Author: Xavi Pepple
Spot Bitcoin ETFs saw $1.2 billion pulled out over eight days, even though they grew in 2024. The 12 U.S. spot Bitcoin ETFs together lost this amount between August 30 and September 6. This marked the longest period of withdrawals since these spot Bitcoin ETFs were introduced in January. The withdrawals came as Bitcoin prices dropped, falling from $64,668 on August 26 to $53,491 on September 7, which is a 17.28% drop in two weeks. Experts point out that Bitcoin often performs poorly during September, which explains the recent drop in value. The term “Rektember” is commonly used in the crypto…
Changpeng Zhao, who started Binance, is no longer allowed to run the company. This was confirmed by the current CEO, Richard Teng. The ban happened after Changpeng Zhao admitted to helping with money laundering and breaking U.S. laws. Because of this, the U.S. Department of Justice (DOJ) has permanently stopped him from being involved in running the company. See Also: Binance Exchange Sees Over $1.2B Inflows In a Single Trading Day What’s The Way Forward For Changpeng Zhao Even though Changpeng Zhao cannot manage Binance anymore, he still owns 90% of it. This makes him the largest shareholder, giving him…
Ethereum, the second-biggest cryptocurrency, has not met investors’ expectations this year, especially when compared to Bitcoin. Over the past six months, Ethereum’s price has dropped around 35%. This downward trend has continued even after spot Ether exchange-traded funds (ETFs) started in the U.S. in July. In the last 30 days, Ethereum’s price has lost 23% and is still in a bearish trend. This drop surprised many who thought its price would go up after the ETFs were launched. See Also: Ethereum Exchange Traded Funds Witnesses Massive Inflows Ethereum’s Price Analysis Despite this, some experts think a turnaround could happen. Cryptocurrency analysts…
Ripple has announced its plan to add smart contracts to the XRP Ledger (XRPL). This is an important update because, even though XRPL is one of the older blockchain networks, it does not currently have smart contract features. Adding smart contracts could help XRPL keep up with other networks like Stellar, which introduced them earlier this year. The XRPL community has been working on ways to bring smart contracts to the network, using different methods like the Hooks protocol. However, progress has been slow due to various challenges. Ripple has now presented a two-part plan to make smart contracts possible on…
The Shiba Inu community recently saw an unexpected burning of a large amount of SHIB tokens by a Shiba Inu wallet. According to Shibburn, a tracker run by the community, about 1,881,669,401 SHIB tokens, valued at around $35,643, were burned on September 26th at 22:42 UTC. This is one of the biggest burns in recent months, grabbing a lot of attention. The burn caused the daily burn rate to increase by 33,818%, before it later settled at 19,930%. Despite how large this burn was, no one has come forward to take credit for it. Related: Shiba Inu Witnesses A Massive…
Elon Musk, the head of Tesla, won a lawsuit where he was accused of unfairly changing the price of Dogecoin (DOGE). The case, which sought $258 billion in damages, was dismissed on August 29 by U.S. District Judge Alvin Hellerstein in New York. The lawsuit, filed in June 2022, was brought forward by a group of Dogecoin buyers who claimed that Musk used his fame as the richest person to create what they called a “Dogecoin Pyramid Scheme.” They argued that his actions caused Dogecoin’s price to rise quickly and then drop suddenly. See Also: Dogecoin Transactions Hit New Record In…
After going to court, he was placed under judicial supervision, which has drawn a lot of attention. French prosecutors charged Pavel Durov because of his role as Telegram CEO. See Also: Arrest of Telegram CEO Wasn’t Political Says President Macron Release Conditions For Pavel Durov To be released, Pavel Durov had to pay 5 million euros (about $5.5 million) and is not allowed to leave France. Durov was first detained on August 24 at an airport near Paris. Authorities kept him in custody until August 28, when they had to either release him or officially charge him. The investigation that…
The TON blockchain, backed by Telegram, had a big problem on August 28th when it stopped making new blocks for nearly seven hours. This happened because there was too much activity on the network due to the launch of a new memecoin called DOGS. The last block created before the stop was number 39987437, but blocks started being produced again later. See Also: Toncoin Analysis Shows $10 May Come Soon How The Ton Blockchain Outage Occurred Tonk Inu, a platform on the TON blockchain, was the first to notice the issue. They reported that the launch of DOGS led to…
French President Emmanuel Macron clarified that the arrest of Telegram CEO Pavel Durov was not a political decision but part of a legal investigation. Macron posted online, saying that France values freedom of speech, communication, and business. He stressed that in a country where laws are respected, freedoms are protected to ensure the safety of people and respect their rights, both online and in everyday life. Macron’s comments followed the arrest of the Telegram CEO at Paris’ Le Bourget airport on Saturday. The arrest attracted attention, with the Russian Embassy in France accusing French authorities of not cooperating with their attempts…
The Shiba Inu team, responsible for the 13th largest cryptocurrency, is getting ready to launch a decentralized group known as a DAO. On August 25, Lucie, who handles marketing for the Shiba Inu team, shared on social media that this new DAO will let people who own the coin vote on new ideas and decisions about the project’s direction. See Also: Would Shiba Inus Price Repeat History In 2024 Why The Shiba Inu Team Introduced This DAO This DAO is an important step for Shiba Inu, giving every holder, no matter how much they own, the chance to have a say…
