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Layer 2: The Future of Ethereum Scalability or a Short-Term Fix?

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As blockchain technology evolves, Ethereum scalability remains a key challenge in the DeFi and dApp ecosystem. Limited throughput and rising transaction fees hinder its growth, particularly during peak traffic periods. For years, this has sparked debates about the platform’s future and its potential for mass adoption. Enter Layer 2 solutions, designed to address Ethereum’s scalability …

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Nigerian Court Denies Bail to Binance Senior Executive

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A Nigerian court has denied bail to senior Binance executive Tigran Gambaryan, who faces money laundering charges. Detained at Kuje Correctional Center since February 2024, Gambaryan has struggled to secure his release. His defense team cited his worsening health, including a severe herniated disc requiring surgery unavailable in Nigeria’s prison system. Justice Emeka Nwite of …

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FBI Launches Fake Cryptocurrency Token, NexFundAi

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The FBI launched “Operation Token Mirrors,” an unprecedented sting operation using a fake cryptocurrency, NexFundAI, in a bid to expose fraudulent activity in the crypto market. Designed as an Ethereum-based token, NexFundAI helped law enforcement identify 18 individuals and companies involved in crypto fraud schemes, including “pump-and-dump tactics” and “wash trading”. Major firms like Gotbit, …

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Crypto.com Files A Lawsuit against The SEC

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Crypto.com has taken bold action, suing the U.S. Securities and Exchange Commission (SEC) over its broad classification of cryptocurrency transactions. This lawsuit follows a Wells notice from the SEC, which warned of potential legal action for alleged securities violations. Crypto.com argues that the SEC is overreaching by labeling most crypto transactions as securities while exempting …

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Native Circle’s USD Coin (USDC) Launches on The Sui Network

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Circle’s USD Coin (USDC) is now live as a native asset on the Sui Network, marking a major leap for blockchain. USDC, one of the most transparent and compliant stablecoins, is fully backed by U.S. dollar reserves and undergoes regular audits, ensuring trust and security. This move strengthens Sui, a high-performance Layer 1 blockchain, by …

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Binance Introduces Scroll (SCR) on Its Launchpool And Premarket

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Binance has launched Scroll (SCR), the 60th project on its Launchpool platform, marking a significant step forward in Ethereum scaling. Scroll is a zkEVM Rollup, designed to be bytecode-compatible, making it a promising development for Ethereum’s ecosystem. Launchpool Details The dedicated webpage for Scroll will go live within 24 hours, just before farming kicks off. …

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Judge Approves FTX Cash Repayment Plan for Crypto Customers

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In a big moment for the crypto space, a U.S. judge approved a unique bankruptcy plan for FTX, once the third-largest crypto exchange by volume. This decision ended a rough period that began when FTX collapsed in November 2022. A liquidity crisis revealed an $8 billion shortfall. The plan will repay $16 billion to creditors. …

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Certik Highlights Security Challenges in the Crypto Industry

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Certik, a cyber security firm discloses that although the frequency of hacks decreased in the last quarter, the total value extracted by thieves dramatically increased. According to its latest Web3 security report, hackers stole $750 million across 155 incidents, bringing the year’s total losses to nearly $2 billion. Takeaways from the Certik report Despite 27 …

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PocketFi Prepares for Governance token TGE, $Switch

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PockeFi is a platform that simplifies complex DeFi tasks, offering users easy access to services like cross-chain token swaps, staking, yield farming, and copy trading, via its Telegram Mini-App.  It has recently acquired over 9 million users, positioning itself as one of the most popular Telegram-based DeFi platforms. It has initiated preparations for the upcoming …

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