Day: March 28, 2023

Bitcoin hash rate spikes to 398 exahash, analysts say miners coming back online

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Bitcoin’s (BTC) hash rate spiked to all-time highs of 398 exahash on March 23, and analysts have been speculating miners are starting to turn their rigs back on as the Bitcoin price rises. According to data aggregator YCharts the Bitcoin network hash rate has dropped to 344.63 as of March 27, an increase from 335.32 on March 26 but it is still up from 178.77 one year ago. In a March 26 post, Sam Wouters, a research analyst at Bitcoin (BTC) financial service provider River Financial, speculated the spike in…

Polygon launches its much-anticipated zkEVM

Finally, Polygon launched Polygon Hermes, their layer-2 zkEVM network. For decentralized applications (dapps) created on the Ethereum (ETH) network, this network intends to offer fast, affordable, and secure transactions. A version of the Ethereum Virtual Machine called the zkEVM uses zero-knowledge proof (ZKP). Smart contract computation over a layer-2 network is made private and safe, thanks to this. As a result, the pressure on the Ethereum mainnet is reduced, transactions are processed faster, and prices are lower thanks to the Polygon Hermes network’s ability to execute transactions off-chain. In addition…

Disney reportedly scraps its metaverse division

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Entertainment giant Disney has reportedly ditched its metaverse division as part of a broader restructuring plan that will see the firm cut its operating expenses by $5.5 billion and lay off 7,000 staff over two months. The news was reported by the Wall Street Journal (WSJ) in a March 28 post, citing “people familiar with the matter.” All of the metaverse division’s 50 or so members will be left without a new employment contract, with the exception of Michael White, who led the broader consumer-products unit, the WSJ reported. Disney…

Do Kwon registered a company in Serbia for $1 amid Interpol red notice: Report

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Terraform Labs co-founder Do Kwon established a company in Serbia for less than $1 just weeks after being flagged with an Interpol red notice, according to documents from the Serbian Business Registry. As per a DLNews report on March 27 citing the official records, Kwon opened a company called “Codokoj22 d.o.o. Beograd” in October 2022 for $0.92  (100 Serbian dinars).  It registered its main business activity as consultancy services. Although Kwon is the sole owner of the company, Han Chang-Joon, the former CEO of Chai Corporation, was reportedly listed as…

Binance Experiences Significant BTC, ETH, and Stablecoin Withdrawals Following CFTC Lawsuit – Bitcoin News

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After the U.S. Commodity Futures Trading Commission sued Binance for alleged violations of trading and derivatives rules, a significant amount of cryptocurrency was withdrawn from the exchange. Data from analytics provider Nansen shows $400 million in Ethereum-based funds were withdrawn in 24 hours, and 3,655 bitcoin worth more than $99 million were withdrawn over the past day, according to Coinglass metrics. 3,655 Bitcoin Withdrawn From Binance in 24 Hours On Monday, March 27, 2023, the U.S. Commodity Futures Trading Commission (CFTC) sued Binance and CEO Changpeng Zhao (CZ), alleging the…

7 details in the CFTC lawsuit against Binance you may have missed

The surprise lawsuit from the Commodity Futures Trading Commission (CFTC) against crypto exchange Binance sent shock waves across the markets today.  In addition to allegations of market manipulation and a lack of compliance effort, the regulator has also accused the exchange of not cooperating with investigative subpoenas and obscuring the location of its executive offices. Binance has rejected many of the allegations. However, the devil is in the details when it comes to the 74-page complaint. Here are a few interesting snippets you may have missed. Tokens labeled as commodities…

CoinEx Charity Passes on the Spirit of Charity – Press release Bitcoin News

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press release PRESS RELEASE. Every year, natural disasters like earthquakes, hurricanes, and floods hit countries around the world, severely damaging local infrastructure and homes and causing casualties. Individuals and communities in the catastrophe-hit areas suffer a heavy loss and need help from the outside badly. For years, numerous public welfare organizations and charitable groups have been actively providing relief and assistance to those affected by disasters worldwide, and among such contributors is CoinEx Charity. Having been committed to disaster relief programs for over a year, CoinEx Charity has joined the…

Bitcoin ATM maker to refund customers impacted by zero-day hack

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Bitcoin ATM manufacturer General Bytes says it is reimbursing its cloud-hosted customers that lost funds in a “security incident” in March that saw its customers’ hot wallets accessed. As previously reported by Cointelegraph, the ATM manufacturer issued a statement about a security incident on March 17 and March 18, which involved a hacker remotely uploading a Java application into its terminals and gaining access to sensitive information, such as passwords, private keys and funds from hot wallets. In a recent statement to Cointelegraph, the ATM manufacturer said have since been…