Author: Lara

South Korean crypto exchanges are preparing to reassess more than 1,000 tokens they previously listed in response to the implementation of the Virtual Asset User Protection Act, aimed at safeguarding crypto investors’ rights and interests. According to a statement from the Digital Asset Exchange Alliance (DAEX) on July 2, starting July 19, approximately 20 domestic crypto exchanges will embark on a six-month review of 1,333 tokens, aligning with recent recommendations from South Korean authorities. The alliance highlighted that major domestic exchanges have already integrated crucial monitoring criteria, which should mitigate the likelihood of widespread delistings. “While some assets have been…

German Bitcoin miner and cloud computing firm Northern Data AG is reportedly planning an initial public offering (IPO) for two of its U.S. entities, with a valuation potentially reaching up to $16 billion. According to a July 1 report from Bloomberg, executives at Northern Data — Europe’s largest Bitcoin miner by market cap — have consulted several advisers about an IPO, targeting a potential listing in the first half of 2025. The current plan involves listing the “Taiga” and “Ardent” entities on the Nasdaq, representing its cloud computing and data center divisions, respectively. Additionally, Northern Data’s Bitcoin (BTC) mining business,…

Cryptocurrencies are increasingly being exploited for money laundering, leveraging their anonymity and decentralized nature to facilitate criminal activities, which undermines the integrity of the entire system. According to Chainalysis’ 2024 Crypto Crime Report, over $24 billion was laundered through crypto last year. The lack of stringent regulations and the rapid evolution of laundering techniques exacerbate this issue. Furthermore, even everyday users can inadvertently become involved in these schemes by interacting with tainted crypto assets, risking severe legal and financial consequences. Major centralized exchanges frequently blacklist addresses associated with tainted assets, potentially restricting users’ ability to transact. To address these challenges,…

Blockchain security firm CertiK has migrated its cloud infrastructure in Asia to Alibaba Cloud, the cloud computing arm of the Chinese e-commerce giant Alibaba. As part of this agreement, CertiK will host its suite of 12 blockchain applications on Alibaba Cloud, leveraging its cloud resources to deliver Web3 services. By hosting its services on Alibaba’s centralized cloud infrastructure, CertiK aims to offer blockchain developers a secure environment for developing and deploying Web3 applications. Ronghui Gu, co-founder of CertiK, stated: “For over five years, we have believed in the transformative power of blockchain technology. We look forward to empowering developers with…

Iggy Azalea’s Mother Iggy (MOTHER) meme coin has overtaken Andrew Tate’s Daddy Tate (DADDY) coin in market capitalization. This week, MOTHER surged over 35% in value, while DADDY plummeted 20% amid market fluctuations. The rivalry between the two meme coins intensifies, with only a thin gap separating their market capitalizations. Andrew Tate’s DADDY meme coin nears 50,000 holders. According to DEX Screener, DADDY’s market cap is currently $69.7 million, while MOTHER holds a slight lead at $75.7 million. Despite fierce competition, MOTHER has shown remarkable resilience and recovery, contrasting sharply with DADDY’s recent downturn. Initially, DADDY surged past MOTHER in…

The official X account for the heavy metal band Metallica was hacked, with the perpetrators using the breach to promote a Solana token with the ticker METAL. Metallica’s team has since regained control of the account and deleted all posts referencing the token. The hacked account initially posted about the token on June 26, falsely claiming it was made in partnership with Ticketmaster. In reality, the token was launched on the Solana-based platform pump.fun. Ticketmaster did not announce any such partnership and did not immediately respond to requests for comment. Posts from Metallica’s account also claimed that fintech firm MoonPay…

Artificial intelligence-related crypto tokens surged over the past week, despite Nvidia losing $430 billion in market capitalization. Nvidia, a key player for crypto traders monitoring the AI market, produces computer chips essential for running AI models. Over the past five trading days, Nvidia’s stock price dropped 11.08%, according to Google Finance data. In contrast, Fetch.AI (FET) and SingularityNET (AGIX) rose 23.46% and 20.83% respectively over the past seven days, according to CoinMarketCap data, bucking the trend of the broader crypto market’s decline. Meanwhile, Bitcoin (BTC) and Ether (ETH), the two largest cryptocurrencies by market cap, fell 9.17% and 4.23% respectively…

Tokyo-based investment and consulting firm Metaplanet Inc. announced plans to issue 1 billion yen ($6.26 million) worth of bonds to raise funds for purchasing Bitcoin. The company stated in a notice on Monday, June 24, that its board approved the move, specifying that the Bitcoin, currently trading at $62,306, would be held for the long term. A separate notice indicated that the bonds would offer an annual interest rate of 0.5%. Metaplanet’s shares surged 11.5% on Monday, reaching 96 yen ($0.60), continuing an impressive year-to-date increase of over 500%, according to Google Finance. Meanwhile, Bitcoin has reached a 40-day low,…

On Wednesday, Injective announced a strategic partnership with DEGA, a leading game builder platform that operates on Ethereum, Cardano, and BNB Chain. Injective, known for its platform that supports decentralized applications (dApps) across decentralized exchanges (DEXs), prediction markets, and lending protocols, plans to utilize DEGA’s ecosystem to propel its development into the Web3 gaming sector. By partnering with DEGA, game developers will be able to efficiently design and launch games, marking a new era for GameFi, according to Injective. The Web3 gaming market is experiencing rapid growth, with forecasts predicting an increase from $23.9 billion in 2023 to over $133…

Ethereum’s native token, Ether (ETH), has surged approximately 4.5% in the last 24 hours, reaching $3,550 on June 19. The catalyst behind this bullish movement is the U.S. Securities and Exchange Commission (SEC), which has announced the conclusion of its investigation into Ethereum. SEC Ends Ethereum Probe, Boosting ETH PriceThe recent uptick in Ether’s price is attributed to the SEC’s decision to close its investigation into Ethereum, removing uncertainty around ETH’s classification as a security. According to ConsenSys, the SEC’s Enforcement Division notified them of the investigation’s closure, marking a significant victory for Ethereum’s developers, technology providers, and the broader…

On June 18, according to NFT data tracker CryptoSlam, the Bitcoin network advanced in the all-time nonfungible token (NFT) sales rankings, surpassing the Ronin blockchain. Bitcoin-based NFTs achieved a total sales volume of $4,271,928,280, exceeding Ronin’s record of $4,271,675,550. This positions Bitcoin among the top three blockchain networks for NFT sales, following Solana and Ethereum. In the past 30 days, Bitcoin-based NFTs achieved a sales volume of $148 million, securing the second position behind Ethereum, which recorded $157 million. Solana closely followed with approximately $77 million in sales. However, despite these substantial sales figures, NFTs across the top three chains…

Venezuelan crypto activists claim that the government and President Maduro’s regime have been exploring various methods to circumvent US-imposed sanctions. “In regimes facing sanctions, there’s typically a range of strategies used to evade them,” noted Andrew Fierman, head of national security intelligence at Chainalysis, in an interview with Bloomberg. “The Venezuelan government and Maduro’s regime have employed numerous tactics over the years.” The United States recently reinstated sanctions on Venezuela, including bans on oil and gold trade, effective May 31. This decision was made due to the Venezuelan government’s perceived failure to uphold democratic principles ahead of upcoming elections in…

Dubai, UAE, 14th June 2024, Chainwire

Elon Musk has issued a stark warning to Apple, threatening to ban its devices from his companies if the tech giant integrates OpenAI’s ChatGPT into its iPhone, iPad, and Mac operating systems. Musk labeled such integration as an “unacceptable security violation” and even proposed extreme measures such as storing visitors’ Apple devices in Faraday cages at Tesla, SpaceX, and other enterprises under his helm. The controversy stemmed from Apple’s unveiling of “Apple Intelligence” during its 2024 Worldwide Developers Conference. This suite of new generative artificial intelligence (AI) features, set to roll out to iOS 18, iPadOS 18, and macOS Sequoia,…

Crypto mining regulation has become a focal point at the St. Petersburg International Economic Forum (SPIEF), where government officials are also discussing the cross-border potential of Russia’s Central Bank Digital Currency (CBDC). According to RBC, the forum included a session on June 6 dedicated to “crypto mining and the use of cryptocurrencies in international payments.” Rapid Growth of Russia’s Crypto Mining Sector Industry leaders noted the fast growth of Russia’s crypto mining sector, predominantly driven by Bitcoin (BTC) mining, with some miners also focusing on tokens like Litecoin (LTC). SPIEF: Government and Industry Leaders Discuss Crypto Regulation Key figures in…

Unchained, a Bitcoin financial services firm based in Austin, Texas, has teamed up with the University of Austin (UATX) to create a pioneering long-term endowment fund. The initiative aims to raise $5 million, which will be invested in Bitcoin for at least five years, according to Unchained’s announcement. As the first-ever long-term endowment fund held in Bitcoin, this collaboration seeks to integrate cryptocurrency into higher education and explore alternative financial strategies. “By incorporating Bitcoin into its endowment, UATX is setting a precedent for other academic institutions to explore alternative and potentially more resilient financial models,” the announcement states. Unchained CEO…

The crypto realm is a bustling marketplace filled with exciting opportunities. But for many, it feels like stepping into a maze – confusing, overwhelming, and sometimes even a bit scary. Despite its colossal market cap, the market hides dangers. Scams, bad actors, and the fear of losing your funds are just some of the dangers that await even the most cautious users. And finding the right info? It’s like looking for a needle in a haystack. The most frustrating part? Fees. Ever tried to swap or bridge your tokens, only to be bombarded with constant fluctuating rates? We Get It. …

Cryptocurrency exchange Kraken reassured users it has no plans to delist Tether’s USDT stablecoin in Europe, committing to continue meeting all legal requirements. In an announcement on social media, Kraken’s global head of asset growth and management, Mark Greenberg, addressed recent reports suggesting the exchange was “actively reviewing” and potentially planning to delist USDT from the European market. Greenberg emphasized that European clients value access to USDT and that the firm is exploring all options to offer USDT under the upcoming regulatory regime. The European Union’s Markets in Crypto Assets regulation (MiCA), set to take effect later this year, will…

The Commodity Futures Trading Commission (CFTC) has issued a stern warning regarding the proliferation of “money mule” scams aimed at remote job seekers. In a recent announcement, the regulatory body cautioned individuals seeking work-from-home opportunities to remain vigilant against these fraudulent schemes. Melanie Devoe, Director at the Office of Customer Education and Outreach (OCEO), highlighted the heightened risk faced by summer job seekers attracted to part-time online employment. She emphasized that many unwittingly become involved in criminal activities, potentially facing legal repercussions such as imprisonment. The modus operandi of criminal syndicates involves recruiting networks of individuals to facilitate money laundering…

Nigeria has strongly refuted Binance Holdings’ accusations of bribery, labeling them as a diversionary tactic aimed at deflecting attention from the exchange’s conduct. The rebuttal came in response to Binance CEO Richard Teng’s recent blog post, in which he alleged that a Nigerian government official had pressured crypto representatives to agree to a secret deal. This deal purportedly aimed to settle ongoing claims that the Nigerian government has against Binance. Rabiu Ibrahim, a spokesman for the Ministry of Information, dismissed Teng’s claims of bribery, stating that they lacked any credibility. He characterized them as a “diversionary tactic and an attempted…

The Ministry of the Interior and Safety in South Korea recently announced amendments to the Enforcement Decree of the Act on Collection and Use of Donations. Despite plans to broaden the scope of acceptable contributions, including loyalty points and various vouchers, cryptocurrency, including Bitcoin, will not be accepted. The decision to exclude crypto donations was unexpected, especially considering the popularity of digital assets in the country. Although no specific reasons were provided for this exclusion, it poses a challenge for both crypto enthusiasts and South Korean charities. Charities in South Korea have previously attempted to leverage cryptocurrencies for donation drives,…

GFAL, short for “Games for a Living,” a web3 video game startup, has successfully raised $3.2 million in a seed funding round. This round was led by Supercell Ltd, a Finnish mobile game development company, and Mitch Lasky, a general partner at Benchmark, a Silicon Valley venture capital firm. The newly acquired funding will be allocated towards expanding GFAL’s core team and accelerating its production plans. This investment comes on the heels of the $4.4 million raised through token pre-sales in 2023 via GFAL’s token offering. The GFAL team comprises individuals with extensive experience from companies like King Entertainment, Activision…

Fintech titan Stripe has announced its return to facilitating cryptocurrency payments after a hiatus of six years. The company’s reentry begins with the acceptance of USDC stablecoins across the Solana, Ethereum, and Polygon blockchains, as reported by TechCrunch. The news came from John Collison, the co-founder and president of Stripe, during the Connect developer conference in San Francisco. Collison underscored the enhanced stability and user experience associated with stablecoins, stating, “Stripe is bringing back crypto payments—this time with stablecoins, which are a way better experience.” This move is part of Stripe’s broader strategy to expand its service offerings and foster…

Introduction In the realm of digital currencies, the concept of mining plays a pivotal role. In the past, mining required substantial investments in hardware, space, and electricity. However, with the advent of cloud mining services such as ARKMining, the landscape has undergone a revolutionary shift. The purpose of this article is to provide a comprehensive understanding of the various benefits of ARKMining’s cloud mining platform, as well as how individuals can use it for their own financial gain. Understanding Cloud Mining The fundamentals of cloud mining must be understood before we can dive into the specifics of ARKMining. Cloud mining operates through…

Following the momentous fourth Bitcoin halving on April 20, Bitcoin transaction fees underwent a remarkable shift, plummeting from an all-time high average of $128 to a more manageable range of $8-10 for medium-priority transactions by April 21, according to data from mempool.space. On the preceding day, the Bitcoin network witnessed an unprecedented surge in total fees, totaling $78.3 million, surpassing Ethereum fees by more than 24 times, as reported by Crypto Fees. A notable highlight of the halving was the inclusion of a record fee in block 840,000, where Bitcoin miner ViaBTC received a staggering 37.7 Bitcoin (equivalent to $2.4…

Two undisclosed sources familiar with the situation have revealed that Binance has agreed to pay a $2 million penalty to Indian regulators for non-compliance, although they did not provide details on how the fine was calculated. India, identified as one of the fastest-growing crypto economies by a Chainalysis report in 2023, boasts the highest adoption rate. Binance’s return to the market will make it the second foreign cryptocurrency exchange to comply with the Financial Intelligence Unit (FIU) regulations, following KuCoin. Before its ban in January, Binance reportedly dominated over 90% of the crypto trading volume in India. The surge in…

In Q1 of 2024, the South Korean won emerged as the world’s most traded fiat currency against cryptocurrencies, surpassing the US dollar in trading volume. According to a report by Kaiko on April 15, the won accounted for over $456 billion in trading volume on centralized crypto exchanges, outpacing the $455 billion in US dollar volume. This surge in dominance is attributed to the “fee war” between Korean crypto exchanges, which has intensified competition and boosted trade volume. The report highlights the improving macroeconomic environment and fierce competition among Korean exchanges as key factors driving the increased trade volume. In…

Bhutan, in partnership with Bitdeer, is poised to significantly expand its Bitcoin mining capacity in response to concerns surrounding the upcoming halving event. The nation’s investment arm, Druk Holding & Investments (DHI), is collaborating with Nasdaq-listed mining conglomerate Bitdeer to enhance mining production and counteract the potential revenue impact of the fourth halving. According to a report by Bloomberg, Bhutan is considering a substantial increase in mining capacity, aiming for a 600% expansion by leveraging state-of-the-art hardware and abundant hydroelectric power resources. Bitdeer’s chief business officer, Matt Linghui Kong, revealed in an interview with Bloomberg that these planned upgrades could…

Paradigm, a prominent figure in the crypto venture capital scene, is setting its sights on a substantial fundraising target for its latest investment fund. According to sources familiar with the matter cited in a recent Bloomberg report, Paradigm is aiming to raise between $750 million to $850 million for its latest fund. If finalized at $750 million, this fund would mark the industry’s most significant fundraising effort since 2022, following Andreessen Horowitz’s $4.5 billion crypto fund established in May. Co-founded by Fred Ehrsam, a co-founder of Coinbase, and Matt Huang, formerly of Sequoia Capital, Paradigm is recognized as a “research-driven…

Palo Alto, California, March 20th, 2024, ChainwirePilotfish, a prototype Sui extension, was able to grow smart contract execution throughput in direct proportion to the number of machines used.Mysten Labs, a team of leading distributed systems, programming languages, and cryptography experts and originators of the Sui Network, today announced a landmark achievement in scaling blockchain capacity. During testing and development in a Sui blockchain environment, Pilotfish, a prototype Sui extension, increased throughput by 8x when backed by 8 machines, successfully illustrating the possibility of linear scaling. Notably, the latency per transaction decreased as more machines were added during the test, proving…