Category Archives: crypto-news-flash.com

Gate.io Announces It Will Make Its Merkle Tree Proof of Reserves Solution Open-Source

Majuro, Marshall Islands, 10th November, 2022, ChainwireThe cryptocurrency exchange Gate.io has made its Merkle Tree Proof of Reserves solution open-source. Announced by Gate.io’s Founder and CEO, Dr. Lin Han today, the exchange hopes other platforms can use its open-source solution to increase transparency and industry health and welcomes other exchanges to receive consultancy and advisory support.In cooperation with leading U.S. firm Armanino LLP,Gate.io was the first to conduct Proof of Reserves audits in this manner back in 2020. Recently, the pair completed another audit. As outlined in a report from Armanino LLP,Gate.io holds an excess of BTC and ETH reserves at 108% and 104%, respectively.Gate.io has been vocal about its commitment to enhancing confidence in the market since announcing the new audit this year and hopes that other exchanges will follow suit. Gate.io’s audit solution combines certified third-party assessments with cryptographic Merkle Trees, one of the core components of blockchain technology. It allows users to openly and independently verify their assets are included in the audit and increases the transparency of users’ balances on exchanges. Following the announcement, it is now open-source and publicly available for any exchange to implement.100% PoR Solution: https://www.gate.io/proof_of_reservesFollow us for the latest crypto news!Open-Source on GitHub: https://github.com/gateio/proof-of-reservesSecond PoR audit report by Armanino LLP: https://proof-of-reserves.trustexplorer.io/clients/gate.ioAbout Gate.ioEstablished in 2013, Gate.io has nearly a decade of safe and secure operations and an outstanding selection of digital assets, currently at 1500+ cryptocurrencies and 2800+ trading pairs. It offers a wide range of trading products, such as spot, P2P,  margin, leverage, copy trading, and much more.ContactHead of PR & CommunicationDion [email protected]

Ripple partners with ProprHome to revolutionize real estate market – Will it drive XRP price to $10?

Source: Wit Olszweski – ShutterstockRipple, in collaboration with ProprHome, plans to create a revolutionary path in Portugal’s real estate market. ProprHome creates “Customer Education-ProprHome” in a bid to familiarize users with the platform.Ripple, in partnership with ProprHome, set out to create a revolutionary way to buy, sell and rent real estate in Portugal. The new method will utilize the XRP ledger, an open-source layer 1 blockchain using an NFT utility. Also, it will allow potential buyers to carry out faster, more reliable, and more energy-efficient transactions.Interestingly, the three entities: Ripple, ProprHome, and XRP Ledger, share similar characteristics and purposes. These platforms are fast, efficient, and transparent. In fact, the primary goal of the partnership is to mitigate the rigorous process of buying, selling, or renting homes in Portugal. Ripple and ProprHome partner on Portugal real estate revolutionRipple announced the partnership between the two firms, while ProprHome explained the significant changes in its mode of operation. Prior to the partnership, ProprHome, a blockchain-enabled real estate marketplace, announced its plan to change how people trade and rent homes in Portugal.👉This is interesting.👀@Ripple announces partnership with ProprHome: the real estate revolutionProprHome – Property marketplace developed on #XRP Ledger for agents, developers & owners. A new way to earn trust and credibility in each sales interaction.https://t.co/jzyi3pA5w0— ☀🌸Crypto Eri 214k Followers (beware of imposters) (@sentosumosaba) November 8, 2022Every NFT used on the platform will be minted on the XRP Ledger, a fast and energy-efficient blockchain for asset tokenization. In addition, the XRP’s speed and reliability will help facilitate interactions between real estate clients and their agents. Nevertheless, clients will be able to control the offer and acceptance procedure for every transaction. Follow us for the latest crypto news!The CEO of ProprHome, John McCoy, while commenting on the company’s recent partnership with Ripple, said:ProprHome and our partner Ripple share the same vision of the tokenization of assets with functional utility. We see the potential of an online real estate market that leverages blockchain technology to improve real estate interactions dramatically. We have trusted in the reliability of XRP Ledger for over ten years to serve as our preferred blockchain for its tokenization and settlement capabilities.More on the Ripple-ProprHome collaborationThe highly competitive real estate market in Portugal uses customer experience as a deciding factor. ProprHome sets out to provide a well-trusted platform where clients can access suitable professionals. The partnership between ProprHome and Ripple will offer different types of tokens, beginning with utility tokens for digital property certificates (DOC). Only customers who plan to buy or rent a property using the ProprHome platform can use the DOC token. DOC gives customers the right to use a particular property, eliminating the onboarding verification and approval process. ProprHome plans to have its own native token called Propr (PRP). It is a reputation currency that agents, developers, and owners can earn and exchange for additional exposure. PRP tokens will encourage a positive real estate experience by rewarding users for good practices. ProprHome leverages the XRP ledger to provide transparent and immutable data to all real estate participants Furthermore, ProprHome created the “Customer Education-ProprHome” project to educate and enable customers to make better market decisions. It has also prepared to inform users of the basic blockchain terminologies involved in the platform. ProprHome plans to provide users with an NFT minting guide. 

BREAKING IOTA News: SMR now supported by Crypto Finance Group – Will it drive the price back up?

FINMA-registered regulated crypto asset manager Crypto Finance Group will offer trading and custodial services for IOTA’s SMR Token.This is likely to increase private and institutional adoption of shimmer tokens (SMR) going forward.A month after the launch of its Shimmer Network, open-source distributed ledger IOTA announced that Crypto Finance Group will be the first regulated custody and brokerage provider. Thus, the Crypto Finance Group will support the trading and storing of Shimmer’s native cryptocurrency SMR tokens.Swiss-based storage provider Crypto Finance Group has been in a long-standing partnership with the IOTA Foundation. It was also the first professional IOTA token storage provider globally.The Crypto Finance Group is a FINMA-registered regulated crypto asset manager. It provides all services offered by a FINMA-regulated securities firm such as 24/7 crypto brokerage, crypto custody services, storage infrastructure, as well as tokenization solutions. Being part of the Deutsche Börse Group, Crypto Finance Group offers its service to professional and institutional investors. Speaking on the development, Dominik Schiener, Co-Founder of the IOTA Foundation, said:Our relationship with Crypto Finance Group continues to drive innovation and adoption. We welcome their decision to trade and store SMR – the tremendous expansion of projects and token holders since Shimmer’s launch in October shows the market’s confidence in the token and the network’s possibilities.We believe that this integration will enable seamless, regulatory-compliant, and safe access for institutional and private investors alike.Institutional exposure to Shimmer’s SMR tokensWith Shimmer’s recent integration with the Crypto Finance Group, the native token SMR will get institutional exposure. Besides, private and institutional investors will now be able to trade SMR tokens in a regulatory-compliant manner as the Crypto Finance Group is a FINMA-regulated service provider.Follow us for the latest crypto news!Crypto Finance’s trading desk has already enabled the trading of SMR tokens since the token launch. It started offering custodial services last week on November 4. Kasper Luyckx, Head of Product at Crypto Finance AG, said:At Crypto Finance, we are committed to offering a wide range of products and services to institutional clients to help build a diversified portfolio. We believe in a long-term stable relationship with our partners and clients to build on our combined synergies and knowledge.We are excited to announce support for SMR, the native token on the Shimmer network. Clients can now trade and store SMR tokens, leveraging Crypto Finance’s institutional-grade infrastructure solution.Shimmer serves as a Layer-1 staging and validation network for the IOTA blockchain. Before introducing new innovations to the IOTA blockchain, the Shimmer Network serves as a testbed for developers to build applications and test new features. Similar to IOTA, Shimmers has been built using the Directed Acyclic Graph (DAG) framework.The recent news can probably help the Shimmer token (SMR) to rally as it is now open to institutional adoption. The shimmer token has been under selling pressure over the last month. As of press time, SMR is trading at a price of $0.05.

KuCoin lists AirDAO’s $AMB token with a $USDT pair

Lausanne, Switzerland, 9th November, 2022, ChainwireKuCoin has announced it will list AirDAO’s $AMB token with a USDT pair on November 9th.The announcement gives KuCoin’s 25 million global users the opportunity to participate in AirDAO’s up-and-coming DeFi ecosystem, boosting its rapidly growing international community and marking another exciting exchange listing for AirDAO. KuCoin is running a Net Holding competition as part of the events surrounding the listing, with $30,000 in $AMB tokens up for grabs for participants. Also, KuCoin will launch a Twitter airdrop and a participation reward campaign to promote the listing.Previously known as Ambrosus, AirDAO is the first DAO to govern a layer-one blockchain. The flagship AirDAO Dashboard simplifies the complexity of DeFi trading into a single intuitive interface of cutting-edge Decentralized Applications (dApps) running on the Ambrosus Network (AMB-NET) — a fast, ultra-secure, layer-one blockchain with low-cost transactions.AirDAO’s multichain capabilities have expanded with the recent release of the Ethereum Bridge, complementing the BNB Smart Chain Bridge and enabling users to transfer crypto assets from Ethereum to AMB-NET. The Ethereum Bridge marks a giant leap towards AirDAO being an all-in-one, multichain DeFi dashboard and is a landmark update for the nascent ecosystem.About KuCoin Follow us for the latest crypto news!Since its founding in 2017, KuCoin has rapidly expanded from its original seven co-founders to a global team of over 1,000 employees. Along with the fast growth in the number of users and the team, the cumulative trading volume of the KuCoin platform has exceeded $2 trillion, with the highest single-day trading volume exceeding $30 billion. Kucoin leverages cutting-edge technologies to create useful services to improve accessibility to the blockchain revolution — an alignment of interests with AirDAO’s vision for a user-friendly, powerful crypto dashboard that opens Web3 to the world.For more information::airdao.io Telegram Twitter  ContactMarketing ManagerLena [email protected]

Gate.io Proof-of-Reserves Audit Shows User Asset Reserves Exceed 100%

Majuro, Marshall Islands, 9th November, 2022, ChainwireThe global cryptocurrency exchange Gate.io has proven that it holds 108% of total user BTC assets in its reserves, according to the independent third-party firm Armanino LLP, which released the findings in a report following the completion of a proof-of-reserves assessment. In addition, the report found that 104% of users’ ETH assets are also accounted for, meaning Gate.io’s BTC and ETH reserves exceed the total amount of user assets.A unique approach to proof-of-reservesCrypto exchanges initiate proof-of-reserves attestations to show that users’ asset balances are genuinely held and exist on the exchange. Although proof-of-reserves has been around for years, Gate.io was the first to conduct them with a high degree of transparency and in a user-verifiable and cryptographic manner.Gate.io has patented a method that allows users to securely and privately verify their inclusion in the attestation through a cryptographic Merkle Tree, one of the core components of Bitcoin. Armanino LLP, a leading global accounting, consulting, and technology firm, compiles and publishes Gate.io’s asset balance data in the Merkle Tree.Gate.io takes these extra steps to provide greater security and transparency to its more than 12 million global users. With this method, users can worry less about their assets becoming unavailable in the event of increased withdrawal activity or insolvency.Why involve a third party?Follow us for the latest crypto news!A trusted independent entity is needed to provide confidence and credibility when conducting a proof-of-reserves attestation. In this case, Gate.io enlisted Armanino LLP, one of the top 25 largest independent accounting firms in the United States. Armanino LLP is a member of the American Institute of Certified Public Accountants and the Center for Audit Quality and is licensed by the California Board of Accountancy.Putting security above allCEO and Founder of Gate.io, Dr. Lin Han, said, “Security is our number one priority, specifically the security of users’ cryptocurrency. We remain committed to putting the safety of users first, and one way we accomplish this is through our proof-of-reserves model.”The Gate.io cryptocurrency exchange, which provides trading and blockchain-related services to millions worldwide, operates with a “security first” philosophy. By following up with another proof-of-reserves attestation, Gate.io is showing that it continues to operate safely and transparently, upholding its philosophy.About Gate.ioEstablished in 2013, Gate.io has nearly a decade of safe and secure operations and an outstanding selection of digital assets, currently at 1500+ cryptocurrencies and 2800+ trading pairs. It offers a wide range of trading products, such as spot, P2P,  margin, leverage, copy trading, and much more.ContactHead of PR & CommsDion [email protected]

Gate.io Proof-of-Reserves Audit Shows User Asset Reserves Exceed 100%

Majuro, Marshall Islands, 9th November, 2022, ChainwireThe global cryptocurrency exchange Gate.io has proven that it holds 108% of total user BTC assets in its reserves, according to the independent third-party firm Armanino LLP, which released the findings in a report following the completion of a proof-of-reserves assessment. In addition, the report found that 104% of users’ ETH assets are also accounted for, meaning Gate.io’s BTC and ETH reserves exceed the total amount of user assets.A unique approach to proof-of-reservesCrypto exchanges initiate proof-of-reserves attestations to show that users’ asset balances are genuinely held and exist on the exchange. Although proof-of-reserves has been around for years, Gate.io was the first to conduct them with a high degree of transparency and in a user-verifiable and cryptographic manner.Gate.io has patented a method that allows users to securely and privately verify their inclusion in the attestation through a cryptographic Merkle Tree, one of the core components of Bitcoin. Armanino LLP, a leading global accounting, consulting, and technology firm, compiles and publishes Gate.io’s asset balance data in the Merkle Tree.Gate.io takes these extra steps to provide greater security and transparency to its more than 12 million global users. With this method, users can worry less about their assets becoming unavailable in the event of increased withdrawal activity or insolvency.Why involve a third party?Follow us for the latest crypto news!A trusted independent entity is needed to provide confidence and credibility when conducting a proof-of-reserves attestation. In this case, Gate.io enlisted Armanino LLP, one of the top 25 largest independent accounting firms in the United States. Armanino LLP is a member of the American Institute of Certified Public Accountants and the Center for Audit Quality and is licensed by the California Board of Accountancy.Putting security above allCEO and Founder of Gate.io, Dr. Lin Han, said, “Security is our number one priority, specifically the security of users’ cryptocurrency. We remain committed to putting the safety of users first, and one way we accomplish this is through our proof-of-reserves model.”The Gate.io cryptocurrency exchange, which provides trading and blockchain-related services to millions worldwide, operates with a “security first” philosophy. By following up with another proof-of-reserves attestation, Gate.io is showing that it continues to operate safely and transparently, upholding its philosophy.About Gate.ioEstablished in 2013, Gate.io has nearly a decade of safe and secure operations and an outstanding selection of digital assets, currently at 1500+ cryptocurrencies and 2800+ trading pairs. It offers a wide range of trading products, such as spot, P2P,  margin, leverage, copy trading, and much more.ContactHead of PR & CommsDion [email protected]

Bitcoin and Ethereum whales are preparing to buy big stacks of coins – When will the prices rise?

Source: Wit Olszweski – ShutterstockData from Santiments shows that whales are accumulating large amounts of stablecoins which could signal an entry into Bitcoin and Ethereum soon.Whales have been encouraged by the continued support of stablecoins by governments around the world.The crypto market is witnessing a sustained wave of stablecoin accumulation even as the general bear market continues. According to the behavior analysis platform Santiment, whales with already sizable accounts are adding more stablecoins to their portfolios.Santiment reports that USDC and USDT are the preferred stablecoins for these large account holders. According to an image posted on Twitter, USD Coin holders with at least $100k and up to $10m have increased their holdings by 12.1 percent since early August. The image also shows that Tether holders with $100k to $10m have added 8.6 percent more USDT.🐳 #Stablecoin accumulation is being shown by #crypto whales over the past three months, and there is significantly more buying power by large traders compared to the June bottom. $USDT and $USDC being accumulated has historically foreshadowed price rises. https://t.co/MxYGsi7tjY pic.twitter.com/jzh8GIsVNL— Santiment (@santimentfeed) November 8, 2022Santiment did not suggest a reason for the renewed interest in accumulating stablecoins or explain why the whales seem to have more buying power. Regardless, the accumulation may signal more faith in stablecoins over fluctuating assets, especially since the market is currently unstable. The buying spree could also signal more market volatility in the near future.Both stablecoins are the two largest in the market, with Tether’s USDT as the third largest and Circle’s USDC as the fifth. Months ago, USDC seemed more intent on closing the gap as it rose to become the market’s fourth-largest asset by market cap. Since the year began, Circle has been pumping more USDC into the market to meet a general and increasing demand for liquidity.Follow us for the latest crypto news!Stablecoin regulation could augur well for whalesStablecoins may be better poised for favorable policies from the government, a move that could keep whales acquiring more. Recently, Federal Reserve Vice Chair for Supervision of the Board of Governors Michael Barr seemed to support these assets. Speaking at the DC Fintech Week in October, Barr believes there is quite the potential for stablecoins to be used as money. He also specified that he doesn’t share the same sentiments for other assets like Bitcoin.As optimistic as he seemed, the Fed Vice Chair expressed concern over risks associated with stablecoin use. According to him, banks may be unable to properly ensure lawful usage. Barr said:For instance, with some models that are being explored, the bank may not be able to track who is holding its tokenized liability or whether its token is being used in risky or illegal activities.Barr admitted that there might be options for ensuring customers don’t disregard stipulated laws. However, he still worries that enforcing the options might be tricky for legacy banks.While there is work underway on technical solutions for managing these risks, it remains an open question whether banks can engage in such arrangements in a manner consistent with safe and sound banking and in compliance with relevant law.Barr concluded by advising interested banks to begin early consultations with regulators to discuss these options and ensure that they are legally acceptable.

NTT Docomo and Astar Network partner in an effort to accelerate Web3 adoption in Japan

NTT Docomo has confirmed that it will be investing $5 billion in Web3 technologies over the next 5-6 years.Astar Network CEO is confident that Web3 and related technologies are at the cusp of mass adoption.NTT Docomo and Astar Network have confirmed a collaboration with the aim to foster mass adoption of Web3 as well as its social implementation. The entry of NTT Docomo is no small feat with the company boasting of being the largest internet provider in Japan. The company generates around $40 billion in annual revenue. It has now been confirmed that the company intends to invest $5 billion in Web3 technologies over the next 5-6 years. Interestingly, one-third of the stock of NTT Docomo’s parent company, NTT, is owned by the Japanese government.NTT Docomo has signed a deal with Astar Foundation, the organization behind Astar Network. According to the team, the network “supports the building of dApps with EVM and WASM smart contracts and offers developers true interoperability with cross-consensus messaging XCM.” Since winning its Parachain in January 2022, Astar has become the top Parachain in the Polkadot ecosystem. Astar Network is the number one TVL Smart Contract Hub for WASM + EVM on Polkadot.The two will collaborate on three fundamental areas; Sustainable development goals, Elimination of technology gaps and insecurity, and Nurturing Web3 talent.📣 ANNOUNCEMENT 📣1/ Astar and NTT DOCOMO (@docomo) team up and will push Japan to embrace new Web3 solutions!What is NTT DOCOMO?• The largest Japanese internet provider – 37% of the population!• They generate $40B in annual revenue! 🧵👇https://t.co/cn9yGLC4WXFollow us for the latest crypto news!— Astar, the Future of Smart Contract for Multichain (@AstarNetwork) November 8, 2022The two partners note that they strive to create a new social good project that will change the world with Web3 tech in Japan– whose social development is challenged. With NTT providing the know-how and Astar Network the Web3 technology, the project has an advantage in solving social and environmental problems through the powerful DAO structure.The project seeks to dominate the Japanese market by bringing in big enterprises. Furthermore, it will look to expand beyond the Japanese market in the long term. Japan’s interest in the blockchain industry upon which Web3 is built on is no secret. Recently, the Digital Agency launched a decentralized autonomous organization (DAO) to explore DAOs and Web3Speaking on the collaboration, Astar Network CEO Sota Watanabe noted: Web3 and related technologies are about to cross the chasm and are on the verge of mass adoption. In this context, more robust cases with excellent user experience on an infrastructure that is accessible to everyone is essential. It is about making a society where more people can truly enjoy the benefits of Web3, not just engineers. Collaborating with NTT Docomo, a company that has created case studies that have been used by tens of millions of people, we will further spread Web3.

Shiba Inu most traded crypto + many updates – Will it drive SHIB price to $1?

Amidst numerous project development updates, Shiba Inu has turned out to be one of the most traded cryptocurrencies in the market.Though the meme coin is trading 80 percent below its ATH, analysts expect a resurgence that sees it reach $1 in the coming bull run.According to the SHIB-focused Twitter account, Shiba Inu News, the dog-themed crypto is now the most-traded asset on trading an investment app Robinhood. The rise on Robinhood comes after a recent price increase that pushed SHIB into Robinhood’s top 5 gainers list at the end of October.An official Robinhood tweet on October 28 showed that SHIB climbed 18 percent that week, only behind DOGE, ETH, and AVAX, respectively. At the time, whales also seemingly predicted the price pump and began to hodl. According to Whale Alert, a new Whale spent $37.46 million on 3.37 trillion SHIB after an anonymous wallet acquired 3.94 trillion worth $43.18 million.Shiba Inu News also recently announced that SHIB hit a burn rate of up to 200 percent. However, this quickly dropped and is a little over 57 percet as of press time, according to the Shibburn website. The site also states that nearly 26.5 million SHIB were burned yesterday and over 14 million SHIB today as of press time. BREAKING: Burn rate of $SHIB up 200% pic.twitter.com/z6RfJfQec8— Shiba Inu News (@ShibalnuNews) November 7, 2022Follow us for the latest crypto news!SHIB burns are calculated using a total of three addresses, including the Genesis address (Black Hole) which directly reduces supply. The other two are dead wallets without obtainable keys. So far, the network has burned more than 410 trillion SHIB from the initial supply. Token burns help keep Shiba Inu deflationary. Generally, these burn rates vary and may be very high or low. While the hope is that burning will help buoy SHIB price through scarcity, there is no guarantee that prices will always spike in response.Shiba Inu is currently trading at $0.00001097, slightly below the pivotal $0.000012 price point set over the last few months. The token’s daily chart shows a symmetrical triangle pattern that seems ready for a further price increase. However, the Relative Strength Index (RSI) shows that traders might be undecided about hodling or dumping SHIB any time soon. Regardless, any expected breakout is likely to simply follow the market’s trend, at least in the initial stage. If the market is unfavorable, SHIB may be looking at the next support level at $0.0000092.Shiba Inu updatesAs Robinhood sees increased SHIB trading activity, other platforms may tell a different story. According to a recent report, several whales moved nearly 1.5 trillion SHIB, mostly from FTX. This happened before FTX limited all withdrawals to $1,000 per transaction. Shiba Inu developer Shytoshi Kusama has provided a few more Shiba ecosystem news and updates. In a recent post, Kusama announced an official player’s guide and lore for Shiba Eternity, a card-based mobile game he noted has been downloaded over 250,000 times by players across the globe. Kusama also announced an NFT drop featuring many “unique images that breathe life into the narrative.” Prices range from .001E ($1) to 1000E.

McDonald’s beats Ethereum amid Binance vs. FTX fight as ETH price drops below $1,500

Source: Wit Olszewski – ShutterstockMcDonald’s overtakes Ethereum in market cap as ETH price slumps.The trending joke is an announcement for an open job position at McDonald’s for top crypto influencers.In recent market capitalization rankings, the popular American fast-food company Mcdonald’s has outshined Ethereum. A few days ago, Binance announced its plan to sell FTT token, which belongs to another leading cryptocurrency, FTX. The announcement caused many crypto investors to panic, resulting in an outflow of approximately $500 million from FTX. Ever since, the majority of cryptocurrency assets have plunged, including Ethereum. The price of ETH fell below $1500, drowning the market cap below McDonald’s. A user posted a tweet showing McDonald’s surpassing Ethereum on the market cap list. According to the image posted, McDonald’s was 48th by market cap, followed by Ethereum. Binance CEO, Changpeng “CZ” Zhao quoted the tweet saying: “Doubts creep in once in a while, stay strong, stay SAFU.” The SAFU acronym stands for Secure Asset Fund for Users, which is Binance’s emergency insurance fund that protects users’ funds. McDonalds flippened ETH pic.twitter.com/w2ZT5LpE5H— osmo1sunny 🧪 (@sunnya97) November 7, 2022Follow us for the latest crypto news!McDonald’s is well-known for its part in cryptocurrency trading and investment. In the past few months, the cryptocurrency market has been dreadfully bearish. Subsequently, a joke sprouted out advising many crypto investors and trades to fill up roles at McDonald’s. It originated from a recent discovery that the requirements needed to join the fast-food outlet are easily achievable. Interested job seekers can easily get a job at the company with no hassle. Interestingly, McDonald’s joined the trending joke by offering job opportunities to prominent crypto influencers. The multinational fast food chain has a market capitalization of over $200B, while Ethereum has $181.52B after its recent plunge. Currently, McDonald’s ranks 47th by market cap, and Ethereum ranks 59th. However, Ethereum can spike in its price soon, thereby increasing its market capitalization. Due to the low volatility in the stock market, McDonald’s capitalization might not significantly increase.  Can Ethereum reclaim its rankings ahead of McDonald’s?The decline in market capitalization has little or no effect on the world’s second-largest cryptocurrency. Situations surrounding FTX must have affected the current price of Ethereum following the exit of numerous investors. Like FTT token performance, ETH lost more than 3.5 percent of its value. Considering Ethereum’s performance in the past month, ETH is faring well, gaining over 16 percent of its value.  There are speculations that the United States monetary policy is the major reason behind the crypto dump. The policy has refrained many investors from investing in digital assets like cryptocurrencies. Last year, the United State Department of Justice seized 50,676 BTC from James Zhong during a search of his house in Georgia. The seizure ranks second to Bitfinex’s allegedly stolen crypto seizure in 2016. During the Bitfinex hack, about 120000 BTC were stolen. The U.S. authorities announced that they recovered over 94000 BTC from the perpetrators.