OKX, a cryptocurrency exchange, has announced that its wallet will soon support Bitcoin (BTC) Ordinals and BRC-20 tokens trading. In a statement released on May 16, the exchange stated that it will allow support for BRC-20 token trading and BTC cross-chain swap this week, with support for Ordinal inscriptions and token casting to follow in
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South Korean authorities have raided two major digital asset exchanges, Upbit and Bithumb, along with blockchain platform Kakao Klip, as part of an investigation into suspicious cryptocurrency transactions made by National Assembly member Kim Nam-kuk. The politician has been accused of owning around 800,000 Wemix coins worth $4.5m in 2021 and transferring them between the
Bitcoin (BTC) experienced consolidation during today’s trading session as investors awaited the publication of the latest US retail sales figures. Inflation has fallen, and analysts are predicting that sales for April will rise by 0.8% following two months of declines. BTC/USD hit an intraday low of $26,878.95 on Tuesday after an earlier high of $27,646.35.
Justin Sun, the founder of Tron (TRX), has accused Li Wei, the brother of Huobi exchange founder Li Lin, of obtaining Huobi Tokens (HT) for free and selling them for millions on the platform. Sun made these allegations on Twitter, stating that Wei received the HT tokens at no cost when they were initially distributed
The crypto industry is no longer just a backlash to traditional finance as it has recreated both fractional reserve banking and a shadow banking crisis. While people in crypto were initially distrustful of traditional banks, they still wanted the benefits of maturity transformation, hence the rise of crypto shadow banks. However, these companies operate without
The European Union has given its final approval for the world’s first comprehensive set of rules to regulate crypto assets, known as the Markets in Crypto-Assets (MiCA) regulation. This decision has put pressure on countries like the United States and the United Kingdom to follow suit. The regulations, which are expected to take effect from
Lido DAO’s price has rebounded to its three-week high of $2.21 as of May 16, up 40% when measured from its local low of $1.57, established four days ago. This impressive recovery appeared in tandem with other top-ranking crypto assets, including Bitcoin (BTC) and Ether (ETH). However, LDO has greatly outperformed the broader crypto market,
China has announced plans to train 500,000 blockchain professionals through the newly launched National Blockchain Research Center. In 2018, Chinese President Xi Jinping identified blockchain as a growth sector, leading to a surge in blockchain salaries in the country. However, Chinese blockchain activities have since slowed down. To reinvigorate the sector, Beijing has established the
Despite rallying nearly 60% in 2023 to around $27,000, Bitcoin’s price has failed to move beyond $30,000 decisively. A price correction towards $25,000 over the past week has strengthened Bitcoin’s correlation with several traditional financial metrics. The main question now is whether this raises the risk of Bitcoin continuing its downtrend in Q2. The U.S.
The US central bank, Federal Reserve (Fed), raised the federal funds rate to 5.25% on May 3, 2023, after a quarter-point rate hike. Fed chair Jerome Powell highlighted that inflation was still a major concern, and the Fed’s goal was to bring down the current inflation rate of 4.9% to the target of 2%. Even