Ethereum trumps Mcdonald’s in market value amid $11M liquidations
Even amidst significant liquidations, Ethereum has managed to surpass McDonald’s Corporation (NYSE: MCD) in market valuation. Ethereum’s price has been on a steady decline, however, it remains valued higher than McDonald’s. The cryptocurrency’s value fell from a high of $1751 to $1606 within a day. Due to the volatile nature of the Ether market, several […]
Ethereum becoming more centralized post-merge and shanghai upgrades, warns JPMorgan
The Merge and Shanghai upgrades have led to increased centralization in Ethereum, according to a report by JPMorgan (JPM), raising concerns over the network’s decentralization principle. In a report by JPMorgan on Thursday, the surge in ether (ETH) staking following the upgrades has made Ethereum more centralized, while also reducing the overall staking yield. Analysts […]
“I Think They’re Crazy”: Michael Lewis responds back at critics of his new book “Going Infinite”
Author Michael Lewis is pushing back against critics who accuse him of being overly sympathetic to crypto tycoon Sam Bankman-Fried in his latest book. In an interview with ABC News on Wednesday, Lewis contends that these criticisms are misguided, stating “I think they’re crazy.” “There are two sides to this story — the defense’s perspective […]
Bitcoin at risk of short-term downfall while Ether ETFs fail to impress
Bitcoin (BTC) may be facing a possible short-term reversal, following recent price increases. Ether (ETH) futures exchange-traded funds (ETFs) have also been underperforming, adding to the gloom in the crypto market. According to a CoinDesk report on Thursday, FxPro senior market analyst Alex Kuptsikevich warned, “Bitcoin continues to tend to sell on growth, failing to […]
FTX co-founder Gary Wang accuses Sam Bankman-Fried of financial crimes
Gary Wang, co-founder of cryptocurrency exchange FTX, has accused Sam Bankman-Fried, another co-founder, of committing financial crimes on Thursday. Wang, the fourth witness summoned by the U.S. Department of Justice in Bankman-Fried’s trial, alleged that he, along with Bankman-Fried, Caroline Ellison, and Nishad Singh, were involved in wire fraud, securities fraud, and commodities fraud. Ellison […]
Bitcoin triumphs over US Dollar in battle against ‘Eggflation’: Federal Reserve data
The U.S. Federal Reserve has unintentionally admitted that Bitcoin (BTC) is outperforming the U.S. dollar in curbing inflation, according to a revelation that comes from a Fed blog post discussing Bitcoin’s purchasing power. The blog, first published in June 2022 and subsequently updated, compares the price of a dozen eggs bought with BTC and dollars. […]
$33 million worth of Shiba Inu (SHIB) transfer by whale trader stirs crypto world
A colossal transfer of Shiba Inu (SHIB) tokens has been carried out by a deep-pocketed trader, sparking intrigue in the crypto community. As data from whale-surveying platform Whale Alert reveals, a so-called Shiba Inu ‘whale’ has abruptly shifted an astronomical 4,584,530,677,374 SHIB tokens, approximating to $33 million. This massive amount was moved out of Bitvavo, […]
Twelve jurors selected to decide the fate of former FTX CEO Sam Bankman-Fried
The future of Sam Bankman-Fried, ex-CEO of FTX, now rests in the hands of twelve jurors chosen to preside over his fraud trial. A group of 45 candidates was narrowed down to just 12 jurors. This was after they shared details surrounding their background, occupation, education, and personal life. Among the selected are a pregnant […]
Presidential candidate Kennedy Jr. to review Silkroad founder’s case and Pardon Assange, Snowden if Elected
Democratic Presidential candidate Robert F. Kennedy Jr. has pledged to review the case of Silkroad’s founder, Ross Ulbricht, if elected. Kennedy Jr. also indicated plans to pardon Julian Assange and Edward Snowden on his first day in office. According to an interview with Bitcoin Magazine on Wednesday, Kennedy Jr. expressed concern about the fairness of […]
Bitcoin drama gets a soundtrack: Mann’s new song declares ‘Craig Wright is not satoshi’
Jonathan Mann, the “Song-a-Day” artist, recently released a single titled “Craig Wright Is Not Satoshi,” inspired by the long-standing controversy over the true identity of Bitcoin’s creator. Australian computer scientist Craig Wright has been striving, albeit unsuccessfully, to establish himself as Satoshi Nakamoto, the pseudonymous inventor of Bitcoin. This contentious claim has now been turned […]