Recently, Monero has been gaining significant attention on social media platforms following the announcement of LocalMonero’s closure. This sudden surge in discussions around Monero coincides with the growing government efforts to regulate privacy-focused assets. The closure of LocalMonero, a peer-to-peer exchange based on Monero, was communicated through a blog post that cited a combination of
Crypto
In the world of digital assets, investment products have been facing significant outflows for the fourth consecutive week. A total of $251 million was withdrawn from such products, marking a trend of decreasing interest in this market. Notably, newly issued ETFs in the US saw measurable outflows amounting to $156 million last week, signaling a
Hong Kong’s Bitcoin ETFs faced their first challenge since launching on April 30, with the China Asset Management Bitcoin ETF experiencing its first cumulative daily BTC outflows on Monday. This outflow amounted to $4.9 million, according to Farside data, while other Hong Kong-based products did not see any significant flows. Despite amassing $262 million in
Robinhood Markets Inc. has found itself in hot water with the Securities and Exchange Commission (SEC) as the latest crypto trading platform to receive a notice of potential legal action. The SEC disclosed a “preliminary determination” to recommend filing a lawsuit against Robinhood for alleged violations of Sections 15(a) and 17A of the Securities Exchange
The use of artificial intelligence (AI) in detecting money laundering within the realm of Bitcoin transactions has seen progress, according to the blockchain analytics company Elliptic. Collaborating with researchers from the MIT-IBM Watson AI Lab, Elliptic detailed their findings in a recent paper on leveraging deep learning models for this purpose. The successful identification of
The rise of meme coins in the crypto industry has sparked concerns among industry players like Chris Dixon from Andreessen Horowitz. Dixon questions the US regulatory system and why meme coins are thriving while other cryptocurrency companies and blockchain tokens with practical applications face regulatory hurdles. He highlights the absurdity of a system that allows
Coinbase, the leading U.S. cryptocurrency exchange, recently disclosed its Q1 2024 earnings report, revealing a total revenue of $1.6 billion, indicating a significant 72% growth from the previous quarter. The surge in performance is primarily attributed to the escalating prices of crypto assets and the introduction of spot Bitcoin ETFs in the U.S., which subsequently
Financial technology giant Block, founded by Twitter co-founder Jack Dorsey, has announced a groundbreaking decision to invest 10% of its profits generated from bitcoin-related products into monthly purchases of the digital asset. Dorsey made this announcement during a Q1 2024 earnings report, where he detailed the rationale behind this strategic move and addressed concerns from
Despite the recent correction in the cryptocurrency market that saw prices of major digital assets plummet, XRP has displayed remarkable resilience. While Bitcoin and Ethereum saw multi-month low prices, XRP only briefly dropped below $0.50 before rebounding and currently stands 3% up on a two-week scale according to CoinGecko’s data. This resilience has caught the
In the recent days, Bitcoin has seen a significant surge in its price, jumping from under $59,000 to over $63,000. This recovery comes after a series of adverse trading events that led to a two-month low of $56,500. Despite the initial slump, Bitcoin managed to bounce back and reach a multi-day peak of $63,500. Currently,
