Barstool Sports founder Dave Portnoy has watched his investment in SafeMoon (SAFEMOON) crash by over 94%, proving to crypto enthusiasts that he is, in fact, capable of hodling during the bear market. The stock trader and media personality took to Twitter Monday to lament his $40,000 investment in the meme coin, which has fallen to
Month: August 2022
Roman Semenov, one of the co-founders of Tornado Cash, has reported his account was suspended at the developer platform, GitHub, following the United States Treasury Department’s sanctioning of the privacy protocol. In a Monday tweet, Semenov said that despite not being individually named as a Specially Designated National, or SDN, of Treasury’s Office of Foreign
Bitcoin is likely to transition from a risk-on to a risk-off asset in the second half of 2022, as the macroeconomic environment is rapidly shifting towards a recession, said Mike McGlone, senior commodity strategist at Bloomberg, in a recent interview with Cointelegraph. McGlone predicted: “ I see it transitioning to be more of a risk-off asset
The United States equities markets and the cryptocurrency markets have started the week on a strong note, indicating that traders are not nervous about buying ahead of the important Consumer Price Index (CPI) data for July, which will be released on Aug. 10. Another positive sign is that the recent recovery in Bitcoin (BTC) has
Summary: Chainlink has declared its stance regarding the upcoming Ethereum PoS transition and possible network hard forks. The oracle network supports Ethereum’s upgrade to a Proof-of-Stake consensus. Forked versions of ETH’s Proof-of-Work blockchain will not be supported by the protocol. The news comes as speculations regarding a hard fork have emerged in recent weeks leading
Bitcoin (BTC) goes into another key macro week in the United States with a welcome break to the upside. After avoiding a now-familiar breakdown around the weekly close, BTC/USD is surging higher at the time of writing on Aug. 8 to once more tackle resistance in place for two months. Can the bulls win out?
The fifth annual Korea Blockchain Week kicked off on Sunday, with more than 7,000 people attending Asia’s largest blockchain event of 2022. The Seoul-based event is set to run its main-stage sessions on Aug. 8 and 9, while side events such as music festivals and nonfungible token (NFT) art galleries will go through until Aug. 12.
The ongoing cryptocurrency winter has triggered an overall decline in interest in centralized crypto exchanges (CEX), but some crypto trading platforms have seen a rise in website traffic. A few major global crypto exchanges, including Sam Bankman-Fried’s FTX, have experienced a significant increase in web traffic despite the bear market of 2022, according to the
Cointelegraph’s Brian Newar spoke with Alex Svanevik, the CEO of blockchain data firm Nansen at the Korea Blockchain Week (KBW) 2022 held in Seoul and discussed topics like the upcoming Ethereum (ETH) Merge and how it will affect other blockchains. According to Svanevik, the industry witnessed a spillover effect in the last bull run. He
Deliberately insufficient policy responses by successive Lebanese governments combined with the self-serving agreements by politicians are largely to blame for the country’s economic crisis, a report by the World Bank has said. The report concludes that the country needs to seriously engage “in the macro-fiscal, financial, and sector reforms the World Bank has been stressing
Deriving their names from the size of the massive mammals swimming around the earth’s oceans, cryptocurrency whales refer to individuals or entities that hold large amounts of cryptocurrency. In the case of Bitcoin (BTC), someone can be considered a whale if they hold over 1,000 BTC, and there are less than 2,500 of them out
Zero-knowledge (ZK) rollup tech company StarkWare founder Eli Ben-Sasson says its new Recursive validity proofs could theoretically roll up as many as 60 million transactions into one on the Ethereum blockchain. The zkSTARK co-inventor made the comments to Cointelegraph during ETH Seoul on Aug. 7 after announcing the start of production of StarkWare’s new Recursive
The United States jobs data on Aug. 5 was above market expectations, indicating that inflation has not cooled down. The strong numbers reduce the possibility that the U.S. Federal Reserve will slow down its aggressive pace of rate hikes. After the release, the likelihood of a 75 basis points hike in September has risen to
Blockchain technology has spawned many applications over the past few years, the most popular being cryptocurrencies. It has also facilitated the creation of many decentralized, secure and transparent marketplaces in the digital economy. Offering far more trust since all transactions are immutably recorded on the blockchain, this technology has been well supplemented by the smart
On August 5, 2022, the American luxury jewelry retailer Tiffany & Co. announced that the company’s non-fungible token (NFT) mint called “Nftiff” sold out. Tiffany’s sold 250 Nftiffs for 30 ethereum per Nftiff raking in more than $12.5 million from the sale. The NFTs created by Tiffany’s have to be redeemed by August 12 and
We ask the buidlers in the blockchain and cryptocurrency sector for their thoughts on the industry… and throw in a few random zingers to keep them on their toes! This week, our 6 Questions go to Tongtong Bee, co-founder of Panony — an incubator, investor and adviser for blockchain and Web3 business. I’m Tongtong Bee,
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