Pump.fun’s $1.9 million attacker claims exploit was about sending a message May 21, 2024 Each day, Coinrule will run through the state of the digital assets market for Blockbeat, your home for news, analysis, opinion and commentary on blockchain and digital assets. So far this cycle, meme tokens have played an outsized role compared to previous cycles. They have not only provided some of the best returns, but have [...]
Crypto’s fight for legitimacy reaches US president May 20, 2024 A bill to strike down the Securities and Exchange Commission's staff accounting bulletin "SAB 121" has become the first-ever crypto bill to reach the US President.
Futures exchange behemoth, CME Group, rumoured to be starting their own spot Bitcoin exchange May 17, 2024 When crypto natives think of spot exchanges, Binance, Coinbase and Uniswap are the main ones that come to mind. However, they may now have a major competitor entering the market. This player is a Wall Street-native, and also happens to be the largest futures exchange in the world.
Wisconsin’s Investment Board becomes first state pension fund to invest in Bitcoin spot ETFs May 16, 2024 During previous cycles, the anticipation of institutional involvement in crypto was a driving force for demand. “The institutions are coming" was a common claim on Crypto Twitter, often repeated after rumours of a large financial firm entering the market echoed through Telegram chats and Discord servers.
Crypto market sentiment declines as Bitcoin continues to consolidate May 14, 2024 It has been two months since Bitcoin’s latest all-time high. After rising over 370% in 16 months, Bitcoin is taking a well-deserved breather. Before this period of consolidation, discussions suggested that this cycle might be "left-truncated" and could end much earlier than previous ones. The idea particularly gained traction as Bitcoin surpassed its previous all-time highs before the halving. Now, it seems the excitement of the previous run has faded with market sentiment also declining.
Opinions on crypto split demographics beyond politics May 13, 2024 Cryptocurrency as technology is neutral. Yet that has not saved it from becoming a political party topic in a heavily partisan US political environment during an election year. Trump recently commented that he is 'good with Crypto.' His campaign will start accepting donations in crypto. Many in the industry and also the wider tech sector are embracing him. Given that the SEC under Biden has pursued a relentless war against the industry, this is not surprising. Democrat Senator Elizabeth Warren in particular has positioned herself strongly against the industry with various legislative actions.
Crypto becomes US election talking point as Trump and Biden share their stance on the industry May 10, 2024 “The enemy of my enemy is my friend” may be an apt phrase to describe the upcoming US election in relation to crypto. The current Biden administration has demonstrated its disdain towards the industry with increasing aggression recently. On Wednesday, the Biden administration also publically chose their side, and may have made US crypto holders’ election voting decision a lot simpler.
FTX estate will recover up to $16.3 billion to creditors May 9, 2024 2022 was a traumatic year for the crypto industry. After Terra's implosion in May, the summer saw numerous bankruptcies from seemingly reputable crypto entities due to lacking risk management. Sam Bankman-Fried (SBF) appeared to have a plan to save them all. People heralded him as the "JP Morgan of Crypto" after he made several nine-figure investments to rescue the crypto economy, similar to JP Morgan's early 1900s actions to backstop financial institutions. However, by November 2022, SBF's own companies faced jeopardy. On November 11, 2022, FTX filed for Chapter 11 bankruptcy. Now, almost 18 months later, it seems creditors will be more than compensated.
Grayscale’s GBTC experiences first two days of Bitcoin ETF inflows as market rebounds May 8, 2024 The past two weeks of US Bitcoin spot ETF inflows were less than disappointing. The bullish camp suspected that after the halving, the ETFs would see a surge of inflows. The bears believed it would be a sell the news event, with the halving’s bullish effects already exaggeratedly priced. So far, it seems the bears have been correct, but with the latest ETF inflows, could the correction be complete and the market sentiment shifting?
Crypto’s Social Finance platform FriendTech experiences volatile token launch May 7, 2024 The beauty of crypto is it encompasses a variety of already existing and emerging sectors. Social Finance (SoFi) is an example of this. It merges already existing Web 2.0 social media platforms and ideas, with features and incentive mechanisms of Decentralised Finance (DeFi). Last Friday, the SoFi platform FriendTech launched and airdropped their own token (FRIEND) on Base. As always with crypto, there was not a lack of volatility.
