Global

South Korean authorities have made significant strides in tackling a major cryptocurrency Ponzi scheme, resulting in the arrest and indictment of Byun Young-oh, CEO of tech firm Wacon, and his accomplice, Vice Chairman Yim Mo-Soo.

The U.S. Securities and Exchange Commission (SEC) has intensified its crackdown on cryptocurrency fraud with a recent complaint against NovaTech, a company operated by Cynthia and Eddy Petion.

XRP, the cryptocurrency associated with Ripple, is facing a crucial test as it struggles to break through a significant resistance level. Recent trading activity has shown XRP bumping against this key barrier, raising questions about whether bullish momentum can drive a new upward trend.

Polymarket, a leading prediction market platform, has announced a strategic partnership with the AI search engine Perplexity. This collaboration, unveiled on Monday, aims to enrich the user experience by integrating Perplexity's advanced search capabilities to offer news summaries on prediction events.

Ethereum (ETH) has seen a dramatic drop in gas fees, reaching a multi-year low of 0.82 Gwei as of August 11. This significant decline in transaction fees highlights a period of reduced activity on the Ethereum network, coinciding with a broader downturn in the cryptocurrency’s price.

BlackRock’s IBIT Bitcoin ETF has recently achieved a significant milestone, becoming the world’s third-largest holder of Bitcoin, behind only the enigmatic Satoshi Nakamoto and Grayscale.

On Monday, a highly anticipated Twitter Spaces interview featuring former President Donald Trump and Tesla CEO Elon Musk drew over a million listeners, as many in the crypto community hoped for significant commentary on the industry.

In early trading hours, Bitcoin (BTC) surged above $60,000 before experiencing volatile swings within the $58,500 to $59,700 range. This fluctuation coincided with Marathon Digital Holdings Inc.'s announcement of a $250 million debt offering to acquire more Bitcoin, which significantly impacted market sentiment.

Bitcoin (BTC) has recently entered a short-term bearish phase, falling below the $60,000 mark and dropping beneath $59,500 and $58,000. After hitting a low of $57,690, the cryptocurrency has begun a modest recovery.

On August 11, 2024, Bitcoin mining revenue hit a new yearly low, falling to $2.54 million. This marks the lowest daily earnings for Bitcoin miners since October 2023.

Hong Kong is ramping up its efforts to attract top tech talent and enhance its digital infrastructure as part of a broader strategy to bolster its technology sector.

The cryptocurrency market is no stranger to extraordinary rallies and rapid price surges, with Shiba Inu (SHIB) famously rising to prominence during the 2021 bull market.