Category: crypto

SpaceX transferred 1,163 BTC to a new wallet tied to Coinbase Prime, reducing on-chain holdings to 6,095 BTC. Analysts believe it is a custody reshuffle, not a sale. Tesla holds 11,509 BTC. Bitcoin market is rebounding. Transfers seen as reorganization, not liquidation. No statement from SpaceX regarding purpose of transfers.

Tether is ending its operations in Uruguay due to high electricity costs, laying off 30 staff members. The company had planned significant investments in the country but faced challenges with energy prices. Tether has been expanding globally, moving its headquarters to El Salvador and making strategic investments in Brazil and Latin America.

Tether CEO criticized S&P Global Ratings for giving its stablecoin a low stability score due to disclosure gaps and high-risk reserves. S&P rated tether as “5 (weak)” for limited transparency and exposure to risky assets. The CEO defended Tether’s overcapitalization and profitable operation, while most reserves are in safe assets.

Australia has introduced a bill to regulate digital asset platforms by requiring them to obtain licenses from ASIC. The goal is to protect consumers and boost market confidence. The bill would establish licensing thresholds and exempt low-volume platforms while aligning larger players with traditional financial regulations. The government aims to attract domestic and global crypto…

South Korea’s financial sector was targeted by a supply chain attack involving Russian and North Korean hackers using Qilin ransomware to steal 2 TB of sensitive banking data. Bitdefender’s report revealed that the attackers breached third-party vendors to access multiple financial institutions, marking an escalation in supply chain tactics against critical infrastructure.

Cronos is hosting x402 PayTech Hackathon with $42,000 prizes for developers building AI-native payment applications on its upgraded blockchain network. Performance upgrades include lower gas fees and faster block times, positioning Cronos as a base layer for tokenization and AI-driven financial projects. Developers can access workshops and guidance to build practical applications.

Hedera’s HBAR token has been reinstated in the Coinbase 50 Index, allowing exposure through the KraneShares Coinbase 50 ETF and COIN50-PERP. Hedera uses hashgraph consensus for fast, efficient transactions. The token was initially included in the index but later removed. Its return follows increased trading volume and price strength.

Kyrgyzstan has launched USDKG, a gold-backed stablecoin pegged 1:1 to the USD with an initial issuance of $50 million. The stablecoin is built on the Tron blockchain, audited by ConsenSys Diligence, and issued by a state-owned company. The project aims to expand its gold reserves to $500 million and eventually $2 billion, promoting financial inclusion…

Sygnum CIO Fabian Dori says that sentiment, not fundamentals, influences the crypto market. The recent crash was driven by macro shocks, not underlying factors. Indicators show worsening sentiment, but Dori believes it is a correction, not a collapse. The market outlook is strong for the medium term with potential for recovery.

The Ethereum mainnet has raised its block gas limit to 60 million, the highest level in four years, following support from over 513,000 validators. This increase aims to improve transaction throughput and reduce congestion, ahead of the Fusaka upgrade scheduled for December 3. The move is part of ongoing efforts to enhance network scalability and…