Analysts Urge Investors to Deal Cautiously With AssangeDAO’s
Analysts at SlowMist have urged investors to deal cautiously with AssangeDAO following recent fund transfers and inquiries about fund destinations. When a 100 Ether transaction from AssangeDAO’s address went to a recipient who appeared to be connected to the decentralized autonomous organization on March 10, analysts at SlowMist became concerned about a potential “soft rug […]
Binance Issues Statement Ahead of Execs’ Court Trial in Nigeria
Binance executives face legal battles in Nigeria over money laundering and tax charges, prompting a defense statement from the exchange. Binance, a prominent entity in the domain of cryptocurrency exchanges, is currently entangled in legal commotion due to pending judicial proceedings in Nigeria against its executives. Due to impending legal proceedings concerning allegations of money […]
ETH Q1 2024 Earnings Soar by More than 155% in Previous Year
Ethereum blockchain Network saw significant growth in the first quarter (Q1) of 2024, 155% more than in the first quarter of 2023. Coin98 Analytics research indicates that Ethereum’s earnings in Q1 2024 tripled on a quarter-over-quarter basis to $369 million. The sum represented a 210% year-over-year growth from $119 million in Q1 2023. Ethereum’s Q1 […]
Bithumb Exchange Reports 57% Annual Loss For 2023
South Korean cryptocurrency exchange Bithumb, reported a 57% decrease in Annual revenue days after announcing a delayed IPO. An April 2 article from Korean news outlet Newdaily stated that the Seoul-based exchange’s annual sales revenue decreased by 57.6% to 1.358 billion Korean won in 2023 from 3.201 billion won in 2022. Although net profit decreased […]
Bitfarms Plans to Upgrade Mining Hardware With $240M
Bitcoin miner Bitfarms plans to upgrade its mining hardware with an expenditure of around $240 million to increase its hash rate after the 2024 Bitcoin halving. Performance and profitability are the main priorities of Bitfarms’ preparation efforts for the Bitcoin halving. In an interview, Jeffrey Lucas, the chief financial officer of Bitfarms, outlined the company’s […]