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Trade volume of the Russia n rouble and largest ‘stablecoin’ Tether rose drastically amid the Wagner Group’s failed insurrection, as Russia ns withdrew over $1 billion from local banks in a bid to find alternatives, Financial Times (FT) reports. USDT-RUB jumped 277% on June 24 when Wagner Group leader Yevgeny Prigozhin ordered his troops to move on Moscow, from $3.9 million to $14.7 million, according to CCData. This was the highest volume recorded for the trading pair since it climbed to over $21 million in July 2022. When the military leader ordered his troops to retreat the next day, volume went back down to $3 million. Meanwhile, the rouble has shed a half of its value over the past six months and reached over 90Rbs per US dollar this month — its lowest point since Russia first invaded Ukraine. However, the surge in trade volume has reinforced existing concerns of illicit activity. According to the former chief of staff at the Commodity Futures Trading Commission (CFTC), Char...

Similar to other DeFi projects in the crypto space, Curve Finance depends on different decentralized software built atop the blockchain technology. In a tweet on Sunday, July 30, Curve tweeted that the exploit happened in a particular version of Curve’s programming language Vyper. It noted: advertisement A number of stablepools (alETH/msETH/pETH) using Vyper 0.2.15 have been exploited as a result of a malfunctioning reentrancy lock. We are assessing the situation and will update the community as things develop. Other pools are safe. PSA: Vyper versions 0.2.15, 0.2.16 and 0.3.0 are vulnerable to malfunctioning reentrancy locks. The investigation is ongoing but any project relying on these versions should immediately reach out to us. — Vyper (@vyperlang) July 30, 2023 Recommended Articles Crypto Presale Projects For 2023 To Invest; Updated List ...

The crypto market consists of various tokens, including those with finite, deflationary, and infinite supplies. Deflationary tokens are often deemed valuable due to the consistent reduction of supply. The token burning strategy has made DigiToads and Ethereum more popular, an effect that has supported prices . Considering their approach, their respective circulating supplies are decreasing at a faster rate than Bitcoin. In this article, we will delve into the burning strategy adopted by DigiToads and Ethereum.  DigiToads: the deflationary P2E and NFT token Although DigiToads is a relatively new entrant in the crypto market, it blends different niches, attracting investor interest. This is evident in the over $6.4 million raised in the ongoing presale DigiToads is popular due to its fundamentals spanning a play-to-earn (P2E) game and non-fungible tokens (NFT). The project is also gaining traction because of its TOADS deflationary token, growth, community, and what investors sa...

Crypto enthusiasts and experts have observed an enormous growth potential in Tradecurve (TCRV), and they want to join the project from an early stage to fetch the maximum benefits. Meanwhile, long-standing projects like Binance (BNB) and Bitcoin (BTC) have succumbed to market pressure.  If you wish to stay ahead of the game in this dynamic crypto world, Tradecurve is the best investment option to choose. Its ongoing PR esale has been making big waves since inception, and is selling out at a historical pace.  Register For The Tradecurve Presale SEC Files Lawsuit Against Binance (BNB) The US Securities and Exchange Commission has filed a civil lawsuit against Binance (BNB), the world’s largest crypto exchange. The lawsuit has accused Binance of “calculated evasion of the law,” and misusing customers’ funds. The SEC said that Binance permitted US residents to trade despite being an unregistered security exchange in the country.  The SEC’s lawsuit has come months after the ...

Also Read: Mike Novogratz Says “Democrats are Shooting Themselves in the Foot” advertisement Big Win For SBF? Sam Bankman-Fried has been charged with campaign finance violations and fraud charges by the US court. He was extradited from the Bahamas after the horrible collapse of FTX. However, the Federal prosecutors now want the campaign finance rules violation to be dropped. As per the court filings, the prosecutors highlighted that they received information from a Bahamas representative. It suggests that the nation’s government did not intend for the FTX founder to commit campaign finance violations. However, FTX’s bankruptcy lawyer asked the donation recipient to return the funds. The dropping of crucial campaign funding charges has been seen as a victory for SBF, who is under house arrest. However, his legal team earlier argued over several faults that happened during the extradition process. Recommended Articles...

The Twitter user who initially registered the @X handle had their profile forcibly changed after Elon Musk rebranded the social media platform to X. Twitter is currently undergoing a rebrand to X after owner Elon Musk grabbed headlines when he announced that the 17-year-old social media platform he acquired in 2022 would have a new name, logo, look and feel on July 24. X will serve as the new name of the social media platform and a broader ecosystem platform that Musk intends to develop. According to a screenshot shared on the alternative social media platform Stacker.News, representatives of X emailed a user that had initially registered the @X Twitter profile, informing them that the platform would take over the account. A screenshot of an email shows Elon Musk’s rebranded X social media platform offering a user merch andise and a trip to company headquarters after taking over their profile name. Screenshot of the email sent by X to the user. Source: Stacker.News The user was told t...

Google and OpenAI create the Frontier Model Forum to address AI safety. Microsoft’s President said the initiative will advance responsible AI for humanity. Crypto experts have previously raised privacy concerns about AI. Just a few days after the CEO of OpenAI, Sam Altman, launched the Worldcoin (WLD) token, tech giants Google and OpenAI are taking proactive measures to ensure the safety and accountability of AI models by establishing an industry regulatory body. According to the report, the move was in response to mounting concerns over the rampant growth of artificial intelligence (AI) technology. Anna Makanju, Vice President of Global Affairs at OpenAI, stated that it is an urgent endeavor, and the forum is well-prepared to make swift advancements in AI safety. The coalition, known as the Frontier Model Forum, is also receiving support from AI startup Anthropic and Microsoft, with the shared objective of pooling their collective expertise to estab...

Crypto lawyer John Deaton affirms the SEC’s senior officials are split on what to do regarding the outcome of the SEC vs. Ripple case. The crypto lawyer believes that the SEC could opt for one of two ways, and that both routes have implications for the crypto space. Meanwhile, XRP traded at $0.7008 after it gained 1.8% over the past day. Pro-XRP advocate John Deaton believes the senior officials of the U.S. Securities and Exchange Commission (SEC) are split on what to do regarding the outcome of the SEC vs. Ripple case. Over the past few days, several crypto lawyers have been speculating about the SEC’s future actions and about the possibility of an appeal. I believe this is he biggest and hottest debate at the SEC and I believe there are Senior SEC officials who are split on what to do. Some will say don’t appeal and the SEC can argue “facts and circumstances” and that XRP is a unique story, one not shared by other tokens. If you… https://t.co/mIA64MwZvd ...

Robinhood has been planning expansion into the United Kingdom since 2019 but the project has faced multiple delays. Cryptocurrency-friendly trading platform Robinhood is moving forward with plans to launch services in the United Kingdom with a new major local appointment . Robinhood has appointed former Barclays executive Jordan Sinclair as the new CEO to run its United Kingdom entity, according to data from the Financial Conduct Authority. According to FCA, Sinclair was approved by the authority to perform the CEO role at Robinhood’s U.K. arm on July 18. Prior to joining Robinhood, Sinclair was a managing director at the European fintech Freetrade for 13 months, according to his LinkedIn profile. The new Robinhood’s executive also worked as director of group strategy at the financial firm Barclays and corporate banker at Wells Fargo. The latest hiring comes in line with Robinhood’s long-running plans to launch a platform in the United Kingdom. Robinhood’s U.K. expansion has been rum...

The Bitcoin Implied Volatility Index has fallen to its lowest levels since the crypto options exchange launched the tracker in early 2021. Crypto options exchange Deribit's future-looking Bitcoin (BTC) volatility index — used as a crypto fear gauge of sorts — has reportedly reached its lowest level in two years, indicating a possible lack of price turbulence for Bitcoin in the near future.  On July 24, crypto derivatives analytics platform Greeks Live noted that the volatility index for both Bitcoin and Ether (ETH) has fallen to a multi-year low of 37%. Furthermore, the current implied volatility level has fallen to the lowest level in crypto's history according to the DVOL algorithm, it added. The Dvol (Volatility Index) for BTC and ETH fell to 37%, the lowest level in history since two years ago, and the current Implied Volatility level, as projected by Dvol's algorithm, has fallen to the lowest level in crypto's history. Continued low liquidity has severely depre...

With inflation running high and sluggish UK banking interest rates, small businesses in the United Kingdom are turning to novel solutions to save money. An online carpet and flooring retailer based in the United Kingdom has bought Bitcoin (BTC) and put it on the balance sheet, following in the footsteps of Tesla, Microstrategy and Real Bedford.  Speaking with Cointelegraph, CEO of Flooring Hut, Paul Brewster explained that: “We see it [Bitcoin] as an asset that has probably the best potential for growth of our capital reserves at the moment.” He explained that the group decided against keeping their cash reserves in a bank account, as Bitcoin could provide the greatest potential for providing returns which ultimately delivers greater value for customers. According to Companies House, the British Government agency that maintains the register of U.K. companies, Flooring Hut’s accounts from 2023 showed cash reserves of £75,105, which at time of writing could afford roughly 3.3 BTC. Fl...

Join Our Telegram channel to stay up to date on breaking news coverage What: Celsius Network reaches crucial settlements for asset return and bankruptcy conclusion. Why: Resolving customer fraud claims and disputes between depositors and borrowers. When: Court filings on Friday; responses due by August 3. Celsius Network has reached two crucial settlements that could potentially lead to the return of assets to its customers and the conclusion of its bankruptcy proceedings, according to court filings on Friday.   Celsius Network’s Pivotal Settlements Bring Hope for Asset Return and Bankruptcy Conclusion Last year, the prominent cryptocurrency company, catering to retail investors, filed for bankruptcy, leaving numerous customers uncertain. In response to customer claims of fraud and misrepresentation by the previous Celsius management, a settlement has been reached to enhance recoveries by 5%. This settlement involves 30,000 claims seeking $...

The company cited that it will cease operations of its exchange services as part of the shareholders' decision to restructure the business to focus on Cashlink. Nigerian social payment s app, Bundle announced on July 20 that it is shutting down its crypto exchange arm.  According to a statement released on the company blog, explaining that it is ceasing its crypto exchange operations as it focuses on expanding the services of Cashlink as a payment solution. Bundle stated that it will cease operations of its exchange services as part of the shareholders' decision to restructure the business to focus on Cashlink. Screenshot of Bundle press release statement. Source: Bundle In the statement, the company cited that this decision by its shareholders is a result of the observed growth of the Web3 and blockchain community and hence the need to focus on payment solutions that meet the ecosystem's needs. In the company’s press release, it confirmed that users won’t be able to si...

On July 19, the PleasrDAO’s head of operations announced a Twitter hack that resulted in the takeover of the organization’s account . Moreover, the head of operations Juan PaDulanto also noticed that the account of another team exec, Jamis, was taken over while he was recovering from a traumatic brain injury. He estimates that people lost over $1.2 million through interactions with the fake site/tweets. Zachxbt, a renowned on-chain sleuth and rug pull survivor, points to the address linked to the malicious activity, 0xCb721B27CA670C806A6aAA9AC9DF6D065d24bCd5. It has reportedly been the epicenter of a staggering $1.2 million (equivalent to 654 ETH) theft. Yesterday my associate in pleasing @_jamiis was hacked, and our @pleasrdao account was taken over and it appears people lost over 1.2m USD by interacting with the fake site/tweets Saddens me that this happens on the tail of Jamis recovering from a traumatic brain injury for the… https://t.co/MlXfzauKfq — jAPEs ...

Senator Kennedy Jr. questioned SEC Chairman Gary Gensler’s authority and the SEC’s competency in handling crypto fraud at a Senate Committee hearing on July 19. The focus of the debate was FTX, a crypto exchange founded by Sam Bankman-Fried. Senator Robert F. Kennedy Jr. described him as over-haired and underdressed. The senator expressed disbelief that the SEC had not taken proactive steps to investigate FTX, considering its founder’s high-profile activities and ambitions. Kennedy Jr. argued that the SEC’s regulatory machinery was designed to ensure transparency and combat fraud. However, it appeared to have fallen short in this disruptive new industry. He criticized the agency for not sending investigators to probe FTX and halting its operations until essential questions were answered. During the exchange, senator Kennedy Jr. further questioned why the SEC hadn’t been curious about the source of Bankman-Fried’s wealth. He humorously stated...

A popular Bitcoin price model returns to center stage as BTC’s next halving approaches. Bitcoin is struggling to reclaim its psychologically important level of $30,000 as analysts predict that choppy accumulation may last for months. Bitcoin (BTC) soared to a new yearly high of over $31,800 on July 13, driven by optimism surrounding the potential approval of exchange-traded funds (ETFs) in the United States and Ripple’s landmark legal victory in its case against the U.S. Securities and Exchange Commission regarding the classification of XRP (XRP) as a security. However, five days after the pump, BTC closed below $30,000 as buyers struggled to push the price back above the crucial support level. Despite Bitcoin’s price showing weakness in the short term, historical on-chain movements and empirical data suggest that the worst days of the bear market are likely over. Long-term holders are unmoved, but short-term investors could sell Glassnode’s latest report shows that Bitcoin’s price ac...

Prime Trust has been placed in receivership following a Nevada court approval of a petition against it. The crypto custody firm owes clients millions of dollars in fiat and crypto. Prime Trust, a once-bubbling digital assets custody firm, has officially been placed in receivership by Nevada authorities. Insolvent or near-insolvent companies are placed in receivership mode to enable the smooth running of the outfit by an authorized entity and realize its assets for debt repayments. John Guedry has been appointed as the Prime Trust receiver. The Nevada Financial Institutions Division (FID) petitioned for receivership of Prime Trust in June, citing operational instability and insolvency risks .  The court has put Prime Trust in receivership pending a hearing in August.  You might also like: Nevada regulator petitions for receivership of Prime Trust Prime Trust’s issues Prime Trust’s woes reportedly began in late 2021 when the company lost access to some of its crypto w...