Day: April 1, 2023

US Government Plans to Sell Over 41,000 Bitcoins Confiscated from Silk Road Hacker – Bitcoin News

boss

According to a court document filed on March 31, 2023, regarding the sentencing of James Zhong, who stole over 50,000 bitcoin from the Silk Road marketplace, the U.S. government plans to liquidate 41,490 bitcoin “over the course of this calendar year.” U.S. Government Discloses Strategy for Selling Confiscated Bitcoin The U.S. government, one of the largest holders of bitcoin, plans to sell 41,490 BTC in 2023, according to a court filing submitted in the case of James Zhong’s sentencing. The government made the historic bitcoin seizure in November 2022 when…

March Sees Cryptocurrency Market Surge Despite Setbacks and Regulatory Uncertainty

boss

March turned out to be a good month for the cryptocurrency market, with bitcoin surging over 21%, while other cryptocurrencies also recorded impressive gains. XRP, Stellar’s XLM token, and Injective Protocol’s INJ token recorded gains of 41%, 26%, and 34%, respectively. In contrast, Chain’s XCN token in the CMI’s Currency sector was among the biggest losers, plummeting over 53% in March, media reports said.  Encrypted messaging protocol Network’s native token, MASK, emerged as March’s top-performing asset, surging 68% to trade at $6.30. Reports indicate that the price surge followed the…

Former Activision Blizzard executive joins Yuga Labs as CEO

boss

Yuga Labs, the company behind the Bored Ape Yacht Club (BAYC) and CryptoPunks NFT collections, has a new CEO: Daniel Alegre. The executive resigned as president and chief operating officer of the gaming giant company Activision Blizzard to join the NFT startup on April 1.  “Couldn’t be more excited for this next chapter,” he wrote on Twitter. Alegre was a key player in Activision Blizzard’s growth in the past years, overseeing popular gaming franchises like Call of Duty, World of Warcraft, Diablo, and Candy Crush. Today is my last day as…

Balaji Srinivasan’s $1M Bitcoin Bet Could Be Right, but I Hope He’s Wrong

First, why did the inflation hedge thesis lose credibility? Well, people saw inflation rising rapidly in late 2021 and early 2022, just as bitcoin’s price quickly fell. Ergo, bitcoin wasn’t an inflation hedge. Many critics of Bitcoin enjoyed carping about this, and the tl;dr of all of their articles and interviews was “I told you so.” But some bitcoiners, such as Steven Lubka, held to their conviction. We were experiencing price inflation due to systemic supply chain shocks caused by various factors, particularly the world reopening following COVID-19. There was…

March Bitcoin Mining Stats Show Climbing Revenue and Hashrate Highs – Mining Bitcoin News

boss

According to statistics, 4,498 blocks have been mined in the last 30 days, creating 28,112 new bitcoins over the past month. Bitcoin’s network hashrate has been around 341 exahash per second (EH/s) during the last 2,016 blocks or the last two weeks. This month, the mining pools Foundry USA and Antpool dominated the pack, accounting for 52.87% of the global hashrate in March. Bitcoin Mining Revenue Has Increased Month Over Month Since December Bitcoin miners had a decent month in March with revenues not seen since before June 2022. During…

Offchain Labs, team behind Arbitrum, locks over $3.7b of ARB for 4 years

New York-based Offchain Labs, the development team behind Arbitrum, a layer-2 scaling solution for Ethereum, has moved 2.679b ARB, worth over $3.7b, on-chain data on Apr. 1 indicates. The ARB transfer to a custodian According to Arkham Intelligence, an analytics firm, the large sum of ARB, making up 27% of the total supply, was moved on early Apr. 1.  Just 1 hour ago, $3.7B (that’s right – Billion) of $ARB was moved from the Arbitrum Foundation Multisig. It ended up at this new wallet, 0x1E7 – making 0x1E7 the holder…

DOGE Hits 9-Day High, as LTC Climbs 6% on Saturday – Market Updates Bitcoin News

boss

Dogecoin rose to its highest point in over a week, as Elon Musk requested that a lawsuit filed against him by investors in the meme coin be dropped. The suit claims that Musk operated a pyramid scheme, following his endorsements of dogecoin. Litecoin was another token to climb on Saturday. Dogecoin (DOGE) Dogecoin (DOGE) climbed higher on Saturday after lawyers for Elon Musk requested that a lawsuit filed against him by investors in the meme coin be dropped. In a statement, Musk’s lawyers said, “There is nothing unlawful about tweeting…

Latest court battle could alter crypto landscape in US

Regulatory trouble is nothing new for Binance, and on many occasions, in the past, it has managed to overcome or bypass such roadblocks and eventually work with regulators.  However, when it comes to the United States, the exchange has found itself in the cross-hairs of multiple agencies. A number of United States financial regulators have ongoing investigations against the crypto exchange. Some of these investigations date back to 2018, and now, one of the primary derivatives market regulators in the U.S. has filed a lawsuit in conjunction with its investigation…

Bitcoin Halving 2024 Is Just 1 Year Away and This Is Not April Fool’s Day Joke

The digital currency received a significant boost entering this year and despite the tough regulatory crackdowns and Fear, Uncertainty, and Doubt (FUD) that gripped the industry, the price of the cryptocurrency remained resilient.  The most significant event in the history of the Bitcoin (BTC) blockchain – the Halving event – is now slated for April 2024, implying that it is exactly a year away. While the timeline for this event is often known beforehand, the fact that April is here has increased the seriousness of the tracking of the halving…

Do algorithmic stablecoins have a future as centralized coins are under scrutiny?

boss

Binance’s native stablecoin — Binance USD (BUSD) — was the third-largest stablecoin pegged to the United States dollar, minted by blockchain infrastructure platform, the Paxos Trust Company, through a transfer of technology agreement between the two firms.  However, on Feb. 13, the New York Department of Financial Services ordered Paxos to stop minting any new BUSD tokens. The move came just days after the United States Securities and Exchange Commission issued a Wells notice alleging BUSD violates securities laws. Binance CEO Changpeng Zhao even predicted that regulatory clampdowns would force…