Day: February 1, 2023

Ethereum’s Shanghai fork is coming — but it doesn’t mean investors should dump ETH

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Ethereum’s next big upgrade, Shanghai, is on the horizon for March. The Shanghai hard fork will implement further improvement proposals for the Ethereum network as well as enable Ether (ETH) stakers and validators to withdraw their assets from the Beacon Chain. At the time of writing, staked ETH represents approximately 14% of the total supply, or 16 million coins. It equates to over $25 billion at ETH’s current price, a substantial sum that will gradually become liquid following the fork. Some ETH stakers have waited over three years to withdraw…

Cathie Wood’s Ark Invest Says Bitcoin Could Exceed $1 Million By 2030

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Cathie Wood’s Ark Invest recently released its Big Ideas report.  The report delved into various aspects of public blockchains and digital wallets, among other things.  The asset manager believes that Bitcoin could be worth more than $1 million by 2030. Public blockchains were presented as the future of money and contracts.  Ark Invest, the American asset management firm launched by Cathie Wood, presented its take on the future of finance and blockchain technology in its Big Ideas 2023 report. Aside from crypto, the report discussed various exciting technologies, including Molecular…

AllianceBlock Token Plunges 51% After $5M Exploit

AllianceBlock has paused all activity on its bridge following the attack, which occurred Wednesday afternoon. During the exploit, a Polygon wallet accessed 112 million ALBT tokens, bridging them from the Polygon blockchain to the Ethereum blockchain. The hacker also got 500,000 USDC from dumping Bonq Euro (BEUR) tokens. Source

Britain Announces Plans for ‘Robust’ Crypto Rules, Launches Consultation – Regulation Bitcoin News

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The U.K. has unveiled “ambitious plans” to “robustly regulate” various crypto activities, while seeking to protect customers and grow its economy. In the next three months, British authorities will accept public feedback on the new regulatory proposals designed to govern digital assets like traditional finance. British Government Sets Out to Regulate Crypto Market, Remains Committed to Innovation The executive power in London has announced plans to regulate a wide range of crypto-related activities through new rules for the young industry that will be consistent with Britain’s regulations for the traditional…

Judge dismisses proposed class-action suit alleging Coinbase securities sales

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A proposed class action suit against cryptocurrency exchange Coinbase, Coinbase Global and CEO Brian Armstrong alleging unregistered securities sales was dismissed in the United States District Court of Southern New York on Feb. 1. The suit, filed on March 11, claimed that 79 of the tokens listed on Coinbase were securities being sold without proper registration and customers were not warned of their risks. The suit brought charges under the Securities Act of 1933 and Exchange Act of 1934 and used the Howey test, established by the U.S. Supreme Court…

Judge dismisses proposed class action suit alleging Coinbase securities sales

A proposed class action suit against cryptocurrency exchange Coinbase, Coinbase Global and CEO Brian Armstrong alleging unregistered securities sales was dismissed in the United States District Court of Southern New York on Feb. 1. The suit, filed on March 11, claimed that 79 of the tokens listed on Coinbase were securities being sold without proper registration and customers were not warned of their risks. The suit brought charges under the Securities Act of 1933 and Exchange Act of 1934 and used the Howey test, established by the U.S. Supreme Court…

Crypto Investors Can Purchase Bankruptcy Put Options to Protect Funds on Binance, Coinbase, Kraken Crypto Exchanges

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This means a Binance account holder with a balance of $1 million who wants protection may buy a put option with a six-month expiry for an estimated price of $27,000-$33,000 paid upfront given the monthly rates. If the firm files for bankruptcy within the contract term, the seller would be obligated to buy the account holder’s valid bankruptcy claim at the full $1 million price. Source