The United States has officially designated two key figures linked to the Russia-based LockBit ransomware group. This decision marks a significant step in a collaborative effort led by the U.S. Department of Justice, the Federal Bureau of Investigation, and international allies, aiming to pull apart the operations of LockBit. The U.S. government’s stance is clear: it will not stand passive as its citizens and institutions fall victim to cyber extortion and theft. Deputy Secretary of the Treasury, Wally Adeyemo, expressed the nation’s commitment to fighting cyber threats through a robust, whole-of-government strategy. This strategy involves leveraging every tool at the…
Author: Rea K.
Yuga Labs, the entity behind the Bored Ape Yacht Club (BAYC), has welcomed Greg Solano, one of its founders, back to the position as CEO. This leadership transition is synchronized with an impressive growth in the company’s Non-Fungible Token collections. Notably, the BAYC collection experienced a price floor surge exceeding 13%, indicating a bullish market sentiment towards the company’s future under Solano’s guidance. Leadership Transition Fuels Optimism The return of Solano to Yuga Labs’ executive chair introduces a fresh phase for the company. Under Daniel Alegre’s previous leadership, who brought his extensive experience from roles at Activision Blizzard and Google,…
The Nvidia latest quarterly earnings report showcased a 769% increase in net income from the previous year, shattering Wall Street forecasts. This remarkable performance led to a roughly 10% surge in Nvidia’s stock price during after-hours trading. The company’s success story didn’t end there; it reported an adjusted earnings per share of $5.16, easily topping the anticipated $4.64, alongside revenue hitting $22.10 billion against predictions of $20.62 billion—a 265% hike from last year’s figures. “Strong demand was driven by enterprise software and consumer internet applications, and multiple industry verticals including automotive, financial services and health care,” the company said. Nvidia’s…
The Gyeonggi province of South Korea has introduced a really interesting system named ‘Arbitrator Virtual Asset Tracking Electronic Management System.’ This initiative has proven to be a game-changer, successfully recuperating approximately 6.2 billion won (around $4.7 million) in overdue taxes last year. The system introduces an advanced method of tracing tax defaulters’ personal information, such as phone numbers, by cross-referencing them against crypto trading platforms. Streamlining Tax Collection Efforts The introduction of this system marks a significant advancement in how authorities approach tax collection from crypto traders. Previously, tracking down tax defaulters was a cumbersome process, often extending up to…
Binance has unveiled its latest project on the Launchpool platform: Portal (PORTAL). This 47th addition to Binance Launchpool marks a new chapter in cross-chain gaming, promising an innovative platform that bridges various blockchain networks to create a seamless gaming experience. Starting from February 22, 2024, Binance users are given the unique opportunity to farm PORTAL tokens by staking their BNB and FDUSD in dedicated pools. This seven-day farming window precedes the listing of PORTAL on the Binance exchange on February 29, where it will be tradable against major cryptocurrencies such as Bitcoin (BTC), Binance Coin (BNB), Tether (USDT), First Digital…
Nigeria is considering putting strict measures against major cryptocurrency exchanges like Binance to safeguard its forex market from manipulation and illicit activities. According to sources close to the matter, the Nigerian government’s focus is on mitigating risks associated with the misuse of crypto trading platforms, which are allegedly being exploited for destabilizing the naira, Nigeria’s currency, and for moving funds illicitly. Regulatory Concerns and Market Stability The decision is a reaction to increasing worries about the potential for criminals to use digital asset platforms for harmful activities. These concerns are not just economic; they also encompass national security issues. Reports…
Brad Garlinghouse, the CEO of Ripple, voiced his support for the concept of an XRP exchange-traded fund.He discussed the necessity for investor diversification within the cryptocurrency sector, drawing parallels to the early stock market era. Garlinghouse emphasized the potential for the crypto market to evolve with the introduction of more ETFs, aiming to spread investment risks more evenly across various assets. While Garlinghouse chose not to delve into details about any ongoing negotiations with ETF issuers, he stressed the broader implications of such financial instruments for the market. The cryptocurrency landscape, according to him, is on the brink of diversification…
The Hong Kong Monetary Authority (HKMA) introduced a circular for crypto custody platforms. This development marks a vital stride towards fortifying the security and efficient management of digital assets held in custody by authorized institutions (AIs). With an increasing interest in digital asset trading and custodial services, this directive sets a new benchmark in the crypto sector’s evolution in Hong Kong. Strengthening Digital Asset Custody in Hong Kong The HKMA’s initiative underscores a meticulous approach to digital asset protection, mandating AIs to implement rigorous risk assessment strategies. These include devising robust policies and controls aimed at minimizing the perils associated…
MetaMask is on the verge of reaching its all-time high user engagement levels. This remarkable achievement aligns with the cryptocurrency market’s anticipation of another bullish phase. The wallet’s user base has skyrocketed, showcasing a significant leap in monthly active users, which serves as a testament to the burgeoning interest in digital currencies and the broader acceptance of web3 technologies. Unprecedented Growth in User Base MetaMask has experienced a rise in its user engagement, marking a 55% increase in its monthly active users over a mere four-month span. The user count surged from 19 million in September to an impressive 30…
The user named “TWGHNc” has drawn significant attention due to its high-volume activities across various trading platforms, including the prominent Binance and a slew of decentralized exchanges. This intrigue was sparked by Lookonchain, a blockchain analytics firm, which highlighted a notable transaction wherein the wallet in question withdrew a staggering 500 million USDT in Tether from HTX, previously known as Huobi, last Sunday. The activities of this wallet didn’t stop there; it further executed a substantial deposit of 50 million USDT into Binance today. Such financial maneuvers have led market analysts to speculate about the identity behind this wallet, with…