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Safemoon Files for Chapter 7 Bankruptcy Protection Amid Securities and Wire Fraud Charges
17.12.2023
In the latest development, Safemoon, a crypto company, voluntarily initiated Chapter 7 bankruptcy proceedings in the District of Utah, as stated in their bankruptcy documentation. This action comes on the heels of the company’s founders facing indictment for securities fraud, wire fraud,...
Crypto App Shakepay Reveals Data Breach Affecting a ‘Small Number’ of Customers
16.12.2023
In a recent announcement, Shakepay, the Canadian crypto app, disclosed a data breach involving unauthorized access to personal information of a select group of its customers. The breach, detected on Dec. 13, 2023, compromised data but did not affect any bank accounts, crypto wallets, or customer...
Bitcoin Transaction Fees Soar to $40, Sparking Debate and Push for L2 Solutions Amid Mempool Backlog
16.12.2023
On Saturday, Dec. 16, 2023, Bitcoin’s transaction fees spike to a high of $40 per transaction at 1:48 p.m. Eastern Time. The jump in onchain fees surpassed the high reached on May 8, 2023, when the average transfer cost topped $31 per transfer. Skyrocketing Bitcoin Fees Surpass $40 Bitcoin...
Echoes of 2013: Bitcoin Mining Concentration Reaches Decade-High Levels
16.12.2023
In the past 72 hours, Antpool has dominated 26.48% of Bitcoin’s overall hashrate, closely followed by Foundry USA at 24.95%. Together, these two mining pools wield 51.43% of the prevailing 502 exahash per second (EH/s) total hashrate. This level of concentration in bitcoin mining pools...
NFT Sales Soar to Over $500M; Bitcoin Leads With Unprecedented Growth
16.12.2023
Sales of non-fungible tokens (NFTs) have surged by 52.81% over the past week, reaching a total of $503.35 million. Bitcoin has emerged as the frontrunner in this week’s NFT market, generating $276.79 million in sales, surpassing Ethereum’s $99.67 million, which previously held the...
Frontend Rewind 2023 – Day 16
16.12.2023
Discover more frontend flashbacks as we open the 16th door in "Frontend Rewind 2023"!
Bitcoin Difficulty Set for Upturn Amid Escalating Hashrate and Soaring Miner Fees
16.12.2023
After the last adjustment that resulted in a slight 0.96% reduction, the upcoming difficulty retarget on Dec. 23, 2023 is anticipated to bring about an increase, eclipsing the previous decline, as the hashrate regains its upward trajectory. The seven-day average hashrate reached a low of...
Lesotho’s Entire Payment System Reportedly Goes Offline After Cyberattack
16.12.2023
The Central Bank of Lesotho recently confirmed that its payment system was attacked by unknown cybercriminals. The bank also acknowledged that the resulting downtime is making it “impossible for all local banks to honor inter-bank transactions in the country.” No Financial Loss Suffered...
Circle CEO Says Investors Should Have Exposure to Bitcoin in Complex Geopolitical Environment
16.12.2023
Circle CEO Jeremy Allaire says in a complex geopolitical environment, bitcoin is an asset that investors should have some exposure to. He emphasized that “digital commodities are here to stay,” noting that bitcoin is the largest digital commodity asset. The executive also believes...
Bank Of China Completes First Cross-Border Digital Yuan Commodities Trade
16.12.2023
The Bank of China Hong Kong, the second largest bank in the region, has completed its first cross-border digital yuan-based trade. The transaction, finalized with its sibling bank, the Bank of China, served to receive the payment for an imported iron ore commodity bulk trade, establishing...
Australian Bitcoin Miner Iris Energy Set to Acquire 8,380 New-Generation T21 Miners
16.12.2023
Bitcoin mining company Iris Energy Limited said on Dec. 15 that it expects to take delivery of 8,380 new-generation T21 miners from Bitmain. Delivery of the mining machines is expected to help Iris Energy fulfill its goal of increasing its self-mining capacity to 10 EH/s (exahash per second)....
Government of Russia Eyes Commodity-Like Crypto Exports
16.12.2023
The government of Russia might allow crypto miners to sell their cryptocurrency like other exports such as gas. Ivan Chebeskov, deputy minister of finance, specified that this option was part of a bill to legalize cryptocurrency mining introduced in 2022, that could allow miners to proceed with...
IMF Chief Calls for Clear Crypto Regulation — Warns High Crypto Adoption Could Undermine Financial Stability
16.12.2023
The head of the International Monetary Fund (IMF) has called for clear crypto regulations worldwide, cautioning that high crypto adoption could undermine macro-financial stability. “Our goal is to make a more efficient, interoperable, and accessible financial system by providing rules...
Finance Professor Blasts SEC’s Potential Cash-Only Rule for Spot Bitcoin ETFs Citing Benefits of In-Kind Model
16.12.2023
A finance professor at Georgetown University has urged the U.S. Securities and Exchange Commission (SEC) to avoid micromanaging the creation/redemption process for spot bitcoin exchange-traded funds (ETFs). While the SEC proposed the cash creation method, applicants like Blackrock and Fidelity have...
SEC Chair Gensler Reveals Regulator Is ‘Taking a New Look’ at Spot Bitcoin ETF Filings
16.12.2023
U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler has revealed that the regulator is taking a new look at spot bitcoin exchange-traded fund (ETF) applications based on recent court rulings. “We had in the past denied a number of these applications, but the courts here in...
Crypto Crimes Highlighted in IRS Criminal Investigation’s 2023 Top 10 Criminal Cases
16.12.2023
In the IRS’s list of top 10 criminal cases for 2023, cryptocurrency frauds are featured, ranging from multi-million dollar tax evasions to elaborate money laundering schemes. Crypto Scams Among Most Significant Financial Crimes in IRS Criminal Investigation’s 2023 Report The...
Bitcoin Miner Hive Diversifies Into AI, Acquires 96 Nvidia GPUs to Boost High-Performance Computing Operations
15.12.2023
On Friday, Hive Digital, based in Vancouver and specializing in bitcoin mining and high-performance computing (HPC), announced its foray into artificial intelligence (AI) and HPC technologies. This strategic move involves acquiring 96 Nvidia H100 graphics processing units (GPUs). From Bitcoin...
TVL on Real-World Assets Spikes Up 700% as Stablecoin and CBDC Popularity Grows in 2023
15.12.2023
Source: Adobe / Luisa Total value locked on real-world assets recorded a 700% surge year-to-date (YTD) alongside overall decentralized finance (DeFi) figures in 2023 as the market’s bullish sentiment continues. A recent market report by CCData shows overall strength in the market after several...
Trader Turns $16k into $10,000,000 After Bonk Price Skyrockets Higher – Here’s the Other Coin He’s Watching
15.12.2023
BONK! Listed on Binance A trader has turned $16,000 into more than $10,800,000 by betting on the recent BONK! ($BONK) price rally. you know we had to double it god willing @unipcsbot https://t.co/Jjp29Qm5oM pic.twitter.com/oD4XthiwF9 — The Lab (@LawliettesLab) December 15, 2023 As per a tweet...
Polygon Stops Work on 'Edge,' Used to Build Dogechain, as Focus Turns to ZK
15.12.2023
Polygon Labs, a developer of scaling networks for Ethereum, has shifted toward "Polygon CDK," a blockchain-development kit powered by zero-knowledge cryptography. The older "Polygon Edge" was used by Dogechain, in an unofficial effort to build a Dogecoin-oriented smart-contracts network