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...
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...
A Bitcoin whale that has been dormant for over 10 years moved 687 BTC worth $43 million. According to Lookonchain data, the whale received 687.33 Bitcoins (BTC) on Jan. 12, 2014, valued at around $630,000 at the time when BTC’s price was $917. A decade later, the value of Bitcoin has increased almost 70 times, based on the current price...
All 11 spot Bitcoin ETFs saw inflows for the first time since the launch in January. According to Bloomberg analyst Eric Balchunas, such dynamics were recorded on May 3. However, he expressed doubts that such dynamics would ever happen again. Balchunas emphasized that despite the previously recorded outflow of capital from spot Bitcoin ETFs and Bitcoin’s (BTC) fall below $60,000, more...
The cryptocurrency market has witnessed over $210 million worth of liquidations across the board, with long positions accounting for 85% of this bloodbath amid the latest market turmoil. Data from crypto analytics resource Coinglass confirms that market participants have suffered a blow from the recent turbulence, which has triggered a 4% drop in the price of...
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...
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...
On April 23, net daily capital inflows into spot Bitcoin ETFs totaled $31.64 million. According to SoSo Value, despite the decrease in asset inflows from $62 million on April 22 to $31 million on April 23, a positive trend has continued for the third trading day. During this period, Bitcoin funds received $153.29 million from inflows. Source: SoSo...
