Hackers reportedly stole over $600 million from a blockchain network this past week in one of the biggest hack attacks in the cryptosphere to date. Thieves targeted Ronin Network, the blockchain behind Axie Infinity, a popular online game with roughly 2.5 million monthly users. Ronin Network said on March 23, 2022, hackers took 173,600 Ether…

President Joe Biden has signed an executive order directing the Treasury Department to study the impact of cryptocurrency on financial stability and national security. The order also urges the Federal Reserve to explore whether the central bank should create its own digital currency. According to a White House fact sheet on the order, it outlines “the…

Struggling under crippling economic sanctions and currency collapse, Russia is financially fleeing to a familiar safe haven: gold. And with the growing prevalence of cryptocurrencies, experts expect Vladimir Putin will also turn to the less familiar, non-tangible asset. The gold standard After a 2-year pandemic pause, Russia’s central bank announced this week it is restarting…

Financial regulators warned Tuesday that cryptocurrencies could be a threat to the stability of global markets. The Financial Stability Board is an international group tasked with assessing systemic risk, and in an updated risk assessment, members concluded that the fast-evolving cryptocurrency market could be a threat, “due to their scale, structural vulnerabilities and increasing interconnectedness…

British authorities seized non-fungible tokens connected to a tax probe in what’s believed to be the first seizure of its kind for the United Kingdom. Officials at Her Majesty’s Revenues and Customs said they seized three digital art NFTs and £5,000 in crypto assets as part of an investigation into a £1.4 million ($1.9 million)…

Elon Musk, the world’s richest man, is considered one of the most influential people globally, but those titles do not come without criticism. At age 50, the Tesla and SpaceX CEO continues to shake up the auto industry and expand the possibilities of space travel.  In 2021, Tesla reported record growth in each quarter as…

A rare 555.55-carat black diamond, dubbed “The Enigma,” will be up for auction in February. Auction house Sotheby’s expects the diamond to be sold for at least $6.8 million. “The shape of the diamond is based on the Middle-Eastern palm symbol of the Khamsa, which stands for strength and it stands for protection,” jewelry specialist…

The CEOs of six cryptocurrency companies appeared on Capitol Hill Wednesday, taking questions about the crypto industry from the House Financial Services Committee. Committee chair Rep. Maxine Waters (D-CA) said the hearing will allow Congress to determine the next steps when it comes to regulating the industry. “Currently, cryptocurrency markets have no overarching or centralized regulatory…

Bitcoin dropped by almost 5% on Monday after a bruising weekend when, at one point, it lost over a fifth of its value. It’s now trading at roughly $49,200, down from about $57,000 at the beginning of December. Traders said the fall was connected to a broad move away from riskier assets in traditional markets…

Anschutz Entertainment Group (AEG) announced Tuesday the name of the iconic Staples Center in downtown Los Angeles will soon change to Crypto.com Arena. According to a news release on the Staples Center website, the name change is part of an “historic, 20-year naming rights agreement” costing $700 million. AEG and Crypto.com will unveil the venue’s…