Author: Crypto News

As speculation surrounds the potential for Dogecoin to reach the $1 mark, another meme coin, Shiba Shootout, is making waves. While Dogecoin’s path to $1 is uncertain, Shiba Shootout is poised for explosive growth, with many believing it could 10X before Dogecoin achieves its milestone. Let’s explore why Shiba Shootout stands out and what sets it apart in the crowded meme coin market.Dogecoin’s Journey to $1: The Challenges AheadDogecoin, one of the most recognizable names in the crypto world, has seen its price fluctuate wildly over the past year. Despite its strong community and high-profile endorsements, Dogecoin faces several challenges…

Last updated: May 24, 2024 22:30 EDT | 3 min read The Southwark Crown Court in London, UK, sentenced a woman to jail for money laundering bitcoin tied to a billion-dollar investment fraud.Jian Wen was sentenced to nearly seven years in prison on Friday after being found guilty of money laundering in connection with a £5 billion ($6.4 billion) fraud scheme.Woman Jailed for Laundering $6.4 Billion Bitcoin Fraud Proceeds in London Court Trial A woman is sentenced to six years and eight months in jail for laundering massive amounts of Bitcoin linked to a $5.6 billion investment fraud in China…

Last updated: May 24, 2024 19:25 EDT | 2 min read Top Crypto Gainers Today on DEXScreener – EGOD, SMERF, HARAMBE / Source: Cryptonews As major cryptos remained stuck within recent ranges as traders digest Ethereum ETF approvals and hotter-than-expected US economic data released this week, traders are turning to the on-chain markets as they hunt for the top crypto gainers today.Bitcoin (BTC) was last trading just below $69,000, up 4% this week.Ethereum (ETH), meanwhile, is changing hands in the $3,700s, up over 21% this week.Both cryptos are currently trading 4-5% below earlier weekly highs.Ethereum ETF approvals are an important…

Last updated: May 24, 2024 18:44 EDT | 3 min read Best Crypto to Buy Now May 24 – Core, Ondo, Uniswap / Source: Cryptonews Cryptocurrency markets are ending the week with solid momentum in wake of the SEC’s approval of spot Ethereum ETFs and, in wake of Bitcoin (BTC)’s recovery back to the $69,000 level, traders are hunting for the best crypto to buy now for quick gains.That cryptocurrency could be Ethereum (ETH). Ethereum is up over 20% this week, but last trading in the $3,700s, remains stuck below its March highs.It also still remains well below its 2021…

Last updated: May 24, 2024 18:34 EDT | 2 min read Communities across the web are pausing to reflect on the life of Kabosu, the dog behind the Doge meme and Dogecoin mascot, who passed away at 17 on May 25.Kabosu’s owner, Atsuko Sato, announced the news in a post on her official blog, expressing her deep gratitude for the love and support shown to her over the years.The passing came following an announcement that Kabosu was in a “dangerous position” healthwise in 2022. However, Sata expressed the passing to be peaceful, without suffering.“Soft light streamed in through the window,…

Last updated: May 24, 2024 17:04 EDT | 2 min read Crypto exchange OKX announced on Friday that it has withdrawn its Virtual Asset Service Provider (VASP) license application in Hong Kong and will cease to provide trading services to residents.OKX joined Gate.io’s Hong Kong affiliate, HKVAEX, and Huobi HK in recently withdrawing their VASP applications from the Hong Kong Securities and Futures Commission. In its statement, the company cited “careful consideration” of its business strategy as the reason for this decision but did not provide further details. OKX Withdraws Application and Ceases Centralized Exchange Services in Hong KongComplying with…

Last updated: May 24, 2024 16:47 EDT | 2 min read The Abu Dhabi Agriculture and Food Safety Authority of UAE issued a new advisory on Thursday prohibiting the use of farms for cryptocurrency mining. Farmers caught engaging in such activities face fines of up to 10,000 UAE dirhams (approximately $2,722).The Abu Dhabi Agriculture and Food Safety Authority advisory explicitly stated that farms cannot be repurposed for cryptocurrency mining.Cryptocurrency Mining is a “Misuse of the Farm”The government agency considers this a “misuse of the farm for purposes other than its intended use.” The prohibition is enforced with penalties for non-compliance,…

Last updated: May 24, 2024 16:10 EDT | 1 min read English artist Damien Hirst is under increased scrutiny this week following claims he backdated more than 1,000 pieces of art from his NFT project “The Currency,” The Guardian reported Wednesday.Damian Hirst Under Fire For NFT Project Following ExposéThe controversial artist, perhaps best known for works depicting animals preserved in formaldehyde, allegedly misrepresented the actual dates of an estimated 10% of the 10,000 physical paintings from “The Currency,” all of which corresponded to a matching NFT.Launched in 2021 and sold for $2000, Hirst claimed that all of the physical paintings…

Last updated: May 24, 2024 15:47 EDT | 6 min read Traditional banks may still dominate the financial industry in terms of assets held, but credit unions are becoming an increasingly popular option for Americans who qualify. Recent data shows that there are roughly 4,600 credit unions in the United States. A September 2023 report from The National Credit Union Administration (NCUA) further notes that nearly 139 million Americans were members of federally insured credit unions, up 20% from five years prior.In addition, the credit union market size measured by revenue totaled $126.2 billion last year.Credit Unions Are Ripe For…

Last updated: May 24, 2024 13:33 EDT | 2 min read Sam Bankman-Fried’s (SBF) FTX Group allegedly paid over $25 million in hush money to seven whistleblowers prior to the doomed crypto exchange collapse in November 2022, a bombshell independent examinator’s Thursday report found.FTX Whistleblowers Agreed To Settlement Deals Prior To CollapseRobert Cleary, the independent examiner tasked with conducting the report, discovered the now-settled claims investigating employee severance packages, as FTX did not record employee complaints.According to Cleary’s report, the investigation “ultimately identified settlement agreements totaling more than $25 million with seven whistleblowers who alleged various improprieties at the FTX…