The service provides code to scammers that allows them to drain wallets using token approval phishing methods A new scam as a service called “Inferno Drainer” has reportedly stolen nearly $6 million from unsuspecting crypto users, according to Web3 scam detecting firm Scam Sniffer. Inferno Drainer reportedly advertises that it provides ready-to-go code to scammers,...Continue Reading

In the latest Cointelegraph Report, we assed the risk of a possible default in the U.S. and the impact of the debt ceiling crisis on crypto and the broader markets. The United States has hit its $31.4 trillion debt ceiling and is now running out of money.  As pointed out by Treasury Secretary Janet Yellen,...Continue Reading

BTC price action destabilizes as markets watch Fed Chair Jerome Powell’s language for hints of policy change. Bitcoin (BTC) nudged $27,000 after the May 19 Wall Street open as the Chair of the United States Federal Reserve delivered comments on policy. BTC/USD 1-hour candle chart on Bitstamp. Source: TradingView BTC price volatility returns as Powell...Continue Reading

Lule Demmissie, CEO of eToro, says that the new partnership with Twitter creates a symbiosis between social networks and social trading. The financial service provider eToro and Twitter recently announced a partnership, which allows users on the social network platform to trade cryptocurrencies and stocks.  This development follows a statement made by former Twitter CEO...Continue Reading

Bitcoin advocate Joe Hall believes that all other cryptocurrency projects will collapse into Bitcoin in the coming years. In this episode of Hashing It Out, recorded on the eve of Bitcoin 2023 in Miami, Cointelegraph’s Elisha Owusu Akyaw spoke to Cointelegraph journalist Joe Hall about what it means to be a Bitcoin (BTC) supporter and the...Continue Reading

The Paraspace CEO and consultants accused each other of mismanaging funds with the Paraspace team asking the CEO to step down publically. The Paraspace NFT protocol saga over the whereabouts of the protocol’s fund took another turn on May 19 as co-founder Jay Yao resigned from his position in the company. Last Week, the NFT...Continue Reading

Bitcoin price could drop to $20,000 in Q3 amid mounting worries about a potential cash liquidity crisis led by the U.S. Treasury Department. Bitcoin (BTC) stares at potential losses heading into the third-quarter of 2023 after U.S. lawmakers will likely reach an agreement on raising the debt ceiling. A $1 trillion liquidity hole ahead Raising...Continue Reading

Pepperdine University professor Beau Brannan believes that NFTs could allow verification for individual courses and give more insight into college degrees. The rise of fake credentials and teachers being undervalued and underpaid are some of the recurring problems that the education sector continues to face. Cointelegraph went on a mission to see if nonfungible tokens...Continue Reading

The stablecoins with the largest market cap are pegged to the U.S. dollar, so what risk does de-dollarization pose to stablecoin users? It is an empirical fact that the United States dollar is continuing to lose its dominant role as the global reserve currency, but what might happen to the stablecoin market should it be...Continue Reading

Backed by industry heavyweights; this new blockchain game aims to get a foothold in the competitive arena. Blockchain-based gaming has gained momentum in recent years as the novel sensation in the crypto universe, to the point where blockchain games accounted for half of all blockchain activity in early 2023. As the trend expands, new players...Continue Reading