Centralization in the cryptocurrency market poses a significant threat to the decentralized nature of the industry. Projects like Polygon (MATIC) and Shiba Inu (SHIB) have come under scrutiny for the high concentration of holdings among the top wallets. For example, Polygon’s top ten wallets control a staggering 69.4% of its total market capitalization, making it
Crypto
The past week has been a wild ride for bitcoin and most altcoins in the cryptocurrency markets. Bitcoin started the week strong, rising above $64,000 after bullish developments in the US, including hints of interest rate cuts by Fed Chair Jerome Powell. However, the weekend was quiet for bitcoin, despite turmoil in the crypto market
Floki Inu (FLOKI) recently experienced a drastic decline of close to 20%, resulting in its position dropping among the top 5 meme coins in the market. The current trading price of FLOKI stands at approximately $0.0001272, with a market capitalization of $1.23 billion. As a result of this downturn, Bonk Inu (BONK) has overtaken FLOKI
Recently, Elon Musk, the CEO of Tesla Inc., successfully had a high-profile $258 billion lawsuit thrown out. The lawsuit accused him and his company of manipulating the price of Dogecoin (DOGE), a popular meme-based cryptocurrency. The lawsuit was filed in June 2022 by a group of disgruntled investors who claimed that Musk and Tesla used
In the world of cryptocurrency, meme coins have gained significant popularity in recent years. These coins, which are often characterized by their humorous and light-hearted nature, have attracted a loyal following of investors. Among the top meme coins, Popcat has shown remarkable strength in the past week, with a staggering 52% increase in price by
Binance, the world’s largest crypto exchange, recently announced the addition of new trading pairs and services to its platform. This move is aimed at expanding user options and enhancing the overall trading experience for its customers. The new trading pairs include DOGS/BRL, DOGS/USDC, RARE/BRL, and RARE/USDC, which will be available on Binance Spot starting today.
The US Securities and Exchange Commission has been actively targeting various cryptocurrency platforms in recent times, with mixed results. Despite their efforts, many companies continue to operate in the space, pushing the boundaries of what is considered legal and compliant with regulations. The latest platform to come under scrutiny is OpenSea, a popular NFT marketplace.
Cardano, a popular blockchain platform, is preparing for a significant upgrade known as the Chang hard fork. This upgrade is poised to introduce new features and solidify the network’s transition into a community-run ecosystem. Originally scheduled for deployment on August 27, the launch date was pushed back to September 1, 2024, to allow crypto exchanges
Maker, a prominent DeFi lending protocol on Ethereum, has recently undergone a rebranding to “Sky” alongside upgrades to its decentralized stablecoin system. Along with this rebranding, the stablecoin DAI has been transformed into USDS, and the governance token MKR has been changed to SKY. This move signifies a new chapter for Maker and its community.
Shan Hanes, the former CEO of Heartland Tri-State Bank (HTSB), was sentenced to 293 months in federal prison for embezzling a staggering $47.1 million in a cryptocurrency fraud scheme. His actions led to the collapse of the bank, leaving investors reeling from the $9 million loss they suffered. The Scheme Unveiled Hanes executed 11 unauthorized