The decentralized finance (DeFi) industry has lost over a billion dollars to hackers in the past couple of months, and the situation seems to be spiraling out of control. According to the latest statistics, approximately $1.6 billion in cryptocurrencies was stolen from DeFi platforms in the first quarter of 2022. Furthermore, over 90% of all pilfered crypto is from hacked…
During the Middle Ages, a group of men tried to turn base metals into gold; they were known as alchemists and they did not succeed in their endeavors. We’re fortunate that they didn’t. Why? Consider the alternative. Had the alchemists found a way to transmute base metals such as lead into the monetary unit of the time, a race would…
Amid the Terra blockchain meltdown, Bitcoin’s hashrate has been well above the 200 exahash per second range, at 212 EH/s at the time of writing. Bitcoin’s hashpower has remained high after reaching an all-time high on May 02, at block height 734,577. Moreover, while bitcoin miners continue to search for blocks, the network recorded another difficulty increase following the last…
Jesse Powell, veteran CEO of early Bitcoin exchange Kraken, isn’t overflowing with love for government entities, to put it mildly. When New York announced its controversial BitLicense regulatory framework for crypto in 2015, Powell immediately and permanently pulled Kraken out of the state, later referring to New York as “that abusive, controlling ex you broke up with 3 years ago…
In Episode 10 of the Navigating the Metaverse podcast, hosted by Cathy Hackl and Tommaso di Bartolo, Andrew Hayward of Decrypt and Josh Roth of Decrypt Studios discuss how companies are approaching the metaverse, where it could all go next, and what it was like to watch a movie in a Lamborghini on the moon. Source: https://decrypt.co/videos/interviews/TQkvWo8u/how-brands-are-creating-immersive-experiences-in-the-metaverse
A recent survey study has found that two out of five Americans in committed relationships have admitted to hiding a cryptocurrency purchase from their partner. The crypto-cheating partners believe disclosing the purchase would damage their relationship. Reasons for Not Disclosing Purchases A Circuit survey study that sought to determine the extent of financial infidelity among Americans has found that two…
Where to begin? In a decade of covering crypto I’ve seen a lot of crazy things, but never a week like that. In the past, there have certainly been one-off incidents that turned the industry upside down—like the 2014 Mt. Gox hack, or Tesla buying $1.5 billion worth of Bitcoin, or Elon Musk shilling Dogecoin on SNL—but never a cascade…
The world of decentralized finance (DeFi) is gradually expanding to encompass a significant share of the global financial lending space by virtue of the inherently trustless manner of operation and the ease of accessing capital. As the crypto ecosystem has grown to a $2-trillion industry by market capitalization, new products and offerings have emerged thanks to burgeoning innovation in blockchain…
Crypto.com was one of the few crypto exchanges to keep LUNA trades open as Terra’s death spiral saw an unrecoverable price crash of LUNA and stablecoin UST. However, a technical glitch on Crypto.com’s mobile application allowed users to get away with a 30-40x profit on LUNA trades momentarily. On Friday, Crypto.com abruptly barred users from trading after an internal tool…
Bitcoin (BTC) failed to reclaim $30,000 into May 14 as traders looked forward to a relatively stable weekend. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitfinex longs gather strength Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it lingered below the $30,000 mark, now rapidly becoming resistance. The pair had reached just shy of $31,000 before retracing, while…
