After a significant market crash that saw Ethereum plummet by 23% in less than 24 hours, U.S. spot Ethereum ETFs experienced a surge in inflows. On August 5, nine newly launched spot ETH ETFs recorded an aggregate inflow of $49 million. This marked the second-highest inflow day since the funds began trading, indicating a strong
Crypto
Senator Cynthia Lummis recently introduced the groundbreaking Bitcoin Act as a strategic move to bolster the U.S. economy. This move has been likened to the historic Louisiana Purchase, signifying the magnitude of its impact on the nation’s financial landscape. The proposed legislation aims to acquire 1 million BTC over five years, amounting to approximately $64
In the latest financial report, Riot Platforms revealed a significant increase in net losses, jumping from $27.4 million in the previous year to $84.4 million in the second quarter of this year. The decline in revenue was also evident, dropping from $76.7 million to $70 million in the same quarter. The decrease in revenue was
In July, the total stablecoin market capitalization showed a 2.11% increase, reaching a total of $164 billion. This growth signifies a ten-month consecutive rise for major stablecoins, with their market dominance expanding to 6.93%. Tether, the largest stablecoin in terms of market cap, experienced a 1.61% increase, reaching $116 billion and setting a new all-time
Marathon Digital (MARA) recently faced a setback as its second-quarter revenue fell short of Wall Street’s forecasts, leading to an 8% drop in its shares during after-hours trading. The company reported a revenue of $145.1 million, which was approximately 9% lower than the expected $157.9 million. The CEO, Fred Thiel, attributed this miss to various
The cryptocurrency market saw a significant downturn this past week, with Bitcoin dropping by an alarming $10,000 within a short period. While there are various factors at play, many of them seem to have a connection to the United States. The week started off on a positive note, as Bitcoin’s price surged by $3,000 on
The recent price situation of Bitcoin has taken a turn for the worse as the cryptocurrency plummeted to under $60,000 for the first time in several weeks. This steep drop has sent shockwaves throughout the entire crypto market, causing significant volatility and panic among investors. The impact of Bitcoin’s decline has been felt even more
Nader Al-Naji, the founder of BitClout, a social media platform, has recently come under fire by the US Securities and Exchange Commission (SEC) and the Department of Justice (DOJ). Both regulatory bodies have charged Al-Naji with orchestrating a multi-million-dollar fraudulent crypto asset scheme involving BitClout’s native token BTCLT. The SEC’s complaint alleges that Al-Naji raised
California’s Department of Motor Vehicles (DMV) has taken a significant step towards modernizing its operations by digitizing 42 million car titles through the Avalanche (AVAX) network. This collaboration with Oxhead Alpha aims to streamline the state’s title transfer process, making it more efficient and transparent for users. The initiative will soon allow residents to claim
Recently, on-chain investigator ZachXBT brought to light evidence linking convicted UK hacker Gurvinder Bhangu, also known as Gurv, to the compromising of American actress Sydney Sweeney’s and ‘Breaking Bad’ actor Bob Odenkirk’s X accounts. These hacks resulted in over $530,000 being stolen through Solana meme coin scams. On July 2nd, Sydney Sweeney fell victim to
