Month: June 2022

Ethereum Rising Gas Fees are Still Concerning But Presents Opportunity For Decentralized Exchanges

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Paying gas fees is a crucial component of exchanging crypto and mining digital assets yet remains a significant cost barrier for transactions. A prime example is the major cryptocurrency Ethereum, whose network incurs inherently high gas fees due to its high volume of transactions and token evaluation. The term gas is used to define the amount of Ether (ETH) needed to perform a specific transaction allowing users to interact with the network. These fees are used to compensate miners for the energy required to verify a transaction. The gas price…

ICO sets out revised approach to public sector enforcement

The Information Commissioner’s Office (ICO) has today set out a revised approach to working more effectively with public authorities. This approach, which is outlined in an open letter from the UK Information Commissioner John Edwards to public authorities, will see use of the Commissioner’s discretion to reduce the impact of fines on the public sector, coupled with better engagement including publicising lessons learned and sharing good practice. It will be trialled over the next two years. In practice, this will mean an increased use of the ICO’s wider powers, including…

Risk of ‘Significant Drawdowns’ Pushes Cypherpunk Holdings to Sell Entire Stash of Bitcoin and Ethereum – Bitcoin News

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On Tuesday, the Canada-based investment firm Cypherpunk Holdings Inc. announced that the company has sold all of its bitcoin and ethereum due to the “risk of further significant drawdowns.” The company has transitioned its treasury to cash after selling 214.72 bitcoin and 205.82 ethereum as Cypherpunk Holdings continues “to see systemic risks propagating” across the crypto economy. Cypherpunk Holdings Sells All of the Bitcoin and Ethereum on Its Balance Sheet Crypto winter has done a lot of damage since the bull run’s price highs, as more than $2 trillion has…

Open letter from UK Information Commissioner John Edwards to public authorities

Dear public sector colleagues, The role of UK Information Commissioner comes with responsibilities, powers, and discretions. Since starting my role in January, I have been touring the UK listening to businesses, organisations and the public about their expectations of me and my office. These conversations have informed my early views on how I can ensure the Information Commissioner’s Office (ICO) remains a pragmatic, proportionate and effective regulator focused on making a difference to people’s lives. Based on my experience as a regulator, informed by what I have seen and heard…

80,000 Bitcoin millionaires wiped out in the great crypto crash of 2022

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More than 80,000 Bitcoin (BTC) investors have had their millionaire status revoked due to the crypto market downturn, but lower prices mean the number of whole coiners is growing.  Back on Nov. 12, just days after Bitcoin hit a new all-time high of around $69,000, a total of 108,886 BTC addresses reported a balance greater than $1 million, according to data from BitInfoCharts. Fast forward to the present day, with the price of Bitcoin struggling to hold above $20,000, a mere 26,284 addresses are reported to contain holdings valued at upward of $1…

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OpenSea data breach causes massive leak of users’ email addresses

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OpenSea, the world’s largest nonfungible tokens (NFT) marketplace, has issued a warning to customers after it was discovered that an employee of Customer.io, a platform for managing email newsletters and campaigns, leaked the list of OpenSea customers’ emails to an outside party. The breach has affected all of the users who have given their email to the marketplace, whether it’s for the platform or its newsletter. Following the breach, OpenSea advised customers against potential phishing attempts. The NFT marketplace announced on Thursday that it has contacted law enforcement officials about…

What Is Cryptocurrency and How Does It Work? | Cryptocurrency Explained

▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io Generally, a cryptocurrency is a type of digital asset that is secured by cryptography and uses a consensus mechanism to create an immutable database of transactions. This database or ledger is referred to as a blockchain. Cryptocurrency technology is evolving at rapid pace and new consensus and governing ideas are constantly evolving. TradeStation Crypto offers an exciting way to trade and invest in this new asset class with the security of a trusted brand. Investing in cryptocurrencies involves significant risks. For details,…

Taiwan’s Central Bank May Need 2 Years to Complete Work on CBDC – Bitcoin News

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Taiwan’s central bank is yet to conclude work on its central bank digital currency (CBDC) and according to the bank’s governor, the institution may need two more years to finish its work, a report has said. Some of the bank’s next tasks include winning the public’s support, ensuring the system is stable, and building the currency’s legal framework. Simulating Use of the CBDC Some two years after work on Taiwan’s central bank digital currency (CBDC) commenced, the governor of the country’s central bank, Yang Chin-long, recently revealed that his organization…