The suspected real owner of South Korea’s largest crypto exchange Bithumb has been arrested on alleged embezzlement charges on Feb. 2 local time. According to local media reports, Kang Jong-hyun was arrested on charges of alleged embezzlement. The Seoul Southern District Court issued an arrest warrant for the businessman on Jan. 25 with multiple charges, including dereliction of duty, market…
A whopping 72% of institutional e-traders have signaled “no plans to trade crypto/digital coins” in 2023, according to a new survey conducted by JPMorgan. The seventh edition of JPMorgan’s e-Trading Edit surveyed 835 traders from 60 different “global locations” about the technical developments and macroeconomic factors that will influence trading performance in 2023. The survey was conducted between Jan. 3…
Non-fungible token (NFT) sales increased 41.96% from the previous month, according to data recorded on Feb. 1, 2023. NFT sales reached nearly $1 billion in 30 days, with an approximate total of $997.53 million. Additionally, the number of digital collectible transactions rose more than 22% in the past month. Bored Ape Yacht Club Dominates, Ethereum Leads With 78% of Total…
Despite a harsh crypto winter that has brought several industry names to ruin, blockchain technology continues to thrive in education. Aptos Labs, the company behind the blockchain of the same name, announced a $50,000 grant award on Wednesday to Professor Lorenzo Alvis of Cornell University in New York. Alvisi, who earned his Ph.D. from Cornell in 1996, teaches computer science…
Meta CEO Mark Zuckerberg says the company has no plans to change its long-term strategy for the Metaverse, despite operating losses for its Reality Labs business peaking in 2022. Meta’s Q4 earnings released on Feb. 1 show Reality Labs lost $13.7 billion in 2022 — the largest ever yearly losses recorded for its metaverse-building division. The fourth quarter was particularly costly, with…
According to research from Recap, a cryptocurrency tax software company, London has become the world’s leading hub for cryptocurrencies. The researchers analyzed eight indicators, including the number of cryptocurrency businesses and the quantity of cryptocurrency ATMs in each country. Key Findings of Recap’s Study on Global Cryptocurrency Hubs Crypto tax firm Recap released a research report on Jan. 25, 2023,…
The total crypto market cap jumped nearly 4% following a speech from United States Federal Reserve Chair Jerome Powell in which he suggested the economy’s disinflationary process has started. “We can now say, I think for the first time, that the disinflationary process has started […] we see it really in goods prices,” said Powell during a Feb. 1 Federal…
A small-scale decentralized autonomous organization (DAO) has suffered a rather sizeable smart contract exploit leading to an estimated $120 million being stolen from its protocol. BonqDAO, which is behind the Bonq protocol, told its Twitter followers on Feb. 1 that its protocol was exposed to an oracle hack that allowed the exploiter to manipulate the price of the AllianceBlock (ALBT)…
In case you forgot, Coinbase still has an NFT marketplace—and it’s still not doing very well. Coinbase NFT announced on Wednesday that it is “pausing” future NFT drops, but specified that it is not shuttering its marketplace completely. “We are pausing creator Drops on the NFT marketplace to focus on other features and tools that creators have asked for,” Coinbase…
Ethereum’s next big upgrade, Shanghai, is on the horizon for March. The Shanghai hard fork will implement further improvement proposals for the Ethereum network as well as enable Ether (ETH) stakers and validators to withdraw their assets from the Beacon Chain. At the time of writing, staked ETH represents approximately 14% of the total supply, or 16 million coins. It…
