Smart Contract Automation Helps Dapps Maintain Data Integrity Without Relying on External Databases — Pavel Salas
According to Pavel Salas, the chief growth officer at Gear Foundation, on-chain smart contract automation makes applications “truly decentralized” because it “removes dependencies on centralized servers or external…
Latam Insights: Argentina Announces National Digital Currency While Peso Sinks, Volcano Energy Launches Lava Pool
Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: The Argentine government announces a national digital currency project, Volcano Energy launches Lava Pool…
Gold-Backed Digital Tokens Now an Approved Payment Method Says Zimbabwean Central Bank
Zimbabwean residents and institutions can now pay or settle domestic transactions using the recently launched gold-backed digital tokens, the central bank has said. Bank governor John Mangudya said the central bank has enlisted the services of…
Chatgpt Maker Openai Mulling Own AI Chips, Report Unveils
Openai, the developer of Chatgpt, is considering ways to overcome the shortage of chips needed to power its artificial intelligence (AI) product. One of the options that’s being discussed in the company, according to a recent media report, is to…
Berkshire Vice Chair Charlie Munger Warns Most Crypto Investments Will Go to Zero
Warren Buffett’s right-hand man and the vice chairman of Berkshire Hathaway, Charlie Munger, has expressed his belief that the majority of cryptocurrency investments will become worthless. Regarding bitcoin, the executive opined…
Joe Rogan Says Bitcoin Is the Most Likely Contender for a ‘Universal Viable Currency’
This week, Openai’s CEO, Sam Altman, delved into the nuances of artificial intelligence (AI) on the Joe Rogan Experience podcast. As they conversed, Rogan articulated that the “real fascinating crypto is bitcoin.” He then…
Social On-Chain App Stars Arena Suffers $2.9 Million Hack; Team Secures Funds to ‘Close the Gap’
Stars Arena, an on-chain social app built on the Avalanche blockchain, suffered a $2.9 million hack Saturday, when hackers took advantage of a vulnerability in its smart contract, draining funds. Stars Arena’s team has already announced that…
NFTs Can’t Catch a Break as Protracted Drop in Sales Continues
For the seventh week straight, non-fungible token (NFT) sales have slipped further. In the last week alone, NFT transactions totaled $66.11 million, marking an 11.65% decline from the previous week. NFT Sales Bleed Out: The Unrelenting Seven-Week…
Bitcoin Lingers in a ‘Neutral’ Phase as the Fear and Greed Index Signals Market Consolidation
On Sunday, October 8, 2023, bitcoin’s price teeters just below the $28K threshold, marking a 2.6% rise from the previous week. Presently, the Crypto Fear and Greed Index (CFGI) hovers at a “neutral” 50 out of 100, a stance…
The Rise and Retreat: Bitcoin’s Ordinal Inscription Wave Ebbs
Since September 25, 2023, the trend of Bitcoin-based Ordinal inscriptions has notably waned, hitting its most subdued levels since mid-April. On October 3 and 4, fewer than 17,000 inscriptions made their mark on Bitcoin’s distributed ledger…
Ian Freeman Sentenced for Selling Bitcoin Without License, Judge Swats Down SEC Appeal in Ripple Case, and More — Week in Review
Free Talk Live co-host Ian Freeman has been sentenced to eight years in prison for selling bitcoin without a license, the SEC has taken in a loss in its push for interlocutory appeal against Ripple, and a verified “Satoshi” handled has…
Crypto Cards Still an Option to Spend Digital Cash in Fiat Environment
Rising regulatory pressures may have limited crypto cards on offer but they remain a viable way to pay with coins where only fiat is accepted. With them, you spend crypto and that’s without the need to exchange it beforehand as it often…
Certik Study: $332 Million Lost to Exploits, Hacks and Scams in September, More Than $1.3 Billion Lost in 2023
In the month of September, digital assets worth approximately $332 million were siphoned from trading platforms via methods that include flash loan attacks, exit scams, and exploits. The value of digital assets stolen through exploits rose from…
Russian President Putin Says US Dollar-Based Global Financial System Is Collapsing
Russian President Vladimir Putin has stated that the U.S. dollar-based global financial system is gradually collapsing. “After all, a currency is a derivative of the power of the economy of the country that issues this currency,” Putin…
Robert Kennedy Jr. Promises to End White House War on Bitcoin — Says We Need ‘Freedom Currency’ That Government Can’t Control
U.S. presidential candidate Robert F. Kennedy Jr. (RFK Jr.) has promised to end the White House’s war on bitcoin if he is elected President of the United States. “I’m going to make sure that bitcoin is protected, that people can keep their…
Tesla CEO Elon Musk Predicts ‘Comprehensive Overhaul’ of SEC With 100% Probability
Billionaire Elon Musk has called for a “comprehensive overhaul” of regulatory agencies, which includes the U.S. Securities and Exchange Commission (SEC). The Tesla and Spacex CEO added that there needs to be a commission to take punitive action…
Backed Finance Tokenizes Treasury Bond ETF on Coinbase’s Base Network
Backed Finance, a real-world asset tokenization issuer, announced its successful issuance of the first tokenized security on Coinbase’s Base, a layer two (L2) blockchain. The team introduced bIB01 tokens to the decentralized finance (defi)…
Binance Announces UK Domain Compliant With New Crypto Promotion Rules
Crypto trading giant Binance has launched a new domain for U.K. customers under Britain’s updated regulations for financial promotions. The exchange will offer retail users in the country only those products and services that comply with the latest…
$8B Margin Mystery: Alameda’s Caroline Ellison to Testify Against Bankman-Fried Next Week
After hearing witness accounts in the FTX trial this week, proceedings will resume on Tuesday, October 10, 2023. Caroline Ellison, former CEO of Alameda Research, is reportedly slated to take the stand. Ellison’s testimony could be pivotal…
October Resurgence: Decade-Old Bitcoin Wallets Awaken, Moving Over $50 Million in Vintage BTC
Though Bitcoin’s value has risen from its position last month, September saw a surge in dormant Bitcoin transfers from long-inactive BTC wallets. This trend hasn’t slowed; in the initial week of October, several 2014 wallets came…
Biggest Movers: BCH, TRX Snap Losing Streak to Start the Weekend
Bitcoin cash was one of the big gainers to start the weekend, as the cryptocurrency ended a two-day losing streak. Overall, the momentum in the market was marginally higher, as traders continued to consume the latest U.S. nonfarm payrolls report…
Bitcoin, Ethereum Technical Analysis: BTC Back Above $28,000 Following Comments from Joe Rogan, Sam Altman
Bitcoin traded above $28,000 to start the weekend, after Joe Rogan commented that it had a chance of becoming a “universal viable currency.” Additionally, traders also reacted to yesterday’s U.S. nonfarm payrolls, which rose by…
Bank of Korea and BIS Prepare Wholesale CBDC Pilot
The Bank of Korea and the Bank for International Settlements (BIS) have announced a new pilot that will test the functionality of a Korean wholesale central bank digital currency (CBDC), which will serve as a tool for banks to settle interbank…
Chainalysis Lays Off More Staff in New Round of Crypto Job Cuts
Blockchain forensics firm Chainalysis is shedding a chunk of its workforce, the second time it’s doing so within this year. The news comes in a difficult period for the whole industry which saw a number of such moves in 2023, against the backdrop…
What Is ADA? A Brief History of the Proof-of-Stake Blockchain Network Cardano
On October 6, 2023, the cryptocurrency Cardano, known by its ticker ADA, is ranked as the eighth-largest in market capitalization, valued at just over $9 billion, or 0.817% of the $1.08 trillion cryptocurrency market. As the digital currency…
Report: Hong Kong Crypto Exchange JPEX Converts Users’ Funds to an Illiquid Digital Token
The Hong Kong cryptocurrency exchange JPEX recently converted user funds to a native token known as JPC. According to JPEX, affected users will only be able to cash this token out after two years. One affected user said the crypto exchange did not…
Kraken to Expand Its Presence in Europe With Acquisition of Dutch Crypto Broker
Crypto exchange Kraken has unveiled its plan to acquire Dutch crypto broker Coin Meester B.V. (BCM). Kraken explained that the Netherlands is a key market in its European expansion plans. “We are committed to growing our business in…
Investment Manager Expects SEC to Approve All Bitcoin ETF Applications in 3-6 Months
Steven Schoenfeld, former head of International Equity Product Strategy at Barclays Global Investors (now Blackrock), expects the U.S. Securities and Exchange Commission (SEC) to approve all spot bitcoin exchange-traded fund (ETF) applications in…
Bankman-Fried’s House of Cards? FTX Co-Founder Gary Wang Spills the Beans on Alleged Misuse of Client Funds
On Friday, FTX’s co-founder, Gary Wang, delivered a riveting testimony to federal prosecutors, alleging that CEO Sam Bankman-Fried covertly diverted billions from customer accounts to fuel trades for his hedge fund, Alameda Research. Wang…
American Economist Jeffrey Sachs Heralds End of Dollar Hegemony: ‘Central Bank Digital Currencies Will Become the Basis of Payments’
Jeffrey Sachs, an American economist and best-selling author, has stated that the end of the dollar’s hegemony is near and that central bank digital currencies (CBDCs) will become the basis of cross-border settlements. For Sachs, the abuse of…
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