Crypto Guides, Knowledge & Insights

LHV Bank Founder, an Ethereum ICO Participant, Offers to Share $4.5 Billion ETH with White Hat Hacke

On November 7th, it was revealed by Coinbase executive Conor on social media that the owner of a wallet address holding 250,000 ETH and having no transactions in the past 9 years is Rain Lohmus, the founder of LHV Bank.　　Rain Lohmus is known to have purchased these 250,000 ETH in an ICO for $75,000 in 2014. The current value of these ETH is approximately $450 million. Unfortunately, he has lost access to the wallet due to missing keys. Rain Lohmus has expressed his willingness to share these ETH with anyone who can recover the wallet.　　

2023-11-08Deep Dive

Gemini CTO Departure Reflects Crypto Industry Struggles

Gemini CTO departure occurs amidst ongoing staffing challenges. Tiwana, also CEO for Gemini APAC, worked to revamp the companys culture. Gemini faces regulatory scrutiny and a legal battle with Genesis and Digital Currency Group.　　Pravjit Tiwana, the global chief technology officer of Gemini Trust Co., is leaving the firm founded by Tyler and Cameron Winklevoss. Tiwana, who is also the chief executive officer for Gemini APAC, the companys business in Asia, is departing this month.　　This news comes amidst Gemini‘s battle with crypto lender Genesis and its parent company, Digital Currency Group, which has involved public disputes between DCG’s founder Barry Silbert and the Winklevoss twins.　　Gemini CTO Departure Amidst Controversies and Disputes　　Before joining Gemini in January 2022, Tiwana spent over six years as a general manager at Amazon Web Services. During his tenure at Gemini, Tiwana aimed to transform the company‘s culture to resemble Amazon’s, resulting in some employees leaving. His responsibilities included overseeing product, engineering, and design, as well as establishing the companys operations in India.　　Gemini is currently facing regulatory scrutiny, with the US Securities and Exchange Commission alleging that Geminis partnership with Genesis, known as the Earn program, involved an unregistered offer and sale of securities.　　Tyler Winklevoss has dismissed the

2023-11-08Deep Dive

BitMEX Founder Arthur Hayes Warns That BlackRock ETF May Kill Bitcoin

Arthur Hayes, a cryptocurrency pioneer and founder of Maelstrom Fund, warns that a large BlackRock ETF may kill Bitcoin by centralizing the currency and aligning it with state interests.Hayes Warns that BlackRock ETF May Kill Bitcoin by Centralizing the Crypto Space　　Hayes presents a hypothetical scenario where traditional financial figures and institutional entities acquire a significant portion of freely traded Bitcoin. He speculates that these institutions could introduce Bitcoin mining ETFs, highlighting BlackRock‘s involvement in mining operations. He raises concerns about asset managers like BlackRock, referring to them as “agents of the state” who act according to state directives. If compliant institutional entities hold cryptocurrency in an ETF, it aligns with the state’s desire for citizens to remain within the fiat banking system for taxation purposes.　　Hayes argues that the actual use of Bitcoin becomes limited as it becomes a financial asset rather than a decentralized currency. Users exchange their fiat for a derivative, and the asset manager stores Bitcoin in a custodian. BlackRock ETF may kill Bitcoin because it could result in a massive amount of immovable Bitcoin, potentially harming the cryptocurrency.　　BlackRock ETF May Kill Bitcoin by Citing Institutional Control　　Hayes also raises concerns about institutional entities gaining control over the network‘s

2023-11-08Deep Dive

XRP Is Now The New Favorite Crypto Of Americans

Ripple‘s Chief Legal Officer Stuart Alderoty had once highlighted XRP’s unique positioning in the US following Ripples notable victories against the US Securities and Exchange Commission (SEC). His statement has more backing now as Americans seem to have taken more interest in the crypto token since then.Americans More Interested In XRP Than Ethereum　　According to recent data from Google Trends, residents in 48 out of the 50 states in the country seem to be more interested in the XRP token over the second largest cryptocurrency by market cap, Ethereum. Nevada, Delaware, Montana, Louisiana, and Arizona form part of the regions where the interest in XRP is at the most.　　It is believed that some of this interest could have come on the back of the token gaining regularity clarity in the country when Judge Analisa Torres declared that XRP wasnt a security in itself. The token had taken a hit when the SEC initially filed a lawsuit against Ripple back in 2020, as many crypto exchanges in the country moved to delist the crypto token.　　Such a move undoubtedly affected the token‘s market share in the country as only a few exchanges, like Uphold, opted against delisting the crypto token despite the legal

2023-11-07Deep Dive

Doubling Impacts Of Bitcoin Halving And Spot ETFs On Supply And Demand

Michael Saylor expects the impacts Of Bitcoin halving and spot ETFs, in which Bitcoins supply to be cut in half after the halving, and with the introduction of spot ETFs, he predicts a doubling of demand.　　Michael Saylor, in an interview on Fox Business, mentioned the impact of the halving on the Bitcoin supply and the potential doubling of demand once the spot ETFs are launched. The halving event reduces the supply, while the spot ETFs are expected to attract more investors and increase demand for Bitcoin.　　“After the halving, the supply gets cut in half, and after the spot ETFs come online, demands going to at least double”　　Michael Saylor said on Fox BusinessPotential Impact of Halving on Bitcoin Supply　　The Bitcoin halving is a significant event that occurs approximately every four years, where the block reward provided to miners is reduced by half. This event ensures a controlled monetary inflation rate, distinguishing cryptocurrencies from traditional fiat currencies with infinite supply.The next halving is expected to occur on April 24, 2024, and the current block height is less than 6 months away from it. Once all 32 halving events have taken place, the maximum supply of Bitcoin will be reached, and no more

2023-11-07Deep Dive

Shakeup in CEX Landscape: Binance’s Control Wanes as Rivals Strengthen Grip!

0xScope has recently published an extensive report detailing the dynamics within the CEX landscape over the past year.　　According to the report, Binance, a leading player in the field, initially boasted a significant market share of 51.2%. This was followed by OKX at 13.4%, Bybit at 9.6%, Bitget at 7%, and MEXC at 6.9%. However, the most striking revelation from the report was the noticeable decline in Binance‘s market dominance over the past year. Once at a high of 54%, Binance’s market share has now dropped to approximately 45%, marking a substantial fall in its control over the CEX landscape market.　　The report also shed light on the decline in market shares of other major players. Huobi Gate and KuCoin, previously strong contenders in the competitive CEX landscape, also experienced a decline in their market shares. While the specific percentage drop for these platforms was not provided, the report indicated that these declines were not isolated incidents but part of a broader trend within the industry.　　Binances Market Share Decline and Industry Implications　　Market analysts have pointed to various potential factors contributing to these shifts, including increased competition from emerging platforms, regulatory challenges, and evolving customer preferences. The cryptocurrency market has been undergoing significant

2023-11-07Deep Dive

CoinShares: Digital Asset Investment Products Record Six Weeks of Consecutive Inflows

According to the latest report from CoinShares, digital asset investment products saw inflows of $261 million last week, marking the sixth consecutive week of inflows. The total inflows now stand at $767 million, surpassing the total inflows of $736 million in 2022.　　Bitcoin investment products attracted a total of $229 million in inflows, bringing the year-to-date inflow to $842 million. Ethereum saw its largest inflow since August 2022, totaling $17.5 million.　　Other altcoins, such as Solana, witnessed inflows of $11 million, while Chainlink received $2 million in inflows, accounting for 17% of the total assets under management. Polygon and Cardano also had inflows of $800,000 and $500,000, respectively.　　

2023-11-07Deep Dive

Insider Sources: Silicon Valley Investment Firm Proof Group Bidding to Relaunch FTX

According to a report by Coindesk, two anonymous sources have revealed that Proof Group is bidding to relaunch FTX. Proof Group, a Silicon Valley investment company, is part of the Fahrenheit alliance, which successfully bid to acquire the bankrupt cryptocurrency lending platform Celsius.　　In prior reports, FTX was considering proposals from three bidders to potentially restart the exchange, with a decision on how to proceed expected to be made before mid-December. Currently, FTX is in negotiations with investors regarding the details of potentially binding offers.　　In response to the news, FTT experienced a short-term price surge, breaking the 1.2U mark and achieving a 24-hour gain of 8.27%.　　

2023-11-07Deep Dive

Quasar Finance to Commence First Airdrop for Testnet Participants by Month-End

According to an official announcement, the airdrop proposal for the Cosmos ecosystem DeFi protocol Quasar Finance has been approved. The first round of airdrops will be for testnet participants and is scheduled to start in 22 days. Users can currently check their eligibility for the QSR airdrop on the corresponding page.　　Previously, in January, Quasar Finance completed a $5.4 million funding round at a valuation of $70 million. The funding round was led by Shima Capital, with participation from Polychain Capital, Blockchain Capital, HASH Capital, CIB, and Osmosis co-founder Sunny Aggarwal.　　In March, Quasar Finance launched its mainnet.　　

2023-11-07Deep Dive

Monero’s CCS Wallet Was Exploited, Attacker Drains $460,000 in Nine Transactions

Moneros CCS wallet was exploited on September 1, 2023, as revealed by the decentralized community-driven project.Moneros CCS Wallet Was Exploited, $460,000 Stolen　　It has been reported that the attacker drained the wallet through nine transactions, depleting its entire balance of 2,675.73 XMR, which is valued at approximately $460,000. Chinese cryptocurrency reporter Colin Wu, known for his X page, Wu Blockchain, provided insights into the Monero CCS hack, which is still surrounded by mystery.　　Wu also highlighted the theory by blockchain security firm SlowMist, which suggests a “loophole in the Monero privacy model” as the source of vulnerability. Moneros disclosure revealed that the CCS, funded by donations, held a total balance of 2675.73 XMR until September 1. It was not until November that Monero developer Luigi noticed the complete theft of the wallet holdings.　　 Moneros CCS Wallet Was Exploited By Hacker Traced to Monerujo Wallet with PocketChange Feature Enabled　　Moonstone Research meticulously tracked the attacker‘s transactions and concluded that the exploiter was likely a user of the Monerujo wallet with the PocketChange feature enabled. Monerujo, an Android-based non-custodial Monero wallet, offers PocketChange to address Monero’s limitations by dividing funds into multiple “pockets” or “notes.”　　According to Monerujos explanation, enabling PocketChange splits a larger coin into

2023-11-06Deep Dive

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