Day: November 23, 2022

Ethereum Whales Accumulate ETH Tokens Amid High Sell-off

The crypto market often runs on a cycle of highs and lows. Conscious investors leverage the lows to enrich their wallets with assets awaiting the bull run. This quarter’s bearish trend is no exception. The past few weeks in the crypto market have been filled with massive losses following the FTX collapse. The extreme macroeconomic conditions following the Fed’s interest rate hike are not helping matters. Ethereum, the second-largest cryptocurrency, suffered multiple setbacks in the last weeks following the market decline. Ethereum slumped below $1,600 to $1,081, losing nearly 24%…

Bitcoin Rebounds, Coinbase Confirms Holding 2 Million BTC – Market Updates Bitcoin News

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Bitcoin moved back above $16,000 on Nov. 23, as markets continued to react to the news that Coinbase holds 2 million bitcoin worth $39.9 billion. Centralized exchanges continue to face scrutiny following the collapse of FTX, with many moving to showcase their proof of reserves. Ethereum was also higher, with the token moving back towards $1,200 today. Bitcoin Bitcoin (BTC) rebounded from recent declines on Wednesday, as markets were boosted by the news that Coinbase has 2 million BTC in its reserves, as of the end of Q3. Following a…

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Alameda-Backed Crypto Trading Firm 3Commas Says It’s Pretty Sure It Wasn’t Breached

Speculation of something more sordid grew louder on Nov. 14, when Changpeng “CZ” Zhao, the CEO of Binance, the world’s largest crypto exchange by volume, referenced 3Commas in a tweet: “We [sic] seen at least 3 cases of users who shared their API key with 3rd party platforms (Skyrex and 3commas), and seen unexpected trading on their accounts. If you used such a platform before, I highly recommend you to delete your API keys just to be safe.” Source

Bank of Japan to trial digital yen with three megabanks

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Despite Japan’s uncertainty on whether to issue a central bank digital currency (CBDC), the Bank of Japan (BoJ) continues experimenting with a potential digital yen. The Japanese central bank has started a collaboration with three megabanks and regional banks to conduct a CBDC issuance pilot, the local news agency Nikkei reported on Nov. 23. The pilot aims to provide demo experiments for the issuance of Japan’s national digital currency, the digital yen, starting in spring 2023. As part of the trial, the BoJ is expected to cooperate with major private…

Researcher explains ETH exodus from exchanges

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Blockchain analytics carried out by a Nansen researcher has highlighted outflows of Ether (ETH) and stablecoins from centralized exchanges in the wake of FTX’s collapse. Nansen research analyst Sandra Leow posted a thread on Twitter unpacking the current state of Decentralized Finance (DeFi), with a specific focus on the movement of ETH and stablecoins from exchanges. As it stands, the Ethereum 2.0 deposit contract contains over 15 million ETH while some 4 million Wrapped ETH are held in the WETH deposit contract. Web3 infrastructure development and investment firm Jump Trading…

Estonia, US Arrest 2 Suspects in $575 Million Crypto Fraud Scheme – Bitcoin News

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Law enforcement officers from Estonia and the United States have arrested two men for allegedly committing a large-scale cryptocurrency fraud. The Estonian nationals, who ran a crypto mining service and a fake virtual currency bank, laundered their proceeds, spent on cars and real estate, and donated to a politician. Estonian Police, FBI Detain 2 Crypto Fraudsters in Joint Operation Two Estonian citizens, suspected of fraud involving cryptocurrency and money laundering, have been arrested by the Estonian National Criminal Police and the U.S. Federal Bureau of Investigation (FBI). The United States…

Anxious Ethereum Stakers Question When They’ll Be Able to Access Funds

Ethereum developers say they are committed to making withdrawals a priority for Shanghai. “There’s always discussions about timelines and moving things around, but I don’t think there’s ever been more consensus among core devs to move withdrawals back. It has and will always be included in the next fork,” said Parithosh Jayanthi, a DevOps engineer at the Ethereum Foundation, to CoinDesk. “I don’t see a scenario in which withdrawals don’t get shipped in the next fork.” Source

Bitcoin Mining at a Flare Gas Oil Well Site. BTC Farm Tour.

▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io I took a trip with @Your Friend Andy to tour a bitcoin farm that runs on otherwise wasted stranded Flare Gas from an oil pump. Capturing the wasted energy of the oil industry to make a profit. Mining with Flaregas from an Oil Field is surprisingly green! During the process of pumping oil out of the ground, you also pump out a bunch of water and wasted natural gas. Oil companies tend to simply light that gas on fire and burn it…