The team behind exploited decentralized finance (DeFi) app Jimbos Protocol has offered a deal to the app’s exploiter: Keep 10% of the funds and return the other 90%, or face prosecution. Otherwise, the team “won’t stop” until the attacker is “behind bars.” The proposed deal was disclosed in a May 28 tweet by the Jimbos
Some of the most sought-after nonfungible tokens (NFTs) of 2022 have taken a massive hit in value over the past year. The trend mirrors the depreciating value of metaverse properties in 2023, which were considered top virtual lands for investment in 2022. Investments in top NFT projects, including Doodles, Invisible Friends, Moonbirds and Goblintown, have
Bitcoin and the S&P 500 Index (SPX) recovered from their respective intra-week lows to finish last week on a positive note. The recovery was largely driven by the expectations of a debt ceiling deal being reached between the White House and congressional Republicans. While the short-term picture looks promising, traders should not let their guard down.
More than 386 million Optimism (OP) tokens — worth $587 million at current prices — are scheduled to be unlocked on May 31 as the initial vesting period for early contributors and investors comes to an end, prompting concerns about downward price pressure. The May 31 OP unlock is one of the largest scheduled unlocking
A tentative deal aimed at stopping the United States government from defaulting on its debts would likely eliminate a proposed tax on the energy usage of cryptocurrency miners, according to Ohio Rep. Warren Davidson. On May 28, U.S. lawmakers released a draft of a bill allowing the government to increase the debt ceiling — an
The race to snatch up Hong Kong retail crypto traders is about to kick off, with several cryptocurrency companies announcing plans to apply for a license come June 1. On May 29, the Hong Kong-based crypto exchange CoinEx became the latest to signal its entry to the city, saying it’s launching a local platform called BitHK,
Cryptocurrency exchanges in Japan are preparing for the enforcement of the Financial Action Task Force’s Anti-Money Laundering (AML) regulations known as the Travel Rule. Major Japanese crypto exchange bitFlyer on May 30 announced the adoption of measures in response to the enforcement of stricter AML measures targeting crypto transactions in Japan. bitFlyer has introduced restrictions
Almost 25,000 investors have signed up to trade alongside ChatGPT as they follow the GPT Portfolio experiment from copy trading firm Autopilot. The traders have bet a combined $14.7 million on the AI’s stock picks, which would average about $600 each if they all invested after signing up. They’re hoping to take even a small
Bitcoin (BTC) traded near $28,000 on May 28, with traders still wary of a full correction of weekend upside. BTC/USD 1-hour candle chart on Bitstamp. Source: TradingView BTC shorts increase as $28,000 slips Data from Cointelegraph Markets Pro and TradingView showed BTC/USD cooling volatility after a last-minute surprise saw action around the weekly close. With
An Ether (ETH) wallet that has been inactive since Ethereum’s ICO (Initial Coin Offering) in 2015, has suddenly awoken after eight years of dormancy, moving a total of 8,000 ETH in just two minutes. The wallet received the 8,000 ETH after participating in Ethereum’s ICO (Initial Coin Offering) in 2015 and remained inactive until May 27.
Former Bitmex CEO Arthur Hayes is expecting to see significant Bitcoin volatility in the latter half of the year, caused by a “powder keg” explosion from the United States banking crisis and soaring national debt. Hayes, who currently runs a crypto-focused investment fund Maelstrom, spoke on the What Bitcoin Did podcast on May 26, making a
A New York attorney has been blasted for using ChatGPT for legal research as part of a lawsuit against a Columbian airline. Steven Schwartz, an attorney with New York law firm Levidow, Levidow & Oberman, was engaged by Robert Mata to pursue an injury claim against Avianca Airlines. Mata claims he sustained the injury from
The market dominance of stablecoins pegged to the United States dollar has undergone some changes over the past year. While most of them are in a downward trend, Tether (USDT) has climbed back to its all-time high, data from CoinGecko shows. In the past 12 months, Circle’s USD Coin (USDC) has seen its market share
With its historic Merge event in September, Ethereum has become a proof-of-stake blockchain. The mechanism now used to confirm transactions relies on validators staking their Ether (ETH). Ethereum’s March upgrade, codenamed Shanghai, finally enabled stakers to withdraw their locked Ether. The Ethereum ecosystem’s “investment themes” have included a) decentralized finance (DeFi) b) stablecoins c) Bitcoin
The United States looks to avoid a catastrophic debt default after the White House and the House Republicans agreed upon a tentative deal on May 27. The U.S. equities markets rallied in anticipation of the deal on May 26 and the positive sentiment has rubbed off onto the cryptocurrency sector, which is attempting a recovery.
Crypto insurance providers spend enormous amounts of time judging whether to provide coverage to a crypto company, and almost none of them offer assurances to individuals, insurance and crypto executives told Cointelegraph. Last year saw $3.9 billion stolen from crypto companies, decentralized finance platforms and users, a massive 22% rise from the prior year —