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Prime Core Technologies, the parent entity of crypto custodian Prime Trust, reports an $8 million shortfall from TerraUSD investments . The loss was disclosed in an Aug. 24 filing with the Bankruptcy Court for the District of Delaware in the United States. The company revealed it incurred losses of $6 million in client funds and $2 million in treasury funds through USTC investments under previous management. “Although crypto winter was not the precipitous event leading to the Receivership and these Chapter 11 Cases, the Company felt the ripple effect caused by crypto winter, which resulted in depressed revenues.” Prime Trust filing The filing attributed its investment losses and increased expenditures in October and November 2022 as key factors leading to its bankruptcy declaration.  In August, Prime Trust initiated a bankruptcy filing in the United States, revealing estimated liabilities between $100 million to $500 million, along with 25,000 to 50,000 creditors...

According to analytics provider IntoTheBlock, the profitability of holding the meme cryptocurrency Shiba Inu (SHIB) has fluctuated alongside changes in the coin’s market price. Based on current data, approximately 16% of SHIB holders are in a profitable position at the present value of around $0.000008182 per coin. Another 10% are estimated to be breaking even with neutral profitability. The remaining 74% are projected to experience an overall loss. Shiba Inu has declined 90.75% from its record high of $0.00008616 reached in October 2021. Some holders who acquired SHIB around its peak price are now in negative territory on their investments due to this drop. Conversely, those who bought SHIB at lower valuations may be seeing positive returns. Shiba Inu’s high price volatility and holder composition appear to be key factors impacting individual holder profitability. SHIB’s value has seen major fluctuations amid high trading volumes. Per IntoTheBlock, about 77...

Bitcoin’s (BTC) price , was quite bearish today and was still below the $30,000 threshold at $26,422.6,  and up by around 1.63% since yesterday. Other well-known altcoins, Cardano (ADA), Polkadot (DOT), and Solana (SOL), also experienced gains on the other side of the border. advertisement Ethereum is trading at $1,674.5, with almost 2.31% increase in the last 24 hours. Among other prominent cryptocurrencies, the XRP coin price observed a rise of 1.80%. Solana also faced gains, with its price increasing by 6.33%. On the other hand, Polygon (MATIC), which traded on red lines a few days back, is up by 1.30% since the last day.   Polkadot coin price saw an increase of almost 2.53% in one day.  The realm of meme cryptocurrencies tells a different story. In the past 24 hours, Dogecoin’s price witnessed an increase of around 1.74%, while Shiba Inu’s token price is up by almost 1.69%, in the last 24 hours. The Crypto Market tod...

Shopify Welcomes Solana Pay For Instant Payments Solana Pay’s connection with Shopify will offer a ground-breaking solution that expands the reach of decentralized, peer-to-peer payments to a broad network of businesses. Merchants have unparalleled access to real-time money management, improved liquidity control, and liability protection thanks to Solana’s high-speed, low-cost blockchain technology. advertisement   Solana Pay’s ability to cut out traditional middlemen, effectively avoiding bank fees, chargebacks, and protracted holding periods, is one of its most alluring Features . The protocol paves the door for the instant settlement of Solana-compatible USD stablecoins, fostering a simplified payment process that empowers both customers and businesses.   Josh Fried, Head of Commerce Business Development at the Solana Foundation stated, “Solana Pay on Shopify opens up millions of merchants to a more dynamic and efficient pa...

Nathaniel Chastain will reportedly have until Nov. 2 to surrender himself following his conviction for wire fraud and money laundering related to insider trading on OpenSea. A federal judge has sentenced former nonfungible token (NFT) marketplace OpenSea product manager Nathaniel Chastain to 3 months in prison for wire fraud and money laundering related to insider trading on the platform. In an Aug. 22 announcement from the United States Department of Justice, U.S. Attorney Damian Williams said Chastain had been sentenced to 3 months in prison, 3 months of home confinement, and 3 years of supervised release in addition to being ordered to pay a $50,000 fine and forfeit ill-gotten Ether (ETH) from the NFT trades. Inner City Press reported he would be required to surrender himself on Nov. 2, with Chastain's lawyers planning to appeal the decision and request bail. “Respect for the law and general deterrence militate for punishment,” reportedly said the judge at sentencing. “But [Cha...

The Shiba Inu [SHIB] network has been in the spotlight due to its Shibarium update. However, the reception wasn’t entirely favorable. The release gained attention due to a glitch that plagued its introduction. Despite these challenges, a potential shift might be on the horizon, as signaled by the notable increase in the SHIB network’s burn rate. At press time, the burn rate had surged by 1044.95%, as reported by Shibburn. Within the past 24 hours, a total of 1,043,370,687 tokens were out of circulation. Presently, there are 579,473,888,723,589 SHIB tokens in circulation. Source This latest data demonstrated a significant surge when compared to the preceding day, during which the community burned 106,300,211 SHIB through a total of twenty-three separate transactions. Also Read: Shiba Inu: Can Shibarium Still Burn 5 Trillion Tokens Monthly? Can Shiba Inu see a rise soon enough? At press time, SHIB is being traded at $0.00000799, indicating a decline of 2.4% in its...

Magic Eden and Polygon collaborate for $1 million creator fund to boost NFT. Fund aims to support and nurture emerging NFT creators. Successful applicants gain access to Launchpad and Polygon ecosystem. Teaming up with Polygon, leading NFT marketplace Magic Eden has announced the launch of a dedicated $1 million creator fund, aimed to empower and nurture the next generation of NFT creators within the Polygon blockchain. We're excited to announce the launch of our $1,000,000 Creator Fund #onPolygon This program will help the next generation of creators build in the ecosystem as they work alongside our team of industry veterans and advisors. Click the link below to apply pic.twitter.com/wu0sFOtFIv — Magic Eden on Polygon (@MEonPolygon) August 17, 2023 The collaboration, which was officially announced on August 17, marks a significant milestone in the NFT sector’s evolution on the Polygon network. The fund is designed to provide financial ...

The listing of Sei (SEI) on Coinbase drove prices and trading volumes higher. Sei is a platform for trading crypto assets, and SEI enables on-chain transactions and paying fees. DigiToads is also drawing investor attention as TOADS, its native token, is already up 450%. DigiToads, with its Features and tokenomics, is considered one of the best coins to invest in among meme coin enthusiasts. TOADS remains attractive to users due to its high utility and meme nature. Because of TOADS’ quick popularity, crypto enthusiasts wonder if it will also list in major exchanges like Binance. This article discusses TOADS’ presale surge and whether Binance will support it after SEI’s listing on Coinbase. DigiToads blends utility and memetic appeal With more projects launching, the competition in crypto is intense. TOADS has tangible use cases, and its community is active.  Unlike other meme coins, DigiToads’ Features like P2E gaming, non-fungible token (NFT) stakin...

As crypto evolves, some projects stand to shape 2023, subsequently drawing the attention of seasoned investors and newcomers alike. Presently, Borroe, Ripple, and Polkadot are the top projects that investors are closely monitoring. Borroe is a rising star of transformation   Central to this is Borroe, a project whose creators are positive could transform web3. The platform is built on Polygon, a layer-2 blockchain, for scalability while integrating privacy Features .  Borroe aims to enable the web3 community to convert future recurring income into non-fungible tokens (NFTs) at discounted rates for upfront cash investment. You might also like: XRP prices unstable amid ongoing Borroe presale Investors are bullish on the ongoing Borroe presale that is in the first stage. Each ROE, Borroe’s native token, is available for $0.0125; so far, over 37 million coins have been sold. This showcases investor confidence in the project’s viability. ROE is a utility...

A crypto wallet linked to the BNB Smart Chain exploit had three of its positions liquidated after BNB’s price dropped below $220. The sudden market pullback in the crypto space liquidated many traders and, according to data shown on the blockchain, the attackers responsible for the infamous BNB Smart Chain exploit, which led to the theft of almost $600 million worth of BNB (BNB) tokens.  On Oct. 6, the cross-chain bridge by blockchain network BNB Smart Chain was suspended because of an exploit that allowed the hacker s to make off with 2 million BNB tokens, which were worth around $568 million at the time of the theft. On Aug. 18, a crypto wallet linked to the exploit had its collateral, worth more than $53 million, liquidated on the crypto lending platform Venus Protocol, according to blockchain security firm PeckShield. The hacker apparently used the tokens as collateral for a 30-million-Tether (USDT) loan on the protocol. Transaction showing that the BNB exploiter was liquidated...

The Tether (USDT) stablecoin will no longer be issued on the Bitcoin Omni Layer, while redemptions will still be open for at least a year. The issuer of stablecoin Tether (USDT) will dis continue its Bitcoin (BTC) Omni Layer version, citing lack of interest from users. This Bitcoin version of Tether was one of the first stablecoin s ever created. The Bitcoin Cash (BCH) and Kusama (KSM) versions will also be dis continue d, according to an August 17 announcement from the team. Today #Tether announces the ending of the support of 3 blockchains $USDt: OmniLayer, BCH-SLP and Kusama. Customers will be able to continue to redeem and swap $USDt tokens (to another of the many supported blockchains), but Tether won't issue any new additional $USDt on those 3… https://t.co/aghLgqtSuO — Paolo Ardoino (@paoloardoino) August 17, 2023 According to the announcement, no new Tether tokens will be issued on the Bitcoin Omni layer, Kusama, or Bitcoin Cash going forward. Redemptions will remain...

The entire community was getting ready for the highly anticipated launch of Shibarium . Numerous investors were injecting funds into Shiba Inu [SHIB] and its offspring, BONE with expectations of significant gains after the introduction of the layer-2 solution. Amidst this, one prominent investor made an unexpected move. As per data from blockchain sleuth Lookonchain, a whale reportedly sold all its SHIB, BONE token holdings. Subsequently, the investor procured 1.07 trillion PEPE, with an estimated value of $1.28 million. Transaction records detail that the investor sold their entire stash of 979,469 BONE tokens for 787 ETH. This was equivalent to $1.44 million at a rate of $1.47 within the last three days. Following this, they transferred all 143 billion SHIB tokens to Binance after Shibarium ceased generating blocks. This was worth approximately $1.32 million. Source After the introduction of Shibarium , multiple reports emerged detailing problems with token bridging. Users encou...

“Great analysis of Community Notes by Vitalik Buterin,” Musk tweeted .  advertisement Great analysis of @CommunityNotes by @VitalikButerin https://t.co/DXiGAWqSvn — Elon Musk (@elonmusk) August 16, 2023 Recommended Articles Crypto Presale Projects For 2023 To Invest; Updated List Must Read Best Crypto Trading Bots List 2023 Must Read Top Crypto Marketing Firms / Agencies 2023; Here’s Best Picks [Updated] Must Read Crypto Telegram Channels List 2023 [Updated] Must Read Top 10 Web3 Games To Explore I...

Explore seven methods for safely storing your private keys to ensure security of digital assets. In the world of digital assets, private keys act as the ultimate gatekeepers, granting access to your valuable cryptocurrencies and sensitive information. Safely storing your private keys is paramount to ensuring the security of your digital assets. This article will explore seven methods for storing private keys safely . Hardware wallets Hardware wallets are physical devices specifically designed to store private keys securely offline. Examples include Ledger Nano S, Ledger Nano X and Trezor. These devices are immune to online attacks and malware, offering a robust layer of security. Paper wallets A paper wallet involves printing one’s private key on a physical piece of paper and keeping it in a safe location. Websites like bitaddress.org can help users generate paper wallets. However, ensure that the paper and ink are of high quality to prevent degradation over time. Encrypted USB dri...

Ryan Salame, FTX’s former co-chief executive, was declared unavailable to testify and, if subpoenaed, would invoke his right against self-incrimination. Salame allegedly donated more than $24 million to Republican campaigns, violating federal campaign finance laws. Prosecutors claimed that Sam Bankman-Fried made $100 million from political donations and intended to launder the proceeds of his fraud. Ryan Salame, the former co-chief executive of FTX, was declared unavailable to testify, and if subpoenaed, Salame would invoke his Fifth Amendment right against self-incrimination. Molly White, a crypto researcher and software engineer, shared on social media the latest news from the U.S. government’s motion in limine in the Sam Bankman-Fried criminal trial. From the US government's motion in limine in the Sam Bankman-Fried criminal trial: "[Ryan] Salame is unavailable as a witness… Salame’s attorney has represented that if subpoenaed, Salame wo...

Journalist Rebecca Sin of Bloomberg reported that K-Pop ETF is a huge failure. Launched in 2022, the entertainment ETF tracked 30 companies on the Korean Stock Exchange. BTS taking a hiatus and joining the army seems to be the major reason for the failure. K-Pop ETF is a Kflop, says journalist Rebbeca Sin of Bloomberg. Back in 2020, a K-Pop ETF emerged to channel global funds to the cultural phenomenon. However, even though the ETF began with much hope, it is currently not doing too well, according to reports. A K-Pop ETF emerged to channel global funds to the cultural sensation. Spoiler: It’s not going smooth like butter, and takes more than catchy rhythms to take off. Rebecca Sin from Bloomberg Intelligence has more https://t.co/YUXJWKG6sS pic.twitter.com/mL7foQtNKi — Bloomberg TV (@BloombergTV) August 13, 2023 Sin explains that K-Pop bands such as BLACKPINK and BTS typically take over five years from their formation to their official debut. The ...