AscendEX’s hot wallet was hacked, and several millions of dollars in Ethereum (ETH), Binance Smart Chain (BSC), and Polygon-based (POLY) assets were looted. AscendEX, a worldwide virtual assets trading platform, has just reported a $77.7 million loss as a result of the latest hot wallet vulnerability, which allowed hackers to acquire direct exposure and then … Read more
Officials from the Bank of Thailand claim that utilizing cryptocurrencies as a form of payment is legal. Users, on the other hand, must be able to take the risks, which include price fluctuations. In Thailand, using cryptocurrencies to pay for goods and services is not prohibited. The Bank of Thailand’s Monetary Policy Department’s senior director, Sakkapop … Read more
Chairwoman of Federal Deposit Insurance Corporation (FDIC), Jelena McWilliams on Monday in an interview told Reuters that the clients of U.S. officials can hold cryptocurrency and are looking for better and easier ways to bank. If we don’t bring this activity inside the banks, it is going to develop outside of the banks. … The … Read more
Three Arrows Capital, a cryptocurrency hedge fund created by Su Zhu and Kyle Davies in 2012, got $400 million in ether over the weekend, according to reports. Only a few weeks ago, CEO Zhu Su was slamming ETH on Twitter for its high gas costs and lack of accessibility. His company is now purchasing the … Read more
The Financial Services Agency (FSA), Japan’s primary financial regulator, is considering legislation that would limit stablecoin supply to banks and wire transfer providers. Crypto service providers engaging in stablecoin transactions, such as wallets, will be subject to the financial regulator’s scrutiny. The Financial Services Agency of Japan (FSA) intends to tighten stablecoin regulation by putting … Read more
According to a Bank of America analyst, the metaverse represents a massive opportunity for blockchain technology, and it will eventually cause cryptocurrencies to be broadly used for payments. Haim Israel, Managing Director and Global Strategist at Bank of America, highlighted the metaverse as the mechanism that will drive the bitcoin sector into broad adoption provided … Read more
El Salvador’s adoption of bitcoin as a country’s currency has alarmed the governor of the Bank of England, the nation’s central bank. Noting a recent warning from the International Monetary Fund (IMF) regarding bitcoin’s adoption as legal tender, the governor said what would concern him most is whether the residents of El Salvador know the … Read more
For the previous week, the value of bitcoin has remained below $60,000, putting digital currency audiences questioning where the economy will go after that. The crypto economy is rated at $2.81 trillion at the time of posting, and bitcoin’s market dominance has been below 40% for a few days. Bitcoin’s dominance has slipped to 39.7%, … Read more
The London hard fork update took place a few months ago, and it included a mechanism (EIP-1559) that changed Ethereum’s fee structure to a new system that makes ether deflating. Since then, 1 million ethereum has been destroyed, which is roughly comparable to $3.8 billion in today’s exchange rates. Ethereum (ETH), the second-largest crypto asset … Read more
El Salvador has been warned by the International Monetary Fund (IMF) against utilizing bitcoin as legal cash due to the numerous hazards involved with cryptocurrencies. The warning came just one day after Salvadoran President Nayib Bukele declared his intention to establish a “bitcoin metropolis” powered by a volcano and financed with bitcoin bonds. El Salvador … Read more
