Coins

Week In Crypto: Bitcoin Shoots Above $24,000 | Litecoin Makes Huge Gains | FinCEN Introduces New Regulations for Crypto Wallets

December 21st, 2020

The last week in crypto has been pretty exciting when it comes to the crypto market rally. The overall cryptocurrency market cap surged by an additional $100 billion with Bitcoin (BTC) leading the show. As said, the world’s largest cryptocurrency surged over 20% over the last week smashing past the resistance of $20,000 and surging…

Mining Rig Makers Race to Create Next-Gen Ethereum Miner Before Staking-Only Kicks In

December 21st, 2020

The Ethereum network’s 2.0 transition has pushed the protocol to become one of the largest staking networks in the world with 1,683,905 ether locked into the contract worth $1 billion today. According to reports from China, while proof-of-work Ethereum miners have two years left to mine the leading crypto asset, ten Chinese mining rig manufacturers…

Just In: FinCEN “Technically” Prohibits Public Comments on Newly Proposed Crypto Wallet Regulations

December 19th, 2020

The much-awaited regulations around crypto wallets  that would extend AML regulations to non-custodial wallets were finally released by the Financial Crimes Enforcement Agency (FinCEN)  called  “Requirements for Certain Transactions Involving Convertible Virtual Currency or Digital Assets.” The new set of rules would require any virtual Asset Service Providers (IDPs) such as exchanges and custodians to…

DeFi News: SushiSwap Breaches Key Resistance of $3 Post Morgan Stanley’s Bullish Push

December 19th, 2020

SushiSwap, the infamous fork of Uniswap which was in the limelight recently for all the wrong reasons seems to be gaining market confidence as the price of the defi token breached the key resistance of $3 today. The defi token was at the center of an exit-scam accusation in September when its price crashed from…

Binance CEO Hints to Add SegWit Support Soon

December 18th, 2020

Binance, one of the leading crypto exchanges in terms of spot volumes and slowly crawling its way in the futures market is known for offering a wide range of trading services and features to its user base. Now the exchange might become among the selected few to integrate SegWit support for scaling bitcoin transactions. Changpeng…

Gold Bull Chris Wood Invests in Bitcoin, Cuts Exposure to Gold

December 18th, 2020

Chris Wood, global head of equity strategy at Jefferies has become the latest mainstream investor to opt for bitcoin in his portfolio at the cost of gold, reported Business Insider. Wood has most of his portfolio invested in US dollar-denominated pension funds established in the third quarter of 2020. Jefferies global head reinstated what many…

Ethereum Remaining Off Exchanges as Gas Fees Spike Again

December 18th, 2020

A number of notable on-chain metrics for Ethereum have emerged recently as its price hit its highest level since May 2018. Ethereum prices have remained stable at around $645 over the past 24 hours as big brother hovers just below its newly formed all-time high. The second largest crypto asset in the world hit a…

XRP Dumps Despite DeFi Promise and Flare (FLR) Airdrop

December 16th, 2020

Ripple’s native token XRP is tanking today just days after a snapshot was taken of holders and balances with the premise of a big DeFi related airdrop. XRP is the worst performing crypto asset in the top fifty by market capitalization over the past 24 hours according to Coingecko. Prices have plummeted 7% since this…

Defi Protocol Founder Tricked, Hacked for $8 Million in Personal Funds

December 16th, 2020

Nexus Mutual founder and chief executive officer Hugh Karp’s personal wallet address has been hacked for more than $8 million. The attacker, a member of the Nexus defi protocol, tricked Karp into signing a transaction that transferred funds to the hacker’s own address. The attacker gained remote access to Karp’s computer and modified his Metamask…

Compound Finance Vote on DAI Liquidation Compensation Nearing Close

December 14th, 2020

A governance vote on the Compound Finance DeFi platform regarding compensation for users that lost finds through DAI liquidations is just hours away from conclusion with votes against dominating. The thirty-second governance proposal would distribute COMP tokens to offset losses incurred by liquidated DAI stablecoin positions. As it stands, a majority vote of 76% is…