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The legal team of Mango Markets’ hacker, Avraham Eisenberg, has objected to Mango Labs’ effort to recover the remaining cash. Mango Labs is the team behind the Solana -based trading firm. Solana ( SOL ) has often faced criticism for the number of hacks that have taken place on the network. Mango Markets is one such project which was attacked in October of 2021. Eisenberg used the trading platform to carry out a series of transactions. The transactions increased the value of tokens in a different account. The amount established in the second account was used as collateral for a loan of almost $110 million in various cryptocurrencies. Eisenberg referred to the action as a “highly profitable trading strategy.” However, it also had the unintended consequence of crippling the Mango Markets platform and rendering it bankrupt. Eisenberg was detained by the Justice Department in December and accused of offenses including market manipulation...

Stablecoins , including Tether , were under scrutiny following the demise of Terra UST in 2022. The issue of reliability, sturdiness, and trust began to rise as the question began popping up regarding how sturdy these Stablecoins are. However, Tether has fully stood by its statement that USDT is overcollateralized. The recent scrutiny by the SEC on Paxos has affected BUSD . Paxos was asked to stop the issuance of BUSD , following which BNB slumped and BUSD lost its peg. BUSD is trading at $0.9998 at press time, as its market cap dropped by 5.62% and trading volume slumped by 13.28% in the last 24 hours. Read more: Interactive Brokers Launch Bitcoin and Ethereum Trading in Hong Kong However, the hurricane that hit BUSD seems to have benefited USDT. This is evident from the recent spike in the market cap of USDT. Source: The Daily Hodl Tether USDT’s market cap rise to $69.5 billion The improving trust in USDT and the recent BUSD event have spiked the market cap of ...

Before Paxos published a press release at 6 a.m. Eastern time Monday, the stablecoin BUSD had approximately 16.16 billion tokens in circulation. In the past eight hours, nearly $290 million has been redeemed, bringing the number of BUSD in circulation to 15.87 billion. Stablecoin BUSD Sees Increased Redemption Activity During Regulatory Scrutiny The stablecoin BUSD is experiencing increased activity on Monday as the third largest stablecoin by market capitalization has seen 286,720,127 BUSD redeemed in approximately eight hours. The increased activity began the previous day, when reports claimed the U.S. Securities and Exchange Commission (SEC) had sent Paxos a Wells Notice regarding potential charges. Earlier reports also claimed the New York Department of Financial Services (NYDFS) was investigating Paxos. The following day, Paxos published a press release stating that it was cooperating with the New York Department of Financial Services (NYDFS) and would cease minting BUSD. The c...

RAI Finance is proud to announce the launch of its latest feature — Predict. Predict is a new GameFi product of RAI Finance that allows users to make predictions about certain events and play Risk to Earn games. This new feature will offer a variety of markets including politics, sports, even some trending issues on Twitter. Users can Predict the outcome of the event and be rewarded if they are correct. All the transactions are recorded on the blockchain so transparency and fairness are guaranteed. Risk to Earn Model Predict is based on the concept of Risk to Earn (“R2E”). R2E is a model that leverages the principles of zero-sum games. It is similar to financial markets and trading, where one person’s loss is another person’s gain. Both players must risk a sum and upon losing, the winnings go to the victor. For Predict, players make their prediction and risk tokens based on the result of each game, winning more if they are right and losing if they are wrong. The protocol charges a sma...

1. The total capacity of crypto mining facilities in Russia has been increasing in the past year, despite the market downturn and sanctions. Depressed prices of mining equipment and stronger interest from domestic customers have been identified as major factors for the trend. The capacity of Russian mining farms has exceeded 500 MW at the end 2022（Bitcoin.com） Read more 2. As of month end, Core Scientific operated approximately 206,000 ASIC servers for both colocation and self-mining, representing a total of 21.1 EH/s at its data center facilities. The Company powered down its data center operations on several occasions. Curtailments in January totaled 10,061 MW/h. Read more 3. Cryptominer Pierre Rochard, vice president of research at cryptominer Riot Platforms, tweeted that Ordinal’s Inscriptions are consuming 50% of Bitcoin block space, with block space utilization at 100% and median rates dropping. According to OKLink, the average daily bitcoin block size was about 2MB yesterday, a ...

Bitcoin enjoyed a positive month in January as the coin surpassed $24,000 from a low of $16,000. However, BTC dropped back to $21,657 alongside other coins amidst the whole SEC staking drama and more. Source: Tradingview The charts reveal that BTC rebounded close to $22,000 before dropping back to its current price. The data also reveals that BTC/USD displayed minute spikes on Feb 12. The price drop over the last few weeks triggered the brief uptick. Read more: Baby Doge Coin Burn Portal to Go Live on Monday, Enters 78th Rank The bearish market was likely affected by the scrutiny of Kraken and cryptocurrency staking, which triggered single-digit losses in the market. BTC is trading at $21,915 at press time, with a 22% drop in trading volume over the last 24 hours. Source: CNBC Bitcoin and the cryptocurrency market to react next week’s CPI data? The cryptocurrency market has a previous history of reactions to the Consumer Price Index (CPI) data release. The n...

Banxa partners with Metamask to simplify crypto purchasing for MetaMask users in Canada, Netherlands, Australia, South Africa, and Turkey and reduce fees globally. Banxa” or “The Company”, the leading on-and-off ramp solution for Web3, today announced an integration with ConsenSys’ leading self-custody Web3 wallet, MetaMask , to simplify on-and-off ramping fiat to crypto. Partnership Importance On top of global users being able to purchase crypto via standard methods such as credit cards and Apple Pay, this partners hip will now allow MetaMask users in Canada to purchase crypto through the interbank network Interac with less friction. In addition, MetaMask users in the Netherlands, Australia, South Africa, and Turkey gain new access to Banxa’s crypto on-ramps through local banking infrastructure. Collaboration Explanation Recent disruptions in the crypto market have increased demand for self-custody wallet solutions, which allow users to maintain complete control of their digital asset...

A Russian national accused of processing cryptocurrency payments from ransomware attacks has pleaded guilty to money laundering in the United States. The man who was extradited from the Netherlands in mid-August, last year, will be sentenced in April. Russian Crypto Launderer Pleads Guilty in US Court, May Get Up to 20 Years in Prison An alleged money launderer from Russia has pleaded guilty to one count of conspiracy to commit money laundering in the United States. Denis Dubnikov, now 30, was arrested on Nov. 2, 2021 in Amsterdam, handed over by Dutch authorities on Aug. 16, 2022, and first appeared in federal court the next day. The Russian and his accomplices have been laundering proceeds of Ryuk ransomware attacks on individuals and organizations in the U.S. and other countries between at least August 2018 and August 2021, according to court documents, quoted by the U.S. Attorney’s Office, District of Oregon. They made various financial transactions to conceal the source and own...

One of the largest cryptocurrency ATM operators, Coin Cloud, which claims to operate more than 5,000 crypto ATMs, has filed for bankruptcy in the U.S. The company’s largest creditor is Genesis Global Trading, whose parent company also recently filed for bankruptcy in the U.S. Coin Cloud Files for Bankruptcy Cash Cloud Inc., a digital asset ATM operator doing business as Coin Cloud, voluntarily filed for Chapter 11 bankruptcy on Tuesday. In its filing with the U.S. bankruptcy court for the District of Nevada, Coin Cloud declared an estimated number of creditors of between 5,000 and 10,000. In addition, the company estimated that its total assets range between $50 million and $100 million while its total liabilities fall between $100 million and $500 million. Crypto lender Genesis Global Trading Inc. is listed as Coin Cloud’s largest unsecured creditor, with a total claim of $116,353,435. After deducting the value of collateral, Genesis Global Trading’s unsecured cla...

With just a few days left before the old naira banknotes are demonetized on Feb. 10 as scheduled, a court in Nigeria has blocked the country’s president, Muhammadu Buhari, and the central bank governor, Godwin Emefiele, from further extending the deadline. Opponents of the central bank’s old naira demonetization plan have asked Buhari and Emefiele to extend the deadline again. CBN Asked to Extend Demonetization Deadline Again A Nigerian High Court recently issued a restraining order that stops the country’s president Muhammadu Buhari and the Central Bank of Nigeria (CBN) governor Godwin Emefiele from further extending the old naira demonetization deadline, a report has said. In the order, the court’s Eneojo Eneche reportedly said the duo, along with 27 commercial banks, must not extend or interfere “with the currency redesign terminal date of February 10 or issue any directive contrary to the February 10 date.” According to a report, the restraining order was ...

The Fight Out presale has now raised more than $4 million as it continues to race through its allocation ahead of a major 2023. The project is set to revolutionize the fitness world and move to earn, with its new fitness app rewarding users who complete workouts at home or in a gym. FGHT tokens are on sale for $0.02060 at the time of writing but increase in price every 12 hours. By the end of the presale - March 31, 2023 - FGHT tokens will cost $0.0333, an increase of 62% from the current price. Presale investors can also earn 50% extra in bonus tokens during the presale, depending on the size of their purchase and the length of time they choose to vest tokens. Buy FGHT Tokens Now Get Rewards for Working Out Fight Out will allow gym goers of all levels to earn rewards and perks simply for completing exercises. Unlike previous move-to-earn projects, which have largely focused on steps, Fight Out will use smart technology to reward full-body workouts. The fitness app ...

Registered crypto brokers and advisors may need to be on edge when giving advice this year, after a recent warning from the SEC. Crypto brokers and investment advisors offering or giving advice about cryptocurrencies will be put under the scope of the United States' securities watchdog this year. A Feb. 7 statement from the Securities and Exchange Commission’s (SEC) Division of Examinations outlined its priorities for 2023, suggesting brokers and advisers dealing in crypto will need to be extra careful when offer ing, selling or making recommendations regarding digital assets. It stated that SEC-registered brokers and advisors will be closely watched to see if they followed their “respective standards of care” when making recommendations, referrals and providing investment advice. Today we announced the Division of Examinations 2023 priorities. The Division publishes its examination priorities annually to provide insights into its risk-based approach. For more: — U.S. Securities...

South Korea’s Financial Services Commission (FSC) has reportedly said that Korean investors will soon be able to easily invest and trade security tokens or fractionalized assets. According to the FSC’s Lee Su-young, security token investors are expected to get the same protection that is provided to investors in conventional securities. Protecting Korean Security Token Investors The South Korean financial markets regulator, the Financial Services Commission (FSC), has okayed the issuance and distribution of security tokens, a report has said. According to the report, Korean investors are expected to begin trading security tokens once the regulator has concluded revising the relevant laws. As per a report in The Korea Times, regulators are hoping that the changes will not only enable investors to make fractional investments, but will also ensure security token holders get the same protection that is accorded to conventional securities investors. “We have decided to ...

Unification, the firm working behind the Shibarium Layer-2 solution, provided the latest updates on the network’s progress. In a new blog released by Unification on Friday, developer Codegnosis confirmed that the Shibarium Beta deployment is in full swing. The blog post confirmed that Shiba Inu’s L2 network, Shibarium Beta TestNet, is “rapidly moving ever closer”. However, the blog cautioned that the team is not in a rush to push things without a thorough check. “Given the scope, it’s foolish to rush, but work is progressing well. And although the public beta network is yet to be deployed, that day is rapidly moving ever closer,” the blog read. Also Read: Shiba Inu: 2 Investors Make $9 Million With $7,900 Investment Shiba Inu: The Shibarium Technical Developments Source: Twitter The new Unification blog shed light that the team is working on optimizing the ‘go-ooo’ application. The team is currently “testi...

Bitcoin looks like it is treading on thin ice as February fails to match the gains of last month. Bitcoin (BTC) starts the second week of February in a newly bearish mood as multi-month highs fail to hold. In what may yet bring vindication to those predicting a major BTC price comedown, BTC/USD is back under $23,000 and making lower lows on hourly timeframes. Feb. 6 trading may not yet be underway in Europe or the United States, but Asian Markets are already falling and the U.S. dollar gaining — potential further hurdles for Bitcoin bulls to overcome. With some macroeconomic data to come from the Federal Reserve this week, attention is mostly focused on next week’s inflation check in the form of the Consumer Price Index (CPI) for January. In the build-up to this event, the results of which are already hotly contested, volatility may gain a fresh foothold across risk assets. Add to that those aforementioned concerns that Bitcoin is long overdue a more significant retracement than thos...

DripVerse Protocol partners with Unstoppable Domains to bring the amazing domain login to DripVerse platform and all products powered by DripVerse Protocol. This will enhance the user experience for creators by allowing them to use Unstoppable Domains login, and also provide builders with a new way to connect named domains to wallet addresses. About Unstoppable Domains Founded in 2018, Unstoppable Domains is building a digital identity platform for Web3. Unstoppable Domains offers Web3 domains minted on the blockchain that give people full ownership and control of their digital identity, with no renewal fees. With Unstoppable Domains, people can replace lengthy alphanumeric crypto wallet addresses with a human-readable name and log into and transact with hundreds of apps, wallets, exchanges and marketplaces. The company was named by Forbes as one of America’s Best Startup Employers in 2022. About DripVerse Protocol DripVerse Protocol is on a mission to improve web3 dev tooling ...

Join Our Telegram channel to stay up to date on breaking news coverage The Bitcoin price prediction shows that BTC may begin to drop below the moving averages as the coin faces the south. Bitcoin Prediction Statistics Data: Bitcoin price now – $23,332 Bitcoin market cap – $455.8 billion Bitcoin circulating supply – 19.2 million Bitcoin total supply – 19.2 million Bitcoin Coinmarketcap ranking – #1 BTC/USD Long-term Trend: Bearish (Daily Chart) Key levels: Resistance Levels: $28,000, $30,000 $32,000 Support Levels: $20,000, $18,000, $16,000 BTC/USD may face a setback that could drag the coin below the lower boundary of the channel, and the king coin is likely to have an additional bearish run if the sellers increase the pressure. At the moment, Bitcoin (BTC) is trading around the $23,332 level. Bitcoin Price Prediction: BTC Could Fall into the Negative Zone The Bitcoin price is likely to cross below the 9-day moving average before headi...