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Economics News

A collection of 554 issues

Solana Foundation Excludes Validator Group from Delegation Program After MEV Attacks

In a decisive move against unethical practices, the Solana Foundation has expelled a group of validators from its delegation program. The team took this action following confirmed instances of the validators participating in Miner Extractable Value (MEV) attacks that targeted network users. Such activities, as reported by The Block citing

Kraken Plans to Raise $100 Million Before IPO Amidst Investor Excitement: A Strategic Move Towards Accelerating Global Crypto Adoption

American cryptocurrency exchange Kraken is gearing up for a significant financial milestone. According to Bloomberg, the company aims to raise $100 million by the end of 2024 in what will be its final funding round before launching an initial public offering (IPO). This strategic move comes amidst heightened investor interest

Visa and Mastercard Resume Collaboration with Binance, Enabling Cryptocurrency Purchases and Account Funding

Visa and Mastercard have reinstated their collaboration with the cryptocurrency exchange Binance, allowing users once again to use their cards for purchasing digital assets and funding their accounts. This marks a significant turnaround in the financial landscape for Binance, especially following the temporary disengagement by these payment giants due to

Binance to Implement Restrictions on Certain Stablecoins for European Clients

Cryptocurrency exchange Binance has announced a new policy change that will affect certain stablecoins for its clients within the European Economic Area (EEA). Starting from June 30, 2024, Binance will limit support for "unauthorized" stablecoins as a result of the Markets in Crypto-Assets Regulation (MiCA) framework. This regulation

Global Oil Prices Drop to Lowest Level Since Early February: Analyzing the Market Decline

Brent Crude Prices Fall Below $78 Per Barrel for the First Time Since February 6 On June 4, global oil prices experienced a significant drop, with Brent crude prices falling below $78 per barrel for the first time since February 6, 2024. This data was reported by the London-based ICE

Former U.S. President Donald Trump Found Guilty of Document Forgery; Associated Cryptocurrency TRUMP Token Plummets

In a landmark verdict on May 30, 2024, a New York jury found former U.S. President and current presidential candidate Donald Trump guilty of document forgery. NBC News reported the conviction, which marks Trump as the first U.S. president convicted of a criminal offense. The final sentence, which

Trader Turns $861 into $650,000 in 5 Hours with Memecoin Investment on Solana Network

In an extraordinary display of market acumen—or sheer luck—a cryptocurrency trader managed to increase his investment by 762 times, turning a modest $861 into a staggering $650,000 within a span of just five hours. This remarkable financial feat was achieved through strategic trading of the memecoin MOTHER

Indian Company Agrees to Purchase Russian Oil in Rubles

Reliance Industries, the operator of the world's largest oil refining complex, has agreed to purchase Russian oil in rubles. This agreement was reported by Reuters, citing sources familiar with the matter. The Indian company has signed a contract with Rosneft to purchase three million barrels of oil per

Mt. Gox Moves $9.6 Billion in Bitcoin for First Time in Five Years

In a significant financial move, the Mt. Gox cryptocurrency exchange has transferred bitcoins valued at over $9.6 billion, marking its first activity of this magnitude in five years. This event involves the relocation of 141,658 BTC to a new address as reported by Whale Alert on May 28,

Whale Victim of Repeated Phishing Scam Loses Nearly $7 Million

In a startling incident, a cryptocurrency whale, previously victimized by phishing in 2023, has once again faced substantial financial loss. This time, the loss amounts to nearly $7 million due to a sophisticated phishing attack. On-chain analysts have disclosed that an unknown user fell prey to a phishing scheme that