Someone Transferred a Billion Dollars in Bitcoin for Less Than $5

According to information provided by the crypto Twitter account, Whale Alert, 92,857 BTC ($1,092,603,640) were sent from an unknown wallet for a fee just of $4 at current market rates. Although the Bitcoin network is well known for its generally low transaction fees, the cost-per-transaction has increased by over 500% in the last month. Bitcoin Block Bot, another whale alert-style Twitter account, reported on June 27 that a 101,857 BTC transaction had moved 0.5% of all Bitcoin currently in circulation, with a total transaction fee cost of around $0.48. Unknown…

$1 Billion Liquidated as Bitcoin Price Crashes by $1.4K in Minutes

The price of Bitcoin (BTC) and Ethereum’s Ether (ETH) plunged by 13% and 21%, respectively, within minutes on Aug. 2. The move liquidated more than $1 billion worth of futures contracts as BTC/USD dropped from around $12,000 to as low as $10,550. BTC/USD 1-hour chart. Source: Tradingview There appear to be two main reasons behind the sudden cascade of liquidations. First, the volume in the cryptocurrency market tends to drop during weekends. Second, the market was heavily swayed to longs or buyers. Cryptocurrency market snapshot, Aug. 2. Source: Coin360 Surprise…

100 Key Members of PlusToken Arrested, $2 Billion Scheme Disbanded

PlusToken’s core members have been arrested in China, and the scheme has been completely demobilized, says a report from Cailian News. The report claims over 100 people were arrested by China’s Ministry of Public Security earlier today. The End of PlusToken? A report from Chinese media outlet Cailian News claims the Ministry of Public Security has arrested 27 criminal suspects and 82 key members of the infamous PlusToken scam. The scam involved 2 million participants and stole over $2 billion in cryptocurrencies, making it one the largest Ponzi schemes the…

Grayscale’s Crypto Funds Grow by $1 Billion in Just 11 Days

Crypto fund manager Grayscale Investments has managed to increase its assets under management by another $1 billion in less than two weeks. According to an update posted to Grayscale’s Twitter account on July 28, the investment firm currently has $5.1 billion in assets under management (AUM). The funds are mostly held in Grayscale’s trusts for Bitcoin (BTC) and Ethereum (ETH), along with the firm’s digital large cap fund. There are smaller allocations in Bitcoin Cash (BCH), Ethereum Classic (ETC), Horizen (ZEN), Litecoin (LTC), Stellar Lumens (XLM), XRP, and Zcash (ZEC) …

Tether Jumps to $10 Billion Market Capitalization

Tether (USDT) has reached a market capitalization of more than $10 billion as of July 22. The milestone was announced by Tether and also seen through the market price aggregator CoinGecko. Tether’s issuance has seen a significant growth in 2020, doubling from $5 billion in just five months since March 2020. Cointelegraph previously reported that a relevant portion of this growth comes from existing fiat on exchanges being transformed into USDT.  Tether and Bitfinex CTO, Paolo Ardoino, recapped some of Tether’s achievements during its growth. Tether transfers currently account for…

$10.9 Billion Bitcoin Stash Proves Satoshi Is Still the Biggest Whale

A recent report by blockchain tracking and analytics provider, Whale Alert, revealed that the miner known as Patoshi mined over $10.9 billion or 1,125,150 BTC during Bitcoin’s infancy in order to protect the network from a 51% attack.  Patoshi has been confirmed to be the anonymous Bitcoin creator known as Satoshi and the early blocks mined by Patoshi also include the first BTC transaction to Hall Finney, a well known developer and early Bitcoin contributor. Whale Alert was able to come to this conclusion by reviewing previous research conducted by…

More Than $1.4 Billion of Laundered Money Has Moved Onto Crypto Exchanges This Year

The latest report by Peckshield, a blockchain security company, shows that more than $1.4 billion of laundered money has moved onto crypto exchanges in 2020.  Peckshield says it has been collecting data both online and offline for more than one year. After verifying and analyzing the data, they were able to identify over 100 million transaction addresses. They could also label more than 50 million mainstream crypto wallet addresses at crypto exchanges.   By leveraging a digital asset tracking platform called CoinHolmes, Peckshield found that some 147,000 Bitcoin (worth more than…

Bitcoin Options OI Rockets to $1.1 Billion as Explosive Volatility Looms

The options market is becoming a more integral part of Bitcoin’s market, seeing tremendous growth throughout 2020. Less than a month ago, the benchmark cryptocurrency saw its largest ever options expiry, with nearly $1 billion in contracts expiring. In the time since, however, options open interest has rebounded significantly and is now sitting around $1.1 billion. Ethereum’s OI has grown slightly faster than that of BTC and has already reached its pre-expiry levels. It is likely that this OI could help catalyze some intense volatility in the near-term, helping to…

Aave Protocol’s New Product Takes on $300 Billion P2P Loan Market

Key Takeaways The collateral posted by one party can be used by another as collateral against which assets can be borrowed on Aave. Both parties sign an agreement on OpenLaw that locks in interest rates, repayments terms, and debt covenants. This is ideal only if the lender trusts the borrower, unlike Aave’s flagship money market which is trustless. The DeFi news category was brought to you by Ampleforth, our preferred DeFi partner Share this article Aave Protocol’s newest product, credit delegation, allows users to take collateral-free loans using DeFi. This service…

New Action Movie Features Billion Dollar Crypto Theft

Cryptocurrency has a starring role in a new casino heist action movie starring Adam Copeland, Denise Richards, and Kelsey Grammer that premieres later this week. According to the trailer, Money Plane (out July 10) is about a former gambler who is pushed into stealing from an aircraft that’s “a bulletproof casino in the sky, untouchable by any government agency”. Grammer’s character says the plane carries “up to a billion on board in crypto and millions in cash.”  While not identifying which coins are essential to the plot, a screen capture…