Author: Reza Ali

Grayscale Challenges SEC, Aims for Bitcoin ETF Approval, Highlighting Market Fairness and Legal Victory as Key Milestones In a bold move that could pave the way for a major shift in the cryptocurrency landscape, Grayscale, the prominent asset manager, has informed the Securities and Exchange Commission (SEC) that it sees no legitimate grounds to obstruct the transformation of its flagship Bitcoin fund into a spot exchange-traded fund (ETF). Grayscale’s legal experts dispatched an impactful message to the SEC on 5 September, calling for a meeting to address the aftermath of the recent GBTC conversion challenge in court. This move underscores…

Dogecoin community rallies behind Musk & X in free speech battle against ADL, sparking a 1.46% DOGE price recovery In a surprising turn of events, the Dogecoin community has thrown its full support behind Elon Musk and X (formerly Twitter) in their ongoing battle against the Anti-Defamation League (ADL). Musk, a prominent Dogecoin advocate, had previously blamed the ADL for stifling advertising revenue due to pressure exerted on advertisers by the international Jewish non-governmental organization. He has even hinted at possibly a defamation lawsuit against the ADL. Prominent figures within the Dogecoin community, including Dogecoin co-founder Billy Markus (known as…

Solana’s Compressed NFTs Shatter Records with 15.6 Million August Mintings, While U.S. Regulators Take First NFT Enforcement Action In an impressive demonstration of Solana’s dominance in the NFT sphere, the blockchain’s ultra-affordable Compressed NFTs achieved a groundbreaking milestone by minting an astonishing 15.6 million tokens throughout August. Renowned Chinese crypto journalist platform Wu Blockchain highlighted this remarkable achievement in a recent Twitter update. This surge in minting activity represents an unprecedented peak for SOL’s Compressed NFTs, a revolutionary feature engineered to substantially cut down the expenses of generating NFTs on the Solana blockchain, accomplished by compressing the data linked to…

A massive XRP transfer from Binance to an undisclosed wallet sparks market speculation amidst Ripple’s legal battles and stagnant XRP price In a startling turn of events, a seismic transfer of Ripple’s XRP has reverberated throughout the cryptocurrency sphere, leaving analysts and enthusiasts abuzz. The cryptocurrency tracking platform Whale Alert has brought a substantial movement of 66,666,659 XRP tokens, equivalent to a staggering $33,065,809, from the crypto behemoth Binance to an undisclosed wallet. This colossal transaction has ignited speculation regarding its potential ramifications for XRP’s price trajectory. This significant transfer represents a single aspect of the wider XRP ecosystem’s intricate…

The saga of Luna Classic (LUNC), a remarkable digital currency in the Terra system, has been a rollercoaster ride for the cryptocurrency community. In April 2022, its value skyrocketed to nearly $120, plummeting to less than $1 within a month. The journey has been marked by dramatic fluctuations in value, brought on by obstacles within the Terra system, which have surprised even the most seasoned digital currency enthusiasts. Navigating Terra’s Determination In the face of adversity, the team remains steadfast and determined. A glimmer of hope emerges for Luna Classic to regain its value. The prospects for this revival depend…

Stay ahead of scammers aiming to steal cryptocurrencies from unsuspecting users by tapping into the constantly evolving strategies they employ. The world of cryptocurrencies proves especially enticing to these fraudsters due to its decentralized structure, devoid of singular ownership or authoritative control. This absence of traditional overseeing bodies like banks creates a haven for illicit activities, exacerbated by the irreversible nature of crypto transactions. To put this into context, the span from January 2021 to June 2022 witnessed a staggering sum of over $1 billion in crypto losses to diverse scams, as reported to the Federal Trade Commission (FTC) by…

Bitstamp Spotlights Shiba Inu’s Resurgence with Plans for Shibarium’s Public Relaunch Following Initial Setback In a remarkable revelation, prominent cryptocurrency exchange Bitstamp has thrust a crucial development related to Shiba Inu into the limelight, ranking it among the most significant weekly crypto trends. A tweet from Bitstamp yesterday brought attention to the ongoing efforts of the Shiba Inu team to reintroduce Shibarium for public utilization following a technical setback encountered by the blockchain project. Eclipsing all other crypto discussions this week, Bitstamp’s focus on Shibarium’s imminent revival has captured the industry’s attention. Apart from the impending relaunch of Shibarium, Bitstamp…

Devastating Exit Scam, Magnate Finance’s $6.5M Loss on Coinbase’s Layer 2 Shakes Crypto Trust, Revealing Ties to Solfire Scam In a shocking turn of events, the cryptocurrency world is reeling again. Magnate Finance, a once-promising lending protocol on Coinbase’s new Layer 2 network, has executed a devastating exit scam. The repercussions of this deceitful maneuver are profound, resulting in an eye-watering loss of approximately $6.5 million. The ordeal comes from a recent $23 million liquidity drain orchestrated by the Bald deployer, signifying a grim period for the crypto space. Security platform PeckShield, renowned for its vigilance, has disclosed that the…

Bitcoin’s Price Rollercoaster, Whale Accumulation, Regulatory Impact: Volatile Trends Amid Exchange Reserve Shifts and Optimism. In a rapid twist, the price of Bitcoin, which exhibited recovery indications earlier this week around August 23, has swiftly retraced, once again retracting and moving perilously closer to the $26,000 level. Despite the prevailing bearish sentiment encircling the crypto sphere, positivity materializes from on-chain metrics, giving investors hope. An intriguing twist lies in the realm of BTC supply dynamics. Recent data reveals a striking development: the supply of Bitcoin held within exchanges has dwindled to its lowest point in six years. A mere 5.8%…

A Staggering 4.6 Trillion Shiba inu Tokens in Mystery Transfer, Shibarium Prepares for Relaunch and Burning Rates Skyrocket In a stunning crypto spectacle, a colossal 4.6 trillion Shiba Inu (SHIB) tokens have embarked on an enigmatic journey from an undisclosed wallet to another elusive destination. Whale Alert a renowned whale tracking service, unveiled the extraordinary transaction, which made this revelation today that will undoubtedly echo through the crypto-sphere. But that’s not all that’s been stirring in the Shiba Inu universe. The highly anticipated L2 Shibarium mainnet, masterminded by none other than the enigmatic lead developer, Shytoshi Kusama, has been operating…