New revelations from former Alameda Research CEO Caroline Ellison surfaced today regarding the crypto hedge fund’s financial relationship with FTX prior to the exchange’s collapse. Speaking to Alameda staff in Hong Kong last November, Ellison acknowledged the firm borrowed large sums from FTX customer accounts to fund its investments, according to an audio recording obtained…
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In just five days, liquid staking platforms saw a surge of 370,000 ether in their ethereum holdings, breaching the 12 million ETH mark—rising from 11.94 million to a notable 12.31 million. Interestingly, Binance’s liquid staking token, WBETH, was the powerhouse behind this growth, accounting for over 86% of this week’s increase, swelling by 318,605 ether…
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As cryptocurrencies continue to evolve, two key consensus mechanisms have emerged for validating transactions on the blockchain: proof-of-work (PoW) and proof-of-stake (PoS). This explainer will examine how these protocols differ and the unique benefits and drawbacks of each. Consensus Mechanisms in Cryptocurrency Proof-of-work (PoW), first introduced by Bitcoin in 2009, requires miners to compete to…
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After becoming the recipient of the largest accidental transaction fee in Bitcoin history last week, the F2Pool mining pool showed integrity by returning the 19.82108632 bitcoin, valued at around $510,000, to the Paxos exchange. On Sunday, September 10, Paxos attempted to transfer 0.074 bitcoin, worth around $2,000. However, due to a bug, the transaction fee…
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Over 20 days, 640,000 ETH valued at just over $1 billion was added to liquid staking derivatives platforms. Additionally, the amount of ether staked in such protocols is approaching 12 million, with 11.97 million total value locked (TVL) as of September 15, 2023. Ethereum Staking Platforms Race to 12M Ether With $1B Boost Ethereum-based liquid…
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Major cryptocurrencies saw declines on Monday following an announcement by bankrupt crypto exchange FTX detailing its holdings as of August 31. Bitcoin fell to lows around $25,000, while Ethereum dropped below $1,560 in trading on Monday. Other major cryptocurrencies like Binance Coin and XRP also saw drops of 3.57% and 5.87% respectively. In response to…
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Bitcoin Cash (BCH) has been treading a downward path since its brief surge in August. After an 18% leap on August 29, BCH has been unable to keep the rhythm, falling below significant EMAs and retreating back to the trading range it has seen since August 17. BCH’s 20-day EMA is currently $199.5, a beat…
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Two leading exchange-traded fund (ETF) providers have set their sights on launching the first spot Ethereum ETF in the U.S. after continued delays from regulators on approving a spot Bitcoin ETF. ARK Invest and asset manager VanEck filed proposals with the Securities and Exchange Commission (SEC) for Ethereum ETFs that would trade on CBOE Global…
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Pepe the Frog has inspired yet another meme token, as unknown developers unveiled Dork Lord (DORKL) Wednesday shortly after Pepe creator Matt Furie tweeted some Star Wars-themed artwork featuring the iconic amphibian character. Listed anonymously on Uniswap, DORKL pays homage to Furie’s Pepe though the artist does not appear to be formally involved with the…
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Investment manager Grayscale is urging the Securities and Exchange Commission (SEC) to expedite the conversion of the Grayscale Bitcoin Trust (GBTC) into a Bitcoin exchange-traded fund (ETF). This comes on the heels of Grayscale’s major court victory over the SEC last week. Given the latest updates on a potential Bitcoin ETF approval, what are the…
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