Month: April 2023

Do Kwon Challenges SEC’s Jurisdiction in Multibillion-Dollar Crypto Securities Fraud Case – Bitcoin News

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Attorneys defending the co-founder of Terraform Labs, Do Hyeong Kwon, also known as Do Kwon, have presented their argument that says the U.S. Securities and Exchange Commission (SEC) has no jurisdiction in the matter. The legal team asserts that U.S. law precludes regulators “from using federal securities law to assert jurisdiction over the digital assets in this case.” Terraform Labs Co-Founder’s Legal Team Claims SEC Lacks Jurisdiction Over Digital Assets in Terra Case As per Bloomberg, Kwon’s lawyers have filed a motion to dismiss the lawsuit, citing that the SEC’s…

Digitoads may surpass ethereum classic’s market cap by 2025

The global cryptocurrency market is rapidly growing. While only a few crypto projects have what it takes to be at the top, a few, like digitoads (TOADS), have the potential to catalyze the decentralized finance (DeFi) ecosystem. Built on Ethereum, the DigiToads project merges three crypto models; a meme coin, a stake-to-earn ecosystem, and a play-to-earn (P2E) platform, to develop a dynamic cryptocurrency that can empower users. DigiToads: Bringing all of DeFi on one platform With DigiToads, users experience the utility of a meme coin. They can also try their…

Musk hints at suing Microsoft, US Rep wants Gary Gensler fired…

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Top Stories This Week Elon Musk threatens Microsoft with lawsuit, claims AI trained on Twitter data Microsoft has been threatened with a lawsuit from Twitter CEO Elon Musk, who claimed the Big Tech firm “illegally” trained its artificial intelligence on Twitter data. The entrepreneur suggested that Microsoft mined user tweets to train its AI-powered applications. Musk tweeted that it was “lawsuit time” after reports that Microsoft would cease supporting Twitter across its online social advertising tools. Musk and Microsoft are believed to be at odds over artificial intelligence. The tech…

FBI receive referral as sued YouTube star fails to attend court

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Following Ben “BitBoy” Armstrong’s refusal to attend a court hearing over his promotion of FTX, a defunct cryptocurrency exchange, a referral was made to the United States Federal Bureau of Investigation (FBI).  Moskowitz counseled the plaintiffs who sued many YouTubers, including BitBoy, for promoting FTX. Kevin Pavels is another influential figure in the case besides Brian Jung Graham, Stephen Tom Nash, and Erica Kuhlberg. However, Armstrong, an influential member of the cryptocurrency community and a YouTuber,…

Trust Wallet to reimburse users after $170,000 security incident

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Crypto wallet Trust Wallet disclosed a security vulnerability that resulted in nearly 170,000 losses for some users. The vulnerability has been patched, according to the company. Trust Wallet found out about the issue through its bug bounty program. A security researcher reported a WebAssembly (WASM) vulnerability in the open-source library Wallet Core in November 2022. New wallet addresses generated “between November 14 and 23, 2022 by Browser Extension contain this vulnerability,” said the company in a statement, adding that all addresses created before and after those dates are safe. 1/10…

Crypto AI Economy Suffers $730 Million Loss in 2 Months as Interest Wanes – Bitcoin News

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Less than two months ago, a collection of 74 listed cryptocurrencies centered around artificial intelligence (AI) amassed an impressive $4 billion valuation. However, the intervening weeks have seen a sharp decline in crypto-AI economy gains, with losses of $730 million. The three most prominent AI-driven crypto projects have all suffered double-digit losses, ranging from 10% to 29.58%, against the U.S. dollar over the last 30 days. Interest in the Combination of Crypto and Artificial Intelligence Has Declined, Crypto-AI Token Economy Sheds $730M Various data points suggest that interest in and…

Trust Wallet lost $170,000 to hackers, to reimburse victims

Trust Wallet, a popular crypto wallet owned by Binance, has disclosed a WebAssembly (WASM) vulnerability in its open-source library, Wallet Core, that affected some users. A security researcher reported the vulnerability through Trust Wallet’s bug bounty program in November 2022. According to an incident update shared by the company, the vulnerability only affected new wallet addresses generated by its browser extension between Nov. 14 and 23, 2022. The vulnerability could allow attackers to execute malicious code on the users’ devices and steal their funds. 1/10 Trust Wallet is built on…

Days after Shanghai, Ethereum developers readying for key EIP and Deneb upgrade

Over a week after implementing the Shanghai upgrade, Ethereum developers have set their eyes on the subsequent code changes affecting both the network’s execution layer (EL) and consensus layer (CL). Ethereum is undergoing a series of upgrades to improve its scalability, security, and functionality, and the latest upgrade, Shanghai, was activated on April 12. It introduced several code changes to the blockchain’s execution layer for processing transactions and smart contracts. According to Ethereum researcher Christine Kim, Ethereum developers are not resting on their laurels and have already begun plotting the…

Bitcoin Stamps Surpass 18,000 Collectibles, Creativity Takes Center Stage – Bitcoin News

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With the latest non-fungible token (NFT) trend on the Bitcoin blockchain, known as Bitcoin Stamps, users have issued more than 18,000 digital collectibles on the network. While this figure falls short of the number of Ordinal inscriptions, stamp creators are exploring new ways to leverage this technology. Number of Bitcoin Stamps Rises Above 18,000 A mere 17 days ago, Bitcoin.com News reported on the trend of Bitcoin Stamps, as more than 8,000 stamps had been minted on the Bitcoin blockchain. Since then, the tally has grown to 18,443 stamps. The…

Texas House of Representatives Passes Bill Mandating Proof of Reserves for Crypto Exchanges

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The Texas House of Representatives has voted to pass a new bill that would require crypto exchange platforms operating in the state to prove they have reserves to back up their assets. According to a new press release by The Chamber of Digital Commerce, a blockchain advocacy group, the Texas House of Representatives passed HB1666 on April 20th with the aim of rebuilding trust in the industry. The bill, which was first filed by State Representative Giovanni Capriglione, applies to crypto exchanges that serve more than 500 customers in the…