Category: crypto

The US Department of the Treasury recovered and prevented over $4 billion in fraud during fiscal year 2024, utilizing AI and machine learning. This marks a significant increase from $652.7 million in 2023, as the Treasury intensified fraud prevention efforts and focused on high-risk transactions.

Worldcoin, backed by Sam Altman, rebranded as World and aims to reach 1 billion users. Key updates include launching World Chain, a Layer 2 blockchain, and new biometric Orb devices for identity verification. The project focuses on scalability and decentralization, expanding globally, with new Orbs expected by spring 2025.

A Blockworks Research report reveals that nearly 70% of institutional ETH investors engage in staking, with 52.6% holding liquid staking tokens (LSTs). Factors influencing their choice of staking providers include liquidity and security. While interest in restaking grows, concerns about centralization persist, highlighting a cautious yet optimistic outlook among investors.

Spot Bitcoin ETFs have exceeded $20 billion in total net inflows, boosted by $1.5 billion in a week, signaling heightened investor interest. Despite Grayscale’s outflows, net growth remains substantial, with Bitcoin ETFs managing $65 billion total assets and holding 951,000 Bitcoin, enhancing their influence in the crypto market.

The FBI arrested Eric Council Jr. for hacking the SEC’s X account and posting a fake announcement about Bitcoin ETFs, causing BTC’s price to spike and then crash. Charged with identity theft and fraud, Council used SIM swapping to gain access, receiving Bitcoin for his role in the scheme.

Bitcoin’s hashprice has reached a two-month high of $53.64, providing relief for miners after a significant drop in September. The rise coincides with Bitcoin’s recent price rally and increased network activity. US miners now control 28.9% of the global hashrate, reflecting their operational efficiency amid rising market conditions.

Nishad Singh, a former FTX executive, seeks leniency in sentencing, citing his cooperation with authorities and a minor role in FTX’s collapse. His attorneys highlight his swift response to the investigation and personal circumstances, contrasting him with other executives. Meanwhile, other FTX leaders face varying sentences for their roles.

Kraken has launched kBTC, a new fully-backed ERC-20 wrapped Bitcoin token, designed to enhance Bitcoin’s usability in DeFi. Each kBTC is backed 1:1 by Bitcoin stored in Kraken’s custody, with public verification. Amid rising competition, kBTC aims to promote global crypto adoption and interoperate across multiple blockchain ecosystems.

Montenegro’s Justice Minister Bojan Božović confirmed the imminent extradition of Do Kwon, co-founder of Terraform Labs, after a lengthy legal process. Arrested in March 2023 for using forged documents, Kwon faces legal battles in South Korea and potential severe charges in the U.S., marking a significant step in his controversial case.

AlphaBitcoin accumulation by whales and investors suggests a significant shift in market momentum, indicating a potential upcoming price surge. This strategic buildup of assets is fueling optimism within the cryptocurrency market.