Author: Faheem Riaz

Hong Kong’s New Crypto Regulations are facing some amendments in the regulatory framework, especially concerning over-the-counter transactions in virtual asset trading services. According to some recent South China Morning Post reports, the Securities and Futures Commission and the Customs and Excise Department may work parallel to overlook the crypto sector. The abovementioned changes would mean significant change from the current structure where the C&ED is responsible for OTC services. These services facilitate large private Crypto Currency transactions that do not necessarily need to go through Public Exchanges. The South China Morning Post pointed out that the SFC may regulate OTC…

Crypto scams are surging in 2024, leading to a spike in Inferno Drainer usage. After seeing the bullish momentum in the crypto market, the number of users of Decentralized applications using Inferno Drainer has increased three times, as scammers are putting their all efforts into stealing people’s funds. According to Web3 security firm Blockaid, the number of people using this tool increased by 40,000 by the end of July. “At the beginning of the year, we saw about 800 new malicious DApps per week. Now, that number has tripled to 2,400 per week,” Oz Tamir, Blockaid’s research and development explained.…

The United States spot Ethereum ETFs turn positive even after recording a major outflow in Greyscale ETF funds of $2B. Ethereum Exchange-traded funds recorded a net inflow of $26.7 million on August 1 injected by BlackRock’s fund. On August 1, the net inflow witnessed by the Ethereum ETF was $26.7 million, injecting $89.6 million of funds into iShares Ethereum Trust and BlackRock‘s trust, as per Farside Investors data. While seeing a total outflow, only GreyScale Ethereum ETF witnessed an outflow of $78 million on the day of its launch, and the total outflow reached $2 billion when converted into spot…

The spot Ethereum ETF witnessed the first massive inflow of $34 million after bleeding for four consecutive days, since its launch. After 7 days of its launch, the asset encountered a flood of outflow led by Grayscale’s Ethereum Trust which made the asset lose its worth in the beginning trade. After the approval of the spot Ethereum ETF from the SEC, the asset became the center of attention for its possible demand and performance. Some expert’s analyses showed that the asset will not get as much attention as the Bitcoin ETF due to unclear narratives, demand, and media narratives. Katherine…

Former president of the United States Donald Trump’s pro crypto speech at the Bitcoin 2024 conference in Nashville, Tennessee didn’t attract big investors as some analysts predict it may have a temporary effect on the BTC price. In his speech, he revealed his plans for crypto to make the U.S. a dominant shareholder in BTC if re-elected for the Presidential seat. Before Trump started his speech, at that time BTC was trading at $68,626. In just 30 minutes the leading cryptocurrency gained $500 in its price, but after the speech started, it retreated to its price. At the time when…

MetaMask, launched as a browser extension in 2016 is considered one of the most interactive wallets for DeFi applications. It offers a wide variety of functions and is easy to use which is the base of its popularity. The wallet is available in extensions on Chrome, Internet Explorer, and other Internet browsers, however, in 2020 it got a face of mobile application for Android and IOS. While working as a crypto wallet, MetaMask also acts as an ID card and is capable of managing tax reporting for users. A public address is generated by the wallet to identify accounts in…

A new meme coin named Poodlana is set to launch on July 17, with a 30-day presale and an opening price of $0.02 per POODL token. It is based on the famous Asian dog breed and fashion accessories. After a major dip, cryptocurrencies are starting to regain momentum, and meme coins are joining the trend. Leading the pack is Poodlana, a meme coin that adds the charm of Asia’s hottest fashion accessory, the poodle, to the Solana network. After the successful journey of dog-themed tokens Dogecoin, and Shiba Inu, Now Poodlana is getting attention, especially in Asia, where Japan and…

When there were fewer Bitcoins for sale on trading platforms, large Bitcoin buyers rapidly acquired enough Bitcoins. Large Bitcoin purchasers preyed on the June 1 decline in price by buying 20,600 BTC together, which came in at $1.38 billion. According to CryptoQuant, a blockchain data analysis business, it was the largest day for large Bitcoin buyers since February 28. At that time, exchange-traded funds (ETFs) for Bitcoin were only getting started. The price of Bitcoin was almost at its peak. Bitcoin whales were receiving between 1300 and 2200 bitcoin daily, even though the price of Bitcoin had fallen from $71,650…

The program aims to teach many Africans about the Fourth Industrial Revolution (4IR) like robotics, AI, and data science. Big Tech company Intel, and The African Development Bank together teach 30,000 government officials and three million Africans about advanced artificial intelligence skills. This cooperation came to light during the most recent AFDB Annual Meetings In Nairobi, Kenya. The aim is to revolutionize the digital landscape in Africa as stated on the AfDB website. Advancing Africa’s Digital Revolution The main purpose of the project is to help Africans learn important skills for the Fourth Industrial Revolution (4IR). It involves robots, working…

Wintermute CEO Evgeny Gaevoy raised a concern about the downfall of Ethereum, stating that if this project collapses, it will not be a technical issue but the potential internal contradictions among the leaders. Wintermute stated, “You are either building capitalism or planned socialism,” pointing to some officials like Vitalik Buterin, Hayden Adams, and the community members. He further stated that they have to choose either capitalism or socialism, but they can‘t move in parallel with both ideologies. The statement came in response to criticism of one of the celebrity coins. “If ETH fails in the future it won’t be because…