Author: Andrei Ionescu
The arrest of Telegram CEO Pavel Durov in France could be the first of many similar actions against tech executives resisting government demands, according to a report by Galaxy Research on Monday. The report suggests that Durov’s detention highlights escalating tensions between governments and platforms offering encrypted communication. Durov was arrested at Le Bourget Airport over the weekend in what Galaxy describes as a significant move against a prominent tech figure. The report speculates that Telegram and Durov may have resisted takedown or information requests from European authorities, particularly from the French government. Telegram’s links to The Open Network (TON)…
The U.S. Securities and Exchange Commission (SEC) has charged brothers Jonathan and Tanner Adam with orchestrating a $60 million Ponzi scheme involving a fraudulent crypto trading platform, the regulator announced Monday. The scheme allegedly defrauded more than 80 investors between January 2023 and June 2024. According to the SEC complaint, the Adams lured investors with promises of returns as high as 13.5% per month. They claimed that Jonathan Adam had developed an automated trading “bot” capable of identifying profitable arbitrage opportunities on a crypto asset platform. The SEC says these claims were entirely fabricated. The commission has also secured emergency…
Spot bitcoin exchange-traded funds (ETFs) in the U.S. recorded $202.51 million in net inflows on Monday, marking the eighth consecutive day of positive momentum. The 12 bitcoin funds have attracted a combined $756 million over the past eight trading days. BlackRock’s IBIT fund led Monday’s inflows with $224.06 million, the fund’s largest single-day inflow since July 22, according to data from SoSoValue. Other notable inflows included $5.52 million into Franklin Templeton’s EZBC and $5 million into WisdomTree’s BTCW. However, not all funds saw gains. Bitwise’s BITB fund experienced net outflows of $16.61 million, the largest outflows of the day, followed…
The bankruptcy administrator for crypto lender Celsius has distributed more than $2.53 billion in liquid cryptocurrency and cash, according to the first status report on payouts. The distributions, made at January 16 prices, were sent to approximately 251,000 creditors, covering around two-thirds of all eligible claimants by number and 93% by value, the administrator noted in a Monday court filing. Despite the significant progress, about 121,000 eligible creditors have yet to claim their distributions, which average around $1,500. Of those, 64,000 creditors have payouts of less than $100, while 41,000 others are owed between $100 and $1,000. The filing suggests…
The Solana blockchain has seen a significant drop in daily transaction fees, hitting levels not observed since early May 2024. On Monday, fees paid on the network amounted to just $639,000, representing a 65% decline from this month’s peak of $1.83 million on August 8 and an 87% decrease from the all-time high of $5.08 million on March 18, according to The Block’s Data Dashboard. The sharp drop in fees reflects cooling activity on the Solana network, with the fading hype around memecoin trading being a major factor, according to Ruslan Lienkha, Chief of Markets at YouHodler. “I believe the…
Bitcoin (BTC) slid under the $64,000 level in Asian trading hours on Monday, following a brief rally after favorable comments at the Jackson Hole symposium. The flagship cryptocurrency saw a 5% bump on Friday after U.S. Federal Reserve Chairman Jerome Powell signaled the beginning of a monetary easing cycle next month, boosting risk assets with the lure of cheaper money. Despite gains through Saturday, major tokens recorded slight losses over the past 24 hours. Ether (ETH) traded just above $2,700, while Solana (SOL) and XRP were priced at $158 and $0.58, respectively. Tron (TRX) bucked the trend with a 3%…
The total market capitalization of stablecoins, excluding algorithmic varieties, has reached a new all-time high, according to data from DefiLlama. Over the weekend, the stablecoin market cap expanded by 0.8%, climbing to over $168.1 billion. This surpasses the previous peak of approximately $167 billion set in March 2022. After hitting a low of around $122 billion in October 2022, the stablecoin market began a steady recovery, and the upward trend has accelerated since the start of 2024. The renewed growth in stablecoin market cap suggests a significant influx of capital into the crypto market, potentially driven by institutional investors. Rachael…
Thailand’s police and electricity authorities announced the shutdown of an illegal bitcoin mining operation in central Thailand after a series of unexplained power outages plagued a local community for several weeks. The raid, conducted on Sunday, took place in Ratchaburi province, west of Bangkok, according to a report from AFP. The operation involved officials from the Provincial Electricity Authority (PEA) and local police, who targeted a house suspected of running the illicit mining operation. Jamnong Chanwong, the chief district security officer, revealed that the power disruptions began in mid-July, likely coinciding with the mine reaching full operational capacity. Authorities noted…
The odds of U.S. Vice President Kamala Harris winning the 2024 presidential election have surged, bringing her neck and neck with former President Donald Trump on the decentralized prediction platform Polymarket. Both candidates now stand at a 50% chance of winning, according to recent data from the platform. Over the weekend, Harris’ odds rose from around 46% last Thursday, pushing her back into a tie with Trump. This comes after a volatile period where Harris briefly led Trump two weeks ago before losing ground. The market, which has seen over $732 million in bets, continues to fluctuate as election dynamics…
Binance will list Eurite (EURI) and open trading for two new spot pairs—EUR/EURI and EURI/USDT—on August 28, 2024, at 10:00 (UTC). To mark the launch, Binance will introduce a zero trading fee promotion for the newly listed pairs. Eurite (EURI) Listing Details: Zero Fee Promotion: Eligible users will enjoy zero trading fees on EUR/EURI and EURI/USDT spot and margin trading pairs during the promotion period. The zero-fee offer begins on August 28, 2024, at 10:00 (UTC) and will continue until further notice. About Eurite (EURI): Eurite (EURI) is one of the first EURO stablecoins regulated under the Markets in Crypto-Assets…