Cryptocurrency Analysis and News Portal
Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week.May was a month filled with exit scams in the DeFi world, with over $45 million lost to exit scams, while exploits on
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The amount of cryptocurrency lost to "rug pull" or "exit scams" — where founders suddenly up and leave with investors’ money — had outpaced the amount stolen from decentralized finance (DeFi) projects in May, a blockchain security firm has revealed.A June 1 report from Beosin said in May total losses
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Prices of virtual lands on some of the top metaverses have declined significantly from their peak prices of 2022, with most depreciating around 90% in value.A study published by CoinGecko shows that popular metaverse properties, such as Otherdeeds, The Sandbox, Decentraland, Somnium and Voxels, have all depreciated in value during
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Japan is the biggest loser of cryptocurrency to North Korean hackers, according to a study by blockchain analyst Elliptic. Asian countries make up three of the four top targets for the so-called Hermit Kingdom’s hackers, Elliptic found.The study, commissioned and reported on by Japanese financial publication Nikkei, looked at losses
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Bitcoin (BTC) sought to recover $27,000 into the May 14 weekly close as volatility picked up out of hours.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewBTC price gains over 7% in two daysData from Cointelegraph Markets Pro and TradingView showed BTC/USD spiking to $27,200 on Bitstamp.Its highest in several days, the
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The U.S. Federal Reserve has revealed that 722 banks reported unrealized losses exceeding 50% of their capital at the end of the third quarter of 2022. “Rising interest rates are creating significant unrealized losses in investment securities and in some cases depressing tangible equity,” according to the Fed’s Division of
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Traders of U.S.-based crypto exchange Coinbase (COIN) will likely get some relief when the company reports first quarter earnings for 2023 on Thursday. Source
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Researchers at Indiana University and the University of Maine recently published a study examining the current state of cryptocurrency tax law in the United States. The research concludes with recommendations for the Internal Revenue Service (IRS) that, if adopted, would prevent taxpayers from weighing crypto losses against other capital gains.The
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The CryptoX Market Index (CMI), which tracks the performance of the broader crypto market, plummeted 5.6% in an hour. Source
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Bitcoin’s downturn continued on Friday, as prices fell for a third consecutive session, leading to a move below $28,000. Market sentiment has shifted in recent days, as traders began taking profits from last week’s high. Ethereum was also lower, and is now trading around the $1,900 region. Bitcoin Bitcoin (BTC) moved lower
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