Author: Matthew Brown

Trading competitions are typically driven by performance metrics such as trading volume, returns, or trade frequency. BitDelta’s Winter WonderTrade Festival introduces an additional reward mechanism that goes beyond leaderboard rankings, broadening the appeal of the competition. Alongside volume-based rewards, the campaign includes a $50,000 Lucky Draw scheduled for January 1, 2026, where 50 qualified participants will each receive $1,000, regardless of final leaderboard position. This structure transforms the festival from a purely elite contest into a two-tier model that appeals to both high-volume traders and more casual participants, a distinction that becomes especially relevant as the festival enters its final…

Analysts are warning that the cryptocurrency market may face heightened volatility in the coming weeks, as a series of macroeconomic developments stoke a risk-off sentiment among investors. The crypto market shed more than $500 billion in just 24 hours, and experts are forecasting even wilder swings in the future as global tensions continue to weigh heavily on investor confidence. A $500 Billion Loss in 24 Hours According to The Kobeissi Letter, the total market capitalization of cryptocurrencies plummeted by over $500 billion within a single day. This loss follows U.S. President Donald Trump’s recent announcement about creating a strategic U.S.…

Japan-based Metaplanet has made a significant move to further solidify its position as one of the country’s most active corporate Bitcoin investors. On February 25, the company announced the purchase of 135 Bitcoin (BTC) for a total of 1.939 billion yen ($12.8 million). This addition brings Metaplanet’s total Bitcoin reserves to 2,235 BTC, with an average price of 12.44 million yen ($82,000) per Bitcoin. Following in the footsteps of companies like MicroStrategy, which boasts the largest corporate Bitcoin treasury, Metaplanet has steadily increased its holdings since launching its Bitcoin Treasury Operations. This strategy aims to leverage Bitcoin as a significant…

Jim MacCallum, the interim CEO of Argo Blockchain, has bought more than 75,000 shares of the company in an insider transaction, according to a regulatory filing. The shares, which were acquired between January 29 and 30, were purchased in the form of American Depositary Receipts (ADRs)—U.S.-listed securities representing Argo’s stock, which is primarily traded in the UK. MacCallum acquired the shares at Nasdaq prices ranging from $0.4550 to $0.4700 each, with the total value of the transaction amounting to approximately $34,625. The average price per ADR was $0.4617. As required by regulations for executives in managerial roles, the purchase was…

The Securities and Exchange Commission (SEC) has officially repealed a controversial rule that required financial firms holding cryptocurrency for customers to report those assets as liabilities on their balance sheets. In a bulletin released on January 23, the SEC announced the revocation of Staff Accounting Bulletin (SAB) 122, which rescinds SAB 121—a policy introduced in March 2022 that faced heavy criticism from the crypto industry. SAB 121 had sparked significant backlash due to its complex reporting requirements. Critics argued that the rule added unnecessary complexity to the custody of digital assets, burdening firms with additional regulatory hurdles. The repeal of…

Just a day after Donald Trump was sworn in as the 47th President of the United States, investors in the Trump-backed meme coins, TRUMP and MELANIA, experienced substantial losses as the tokens suffered sharp declines. Trump Coin Skyrockets—Then Crashes Just two days before his inauguration, on January 18, Donald Trump launched his meme coin, Official TRUMP Official Trump (TRUMP), on the Solana (SOL) blockchain. The token’s launch was followed by a meteoric rise, with Trump spiking more than 840% from its all-time low of $6.24 to a peak of over $75 on January 19. This surge saw the coin’s market…

Arkansas lawmakers have introduced a bill to prohibit cryptocurrency mining operations within a 30-mile radius of military installations in the state. Senate Bill (SB 60), presented on January 15 by Senator Ricky Hill and House Speaker Brian Evans, seeks to amend the Arkansas Data Centers Act of 2023 to safeguard military facilities from potential risks associated with crypto mining. Key Provisions of the Bill The proposed legislation covers a range of military sites, including bases, camps, hospitals, clinics, and arsenals, aiming to restrict crypto mining activity in their proximity. However, the bill includes a grandfathering clause allowing facilities fully constructed…

The non-fungible token (NFT) market endured a challenging 2024, with trading volumes and sales hitting their lowest levels since 2020. According to DappRadar’s 2024 Dapp Industry Report, published on January 14, the market saw sharp declines in activity, signaling a year of volatility and adjustment for the once-booming sector. A Tough Year for NFTs DappRadar’s data revealed that NFT trading volumes fell 19%, dropping from 2023’s figures to $13.7 billion, while sales counts declined 18% to just under 50 million transactions. The report described 2024 as “one of the worst-performing years since 2020.” NFT trading showed early promise in Q1, with volumes rising 4% year-on-year to $5.3 billion, but…

A California resident has filed a lawsuit against three Asia-based banks, accusing them of negligence for failing to prevent a cryptocurrency scam that resulted in a loss of nearly $1 million. The lawsuit, filed in a California district court on December 31, 2024, claims that the banks did not conduct the necessary due diligence to detect and prevent fraudulent activity, allowing scammers to deceive the plaintiff over several months. The plaintiff, Ken Liem, alleges he was targeted by a “pig butchering” scam, a type of online fraud where victims are lured with promises of high returns on cryptocurrency investments. According…

Securitize, the brokerage firm behind the tokenized BlackRock US Dollar Institutional Digital Liquidity Fund (BUIDL), has submitted a proposal to use BUIDL as collateral for the Frax USD stablecoin. This proposal, submitted as part of a Frax Improvement Proposal (FIP), highlights the benefits of using BUIDL, which is backed by U.S. government securities, as a reserve asset for the stablecoin. Key Benefits of the Proposal The proposal outlines several advantages of using BUIDL as collateral, including: This proposal, however, is not yet finalized. The inclusion of BUIDL as collateral for Frax USD is subject to a community vote, ensuring that…

On December 15, 2024, Canadian rapper Drake’s X (formerly Twitter) account was compromised in a hack that saw malicious actors promoting a newly minted meme coin called Anita. The hack resulted in an explosive surge in trading volume for the token, which skyrocketed to $4.9 million as fans of the rapper, who has 39 million followers on the platform, rushed to invest in what they believed to be tied to his upcoming tour. The hackers capitalized on Drake’s massive following by spreading a message that the Anita token was created in partnership with the rapper and his long-time sponsor, the…

Australia’s blockchain industry experienced a significant contraction in 2024, with the number of active blockchain firms falling by 14% compared to the previous year. According to KPMG’s “Australian Fintech Landscape 2024” report, the sector now includes just 74 firms, down from 85 in 2023. Despite this decline, key players such as Independent Reserve, SwyftX, and CoinSpot continue to anchor Australia’s blockchain and crypto ecosystem. Analysts suggest that changes in ETF regulations and a drop in global interest rates may help reignite growth in the sector. The blockchain downturn is not confined to Australia. Globally, the technology is losing ground to…

Pepe, the meme-inspired cryptocurrency tied to the iconic “Pepe the Frog” meme, is witnessing a significant shift in its holder composition and whale activity, according to recent data from IntoTheBlock. On December 3, large holders of Pepe (PEPE) saw a sharp reversal in net flow, moving from a net outflow of 534 billion PEPE to a net inflow of 580 billion PEPE. This surge in whale accumulation signals a potential shift in market sentiment, possibly sparking a wave of FOMO (fear of missing out) among retail investors. One of the most notable moves comes from an anonymous Pepe whale, which…

A Republican administration could expedite the passage of market structure legislation currently hindered by partisan debates surrounding the Financial Innovation and Technology for the 21st Century Act (FIT21), according to Katherine Dowling, chief compliance officer at Bitwise Asset Management. In a recent Q&A session, Dowling discussed the potential ramifications of the upcoming presidential election on crypto regulation, emphasizing the importance of FIT21. This proposed legislation aims to clarify regulatory oversight for digital assets, addressing the existing ambiguity in crypto regulations. FIT21 seeks to define the roles of the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC)…

Ethereum co-founder Vitalik Buterin has donated $884,000 to various charities over the past ten days, following an influx of memecoins sent to his wallet. Recently, he converted an additional $1.6 million in memecoins into Ether, currently valued at $2,532.87, which he pledged for charitable contributions. According to blockchain analytics firm Spot On Chain, the recent sale included $982,800 worth of Moo Deng (MOODENG), $231,000 of Monsterra (MSTR), and $183,000 of ETHEREUM IS GOOD (EBULL). Buterin also liquidated holdings in Popcat (POPCAT), Fwog (FWOG), and vitalek buteren (VITALIK). To date, Buterin has converted a total of $2.78 million in memecoins into…

New York’s financial regulator is on the lookout for a senior blockchain analytics analyst to help address financial crimes, particularly money laundering, within the cryptocurrency sector. The position can be based in either New York City or Albany, with a starting salary of $84,156. Successful candidates can expect potential salary increases reaching up to $106,454. For those based in the New York City metro area—including Suffolk, Nassau, Rockland, and Westchester counties—a $3,400 annual downstate adjustment will also be provided. Role Focused on Assessing Illicit Activity and AML Compliance Applicants must have a minimum of one year of experience in the…

Japanese investment firm Metaplanet has expanded its Bitcoin holdings by acquiring 23.97 BTC through an options transaction with Singapore-based digital asset trading firm QCP Capital. This acquisition brings Metaplanet’s total Bitcoin reserves to 530.72 BTC. In a notice released on October 3, Metaplanet detailed its recent deal involving the sale of 223 put options contracts, valued at $62,000, which are set to expire on December 27, 2024. The sale generated a profit of 23.97 BTC from the options premium, recognized as revenue. “This transaction allows the company to leverage Bitcoin’s volatility to generate premium income while maintaining a fully cash-secured…

The International Monetary Fund (IMF) has pointed out that Central Bank Digital Currencies (CBDCs) face a significant “chicken-and-egg” problem, where the adoption of these digital currencies is heavily influenced by the participation of both consumers and merchants. Specifically, merchants may hesitate to adopt CBDCs if consumers are not using them, while consumers might avoid CBDCs if merchants do not accept them. The term “chicken-and-egg” refers to a situation in which two interdependent factors create uncertainty about which should come first. In the context of CBDCs, this dynamic can lead to a self-reinforcing cycle of reluctance among both parties. CBDCs are…

According to a recent report by Chainalysis, South Korea’s cryptocurrency market has seen significant growth, largely fueled by the rising Korea Premium Index. This index measures the price discrepancies for major cryptocurrencies such as Bitcoin (BTC), Ether (ETH), and various altcoins traded on local exchanges compared to international platforms. The report highlights that local demand, combined with institutional trading and South Korea’s unique market dynamics, has led to higher cryptocurrency prices on domestic exchanges compared to global averages. Higher Prices for South Korean Traders The Chainalysis report indicates that the Korea Premium Index’s sharp rise signifies that South Korean traders…

Bitcoin has seen a significant slowdown in whale activity since reaching its yearly peak in March, according to recent data. Blockchain analytics platform Santiment reports that large Bitcoin transactions—those valued at $100,000 or more—have declined by 33.6% since March 13, the date when Bitcoin hit its all-time high of $73,679. Not Necessarily Bearish Despite the drop in whale transactions, Santiment suggests this trend may not signal a bearish outlook. Bitcoin “whales,” or wallets holding at least 10,000 BTC, are known for their influence on market trends. These large stakeholders often adjust their strategies based on extreme market sentiments, such as…

On Tuesday, cybercriminals took control of the X accounts belonging to Lara Trump, co-chair of the Republican National Committee, and Tiffany Trump, the former president’s younger daughter. The hackers used these compromised accounts to push a cryptocurrency token linked to World Liberty Financial, a project recently endorsed by the Trump family. Eric Trump, the former president’s son, swiftly denounced the fraudulent activity. “This is a scam!!!” he declared on X. “@LaraLeaTrump and @TiffanyATrump’s Twitter profiles have been compromised!!” He praised Twitter for its quick response in securing the accounts and removing the deceptive posts. World Liberty Financial Addresses the Security…

Pantera Capital, one of the leading venture capital firms in the cryptocurrency space, has made its largest investment to date by pouring over $100 million into Toncoin, the cryptocurrency linked with Telegram. This move comes as part of Pantera’s strategy to capitalize on the growing integration of blockchain technology within popular platforms. A Strategic Investment at a Discount Earlier this year, Pantera acquired Toncoin at a notable 40% discount from the market price. With the average price of Toncoin pegged at $6.32 in May, when the deal was publicly announced, the investment has proven to be lucrative. However, Pantera is…

Coinbase recently teased the upcoming launch of “cbBTC,” a new wrapped staked Bitcoin token intended to compete with Wrapped Bitcoin (WBTC). The announcement was made in a tweet early Wednesday and was further elaborated by blockchain journalist Colin Wu, who noted that Coinbase aims to build a robust Bitcoin economic system on its Base network. This move comes amid growing community concerns about Wrapped Bitcoin (WBTC) due to recent involvement from Justin Sun, founder of Tron. Sun has faced scrutiny over his role in WBTC’s custody operations, leading to debates and a transition plan announced by BitGo for WBTC’s multi-institutional…

Investors pulled around $168 million from nine U.S. Bitcoin ETFs on Monday. In just two days, these Bitcoin ETFs saw $405 million in withdrawals, according to Farside Investors. Meanwhile, Ethereum ETFs had a better time, with nearly $49 million flowing into them during the same period. Grayscale’s Bitcoin ETF (GBTC) and Fidelity’s Bitcoin fund (FBTC) saw the biggest withdrawals, with about $69 million taken out from each. On the flip side, Grayscale’s Bitcoin Mini Trust (BTC), which is a cheaper alternative to GBTC, gained nearly $29 million. Bitwise’s Bitcoin ETF (BITB) and Valkyrie’s Bitcoin fund (BRRR) also saw some positive…

A recent survey by Pantera Research Lab reveals that women in the U.S. crypto industry are earning nearly 15% more than their male counterparts. The median annual salary for full-time women in the crypto sector is $172,000, significantly higher than the median salary of $150,000 for men. This finding marks a notable deviation from the gender wage gap prevalent in many other fields. One reason for this salary disparity could be women’s higher average experience in the crypto industry. Women in crypto average 5.3 years of experience compared to 4.5 years for men. Moreover, women are more commonly found in…

Blockchain startup Chainbase has partnered with Alibaba Cloud to reduce operational costs for decentralized data distribution. This collaboration aims to cut expenses by 50% for Chainbase, which provides Web3 infrastructure for AI interactions. In a Thursday announcement on X, the Singaporean startup Chainbase revealed that its partnership with Alibaba Cloud will significantly cut operational costs and boost its focus on decentralizing data networks. Chainbase reported a 50% reduction in operational costs and 100% uptime during its petabyte-level migration. The startup also aims to leverage Alibaba Cloud’s community resources to speed up its network and AI model development, though it did…

Google parent Alphabet reported a 28.6% year-on-year increase in profits for Q2 2024, despite a $2.3 billion loss from its AI research division. The company posted net income of $23.6 billion and revenue of $84.7 billion, surpassing Zacks Investment Research’s estimate by over $14 billion. The loss from “Alphabet-level activities” nearly doubled from $1.2 billion in Q2 2023 to $2.3 billion. In an FAQ, Alphabet explained that “Alphabet-level activities” mainly involve AI-focused R&D and development costs for AI models, including spending through Google’s DeepMind and Google Research. These efforts aim to integrate AI into advertising and cloud services. Alphabet CEO…

President Joe Biden’s announcement on Sunday that he will not seek re-election in 2024 has shifted focus to Vice President Kamala Harris as the likely Democratic candidate. As Harris prepares for a potential presidential run, there are lingering questions about her stance on cryptocurrency, a topic she has yet to address publicly. Ryan Montoya, who was appointed as the director of scheduling & advance for the Biden-Harris campaign in 2020, brings a tech-savvy perspective to Harris’ team. With his background as the former CTO of the Sacramento Kings and a strong advocate for blockchain technology, Montoya’s influence hints at a…

The “r/mtgoxinsolvency” subreddit has been flooded with reports over the past 24 hours from users who have witnessed multiple login attempts on their accounts, raising concerns about a possible cyberattack. Numerous Mt. Gox creditors have encountered difficulties logging into their accounts on the website, with some sharing screenshots documenting numerous unauthorized login attempts. Some individuals have raised concerns that this might constitute a “brute-force” attack targeting Mt. Gox creditors, while others speculate it could be attributed to a website malfunction. “Just received 15 notifications for account log in. Now can’t get into my account,” one Redditor captioned their post on…

Arthur Hayes, co-founder and former CEO of BitMEX and current chief investment officer at Maelstrom, is introducing a grant program aimed at enhancing Bitcoin’s “resilience, scalability, and privacy features.” This initiative seeks to support blockchain developers tackling scalability and privacy challenges within the Bitcoin network. Arthur Hayes’ Maelstrom fund is launching the “Bitcoin Grant Program” aimed at advancing the technical development of Bitcoin. According to the initiative’s description, its mission centers on bolstering the network’s resilience, scalability, censorship resistance, and privacy features. “We are equipped to assist Bitcoin developers and are dedicated to conducting an open and transparent grant process.”…