During the last week, the crypto community has been dealing with the demise of FTX and its affiliated crypto businesses, and ever since then, the proof-of-reserves topic has found its way to the forefront of conversations. Another silver lining to the fiasco is the fact that cryptocurrency enthusiasts have removed large quantities of bitcoin and

Amid the market fluctuations on Thursday, data shows the stablecoin tether temporarily tapped a low of $0.961 per unit. Tether’s market fluctuations have affected the decentralized finance (defi) protocol Curve’s 3pool, as the stablecoin pool has become unbalanced Thursday morning. Furthermore, at 9:35 a.m., a report disclosed that Tether has frozen more than 46 million …

After all the speculation surrounding the crypto exchanges Binance and FTX, Binance CEO Changpeng Zhao (CZ) revealed that his company is set to acquire FTX. CZ detailed that FTX asked for help and noted there is a “significant liquidity crunch.” FTX CEO Sam Bankman-Fried has confirmed the acquisition will take place. Binance Set to Acquire …

The man who stole over 50,000 bitcoins from the Silk Road marketplace has pleaded guilty. According to the U.S. Department of Justice, “the seizure was then the largest cryptocurrency seizure” in the history of the DOJ and “remains the department’s second-largest financial seizure ever.” Silk Road Exploiter Pleads Guilty The U.S. Department of Justice (DOJ) …

While the stablecoin economy has seen fluctuations from specific stablecoin tokens either increasing the project’s number of tokens in circulation or decreasing the supply, the stablecoin GUSD issued by Gemini has increased by 129.5% during the last 30 days. GUSD Sees Supply Balloon by Nearly 130% There’s been a number of changes within the stablecoin …

PRESS RELEASE. It’s no secret to anyone that the past several months have been some of the worst performing markets in virtually every sector, thanks to the macroeconomic effects of high inflation around the world, alongside global uncertainty. The EverEarn team however has spent this time planning their next steps and getting ready for expansion; …

Last year, Bitcoin’s total network hashrate was around 160 exahash per second (EH/s), and 15 known mining pools dedicated hashrate to Bitcoin on Nov. 6, 2021. At that time, the mining pool Foundry USA was the fifth largest mining pool with 18.44 EH/s dedicated to the Bitcoin chain. During the last 12 months, Foundry has …

Elon Musk has started rolling out a $7.99-a-month Twitter Blue subscription service. U.S. President Joe Biden, however, is concerned that the billionaire has bought a social media platform “that spews lies all across the world.” Stating that there are “no editors anymore in America,” Biden stressed: “How do we expect kids to be able to …

Binance is dumping all of its FTX token (FTT) holdings “Due to recent revelations that have come to light,” CEO Changpeng Zhao has confirmed. “Regarding any speculation as to whether this is a move against a competitor, it is not,” he added. “Our industry is in its nascency and every time a project publicly fails …

On Nov. 2, 2022, the digital asset custody business and financial services provider Bitgo introduced a wrapped version of the meme coin asset dogecoin built on top of the Ethereum blockchain. The company detailed the wrapped dogecoin initiative, the Wdoge DAO, is through a partnership between the Dogecoin Foundation, Bluepepper, and Mydoge wallet. Bitgo Introduces …

Members of the expanding blockchain sector of Vietnam have called on government and educational institutions to turn more attention to the deficit of talent. With the shortage of qualified personnel being a global challenge, they say the country needs to address the lack of training. Industry Players Highlight Growing Need for Blockchain Experts in Vietnam …

Cryptocurrency exchange Bybit has no intention to introduce restrictions for Russian traders, despite a recent reminder by the Monetary Authority of Singapore (MAS) about the obligations of crypto providers in that respect. According to a crypto media report, the platform shared its position in correspondence with partners. Bybit Reportedly Vows to ‘Not Discriminate Against Crypto …

The U.S. Securities and Exchange Commission (SEC) has charged four people for their roles in a global cryptocurrency Ponzi scheme that duped more than 100,000 investors worldwide. The scheme raised more than $295 million in bitcoin. SEC Says ‘Trade Coin Club’ Is a Crypto Ponzi Scheme The U.S. Securities and Exchange Commission (SEC) announced charges …

Support for Ripple Labs in its fight against the U.S. Securities and Exchange Commission (SEC) over xrp has grown, with 12 amicus briefs filed. “It’s unprecedented,” Ripple CEO Brad Garlinghouse said, adding that each brief explains in its own unique way “the irreparable harm the SEC will do to every facet of the U.S. crypto …

Tesla CEO and Twitter chief Elon Musk has begun massive layoffs at the social media company. The billionaire explained that there is no choice since Twitter is losing over $4 million a day. “Twitter has had a massive drop in revenue, due to activist groups pressuring advertisers, even though nothing has changed with content moderation …

Global investment bank Goldman Sachs has launched a new data service in collaboration with MSCI and Coin Metrics to help investors analyze crypto markets. The new system is “designed to provide a consistent, standardized way to help market participants view and analyze the digital assets ecosystem,” Goldman detailed. Goldman Sachs’ New Crypto Classification System Global …

Payments giant Mastercard has added seven startups to its Start Path program to make cryptocurrencies more accessible. “We’re welcoming a new cohort of startups to ease access to digital assets, build communities for creators and empower people to innovate for the future through Web3 technologies,” said Mastercard. Mastercard: ‘Anyone Who Uses Crypto Should Be Able …

Nigeria’s National Information Technology Development Agency recently said it has launched a blockchain training program and over 30,000 people are set to participate. The objective of the training course is to make the participants “early solution providers in the fourth industrial revolution.” Hastening Adoption of Blockchain The Nigerian government has said it plans to educate …

Foundry Digital, a digital asset mining and a staking-focused subsidiary of Digital Asset Group, has announced the launch of a new bitcoin mining hardware training program. The training course, which is expected to commence on Nov. 7, is expected to help professionals and enthusiasts learn how to set up a miner as well as to …

The Nigerian currency appeared to accelerate its decline versus the U.S. dollar after it slipped to a new low of 900 naira for every dollar. The currency has continued to depreciate even after the Economic and Financial Crimes Commission’s raid on suspected illegal foreign exchange dealers. Continuing U.S. Dollar Shortages Following the Oct. 27 announcement …

Software giant Microsoft has made a $14.8 million investment in Wemade, a Korea-based blockchain gaming services company that has recently launched its own stablecoin, named Wemix. The company was part of a $46 million investment round, that also saw the participation of two more companies: Shinhan Asset Management and Kiwoom Securities. Microsoft Backs Korea-Based Gaming …

The Bank of Ghana recently warned businesses quoting U.S. dollar prices that the practice is still prohibited and that the cedi remains Ghana’s sole legal tender. The bank said it is working with law enforcement to “clamp down on illegal foreign exchange operations.” In addition to naming and shaming businesses violating the law, a Ghanaian …