The Japanese cryptocurrency trading platform, DMM Bitcoin, recently fell victim to a hack resulting in a significant loss of Bitcoin valued at approximately $305 million on May 31st. The exchange confirmed that 4,502.9 bitcoins were drained from their systems during the attack. Despite this confirmation, DMM Bitcoin has not provided additional information regarding the breach.
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In the current year, amidst a broader market recovery, the XRP Ledger (XRPL) has witnessed a surge in network activity across various metrics. According to the latest report from Messari, active addresses saw a 37% increase, while transactions surged by 113% quarter-over-quarter (QoQ). This growth can be attributed to a concentrated group of around 45,000
In recent times, there has been a noticeable uptick in investor confidence within the crypto market, particularly towards Bitcoin. Despite fluctuations in its price, the premier cryptocurrency has been witnessing a continuous accumulation by large-scale investors. This surge in confidence is evident through the movement of substantial amounts of Bitcoin out of centralized exchanges. According
In the wake of the SEC’s approval of Ethereum Spot ETFs, several asset managers have submitted amended versions of their S-1 forms. Among them, Franklin Templeton has caught the attention of many for being the first potential issuer to reveal a sponsor fee. The New York-based investment firm has proposed a 0.19% fee for its
President Biden recently vetoed H.J. Res. 109, a resolution that aimed to overturn the SEC’s SAB 121 rule. In his statement, Biden highlighted that he believes SAB 121 represents the considered technical views of SEC staff. He emphasized the importance of the rule in setting guardrails for accounting practices to protect consumers and investors. Biden’s
Coinbase recently filed a closing brief with the US Court of Appeals for the Third Circuit on May 31, taking issue with the SEC’s denial of its rulemaking petition. At the heart of the matter is a single sentence in the SEC’s order which “disagreed” with Coinbase’s assertion that current SEC rules are unworkable for
As the cryptocurrency market continues to evolve, the potential launch of US spot Ethereum ETFs is generating a significant amount of buzz. Bloomberg ETF analyst Eric Balchunas recently stated that there is a “legit possibility” that these ETFs could be launched by the end of June. While an earlier mid-June launch is considered a long
The recent ruling by the U.S. District Court for the District of Utah to dismiss the Securities and Exchange Commission’s (SEC) case against Digital Licensing, known as Debt Box, has caused quite a stir. Not only was the case closed without prejudice, but the SEC was also ordered to pay a substantial amount – approximately
The recent announcement of a strategic partnership between cryptocurrency exchange OKX and blockchain technology company Immutable has sent ripples through the gaming industry. This collaboration aims to harness the power of Immutable’s zkEVM solution, a cutting-edge technology that offers enhanced features for gamers and game studios. By leveraging Ethereum’s Virtual Machine (EVM) with improved scalability
Crypto analyst Nick from the Cheeky Crypto YouTube channel has made a bold prediction regarding the future price of Cardano (ADA). He suggests that the cryptocurrency could potentially reach $38 at some point down the line, although he acknowledges that this may not happen in the near future. This extremely optimistic outlook is based on