A decentralized finance “circuit breaker” could have prevented billions of dollars worth of crypto being stolen from DeFi protocols in 2022, according to the developer of the newly published ERC-7265 proposal. A new Ethereum request for comment (ERC) was published on Github on July 3. In it, the lead developer Diyahir Campos proposed a standard
Month: July 2023
The start of June saw negative price action across the cryptocurrency market after the U.S. Securities and Exchange Commission brought fresh lawsuits against the world’s largest exchanges, Binance and Coinbase. However, the sentiment quickly turned bullish after a crucial exchange-traded fund proposal was filed by the world’s largest asset management firm, BlackRock, on June 16.
BarnBridge DAO members have been told to pause “all work” related to the project after a reported probe by the United States Securities and Exchange Commission (SEC). In a July 6 post to the platform’s Discord channel, Douglas Park, a lawyer for the decentralized autonomous organization revealed the news to members. “I am letting you
A recent report released by the United Kingdom Law Commission could weaken a central argument brought by Craig Wright in his controversial lawsuit against 12 Bitcoin core developers, argues the Bitcoin Legal Defense Fund (BLDF). In a 300-page report on digital assets published in late June, the UK Law Commission — an independent body that reviews and
Abnormally large outflows from the Multichain MPC bridge platform on July 6 have sparked fears that an exploit could be underway. Over $102 million worth of crypto has been withdrawn from Multichain’s Fantom bridge on the Ethereum side, as well as $666,000 from Dogechain and $5 million from Moonriver. Multichain likely hacked. Exit all multichain
Twitter’s executive chairman Elon Musk continues to push for more regulatory oversight of artificial intelligence, claiming it may be “smarter than all humans at everything” in the future. In a video keynote address at a Chinese government-backed AI conference on July 5, Musk reportedly noted that governments should be concerned about deep intelligence, urging regulators
Bitcoin mining companies outperformed BTC price by a huge margin amid the recent bullish price action in the top cryptocurrency. The average year-to-date gains in 2023 across the stocks of top nine public Bitcoin mining firms by market capitalization stood at 257.14%. The figure is almost three times higher than BTC’s gain in the same
A pair of researchers from the University of Tsukuba in Japan recently built an AI-powered cryptocurrency portfolio management system that utilizes on-chain data for training, the first of its kind according to the scientists. Called CryptoRLPM, short for “Cryptocurrency reinforcement learning portfolio manager,” the AI system utilizes a training technique called “reinforcement learning” to implement
XRP, the native token of the XRPL protocol, has decreased its total supply. Over the past 30 days, roughly 247,016 XRP tokens have been permanently burned, reducing the total circulating supply. This trend was first highlighted by an anonymous Twitter account, sparking a wave of speculation within the XRP community. Neil Hartner, a senior staff
Bitcoin (BTC) continued snap volatility after the July 6 Wall Street open as yearly highs gave way to a comedown. BTC/USD 1-hour chart. Source: TradingView Bitcoin suddenly falls to new July lows Data from Cointelegraph Markets Pro and TradingView followed BTC price action as it seesawed around the $30,000 mark. Bitcoin had surged to its
Zero-knowledge proofs (ZK-proofs) are a key technology explored by many in the crypto industry. A zero-knowledge protocol is a cryptographic method that allows one party to prove to another party that something is true without revealing any information. The technology is vital for Ethereum layer-2 solutions to achieve blockchain scalability, and to the privacy and
The Florida Office of Financial Regulation is considering action against United States-based cryptocurrency exchange Bittrex, which filed for Chapter 11 bankruptcy protection in May. In a July 5 filing with the U.S. Bankruptcy Court for the District of Delaware, Florida Office of Financial Regulation (OFR) assistant general counsel Brandon Greenberg said the state regulator had
According to a Reddit post, a developer has posted an unusual farewell note, apologizing and blaming his online gambling woes after leaving a project in shambles, turning a $2 million valuation into $20,000 within minutes. Several investors in the Encryption AI project have reported that its developer performed a rug pull during a liquidity migration event. As
Binance CEO Changpeng Zhao has delivered his prediction for the next Bitcoin (BTC) bull market. Speaking in a July 5, “ask me anything” session on Twitter, CZ explained how the price of Bitcoin has historically moved in four-year bull cycles. https://t.co/OENe6Ul4ag — Binance (@binance) July 5, 2023 While he admitted that he can’t see the
The combined spot and derivatives trading volume on centralized exchanges (CEXs) climbed 14.2% in June to $2.71 trillion, according to CCData’s monthly exchange report. Binance, Binance.US, and Coinbase all saw their market share decline in the past month. As per the report, the first rise in trading volume in three months was backed by BlackRock’s
Foreign residents of Israel could get an exemption from capital gains taxes on the sale of digital currencies. A bill that would grant that and other tax benefits for digital assets holders passed through preliminary reading in the country’s parliament (Knesset) on June 5. The bill would also level up the crypto bonuses with stock
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