Crypto Guides, Knowledge & Insights

Ethereum Developer Banned From The US For 10 Years

Virgil Griffith, a famous developer of the Ethereum platform, has just been restricted by the US Government because of past crimes.　　According to Cointelegraph, the US government has banned the departure of programmer Virgil Griffith for 10 years. This order is expected to expire on April 12, 2032.　　In April 2022, Virgil Griffith was sentenced to 5 years in prison by the Southern District Court of New York for violating international embargo laws. Specifically, during a trip to North Korea, Griffith gave a lecture and provided knowledge related to Blockchain. This action is considered a serious violation of the embargo that the US is imposing on the Northeast Asian country.　　Attorney Geoffrey S. Berman even accused Virgil Griffith of conspiring to launder money and assist North Korea in evading sanctions. As a result, the former Ethereum programmer was sentenced to 63 months in prison, along with 3 years of supervised release. In addition, he must also pay a criminal fine of up to $100,000.　　Photo of Virgil Griffiths speech in North Korea, released by prosecutors.　　According to Virgil Griffiths testimony in court, in April 2019, he started a trip to Pyongyang, North Korea to attend an event on the topic of cryptocurrencies. Griffiths defense lawyer

2023-05-16Deep Dive

Do Kwon was released after posting $436,000 bail

The most controversial figure in the market, Do Kwon, has been granted bail by the Montenegro court, after paying a bail amount of up to 436,000 USD.　　Do Kwon was released on bail after posting $436,000 bail　　According to local newspaper Pobjeda, Terraform Labs founder Do Kwon will be released on bail pending trial after posting a bond of 400,000 euros, equivalent to 436,000 USD.　　Montenegro authorities arrested Do Kwon at Podgorica airport while trying to exit to Dubai with a fake passport. Kwon has been hiding from wanted warrants since the collapse of the Terra ecosystem, wiping out $60 billion in market capitalization in just a few days, shaking the entire crypto industry.　　Soon after, the US Department of Justice issued a criminal indictment accusing Do Kwon of fraud related to LUNA-UST. The US Securities and Exchange Commission (SEC) in February also filed a lawsuit against the CEO of Terraform Labs, accusing LUNA-UST of being a security.　　This morning, Do Kwon denied the charge of forging a passport and accepted to pay bail to be released on bail, awaiting the next trial on June 16.　　This week also marks a year since the collapse of LUNA-UST, bringing with it a dark page in the history

2023-05-16Deep Dive

CZ unfollows Elon Musk on Twitter

News has spread on Twitter that the head of Binance has stopped following Elon Musk.　　Today, several crypto-focused accounts tweeted that Changpeng Zhao, the CEO, and co-founder of exchange Binance, unfollowed Elon Musks Twitter account.　　Twitter WhaleChart with nearly 400,000 followers claims that the news “caused a shockwave” in the crypto community.　　Twitter user Pauly0x, the founder of Not Larva Labs, stated that CZ doesnt like Elon Musks idea of launching a crypto wallet for Twitter.　　The aforementioned Twitter account believes that once Musk launches a crypto wallet for Twitter, PEPE will be its currency. News has spread on Twitter that the head of Binance has stopped following Elon Musk.　　Last October, Twitter announced that it started developing its own crypto wallet. Earlier, Twitter introduced tips in BTC and ETC for content creators.　　However, after Elon Musk closed the Twitter acquisition in late October, in early November, Twitter announced that it was suspending wallet development.

2023-05-16Deep Dive

Scam Alert: Mysten Labs Warns of Token Spam on Sui Wallets

Mysten Labs has issued a public warning regarding an ongoing scam targeting Sui Wallets. The Web3.0-focused startup has identified unauthorized transactions occurring within certain Sui wallets, accompanied by the presence of spam coins. Users are advised to exercise caution when encountering unfamiliar objects or activities within their wallets. Meanwhile, Mysten Labs is actively working to address any potential security breaches and enhance the overall security of the wallets.　　A screenshot of a message claiming that the recipient had won 1000 SUI tokens and needed to claim them was shared by a crypto Twitter user. Another Twitter user, identified as Kingsamiami, raised suspicions that a member of the Sui development team might have been involved in the breach, as such an incident was not intended to occur.　　Sui Network Launched its Mainnet Now Live　　Mysten Labs recently launched the mainnet of their highly scalable layer 1 blockchain, Sui Network. Shortly after its launch, the blockchain introduced its native token, which serves various purposes such as staking, gas fee payments, and governance. The token quickly gained traction and was listed on major cryptocurrency exchanges including Binance, OKX, Bybit, Kucoin, and Upbit, the latest addition. The total supply of the Sui token was recorded at 10

2023-05-16Deep Dive

Can Crypto trading bring about financial freedom in Nigeria?

By: Damian Okonkwo 　　Cryptocurrency in Nigeria 　　Nigeria is one of the leading countries in Africa in terms of cryptocurrency adoption and usage. According to a report by Chainalysis, Nigeria ranks third in the world in terms of peer-to-peer cryptocurrency transactions, with over $600 million worth of transactions in 2022. The popularity of cryptocurrencies in Nigeria can be attributed to several factors, including high inflation rates, limited access to traditional banking services, and a large population of tech-savvy young people.　　Can Crypto trading bring about Financial Freedom for Nigerians？　　Financial freedom refers to the ability to live the life you want without being constrained by financial obligations. In Nigeria, achieving financial freedom is a challenge for many people due to a variety of factors, including high unemployment rates, low wages, and limited access to financial services. Crypto trading presents an opportunity for Nigerians to earn passive income and achieve financial freedom.　　How Crypto Trading can bring about Financial Freedom　　A. High potential returns: Cryptocurrencies are known for their high volatility, which presents both risks and opportunities. For savvy traders who understand the market, cryptocurrency trading can provide high returns on investment. With the right strategy, traders can make significant profits in a short amount

2023-05-15Deep Dive

Dogecoin Network Activity Skyrockets, Attracts New Investors And Boosts Market Sentiment

Key Points:　　Dogecoin transactions hit new all-time high of 650,000, surpassing Bitcoin and Litecoin.　　Surge attributed to increased interest in new digital asset on Dogecoin network. ???? Many see this as an opportunity to test scalability and potential for everyday transactions　　Dogecoin, the meme-inspired cryptocurrency, has recently witnessed a massive surge in network activity, with daily transactions reaching an all-time high (ATH) of 650,000, surpassing both Bitcoin and Litecoin.　　This unexpected uptick in activity is attributed to an increased interest in minting DRC20 tokens, a new type of digital asset, on the Dogecoin network. According to some experts, this surge in activity is a clear indication of the growing popularity of DOGE and its potential to challenge established cryptocurrencies in the market.　　Dogecoin developer Patrick Lodder had previously hinted at a significant increase in network activity, indicating that the cryptocurrency had a lot of untapped potential. Although the surge was noteworthy at the time, it was nowhere near today‘s unprecedented levels. Many in the crypto community see this spike as an opportunity to test Dogecoin’s scalability and robustness in handling a large volume of transactions. One user, going by the handle @SK_R402, suggested that the focus should be on the currencys potential for everyday transactions,

2023-05-15Deep Dive

Tron's revenue in Q1, 2023 surpasses $90 million

Tron is seeing significant expansion.　　According to a new report from the company Messari, the Tron blockchain saw an increase in usage in the first quarter of 2023.　　The three-month average daily transactions rose 7.7% to about 7 million.　　Messari claims staking activity on the network is to blame for this increase. The total number of transactions stemming from staking activity increased by 197% quarter-on-quarter, despite accounting for just under 3% of all transactions on the TRX network.　　Network operations were mostly unaffected even though the SEC sued several projects in the Tron ecosystem.　　The TRX system generated total revenue of $90.04 million in Q1 of 2023, an increase of 88% compared to Q4 of 2022 ($47.96 million).　　In the first quarter of 2023, transaction fees also spiked. Statistics show that the average transaction fees in TRX and USD increased by 59.2% and 80.2% respectively.　　The State of Tron report states that trading activity on the network is mainly dominated by smart contracts that are activated and transfer TRX, which accounts for 88% of the total.　　Also in Q1, total value locked (TVL) in USD increased by 18.8%. But TVL by TRX recorded a slight decrease of 0.5%.　　The top protocols that makeup TVL on the Tron network –

2023-05-15Deep Dive

Wiki Finance Expo and Huobi's Strategic Partnership will Promote the Global Development of Cryptocur

In recent news, the renowned cryptocurrency trading platform Huobi has announced an exciting strategic partnership with Wiki Finance Expo. This collaboration aims to capitalize on the unique strengths of both entities, effectively enhancing brand visibility and trust surrounding Wiki Finance Expo Singapore 2023. Together, they aspire to explore the future of the crypto space, make significant contributions to the industry, and foster an atmosphere of growth and innovation.　　The upcoming Wiki Finance Expo Singapore 2023 is scheduled to take place at the prestigious Sands Expo and Convention Center on May 27, 2023. Organized by Wiki Expo in conjunction with Wiki Bit, WikiFX, and Jinse Finance, this highly anticipated event will feature notable guests, including renowned actress Annie Yi, UBS ESG expert Menexenia Tsaroucha, Coinbases country director for Singapore Hassan Ahmed, and numerous other industry insiders. The expo will focus on the latest developments in finance, NFTs, cryptocurrencies, the metaverse, blockchain technology, Web 3.0, and other emerging segments.　　As a globally oriented exhibition centering around fintech and digital financing, Wiki Finance Expo plays a pivotal role in providing investors with exceptional opportunities within a secure environment. By carefully selecting highly regarded veteran exhibitors, leveraging resources from financial media platforms, and inviting industry experts

2023-05-15Deep Dive

Binance halting operations in Canada

In a tweet on May 12, Binance announced that it would be discontinuing its operations in Canada. The cryptocurrency exchange noted that it was not alone in proactively withdrawing from the Canadian marketplace, as other crypto companies had already done so.　　Although Canada was a small market for Binance, it held sentimental value and the company was optimistic about the countrys crypto sector. However, recent regulatory guidance in Canada had made it unfeasible for Binance to continue operating in the country, and the company said it had delayed its departure for as long as possible.　　Binance emphasized that it did not agree with the new regulatory guidance but intended to continue engaging with Canadian regulators. The company expressed a desire to return to the Canadian market when Canadian users once again have access to a broader suite of digital assets.　　Canadaian crypto exdus　　Earlier this year, Canadian securities regulators introduced new guidelines for crypto companies operating in the country. The new guidance mandates that crypto companies must submit pre-registration filings and comply with specific regulations. Under the guidelines, crypto companies must segregate funds of Canadian users and disallow margin or leverage trading for those users.　　Following the introduction of the new guidelines, several crypto companies

2023-05-15Deep Dive

Twitter Will Have New CEO As Elon Musk Resigns From His Position

Key Points:　　Elon Musk announced on Thursday that he has selected a new CEO for Twitter.　　Twitter has recently selected a CEO, who will take over in six weeks, according to the technology billionaire.　　Since taking charge, Musk has made modifications to content filtering and the blue-check verification mechanism.　　Elon Musk has announced his intention to stand down as CEO of Twitter.　　Musk, who purchased Twitter last autumn and has been operating it since then, has often said that he is not the company‘s permanent CEO. In a tweet on Thursday, the Tesla billionaire announced that he would become Twitter’s executive chairman and chief technical officer.　　He said that he had selected a new CEO for X Corp., Twitters parent firm, who would likely take over in late June or early July. The unknown lady will succeed Musk, who purchased the social media network for $44 billion in October 2022.　　He will be in charge of product, software, and system operations, according to the soon-to-be-former CEO. When Musk took over, he ousted prior CEO Parag Agrawal. Agrawal replaced Jack Dorsey, the platforms co-founder, who started it in 2006.　　Musk is a fervent proponent of cryptocurrencies, and he has voiced special fondness for the DOGE token meme. DOGE prices

2023-05-12Deep Dive

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