Crypto Guides, Knowledge & Insights

The Block: Bitcoin's Diverse Scaling Solutions, Lightning Network Leads with Almost $200M TVL

The Block Pro, on X platform, stated that various attempts have been made to achieve Bitcoin scalability so far. The Lightning Network stands out as the most significant scalability solution for Bitcoin, with a Total Value Locked (TVL) reaching nearly $200 million in 2023, primarily driven by the increase in Bitcoins price.　　Other Bitcoin scalability solutions like DeFiChain, Rootstock, and Stacks have lower TVL compared to the Lightning Network, possibly due to security trade-offs as they inherit only partial security from Bitcoin.　　Additionally, Bitcoin Ordinals allocate unique identifiers for satoshis, enabling them to function as NFTs. With the use of SegWit and Taproot upgrades, homogeneous BRC-20 tokens can be minted. These innovations resulting from the SegWit and Taproot upgrades demonstrate the potential of Bitcoin in areas like Layer 2 in the future.　　

2023-11-29Deep Dive

Ark Invest Increases Holding of Robinhood Stock by Nearly $2 Million Since Last Week

On Monday, Ark Invest increased its holdings in Robinhood by 143,063 shares through its Ark Fintech Innovation ETF, with a value of approximately $1.2 million. Additionally, Ark also added 93,297 shares of Robinhood stock through its ARK Next Generation Internet Fund last Friday, equivalent to about $780,000.　　The pre-market trading price for Robinhood stock is currently $8.41, experiencing a decrease of over 8% this month and only a 1.57% increase for the year. According to TradingView data, the stock has risen approximately 16% from its historical low of $7.19 but has declined about 85% from its peak of $55.01 in August 2021.　　

2023-11-29Deep Dive

67% of Distributed $199 Million MATIC from Polygon's Growth Address Now in CEX

According to on-chain analyst Yu Jin, on November 16, Polygon: Ecosystem Growth distributed 217 million MATIC tokens (approximately $199 million) to 70 addresses. As of now, 67% of these tokens (around $145 million) have been sent to centralized exchanges (CEX). Out of the 70 addresses, 40 have already transferred all the received MATIC to CEX.　　Since November 16, the price of MATIC has also declined by 21%, dropping from $0.93 to the current $0.73.　　Earlier on November 16, it was reported that the address labeled “Polygon: Ecosystem Growth” distributed a total of 217 million MATIC tokens (equivalent to about $199 million) to 70 addresses in the last 12 hours. Most of these addresses had received an identical amount of MATIC from the “Polygon: Ecosystem Growth” address approximately one year ago.　　

2023-11-29Deep Dive

DCG and Genesis Settle $620 Million Loan Lawsuit with $200 Million Repayment Agreement

Digital Currency Group (DCG) has reached a new repayment agreement with its distressed subsidiary, Genesis Global Holdco LLC, effectively ending Genesiss lawsuit seeking around $620 million from DCG.　　According to Sean ONeal, Genesiss lawyer, the new agreement stipulates that DCG will make approximately $200 million in payments to Genesis in the coming weeks. DCG is required to settle the remaining unpaid amount by April 2024. If DCG defaults, Genesis has the option to attempt to collect all outstanding payments.　　The repayment by DCG will be part of Genesiss proposed compensation plan for its creditors, subject to a vote by the creditors. Genesis states that this agreement will avoid months of expensive litigation with its parent company. Sean ONeal mentioned that the agreement still doesnt resolve other disputes related to DCG in Genesiss bankruptcy resolution.　　Genesis filed the lawsuit in September, seeking to recover unpaid loans from its parent company, DCG. According to court documents, DCG has been making payments to Genesis since the lawsuit was filed. However, as of November 28, DCG still owes its subsidiary $324.5 million.　　

2023-11-29Deep Dive

Spartan Group Managing Partner: Short Position Information Leaked by a Major Cryptocurrency Exchange

Spartan Group Managing Partner Kelvin Koh stated on the X platform that while trading on a significant large centralized crypto exchange, they discovered that the exchange leaked their short position information to certain contacts within the industry. He mentioned that this breach violated the confidentiality of customer information. As a result, they decided to terminate their trading activities on this exchange.　　Kelvin Koh expressed shock over the incident, especially at how easily this information was shared. If any exchange employee can access customer trading positions and share them with random parties, it suggests that the exchange lacks proper control measures. Additionally, the exchange in question is one of the largest centralized exchanges, prompting him to call for stricter regulations on centralized exchanges.　　

2023-11-28Deep Dive

CoinShares: Digital Asset Investments See Largest Weekly Inflow in Nine Consecutive Weeks

CoinShares report reveals that the total inflow of funds into digital asset investments last week amounted to $346 million, marking the largest single-week inflow in nine consecutive weeks. The funds flowing into Bitcoin last week totaled $312 million, with the year-to-date inflow slightly exceeding $1.5 billion. Ethereum attracted $34 million in fund inflow last week, bringing the four-week cumulative fund inflow to $103 million, approaching a positive total for the year.　　

2023-11-28Deep Dive

UniSat: Ordiscan Indexer Error; UniSat Fully Compliant with Latest BRC-20 Standard

UniSat posted on the X platform, stating that they checked addresses on four different indexers. The data from UniSat, OKX, and Ordinalscan indexers were consistent. However, the data from Ordiscan indexer did not match the former, and some errors were identified, such as an inability to accurately handle decimals.　　UniSat mentioned that its indexer is fully compatible with the latest BRC-20 standard. Since March, UniSats indexer has demonstrated robustness and reliability through multiple comparisons. Although the whitelist module is not yet activated, making forks practically impossible, UniSat committed to providing the source code and documentation promptly to assist known indexers in implementing the modular proposal.　　UniSat pledged to ensure that its indexer is compatible with the standard, operates at high speed, and is developer-friendly as long as it supports the BRC-20 standard.　　

2023-11-28Deep Dive

Hong Kong VAEXC Limited Submits Application for Virtual Asset Trading Platform License to SFC

The Securities and Futures Commission of Hong Kong has updated the list of applicants for virtual asset trading platforms. According to the latest information, Hong Kong VAEXC Limited submitted its application for a virtual asset trading platform license on November 25.　　As of now, a total of eight companies have formally submitted applications for virtual asset trading platform licenses to the Securities and Futures Commission of Hong Kong. Additionally, the application from AMMBR (HK) LIMITED has been withdrawn.　　

2023-11-28Deep Dive

Scam Service Provider "Inferno Drainer" Announces Closure

Scam service provider “Inferno Drainer” and its team announced on November 26th in their Telegram group that they would permanently shut down.　　Inferno Drainer offered users phishing tools and extracted a 20% commission from funds stolen from users. According to the analysis by the Web3 anti-scam platform Scam Sniffer, Inferno Drainer has embezzled nearly $70 million from victims exceeding 100,000 since February. However, the Inferno Drainer team claims the amount stolen exceeds $80 million.　　Blockchain security company CertiK stated that Inferno Drainer was one of the most destructive phishing toolkits in the community. Despite its closure, numerous other service providers remain active, including competitors like Pink Drainer and Angel Drainer. The latter released an update on November 25th to assist users in siphoning funds from victims wallets on more blockchains.　　

2023-11-27Deep Dive

Atomicals Market: Will Soon Release Investigation Report and Compensation Plan

Atomicals Market on X Platform has announced that the team is currently investigating the recent user losses involving $ATOM. They plan to release a detailed incident report and compensation plan shortly.　　Earlier reports on November 24th revealed that Erik (@BRC20Coins), the founder of Atomicals Market, would no longer hold a managerial position. In response to losses incurred in the two “0-dollar purchase” incidents, all 33,000 $ATOM would be fully compensated by the new team within a week of the transition.　　Yesterday, Atomicals Market posted on X Platform, advising all users who had placed orders on Atomicals Market to ensure the safety of their assets by promptly transferring them to new addresses.　　

2023-11-27Deep Dive

...

4547

...

738

Latest News

WikiBit Exchange Exit Risk Ranking Episode 5: Tapbit — A “One MSB Sticker Fits All” Exchange, the Borderless Casino on France’s AMF Blacklist

WikiBitWithin 1 weeks

Bernstein sees new USDC growth cycle, sets $140 Circle price target

WikiBitWithin 1 weeks

Bitcoin price hits $80K as 24-hour crypto short liquidations pass $220M

WikiBitWithin 1 weeks

From a “European Established Compliant Exchange” to a “Withdrawal Hell”: Zondacrypto Collapse Exposes the Most Dangerous Illusion — A License ≠ Safety

WikiBit3 days ago

WikiBit Exchange Exit Scam Risk Ranking – Episode 6: Coincheck: Hacked for $530 Million, Acquired by a Financial Giant, Listed on Nasdaq — The Ice and Fire Saga of Japan’s “National Exchange”

WikiBit2 days ago

WikiBit Exchange Exit Risk Ranking Issue #8 — Azbit: Backed by Roger Ver, Publicly Called Out by Seychelles FSA — An Offshore Casino Riding on a “Celebrity Endorsement”

WikiBit14 hours ago