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Layer-1 block chain Terra has shut down its website to protect its users from hackers and phishing attacks. The company said it’s better for its users to avoid accessing their website until a new announcement is made. 1/ Update: The terra(dot) money domains have successfully been frozen to prevent further user phishing scams, but a full resolution is still underway. Please read the following for more information — Terra Powered by LUNA (@terra_money) August 22, 2023 Shutting down the website comes from hacking attacks the company suffered during the weekend. On Aug. 19, Terra posted a warning announcement, telling its users not to interact with the Terra Money website until new updates about its status were published. To all Terra users, Please do not interact with any sites with the terra(dot)money domain until we put out another update. Although sites are coming back online, the team is still working to secure full access to the domain. During this time,...

Craig Wright, the self-proclaimed creator of Bitcoin [BTC], recently emerged in the news again. During the decline of numerous crypto projects and the 2022 market crash, Wright kept a relatively low profile. However, the limelight is now on him as James Mellor, a judge at the England and Wales High Court, ruled that Wright must provide 400,000 British pounds or $516,000 as security for legal expenses. This is in order to pursue his allegations against crypto exchanges Coinbase and Kraken. Back in 2022, Craig Wright filed a lawsuit against Coinbase and Kraken , blaming them for copyright infringement. The entrepreneur asserted that both exchanges, especially Payward, the operator of Kraken , violated his intellectual property rights by using the term ‘Bitcoin’. Also Read: Craig Wright , Self-Proclaimed Satoshi Nakamoto Has Sued Coinbase and Kraken for “Misrepresenting” Bitcoin Here’s why the Judge is doubtful of Craig Wrights’s financial ...

Which age group owns the most crypto? We’ve analyzed the latest studies on cryptocurrency adoption to explore the ownership trends among different generations . Millennial dominance in crypto adoption Millennials seem to have the highest ownership rates among all generations. They are the dominant group of crypto enthusiasts, accounting for 46% of the respondents, the study by Bitget, a crypto derivative and copy trading platform, shows. The company analyzed over 255,000 survey responses from 26 countries between July 2022 and January 2023. They categorized participants into four age groups: baby boomers (born pre-1964), Gen Xers (born 1965-1980), millennials (born 1981-1996), and Gen Z (born post-1997).  Millennials and Gen Z have the highest crypto ownership rates | Source: Bitget The Bitget study also suggests millennials and Gen Z individuals are more favorable towards cryptocurrencies due to their familiarity with the internet and digital technologies. Growing up in ...

Bakkt Holdings’ research report reveals sustained interest in cryptocurrencies among market participants, emphasizing the need for regulatory clarity in driving adoption. Fintech firms a gateway for crypto adopters In its latest crypto ecosystem study, Bakkt Holdings Inc (NYSE: BKKT) delved into the sentiments, adoption rate, and concerns of over 2,000 U.S. residents who own or are interested in cryptocurrencies.  The study sheds light on their attitude toward crypto regulation, consumer protection, and the factors influencing their interest in digital assets. Despite the recent negative volatility in the global digital assets market, the study found that 84% of current crypto holders remain interested in making further purchases, with only 27% of crypto-curious respondents signaling interest in investing in the nascent digital asset class, representing an 11 percentage point drop since the first phase of the study in October 2022.  The researchers also found that news and ev...

Numerous companies are still suffering from the crypto bear market. Popular blockchain Analysis firm Nansen has announced a significant reduction in employees in order to stay afloat. On May 30, CEO Alex Svanevik disclosed an “extremely difficult decision” to scale back the company’s workforce. He announced that 30% of employees will be laid off. Nansen is the latest firm to join the long list of companies that have let go of employees due to harsh market conditions. Svanevik gave two primary reasons for the crypto firm reducing its staff. First of all, he claimed that the business expanded too quickly in its early years of operation. Second, he claimed that the cryptocurrency markets have had a “brutal” year since 2022. Svanevik said that the firm’s “cost base is too high relative to where the company is today.” According to Svanevik, Nansen has “several years of runway,” but only if it can become sustainable. He explained that achieving sustainability entails “reducing our su...

Notably, the SEC plans to employ this strategy to broaden the market participation in Nigeria. At the same time, the regulator plans to maintain the Central Bank of Nigeria’s stance to not offer cryptocurrency trading to citizens of the nation. advertisement Abdulkadir Abbas, head of SEC urities and investment services at the SEC confirmed the plans of the regulator, saying the commission will “…like to start, as a regulator, with a very simple clear proposal before we go into the complex ones.” As it stands, the watchdog has begun to process applications for digital exchanges on a trial basis. According to the set-out blueprints, these crypto exchanges will go under a one-year regulatory incubation period during which they would be under the close supervision of the SEC. In the course of the one-year regulatory incubation, only a limited range of services would be offered by these entities. In the end, the Nigerian regulator would ...