South Korean crypto investment startup platform Uprise reportedly lost around 99% of its assets worth about $20 million when it got liquidated shorting the LUNA token. Uprise’s trading desk Heybit uses an artificial intelligence (AI) trading system that was designed to reduce the risks associated with leveraged trading. Local news outlet Seoul Economic Daily reported on July 6 that Uprise’s…
This is an opinion editorial by Boomer, a long-time and active member of the financial independence/retire early (FIRE) movement and a contributor at Bitcoin Magazine. It has been exactly one year since I started my Bitcoin journey, and after being inspired by meeting several amazing Canadian Bitcoiners over the past few weeks, I want to share my story. In some…
Bank of America has revealed that the number of its customers who are active crypto users has declined more than 50% from its peak in November last year. In addition, the bank said its data “shows that outflows to crypto platforms have fallen sharply,” indicating that “consumers are pulling back on their net investment into crypto platforms.” Bank of America’s…
The leadership of the crypto-friendly charter city of Próspera in Honduras has hit back at reports it is facing a backlash from residents of the neighboring community of Crawfish Rock over its expansion plans. A July 5 article from The Guardian reported the special economic zone, touted as an island paradise with low taxes/fiscal responsibility, luxury homes and crypto-friendly regulation…
Ethereum has now completed its second-to-last major Merge trial on the public test network Sepolia, paving the way for its transition to the proof-of-stake (PoS) consensus mechanism. While it’s been judged mostly a success, it was not incident free. The final trial of the Merge is set to occur on the Goerli network over the next few weeks before the…
Even as crypto firms shed workers and seek bankruptcy protection in a brutal market downturn, executives from traditional finance are still heeding the siren song of Web3. Former JP Morgan executives Eric Wragge, Puja Samuel, and Samir Shah have all left the storied financial institution. 💥JP Morgan lost 3 executives to crypto firms this week. 😂 — Bitcoin Archive 🗄🚀🌔…
Elon Musk’s Boring Company will accept the meme cryptocurrency dogecoin as payment for rides on its Las Vegas transit system Loop. Musk confirmed that he is “supporting Doge whenever possible.” Tesla already accepts the meme crypto for some merchandise and Spacex will soon follow suit. Elon Musk’s Boring Company to Accept Dogecoin Payments The Boring Company, founded by Tesla CEO…
Over the last 10 weeks, I traveled over 8,000 miles of the United States by motorcycle, visiting 25 Bitcoin meetups in Texas, the South and the Midwest. I am not done yet, but I wanted to share a few of my thoughts while the memories are still fresh, so you and your friends and family can understand what I am…
Trading across the cryptocurrency market was relatively subdued on July 5 as the ecosystem continues to digest the fallout from the Three Arrows Capital scandal and Voyager Digital announcing that it has filed for Chapter 11 bankruptcy protection. Data from Cointelegraph Markets Pro and TradingView shows that the price of Bitcoin (BTC) has spent the day oscillating around the $20,000…
Hardware wallets designed to securely store cryptocurrency have seen a several-fold increase this spring in Russia, on the backdrop of currency restrictions introduced amid foreign sanctions. Ledger and Tangem have been the most popular products on the market, a media report revealed. Russians Buy More Hardware Crypto Wallets, Market Players Say Russian crypto users have sought to purchase up to…
