The newly listed cryptocurrency SEI took a substantial hit after its debut, plummeting over 65% from its peak value in just three days. The coin’s latest 13% tumble mirrored a decline in the broader crypto market in the last 24 hours. New L1 Token Plummets 65% From Record High Enter SEI, the latest entrant in…
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In the wake of financial upheavals and regulatory hurdles, Prime Trust, a digital currency custodian, has formally sought Chapter 11 bankruptcy protection. This move closely follows the appointment of John Guedry as the company’s overseer, bolstered by a designated committee to steer the restructuring process. Crypto Custodian Prime Trust Files for Chapter 11 Bankruptcy Protection…
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Hovering just above the $29,000 mark, bitcoin’s value remained relatively stable while an interesting event occurred on Saturday afternoon: a dormant cache of 195.79 bitcoins, untouched for over seven years, was transferred for the first time since 2016. This action was followed by another sequence of events; when a batch of slumbering bitcoins from 2014…
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In the latest wave of onchain mystery, enthusiasts of the crypto world have been abuzz with talks about an enigmatic address that has been annihilating millions of dollars in crypto assets, as well as blue chip non-fungible tokens (NFTs). Specifically, on July 26, 2023, this very wallet sent 2,500 ether, valued at over $4.6 million,…
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The decentralized asset management OS Velvet Capital that is driving DeFi adoption joins the Cointelegraph Accelerator program. Gone are the days when decentralized finance (DeFi) was a niche for crypto frontrunners, while centralized finance (CeFi) was the absolute owner of users’ trust. Following the collapse of major centralized organizations within the industry, such as FTX,…
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According to Latvijas Banka, 4% of the population bought crypto assets in February, down from 8% in 2022, while payments “continue to prevail.” The number of people buying crypto assets in Latvia is declining, Latvijas Banka said in its 2023 “Financial Stability Report.” The central bank attributed the falling interest in crypto to negative sentiment…
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Over the last six months, the value of an ounce of gold has witnessed a 3.8% surge in relation to the U.S. dollar. Within the realm of cryptocurrencies, there exist two noteworthy tokens backed by gold: pax gold (PAXG) and tether gold (XAUT). Together, these tokens amass a considerable worth of nearly $1 billion. Although…
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From real estate to franchising, and from renewable energy to Hollywood, tokenization has the potential to transform the way we do business. Asset tokenization has long been regarded as one of the most compelling applications of blockchain technology. Back in June 2019, the United States investment banking giant BNY Mellon declared it has the potential…
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Europe’s first bitcoin exchange-traded fund (ETF) is set to launch in July after a 12-month delay caused by the crypto winter. The fund has been authorized in Guernsey, a more flexible jurisdiction, which will ostensibly help to avoid some of the regulatory challenges associated with the European Union. Europe to Have Its First Bitcoin ETF…
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The race to build the perfect virtual ecosystem, popularly termed the metaverse is taking shape with huge technology-driven companies at the fore. However, regulators within the European Union (EU) have warned of a possible monopoly at the detriment of smaller companies that can lead to its creation without core European values. … Read More: The EU’s…
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