Author: Li Jing

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Binance-backed Bitcoin Restaking Startup BounceBit Unveils Roadmap

BounceBit has revealed its plan to democratize high-yield Bitcoin investing opportunities by integrating centralized and decentralized finance. BounceBit, a new Bitcoin restaking startup supported by Binance, has outlined its 2024 roadmap, detailing key initiatives for this year. In a Medium blog post on May 20, BounceBit announced its goal to merge the structure and liquidity […]
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The Rise and Fall of Venezuela’s Petro Cryptocurrency

Venezuela has officially terminated its Petro cryptocurrency after a tumultuous five-year period. Launched in 2018 by President Nicolas Maduro, the Petro was intended to bolster Venezuela’s national currency, the bolívar, amidst a severe economic crisis. The cryptocurrency was backed by the country’s substantial oil reserves. From the outset, the Petro faced skepticism and legal challenges. […]
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The Alarming Trend of Crypto in Concealing Child Abuse Crimes

  In a startling revelation, the cryptocurrency tracing firm Chainalysis has uncovered a worrying trend in the illicit trade of child sexual abuse materials (CSAM). The sellers of these materials are increasingly employing advanced methods like “mixers” and “privacy coins” such as Monero, complicating efforts by law enforcement agencies to track and apprehend them. The […]
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Wakaru: Navigating the Future of Blockchain Innovation

Blockchain technology, a revolutionary digital ledger system, has witnessed exponential growth since its inception. Initially conceptualized to support cryptocurrencies like Bitcoin, it has evolved into a foundational technology influencing various industries. The global blockchain market, valued at $11.14 billion in 2022, is projected to reach an astounding $469.49 billion by 2030​​. This growth trajectory is […]
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Starting in 2024, IRS Mandates Reporting of Crypto Transactions Over $10K

Coin Center’s executive director, Jerry Brito, has expressed that complying with the cryptocurrency tax reporting guidelines set for 2024 remains ambiguous. Key elements of the infrastructure bill signed by U.S. President Joe Biden are now operational. This includes mandates that digital asset transactions exceeding $10,000 be reported to the IRS. The bipartisan bill, approved by […]
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Nearly $100M in Cryptocurrency Stolen in December, Fueled by Orbit Bridge Hack

The cyberattack on Orbit Bridge just before New Year’s Eve pushed the cumulative crypto losses to almost $100 million in December. Blockchain security companies reported that the recent assault on Orbit Chain’s cross-chain bridge caused the crypto stolen in December to approach $100 million. On January 1st, PeckShield, a blockchain security firm, revealed that the […]
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Genesis, Three Arrows Capital Reach Agreement on $1B of Claims

Bankrupt crypto lender Genesis has agreed to settle $1 billion in claims by defunct crypto hedge fund Three Arrows Capital (3AC) with a payment of $33 million, court documents show. The hedge fund’s collapse in June 2022 marked the first storm in a long crypto winter, and its claims against Genesis refer to transfers made […]
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China to intensify crackdown on stablecoins to thwart illegal forex trading

In a bid to intensify the crackdown on crypto, China is calling for strict measures against illegal foreign exchange trading involving USDT. China is seemingly preparing to double down on its crypto crackdown, with the Supreme People’s Procuratorate (SPP) and State Administration of Foreign Exchange (SAFE) highlighting criminal cases involving the USDT stablecoin in a recent statement, according […]
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