Tether’s CEO Confirms $86B Reserve Backing for Stablecoin USDT

CANTOR CEO CONFIRMS TETHER HOLDS $86B IN RESERVE TO BACK ITS STABLECOIN USDTThe CEO of Cantor, Howard Lutnick, has confirmed that Tether, the popular stablecoin, holds a staggering $86 billion in reserve to back its USDT stablecoin. Lutnick made this revelation during an interview with Bloomberg at the World Economic Forum in Davos on January […]

Failed Exploit Attempt at Bitfinex Highlights Importance of Robust Security Measures

Bitfinex Foils Attempted Exploit of XRP Ledger FeatureAn unknown individual recently made an unsuccessful attempt to exploit a feature of the XRP Ledger at Bitfinex, one of the leading cryptocurrency exchanges. The attacker sought to move billions of dollars worth of XRP, but Bitfinex’s effective security measures prevented the attack from succeeding.Concerns Over Significant Transfer […]

Ethereum Jumps 11.4% as Whales Accumulate, Boosting Market Sentiment

Ethereum (ETH) has seen a significant increase of 11.4%, with whales in the crypto ecosystem playing a major role in this change. Data from the crypto analytics platform Lookonchain reveals that a whale with the wallet address “0xAA15” withdrew a total of 5,762 ETH, approximately $15.06 million, from Binance. This whale has purchased a total […]

SEC Approves 11 Bitcoin ETFs, Marking Major Step for Crypto

The long-awaited launch of a spot Bitcoin exchange-traded fund (ETF) in the United States has finally taken place. The Securities and Exchange Commission (SEC) has approved 11 products for listing and trading on several national exchanges, marking a significant step towards legitimizing the crypto asset class. This journey began a decade ago, with many industry […]

Solana Ecosystem Thrives in 2023 with Surge in Developer Retention

Solana’s native SOL token emerged as one of the top-performing crypto assets in 2023, with the Layer 1 network’s developer ecosystem also demonstrating consistent growth. The Solana ecosystem experienced a significant rise in developer retention during this period, increasing from 31% to over 50% within three months. This improvement was attributed to several factors, such […]

Ripple and Stellar Lumens Poised to Compete with Swift in Cross-Border Payments

Ripple and Stellar Lumens are making significant strides in the cross-border payments industry, positioning themselves as strong competitors to Swift. The industry is projected to be worth approximately $250 trillion by 2027, and the roles of Ripple Labs and Stellar Lumens in this ecosystem are becoming increasingly important.Ripple’s future in the ecosystem is promising, with […]

Bitcoin Hashrate Hits Record High Following US Spot ETF Approval

Bitcoin’s hash rate, the measure of the network’s computing power, recently reached a new all-time high. This surge in hash rate coincided with the debut of spot Bitcoin ETFs in the US. Data from IntoTheBlock reveals that the Bitcoin hash rate reached an all-time high of 630.91 million TH/s or 630 EH/s on January 11, […]

FTX Customers Contest Motion to Deny 2023 Crypto Profits

The FTX debtors have filed to repay creditors in the same value as the time of the exchange’s collapse, potentially denying them the significant gains made in 2023. The troubled crypto exchange is nearing the final stages of a restructuring process that promises an imminent relaunch and full repayment to creditors and customers.Distressed FTX customers […]

Ethereum L2 Rollups Surge in 2023, EIP-4844 to Slash Storage Costs

In 2023, the Ethereum layer-2 (L2) landscape underwent significant expansion. The demand for blockspace and scaling solutions skyrocketed, with users eager to leverage their relative benefits. The year marked a significant shift in scaling solutions built on Ethereum’s base layer.On January 1, 2023, the Ethereum mainnet averaged 13.67 transactions per second (TPS), while the combined […]

Ripple and TRON Lose Spots in HKVAC’s Updated Crypto Indices

The Hong Kong Virtual Asset Consortium (HKVAC) has announced significant changes to its crypto indices, reshuffling its top 5 crypto index, top 10 crypto index, and overall crypto index. This has led to the exclusion of several notable cryptocurrencies.In a headline-grabbing adjustment, Ripple’s native token XRP has lost its seat in the top 5 global […]