Browsing:ETH

Solana Co-Founder Weighs in on Ethereum's Risks, Emphasizes Simplicity in Blockchain Language
4 months ago 1 min read

Solana Co-Founder Talks About Ethereum’s Risks, Emphasizes Simplicity in Blockchain Language

Anatoly Yakovenko, co-founder of Solana, recently discussed Ethereum’s challenges and shed light on Solana’s design principles. Here is a breakdown of Yakovenko’s key insights. Yakovenko expressed concern about Ethereum’s potential centralization issues. He emphasized the danger of specific parts of the network becoming overly dominant, posing a challenge to Ethereum’s decentralized goals. Yakovenko, on the other hand, emphasized an important aspect of Solana’s architecture: atomic composability. This feature allows for seamless collaboration among blockchain elements. While Yakovenko sees this as a strength, he admits that its value is dependent on recognition within the larger blockchain community. He claims that Solana’s

Any US resident making crypto transactions exceeding $10K will soon have to report them to IRS
4 months ago 1 min read

Any US resident making crypto transactions exceeding $10,000 will soon have to report them to IRS

A recent development in the crypto landscape is causing a stir among users and advocates alike. The Infrastructure Investment and Jobs Act, passed by the US Congress, introduces a reporting provision requiring individuals involved in crypto transactions exceeding $10,000 to report them to the Internal Revenue Service (IRS) within 15 days. While this move aims to enhance transparency, it brings about a series of challenges and uncertainties. The Infrastructure Investment and Jobs Act, effective January 1, 2024, mandates that anyone receiving over $10,000 in crypto transactions must report the details to the IRS within 15 days. This includes providing personal

Over $1 Billion worth of crypto liquidated as Bitcoin drops below $41,500 yesterday
4 months ago 2 mins read

Over $1 Billion worth of crypto liquidated as Bitcoin drops below $41,500 yesterday

The crypto market is experiencing increased uncertainty as the US Securities and Exchange Commission (SEC) nears a decision on spot Bitcoin Exchange-Traded Funds (ETFs). While initial expectations were positive, recent expert analyses have added a note of caution. As the market speculated on the possible outcomes, Bitcoin’s value dropped 6.5% in minutes, falling from $44,400 to $41,500. This drop saw over $1 billion worth of crypto liquidated from the market. Bloomberg’s ETF expert, Eric Balchunas, tempered the general optimism by estimating that the ETFs have a 10% chance of being approved by the January 10 deadline. His assessment is based

Radiant Capital Faces $4.5 Million Exploit in Ethereum Theft
4 months ago 1 min read

Radiant Capital Loses $4.5 Million Worth of Ethereum to Hackers

Radiant Capital, a well-known cross-chain lending system, was recently the victim of a major security breach that resulted in the theft of 1,900 Ethereum (ETH) worth $4.5 million. PeckShield, a blockchain security and analytics firm, was the first to report the incident. The attack took advantage of a flaw in the lending platform that emerged following the activation of a new market. It’s worth noting that the platform under consideration is a fork of two well-known systems, Compound and Aave. The hacker took advantage of a well-known rounding flaw in the current Compound/Aave codebase. Surprisingly, the exploit was carried out

Investors Eye Key US Economic Reports as Crypto Market Surges
4 months ago 1 min read

Bitcoin (BTC) Surges Past $45.5K as Investors Await Major U.S. Reports

As the new year begins, crypto enthusiasts and mainstream investors are closely monitoring key economic reports from the United States. The emphasis is on traditional financial indicators and the burgeoning crypto market, where Bitcoin’s recent surge has sparked considerable interest. Investors are especially interested in upcoming reports that provide insight into the state of the US economy. The Institute for Supply Management’s December ISM Manufacturing PMI report is scheduled for release on Wednesday. This report is an important indicator for investors because it provides a snapshot of the overall health of the US manufacturing sector. Furthermore, the minutes of the

Thunder Terminal Faces Hack, Safeguards User Funds
4 months ago 1 min read

Thunder Terminal was the victim of a hacking attempt, resulting in the loss of 86 ETH and 439 SOL

Thunder Terminal, an on-chain trading platform, was recently the victim of a hacking attempt, resulting in the loss of 86 ETH and 439 SOL. Despite the breach, Thunder Terminal responded quickly, assuring users that all funds are secure and taking immediate steps to mitigate the impact. The hackers took advantage of a vulnerability by gaining access via a MongoDB URL, allowing them to execute fraudulent withdrawal requests and steal large sums of digital assets. The unauthorized activity began at 12:11:47 AM UTC but was effectively stopped by 12:20:35 AM UTC, demonstrating Thunder Terminal’s quick response to the security breach. Thunder

Ethereum Wallet Linked to Trump's NFTs Reportedly Moves $2.4M Worth Of ETH
4 months ago 1 min read

Ethereum Wallet Linked to Trump’s NFTs Reportedly Moves $2.4M Worth Of ETH

An Ethereum wallet allegedly linked to former President Donald Trump has recently come under scrutiny for transferring millions of dollars in crypto, which is thought to be proceeds from the sale of non-fungible tokens (NFTs). These findings were highlighted in a December 27 report by Arkham Intelligence, which raised concerns about the financial activities associated with Trump-themed NFTs. Over the last three weeks, the Ethereum wallet in question transferred 1,075 ETH (around $2.4 million) to the cryptocurrency exchange Coinbase. The wallet’s current value, according to Arkham Intelligence, is $2.22 million, which includes $1.39 million in Ethereum assets and $644,000 in

Arthur Hayes of BitMEX Shifts Focus from Solana to Ethereum
5 months ago 1 min read

Arthur Hayes of BitMEX dumps Solana (SOL) to buy Ethereum (ETH)

Arthur Hayes, the co-founder of BitMEX, has made a shift in his investment strategy, moving from Solana (SOL) to Ethereum (ETH). The unexpected decision, announced on the X platform, was attributed to a “divine message” Hayes claimed to have received during meditation. Alongside this switch, he made a bold prediction, foreseeing Ethereum’s price potentially hitting $5,000. Despite Solana’s recent achievements, reaching milestones and climbing close to $100, Hayes opted to divest from Solana and increase his investment in Ethereum. This announcement caused a stir within the crypto community, especially among Solana supporters, given Solana’s current strong performance in the market.

KuCoin has reached an agreement with the New York Attorney General (NYAG) to halt all operations in the state.
5 months ago 2 mins read

KuCoin Settles $22 Million Lawsuit with NYAG, Exits New York Operations

KuCoin has reached an agreement with the New York Attorney General (NYAG) to halt all operations in the state. The agreement stems from a lawsuit filed by KuCoin alleging illegal and unregistered sales of securities and commodities. KuCoin is required to pay over $22 million as part of the agreement, with over $16.7 million earmarked for refunds to New York-based users and an additional $5.3 million to the NYAG. The lawsuit, filed in March, accused KuCoin of running a cryptocurrency exchange where users could buy and sell cryptocurrency classified as securities or commodities under New York State law. The agreement

The past week saw the continuation of positive investment in the landscape of digital assets
5 months ago 1 min read

The crypto market gains over $40 million in a week, with Bitcoin leading

The past week saw the continuation of positive investment trends in the ever-changing landscape of digital assets, with a total inflow of $43 million. This sustained 11-week trend, while demonstrating resilience, represents a slight decrease from previous weeks. Notably, the market saw a shift toward short positions, indicating investor apprehension in the face of rising prices and potential market uncertainties. Bitcoin continues to be a dominant force, attracting $20 million in the last week and adding to its impressive year-to-date total of $1.7 billion. However, the report reveals an intriguing dynamic in which short positions on Bitcoin increased by $8.6

Google has announced changes to its crypto advertisements policy to improve its advertising standards and protect users
5 months ago 1 min read

Google announces changes to its crypto advertisements policy

Google has announced changes to its crypto advertisements policy to improve its advertising standards and protect users from potential crypto investment risks. These updates are focused on Cryptocurrency Coin Trusts, which are financial instruments that simplify the trading of shares in trusts that hold significant amounts of crypto. The changes are intended to provide users with more reliable information while also protecting them from potential risks associated with crypto investments. The updated policy will go into effect on January 29, 2024, and will specifically target ads promoting cryptocurrency coin trusts in the United States. Advertisers who want to run crypto

The price increase of Ethereum to $2402 reflects a strong bullish outlook
5 months ago 1 min read

Ethereum (ETH) surpasses $2,400, Surging 1.7% in the last 24 hours

Recent market trends paint a positive picture for Ethereum (ETH), implying that the popular crypto may be entering a period of growth. The price increase of Ethereum to $2,402 reflects a strong bullish outlook, driven by a number of factors that have piqued the interest of investors. VanEck, an investment firm, published a report outlining 15 projections for the cryptocurrency landscape in 2024. While discussing Ethereum’s potential to surpass Bitcoin, the report takes a nuanced approach, implying that despite significant gains, Ethereum may fall short of “flipping” Bitcoin. Technically, Ethereum’s performance remains positive, with a strong bullish trend supported by

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