The Securities and Exchange Commission (SEC) has set its sights on Robinhood Markets Inc., issuing a Wells Notice to the popular crypto trading platform on May 4. The notice indicates that the SEC staff has made a preliminary determination to recommend legal action against Robinhood for alleged violations of Sections 15(a) and 17A of the
Crypto
The rise of meme coins in the cryptocurrency industry has sparked discussions about regulatory concerns. Chris Dixon, a general partner at Andreessen Horowitz (a16z), has expressed his worry about the US regulatory system. He questions the allowance for meme coins to flourish while other blockchain tokens with practical applications face regulatory hurdles due to potential
Blockchain analytics company Elliptic recently announced a groundbreaking development in the realm of leveraging artificial intelligence (AI) to detect money laundering in Bitcoin. Collaborating with researchers from the MIT-IBM Watson AI Lab, Elliptic’s researchers have made significant progress in this area. Through the utilization of a deep learning model, they were able to successfully identify
Coinbase, the leading cryptocurrency exchange in the U.S., has released its Q1 2024 earnings report, showcasing a total revenue of $1.6 billion. This represents a significant 72% increase from the previous quarter. The boost in performance can be attributed to the surging prices of various crypto assets and the introduction of spot Bitcoin ETFs in
Financial technology conglomerate Block, owned by X co-founder Jack Dorsey, has recently announced a groundbreaking decision to invest 10% of all profits made from bitcoin-related products in monthly BTC purchases. In a Q1 2024 earnings report, Dorsey articulated the rationale behind this move, addressing shareholders’ concerns about the company’s heavy focus on the largest cryptocurrency.
Amidst a general market downturn in the world of cryptocurrency, XRP has demonstrated an impressive level of resilience. While other digital assets such as Bitcoin and Ethereum experienced multi-month low prices, XRP managed to hold its ground, even showing a 3% increase on a two-week scale according to CoinGecko’s data. This has led many analysts
Bitcoin has been on a rollercoaster ride over the past week, starting with a promising pump to nearly $65,000 on Monday morning. However, the bears quickly took control, sending the price south to $62,000 and then further downward to below $60,000. The correction hit a low of $56,500 on Wednesday ahead of the US Federal
MicroStrategy recently unveiled a new Bitcoin-based strategy called “MicroStrategy Orange” during their annual MicroStrategy World conference. This strategy aims to combat online spam through an open-source decentralized identity solution built on Bitcoin. While the company’s executive chairman, Michael Saylor, describes it as an “enterprise-grade platform for implementing Decentralized Digital Identifiers (DIDs),” there has been skepticism
The cryptocurrency market is currently experiencing a turbulent period, characterized by a significant pullback. This cycle has been heavily influenced by the mania surrounding meme coins and the hype surrounding spot Bitcoin ETFs. Economist and trader, Alex Krüger, recently shared his observations on this unusual market cycle, highlighting the dominance of meme coins and the
The meme coin sector has been experiencing substantial losses recently, with their combined market capitalization dropping below the $50 billion mark. Among the meme coins facing a significant decline is Dogecoin (DOGE), which has seen a 15% weekly price drop. However, there are indications that these meme coins may be on the verge of a
In recent weeks, the cryptocurrency sector has experienced a significant correction, with the global market capitalization dropping to around $2.2 billion. Bitcoin’s price has also taken a hit, falling below $57,000 for the first time since late February. Popular altcoins like Solana, Dogecoin, and Shiba Inu have seen double-digit declines on a daily basis. Despite
The cryptocurrency market has been experiencing dire conditions in the past few days, with Bitcoin plummeting to a multi-month low of around $57,000. The downward trend started when Bitcoin attempted to break above $65,000 but failed to sustain its momentum. This led to a series of price drops, with the primary cryptocurrency hitting a two-month
Ripple made waves on April 30 with the announcement of a strategic partnership with HashKey Group, a move that solidified its ongoing collaboration with financial powerhouse SBI Group. This partnership, centered around HashKey DX, a specialized consulting company based in Tokyo, is set to revolutionize the Japanese market by introducing XRP Ledger (XRPL) enterprise solutions.
A recent griefing attack on the Bitcoin testnet caused a significant surge in network activity, resulting in the generation of an unprecedented number of blocks in a very short period of time. The attack, attributed to Jameson Lopp, co-founder and Chief Security Officer of Casa, drew mixed reactions from the Bitcoin community. Lopp described the