answers sent to Bitcoin.com … [Read more...]
South Koreans Report Over $98 Billion in Overseas Crypto Assets
South Korean tax payers have declared some 131 trillion won (more than $ 98 billion) of crypto holdings in overseas accounts this year. The amount was announced by the country’s tax agency and it comes after the authorities in Seoul imposed a mandatory reporting requirement for financial assets held abroad. Almost 1,500 South Korean Firms and Individuals Declare Foreign Crypto … [Read more...]
US Court Orders Collapsed BTC Investment Firm to Pay Over $1.7 Billion in Restitution for Forex Fraud
A United States Federal Court Judge has ordered the collapsed bitcoin investment platform Mirror Trading International to pay over $ 1.7 billion in restitution. Commodity Futures Trading Commission director of enforcement Ian McGinley said the CFTC will not hesitate to go after fraudsters who target U.S. citizens. The Commission again warned that court rulings are not a … [Read more...]
Tether Boasts $72.5 Billion US Treasury Exposure as Interest in National Debt Falters
Tether, the largest stablecoin in the cryptocurrency market, discussed how its leverage of U.S. treasury bills creates a steady demand for U.S. national debt as a backup of the USDT issuance. The company has exposure to almost $ 73 billion in U.S. debt, held directly, indirectly, or as collateral for reverse repo operations. Tether U.S. Treasury Exposure a ‘Call … [Read more...]
Arkham Intelligence Identifies Grayscale’s $16 Billion Onchain Bitcoin Holdings
Arkham Intelligence, a leading crypto analytics firm, unveiled on Wednesday its findings on Grayscale’s Bitcoin Trust onchain holdings. This revelation comes just six days after Arkham shed light on the fund manager’s onchain ethereum assets. Unmasking Grayscale’s Bitcoin Trust: Arkham Intelligence Exposes $ 16 Billion Onchain Bitcoin Assets The crypto … [Read more...]
Casascius Bitcoin Peels: $10M Cashed in 2023, Yet a $1 Billion Stash Remains Unclaimed
While bitcoin (BTC) is already a limited asset, Mike Caldwell’s Casascius physical bitcoins take rarity to a whole new level. Between 2011 and 2013, he endowed over 27,000 coins and bars with nearly 100,000 BTC. As we step into September 2023, a limited supply of 19,082 Casascius physical bitcoins remain in circulation, with around 41,280 BTC yet to be claimed. Just Over … [Read more...]
The Great Shift to Self-Custody: 800,000 BTC Worth Over $20 Billion Pulled From Exchanges in 3 Years
Over the past three years, there’s been a notable movement in bitcoin holdings. Since September 1, 2020, a whopping 804,000 bitcoin, equivalent to $ 20.79 billion, has been pulled from centralized exchanges. Notably, 184,000 BTC of that sum, valued at $ 4.75 billion, was withdrawn in just the last three months. Billions in Bitcoin Withdrawn from Centralized Exchanges … [Read more...]
Crypto Thefts in 2023: Nearly $1 Billion Lost to Scams and Exploits, Reports Certik
According to cybersecurity firm Certik, nearly $ 1 billion in cryptocurrency has been pilfered due to scams, rug pulls, and exploits throughout 2023. The company highlighted that the combined incidents in August alone led to a loss of $ 45.8 million. Certik Analysis: Cryptocurrency Losses Near $ 1 Billion The digital security and smart contract auditing firm Certik disclosed … [Read more...]
Founders of Crypto Mixer Tornado Cash Accused of Laundering $1 Billion
The founders of the cryptocurrency mixing service Tornado Cash were charged Thursday with allegedly helping to launder more than $ 1 billion in digital currency, including funds taken by North Korean hackers. Department of Justice: ‘You Can’t Hide From Us Behind a Keyboard — Whether You’re a Hacker or Facilitator’ Roman Storm and Roman Semenov were indicted federally on … [Read more...]
The Enigmatic Rise of the $3 Billion BTC Whale — Tracing the Mysterious Path of Bitcoin’s Third Largest Wallet
This week, various reports and social media discussions have centered around the third-largest bitcoin (BTC) wallet, a long-standing enigma that potentially maintains the same ownership despite changes in its address. Billion-Dollar Mysteries: The Cryptic Evolution of Bitcoin’s Third-Largest Wallet The mysterious bitcoin wallet has garnered attention as it rose to the … [Read more...]
Ethereum Gears Up for ‘Holesky’ Testnet Launch With 1.6 Billion Testnet Ether
Ethereum developers plan to roll out a new testnet named Holesky, intending to bring 1.6 billion Holesky testnet ether to the network. The core devs of Ethereum highlighted that 1.4 million validators were evaluated for Holesky, with the aim of enhancing the blockchain’s comprehensive development. Ethereum’s Holesky Set to Replace Goerli Testnet in 2023 As reported … [Read more...]
Bitcoin Dips Below $26K in Crypto Market Whirlwind; $1 Billion Liquidated Amid Top Coins’ Tumble
Bitcoin’s value briefly slipped below the $ 26K threshold at 5:50 p.m. Eastern Time on Thursday before swiftly rebounding past the $ 26,000 benchmark. Concurrently, the expansive crypto landscape experienced an 8% tumble against the U.S. dollar, teetering dangerously close to dropping below the $ 1 trillion threshold. Moreover, a staggering $ 1 billion in derivatives … [Read more...]
Bitgo Secures $100 Million in Series C, Firm’s Valuation Climbs to $1.75 Billion
The digital asset trust firm Bitgo, headquartered in Palo Alto, California, has secured $ 100 million in a Series C funding round. While the company remains tight-lipped about the participants in this financial endeavor, this fresh infusion of capital catapults the firm’s post-valuation to $ 1.75 billion. Bitgo Raises $ 100 Million From Undisclosed Investors Bitgo has … [Read more...]
Michael Burry Bets $1.6 Billion Against Market: ‘Big Short’ Investor Takes Bearish Stance on S&P 500 and Nasdaq
In filings with securities authorities released on Monday, renowned hedge fund manager Michael Burry, whose exploits were famously captured in the film “The Big Short,” took a bearish stance on the market. Burry’s Scion Asset Management shorted the S&P 500 and Nasdaq 100 for the close of the second quarter, wagering approximately $ 1.6 billion on an … [Read more...]
Defi Market Rebounds: Value Locked Rises to Nearly $42 Billion, Token Market Swells
On the verge of dipping below the $ 40 billion mark on August 2, the overall value locked in decentralized finance (defi) has made a comeback, rising to over $ 41 billion. Additionally, the defi crypto sector has swelled to $ 45.08 billion, reflecting a 6.17% rise in just a day. Defi Resurgence: $ 45 Billion Market Cap Achieved Amidst Mixed Performance in Top Tokens As of … [Read more...]
