Author: Jennifer John

The Irish Data Protection Commission (DPC) has initiated high court proceedings against social media company X ( formally known as Twitter) for alleged data privacy violations. This move comes as part of the DPC’s mandate to enforce the European Union’s data protection regulations. The case is tied to “X” and xAI’s “Grok” artificial intelligence model. According to Irish news site RTE, the DPC acted after X reportedly refused to stop collecting data from EU users.  The DPC had hoped for a cooperative resolution, as indicated in a statement on July 25, but X did not meet the anticipated response deadline.…

MicroStrategy executive chair Michael Saylor disclosed in an interview on Aug. 7 that his personal Bitcoin holdings are worth over $1 billion, placing him among the elite group of BTC “whale hodlers.” During the Aug. 7 interview on “Bloomberg Open Interest,” Saylor addressed concerns about Bitcoin mining’s environmental impact while passionately defending the digital asset’s role in the future of finance. Personal stash In conversation with Bloomberg Television’s Sonali Basak, Saylor confirmed his substantial personal investment in Bitcoin. When asked about his Bitcoin holdings beyond those of MicroStrategy, he said: “I do have significant personal Bitcoin holdings. About four years…

Onchain Highlights DEFINITION: The 30d change of the supply held in miner addresses. Bitcoin miner net position change reveals continuous net selling in 2024. Analyzing the data from Glassnode, the miner net position has predominantly shown red bars, indicating a persistent trend of miners offloading their holdings. However, selling has started to decline since April. Selling pressure has been a key factor influencing Bitcoin’s price, which has oscillated around $50,000- $70,000 since the April 2024 halving. This ongoing trend is in stark contrast to the past five years, when periods of net accumulation often coincided with price rallies, such as…

Metaverse land prices have fallen nearly 95% from their peak values, according to a CoinGecko report. In 2024, the cost of metaverse lands ranged between 0.08 ETH and 1.88 ETH, representing an average 72% drop from their all-time high. Over the years, the price drops compared to their peaks were 34% from 2023 and 55% from 2022. Among the various metaverse projects, Sandbox has experienced the most notable decline. Its average floor price fell from 2.86 ETH in 2021 to 0.13 ETH in 2024, marking a 95% decrease.  Conversely, NFT Worlds, which rebranded to TOPIA Worlds in 2023 under the…

The court has levied a $125 million fine on Ripple in the lawsuit filed by the US Securities and Exchange Commission (SEC), ending the four-year-long dispute. XRP’s price leaped 18% in minutes after the news broke and was trading at $0.61 as of press time, based on CryptoSlate data. District Judge Analisa Torres from the District Court of the Southern District of New York partially rejected the SEC’s motion for remedies, which demanded over $2 billion from Ripple as compensation for allegedly selling XRP as an unregistered security. According to the filing: “The Court shall enter a final judgment enjoining…

Spot Ethereum (ETH) exchange-traded funds (ETFs) registered $98.4 million in inflows on Aug. 6, the second largest inflow since the funds began trading in July, based on Farside Investors’ data. Notably, this was the second consecutive day of inflows for spot Ethereum ETFs traded in the US, amounting to $147.2 million. BlackRock’s ETHA assets under management (AUM) grew nearly $110 million on Aug. 6, while Fidelity’s FETH recorded $22.5 million inflows. Meanwhile, Grayscale’s ETHE continued to record outflows, with Aug. 11 marking 11 consecutive trading days in the negative. However, the fund posted the lowest amount in daily outflows since…

WazirX, its infrastructure partner Liminal, and other related organizations are experiencing legal issues as a result of a $230 million large crypto asset heist. On August 5, a petition citing Sections 213(b) and 221 of the Companies Act, 2013 was submitted to the National Company Law Tribunal (NCLT) in Indore. If a firm is suspected of mismanagement or fraudulent activity, Section 213(b) permits inquiries into its affairs, and Section 221 permits the freezing of the company’s assets during such investigations. The respondents in the petition include the Ministry of Home Affairs (through the principal secretary), the Ministry of Finance (through the…

Ethena Labs has expanded its “synthetic dollar” USDe to the Solana blockchain and revealed intentions to add the SOL token as a backing asset for the stablecoin, according to an Aug. 7 statement. USDe’s integration with Solana was achieved through LayerZero’s omnichannel fungible token (OFT). Ethena Labs noted that over 90% of Solana’s $3.5 billion stablecoin supply does not offer rewards. USDe aims to fill the gap and attract new users by allowing them to transact on Solana while earning rewards through its staked version, sUSDe. Furthermore, the company plans to propose SOL and a liquid staking version — jitoSOL…

The post Cardano could fall another 12%, ADA price prediction for August 8 appeared first on Coinpedia Fintech News In this ongoing market recovery, most of the top assets including Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) have experienced a significant upside move. Whereas, the Proof-of-stake (PoS) blockchain Cardano (ADA) remains dull compared to the top 10 assets by market capitalization.  ADA open interest declines by 8% With its decent performance, ADA looks bearish. At number 10 with a market capitalization of over $11.63 billion, it is currently trading near $0.324 and has experienced a price drop of 2% in…

Polymarket bettors wager on the outcome of the United States presidential election is now a “tossup,” the crypto predictions platform said in an August 7 post on the X platform. Current betting odds show Republican candidate Donald Trump leading slightly with 51%, while Democratic nominee Kamala Harris trails closely at 48%. This marks a significant shift, as Trump had maintained a stronger lead since June. Source: Twitter Users of Polymarket, a decentralized prediction market platform, can wager with cryptocurrency on the results of actual events. The figures are based on live bets on the platform totaling over $500 million that…