The fall of the Japanese exchange in 2014 saw 750,000 bitcoin go missing, putting crypto’s future in doubt. The event reverberates to this day. Original
The Legacy of Mt. Gox: Why Bitcoin’s Greatest Hack Still Matters
Day: May 4, 2023
What We Learned From Reporting 10 Years of Crypto History
Out of it emerges, not the story of a mechanical technology or the precision of math and cryptography, but of humanity itself, of its dreams, its dramas, its successes and, yes, its failures. CoinDesk’s 10 years of coverage uncovers the Shakespearean breadth of the crypto story. Source
Bitcoin drops with stocks as analyst warns of banking crisis ‘endgame’
Bitcoin (BTC) slid below $29,000 around the May 4 Wall Street open as United States equities showed jitters over the resurgent banking crisis. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView “Too much all at once” for U.S. banks Data from Cointelegraph Markets Pro and TradingView showed BTC/USD losing ground as the S&P 500 shed 0.7%. The risk asset comedown accompanied more mayhem for U.S. regional bank stocks, withe PacWest Bancorp once again leading the way, falling over 50% on the day. The embattled lender had already seen major losses, and…
Central Bank Digital Currencies (CBDCs) Are Unexpectedly Becoming a U.S. Presidential Election Issue
China is indeed the most visible champion of this technology. While the digital yuan is still far from ubiquitous in China, it still covers 13.6 billion RMB, 260 million wallets and 25 cities, according to Ananya Kumar at the Atlantic Council. It may not be so scary to think of a CBDC as one form of payment, co-existing alongside cash, stablecoins and decentralized cryptocurrencies like bitcoin. But China’s CBDC project is so ambitious that it’s not impossible to conceive of Beijing pulling levers to incentivize citizens to primarily rely on…
9 tips to help crypto companies choose and succeed with a banking partner
Choosing the right banking partner can be a particularly tricky process for a crypto or blockchain company. While there are many options in the market, only a few will possess the experience, commitment and risk tolerance companies in a young and tech-forward industry need. And simply making a choice won’t seal the deal: Crypto and blockchain entrepreneurs must have the detailed information banks will demand at their fingertips and be ready to reciprocate the transparency they themselves expect from a financial partner. There’s a lot of homework to be done…
Stronghold Digital to Add 400 PH/s Capacity Via 4K Bitcoin Miners From Canaan Subsidiary
The 2,000 A1246 and 2,000 A1346 miners will provide a total capacity of 400 petahash per second (PH/S), according to an emailed announcement on Thursday. The A1246 miners will be installed by May 15, while the A1346 miners will be installed by a month later. Source
ZkLink Raises $10M From Backers Including Coinbase Ventures
“zkLink plays a crucial role in shaping the future of the crypto landscape by leveraging the potential of ZK technology,” co-founder Vince Yang said in an email to CoinDesk. “For newcomers to the field, envision a scenario where DeFi trading delivers comparable user experience, efficiency, and speed as centralized exchanges, but also provides the advantages of being trustless and non-custodial.” Source 10MBackersBitcoinCoinbasecryptoexchangeExchangesIncludingRaisesVenturesZkLink CryptoX Portal
7 potential use cases of chatbots in banking
Chatbots are computer programs that use artificial intelligence (AI) to simulate conversations with users, providing quick and efficient assistance. In the banking industry, chatbots have the potential to revolutionize the way customers interact with their financial institutions. Here are seven potential use cases of chatbots in banking: Customer service Chatbots are increasingly being used in the banking industry to provide efficient and cost-effective customer service. Customers can interact with chatbots to get answers to their banking-related queries and resolve issues related to their accounts, transactions or products. Chatbots can also be…
Alchemy Ventures Backs $4M Seed Round for NFT Platform Vibe
“Real value for NFTs will come from the dynamism and programmability where creators can add unique features to their collections. Until now, they haven’t had a comprehensive tool to curate and customize their collections,” said Vibe founder and CEO Rachel Chu in a statement. “Our goal is to simplify the entire process, and we are confident in our mission of taking NFTs from pictures to products.” Source
Palm NFT Studio Launches Palm Generative Art Maker
The tool provides the infrastructure for artists to carefully craft their code, store it on-chain and produce a body of generative artwork. While the process has previously been challenging for creators without knowledge of coding, the tool simplifies bulk rendering, trait and rarity systems, and the generation of assets. In addition, the tool allows users to develop motion and static 3D assets, as well generate the text and metadata. Source