How Bithumb Partners is Reshaping Investment Strategies In a strategic move that underscores its commitment to evolving market demands, Bithumb, one of South Korea’s leading cryptocurrency exchanges, has rebranded its subsidiary, Bithumb Meta, into Bithumb Partners. This transformation marks a pivotal shift from metaverse and NFT projects to a sharper focus on investment operations. With this rebranding, Bithumb Partners aims to position itself as a short-term investment vehicle specializing in stocks and bonds. The rebranding occurred in the fourth quarter of 2024, with Bithumb injecting an additional 1 billion KRW (approximately 680,099 USD) into the subsidiary. This move increased the…
Author: Crypto Team
Phoenix Group Bitcoin Mining Expansion Boosts U.S. Operations with New Facility in North Dakota Phoenix Group Bitcoin Mining Expansion is making waves in the global cryptocurrency industry as the Abu Dhabi-based firm continues to deepen its U.S. footprint. The recent inauguration of a 50 MW crypto mining facility in North Dakota underscores the company’s commitment to scaling its operations in key markets. This strategic move is expected to contribute over 2.7 exahashes to Phoenix Group’s mining arm, marking another milestone in its ambitious growth journey. The Phoenix Group Bitcoin Mining Expansion comes as no surprise, given the company’s history of…
India is intensifying its efforts to tackle crypto pig butchering scams, collaborating with tech giants Google and Facebook to combat this rising menace. These scams, which exploit cryptocurrencies as both a bait and a laundering tool, have wreaked havoc, leaving victims financially devastated. According to the Indian Union Home Ministry’s 2024 report, these scams target vulnerable groups, including unemployed youths, housewives, students, and individuals facing financial insecurities. What Are Crypto Pig Butchering Scams? The term “pig butchering” refers to investment scams where fraudsters “fatten” their victims by gaining their trust over time. They lure victims with promises of substantial returns,…
Everything You Need to Know About Binance’s Role in the Dash Network Upgrade and Hard Fork Binance has announced its support for the Dash network upgrade and hard fork, scheduled to occur on January 7, 2025, at block height 2,201,472. This pivotal update is designed to enhance the Dash blockchain’s functionality, security, and scalability. As a leading cryptocurrency exchange, Binance has assured users that all technical aspects of the upgrade will be managed seamlessly, ensuring minimal disruption for DASH token holders. At 19:00 (UTC+8) on January 7, Binance will temporarily suspend DASH token deposits and withdrawals to facilitate the Dash…
Exploring Eric Trump and Michael Saylor’s Discussion on Bitcoin and Cryptocurrency Trends Eric Trump and Michael Saylor, two prominent figures in business and cryptocurrency, recently met at Mar-a-Lago to discuss Bitcoin. The meeting highlights the growing integration of traditional business leaders with the evolving Bitcoin and cryptocurrency ecosystem. In a post on X, Eric Trump, Executive Vice President of The Trump Organization, referred to the meeting with Saylor as “Two friends, one passion: Bitcoin.” This interaction underscores the increasing influence of Bitcoin within elite business circles. The event took place on January 3 and brought to light the dynamic intersection…
Understanding the $3M Crypto Scam Lawsuit Against Asian Banks In a landmark case, a California resident, Ken Liem, has filed a crypto scam lawsuit against Asian banks for their alleged negligence in failing to protect him from losing $1 million in a fraudulent cryptocurrency investment scheme. The lawsuit, which names Hong Kong-based Fubon Bank Limited and Chong Hing Bank Limited alongside Singapore-based DBS Bank, sheds light on the vulnerabilities in the financial system’s anti-money laundering (AML) and know-your-customer (KYC) processes. The case arises from a type of fraud known as “pig butchering scams,” where scammers manipulate victims by posing as…
Destra Crypto has been making waves in the cryptocurrency market, with its native token, DSYNC, witnessing an impressive surge of over 30% following the announcement of tax-free trading. This development has not only captured the attention of investors but also positioned Destra Crypto as a frontrunner in the decentralized AI computing space. According to CoinGecko, DSYNC is currently trading at $0.406, marking a significant recovery from its all-time high (ATH) of over half a dollar in early December. Although its current price is 22% below the ATH, the token’s upward trend in the past week reflects growing investor confidence. DSYNC…
How South Korean Gaming Giant Wemade is Bridging Gaming and Blockchain with Decentralized Communities South Korean gaming giant Wemade is making headlines once again as it doubles down on its commitment to blockchain technology and decentralized social communities. With a proven history in the gaming industry, Wemade is now shifting gears to redefine how blockchain and gaming intersect. According to recent statements by Wemade’s CEO Park Kwan-ho, 2025 is poised to be a transformative year for the company as it explores new blockchain-based social communities. Park describes 2025 as a “turning point” for Wemade, signaling the company’s vision of bridging…
Solana Climbs Back Above $200 Amid Growing Investor Confidence Solana climbs back above $200, marking a significant resurgence in the cryptocurrency market as investor confidence grows. As of January 2, 2025, Solana (SOL) is trading at $205.64, reflecting an 8.48% increase over the last 24 hours. This price surge follows a period of consolidation, indicating renewed optimism among traders. The cryptocurrency hit an intraday high of $205.64 and a low of $187.82, demonstrating strong buying pressure driven by favorable sentiment regarding the potential approval of a Solana exchange-traded fund (ETF). Open interest in SOL futures contracts has risen to $3.42…
Why Celsius Files Appeal Against Judge Order Denying $444m Claim Celsius Files Appeal Against Judge Order Denying $444m Claim is the latest development in the ongoing bankruptcy proceedings of the defunct crypto lender. The appeal notice comes after Judge John Dorsey dismissed Celsius Network’s claim against FTX for damages worth approximately $444 million. The dispute arises from accusations that FTX officers made “unsubstantiated and disparaging statements” about Celsius’ balance sheet and financial stability, which allegedly accelerated Celsius’ collapse in 2022. The initial claim, filed by Celsius, demanded up to $2 billion in damages, but the amount was later reduced to…