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Cryptography News
Zycrypto
1d
94
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Ripple’s XRP Risks Another Blow As SEC Labels Its Stablecoin Project As An ‘Unregistered Crypto Asset’
- The United States Securities and Exchange Commission (SEC) has labeled Ripple's stablecoin project as an 'unregistered crypto asset'.
- The SEC argues that Ripple's proposed stablecoin proves the firm's potential to conduct unregulated activities without a permanent injunction.
- Ripple unveiled its stablecoin plans in April and it is expected to be launched later this year.
- The question of whether XRP is a security is still unresolved, with the court case between Ripple and the SEC ongoing.
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Zycrypto
1d
151
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Crypto Presales May 2024: Analysing BlockDAG, DarkLume, SimuGaze, Memeinator, and Bitbot
- BlockDAG leads among the top 4 crypto presales for May 2024, with impressive presale achievements and long-term growth potential.
- DarkLume impresses with its metaverse economy, offering VR gaming opportunities and socio-economic experiences.
- Memeinator aims to dominate the meme coin market and has generated substantial interest through its presales.
- SimuGaze drives VR gaming innovation with its SGAZE token and attractive gaming and trading opportunities.
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Zycrypto
1d
366
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Bitcoin Settles Into $62,000 As Traders Set Their Sights On $100,000, Backed By Bullish Fundamentals
- Bitcoin's price settles around $62,000 as traders anticipate a rally to $100,000.
- Positive factors include a disappointing US macroeconomic outlook and a weaker dollar index.
- Rising numbers of active bitcoin call contracts indicate bullish sentiment.
- Ex-CEO of BitMEX predicts a potential dip before a climb to higher prices.
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Bitcoinmagazine
1d
60
President Joe Biden Will Veto Legislation Allowing Financial Firms to Custody Bitcoin: White House
- The Executive Office of US President Joe Biden announced that he would veto proposed legislation allowing highly regulated financial firms to custody Bitcoin and other cryptocurrencies.
- The legislation, H.J. Res. 109, aims to overturn the SEC's Staff Accounting Bulletin (SAB) No. 121, which imposes restrictions on financial institutions regarding the custody of digital assets.
- Congressman Patrick McHenry expressed support for overturning SAB 121, criticizing it as regulatory overreach and a hindrance to innovation.
- Advocacy group Chamber of Digital Commerce voiced disappointment over President Biden's stance, stating that SAB 121 prohibits trusted custodians from managing digital assets.
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Cryptopotato
1d
71
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Polkadot Completes a Major Upgrade: Asynchronous Backing Now Live
- Polkadot has completed a major upgrade with the implementation of Asynchronous Backing on its network.
- Asynchronous Backing optimizes the validation of parachain blocks on the Relay Chain, resulting in faster block production and increased blockspace.
- The upgrade brings Web2 scale to Web3 applications, paving the way for support in gaming and DeFi sectors.
- Analysts anticipate a potential price rise for Polkadot's native cryptocurrency, DOT, with price predictions ranging from $10 to $15.
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Cryptoslate
1d
147
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Trump’s potential return could catalyze major uptick in alt investments like Bitcoin – StanChart
- A Standard Chartered report suggests that a second term for Donald Trump could lead to a significant boost in Bitcoin and other digital assets as alternative investments.
- The report explores the potential impact of US fiscal policies under a potential Trump administration on the adoption of cryptocurrencies.
- Standard Chartered predicts a target price of $150,000 per Bitcoin by the end of 2024 and $200,000 by the end of 2025.
- The report also highlights the potential regulatory environment under a Trump presidency, with potential approval of US spot exchange-traded funds for cryptocurrencies.
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Bitcoinmagazine
1d
215
Bitcoin Lightning Wallet ZEUS Isn’t Going Anywhere
- Bitcoin lightning wallet, ZEUS, has a mission to enable users to make Bitcoin payments their way, whether they are just starting out or are seasoned veterans using a full node running at home.
- ZEUS prides itself on providing self-custody and privacy features while many other wallets make trade-offs for cost saving or the bay user experience.
- Evan Kaloudis, the founder of ZEUS, emphasises the importance of self-custody, no KYC and the right to privately self-custody bitcoin in the US, which had to be defended at all costs.
- While Kaloudis admits that there is a good chance of Zeus getting targeted by regulators in the future, he believes the company's product is so good that thousands of people would continue to use the software even if its services were shut down.
- Kaloudis believes the current price of Bitcoin is being mainly driven by people trading the cryptocurrency like a stock or using it as an entry tool to gamble on shitcoins and meme coins, rather than being adopted as a medium of exchange which is the larger threat to Bitcoin opponents.
- Adding protocol-level changes is necessary for the easier adoption of Bitcoin as a medium of exchange, according to Kaloudis, who also believes that allowing payment channels to be set up without breaking the bank would make Bitcoin adoption more accessible and beneficial.
- Zeus has two Nostr integrations, one of which enables users to import contacts from Nostr, allowing them to send payments more easily. The other integration uses Nostr to power Zeus' self-custodial Lightning address service.
- ZEUS has built measures into their system that will prevent bad actors from using their platform. If regulators come knocking on their door, they will show them that it's not just a free for all, but acts in good faith to enable users to freely make Bitcoin payments their way.
- Kaloudis says the cryptocurrency industry has seen a real chilling effect following recent crackdowns on other firms, and hopes that his actions will encourage others to stand up and not leave the markets preemptively.
- In Kaloudis' opinion, the entire world will change if the Bitcoin project succeeds, but the opposing side has advantages that could cause a home run. Despite this, he sees there being a lot more crazy developers in the future.
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Cryptopotato
1d
121
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SolanaVM is Bringing 68 Billion Value EVM dApps to Solana, With Their EVM Compatible L2 Chain
- SolanaVM aims to bring 68 billion value EVM dApps to Solana by bridging the gap between Ethereum and Solana.
- SolanaVM acts as a bridge, allowing developers to seamlessly move their existing Ethereum applications to Solana.
- Solana offers high transaction speed and significantly lower fees compared to Ethereum.
- SolanaVM's compatibility features enable effortless migration with minimal code changes.
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Bitcoinmagazine
1d
102
Ordinal Derangement Syndrome (ODS) Is a Real Phenomenon
- Ordinal Derangement Syndrome (ODS) is a real phenomenon that emerges as a significant factor within a section of the Bitcoin community, characterized by an oversimplification and dismissive attitude toward Ordinals.
- The Bitcoin Magazine has been criticized for covering Ordinals and promoting the technology, and many critics dismiss the intricate details of Ordinals, reflecting superficial engagement with the technology.
- The Bitcoin community's reductive discussions and dismissal of Ordinals reflect a mid-wit mentality prevalent among certain Bitcoin influencers.
- Ordinals resurface Bitcoin scaling issues, and their potential long-term consequences require more dialogue rather than less.
- The belief that Bitcoin's global adoption will mirror the individual discovery journey of its 2020 cohort is a narrow perspective.
- Dismissing the evolving nature of Bitcoin's adoption and utility risks sidelining oneself from the ongoing developments and conversations, especially in a permissionless environment.
- Bitcoin Magazine, as an independent media outlet, has a responsibility to cover all facets of Bitcoin, including Ordinals.
- Withdrawal from a conference or criticizing an organization due to perceived moral superiority of one topic often reflects underlying issues like pandering, grifting, or lack of intellectual rigor.
- Ignoring Bitcoin's non-monetary applications is shortsighted and misguided, and it's critical to acknowledge and explore the full spectrum of Bitcoin's applications.
- The emerging trend of using Ordinals as an excuse to overlook Bitcoin's non-monetary applications is deeply troubling, and it disregards Bitcoin's capabilities in enabling proof of existence, providing timestamping solutions, facilitating decentralized domain name systems, supporting immutable messaging, and enhancing decentralized identity verification.
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Cryptopotato
1d
147
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WBTC Scammer Transfers $71 Million Loot Following Poisoning Fraud
- The individual associated with a recent $71 million wallet phishing attack has finally begun transferring the funds to new addresses.
- The scammer initiated a process of breaking down the looted assets into smaller portions and dispersing them across numerous crypto wallets to dilute the stolen funds and obscure traceability.
- Approximately 400 crypto wallets were utilized by the scammer to distribute the funds across over 150 wallets.
- Despite efforts to obfuscate the origin of the stolen funds, blockchain investigation firm PeckShield revealed that all the diverted assets can still be traced back to the unidentified scammer.
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Zycrypto
1d
204
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Solana’s Co-founder makes strong case for meme coins; spotlights memecoin migration from ETH to Solana
- Solana co-founder, Raj Gokal, supports meme coins and believes they are not a threat to the broader crypto market.
- Gokal argues that meme coins appeal to a younger audience, which is crucial for advancing the industry.
- Prominent crypto figure, Eddy Lazzarin, criticizes memecoins for undermining the long-term vision of crypto and lacks technical interest.
- The acceptance and criticism of meme coins from the digital finance industry have sparked debates on their adoption and regulation in the cryptocurrency community.
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Cryptoslate
1d
117
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US lawmakers introduce bill to suspend crypto mixer transactions
- US lawmakers have proposed a new bill that aims to temporarily prevent financial institutions from engaging in transactions involving funds that have been through crypto mixers.
- The proposed legislation, called the Blockchain Integrity Act, seeks to impose a two-year moratorium on financial institutions from accepting funds routed through a mixer and withdrawing funds to known mixer addresses.
- During this period, the bill mandates a comprehensive study by the Treasury Department, SEC, CFTC, and DOJ on digital asset mixers, privacy coins, and anonymity-enhancing technologies.
- The bill aims to better understand the use of mixers for illicit purposes, prevent crypto-funded terrorism, and inform future policymaking.
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Zycrypto
1d
159
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Bitcoin Whales Powerful Enough to Revive Bullish Rally, Data Reveals
- Bitcoin whale activity on the network has dropped since March 14.
- A surge in whale transactions could boost Bitcoin prices.
- Small Bitcoin holders are accumulating, while whales have been redistributing.
- Bitcoin experienced a downward reversal amidst bearish sentiments.
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Siliconangle
1d
121
Image Credit: Siliconangle
Lagrange raises $13M to build blockchain-based cryptographic ‘big data’-scale computation
- Lagrange Labs raises $13.2 million in seed funding to scale up blockchain-based cryptographic computation.
- Funding round led by Peter Thiel's Founders Fund, with participation from other investors.
- Lagrange aims to use the funding to develop its technology stack and build partner projects.
- The company's ZK Coprocessor enables scalable data and computation across blockchains.
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Bitcoinmagazine
1d
174
Your Wealth Is Melting: Why Bitcoin Is The Deep Freeze Your Portfolio Desperately Needs
- Bitcoin with its unique monetary properties redefines the concept of saving and money.
- Unlike traditional assets, bitcoin has an immutable, fixed supply and operates on a programmatic, exponentially decreasing supply schedule, making it immune to inflationary tendencies.
- Bitcoin is becoming the scarcest form of money ever existed, due to its decentralization and aggregate functions.
- Money solved the double coincidence of wants & individuals within economic systems converge on one best tool to be used as money, now bitcoin.
- Bitcoin is fungible, portable, durable, and divisible, with superior monetary properties that make it the world’s first perfectly scarce good with sufficient monetary properties.
- Bitcoin serves as a constant to measure other asset classes against and makes it clear that the ways the long-term value of all these asset classes are challenged.
- Traditional saving methods are vulnerable to being increased in quantity or devalued over time, and their streams of future cash flows can be competed away.
- In a world with bitcoin, we must ask if traditional assets are overvalued in light of their risk-adjusted returns.
- Bitcoin reintroduces the concept of true savings, making the distinction between savings and investment obvious once again.
- Bitcoin is a deep freeze at absolute zero compared to all the melting assets people use as savings vehicles today.
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