Solend is a decentralized lending and borrowing protocol built on Solana. It is lauded for expanding the methods available for Solana users to boost financial gains. Filling a large gap in the Solana ecosystem, Solend drew a staggering $100 million in deposits in just over a month post-launch. Related: DeFi lending and borrowing, explained Solend rode the high scalability of…
Bitcoin and the rest of the cryptocurrency market has held steady following the Federal Reserve’s announcement today that the central bank has hiked interest rates by 25 basis points. The move, which aligned with market expectations, raises rates from 4.5% to 4.75%, the highest the federal funds rate has been in decades. The Fed began aggressively raising rates last year…
The Office of Foreign Assets Control of the United States Department of the Treasury has added two cryptocurrency wallets allegedly connected to a Russian sanctions evasion network as part of its list of Specially Designated Nationals. In a Feb. 1 announcement, OFAC said it had added one Bitcoin (BTC) address and one Ether (ETH) address to its list of sanctioned…
Sam Bankman-Fried is no longer allowed to contact FTX and Alameda employees or use encrypted communications, U.S. District Judge Lewis Kaplan ordered Wednesday. The restriction was put into place following claims made Friday that the disgraced crypto mogul had contacted a potential witness earlier this month via the encrypted messaging platform Signal, seeking to establish a more favorable relationship. The…
The South African grocery retailer Pick n Pay is expanding its Bitcoin (BTC) coverage to all 1,628 stores across the country following a three-month pilot testing phase in 39 locations. As part of its nationwide rollout, store customers will be able to pay for items using cryptocurrency via smartphone apps or by scanning a QR code and accepting the South…
The U.S. Treasury today sanctioned two cryptocurrency addresses linked to a Russian arms dealer. In a Wednesday statement, the Treasury’s Office of Foreign Assets Control (OFAC) said it had blacklisted Bitcoin and Ethereum addresses used by Jonatan Zimenkov, the son of Igor Vladimirovich Zimenkov. According to the OFAC, father and son Igor and Jonatan Zimenkov have worked together to run…
On Jan. 26, 2023, the cryptocurrency asset aptos (APT) reached an all-time high and then lost 20% of its value over the next five days. In the past 24 hours, it also shed 8.3% against the U.S. dollar. Despite the decline from its all-time high, APT is still up 349% compared to last month’s exchange rate. Aptos Hits $20 Ceiling,…
A federal judge in the United States has reportedly given approval for tech giant Meta to move forward on acquiring a virtual reality company. According to a Feb. 1 report from Bloomberg, Judge Edward Davila in U.S. District Court for the Northern District of California denied an injunction by the Federal Trade Commission, or FTC, as part of an effort…
Bitcoin (BTC) gained about 40% in January, its best finish in the first month of the year since 2013. The sharp rally caused a change in sentiment and the futures markets which saw backwardation in November and December started trading at a healthy contango in January, according to Glassnode. Coming out of a bear market low, a rally driven by…
Correction: A previous version of this article reported that the SEC had ruled that LBRY’s LBC tokens sold on secondary markets were not securities. That is incorrect, and we regret the error. The price of LBRY Credits (LBC) has risen more than 67% following social media chatter celebrating what Crypto Twitter is interpreting as a significant win in LBRY’s battle…
