The 84% decline in Worldcoin illustrates how regulatory scrutiny and subpar tokenomics are killing the project defence.
Launched with great fanfare in mid-2023, Worldcoin (WLD) set out to build a global identity verification system using blockchain technology, led by high-profile tech figure Sam Altman. However, despite the initial excitement, Worldcoin has suffered a dramatic 84% decline in value, dropping from an all-time high of $11.78 in March 2024
Vitalik Buterin Contributes An Additional 100 Ethereum to the Legal Defence of Tornado Cash Developer
Ethereum co-founder Vitalik Buterin has once again shown his support for Tornado Cash developer Roman Storm, donating 100 Ether, around valued at $240,000, to Storm’s legal defense fund. This marks Buterin’s third donation to the fund, which is aimed at helping Storm fight the charges brought against him by U.S. authorities.
Successful Regulated Liability Network Trials Announced by UK Finance
UK Finance, in collaboration with leading tech firms Quant, R3, DXC Technology, and Coadjute, has published a report detailing the success of the Regulated Liability Network’s (RLN) experimentation phase. The project, designed to modernise the UK’s financial system, integrates central bank money, commercial bank money, and electronic money into a
Is There a Local Bottom for Bitcoin? The Views of CryptoQuant Analysts
According to crypto analytics firm CryptoQuant, Bitcoin (BTC) may have reached a local bottom following the significant liquidation of long positions in the futures market. Despite the ongoing downtrend and technical indicators pointing to further declines, reduced selling pressure could suggest the potential for a short-term recovery. Major Liquidation Event Could
Coinbase to Delist Unauthorised Stablecoins in Europe by 2024
Move aims to comply with the EU’s new MiCA regulations. Coinbase has announced plans to delist stablecoins that fail to comply with the European Union’s Markets in Crypto-Assets (MiCA) regulation by the end of 2024. The decision impacts stablecoins operating within the European Economic Area (EEA) and underscores a major
WazirX Removes Video Promising 100% Profit Sharing
Users left frustrated as crypto exchange backtracks on claims made during YouTube town hall. WazirX, one of India’s largest cryptocurrency exchanges, has removed a YouTube video in which management promised users 100% profit sharing from future cryptocurrency price appreciation. The video was part of a one-hour town hall session on
Can China’s faltering economy be turned around?
China’s economy is struggling. With an ambitious target of 5% growth this year, the country is dealing with weak consumer spending, a failing property market, and international pushback against its goods. By September, it was clear that hitting the goal was just plain impossible. In a last-ditch effort, Beijing rolled
BCB Group Successfully Completes FCA Investigation
The payment processor BCB Group, which connects cryptocurrency companies in the United Kingdom with the banking system, has announced the closure of an investigation initiated last year by the UK’s financial services regulator. According to two sources familiar with the matter, the Financial Conduct Authority (FCA) sent a “s166 notification” to BCB
Is FTX Exchange Going to Resurface This Alt Season When FTT Price Approaches $5?
The bearish action in the crypto market has led to top projects such as Bitcoin, Ethereum, and others losing momentum. However, FTX has been one cryptocurrency that has gained significant pace within a short period. Further, with a jump of ~30%, it has secured the position of top gainer among
Solana Flips Ethereum in DEX Volume: DeFi Dominance Shifts
For the first time in forty-three days, Solana surpassed Ethereum in weekly decentralised exchange (DEX) volume. Over the last seven days, Solana handled $9.1 billion across its DEXs, just surpassing Ethereum’s $9.09 billion, according to data from DeFiLlama. In terms of DEX volume, this is the third “flippening” between the
