Month: April 2023

22,550,000,000 Shiba Inu and Other Crypto Assets Stolen From Bitrue Exchange in Massive Hack: PeckShield

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Tens of billions of Shiba Inu (SHIB) tokens and other digital assets have been stolen from crypto exchange Bitrue in a massive multi-million-dollar exploit. In a new announcement, Bitrue says that hackers were able to exploit a hot wallet to steal about $23 million worth of crypto assets, including Ethereum (ETH), and ERC-20 tokens such as meme asset SHIB, interoperable blockchain Quant (QNT), metaverse gaming platform Gala (GALA), layer-2 scaling solution Polygon (MATIC) and decentralized application (DApp) marketplace Holochain (HOT). “We have identified a brief exploit in one of our…

Elon Musk, a dogecoin supporter, reportedly building new AI company called X.AI

Elon Musk, the technology billionaire and dogecoin (DOGE) supporter has reportedly incorporated a new artificial intelligence (AI) firm called X.AI Corp. in Nevada, United States. The company, established on March 9, has Musk as its director and Jared Birchall, Musk’s family office director; as secretary. According to the company’s articles of incorporation, the sale of 100m shares has already been approved. Speculations about the new AI company The news comes after days of speculation that Musk was planning to launch an AI company. A series of actions by the billionaire…

Musk Mulls AI Startup to Rival Chatgpt Maker Openai, Report – Technology Bitcoin News

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Entrepreneur Elon Musk is preparing to launch a startup that will compete with Openai, the creator of Chatgpt, a media report unveiled. According to quoted knowledgeable sources, the owner of Twitter and Tesla is already assembling a team of developers and talking to investors. Elon Musk Reportedly Working to Establish Openai Rival, Registers X.AI Corp Tech investor Elon Musk is putting effort into founding a startup that will rival the company behind the Chatgpt artificial intelligence (AI) assistant, Openai, the Financial Times revealed on Friday, citing people familiar with the…

Crypto traders and investors in the US unperturbed by volatility, research shows

A recent Pew Research finding shows that most veteran cryptocurrency traders and investors in the U.S. are holding on, closely monitoring the industry despite the recent crypto winter, which disillusioned holders and new participants. Veteran crypto traders remain holders In a report published on April 11, researchers discovered that only 31% of those surveyed, or three-in-ten adults who have somehow engaged in cryptocurrency assets through trading, investing, or holding, liquidated their coins. However, a majority, or 69% of those surveyed, still own cryptocurrencies. Notably, holders in lower-income households, representing 43% of those…

Zipmex’s Investor Requests Fractional Debt Payment, Creating Challenges for Crypto Exchange’s Rescue Plan

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Zipmex’s investor is requesting to pay only a fraction of the crypto exchange’s debt, contradicting their previous pledge to make a full payment. This new proposal, which is between 10 to 20 percent of the owed amount, poses challenges for the company’s rescue plan. As a result, Zipmex is seeking to extend its creditor protection to attract new investors. According to a letter sent to the crt overseeing Zipmex’s restructuring, the investor seeks to reduce the payment because the company failed to meet the conditions stated in the initial buyout…

Arbitrum proposal to return 700M ARB fails, whale calls it a “power play”

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A controversial proposal seeking the return of 700 million ARB governance tokens to Arbitrum’s DAO Treasury was rejected by a massive number of votes on April 15. The Improvement Proposal AIP-1.05 was introduced after the Arbitrum Foundation transferred funds without community approval in March.  The AIP-1.05 was defeated by 118 million votes, representing 84% of the total votes received, while 21 million ARB tokens voted for the proposal, nearly 14.5% of the total. Around 2 million ARB tokens abstained. The proposal asked the Foundation to return the tokens as a “symbolic…

Investors can consider digitoads, GMX, and chainlink for passive income opportunities in 2023

The cryptocurrency market has been rapidly expanding, and investors are always searching for opportunities. Investors can look at digitoads (TOADS), GMX, and chainlink (LINK) as possible avenues for passive income in 2023. In this article, we will explore each project and why it may offer opportunities for investors. DigiToads: Earn passive income DigiToads is a platform combining meme coins’ appeal with the utility of a play-to-earn (P2E) gaming platform. By incorporating non-fungible tokens (NFTs) and NFT staking, DigiToads offers users a way to earn passive income. The deflationary nature of…

Liquid Staking Protocols See Increase in Monthly ETH Deposits Despite Withdrawals Post-Shapella Hard Fork – Defi Bitcoin News

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Following the Shapella hard fork on April 12, 2023, approximately 332,368 ether, valued at around $699 million, has been withdrawn. Despite these withdrawals, liquid staking protocols like Lido, Rocketpool, and others have experienced an increase in ether deposits over the last 30 days. Since March 14, a total of 281,498 ether worth $592 million have been added to these protocols. TVL in Staked Ether Accounts for Over 30% of Defi’s Locked Value, With Lido Leading the Pack As of April 15, 2023, there’s $53.68 billion total value locked (TVL) across…

Fight between crypto and governments “just getting started”, says ShapeShift CEO

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Despite the unprecedented regulatory pressure that crypto has been facing recently in the United States, the fight between the American government and the crypto industry has just started, believes ShapeShift CEO Erik Voorhees.  According to the entrepreneur, U.S. authorities still don’t see crypto as an existential threat to the fiat system, and their recent crackdown is just an opportunistic reaction to last year’s blowups of fraudulent crypto companies.  “They see it as sort of this scammy area where they can come in and look like the hero for cleaning up…

About 300k ethereum withdrawn since Shanghai upgrade

Data analysis indicates that about 300,000 ETH have been withdrawn in the hours that followed the Shanghai upgrade.  Withdrawals ensued after the Shanghai upgrade The Shanghai upgrade was completed on April 12, with millions of ETH freed from the liquidity lockers. In the hours following the upgrade, there have been significant withdrawals of ETH.  Token unlocks data indicate that in the past 40 hours following the upgrade, about 292,000 ETH was already withdrawn. Interestingly, the number has been surging recently. Based on the data, about 30 hours after the upgrade,…