ETH 6X Surge Months After Ethereum Foundation Sale
On August 23, 2024, the Ethereum Foundation transferred 35,000 ETH (~$96 million) to Kraken, fueling market speculation. According to Arkham Intelligence, a blockchain tracing organization, the price of Ethereum increased by more than 500% in the months following a massive ETH sale by the Ethereum Foundation. However, it is impossible to predict what will happen […]
WazirX Blames External Forces for Restructuring Delays
WazirX plans to resume Indian rupee withdrawals on August 26 and cut withdrawal fees by 60%. WazirX, an Indian cryptocurrency exchange, has voiced its disapproval of external forces that it asserts are intentionally impeding its efforts to retrieve its holdings. The exchange introduced the criticism immediately after a thorough restructuring plan, intended to restore financial […]
FTX Restructuring Faces Legal Hurdles
Sunil Kavuri, representing FTX’s largest creditor group, echoed these concerns and suggested in-kind repayments to avoid high cash taxes. The United States Trustee and a group of creditors are placing legal obstacles in the way of the restructuring plan of FTX, the cryptocurrency exchange that has gone bankrupt. This raises questions about the feasibility of […]
Tether Redistributed $108.8M USDT from Illicit Activity
Tether has voluntarily blocked over 1,900 bitcoin wallets associated with illegal activities. According to a recent announcement, since its launch in 2014, the stablecoin issuer Tether has helped more than 145 law enforcement agencies recover more than $108.8 million USDT linked to illicit acts. Tether remains resolute in its mission to support global law enforcement […]
Cardano Founder Supports RFK Jr.Trump Alliance
Cardano Founder Charles Hoskinson noted RFK Jr.’s strategic decision to endorse Trump in key states while staying on the ballot elsewhere. Charles Hoskinson, the founder of Cardano, has expressed his support for an alliance between Donald Trump and Robert F. Kennedy Jr. in the forthcoming U.S. presidential election. Hoskinson expressed his appreciation for RFK Jr.’s […]