Magic Eden, a popular non-fungible token (NFT) marketplace, has announced that it has temporarily suspended the trading of BRC-20 assets on its platform. BRC-20 is a new token standard that uses ordinal inscription to create fungible tokens on the Bitcoin blockchain.
Author: jose
Tether, the issuer of the world’s largest stablecoin (USDT), is planning to introduce real-time reserve data reporting by 2024. This action is a direct result of the continuous need for clarity regarding Tether’s reserves, a critical factor in ensuring the stablecoin’s credibility. Currently, Tether updates its reserve data daily and issues monthly and quarterly reports.
A new report from Matrixport, a crypto financial services platform, suggests that the approval of a Bitcoin exchange-traded fund (ETF) by BlackRock, the world’s largest asset manager, could have a significant impact on the price of Bitcoin.
The Fantom Foundation, developers of the Fantom network, have reportedly been hacked, with over $6.7 million worth of cryptocurrency stolen. The attack was carried out by an account labeled “Fake_Phishing188024”, which received over 2,000 Convex (CVX) tokens and other cryptocurrencies from a known Fantom Foundation wallet.
Justin Sun, the CEO of Tron and a controversial figure in the crypto space, is facing allegations of wash trading on two of his exchanges, Poloniex and HTX. Wash trading is a practice of artificially inflating trading volumes by buying and selling the same asset repeatedly. This can create a false impression of market activity and liquidity, and potentially manipulate prices.
Bitcoin’s price has been under scrutiny as it clings to the key $26,800 mark. This comes as the United States inflation data continues to exceed expectations. The September print of the Consumer Price Index (CPI) bolstered this trend, coming in at 3.7% year-on-year versus the 3.6% that was expected. Despite these figures, Bitcoin’s price has remained relatively stable.
In a significant development for the world of cryptocurrencies, a new proposal has been put forth to bring more expressive off-chain smart contracts to Bitcoin. The proposal, titled “BitVM: Compute Anything on Bitcoin”, was announced in a white paper by ZeroSync’s project lead, Robin Linus.
The price of Ethereum (ETH), the second-largest cryptocurrency by market capitalization, fell by more than 2.90% on Monday after the Ethereum Foundation, a non-profit organization that supports the development of the Ethereum network, swapped over 1,700 ETH for $2.7 million in USDC on the Uniswap decentralized exchange.
The Hong Kong police have arrested seven more suspects and seized another luxury car in connection with the JPEX crypto fraud scandal, which has allegedly caused losses of over $204 million to investors.
Kraken, one of the largest and oldest cryptocurrency exchanges in the world, has announced its intention to acquire BCM, a Dutch crypto broker that offers trading and staking services for over 170 digital assets.