DeFi Tech Stock Plummets 28% Amid Manipulation Claims

DeFi Tech Stock Plummets 28% Amid Manipulation Claims

In A Nutshell DeFi Technologies Inc., an exchange-traded product (ETP) provider, recently faced a significant stock drop of nearly 28% following a report by the crypto-focused newsletter CoinSnacks. The report accused DeFi Technologies of engaging in “questionable email campaigns” and utilizing crypto influencers to artificially inflate its stock price. DeFi Technologies has vehemently denied these…

Kraken Exchange Hit by $3M Hack Amid Extortion Attempt

Kraken Exchange Hit by $3M Hack Amid Extortion Attempt

In A Nutshell Kraken, a prominent cryptocurrency exchange, has disclosed an incident involving a critical security bug that led to the unauthorized withdrawal of $3 million in digital assets. This event has escalated into a case of alleged extortion by an individual or group posing as a security researcher. Despite the significant amount involved, Kraken…

Stablecoin Sector Sees 16-Fold Growth Surge

Stablecoin Sector Sees 16-Fold Growth Surge

In A Nutshell The landscape of cryptocurrency, particularly the stablecoin sector, has witnessed a remarkable surge in adoption and utility over the past four years. Data from Token Terminal reveals that the monthly transfer volume of stablecoins has exponentially grown, marking a 16-fold increase from $100 billion in October 2020 to a staggering $1.68 trillion…

Bitcoin Hits Yearly Low in Activity and Price Post-Halving

Bitcoin Hits Yearly Low in Activity and Price Post-Halving

In A Nutshell The Bitcoin (BTC) network has witnessed a significant downturn in its average block size and transaction rates, reaching a yearly low in June. This decline is intertwined with a drop in Bitcoin’s price to approximately $64,100. The recent BTC halving event, which slashed block rewards by 50%, is believed to be a…

Bitcoin Dips Below $66K Amid Fed and Miner Turmoil

Bitcoin Dips Below $66K Amid Fed and Miner Turmoil

In A Nutshell The Bitcoin (BTC) ecosystem is currently undergoing a phase of uncertainty, influenced by a combination of factors including recent decisions by the Federal Reserve and actions by Bitcoin miners. As BTC’s value dips below the $66,000 mark, concerns arise over the impact of selling pressure from miners, who have been offloading their…

DeFi Revolutionizes Real Estate with Tokenization

DeFi Revolutionizes Real Estate with Tokenization

In A Nutshell The realm of Decentralized Finance (DeFi) is set for a significant transformation with institutional players preparing to onboard commercial real estate through tokenization, as per insights shared by Kunal Bhasin, digital asset co-lead at KPMG Canada. Speaking at the Toronto Collision Conference, Bhasin outlined the potential shift in ownership dynamics of major…

Bitcoin Nears ‘Banana Zone’ Amid Market Hurdles

Bitcoin Nears ‘Banana Zone’ Amid Market Hurdles

In A Nutshell Bitcoin is teetering on the edge of entering a phase dubbed the “Banana Zone,” a term coined by GMI founder Raoul Pal, indicating a potential euphoric price surge. However, this venture into optimism demands a reversal in three pivotal indicators as identified by analysts. The current landscape sees Bitcoin miners increasing their…

Uphold Drops 6 Stablecoins for EU Compliance

Uphold Drops 6 Stablecoins for EU Compliance

In A Nutshell Uphold, a prominent cryptocurrency exchange, has announced it will remove six major stablecoins from its platform by July 1st to comply with the Markets in Crypto-Assets Regulation (MiCA) enacted by the European Union. The affected stablecoins include Tether (USDT), Dai (DAI), Frax (FRAX), Gemini dollar (GUSD), Pax dollar (USDP), and TrueUSD (TUSD)….

Tether Launches Gold-Backed Crypto on Ethereum

Tether Launches Gold-Backed Crypto on Ethereum

In A Nutshell Tether, a dominant force in the stablecoin market, introduces a groundbreaking token minting platform named Alloy on the Ethereum network, allowing the creation of synthetic digital assets collateralized by tokenized gold (XAUT). This initiative represents a significant stride in Tether’s broader ambition to facilitate the tokenization of a wide array of assets….