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Economy

A collection of 596 issues

ZKasino Accused of $32 Million 'Rug Pull' After Moving User Funds and Shutting Down Communication Channels

In a shocking development in the cryptocurrency world, ZKasino, a decentralized gambling network, is under suspicion for a massive $32 million scam. The project team reportedly collected over 10,515 ETH (valued at more than $32 million) under the guise of a token farming program for their ZKAS tokens. Subsequently,

Binance Launches Megadrop Platform for Airdrops and Web3 Quests, Introducing BounceBit (BB) as the First Token

Binance, one of the leading cryptocurrency exchanges, has officially launched its new platform, Megadrop, designed to host airdrops and special Web3 quests for its users. This innovative platform integrates the Simple Earn product and the Binance Web3 Wallet, redefining user experiences in the airdrop segment, according to a recent press

US Senators Demand CFTC Chairman Disclose Details of His Relationships with Sam Bankman-Fried

US lawmakers have officially requested that Rostin Behnam, the Chairman of the Commodity Futures Trading Commission (CFTC), provide a comprehensive report detailing his interactions with Sam Bankman-Fried, the former CEO of the now-bankrupt cryptocurrency exchange FTX. This move comes amidst growing concerns regarding the nature of their relationship and potential

Cryptocurrency Funds Experience $126 Million Withdrawal Amid Market Volatility, CoinShares Weekly Report Reveals

In a recent update from CoinShares, a noticeable $126 million was withdrawn from cryptocurrency funds over the past week, marking a significant shift in investor sentiment. This withdrawal contrasts sharply with the prior period's substantial inflow of $646 million into these funds. The week of April 8-12, 2024, has been

Sharpe AI Successfully Completes Seed Funding Round with Notable Investors Including Animoca Brands and GBV Capital

Sharpe AI, a trailblazer in the fintech sector providing cutting-edge AI-integrated trading tools for financial markets, has officially announced the closure of its seed funding round. This pivotal development marks a significant milestone for the company as it seeks to expand its innovative offerings across global markets. The seed round

Survey Reveals Investment Trends in U.S.: One in Five American Adults Under 42 Invests in Cryptocurrencies

A recent survey conducted by Policygenius, focusing on financial planning trends among U.S. citizens, has shed light on the growing inclination of younger generations towards cryptocurrencies and non-fungible tokens (NFTs), diverging from traditional stock market investments. The survey's findings underscore a notable shift in investment patterns across different age

VanEck CEO Predicts Low Probability of Spot Ethereum ETF Approval in May 2024 Amid SEC Silence

In an interview that has dampened the spirits of many in the cryptocurrency investment sector, Jan van Eck, CEO of investment firm VanEck, has shared a pessimistic forecast regarding the approval of spot Ethereum ETFs by May 2024. Despite the growing anticipation within the crypto community, van Eck's outlook provides

Ripple CEO Predicts Doubling of Cryptocurrency Market by End of 2024

In a recent statement, Brad Garlinghouse, the CEO of Ripple Labs, forecasted a significant growth in the cryptocurrency market, potentially doubling its size by the end of 2024. His optimism is largely based on the anticipated effects of the introduction of Bitcoin spot Exchange-Traded Funds (ETFs) and the upcoming Bitcoin

"LightLink Completes $6.2 Million Expanded Seed Round to Fuel Web3 Ecosystem and dApps Development"

LightLink, a pioneering project in the blockchain industry, has successfully closed an expanded seed funding round, raising $6.2 million. The round saw significant contributions from MH Ventures and NxGen, highlighting the project's growing appeal among institutional investors and leading to the decision to increase the funding goal to accommodate

Ethereum's First Quarter Financial Triumph: A $1.17 Billion Revenue from Fees

In an unprecedented financial surge, Ethereum has reported a significant increase in its first-quarter earnings for the year 2024, with revenues reaching a staggering $369.11 million. This marks an impressive growth of 209.50% compared to the same period last year. The lion's share of this revenue, amounting to