Day: April 7, 2023

Bitcoin Miner Sphere 3D Sues Partner Gryphon Digital

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The complaint, filed with the Southern District of New York on Friday, alleges Gryphon CEO Rob Chang wired 18 of Sphere 3D’s bitcoin to an address belonging to a fraudster who masqueraded as Sphere 3D’s chief financial officer in January, and another eight bitcoin to the same address a few days later. The lawsuit also alleges Gryphon provided “abhorrent” services to its partner and misrepresented Sphere 3D’s computing power as its own in public disclosures. Original

Twitter user claims CoinFactory created AGI, scam tokens

Recent concerns regarding AGI token have been expressed on Twitter by a user going by the handle @AegisWeb3 who claims it was developed by a platform with a history of producing fraudulent tokens. Scam token warning The tweet claims that CoinFactory, a platform that has purportedly produced 61 fake tokens in the past, launched AGI. The tweet also states that AegisWeb3, a tool that enables real-time monitoring of blockchain networks for shady behavior, found this information. The SingularityNET platform’s native cryptocurrency, AGI, attempted to establish a decentralized market for AI…

Twitter’s DOGE bet, Canada’s new crypto conglomerate, UK banking news

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Twitter CEO Elon Musk has made another marketing move to bridge the social media platform with the crypto community by switching its logo icon to the Shiba Inu dog — Dogecoin’s (DOGE) digital symbol. The move, however, seems to be more than just an engagement strategy. It comes just two days after Musk asked a judge to dismiss a $258 billion lawsuit alleging the operation of a pyramid scheme to promote Dogecoin.  Whether intended or not, the new icon led to another surge in DOGE prices during the week. A…

Reports Claim Chivo Bitcoin Wallet Is Flagging Wasabi Transactions in El Salvador – Bitcoin News

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According to several reports, the Salvadoran government-issued bitcoin wallet, Chivo, has been freezing wallets and requesting that owners verify the source of funds. The founder of El Zonte’s Bitcoin Beach stated that the government’s bitcoin wallet software is flagging and freezing wallets that receive transactions from Wasabi, a non-custodial bitcoin wallet that utilizes Coinjoin technology to obscure onchain transaction monitoring. Bitcoin Beach Founder Says Salvadoran Government Is ‘Bowing to U.S. Pressure to Thwart Privacy’ Bitcoin (BTC) is now legal tender in El Salvador, and the government offers infrastructure services such…

Decentralized exchange dYdX announces ‘winding down’ of services for Canadian users

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Cryptocurrency derivatives exchange dYdX has announced it will be restricting Canadian user accounts over the next seven days in a move to exit the market. In an April 7 blog post, dYdX said it will be “winding down services” in Canada, starting with halting the onboarding of new users located in the country. On April 14, the exchange will move all existing Canadian users to “close-only mode,” allowing them to only withdraw funds. “dYdX is committed to providing transparency around product decisions and democratizing access to financial opportunity,” said the…

Bitcoin derivatives favor further BTC price rally toward $30K

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Despite regulatory pressure and worsening macroeconomic conditions, Bitcoin (BTC) demonstrated bullishness holding near $28,000 for the past week. Furthermore, professional traders have maintained leveraged long positions on margin and in futures markets, indicating strength. On the regulatory front, on April 4, the Texas Senate Committee on Business and Commerce agreed to move forward and remove incentives for miners operating within the state’s regulatory environment. If passed, Senate Bill 1751 would set a cap on compensation for load reductions on Texas’ power grid during emergencies. Risk of recession grows against rate…

Ethereum projects launch MEV Blocker to protect users from high prices: Finance Redefined

Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you significant developments over the last week. A total of 27 Ethereum projects joined hands to minimize the cost incurred by users in the form of maximal extractable value (MEV). The launch partners include Balancer, Gnosis DAO, Shapeshift and StakeDAO, to name a few. Rugpulls in the DeFi ecosystem are nothing new, but in the first quarter of 2023, 73.3% of all rug pulls happened on Binance’s BNB Chain. The DeFi…

NFT marketplace LooksRare launches v2, reducing fees from 2% to 0.5%

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Nonfungible token (NFT) marketplace LooksRare has upgraded to version 2, reducing fees by 75% and implementing several other features, according to an April 6 announcement from the company. ! Rolled out rn:– Fee dropped to 0.5%– Gas 50% cheaper than Blur– One-signature bulk listing– Buy 70+ NFTs at once– Sellers get ETH instead of WETH Full deets https://t.co/3XXGeGK2r2 — LooksRare (@LooksRare) April 6, 2023 The LooksRare version 1 platform charged 2% per trade. This has been reduced to 0.5% in version 2. In addition, v2 has more gas-efficient contracts, allowing…

Conflux proposes deploying Uniswap v3, setting up $2M liquidity pool for CFX pairs

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Conflux, a regulatory-compliant public blockchain based in China, seeks to deploy the Uniswap v3 on its network, according to a proposal on Uniswap’s governance forum on April 7. The move comes days after the Uniswap v3 code license expired, enabling developers to fork the protocol and deploy their own decentralized exchange (DEX).  As per the proposal, the deployment would provide “access to millions of potential new users, particularly in the Chinese and Asian markets.” According to Conflux, its network experienced a spike in traffic in the first quarter of 2023.…

Snoop Dogg Sports Blinged-Out Crypto Hardware Wallet at Wrestlemania 39 – Bitcoin News

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Four days ago, the American rapper, entrepreneur, and owner of Death Row Records, Snoop Dogg, hosted WWE’s annual event, Wrestlemania 39, in Hollywood. The rap star was spotted wearing a gold and black diamond Ledger Nano X around his neck on a gold chain. Over the last year, Snoop has been one of several hip-hop artists showing off their custom-made and blinged-out cryptocurrency hardware devices. Snoop Joins Several Rappers Sporting Custom Crypto Hardware Wallets Over the weekend of April 1-2, 2023, Snoop Dogg hosted WWE’s 39th Wrestlemania event, featuring Cody…