Category: crypto

Bitcoin traded near $77,364 after gaining 22.1% in a week and briefly reaching $80,000. Upcoming events, including July inflation data, revised economic growth, and a speech by Federal Reserve Chair Kevin Warsh, could impact Bitcoin’s performance. The cryptocurrency faces inflation and growth tests, with potential influences from Treasury yields and the dollar.

A Hyperliquid user lost 550,000 USDC after clicking a Google sponsored ad for a fake website, connected to the Inferno drainer ecosystem. The stolen funds were split among different addresses, with the infrastructure linked to about $52.74 million in total losses from various phishing incidents. Salus traced and reported the theft to relevant authorities for…

Solana validators and delegators are currently voting on three governance proposals, including a proposed constitution, faster disinflation of SOL, and a redesigned transaction fee structure. Voting is open until the end of epoch 1023, with the expectation of finalizing the results on Thursday at around 15:30 UTC.

A cryptocurrency wallet linked to Wintermute held $190.77 million in short positions on Hyperliquid, with Ethereum leading at $53.02 million. XRP had a $10.19 million short. Wintermute’s exposure increased by $44.58 million. XRP price rose 47% in a week. Wintermute’s strategies and positions are not publicly confirmed.

Phantom will stop supporting Sui on September 24, removing balances, transactions, swaps, and applications. Users can migrate their Sui assets to another wallet before or after the deadline, with options to swap to other supported networks or retain native Sui assets. Phantom warns against potential migration scams and advises users to verify the legitimacy of…

Upbit will launch trading of Lighter’s LIT token against the South Korean won on August 24 at 1:00 pm KST. Deposits and withdrawals will only be supported through Ethereum using a specified LIT contract address. Initial trading will have restrictions, with only limit orders available for the first two hours. Staking LIT provides access to…

Tether CEO Paolo Ardoino stated that developing economies like Venezuela, Argentina, Bolivia, and Turkey are increasingly using USDT for domestic and international trade due to monetary instability. The digital dollar stablecoin is seen as a reliable alternative when local currencies weaken or physical dollars are scarce, contributing to its adoption in these markets.

Coinbase CEO Brian Armstrong is advocating for the CLARITY Act to provide permanent legislation to protect crypto users and limit regulatory overreach. The Senate is scheduled to vote on the cloture motion for the bill on September 15. Armstrong believes the legislation would protect consumers and law enforcement against illicit activities.

The Blockchain Association and Crypto Council for Innovation filed a lawsuit against Illinois to block a 0.2% digital asset tax set to begin on January 1, 2027. The tax covers specific transactions and custody services. The complaint alleges seven legal violations and seeks injunctions. Another industry group previously filed a similar lawsuit.

Kalshi has been blocked from operating in Washington due to an injunction, while requesting a reconsideration from a King County judge. The company is facing restrictions in Michigan and Nevada as well. The CFTC is preparing new regulations for prediction markets to ensure consumer protection. Kalshi is appealing the restrictions in various states.