The stablecoin HUSD, originally associated with the crypto exchange Huobi Global, lost its peg with the U.S. dollar on Wednesday, August 17, and it dropped even lower in value the following day on Thursday, August 18. On Thursday, Huobi addressed the public on Twitter and the exchange said “we are aware of the current liquidity
High-profile security incidents continue to be a theme in 2022, with the Acala network joining a long list of stricken platforms to fall prey to exploits. The Acala USD (aUSD) token, which acts as a native stablecoin for the Polkadot and Kusama blockchains, saw its value plummet 99% after a misconfiguration of the iBTC/aUSD liquidity
Bitcoin (BTC) long-term holders are knuckling down as a record portion of the BTC supply stays dormant for years. Data from on-chain analytics firm Glassnode confirms that the percentage of the supply now stationary for at least five years is higher than ever. 2017 BTC buyers not this year’s sellers Bitcoin has recovered almost 40%
Unregistered cryptocurrency exchanges operating in South Korea could see their services grind to a halt as the Korea Financial Intelligence Unit (FIU) takes action against 16 foreign-based firms. The FIU has notified its investigative authority that 16 virtual asset service providers have been carrying out business without the necessary registrations. Major exchanges, including the likes
David Schwartz, the chief technical officer of Ripple, didn’t take Ethereum co-founder Vitalik Buterin’s dig on XRP very kindly. In a discussion that started around the recent $30,000 limit imposed by the Ontario crypto exchange on altcoins purchases barring Ether (ETH), Litecoin (LTC) and Bitcoin Cash (BCH). Buterin, in a quoted response to a tweet,
While some think the Tornado Cash ban may negatively impact other projects focusing on privacy, others believe that these projects will keep pushing forward and keeping their commitments to anti-censorship and decentralization. In an interview with Cointelegraph, Ahmed Ghappour, the general counsel at the privacy-focused project Nym Technologies, shared insights on the importance of privacy
The new burn NFT feature launched by Phantom will help users to permanently burn spam NFTs The initiative has been launched to curb malicious activities on Phantom and bolster its security up a notch Solana blockchain-based Phantom wallet is amping up its security features by launching a new mechanism called “Burn NFTs” on its platform.
The crypto community has poured in an impressive $54 million worth of crypto funds through Aid For Ukraine, aimed at supporting the country’s military efforts against Russia, the Ukrainian Deputy Prime Minister has revealed. The $54 million has been funneled in through the Ukrainian government-run initiative Aid For Ukraine, according to Ukraine’s Deputy Prime Minister
Manchester United Fan Token (MUFC) is a dead coin and not related to the sports franchise, but one Elon Musk tweet was enough to revive it on Aug. 17. Also, I’m buying Manchester United ur welcome — Elon Musk (@elonmusk) August 17, 2022 Fake Man U token pumps after Elon Musk’s tweet To clarify, MUFC
Bitcoin’s (BTC) bounce fizzled out near $24,500 on Aug. 17, indicating that the recovery still faces stiff resistance from the bears. On-chain monitoring resource Material Indicators said the ask liquidity on the Fire Charts was similar to prior local tops. Another reason for caution among crypto investors was that the recovery in the S&P 500
The Ethereum network’s long-awaited transition from proof-of-work to proof-of-stake is set to occur from Sept 15 to 16 and for the last year, traders and analysts have been discussing various outcomes for the upgrade and possible trading strategies. Let’s take a look at three options investors and traders have. Hodl ETH to earn the expected
A South Korean town near Seoul has been successfully operating a pilot program that allows police to seize crypto from the exchange accounts of individuals with delinquent traffic fines. Gunpo, a city of about 275,000 in the northwestern Gyeonggi province was selected by the national government to execute the pilot program in 2022 which an
Chainalysis has found that illicit crypto volumes are down this year, with total scam revenue sitting at $1.6 billion, 65% lower than where it was through the end of July last year. “Those numbers suggest that fewer people than ever are falling for cryptocurrency scams,” the blockchain data analytics firm wrote. Data Shows Illicit Crypto
Summary: The Ethereum Foundation released an update to debunk misinformation regarding the Merge. ETH’s switch from Proof-of-Work to Proof-of-Stake is scheduled to happen on or around September 15. Final tests and upgrades are in the works after a successful Merge on the Goerli public testnet. False statements have flooded the crypto community in the weeks
For all the good that Bitcoin brings to the table, it also possesses a commonly accepted issue in scalability. Bitcoin can only process a limited number of transactions per block and, as of Aug. 17, 2022, can handle about five transactions per second, which in comparison to most other blockchains is low. The factor limiting
According to a new clarification by the Ethereum Foundation on Wednesday, the network’s upcoming proof-of-stake transitory upgrade — dubbed the “Merge,” — will not reduce gas fees. Regarding this, the Ethereum Foundation wrote: “Gas fees are a product of network demand relative to the network’s capacity. The Merge deprecates the use of proof-of-work, transitioning to