Month: March 2023

Latest ‘Shadow Fork’ Brings Ethereum a Step Closer to Its Shanghai Upgrade

▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io Join #Consensus2023, the most important conversation in crypto and Web3, happening April 26-28 in Austin, Texas. Tickets on sale now: Ethereum developers said they successfully created a copy of the blockchain to provide a testing environment ahead of the much anticipated Shanghai upgrade. CoinDesk Ethereum Protocol Reporter Margaux Nijkerk discusses the significance of this “shadow fork” and what the new upgrade could mean for the protocol and ETH staking firms. ▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io Youtube version

Coinbase met with Australian banking regulators over local crypto regulations

The Reserve Bank of Australia (RBA) and Treasury have been holding private meetings with executives from Coinbase, with discussions revolving around the future of crypto regulation in Australia. Responding to Cointelegraph’s request for comment, an RBA spokesperson confirmed recent reports that these private meetings had occurred, stating that Coinbase met with the RBA’s Payments Policy and Financial Stability departments this week, “as part of the Bank’s ongoing liaison with industry.” Tom Duff Gordon, Coinbase’s vice president of international policy who was reported to have been flown in for the meetings,…

SBF’s inner circle received $3.2B, mainly from Alameda: Court filings

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FTX and Alameda Research’s former top brass received $3.2 billion in payments and loans from FTX-linked entities, according to the FTX administrators handling the firm’s restructuring. FTX, now helmed by CEO John Ray III, has been tracking missing funds from the exchange since its collapse, which it estimates to be $8.9 billion in total. According to a March 15 statement from FTX Debtors, financial statements it filed in the Delaware Bankruptcy Court point to billions of dollars worth of loans and payments that allegedly flowed to Sam Bankman-Fried and high-ranking…

Shiba Inu Token Falls 10% Amid Shibarium Code Drama

Discord user “Justinlime,” another network validator chimed in: “Even if some of the code was used in the beta does not mean all of it was. To me it’s very doubtful that it’s a direct fork with nothing changed. Forking, and building upon already established software, is the core foundation of what FOSS(free and open source software) stands for.” Source

Court Dismisses Former Monero Developer’s Bid to Have His Extradition to South Africa Declared Illegal – Regulation Bitcoin News

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The Supreme Court of Appeal (SCA) in South Africa has rejected former Monero lead maintainer Riccardo Spagni’s bid to have it declare his extradition from the United States to South Africa illegal. In its ruling, the Supreme Court of Appeal insisted that Spagni did not sufficiently argue for the voiding of the extradition process. Spagni Challenges Extradition Process A South African court has dismissed former Monero lead developer Riccardo Spagni’s attempt to have his extradition from the United States to South Africa ruled illegal, a local report has said. In…

US credit crunch means it’s time to buy gold and Bitcoin: Novogratz

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The United States is headed for a credit crunch and now is the right time to buy gold, silver and Bitcoin (BTC), says Galaxy Digital founder and CEO Michael Novogratz. “We are going to have a credit crunch in the U.S. and globally,” Novogratz explained in an interview on CNBC. “You want to be long gold and silver […] and you want to be long Bitcoin,” he said. Speaking on CNBC’s Squawk Box on March 15, Novogratz noted that banks typically rebuild capital by lending less, meaning that a credit crunch…

Federal Reserve confirms July launch for FedNow instant payment service

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The United States Federal Reserve has confirmed a July launch date for its long-awaited instant payments system, seen by some as an alternative to central bank digital currencies (CBDCs) and stablecoins. The instant payment network will settle payments in seconds and can support transactions between consumers, merchants and banks. It does not rely on blockchain technology. It’s a significant step for the government as it is controlled by the Federal Reserve Bank, as opposed to Clearing House’s RTP network which is operated by a consortium of large banks.  @federalreserve @frbservices…

Formfunction to shutter marketplace amid Solana NFT slump

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Formfunction, a Solana (SOL)-based nonfungible token (NFT) marketplace, has announced its closing up shop after only 13 months of operation amid a slump in Solana NFT prices and trading volumes. On March 15, Formfunction announced it is “shutting down” on March 29 saying it “cannot continue to operate” after “much discussion and careful consideration.” We have some sad news to share today—Formfunction is shutting down on Wednesday, March 29th. This was an extremely difficult decision; however, after much discussion and careful consideration, we’ve come to the conclusion that we cannot…