#CRYPTOSLATE News

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1M Bitcoin has left exchanges since March 2020

cryptoslate.com Definition The total amount of coins held on exchange addresses. Quick Take In March 2020, the most amount of Bitcoin (BTC) was sitting on exchanges at 3.2M BTC. Since then,…

Cardano founder Charles Hoskinson calls Ethereum staking problematic

cryptoslate.com founder Charles Hoskinson tweeted on Feb. 9 that Ethereum’s (ETH) staking is problematic. According to Hoskinson, Ethereum’s staking looks “a lot like regulated products”…

Ordinal Punks emerge as leading Bitcoin NFT collection

cryptoslate.com PROOF Collective noted that Ordinal Punks NFTs have been rising in price. The tweet mentioned the recent sale of #27, which sold for 1.93 BTC ($43,800). It also stated…

Argo Blockchain CEO, Interim Chairman Peter Wall steps down

cryptoslate.com Argo Blockchain CEO and Interim Chairman Peter Wall has stepped down from his role at the mining firm to pursue other opportunities. The Bitcoin (BTC) mining firm announced…

SALT Lending converts $64M debt

cryptoslate.com SALT Lending announced on Feb. 9 that it had converted around $64 million of its debt by issuing Series A preferred stock. The U.S.-based firm issued the stocks in exchange…

Genesis-backed Coin Cloud files for bankruptcy on its ATM network

cryptoslate.com Cryptocurrency ATM company Coin Cloud has filed for bankruptcy, according to a document submitted to Nevada’s bankruptcy court on Feb. 7. Coin Cloud has up to 10,000…

Coinbase CEO says SEC wants to ban retail staking

cryptoslate.com Coinbase CEO Brian Armstrong said on Feb. 8 that his company has heard rumors that the United States’ main securities regulator intends to ban staking. Armstrong wrote on…

Craig Wright loses U.K. case as judge rules Bitcoin file format can’t be copyrighted

cryptoslate.com Craig Wright has lost a case in the U.K. that could have allowed him to prevent the operation of Bitcoin and Bitcoin Cash, as seen in a Feb. 7 court filing. In his claim,…

Robinhood saw crypto transaction revenue fall by 24% in Q4 2022

cryptoslate.com Trading app company Robinhood reported various cryptocurrency-related trends in its quarterly and full-year report published on Feb. 8. The company said that it saw…

Trust Wallet says user’s $4M hack was done via social engineering

cryptoslate.com Crypto wallet Trust Wallet said an organized crime unit in Rome social engineered its user who lost $4 million, according to a Feb. 8 Twitter thread. The hacking victim,…

Hermès wins case over artist in landmark NFT trial

cryptoslate.com Luxury brand Hermès secured a victory in the first of three landmark NFT trials slated to commence this year. Hermès convinced a Manhattan jury today that the digital artist…

Whale activity on the Bitcoin network makes up 50% of all transactions

cryptoslate.com Definition Entity-adjusted relative on-chain volume breakdown by the USD value of the transactions. Quick Take Whale activity in terms of transactions now accounts for 50%…

Smaller exchanges see around $200M in Bitcoin withdrawn over past week

cryptoslate.com Around $200 million worth of Bitcoin (BTC) was withdrawn from smaller exchanges over the past week, according to Glassnode’s data as analyzed by CryptoSlate. Gate.io…

SEC targets registered crypto advisors as top priority for 2023

cryptoslate.com The U.S. Securities and Exchange Commission (SEC) released its top priorities for 2023 on Feb. 7, in which it highlighted the need for greater attention to those advising…

Britcoin CBDC touted as replacement to cash by Bank of England

cryptoslate.com The UK plans to impose a cap of between £10,000 to £20,000 ($12,017 to $24,033) for initial digital wallet holdings as it pushes forward with plans to introduce a Central…

‘Unregulated, rogue’ crypto exchanges to end under passport system, says O’Leary

cryptoslate.com Entrepreneur Kevin O’Leary advocated for an exchange passport system that oversees cryptocurrency regulation on a global scale. “I think this is all coming, and I think this…

3AC liquidators files against Kyle Davies for ignoring Subpoena order

cryptoslate.com liquidators alleged that 3AC co-founder Kyle Davis has openly ignored the court’s subpoena order, however, a motion was filed to extend the deadline till March 16. 3AC…

Crypto AI tokens struggle as Google chatbot ad campaign shows factual issues; stock falls 6%

cryptoslate.com Since the rise in popularity of ChatGPT following OpenAI’s research beta launch late last year, crypto AI tokens have been pumping hard with monthly gains of over 200% in…

FTX lawyers S&C file $7.5M invoice for November services

cryptoslate.com FTX lawyers Sullivan & Cromwell (S&C) charged the bankrupt exchange $7.5 million for its work between Nov. 12 till Nov. 30, 2022, according to a Feb. 7 court filing. The law…

Gazprombank warns of losses stemming from launch of Russian CBDC

cryptoslate.com Gazprombank said the Russian central bank digital currency (CBDC) has to be launched gradually and carefully to minimize the losses banks will face as a consequence, Russian…

Gifto token surges over 300% following rebrand, token swap

cryptoslate.com Gifto’s native token GFT is up over 370% in the past week following its move to rebrand and swap its token from ERC-20 GTO to the BEP-20 GFT. From GTO to GFT Gifto launched…

Stark contrast of spot-to-futures ratio between Bitcoin and Ethereum

cryptoslate.com Definition Daily spot market total volume for ETH divided by ETH futures trading volume. Quick Take For a healthy ratio and sustainable price action, it is important to have…

Dubai bars issuance of privacy coins, details other crypto regulations

cryptoslate.com Dubai’s Virtual Assets and Regulatory Authority (VARA) has barred the issuance of privacy-focused crypto assets like Zcash (ZEC) and Monero (XMR) in the region, according to…

Full audit of Binance’s reserves ‘some way off’

cryptoslate.com Binance Asia-Pacific head Leon Foong said a comprehensive audit of the exchange’s reserve is not possible in the near term, given the crypto learning curve for big…

Daily wMarket Update: Polygon leads top 10 second day running

cryptoslate.com The cryptocurrency market cap saw net inflows of $12.4 billion over the last 24 hours and currently stands at $1.08 trillion — up 1.2% from $1.07 trillion. Over the…

IRS broadens tax requirements for crypto to encompass everyone

cryptoslate.com The International Revenue Service (IRS) has updated its taxation and reporting requirements and broadened its scope to everyone who “has dealt” with digital assets,…

Sandbox surges ahead of token unlock

cryptoslate.com The Sandbox network will unlock 372.6 million SAND tokens — amounting to 12.419% of the circulating supply — on Feb. 13. The news comes amid a 30% surge in price driven by…

Korean authorities confirm search for Do Kwon

cryptoslate.com Korean officials traveled to Serbia last week in search of Do Kwon, according to Bloomberg. The Prosecutor’s Office in Seoul confirmed that a delegation — including a member…

Cardano ADA sees increased whale transactions, DeFi TVL doubles

cryptoslate.com Cardano’s ADA whale transactions have seen a significant increase this year, according to Santiment data. On Feb. 3, Santiment data showed that the Cardano network had 105…

Argo mined 168 BTC in January, accrued roughly $3.42M in revenue

cryptoslate.com Argo Blockchain mined 168 Bitcoin (BTC) during January — collecting roughly $3.42 million in mining revenue, according to the company’s January Operational Update. Argo’s…

Third highest rate of stablecoin outflows into Bitcoin in 5 years

cryptoslate.com Definition The Stablecoin Supply Ratio (SSR) is the ratio between Bitcoin supply and the supply of stablecoins denoted in BTC, or: Bitcoin Market cap / Stablecoin Market…

BIS set to launch stablecoin monitoring system ‘Project Pyxtrial’

cryptoslate.com The Bank of International Settlement (BIS) — via its innovation hub — said it would launch a stablecoin monitoring system Project Pyxtrial, according to a company report.…

The Sandbox gains 30% following mysterious Saudia Arabia partnership

cryptoslate.com Saudi Arabia has signed an agreement with the popular blockchain game The Sandbox, according to a LinkedIn post published on Feb. 7. Sebastien Borget, co-founder and COO of…

ChatGPT.ens domain name sells for over $10k

cryptoslate.com A ChatGPT ENS domain name was sold for 6 Wrapped Ethereum (WETH) — roughly $10,000 — on Feb. 7, according to OpenSea data. The domain name is currently owned by Ishmilly,…

Hut 8 to merge with rival cryptocurrency mining firm US Bitcoin

cryptoslate.com Two notable Bitcoin mining firms, Hut 8 and US Bitcoin, have announced a merger as detailed in a press release published on Feb. 7. Combined company will have six sites The…

Voyager Digital deal under increased scrutiny as law firm subpoenas SBF and FTX, Alameda execs

cryptoslate.com New court documents filed on Feb. 6 by a law firm representing high-ranking executives from Voyager Digital seek to subpoena records from top Alameda and FTX executives in a…

US prosecutors seek postponement of fraud charges by CFTC, SEC against SBF

cryptoslate.com U.S. prosecutors have asked that the fraud cases against FTX founder Sam Bankman-Fried not proceed until the conclusion of the government’s criminal case against him,…

UK says digital pound will not be a crypto as consultation period begins

cryptoslate.com The U.K. initiated the consultation period for its digital pound today and said that the asset will not be a cryptocurrency, as seen in a Feb. 7 statement. Jeremy Hunt,…

Venture crypto investing down 75%, but ‘native-VCs’ continue staying course

cryptoslate.com Crypto investing by Venture Capitalists (VC) fell 75% in Q4 2022 versus the same period in the prior year, according to Bloomberg. The dramatic plunge in activity was driven…

Bitcoin supply in profit and loss has diverged, potentially marking a bottom in cycle

cryptoslate.com Definition The circulating supply in profit, i.e., the amount of coins, the price of which at the time they last moved, was lower than the current price. The circulating…

Average BTC block size reaches new ATH at over 2 MB

cryptoslate.com Glassnode data analyzed by CryptoSlate shows that Bitcoin (BTC) average block size reached a new all-time high by reaching 2.25 megabytes (MB). BTC Mean Block Size (Source:…

Grayscale continues to challenge SEC for spot Bitcoin ETF conversion

cryptoslate.com Grayscale announced that it had filed its final briefs in its litigation against the SEC to challenge the decision to deny the conversion of the Grayscale Bitcoin Trust into…

WazirX deems Binance allegations ‘false’ and ‘unsubstantiated’

cryptoslate.com India-based crypto exchange WazirX said Binance’s allegations against it are “false” and “unsubstantiated,” according to a Feb. 7 statement. The exchange added that it was…

Bitcoin up 287,000% since 2011; GBPUSD 11% away from all-time low

cryptoslate.com Quick Take The pound has been in a long-term decline since the 70s. In 1971, it was 2.4 pounds to a dollar, and it is now at 1.2, a 50% drawdown. Currently, GBPUSD is at…

tokens decline 10% as 18M burn becomes imminent

cryptoslate.com Crypto exchange Huobi said DebtDAO would burn 18 million FTX User Debt (FUD) tokens later today because it rallied to a much higher value than the recommended price,…

Turkish watchdog stretches rules and allows crypto wallets to collect aid

cryptoslate.com A Turkish singer known for his charitable personality, Haluk Levent, reached out to the country’s financial watchdog (MASAK) and convinced them to allow collecting crypto…

Class-action lawsuit alleges Signature bank ‘permitted’ FTX comingling customer funds

cryptoslate.com Crypto-friendly Signature Bank has been drawn into a class-action lawsuit over its role in the operations of the defunct crypto exchange FTX, according to a Feb. 6 court…

Daily wMarket Update: Overall market sentiment green as AI tokens establish their rise

cryptoslate.com The cryptocurrency market cap saw net inflows of $7.5 billion over the last 24 hours and currently stands at $1.07 trillion — up 0.7% from $1.06 trillion. Over the reporting…

Is your crypto safe? Check the security of your portfolio with NGRAVE

cryptoslate.com Hardware wallet manufacturer NGRAVE has launched the Security Self-Audit, enabling users to check the safety of their crypto portfolio. Despite the ongoing bear market,…

Lido’s staked Ethereum crosses 5M, Frax Ethereum on the rise

cryptoslate.com Liquid staking protocol Lido said its staked Ethereum on the Beacon Chain reached 5.05 million ($8.32 billion). LDO surged 18% to $2.45 in the last 24 hours, according to…

SBF lawyers reach agreement on messaging apps usage

cryptoslate.com Sam Bankman-Fried’s (SBF) attorney Mark Cohen said an agreement had been reached with prosecutors to allow the arrested FTX founder to use some messaging applications —…

Ex-Coinbase Manager files to dismiss SEC claims

cryptoslate.com Former Coinbase Product Manager Ishan Wahi has urged the court to dismiss insider trading charges against him — claiming that the U.S. Securities Exchange Commission (SEC)…

Second worse drawdown in Bitcoin history in terms of realized cap

cryptoslate.com Definition Market capitalization (or network value) is defined as the product of the current supply by the current USD price. Realized Cap values different parts of the…

Layer1 CEO accuses founder of running it as his ‘own personal fiefdom’

cryptoslate.com San Francisco-based Bitcoin mining company Layer1 Technologies has been hit with a lawsuit by its own CEO John Harney and investment firm, DGF Investments. The complaint…

Uniswap founder denies swindling Balance.io co-founder

cryptoslate.com Uniswap founder Hayden Adams said he was “sad and disappointed” with recent comments by Balance co-founder Ric Burton. Burton said he was owed money from supporting Adams…

CoW Swap said it suffered no loss

cryptoslate.com protocol CoW Swap confirmed that it was exploited for $166,000 by a hacker who drained a settlement contract containing its protocol fees. Meanwhile, blockchain analytical…

Bitvavo expected to receive at least 80% of DCG’s debt

cryptoslate.com Crypto exchange Bitvavo is expecting Digital Currency Group (DCG) to repay at least 80% of its debt to the exchange, according to a Reuters report. DCG owes €280 million to…

UN says North Korea stole $630m of crypto last year in lowball estimate

cryptoslate.com said in a confidential report that North Korea stole $630 million of crypto last year, according to a Feb. 6 Reuters report. The UN noted that its estimate is considerably…

DCG sells $22M worth of Grayscale shares to raise funds

cryptoslate.com Leading asset management firm Digital Currency Group (DCG) has reportedly sold some of its shares in Grayscale crypto trusts — raising roughly $22 million, according to the…

Op-ed: What can we see in web4 that we’re missing in web3?

cryptoslate.com The following is a guest post from Anndy Lian. The more I speak and advise on crypto and blockchain matters, the more I think there is a gap between what decentralization is…

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