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Yuga Labs responds to CryptoPunks rumors, MakersPlace shuts down

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Yuga Labs, the parent company of the iconic CryptoPunks NFT collection, has dismissed swirling rumors regarding changes to its flagship project. In a statement on January 23, Yuga Labs reaffirmed its commitment to the CryptoPunks brand, calling recent speculation “baseless.” The company assured collectors and enthusiasts that no major shifts are planned for the historic NFT series, which has long been considered a cornerstone of the digital collectibles space.

The rumors surfaced amid broader turbulence in the NFT market, amplified by the abrupt closure of MakersPlace, a prominent NFT platform. MakersPlace announced its shutdown earlier this week, citing challenging market conditions and a need to reassess its operational strategy. The platform had played a significant role in onboarding digital artists and collectors to the NFT ecosystem, making its departure a notable setback for the industry.

Yuga Labs’ reassurance comes at a time when the NFT sector is undergoing a consolidation phase, marked by reduced trading volumes and increasing scrutiny from regulators. While the company continues to expand its portfolio, including ventures like the Bored Ape Yacht Club, the CryptoPunks collection remains a symbol of the early NFT movement. Yuga Labs’ spokesperson stated that the collection’s legacy and integrity are top priorities as the firm navigates the evolving digital asset landscape.

Meanwhile, industry insiders have noted a growing focus on community-driven initiatives and long-term utility for NFTs, signaling a shift in market dynamics. The shutdown of MakersPlace serves as a reminder of the challenges facing NFT platforms, even as leading players like Yuga Labs work to maintain confidence in their projects. As speculation cools, the NFT space appears to be bracing for a period of recalibration, with a focus on sustainable growth and innovation.

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Bitcoin price risks drop to $71K as Trump tariffs hurt US business outlook

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Bitcoin is setting its sights on the $71,000 mark as market conditions shift in response to geopolitical and economic developments, including a new tariff agreement and weakening U.S. business sentiment.

Recent market activity suggests that Bitcoin is benefiting from concerns over traditional economic indicators, with investors turning to digital assets as a hedge against economic uncertainty. A rare slump in U.S. business outlook has fueled speculation that risk assets, including Bitcoin, could see increased inflows.

Additionally, ongoing global trade negotiations and tariff adjustments have contributed to market volatility, prompting investors to seek alternative stores of value. Analysts suggest that if macroeconomic pressures persist, Bitcoin could continue its upward trajectory, potentially testing the $71,000 resistance level.

Despite short-term fluctuations, Bitcoin remains a focal point for investors navigating inflation concerns, regulatory shifts, and global economic trends. The coming weeks will be critical in determining whether Bitcoin can sustain its momentum and break through key price barriers.

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Crypto donations top $1B in 2024, gain traction after Myanmar, Thailand quake

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Changpeng “CZ” Zhao, the former CEO of Binance, has donated 1,000 BNB to aid relief efforts following a powerful earthquake that struck the Thailand-Myanmar border region. The donation, valued at approximately $600,000, aims to support those affected by the disaster and assist in recovery operations.

The earthquake caused significant damage in several areas, displacing residents and impacting local infrastructure. CZ’s contribution highlights the growing role of cryptocurrency in humanitarian aid, providing fast and transparent relief funding.

The donation will be distributed to organizations working on the ground to deliver emergency assistance, including shelter, food, and medical supplies. Crypto-based aid is increasingly being utilized in disaster response efforts due to its efficiency in reaching affected communities without the delays of traditional banking systems.

As the affected regions begin the recovery process, the crypto community continues to demonstrate how blockchain technology can play a meaningful role in global humanitarian initiatives.

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Hackers are selling counterfeit phones with crypto-stealing malware

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Security researchers have uncovered a wave of counterfeit Android devices preloaded with malware designed to steal cryptocurrency, posing a significant threat to users worldwide. The infected devices, which mimic popular smartphone brands, contain malicious software capable of hijacking digital wallets and siphoning funds.

The malware, embedded at the firmware level, allows attackers to gain remote access, intercept sensitive data, and execute unauthorized transactions. Because the malicious code is deeply integrated into the device’s operating system, it is difficult to detect and remove, making it a persistent threat.

Cybersecurity experts warn that unsuspecting buyers may unknowingly expose their crypto holdings to risk by purchasing these compromised devices from unverified sellers. Users are urged to exercise caution by only purchasing smartphones from trusted retailers and manufacturers.

The discovery highlights the growing sophistication of cybercriminals targeting the cryptocurrency sector. As mobile-based crypto transactions become more common, security measures such as hardware wallet usage and multi-factor authentication are increasingly essential to safeguard digital assets from emerging threats.

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