In the latest Crypto Wealth Report 2024 by Henley & Partners, it was revealed that the number of individuals holding over $1 million in digital assets has surged by 95% to 172,300. This increase comes amidst a significant growth in the crypto market, with its total value reaching $2.3 trillion, marking an 89% rise from
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The crypto space suffered a staggering $313 million in losses last month, with over ten different hacks wreaking havoc on the industry. However, it was two large phishing attacks that took the lion’s share of the stolen funds, accounting for 93.5% of the total losses. According to a report by blockchain security firm PeckShield, these
Bitcoin mining revenue suffered a significant blow in August, marking its worst month in nearly a year. According to data from Bitbo, BTC mining activities only managed to secure $827 million, a sharp decline of over 10% from July’s earnings of $927.35 million. This decrease is even more pronounced when compared to the high point
Last week, the digital asset investment product market experienced a significant outflow of $305 million. CoinShares pointed to this negative sentiment as being widespread among various providers and regions. The reasoning behind this abrupt change in sentiment was attributed to the release of stronger-than-expected economic data from the United States. This data lessened the chances
Yuga Labs, the brains behind the popular Bored Ape Yacht Club, has recently unveiled a groundbreaking initiative known as “The Workshop.” The brainchild of co-founder and current CEO Greg Solano, The Workshop is set to revolutionize the way Yuga Labs approaches product development. Described as a team of “no fat, just doers,” The Workshop’s primary
Cardano recently completed its Chang upgrade, a significant milestone that marked the transition to a decentralized governance system. This upgrade, named after Chinese mathematician Ch’ang Shou, introduces key changes that will shape the future direction of the Cardano network. The Chang upgrade brings decentralization to Cardano’s governance by enabling on-chain voting. ADA holders now have
Bitcoin’s recent price actions have taken a turn for the worse, with the asset slumping to a 2-week low of $57,100. This marks a significant drop from its recent peak of over $65,100 just a week ago. Despite briefly recovering to $61,000, bitcoin has struggled to maintain its momentum and has since dropped below $58,000
OKX SG, a crypto exchange based in Singapore, recently announced that it has secured a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS). This license is highly coveted in Singapore because it allows businesses to operate without daily or monthly transaction limits. To qualify for the license, companies must meet certain
The recent arrest of a London resident for operating a Bitcoin ATM without proper registration has raised concerns about the risks associated with unregulated cryptocurrency transactions in the UK. This unprecedented case sheds light on the potential consequences of disregarding regulatory requirements in the crypto sector. Habibur Rahman, 37, was arrested following a raid at
The payments industry has witnessed significant growth over the last five decades, becoming one of the largest and fastest-growing sectors globally. However, a critical issue plagues the sector – it still relies on outdated technology rails that become increasingly inefficient over time. According to a report from Binance Research, blockchains, distributed ledger technology (DLT), and
