Bitcoin (BTC) miners have been up against the ropes over the past year, with record amounts of BTC sent to centralized exchanges to cover costs in 2023. As Cointelegraph previously reported, the Bitcoin mining ecosystem has had an eventful year. The industry scored a staggering $184 million from transaction fees in the second quarter of 2023,
Month: July 2023
The latest version of Web3 social layer Lens Protocol has been released, introducing improved functionality to support new use cases and shared monetization for its growing Web3 user base. Decentralized Finance (DeFi) firm Aave Companies announced Lens Protocol v2 on July 17 during EthCC in Paris, with the code powering the protocol reworked to enable
Bankrupted crypto lender Celsius Network reached two settlements that allows it to return assets to customers and end its bankruptcy proceedings, according to court filings on July 20. The settlements will be analyzed by Judge Martin Glenn at a hearing on August 10 and address $78.2 billion in unsecured claims. Any responses and objections should
Gary Gensler, Chairman of the U.S. Securities and Exchange Commission (SEC), addressed the XRP case and the recent verdict. A U.S. court ruled that the token is not a security, granting a win for payment company Ripple. Related Reading: Ripple CEO Garlinghouse Takes On SEC, Calls Them A ‘Bully’ In Wake Of XRP Ruling The
A British court granted an appeal on July 20 that gave Craig Wright the right to argue in litigation that the Bitcoin file format is well-defined enough to qualify for copyright protection. Wright, who since 2016 has claimed to be the inventor of Bitcoin (BTC), launched a lawsuit against 13 Bitcoin Core developers and a
Conic Finance, a liquidity pool balancing platform for the decentralized finance (DeFi) protocol Curve, has suffered an exploit on the Ethereum omnipool. Conic Finance has been exploited for $3.26 million in Ether (ETH), the Web3 risk-alert source Beosin Alert reported on July 21. Nearly the entire amount of stolen cryptocurrency was sent to a new
An executive from venture capital firm Andreessen Horowitz (a16z) believes that Web3 has the solutions to the headaches and problems found on Web2-based social media platforms. During a keynote speech at the Ethereum Community Conference (EthCC), a16z partner Sriram Krishnan shared a presentation explaining how Web3 can fix social media and consumer applications. Krishnan stressed
The U.S. Securities and Exchange Commission has suggested that it may appeal a recent ruling on the Ripple Labs lawsuit, which deemed XRP to not be a security when sold to retail investors. The SEC argues that the ruling goes against “fundamental securities laws principles” such as the Howey Test, which determines what falls under
XRP (XRP) price booked an incredible 100% gain on the same day as the landmark ruling in the XRP securities case, but buyers are now struggling to hold on to these gains. The price surge came after judge Analisa Torres of District Court of the Southern District of New York ordered that XRP sale to
The crackdown on crypto firms by the United States Securities and Exchange Commission (SEC) appears to have severely affected Binance’s business. During the past few weeks, the crypto exchange reportedly fired over 1,000 employees and slashed some benefits. According to Binance, the “current market environment and regulatory climate” have caused a decline in profits, suggesting
Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week. The past week in DeFi saw new advancements in zero-knowledge proofs (ZK-proofs) as a scaling solution as more DeFi protocols embraced the technology. A new United States
Gabriel Bankman-Fried, the brother of former FTX CEO Sam Bankman-Fried, had a plan to survive a global catastrophe using funds from the now-defunct cryptocurrency exchange. According to a July 20 filing with the United States Bankruptcy Court for the District of Delaware, Gabriel planned to purchase the island nation of Nauru in the Pacific using
Bitcoin continues to test investors’ patience, as it remains stuck inside a tight range. Although the near term is boring, traders need to be on their toes because narrow ranges are generally followed by a sharp increase in volatility. The only problem is that it is difficult to predict the direction of the breakout with certainty.
With less than two weeks until Litecoin’s halving, when the miner’s block subsidy will be cut in half, traders are questioning whether the additional scarcity effect will be enough to sustain the LTC price above $90. Litecoin’s (LTC) price has declined by 19% in the last 18 days, but it has shown a positive 31%
Bitcoin (BTC) stands to win big thanks to the BlackRock exchange-traded fund (ETF), investor and analyst Charles Edwards believes. In his latest interview with Cointelegraph, Edwards, who is founder of quantitative Bitcoin and digital asset fund Capriole Investments, goes deep into the current state of BTC price action. With his previous bullish statements continuing to stand
As the tides of the crypto world surge with the force of emerging technologies and continuous innovation, the navigation toward regulatory clarity within the United States has always been a challenging venture. And recent events in the crypto market seem to have set the groundwork for what could be the path to clarity. Ripple’s recent
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