Friend.tech, the newest social app for web3 launched early this month, has already been pronounced ‘dead’ by industry speculators following a sharp decline in inflows, volume, etc.Friend.tech is a blockchain-based platform that lets users buy and sell cryptos linked to their favorite influencers on Twitter, which act as “keys” to…

Despite recent concerns about further potential interest rate hikes by the Federal Reserve, Bitcoin has shown notable resilience according to analysts. This comes after Fed Chair Jerome Powell’s speech at the annual Jackson Hole symposium last week, where he indicated that more rate hikes may be on the horizon as…

Today, Los Angeles-based media conglomerate Impact Theory came under scrutiny after being accused by the Securities and Exchange Commission (SEC) of executing an unregistered sale of crypto asset securities in the form of non-fungible tokens (NFTs). Details of the ChargeImpact Theory’s recent endeavor involved raising close to $30 million by offering…

Ethereum’s total daily transaction fees hit an eight-month low after it plunged to 1,719 ETH approximately $2.1 million on Aug 27.The recent decline in total gas fees can be attributed to low network activity and the rise of layer 2 scaling solutions.According to data from on-chain analytics firms CryptoQuant and…

OKX and Bybit are the latest digital asset exchanges to delist sanctioned Russian banks from their peer-to-peer (P2P) services. Two Russian banks, Tinkoff Bank and Sberbank have both been removed from P2P services of some crypto exchanges due to Western sanctions following the invasion of Ukraine.According to local sources, crypto users…

In a confidential revelation to cryptonews, Galxe, a pioneering Web3 community development platform, has declared the imminent launch of the Galxe Protocol, a permissionless self-sovereign identity infrastructure set to reshape the landscape of digital identities.Having distributed over 100 million credentials to more than 12 million unique users through reward-driven campaigns…

The Ethereum price has dropped by 1% in the past 24 hours, falling to $1,633 as the cryptocurrency market as a whole slips by 0.5% in the same amount of time.ETH is now down by 2% in a week and by 12% in the last 30 days, with the coin…

Decentralized finance protocol Balancer was exploited for nearly $900,000 on Sunday, a few days after a critical vulnerability was reported affecting a number of V2 pools. Blockchain security expert Meier Dolev revealed the identity of the hacker who exploited the vulnerability. The hacker’s Ethereum address came under scrutiny as it received two…

Digital ruble scammers have reportedly struck in multiple Russian regions, with fraudsters apparently hoping to dupe citizens who do not yet fully understand how the CBDC works.Media outlets around the country say that scammers are sending citizens emails that use commercial and Central Bank logos.The emails claim that if citizens…

The Bitcoin mining difficulty, a measure of how difficult it is to mine a block, just hit a new all-time high at 55.62 trillion hashes, as per CoinWarz.The Bitcoin mining difficulty is automatically adjusted by the protocol once every two weeks, or once 2,016 blocks have been mined, with these…