Jack Dorsey, the former CEO of Twitter who went on to become a cryptocurrency entrepreneur and the CEO of payments company Block (SQ), is no longer on the board of BlueSky, the social network startup he began investing in in 2019 with the goal of decentralising social media. Using “freedom technology” like X, Dorsey urged

The Securities and Exchange Commission (SEC) sent a Wells Notice to the well-known trading platform Robinhood (HOOD) on May 4. On Monday, the stock recovered almost 2% after cutting its losses earlier. “On May 4, 2024, RHC received a ‘Wells Notice’ from the Staff of the SEC (the ‘Staff’) stating that the Staff has advised

A new exchange restructuring plan was scheduled to be released by FTX debtors the day before the transfer took place. 8,3 million worth of cryptocurrency was transferred through two wallets connected to the now-defunct FTX exchange and sibling company Alameda Research. In a post published on May 6, X, PeckShield revealed that an Alameda-related wallet

Low float tokens, which he saw as malevolent and his pet peeve, were fiercely disapproved of by the CEO of Uniswap. Uniswap’s CEO and founder, Hayden Adams, has shared his thoughts on the moral implications of efficient token distribution. This occurs a few days after the openness and equity of EigenLayer’s token distribution sparked concerns

According to the plaintiffs, the following are securities: Uniswap (UNI), Tezos (XTZ), Stellar Lumens (XLM), Decentraland (MANA), Polygon (MATIC), Near Protocol (NEAR), Solana (SOL), and Algorand (ALGO). A recent class-action complaint claims that Coinbase, the biggest cryptocurrency exchange in the US by volume, misled investors into purchasing securities. The CEO of Coinbase, Brian Armstrong, is

The hacker organisation would have requested a ransom if they were being truthful, according to Bitfinex CTO Paolo Ardoino, but he “couldn’t find any request.” Paolo Ardoino, chief technical officer of Bitfinex, said that the hacker organisation FSOCIETY’s allegations that they breached Bitfinex’s database and stole 22,500 client emails and passwords “seems fake.” “They would

The Grayscale Bitcoin Trust exchange-traded fund (ETF) has seen net positive inflows for the first time according to Grayscale Investments.This follows almost four months of nonstop withdrawals following its January conversion to a spot Bitcoin ETF.According to Farside early statistics, Grayscale’s Bitcoin Trust (GBTC) saw net inflows of $63 million on May 3 after recording withdrawals of over $17.5 billion since the introduction of 11 spot Bitcoin ETFs on January 11.Franklin Templeton’s Bitcoin ETF saw $60.9 million in inflows, the biggest of any fund tracked thus far.With $102.6 million, Fidelity’s Wise Origin Bitcoin Fund led the day’s inflows. Bitwise Bitcoin Fund came in second with $33.5 million, while Invesco Galaxy Bitcoin ETF came in third with $33.2 million. The crypto community has been speculating how the turn in events might impact the price of Bitcoin  The “primary source” of sell pressure on all spot Bitcoin ETFs, according to pseudonymous cryptocurrency trader DivXman, is the GBTC, but “the tides” may be turning.In a tweet from May 3, he informed his 20,800 X followers, “That effectively means a significant decrease in sell pressure and additional increase in demand while ETFs collectively are buying more BTC than miners can create.”On the same day, cryptocurrency trader Jelle informed his 80,300 X followers that a new all-time high for Bitcoin was imminent. “60 million dollars worth of inflows for Grayscale’s ETF. The halving chop will come to an end, and 6-figure Bitcoin will follow shortly after.” In response to the news, cryptocurrency trader Jordan Lindsey mentioned the price of Bitcoin and stated that it is “obviously responding both to outflows and inflows.”As of the time of writing, the price of bitcoin was $62,840, up 4.91% from the previous day, according to data from CoinMarketCap. Grayscale’s continuous withdrawals since the debut of the 11-spot Bitcoin ETFs were caused by a number of factors.The high costs of GBTC in comparison to other ETFs on the market is one factor.While the fees for other ETFs are less than 1%, GBTC charges 1.5%.Franklin Templeton is currently the least expensive, charging 0.19%.The sale of significant quantities of GBTC shares by bankrupt cryptocurrency companies FTX and Genesis in an attempt to pay off creditors is another major factor.According to a Cointelegraph story from April 6, Genesis sold almost 36 million GBTC shares for $2.1 billion in order to buy 32,041 Bitcoin.

On May 4, Bitcoin surged to $64,500 as further price increases were generated by trading after hours. Bitstamp records new local highs of $64,522, a new milestone for May, according to data from Cointelegraph Markets Pro and TradingView.Invigorated by positive indications of a recovering cryptocurrency market, such as the first inflows for the Grayscale Bitcoin Trust (GBTC) in almost three months, the strength that surfaced in US employment data continued to gather momentum until the daily close.Compared to April’s 15% losses, BTC/USD was up 5% so far this month as of this writing, according to data from the monitoring resource CoinGlass. “Had a great push into the market close yesterday,” popular trader Daan Crypto Trades reacted in part of his latest coverage on X (formerly Twitter). “While I am liking how the charts are shaping up on the higher timeframes, I’ll be patient and not start adding on green candles during the weekend. Will

The former CEO and CFO of Cred are required to submit a plea by May 8 following their initial court hearings on May 2. Before the company filed for bankruptcy in November 2020, three former executives of the bankrupt cryptocurrency lender Cred are accused of wire fraud and money laundering. “This prosecution demonstrates our determination

Repercussions will be applied by LayerZero Labs to individuals who fail to self-report by May 17. LayerZero Labs has presented a way to deal with sybil activity, which goes by the name of “airdrop farming.” The inventor of the cross-chain communication protocol unveiled a self-reporting system that rewards honest behaviour with 15% of the tokens

The United States Sentencing Guidelines and other statutory considerations will be taken into consideration by a federal district court judge when determining the defendant’s punishment. Co-founder of BTC-e, a purportedly illegal bitcoin exchange, Alexander Vinnik, has acknowledged his involvement in a money laundering scheme involving cryptocurrency exchanges. This acknowledgment comes after a more thorough investigation

May will see the release of vested crypto assets valued at over $3.1 billion, with tokens worth over $1 billion apiece being unlocked by projects like Pyth Network and Sui.To encourage ongoing commitment to a cryptocurrency project, crypto vesting is implemented.Vested cryptocurrency tokens are locked, making it impossible for team members or early backers to quickly sell their tokens and quit the enterprise. Layer-1 blockchain platform Sui is the project releasing the most vested crypto assets out of all of them.On May 31, it is anticipated that the project will release about one billion tokens to its community reserve, early backers, Mysten Labs treasury, and Series A and B investors.As of this writing, the tokens are valued approximately $1.15 billion. In the meantime, the second-largest quantity will be made public in May by market data portal Pyth Network.The cryptocurrency project will release more than two billion tokens for protocol advancement, ecosystem expansion, publisher incentives, and investors in its private sale on May 20. With Pyth Network’s (PYTH) token hovering at about $0.51 a piece, the tokens to be released are worth roughly $1.1 billion.  Aside from the two, tokens worth a total of over $700 million will be released by companies like Avalanche, Aptos, Arbitrum (ARB), Starknet (STRK), Optimism (OP), and Immutable (IMX).Aptos plans to distribute 11.3 million APT tokens, valued at $101 million, to its investors, core contributors, community, and foundation on May 12.Avalanche will release 9.5 million AVAX, or about $321 million, on May 22nd for its airdrop, foundation, team, and key partners. On May 16, the Layer-2 blockchain network Arbitrum will issue an additional $95 million in ARB tokens.The investors and project team each receive a certain number of tokens.Arbitrum distributed $2.3 billion in tokens to its investors and workforce on March 16. Furthermore, on May 15, Starknet will release $84 million in tokens for its investors and early backers, and on May 17, Immutable will release $56 million in cryptocurrency tokens for the development of its ecosystem and projects. Scaling solution for Layer-2On May 29, Optimism will also release 24.1 million OP tokens.At current market pricing, the tokens are valued at approximately $70 million.Optimism also issued $587 million worth of OP tokens in May 2023 as a thank you to its investors and early contributors.

In a single transaction, an unidentified trader lost $68 million in Wrapped Bitcoin (WBTC) due to an address-poisoning scheme. On-chain security company Cyvers initially made public the $68 million heist in a post on May 3rd, X. “Are we mistaken, or has someone truly lost $68 million worth of $WBTC? Our system has detected another address falling victim to address poisoning, losing 1,155 $WBTC.” According to CoinStats, the victim, wallet “0x1E,” has lost more than 97% of its entire asset value, which is more than $67.8 million. Address spoofing, another name for address poisoning, is a tactic used to take advantage of traders who are hurried and negligent when completing deals.It entails deceiving victims into transmitting their digital assets to fictitious addresses that cybercriminals control. The public’s confidence in the cryptocurrency sector is still plagued by scams.Investors lost digital assets worth at least $33 million in April as a result of the fraudulent case involving the ZKasino gaming platform.On April 29, Dutch officials detained a man connected to the ZKasino scam.April saw a total of $25.7 million worth of cryptocurrencies lost to frauds and hacks, despite the ZKasino event.This is the lowest historical number since the data was first tracked by the on-chain intelligence company CertiK in 2021.The research states that losses resulting from frauds, exploits, and hacks decreased by 141% in comparison to the preceding month.The absence of private key compromises is the primary cause of the drop.In contrast to March, which witnessed over 11 attacks via private key compromises, April only saw three private key breaches. The $33 million ZKasino scam is not included in CertiK’s statistics, though.The report does not yet classify the project as a scam, even if it believes it to be in the midst of a “controversy.”Investor worries increased when ZKasino moved all 10,515 Ether that investors had put into the Lido staking system on April 22.According to CertiK’s study, if ZKasino was shown to be a malicious actor, the company would revise its statistics

A stronger dollar has been a factor in the decline in both gold and equity prices since they peaked in mid-April, according to Coinbase.The largest cryptocurrency in the world saw its monthly decrease since June 2022 of 16% in April. “What leaves us optimistic in this pullback is that BTC’s maximum drawdown from peak is at 23%, below its historical range,” analysts David Han and David Duong wrote. “We believe that this trend of overall reduced drawdowns will persist, in part because of the legitimization of BTC as a macro asset,” the authors wrote.

The Conservative Party, which has taken a pro-crypto stance, is losing ground to the Labour Party, which has supported tokenization but has not yet stated where it stands on cryptocurrencies in general. These are the early results of yesterday’s municipal elections in the United Kingdom. With over 2,600 seats up for grabs, voters in around

According to Bloomberg on Friday, the CEO of CF Benchmarks, a division of cryptocurrency exchange Kraken, believes that cryptocurrency exchange-traded funds (ETFs) in Hong Kong will surpass $1 billion in assets under management (AUM) by the end of 2024, despite an unlucky start. Reference data for crypto ETFs, primarily bitcoin products like BlackRock’s IBIT, is

On Friday, the decentralised social network Friend.Tech unveiled version 2, which is jam-packed with new features like the Money Club, and airdropped its native currency, FRIEND. Data from DEXscreener reveal that the token’s price spiked to $169 right after it started trading on Base, then it crashed to $2.5 very fast. “It appears that liquidity

The use and popularity of cryptocurrencies have skyrocketed in recent years. Numerous new blockchain and cryptocurrency firms have found a home in a variety of industries, including finance, supply chain management, gaming, and many more. In the realm of cryptocurrencies, security is paramount. Companies in this ecosystem need to take precautions against fraud to protect

The biggest bitcoin-holding company, MicroStrategy (MSTR), announced plans to create a decentralized identification service with Ordinals inscriptions.Earlier in the year, the software consulting firm started marketing itself as a “bitcoin development company” and claimed to be working on financial markets, advocacy, and innovation to develop the Bitcoin network.The implementation of “MicroStrategy Orange,” as it has been dubbed, is an indication that the business is pursuing this goal. Michael Saylor, the founder of MicroStrategy Orange, stated during the company’s Bitcoin For Corporations conference on Wednesday that the company aims to provide “trustless, tamper-proof and long-lived” decentralized identities via the Bitcoin blockchain.Decentralized identifiers (DIDs), which provide pseudonymity, can be issued by users of the service.DIDs are unrelated to real-world identities, just like bitcoin transactions are not.Orange makes use of the Bitcoin Ordinals Protocol, which enables data to be exchanged and saved on individual satoshis—the smallest unit of currency in the world, or 1/100,000,000th of a BTC. Using its service, MicroStrategy has already developed one application, “Orange For Outlook,” which incorporates digital signatures into emails so that recipients can confirm the sender’s identity.With 214,400 BTC ($10 billion) in possession, MicroStrategy has more than 1% of every bitcoin that will ever be created.

The finance behemoth PayPal (PYPL) and cryptocurrency purchasing app MoonPay announced their partnership on Thursday.According to a press statement, the agreement enables MoonPay users in the United States to easily purchase cryptocurrency with PayPal through wallet transfers, bank transfers, and debit card transactions.Purchasing and dealing in cryptocurrency is a continuous endeavor that has not been enabled by the world’s high street banks. With over 15 million users, cryptocurrency-focused MoonPay is no slouch compared to PayPal’s around 426 million active accounts worldwide. Ivan Soto-Wright, co-founder and CEO of MoonPay, described the partnership as “symbiotic,” noting that although PayPal’s limited selection of major cryptocurrencies is now expanded to include the entire spectrum of well-known tokens, users of his app expand their reach and have a new flexible payment option. As Soto-Wright noted, the agreement involves PayPal becoming integrated into MoonPay’s infrastructure rather than a standalone integration of the kind the finance behemoth has been investigating with Web3 wallet MetaMask, for example. We are the first company to do this with PayPal, and it was a long process to get them comfortable,” Soto-Wright said in an interview. “We process billions of dollars on debit and credit cards in terms of cryptocurrency, and we think this is going to be a big step up

A gold pocket watch found inside the body of the richest passenger on the Titanic was purchased by Patrick Gruhn, the former chairman of FTX Europe, for about $1.5 million, “the largest sum ever spent at auction on a piece of Titanic memorabilia,” according to The Wall Street Journal. John Jacob Astor IV, an American

The Binance According to a spokesman for the family of imprisoned executive Tigran Gambaryan, Nigeria’s money laundering trial has been postponed until May 17. Although it was originally scheduled for today, the trial was postponed. Binance’s attorney reportedly protested in court, according to Reuters, that he had not received the further evidence he required to

The Department of Justice stated on Wednesday that Yaroslav Vasinskyi, the Ukrainian national who goes by Rabotnik, has been sentenced to 13 years and seven months in jail for his involvement in carrying out over 2,500 ransomware operations and requesting over $700 million in ransom payments. The sentence is a component of a larger offensive

After utilizing a record 200 million transactions to train an artificial intelligence (AI) model, the blockchain analytics company Elliptic claimed to have found possible money laundering tendencies on the Bitcoin blockchain.This work is an expansion of a program that was implemented in 2019 with a dataset consisting of just 200,000 transactions.Twelve2,000 tagged “subgraphs,” or collections of related nodes and transaction chains with ties to illegal activities, were used in the much larger “Elliptic2” dataset. The bigger the information that is available to train the machine-learning algorithms, the more perceptive AI gets, and cryptocurrencies like bitcoin provide an abundance of clear transaction data on the blockchain.Elliptic said in a paper co-authored with researchers from the MIT-IBM Watson AI Lab that it used the transactions to accurately categorize fresh criminal behavior and learn the collection of “shapes” that money laundering displays in cryptocurrencies. “The money laundering techniques identified by the model have been identified because they are prevalent in bitcoin,” Elliptic co-founder Tom Robinson said in an email. “Crypto laundering practices will evolve over time as they cease being effective, but an advantage of an AI/deep learning approach is that new money laundering patterns are identified

Bitvavo, a cryptocurrency exchange based in the Netherlands, plans to utilize Figment’s institutional-grade infrastructure for staking a range of tokens on behalf of its users.Figment declared that it would supply the staking infrastructure for the Dutch exchange in 2021, drawing large investments from companies like Galaxy Digital.Using several proof-of-stake protocols, such as Ethereum, Solana, and NEAR, Bitvavo will stake user assets. Mark Nuvelstijn, the CEO and co-founder of Bitvavo, emphasized in a statement the exchange’s efforts to evaluate and improve its offerings.The business further stated that Figment is an addition to and a more varied range of pool staking service providers, which already include Kiln, Coinbase, and Copper.According to Nuvelstijn, staking has grown to be a crucial component of the bitcoin market and is a necessary service for the more than 1.5 million consumers that the company serves in the Benelux area. According to the CEO of Bitvavo, collaborating with Figment would enable the exchange to increase staking security and safety and broaden its offering: “Figment is one of the staking infrastructure leaders in the market, and we continue to be impressed by their staking- and up-to-date market knowledge.” The goal of the two teams’ six-month collaboration, according to Figment EMEA CEO Eva Lawrence, is to lead the exchange’s staking services throughout Europe.Access to staking rewards on Bitvavo on recently deployed networks is expected to be made possible by the cooperation.In order to deliver excellent network performance and security for Bitvavo, Figment is also setting up specialized validator nodes. The Dutch exchange has persisted in taking a methodical approach to growing its presence throughout Europe.After successfully registering with France’s Autorité des Marchés Financiers (AMF) as a digital asset service provider, it announced the availability of services to French users in November 2023.After receiving regulatory authority to provide its services in Austria, Bitvavo expanded into France.In 2022, the exchange extended its service to Italy, and it has since submitted registration requests for more significant European markets. Previously, during the European Blockchain Convention in Barcelona in October 2023, Nuvelstijn gave an exclusive interview to Cointelegraph in which he expressed his confidence that cryptocurrency companies will be able to provide financial services to financial institutions and vice versa thanks to Europe’s Markets in Crypto Assets (MiCA) framework.

The total amount of bitcoin that was breached by hackers fell 67% in April to $60.2 million, indicating a major decrease in crypto attacks and the first dip of this kind since 2024. According to a May 1 X post by on-chain security company Peckshield, the drop of 67% is a dramatic decrease from the $187.6 million compromised in March, which is insignificant in contrast to the $360.8 million worth of compromised digital assets in April. A grand total of $60.2 million was pilfered each month from forty distinct hacking instances.One of the biggest problems affecting public adoption and confidence in cryptocurrencies has been the prevalence of exploits and hacks.The biggest occurrence of April was the $44.7 million attack on the token infrastructure platform Hedgey Finance.On April 19, the hackers took advantage of a weakness in Hedgey’s token claim contract on the Arbitrum Network. According to FixedFloat’s April 2 X post, a vulnerability with a third-party service provider employed by the exchange resulted in $3 million worth of cryptocurrency being stolen from the Fixed Float cryptocurrency exchange in the second-largest hacking incident. Cybercriminals gained $2.67 million in digital assets from the third-largest attack on Grand Base, and lost $1.6 million from the fourth-largest hack on Pike Finance.The $1.6 million attack was Pike Finance’s second hack in three days, following a $300,000 exploit on April 26. This added to investor fears.As per a May 1 X post by Pike Finance, the two assaults were caused by the same smart contract vulnerability that gave the attacker the ability to override the contract. According to a May 1 report by cryptocurrency bounty platform Immunefi, the year-to-date (YTD) total value of hacks and rug pulls in the crypto field was over $401 million. This is a 25.1% decline from the same period in the previous year, when there were over $536 million worth of hacked money.Based on data from Immunefi, there were 21 incidences of fraud and hacking in April that cost $53 million. This is a 46% decrease from April 2023, when attackers took over $98 million in digital assets. Hacks remained the main cause of losses, accounting for over 94.3% of the lost funds during the month.

Following a recent email announcement on Wednesday, investment bank Standard Chartered stated that Bitcoin’s (BTC) fall below the $60K technical level indicates that there may be further decline to the $50K–$52K region. The bank stated that a mix of macro effects and peculiarities unique to cryptocurrencies appears to be the cause of the decline. At