A South Korean court temporarily lifted the partial business suspension on crypto exchange Upbit that had prohibited the trading platform from servicing new clients for three months. On Feb. 25, South Korea’s Financial Intelligence Unit (FIU) sanctioned the exchange, imposing a three-month ban on deposits and withdrawals for new clients. The FIU previously said the…
A crypto whale who allegedly manipulated the prize of the Jelly my Jelly (JELLY) memecoin on decentralized exchange Hyperliquid still holds nearly $2 million worth of the token, according to blockchain analysts. The unidentified whale made at least $6.26 million in profit by exploiting the liquidation parameters on Hyperliquid. According to a postmortem report by…
The trader behind recent “suspicious market activity” on Hyperliquid that led to the freeze and delisting of the Jelly my Jelly (JELLY) memecoin is potentially down almost $1 million from their actions. Blockchain analytics firm Arkham Intelligence said in a March 26 post to X that the trader attempted to manipulate the system to profit…
Crypto.com is facing criticism from the crypto community after reissuing 70 billion Cronos tokens burned in 2021. Critics said the move undermines the principles of decentralization and transparency in the cryptocurrency space. The controversy erupted on March 25 after onchain investigator ZachXBT posted on X, accusing Crypto.com of reissuing Cronos (CRO) tokens that had been…
Members of Arbitrum’s decentralized autonomous organization (DAO) are discussing a potential clawback of funds allocated to build a gaming ecosystem on the network, citing a lack of progress and transparency. On March 24, DAO member Nathan van der Heyden submitted a proposal calling for the recovery of unused funds allocated to the Arbitrum Gaming Catalyst…
Wyoming Governor Mark Gordon said the state’s proposed stablecoin might be ready to launch by July, with the Wyoming Stable Token Commission announcing interoperability protocol LayerZero as a partner for the token launch. Speaking at the DC Blockchain Summit on March 26, Gordon praised the speed and efficiency of the Wyoming state government in embracing…
Security concerns remain the biggest obstacle to the mainstream adoption of cryptocurrency payments, as hacks and phishing scams continue to damage the industry’s legitimacy. More than 37% of investors identified security risks as the main barrier to using cryptocurrency for payments, according to a survey of 4,599 users conducted by Bitget Wallet as part of…
The organization behind the Movement Network said it will use $38 million recovered from a market maker to buy back MOVE tokens over the next three months. On March 24, the Movement Network Foundation said it recovered about $38 million in assets from a market maker tasked with providing liquidity on buy and sell orders…
Gracy Chen, CEO of cryptocurrency exchange Bitget, criticized Hyperliquid’s handling of a March 26 incident on its perpetual exchange, saying it put the network at risk of becoming “FTX 2.0.” On March 26, Hyperliquid, a blockchain network specializing in trading, said it delisted perpetual futures contracts for the JELLY token and would reimburse users after…
Memecoin launchpad Pump.fun’s new decentralized exchange (DEX), PumpSwap, surpassed a cumulative trading volume of $1 billion a week after its launch, according to blockchain analytics platform Dune. On March 19, Pump.fun launched its Solana DEX to create a “frictionless environment” for memecoin trading. Previously, memecoins launched on Pump.fun needed to migrate into the Solana DEX…