Day: June 8, 2022

Crypto Exchange Gemini Hit With Lawsuit for Alleged Negligence Over $36,000,000 in Customer Funds

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A retirement account trust company is suing the crypto exchange Gemini for failing to have the “proper safeguards in place” to protect its customers’ assets. IRA Financial Trust alleges hackers stole $36 million in crypto assets belonging to their customers’ retirement accounts which were reportedly in Gemini’s custody. The South Dakota-based trust company has pledged to use proceeds from the lawsuit to reimburse the impacted customers. The firm claims Gemini’s Application Programming Interface (API) had a single point of failure, and that the exchange’s system had a “sweeping vulnerability that…

Ethiopian Central Bank Urges Residents to Stop Engaging in Crypto Transactions – Regulation Bitcoin News

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The National Bank of Ethiopia (NBE) has said it does not recognize cryptocurrencies as a legitimate method of payment and that residents must avoid using them. The bank insists the local birr currency is the only lawful means of settling transactions in Ethiopia. Illegal Transactions The Ethiopian central bank has warned citizens against engaging in “illegal” cryptocurrency transactions, a report has said. The report adds that the central bank still does not recognize cryptocurrencies like bitcoin as a payment method. In its report, the state-affiliated media outlet Fanabc refers to…

Scaling Ethereum Beyond the Merge: Danksharding

Compared to sidechains, Layer 2 rollups are considered by many developers to be the more secure way for Ethereum to scale. Rollups, like sidechains, take the stress off of Ethereum by executing transactions on a separate blockchain. Transactions are “settled” on the rollup chain, bundled up, and then “posted” to Ethereum. Unlike sidechains, rollups borrow their security from the Ethereum mainnet – they use fancy cryptography and other methods (like a multi-day dispute period) to allow Ethereum mainnet nodes to confirm that transactions are legitimate. Source

Did Celsius’ Withdrawal Trigger The Terra/ LUNA Collapse? Claim & Response

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Did Celsius set off the domino effect? Almost a month ago, The Block Crypto reported that Celsius pulled at least $500M from the Anchor protocol before the collapse. Two weeks ago, blockchain analytics firm Nansen identified Celsius among the seven big wallets that allegedly triggered the bank run on Anchor. Recently, Celsius responded.  Is this the explanation for the Terra/ LUNA collapse? Was this whole situation not a deliberate attack? Were natural market forces responsible instead? The estimation is that 75% of all UST in existence was locked in the…

BITCOIN BREAKOUT NOW (must watch)!! Bitcoin News Today, Bitcoin Price Prediction after Bitcoin Crash

▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io BITCOIN BREAKOUT NOW (must watch)!! Bitcoin News Today, Bitcoin Price Prediction after Bitcoin Crash Welcome back to the Crypto World! In this video I reveal my next Bitcoin Price Targets and my Bitcoin Strategy (Bitcoin Trading for Beginners)! Is Bitcoin the best crypto to buy now? Comment below! And leave a LIKE and SUBSCRIBE for more videos like this! 🚨NEW: My Complete Technical Analysis Course 👉 👈 ► I trade on Bybit 👉 👈 (NEW $4,100 BONUS)* 🔥 Register with my link…

Ethereum Market Cap Cut By Over $100 Billion Last Month

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The worsening condition of the crypto market has seeped through Ethereum. The market cap of Ethereum was purged by more than $100 billion last month. Ethereum was trading at $1,809.49, down -6.9% Wednesday, chart by Coingecko shows. The bearish market stance is getting more consistent as Ethereum appears to settle at its comfort zone and trade below $4,000 this year. Being second in line to the top crypto Bitcoin, Ethereum remains unassailable, with it maintaining its ranking as the second-biggest cryptocurrency in terms of market cap. ETH closed May with…

BITCOIN WILL WE HOLD THIS LEVEL? BITCOIN PRICE PREDICTION AND TECHNICAL ANALYSIS 2021!

▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io In this video we take a look at BITCOIN (BTC). We also look at technical analysis for BITCOIN (BTC) as well as price predictions moving forward into the future. CRYPTO TRADING COURSE: JOIN THE DISCORD: TWITTER: Disclaimer: This video should not be considered as financial advise and was only created for entertainment/educational purposes. I will never ask you for money or information nor will I ever give you financial advice. Please be aware of scammers in the comments impersonating the clever crypto…

Major South Korean crypto exchanges delist Litecoin

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Major cryptocurrency exchanges in South Korea have delisted Litecoin (LTC) weeks after flagging its privacy-focused MimbleWimble (MWEB) upgrade. In a public announcement on Wednesday, Upbit cited the Act on the Reporting and Use of Specific Financial Transaction Information, which prohibits anonymous transactions as the key reason for ending support for LTC. The delisting comes in the light of the much-awaited MWEB upgrade that made LTC transactions private, hiding some of the key identifiers. The upgrade was released earlier this year, nearly two years after its first proposal. The crypto exchange…

IMF recommends eco-friendly CBDCs and non-PoW mechanisms for payments

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An International Monetary Fund (IMF) study on energy consumption revealed the importance of design choices within the crypto ecosystem to build an environmentally friendly mainstream payment system. In the study entitled “Digital Currencies and Energy Consumption,” the IMF examined the energy consumption of crypto assets based on their distinct design elements to evaluate the ideal mechanism for developing central bank digital currencies (CBDCs). Estimates of energy use (in kWh) per transaction for the core processing of different payment systems. Source: IMF Sharing the groundwork for policy discussions around the environmental impacts of digital currencies, the…