Blockchain News Archives

Blockchain News

Korean Won Edges Out US Dollar as Top Fiat Currency in Crypto Trading

The South Korean Won (KRW) has lately eclipsed the US Dollar (USD) as the main fiat currency regarding trading volume on centralised exchanges, marking a significant shift in the global cryptocurrency industry. The Korean Won enabled transactions totalling more than $456 billion in the first quarter of 2024, according to recent research by the financial […]

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Grand Base Heist: Key Exposure Leads to $1.7 Million Loss

Grand Base, a platform specifically on Coinbase’s layer-2 blockchain, has disclosed a serious security breach that cost them $1.7 million in lost revenue. This incident, which resulted from an exposed private key, caused money to be stolen and its native token’s value to plummet by 99% in a single day. Urgent requests for significant security […]

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Coinbase Seeks Early Appeal in SEC Case

With 73 million users, Coinbase is the biggest cryptocurrency exchange in the United States. It filed an interlocutory appeal in its high-stakes legal dispute with the US Securities and Exchange Commission (SEC). The motion, filed on April 12, asks for a judicial review of a critical legal issue supporting the SEC’s allegations that Coinbase functions […]

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Paradigm Leads $225M Investment in Ethereum Rival Monad Labs

Venture capital company Paradigm led a $225 million fundraising round for Monad Labs, a new Layer 1 (L1) network ready to take on existing heavyweights like Ethereum and Solana, in a significant development for the blockchain space. With this funding, Monad Labs is taking an essential step towards its goal of redefining the blockchain industry […]

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Chinese Funds Pursue Bitcoin ETFs in Hong Kong

Two significant Chinese institutions, Harvest Fund and China Southern Fund, are moving forward with plans to create spot Bitcoin exchange-traded funds (ETFs) in Hong Kong, a noteworthy step in the cryptocurrency investment scene. This calculated action is being taken when interest in spot Bitcoin ETFs in the US is dwindling, as the weekly inflows into […]

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The New Integration of Memecoins on Fantom

With the emergence of memecoins, the cryptocurrency environment is undergoing a major revolution, and one well-known blockchain platform leading this change is Fantom. A new chapter in the history of digital currencies has begun with Andre Cronje, a primary Fantom developer, announcing plans to include memecoins into the ecosystem. The Rise of Memecoins A subgroup […]

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Binance Executive Detained in Nigeria

The leading cryptocurrency exchange in the world, Binance, is currently mired in a legal dispute in Nigeria. Tigran Gambaryan, the exchange’s executive, was imprisoned for five weeks before being charged with money laundering. In support of Gambaryan, Binance has issued an official statement claiming that he has no decision-making authority within the organisation. The circumstances […]

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US Authorities Relocate $2 Billion in Bitcoin Seized from Silk Road

Blockchain data from April 2 highlighted a transfer of over $2 billion in Bitcoin (BTC), revealing that a US Justice Department-affiliated wallet first made a modest test transaction before transferring a substantial sum of 30,174 BTC. The money that was moved represents part of the Bitcoin that was seized from James Zhong, who was found […]

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Tether Achieves Major Security Milestone with SOC 2 Type 1 Audit

The well-known stablecoin issuer Tether has reached a significant milestone in its dedication to security and dependability by successfully completing the System Organisation Control (SOC) 2 Audit Type 1. The American Institute of Certified Public Accountants (AICPA) audit provides evidence of Tether’s robust IT control procedures and commitment to system security. Tether is reaffirming its […]

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Munchables NFT Game Recovers $62 Million After Exploit

Operating on the recently built Ethereum Layer 2 network Blast, the NFT game Munchables was vulnerable to a $62 million breach. The Munchables crew responded quickly to reassure the community that all money was safe. By providing the keys to all of the Munchables funds, a project developer helped to facilitate the recovery of the […]

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US Treasury Expands Sanctions on Russian Financial Institutions

Expanding its penalties, the US Treasury’s Office of Foreign Assets Control (OFAC) is now targeting individuals and organisations operating in Russia’s banking and technology industries. Thirteen organisations and two people are implicated in this action, all associated with virtual assets that can evade US sanctions. Interestingly, five of these organisations have relationships with people previously […]

Blockchain News

Nigeria’s Tax Evasion Charges Against Binance

Binance has been the target of a criminal investigation by the federal government for potential tax evasion. The action, filed on March 25 at the federal high court in Abuja by the Federal Inland Revenue Service (FIRS), attempts to uphold fiscal discipline and safeguard the nation’s economic integrity. Binance is accused of not meeting specific […]

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