The recent $234 million hack on WazirX has led to the crypto platform entering into an initial 30-day moratorium, awaiting a decision by Singapore’s High Court on a possible extension. This move comes as rival platform CoinSwitch has announced its intent to take legal action to recover approximately $9.6 million in digital assets trapped on
Cardano and its native token, ADA, faced a significant decline in the second quarter of 2024, mirroring the overall downtrend in the cryptocurrency market. The price of ADA dropped by 39.7% to $0.39, while its market capitalization fell by 39.4% to $14 billion. This decline was attributed to an increase in circulating supply, leading to
The recent funding success of Gameplay Galaxy in the blockchain gaming industry has sparked intrigue and excitement within the community. With an impressive $11.17 million secured in a seed extension round, the company’s total valuation now stands at $71 million, with a total funding of $24 million. Co-led by Blockchain Capital and Merit Circle, this
Maker, a prominent DeFi lending protocol on Ethereum, has undergone a significant rebranding to “Sky” alongside essential upgrades to its decentralized stablecoin system. This transformation includes renaming the stablecoin from DAI to USDS and changing the governance token from MKR to SKY. These changes aim to enhance the accessibility and affordability of the protocol for
In a recent turn of events, the US Securities and Exchange Commission (SEC) has taken action against Abra, a cryptocurrency lending firm, for its failure to register its crypto asset lending product, Abra Earn. This move comes after Abra’s owner, Plutus Lending LLC, was accused of operating as an unregistered investment company. The SEC’s Associate
Sony Blockchain Solutions Labs, in collaboration with Startale labs, has unveiled an ambitious project named Soneium. The primary goal of Soneium is to bridge the gap between Web3 and Web2, making blockchain technology more accessible and user-friendly. The platform aims to address the key issues faced by current blockchain solutions, such as accessibility, scalability, efficiency,
Meta’s recent decision to cancel the development of its next-gen mixed-reality headset has sparked discussion and debate within the tech community. CEO Mark Zuckerberg and other executives made this strategic move after assessing the challenges and limitations faced by the product. The cancellation indicates a shift in focus for Meta, as they navigate the complex
Former FTX executive Ryan Salame’s attempt to void his guilty plea has been met with pushback from the US government. Salame claims that his guilty plea was based on false promises from prosecutors regarding their investigation into his partner, Michelle Bond. However, the US Attorney’s Office has called Salame’s allegations “demonstrably false,” stating that the
In recent years, France has emerged as a favorable destination for prominent cryptocurrency firms such as Binance, Crypto.com, and Circle, which have all established their European headquarters in Paris. The country has garnered attention due to its advantageous tax rates, diverse talent pool, and a culture of innovation in the Web3 sector. Moreover, France has
The recent announcement by Federal Reserve Chairman Jerome Powell regarding potential interest rate cuts has sent shockwaves through the financial markets. With the current benchmark rate for massive overnight money market loans from the central bank hovering between 5.25% and 5.5%, Powell’s endorsement of rate cuts has raised expectations of a new era of lower