Tether Mints 4B USDT in 4 Weeks – Whale Alert
According to data from Whale Alert, stablecoin issuer Tether has issued 4 billion USDT tokens in the past month, increasing the quantity of USDT tokens minted and accounting for nearly 18% of all USDT issued in 2023. According to blockchain data provider Whale Alert, on November 10, Tether distributed an additional 1 billion Tether on […]
Bitcoin Mining Reward Hits Annual All-time High of $44M
On November 12, the Bitcoin mining community achieved its annual all-time high (ATH) by amassing transaction fees and block rewards exceeding $44 million in a day. Bitcoin mining generates most of its revenue from rewards for authenticating Bitcoin transactions and generating new blocks utilizing mining rigs, which are sophisticated computing devices. In addition to transaction fees, […]
Lloyds Bank Reports Cryptocurrency Scams Soars 23% in UK
Lloyds Bank, one of the Big Four institutions in the United Kingdom, has reported that victim reports of cryptocurrency investment scams have increased by 23% between the same period in 2022, with young investors as prime targets. As per a press release issued by Lloyds Bank, a growing proportion of investors are confronted with the […]
Genesis Petitions Court to Reduce 3AC Claim from $1B to $33M
Genesis, a bankrupt crypto lender, has petitioned the court to approve its proposed settlement agreement, which intends to reduce Three Arrows Capital’s (3AC) claim from $1B to $33M. Genesis petitioned the court on November 9 to grant the 3AC debtor a permitted general unsecured claim of $33 million against Genesis. This sum represents 3.3% of […]
Poloniex Crypto Exchange Faces $100M Exploit
According to blockchain security firms, crypto exchange Poloniex suffered a $100 million exploit in digital assets due to a security breach. A Poloniex 4 account on Etherscan transferred millions of crypto assets on November 10. Initial loss estimates amounted to approximately $60 million. Later investigation revealed, nevertheless, that the assailants had stolen more than $100 […]