The global cryptocurrency market is witnessing correction with some investors shifting focus to stablecoins. According to data provided by CoinGecko, the total crypto market cap slipped by 04% in the past 24 hours — falling from $2.38 trillion to $2.34. The global daily trading volume, however, increased by 27%, surpassing the $52 billion mark. Global crypto market cap –...
Authorities in China have arrested six individuals suspected of engaging in illicit cryptocurrency transactions amounting to 2.94 billion yuan — worth roughly $300 million. According to a May 10 report by local media outlet Chinanews, the suspects were taken into custody by The Public Security Bureau of Panshi in the Northeast Chinese province of Jilin. The authorities claim...
Bitcoin and other leading cryptocurrencies may be showing bearish trends, but Solana meme coin Catwifhat (CWIF) is bucking that pattern. Catwifhat, a feline-themed counterpart to Soalna memecoin Dogwifhat, is back on an upward trajectory. The coin has surged by 42% today, reaching $0.00000082 following a 60% jump in trading volume. Data from CoinMarketCap reveals that Catwifhat has...
ChatGPT’s security audit shows major centralization flaws in the Tomwifhat (TWIF) — a memecoin on the BNB Smart Chain (BSC) and Ethereum smart contract. With the rise of dogwifhat (WIF) in late December 2023, the number of fraudulent memecoins with the hat theme has also increased. According to the ChatGPT analysis, the owner of the TWIF smart contract used...
NFT marketplace OpenSea is seeing user activity drop on its platform to its lowest level since 2021. The NFT platform, once hailed as the leading NFT marketplace, is now struggling to hold its dominance as newer platforms like Magic Eden and Blur are capturing more activity. Data from Token terminal show that OpenSea’s NFT trading volumes have nosedived 33% over the past...
Emart24, a prominent South Korean convenience store chain, is set to introduce a Bitcoin-themed meal box as an in-store item. According to a May 9 announcement, the company has joined hands with local cryptocurrency exchange Bithumb to bring the Bitcoin delicacy to life. The partnership will make 30,000 of these meal boxes available by the end of the...
Dragonfly Capital has passed on investing in Eclipse as sexual harassment allegations against its CEO, Neel Somani, have come to light. In a May 10 X post, Haseeb Qureshi, managing partner of crypto VC firm Dragonfly Capital, said that his firm declined to invest in Eclipse while completing due diligence on the L2 solution. During the process, Dragonfly discovered...
Roger Ver spoke at Token2049 in Dubai last month — weeks prior to his arrest — about his commitment to cryptocurrency freedom as a bulwark against tyranny. Ver’s speech at TOKEN2049 in Dubai showcased his commitment to cryptocurrency as a tool for financial freedom and privacy. While he has been a vocal proponent of privacy and control over personal financial...
The outflow of investments in digital assets for the fourth week in a row amounted to $251 million. According to CoinShares data, the week from April 27 to May 3 marked the first time there were any measurable outflows from newly issued U.S. ETFs. The average purchase price of the underlying ETF asset since launch is $62,200 per...
Binance, crypto’s largest exchange, disclosed reserve increments across the top five digital assets by market cap despite a slump in prices over the past month. The Binance proof-of-reserve (PoR) reported an excess backing of at least over 104% for Bitcoin (BTC), Ethereum (ETH), Tether (USDT), BNB, and Solana (SOL). “When we say Proof of Reserves, we are specifically...
