Decentralized social media platform Friend.tech based on Coinbase’s layer-2 protocol Base has touched new heights in terms of revenue growth and total value locked on its platform. According to data from Dune Analytics, Friend.tech revenue has surged to 10,663 ETH and its TVL grew to over 30,000 ETH on Oct. 2. The recent boom in
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United States-based cryptocurrency exchange Coinbase is expanding operations in Singapore after securing major regulatory approval from the country’s central bank. Coinbase has obtained a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS), the firm announced on Oct. 1. The new license — coming one year after Coinbase’s initial in-principle approval in
Bitcoin (BTC) starts a new week, a new month and a new quarter with a firm bullish move past $28,000. The largest cryptocurrency greets “Uptober” in style with its best weekly close since mid-August — what lies in store next? After mixed BTC price action in September, market participants were prepared for a potentially volatile
Effective altruism was used to justify “increasingly risky and ridiculous” actions at crypto exchange FTX prior to its ultimate collapse in November 2022, says a former software engineer at Alameda Research. Speaking to Cointelegraph just days before FTX founder Sam Bankman-Fried’s Oct. 3 trial, Aditya Baradwaj shared how the ideology played a role in the
Former FTX CEO Sam Bankman-Fried once looked into paying Donald Trump not to run for United States president, according to Michael Lewis, the author of a new book documenting the rise and fall of SBF. Michael Lewis, author of “Going Infinite: The Rise and Fall of a New Tycoon,” spoke about the former crypto billionaire and
More than $70 million in crypto shorts were suddenly liquidated after a surprise jump in the price of Bitcoin (BTC), Ethereum (ETH) and other cryptocurrencies on Oct. 1. According to data from TradingView, the sudden pump saw Bitcoin surge 3% in just 15 minutes from $27,100 to $28,053 before settling down just below the $28,000
After rising about 80% in the first two quarters of 2023, Bitcoin (BTC) fell roughly 11% in the third quarter ending September. However, there is a silver lining for the bulls because they managed a positive monthly close in September, the first since 2016. Buyers will try to build upon this momentum in October, which
According to recent information from Spot On Chain, an address linked to the FTX exploit identified as 0x3e9, has conducted transfers exceeding 10,000 Ether (ETH), worth roughly $17 million, across five different addresses since Sept. 30. The addresses had remained inactive for several months before the recent activity. A significant portion of the 7,749 ETH,
The Department of Justice (DOJ) has affirmed its plan to summon former FTX clients, investors, and staff as witnesses in the upcoming trial involving Sam Bankman-Fried, the former FTX executive. This will shed light on how these individuals viewed their interactions with Bankman-Fried and his company. The DOJ submitted a letter motion in limine on
Vitalik Buterin, the co-founder of Ethereum, has expressed worries regarding decentralized autonomous organizations (DAOs) exerting a monopoly over the selection of node operators in liquidity staking pools. In a September 30 blog post, Buterin issues a warning that as staking pools adopt the DAO approach for governance over node operators—who are ultimately responsible for the
The United States Securities and Exchange Commission (SEC) has commenced legal proceedings against an accounting firm that had provided services to cryptocurrency exchange FTX prior to its bankruptcy declaration. According to a September 29 statement, the SEC alleged that Prager Metis provided auditing services to its clients without maintaining the necessary independence, as it continued
Top Stories This Week Ethereum futures ETFs to start trading next week Investment firm Valkyrie will start offering exposure to Ether futures in the coming days. On Sept. 28, the firm told Cointelegraph that its Bitcoin Strategy ETF will allow investors access to Ether and Bitcoin futures “under one wrapper,” making it one of the
Some 5,000 ETH, worth over $8.2 million, have been moved from a wallet address associated with the FTX hacker. This development marks the first time assets have been transferred out of the hacker’s wallet following the exploit about a year ago. FTX Hacker Moves 5,000 ETH, Spot On Chain Reveals Marked as one the biggest
Global asset manager VanEck will donate 10% of all profits from its upcoming Ether futures exchange-traded fund (ETF) to Ethereum core developers for ten years, the company announced on X (formerly Twitter) on Sept. 29. The beneficiary will be The Protocol Guild, a group of over 150 developers maintaining Ethereum’s core technology. According to VanEck,
Aside from liquidity, what do institutions bring to crypto? What precisely is their value added? This is an instructive question to ponder, because there is little consensus on what deeper institutional participation means for an industry that is riven with contradictions. The long-running wait for Bitcoin ETF approval, giving pensions and funds exposure to BTC,
Asset management firm Valkyrie, one of the frontrunners for the first Ethereum ETF (exchange-traded fund) in the United States, has decided to pause its purchase of Ether futures contracts until the US Securities and Exchange Commission approves an Ether futures ETF. This comes barely a day after the asset manager reportedly secured approval to offer
Bitcoin (BTC) bulls lost their grip on $27,000 into Sep. 30 as the monthly and quarterly close loomed large. BTC/USD 1-hour chart. Source: TradingView Bitcoin braces for three key candle closes Data from Cointelegraph Markets Pro and TradingView tracked a cooling off for BTC price action ahead of the key September candle print. The largest
Venture capital firm Paradigm has criticized the United States Securities and Exchange Commission (SEC) for bypassing the standard rulemaking procedures in its current legal action against the cryptocurrency exchange Binance. In a statement released on Friday, Sept. 29, Paradigm stated the SEC is attempting to use the allegations in its complaint to alter the law
The lawyer representing Sam Bankman-Fried, the former CEO of the now-defunct exchange FTX, has claimed that the proposed jury questions for the upcoming fraud trial might have the potential to elicit biased responses. In a court filing on September 29, lawyer Mark Cohen, representing Bankman-Fried, contends that the jury questions presented by the US government
The Pond0X decentralized exchange (DEX) has reached more than $100 million in total trading volume, according to a September 28 social media post from its official channel. Investors previously lost over $2 million in the launch of the exchange’s native token, PNDX, when the coin turned out to have a transfer function that allowed anyone
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