The Canadian singer and teen idol – Justin Bieber – made the headlines in January by purchasing an NFT from the BAYC collection for 500 ETH (around $1.3 million at the time). The intensifying bear market and the decreasing interest in digital collectibles, though, have shrunk the USD value of his investment by over 94%....Read More
One of the most successful NBA teams – Golden State Warriors – reportedly paused all marketing endeavors related to the distressed crypto exchange FTX. The latter filed for bankruptcy last week after failing to honor its clients’ withdrawal requests. According to recent coverage, the basketball club stopped advertising all FTX products and services. The last...Read More
Despite the rally during the past couple of weeks, the cryptocurrency took a beating today. Bitcoin’s price plunged by more than 5%, dropping $20K. The total liquidations on a 24-hour scale have reached around $360 million. The recent rally brought hopes to many that the crypto winter might be coming to an end, but this...Read More
One of the largest supermarket chains in South Africa – Pick n Pay – reportedly enabled customers to settle their bills in cryptocurrencies, including bitcoin. The offering covers 39 of the company’s stores located across the country. The National Children’s Advocacy Center also hopped on the bandwagon, allowing people to donate digital assets. The Latest...Read More
Crypto markets have gained more than 9% over the past week, sending total capitalization back over the $1 trillion level again. Some crypto assets have performed better than others, and Ethereum has been making more gains than its big brother over the past seven days. During the rally, which began on Oct. 25, Ethereum gained...Read More
The power tussle between the United States Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) over regulatory oversight of the crypto market continues to confuse investors about which rules to follow. In line with the turf war conflict between the two market watchdogs, CFTC chairman Rostin Behnam has reiterated that Bitcoin...Read More
The Australian financial services company – Finder – conducted two surveys among its high-profile specialists to determine their expectations of bitcoin’s future price. The experts predicted that the leading digital asset will trade at approximately $21,300 by the end of the year. They are quite bullish on the long-term valuation, expecting it to surge to...Read More
Fidelity Digital Assets – the cryptocurrency subsidiary of the finance giant Fidelity Investments – will allow its institutional clients to trade Ether (ETH). The service will be available on the company’s crypto platform from October 28, 2022. Fidelity Expands its Crypto Scope Earlier this month, the company doubled down on its cryptocurrency efforts by introducing...Read More
In an announcement on a RippleX Developers portal on Oct. 17, engineer Mayukha Vadari said that the Ethereum Virtual Machine (EVM) sidechain for XRPL was now live on devnet. The system to bring more Ethereum compatibility to Ripple was initially introduced in September 2021, but it has now finally been launched for wider testing and...Read More
Legendary billionaire hedge fund manager Paul Tudor Jones revealed that he still holds a small portion of bitcoin while stating that the U.S. economy might be going into recession or already is in one. Tudor Jones also said the value of assets such as ETH and BTC could increase amid inflation and excessive fiscal spending....Read More
Nearly half of Ethereum’s block space has been consumed by a new project called XEN Crypto which is causing the network issuance to fall and gas prices to rise. “Users have paid almost $1.8 million in gas fees to interact with the token contract, which has a market cap of $500k,” reported DeFi analyst ‘@0xfoobar’....Read More
Fidelity Investments doubled down on its cryptocurrency efforts after its brokerage arm – Fidelity Brokerage Services LLC – offered an Ethereum Index Fund to clients. The product has raised around $5 million since sales started at the end of September, while outside investors can participate in the initiative with a minimum investment of $50,000. Fidelity’s...Read More
Long before the Ethereum network’s transition to Proof-of-Stake (PoS), censorship concerns have been a bone of contention. To mitigate these risks, Vitalik Buterin has proposed “partial block auctions.” In the latest blog post, the Ethereum co-founder suggested that builders should have a more limited amount of power to prevent ETH censorship post Merge. Instead of...Read More
On Tuesday night, an Ethereum MEV bot gained 800 ETH through the use of clever arbitrage, only to lose all of it and more to a hacker an hour later. Here’s how the situation played out on-chain: The event began with a third-party trader mistakenly losing nearly $2 million to spreads on Uniswap v2 trade....Read More
Controversial crypto entrepreneur Jason Falovitch on Sunday reported that hackers breached his crypto wallet on OpenSea and stole four NFTs and six ETH. The value of the stolen assets is estimated to be in the range of $150,000, media reports said. In a similar incident, earlier this month, famous American actor and comedian Bill Muray became a...Read More
The co-founder of Ethereum suggested that two other PoW blockchain protocols could transition to PoS in the near future. He also spoke about the Merge during the 2022 Mainnet blockchain event and gave a brief update about the next step in Ethereum’s development – the Surge. Ethereum made history on September 15, when it became...Read More
The authorities of Colorado announced that state residents can now pay their taxes in cryptocurrencies instead of fiat. Among the supported digital assets are the two biggest by market capitalization – Bitcoin (BTC) and Ether (ETH). Still, Colorado’s Revenue Department is not allowed to accept direct crypto payments, which is why it partnered with PayPal,...Read More
Following the recent long-awaited update to the Ethereum network – which saw the network move from proof-of-work to proof-of-stake – SEC Chairman Gary Gensler spoke out about the change, hinting that it might be enough to push Ethereum out of its current legislative bracket and into that of securities. Post-Update ETH May Pass the Howey...Read More
Ethereum finally transitioned its underlying consensus model to proof-of-stake (PoS) on September 15th at block 15537393. The historical event, however, failed to shed off the appeal of the new proof-of-work (PoW) version of Ethereum. ETHPoW (ETHW), a hard fork of Ethereum supported by a group of PoW proponents, has unveiled a list of all the...Read More
With the long-awaited Ethereum Merge expected to go live in less than 24 hours, Joseph Lubin, CEO of the blockchain software technology company ConsenSys, has shared his thoughts on it, noting that the transition is the third-most significant event in the crypto industry. According to Lubin in a recent interview with Bloomberg TV, the first...Read More
On September 13, the U.S. Treasury Department published a guide with a series of steps for U.S. citizens to follow in order to withdraw their funds from Tornado Cash. Tornado Cash was a mixing service shut down on August 8 by the U.S. Treasury Department. This happened after investigations showed that the platform was used...Read More
Ethereum’s pending transition from Proof-of-Work (PoW) to Proof-of-Stake (PoS) can trigger new risks for the troubled crypto lender – Hodlnaut. The Singapore-based company was one of several firms in the crypto industry that succumbed to the pressures of the downturn after the collapse of Terra ecosystem tokens. According to a new report, Hodlnaut has warned...Read More
Sam Padilla – a Web3 Customer Engineer at Google – said the world’s largest search engine launched a countdown clock that shows when exactly Ethereum’s Merge will be complete. The second-biggest cryptocurrency protocol is on its way to shifting from Proof-of-Work (PoW) to Proof-of-Stake (PoS), something unseen in the industry so far. The move is...Read More
The cryptocurrency ranking and evaluation platform – CoinGecko – examined global Google trends to determine which nation is the most excited about Ethereum’s upcoming transition from Proof-of-Work consensus mechanism to Proof-of-Stake. Per the results, Singapore ranks first, while Switzerland and Canada share the second position. Third is the largest economy in the European Union –...Read More
Ethereum, the world’s second-largest cryptocurrency, is all set to discard its energy-intensive proof-of-work consensus mechanism sometime next week. While ETH’s price could potentially decouple from other cryptocurrencies post Merge, staking yields is expected to catalyze institutional adoption, Chainalysis said in its latest report. On the other hand, it may be a difficult road for the...Read More
On September 7th, Binance.US announced the launch of an Ethereum Staking service, offering its users an initial annual percentage yield (APY) of 6%. According to the Binance.US blog post, this new feature will allow users to start staking ETH using a minimum of 0.001 ETH (approximately $1.62). An amount much more accessible than the 32...Read More
The Canadian cryptocurrency miner HIVE Blockchain announced its August production figures, saying it mined 290.4 BTC and 3,010 ETH. The company’s equivalent BTC production was 518.8 BTC with an average hashrate of 3.70 Exahash. HIVE Blockchain also acknowledged the potential of Ethereum’s upcoming “Merge,” vowing to start mining various other GPU mineable coins once this...Read More
With the much-anticipated Ethereum Merge only days away, Bobby Ong, co-founder and COO of major cryptocurrency data aggregator CoinGecko, has shared some ways on how ETH holders can best take advantage of the upcoming event. In a tweet thread on Monday (September 5, 2022), Bobby Ong said that one of the best ways for existing...Read More
Seven Seven Six – a US-based venture capital firm founded by Reddit’s creator Alexis Ohanian – will reportedly raise a $177 million fund to invest in the cryptocurrency market. The company plans to allocate the amount directly into digital assets that are currently trading way below their all-time high levels. Earlier this year, Ohanian raised...Read More
The Ethereum Foundation has confirmed that the long-awaited Merge is expected to come sooner than previously expected. “Following years of hard work, Ethereum’s proof-of-stake upgrade is finally here! The successful upgrade of all public testnets is now complete, and The Merge has been scheduled for the Ethereum mainnet.” According to a new blog post, the...Read More
