Author: James Wilson
Bitcoin and most altcoins bounced back on Friday as investors bought the dip after a report showed that consumer confidence had slumped. Ripple (XRP) price jumped by 4%, while Chainlink (LINK), Bonk (BONK), and JasmyCoin (JASMY) rose by over 5%. The rebound followed a report showing that U.S. consumer confidence crashed to its lowest level in two years. Most consumers are worried about Donald Trump’s tariffs and their potential impact on inflation. There are also concerns about ongoing job cuts by Elon Musk’s Department of Government Efficiency and their impact on the economy. As a result, consumers fear that the…
Shiba Inu’s price has crashed into a bear market this year, wiping out $12 billion as its market cap dropped to $7.4 billion. Shiba Inu (SHIB) retreat happened as Bitcoin (BTC) and other meme coins amid concerns about a potential self-inflicted recession in the U.S. There are signs that the ongoing SHIB price crash may be nearing its end. First, the amount of SHIB coins being burned has surged in recent weeks. According to ShibBurn, the burn rate jumped by over 62,000% in the last 24 hours. The surge in the burn rate was driven by a single user who…
How did a meme token backed by a world leader soar to a $1.16 billion market cap, only to crash by 95% within hours? A new report published on Friday by DWF Labs sheds light on the launch and collapse of $LIBRA. Libra (LIBRA) is a meme token on Solana that skyrocketed to a market cap of $1.16 billion within its first hour, only to lose over 95% of its value shortly after. The token’s collapse erased more than $280 million from approximately 75,000 traders, raising serious questions about insider trading and market manipulation. The incident, known as “Cryptogate,” has…
Paul Chowles, an operational officer with the UK’s National Crime Agency, has been charged with multiple offenses linked to the alleged misappropriation of Bitcoin during an investigation into online organized crime in 2017. The Crown Prosecution Service authorized Merseyside Police to charge Chowles, 42, with 11 counts of concealing, disguising, or converting criminal property, three counts of acquiring, using, or possessing criminal property, and one count of theft. He is set to appear at Liverpool Magistrates’ Court on 25 April. In a statement, Malcolm McHaffie, head of the CPS Special Crime Division, confirmed the charges and reminded the public of…
Parasol, a subsidiary of Mysten Labs and the platform that enables game developers to incorporate blockchain infrastructure into games, said in a Friday press release that CODE OF JOKER: EVOLUTIONS, the SEGA-licensed game by Jokers Incorporated, will be released on the Sui blockchain. First launched by SEGA Corporation in 2013, the CODE OF JOKER series became extremely popular with trading card game enthusiasts. With the functionality offered by Sui’s (SUI) blockchain technology, the new release will make it possible for users to experience true digital ownership, trade freely, and share collections in a decentralized environment. This marks another step towards…
Bitcoin and other cryptocurrencies have remained in a strong downtrend this year, shedding over $1 trillion in value. Bitcoin (BTC) has crashed from the year-to-date high of $109,300 to $82,000, while popular altcoins like Ethereum (ETH), Ripple (XRP), and Cardano (ADA) have had deeper dives. Crypto prices have fallen due to rising fear in the financial markets. The crypto fear and greed index has dropped to the extreme fear zone of 19. Similarly, the fear gauge tracked by CNN Money has dropped to 20. The main catalyst for this sell-off is growing concern that the United States is heading toward…
Thomas John “T.J. Stone” Sfraga was sentenced in federal court for scamming real estate and crypto investors through a business inspired by the 90s TV show Seinfeld. According to a press release from the U.S. Attorney’s Office, Sfraga was sentenced to 45 months in prison and ordered to pay nearly $1.4 million in forfeiture to the state. The restitution amount will be announced at a later date. Sfraga pleaded guilty to wire fraud charges in May 2024. He reportedly convinced multiple victims to invest in a fake crypto project called “virtual wallet.” He promised investors returns as high as 60%…
Solana’s price has come under pressure over the past two months amid growing concerns about its ecosystem. Solana (SOL) has dropped from its year-to-date high of $295.52 to a low of $112 this week, wiping out $71 billion in market value as its market cap plunged from $139 billion to $68 billion. Solana’s crash was because of the ongoing crypto crash that has brought the total market cap of the whole industry to $2.8 trillion. The price drop has also been fueled by rising concerns about Solana’s ecosystem, which has become increasingly linked to meme coins. The market cap of…
Russia is relying on crypto in its oil trade with China and India to navigate Western sanctions. While traditional currencies like the Chinese yuan and Indian rupee remain dominant, digital assets such as Bitcoin (BTC), Ethereum (ETH), and the stablecoin Tether (USDT) are being used to facilitate conversions into Russian roubles, sources told Reuters. Russia’s $192 billion oil trade has been adapting to financial restrictions since the invasion of Ukraine. Last year, the country passed a law permitting digital currency payments for international trade, but its use in the oil sector had not been previously reported. Crypto payments help streamline…
Ethereum’s vision appears to be so messy that it leaves EVM changes in limbo, says a former Ethereum Foundation engineer. Frustrated by the lack of direction and stalled progress in Ethereum’s development, a former Solidity expert and compiler engineer claims there is a “lack of a clear and cohesive vision” for Ethereum (ETH) and the Ethereum Virtual Machine, making progress in the latter “impossible.” This is why I left the Ethereum Foundation.There is a lack of a clear and cohesive vision for Ethereum and EVM, making progress in EVM impossible.I’ve seen EVM changes repeatedly shut down because they don’t check…