Reddit has announced that it will be shutting down its blockchain-based rewards service called “Community Points” due to scalability concerns. This decision has caused the value of Reddit tokens, MOON and BRICK, to plummet, leading to disappointment and anger among Reddit users and crypto enthusiasts. The move has been criticized by traders and users, with […]
Nishad Singh, the former director of engineering at FTX, faced intense cross-examination during the tenth day of the Sam Bankman-Fried (SBF) trial. Singh, who has pleaded guilty to fraud and conspiracy charges, provided further insights into the inner workings of FTX and SBF’s activities. The focus of the day was on the software bug that […]
In a major breakthrough, the perpetrator behind the infamous Silk Road Bitcoin heist has been unmasked nearly a decade after the crime took place. The theft, which occurred in 2012, involved the stealing of 50,000 Bitcoin from the illicit dark web marketplace. Over the years, the value of the stolen Bitcoin skyrocketed to $3 billion, […]
Two Fantom Foundation wallets on Ethereum and the Fantom Network have been targeted in a phishing attack, resulting in a loss of over $650,000. CertiK, a blockchain security firm, reported that the foundation lost $470,000 on Fantom and at least $187,000 on Ethereum. Additionally, a team member of Fantom reportedly lost $3.4 million. The attack […]
Scroll, a new player in the zero-knowledge Ethereum Virtual Machine (zkEVM) sector, has officially launched its mainnet. The team behind Scroll made the announcement on October 17, stating that existing Ethereum applications and developer toolkits can now migrate to their scaling solution. Scroll’s zkEVM aims to reduce transaction costs and increase throughput for decentralized applications […]
The US Securities and Exchange Commission (SEC) has denied reports that it approved BlackRock’s application to launch a Bitcoin exchange-traded fund (ETF). The false reports caused a temporary price rally for Bitcoin. The SEC cautioned against believing unverified sources and urged users to rely on verified information. US attorney John E. Deaton, who represents XRP […]
The bankrupt cryptocurrency exchange FTX has staked around $170 million in various crypto assets, including Solana, Ethereum, and MATIC. Blockchain data shows that the defunct platform has staked over 5.5 million SOL and more than 24,000 ETH. FTX has sent 5.5 million SOL, valued at $122 million, to the Figment network for staking, which is […]
FTX founder Sam Bankman-Fried’s criminal trial has revealed an extensive list of donations made by FTX associates. Bankman-Fried himself donated over $133 million, with the majority going towards political donations. Notable recipients include Republican senator Mitt Romney and Democratic senator Cory Booker. The largest donations were made to political groups and PACs, which have fewer […]
The US Securities and Exchange Commission (SEC) is showing no signs of slowing down its regulatory scrutiny and enforcement actions against the crypto industry. The SEC’s Division of Examinations has announced its priorities for 2024, indicating a potential tightening of regulations for crypto exchanges, firms, and cryptocurrencies classified as securities. The Division will focus on […]
The Fantom Foundation, a rival of Ethereum, has fallen victim to a major exploit, resulting in the loss of funds. According to blockchain security experts, the foundation’s wallets have been drained of both Ethereum (ETH) and Fantom (FTM) tokens. The CertiK Alert platform confirms that the foundation’s Wallet 20 lost approximately $470,000 worth of FTM, […]
