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Latest Crypto News

By NewsDesk8

Bitcoin and Ether fell during Asian trading hours on Friday!

On Friday, most of the top 10 non-stablecoin cryptocurrencies by market capitalization, including Bitcoin and Ether, dropped in value during Asian trading hours, with Binance’s BNB sustaining the biggest loss. Despite Wall Street’s overnight performance, most Asian equities strengthened. This came as investor worries of a banking crisis resurfaced after U.S. Treasury Secretary Janet Yellen stated that the government is not looking into providing  “blanket insurance” for bank deposits.


Ethereum’s DRPC Network Aims to Mitigate Centralization Risks Ahead of Shanghai Upgrade!

On Thursday, DRPC, a decentralized RPC (remote procedure call) network, was launched in order to reduce the degree of centralization in the Ethereum network. RPC (Remote Procedure Call) is a protocol utilized by decentralized applications (dApps) to communicate and exchange data, including transaction information, between blockchains and other systems.


U.S. Prosecutors Bring Criminal Fraud Charges Against Do Kwon!

Hours after Do Kwon, the founder of Terraform Labs, was arrested by police in Montenegro, federal prosecutors in New York brought charges of fraud against him. Kwon, who had been missing for months, is now being investigated in South Korea and is on an Interpol wanted list in relation to the TerraUSD collapse in the previous year. This February, the U.S. Securities and Exchange Commission charged Kwon with civil charges, claiming that he had deceived investors.


Potential CBDC Transformation of Global Economy Could Endanger Bank Profits!

Moody’s Investor Service stated in a report dated March 21st that while emerging central bank digital currency (CBDC) cross-border transaction technology could revolutionize the global economy by offering faster, cheaper, and more secure services, banks may not benefit as much from this new economy.


Bitcoin Steadily Above $28K, Ether Climbs After Interest Rate Increase!

On Thursday, Bitcoin (BTC) was trading above the $28,000 mark, despite the U.S. Federal Reserve’s 25-basis point rate increase as well as worries about the banking industry and future monetary policy choices. BTC, the largest cryptocurrency by market capitalization, experienced a 4% increase in the past 24 hours and was recently trading at around $28,200 Thursday afternoon. Earlier, it had surged as high as $28,800, suggesting that investors were once again willing to take on riskier assets. Data from TradingView showed that BTC/USD on the Coinbase exchange hit a high of $28,839.


Brian Armstrong has renewed calls for crypto users to “elect pro-crypto candidates”!

Brian Armstrong, the CEO of Coinbase, a cryptocurrency exchange based in the United States, has once again urged crypto users to “vote for pro-crypto candidates” in upcoming elections. He believes that this is the best way to ensure that crypto technology continues to develop and be embraced by the mainstream.


Mysten Labs to Acquire Equity, Token Warrants From FTX Bankruptcy Estate for $96M!

Mysten Labs, the team behind the Sui blockchain, on Wednesday agreed to purchase FTX’s equity investment in Mysten Labs and sui token warrants for $96.3 million in cash from the FTX bankruptcy estate, as per court documents. John J. Ray III, CEO of FTX, has undertaken efforts to ensure creditors of Sam Bankman-Fried’s defunct crypto exchange get the most out of the situation, which involves liquidating several prized assets in the FTX Ventures portfolio. The buyback agreement is part of this process.


Arbitrum Airdrop Sees Sell-Off Upon Listing, But Traders Remain Optimistic About ARB!

At 9 a.m. EST, the official Arbitrum airdrop page crashed immediately after the claiming process began. Despite this, some users were still able to claim the tokens through alternative methods, such as Arbiscan. Following this, the market saw a huge sell-off of the token over the course of two hours, with its price plummeting from its opening of $10.29 to as low as $1.


Stake Sale of Mysten Labs by FTX Debtors Agreed at $95 Million!

Debtors of the no-longer-active crypto exchange FTX have consented to a deal that would involve the sale of its preferred stocks in Mysten Labs, the company responsible for the Sui blockchain. The debtors of FTX recently presented a settlement to Mysten Labs in the US Bankruptcy Court in Delaware on March 22. The agreement entails a mutual relinquishment of all claims and the sale of $95 million in preferred stock to Mysten, as well as a $1 million allocation of SUI tokens.