Yen, the third-most traded fiat currency in foreign exchange markets, has fallen flat against Bitcoin. The Japanese yen crashed to a 34-year low as authorities struggled to stem hyperinflation in the economy. According to Bloomberg, Japan’s sovereign fiat money suffers mainly due to a difference between local interest rates and U.S. Federal Reserve rates. While the Japanese...
The BNB Chain ecosystem has announced the addition of native liquid staking to BNB Smart Chain. The BNB Smart Chain (BSC) team has announced that Liquid Staking Integration (LSDFi) is planned for April to early May. LSDFi will become one of the stages of preparation for the final shutdown of the BNB Beacon Chain in June 2024. Moving all...
The U.S. SEC has again postponed its decision on applications for spot Bitcoin ETF options. According to a recent filing, the SEC delayed its decision to launch options trading on the Bitcoin ETF while requesting public comment. The SEC said comments must be provided within the next 21 days and rebuttals within 35 days. The agency has questioned whether options on spot Bitcoin ETFs should...
Crypto influencer Rekt Fencer shared a Bitcoin trading algorithm built with OpenAI’s ChatGPT, but users are skeptical about the bot’s results. Trading algorithms are not exclusive to cryptocurrencies; they are tools in any financial market that automate processes. The idea revolves around establishing presets based on advanced mathematical models to execute trades aligned with pre-determined rules...
YIEDL, an AI-based crypto trading platform, is the latest target of a security breach, with hackers leveraging the opportunity to steal $157,000 worth of several crypto assets across multiple transactions. According to blockchain security platform Cyvers, the attackers exploited a flaw in the YIEDL contract’s “redeem function.” For context, this function facilitates the management of asset...
Regulators in the United States are seeking $5.3 billion in fines from Terraform Labs and its co-founder, Do Kwon, following a verdict in its civil case. According to an April 19 filing with the U.S. District Court for the Southern District of New York, the Securities and Exchange Commission (SEC) has asked Kwon and Terraform Labs to pay...
The largest electric vehicle (EV) manufacturer, Tesla, released its financial report for Q1 2024 with no signs of selling any of its Bitcoin (BTC) holdings while its total revenue plunged. According to the report, Tesla’s total revenue declined by 15.3% between Q4 2023 and Q1 2024 — falling from $25.1 billion to $21.3 billion. The company’s total...
Polymarket issues a public statement addressing the recent “retardio” incident involving an intern’s posts, expressing apologies for “inappropriate language.” Polymarket, a decentralized prediction market platform that allows users to place bets on world events, has found itself in hot water after its intern published a series of posts on X, which resemble together the word “retardio.” In an...
Nigeria’s central bank denies false claims made by crypto media, asserting that it didn’t mandate local banks to freeze accounts associated with unlicensed crypto exchanges. The Central Bank of Nigeria (CBN) says it didn’t order local financial institutions to freeze accounts linked to unlicensed crypto exchanges after reports surfaced alleging such directives. In an X post, the...
Two sources familiar with the matter say that the defunct cryptocurrency exchange FTX is looking to auction off the remainder of its Solana (SOL) token holdings. Speaking to Bloomberg, the sources revealed that a “blind auction” is set to be held this week with an April 24 deadline. The result is slated to be announced the following day. The...
