TL;DR Breakdown Cryptocurrency markets are bracing for a significant sell-off from trading platforms Celsius and Robinhood, primarily impacting ADA, SOL, and MATIC. Robinhood is expected to liquidate all remaining holdings immediately after 6:59 PM ET on June 27th. While ADA’s exact wallet holdings are unknown, approximately $18 million of MATIC and $26 million of SOL are poised for sell-off from Robinhood. Description Investors are treading water, with anxious eyes trained on the horizon. There’s an expected sell-off that could throw the market into turbulence: ADA, SOL, and MATIC are bracing for impact. Here’s why these crypto assets have landed in the crosshairs of trading platforms Celsius and Robinhood, and what investors should anticipate in the coming days. … Read more Investors are treading water, with anxious eyes trained on the horizon. There’s an expected sell-off that could throw the market into turbulence: ADA, SOL, and MATIC are bracing for impact. Here’s why these crypto assets have landed in the crosshairs of trading platforms Celsius and Robinhood, and what investors should anticipate in the coming days. Two varieties of sell-off: Celsius…

TL;DR Breakdown Bitfinex has launched ‘Bitfinex P2P,’ a peer-to-peer platform for cryptocurrency trading in Venezuela, Argentina, and Colombia. The platform enables users to buy and sell Bitcoin, Ethereum, and Tether tokens directly with each other outside of the Bitfinex platform. Bitfinex’s expansion into Latin America aligns with its commitment to promoting financial freedom and inclusion, following previous regional investments and initiatives. Description Bitfinex, one of the first crypto, is making significant strides in Latin America with the launch of its peer-to-peer (P2P) platform, Bitfinex P2P. The platform aims to provide financial freedom and inclusion to Venezuela, Argentina, and Colombia users. By directly facilitating the buying and selling of cryptocurrencies such as Bitcoin (BTC), Ether (ETH), Tether tokens … Read more Bitfinex, one of the first crypto, is making significant strides in Latin America with the launch of its peer-to-peer (P2P) platform, Bitfinex P2P. The platform aims to provide financial freedom and inclusion to Venezuela, Argentina, and Colombia users. By directly facilitating the buying and selling of cryptocurrencies such as Bitcoin (BTC), Ether (ETH), Tether tokens (USDt and EURt), and Tether…

TL;DR Breakdown Crypto custodian Prime Trust lost access to their legacy wallets in 2021, leading to an outstanding debt of $82 million to customers. Prime Trust attempted to meet withdrawal demands from these inaccessible wallets by using other customer funds, but the efforts were in vain. The company owes $85,670,000 in fiat currency, with only $2,904,000 available, and $69,509,000 in digital currency with just $68,648,000 in hand. Description The beleaguered Bitcoin and cryptocurrency custodian, Prime Trust, grapples with the fallout from losing access to their legacy wallet system last year. Now, the company faces a formidable debt of $82 million to its clientele, shattering the trust many once placed in their secure storage capabilities. Access lost, coffers depleted Last year marked a grave … Read more The beleaguered Bitcoin and cryptocurrency custodian, Prime Trust, grapples with the fallout from losing access to their legacy wallet system last year. Now, the company faces a formidable debt of $82 million to its clientele, shattering the trust many once placed in their secure storage capabilities. Access lost, coffers depleted Last year marked a…

TL;DR Breakdown Australian banks have stood firm on their resolve to restrict crypto firms from working with them. Analysts call for collaboration between banks and crypto firms to tackle scams. Description Australia’s cryptocurrency industry faces continued banking challenges as major banks and the government maintain their stance against scams involving digital currencies. During a panel discussion at the Australian Blockchain Week on June 26, Sophie Gilder, Managing Director of Blockchain and Digital Assets at Commonwealth Bank (CBA), highlighted the bank’s restrictions on crypto exchange payments. These … Read more Australia’s cryptocurrency industry faces continued banking challenges as major banks and the government maintain their stance against scams involving digital currencies. During a panel discussion at the Australian Blockchain Week on June 26, Sophie Gilder, Managing Director of Blockchain and Digital Assets at Commonwealth Bank (CBA), highlighted the bank’s restrictions on crypto exchange payments. These measures were implemented in response to a significant rise in scams involving cryptocurrency. Australian banks bemoan an increase in crypto scams Gilder revealed that approximately one in three dollar scams in Australia is associated with cryptocurrencies,…

TL;DR Breakdown Riot Platforms have announced the purchases of new state-of-the-art mining rigs. The company recorded a drop in its share price. Description Riot Platforms, a prominent player in the Bitcoin mining industry, has recently made a significant investment to enhance its operations. The company has acquired 33,280 state-of-the-art Bitcoin mining rigs, procured from leading manufacturer MicroBT. The purchase, valued at $162.9 million, is aimed at bolstering Riot Platforms’ self-mining capacity ahead of Bitcoin’s anticipated halving cycle in … Read more Riot Platforms, a prominent player in the Bitcoin mining industry, has recently made a significant investment to enhance its operations. The company has acquired 33,280 state-of-the-art Bitcoin mining rigs, procured from leading manufacturer MicroBT. The purchase, valued at $162.9 million, is aimed at bolstering Riot Platforms’ self-mining capacity ahead of Bitcoin’s anticipated halving cycle in mid-2024. Riot Platforms splashed $163 million on the miners The new batch of miners, expected to be installed by the first quarter of 2024, will contribute an additional 7.6 exahashes per second (EH/s) to Riot Platforms’ existing mining capacity. Upon full deployment, the company’s…

TL;DR Breakdown Sui Network addresses allegations on misrepresentation on emission charts & staking reward dumping Sui will soon publish a detailed projection of the token release schedule and share the link with the users. Description Sui Network, an L1 blockchain platform, has taken to Twitter to clear the air after speculations that they deliberately misrepresented the emission chart and that the team was dumping staking rewards in the company’s native token, SUI.  Sui sets the record straight on the ongoing controversy Earlier, a DeFi expert made allegations against Sui Network … Read more Sui Network, an L1 blockchain platform, has taken to Twitter to clear the air after speculations that they deliberately misrepresented the emission chart and that the team was dumping staking rewards in the company’s native token, SUI.  Sui sets the record straight on the ongoing controversy Earlier, a DeFi expert made allegations against Sui Network for intentionally misrepresenting emissions and the team dumping rewards from staked SUI to Binance. In response, Sui has issued a statement explaining that it is gradually adding to the Sui token supply…

TL;DR Breakdown A group of celebrities, including Kendall Jenner, Kate Moss, and J Balvin, will choose the NFT digital art that will be sold to raise money for the Foundation for AIDS Research. Content makers have until July 9 to send their work through Prospect 100 to be considered. The NFT collection will be sold later, and all the money made will go toward AIDS research. Description A group of well-known celebrities has joined forces in a ground-breaking initiative that combines digital art and philanthropy to choose and display a collection of NFTs (non-fungible tokens) to support AIDS research. Through this special collaboration, the worlds of activism, entertainment, and the arts come together to provide a platform that uses celebrities’ power to … Read more A group of well-known celebrities has joined forces in a ground-breaking initiative that combines digital art and philanthropy to choose and display a collection of NFTs (non-fungible tokens) to support AIDS research. Through this special collaboration, the worlds of activism, entertainment, and the arts come together to provide a platform that uses celebrities’ power to…

TL;DR Breakdown The BoE underlying technology for the United Kingdom’s CBDC could use an alternative to blockchain technology to advance the digital pound dubbed Britcoin. Tom Mutton asserts that the privacy aspect of the CBDC will not collect personal data. European legislatures call for MiCA 2.0 – but is it necessary? Description The Bank of England (BoE) has made substantial progress with its central bank digital currency (CBDC) program. Tom Mutton, director of fintech at the Bank of England, recently discussed the privacy aspect of the CBDC and why the central bank might consider alternatives to blockchain as the underlying technology. In the interview, Mutton stated that … Read more The Bank of England (BoE) has made substantial progress with its central bank digital currency (CBDC) program. Tom Mutton, director of fintech at the Bank of England, recently discussed the privacy aspect of the CBDC and why the central bank might consider alternatives to blockchain as the underlying technology. In the interview, Mutton stated that during a recent meeting of technologists hosted by the BoE to debate the design of…

TL;DR Breakdown Crypto markets have gained bull run momentum, with Bitcoin hovering around $31K. The news that Asset management giant Fidelity is close to submitting its filing for a spot bitcoin exchange-traded fund (ETF) has fueled a crypto jump in stocks. Coinbase shares surge on the back of the BlackRock ETF filing. The implementation of the Nairobi upgrade at the start of the week puts Tezos (XTZ price) in a bullish state. Description Crypto markets have begun to show signs of a proper bull run after one of the worst crypto winters in history.  According to reports, Bitcoin has managed another attack on $31,000. This comes as traders hope for further BTC price upside in the coming days. According to CoinGecko, The global crypto market cap today sits … Read more Crypto markets have begun to show signs of a proper bull run after one of the worst crypto winters in history.  According to reports, Bitcoin has managed another attack on $31,000. This comes as traders hope for further BTC price upside in the coming days. According to CoinGecko, The…

TL;DR Breakdown Chibi Finance, an Arbitrum-based DeFi project, allegedly disappears with $1 million in customer funds. The project’s cold storage was compromised, resulting in the theft of 555 ether (ETH). The Chibi Finance team used Tornado Cash to conceal their transactions and make tracking difficult. Description The decentralized finance (DeFi) space has suffered yet another setback as Chibi Finance, an innovative project running on Arbitrum, has been accused of absconding with approximately $1 million in customer funds. This disconcerting incident is a stark reminder that extensive research and caution are vital in the DeFi domain. Leading blockchain security firm PeckShield conducted … Read more The decentralized finance (DeFi) space has suffered yet another setback as Chibi Finance, an innovative project running on Arbitrum, has been accused of absconding with approximately $1 million in customer funds. This disconcerting incident is a stark reminder that extensive research and caution are vital in the DeFi domain. Leading blockchain security firm PeckShield conducted an extensive on-chain investigation, revealing that Chibi Finance’s cold storage had been compromised, resulting in the theft of 555 ether (ETH)…