What You Need to Know About Crypto Staking, Delegating, and Validating

There are a few ways to earn passive income in the crypto world. One way is through crypto staking. Staking is when you hold onto your coins in a wallet and allow them to accrue “interest.” It means that you will be rewarded with new coins for helping to secure the network. Other ways to earn passive income are through delegating and validating. In this article, we will discuss these three methods of earning passive income and how they work! We will also explain the concepts of Proof of Work…

Read More

Bad day for Binance with SEC investigation and Reuters exposé

The United States Securities and Exchange Commission (SEC) is investigating whether Binance Holdings broke securities rules when it launched its BNB token in an initial coin offering (ICO) five years ago, Bloomberg reported on June 6. Binance is the world’s largest crypto exchange, and BNB is the fifth largest cryptocurrency. The BNB ICO took place in July 2017 on several platforms, during the height of the so-called ICO boom, and the Binance exchange opened just days afterward. According to Bloomberg, citing unnamed people familiar with the matter, at least one…

Read More

Bitcoin Marks First Green Weekly Close After Two Months In The Red

Bitcoin has been marking multiple weeks of consecutive red closes. This has been the case for the last two months when the leading cryptocurrency had seen 9 consecutive weeks of red closes. Unsurprisingly, this had pained a very bearish image for the digital asset. However, it seems the tide has begun to turn as bitcoin has now ended its streak. A break above $30,000 in the early hours of Monday put BTC in its first weekly close in more than two months. Better Days Ahead For Bitcoin? While the price…

Read More

OpenSea in Hot Water as Executive Charged With Insider Trading

A former OpenSea executive, Nathaniel Chastain, has been arrested and booked on charges of insider trading of NFTs, money laundering and wire fraud. Per the press statement released by the U.S. Attorney’s Office in the Southern District of New York (SDNY), Nathaniel Chastain was arrested officially on Wednesday and charged with wire fraud and money laundering in a scheme to commit insider trading. The accused was a top executive at OpenSea before his contract was terminated after being accused of committing insider trading on NFT collections. In the press…

Read More

South Korean Government Backs Metaverse by Investing Over $177 Million in It

Even though the Metaverse is still a developing ecosystem and its scope is sketchy, the South Korean government has backed the movement by being an early investor. This gesture from the South Korean government can trigger other countries to invest in this technology, which has the potential to be the next revolution. The South Korean government said the investment will be labeled under the newly launched program, “Digital New Deal,” responsible for investing in technologies linked with the country’s economy. With the ministry of Communication, Technology, Science and Information having…

Read More

Reserve Rights (RSR) builds momentum ahead of its long-awaited mainnet launch

Bitcoin was created to give the average person a peer-to-peer economic system and a store of wealth asset that could provide financial autonomy and access to banking, especially for people living in places where financial services are sparse or non-existent. In the last five years, there have been a number of blockchain projects that aim to mirror Bitcoin’s original mission and the growing popularity of stablecoins further highlights the need for alternative financial models. One project that is beginning to see a bit of momentum is Reserve Rights (RSR), a…

Read More

Traders think Bitcoin bottomed, but on-chain metrics point to one more capitulation event

The bull market euphoria that carried prices to new highs throughout 2021 has given way to bear market doldrums for any Bitcoin (BTC) buyer who made a purchase since Jan. 1, 2021. Data from Glassnode shows these buyers “are now underwater” and the market is gearing up for a final capitulation event.  Bitcoin net unrealized profit/loss. Source: Glassnode As seen in the graphic above, the NUPL, a metric tha is a measure of the overall unrealized profit and loss of the network as a proportion of the market cap, indicates that…

Read More

Bitfinex Bitcoin longs hit a record-high, but does that mean BTC has bottomed?

Bitcoin (BTC) has been unable to close above $32,000 for the past 28 days, frustrating bulls and pushing the Fear and Greed index to bearish levels below 10. Even with June 6’s small boost, the tech-heavy Nasdaq stock market index is down 24% year-to-date. Investors who keep a close eye on regulatory development were possibly scared after New York state made clear its intention to regulate the crypto industry, including Bitcoin mining. On June 2, New York Attorney General Attorney Letitia James issued an investor alert against “risky cryptocurrency investments,”…

Read More

New York AG Warns About Crypto Investments as Mining Moratorium May Come to New York

Letitia James, the New York Attorney General, has made several statements towards cryptocurrency investment on Friday, June 3. The AG released a statement commenting on the volatility of crypto assets and warned investors of the high-risk nature of investing in crypto, as seen in the crash of the UST stablecoin in May. James also highlighted that billions have been lost in crypto in 2022.  New York is also focusing on banning proof-of-work crypto mining. The ban of cryptocurrency mining in one of the largest states in the United States could…

Read More

IRA Financial Trust to sue Gemini over $36M crypto assets exploit back in February

On Monday, IRA Financial Trust, a platform providing self-directed digital asset retirement and pension accounts, filed a lawsuit against cryptocurrency exchange Gemini for alleged negligence in safeguarding customers’ digital assets during a critical exploit. The firm’s client accounts were held in Gemini’s custody. On February 8, a breach led to the siphoning of $36 million in crypto assets from customers’ accounts via unauthorized withdrawals.  Since then, both companies have blamed each other for being responsible for the loss of funds. To complicate matters, an allegedly fake 911 call coincided with…

Read More