Month: May 2023

Over $3.6b of ethereum ready for Beacon Chain staking

UltraSoundMoney data on May 20 shows that two million ethereum (ETH), worth roughly $3.6b, is ready to be staked to further beef up the Ethereum network security. Enough ETH to “51% attack” Bitcoin This sizable reserve has inspired fascinating hypotheses, including the prospect of using this ethereum stockpile to carry out a 51% assault on the Bitcoin network. Hypotheses have also centered on the likelihood of the reserve being used to purchase more bitcoin (BTC). Because ethereum and bitcoin use separate blockchains and different consensus procedures, it is not feasible…

Zilliqa integrates and makes EVM native, launches Ethereum Bridge 

Zilliqa, a high-performance, proof-of-stake blockchain using a unique sharding mechanism, is now compatible with Ethereum. Zilliqa is EVM compatible In an update on May 19, Zilliqa said they have integrated the Ethereum Virtual Machine (EVM) on the mainnet, making the machine native to their blockchain. Because of this incorporation, Zilliqa said the development is a massive step and would increase the number of developers working on its rails. Considering the interoperability with Ethereum, which is by far the most active smart contracting platform by total value locked (TVL), Zilliqa developers can now…

Comparing STEM and Chiliz projects

STEM (STEMX) and Chiliz (CHZ) offer different approaches to using tokens for the sports industry.  Let’s look at them in more detail. Chiliz, whose native token is CHZ, creates fan tokens for sports teams, the price of which is formed solely on market demand. In other words, the price of fan tokens of football clubs is shaped by the market forces of supply and demand at auctions, i.e., interest from fans and traders at a particular time. These are classic crypto assets like many others. It’s just that each token…

Wife finds husband’s Bitcoin stash amid divorce proceedings

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The divorce proceedings of a New York couple took a turn after a forensic accountant helped track down the husband’s 12 Bitcoin (BTC) stash, which he intended to hide from his wife. The couple in question were married for 10 years, but the man’s wife suspected that her husband did not reveal all his assets, which would get split between the two following their divorce. The housewife — addressed pseudonymously as Sarita — revealed to CNBC that her husband was earning $3 million annually, which was not reflective of his…

Attacker Takes Over Tornado Cash DAO With Vote Fraud, Token Slumps 40%

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Influencer served settlement demand via NFT, following $7M token presale

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A nonfungible token (NFT) influencer has been served with a settlement demand via NFT – which casually dropped the “F bomb” several times – alleging that the influencer engaged in wire fraud “at a minimum,” on a recent $7 million token presale. Lawyer Mike Kanovitz, a partner at Loevy & Loevy, took to Twitter on May 20 to state that a settlement demand letter has been served as an NFT to the wallet address associated with the alleged influencer known as ‘Ben.eth,’ whose real identity remains undisclosed. He alleged that…

US Presidential candidate Vivek Ramaswamy to accept Bitcoin for campaign donations

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Vivek Ramaswamy becomes the second Presidential candidate in the United States to officially accept Bitcoin (BTC) donations for the upcoming 2024 elections.  “Give $1,” said Ramaswamy while announcing that he was accepting Bitcoin donations. The revelation came just two days after Robert F. Kennedy Jr. became the first presidential candidate in United States history to accept campaign donations in Bitcoin. Ramaswamy stated, “Let’s make the 2024 election a referendum on fiat currency.” US Presidential candidate Vivek Ramaswamy announcing accepting Bitcoin donations. Source: Facebook As shown above, Ramaswamy flashed a QR code…

Bitcoin set to ‘tick, tick, tick’ by the end of 2023: DeFi exec

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Bitcoin (BTC) is poised to claim the cryptocurrency throne by the end of 2023, as its superiority “is going to be clear” in every aspect, according to Fedi’s CEO. During the Bitcoin 2023 event in Miami on May 20, Cointelegraph reporter Joe Hall interviewed Obi Nwosu, the CEO and co-founder of Fedi – a Bitcoin community custody protocol that offers an alternative solution for those who lack access to or don’t trust centralized exchanges. Catching up with homies is the best part of conferences. @obi @FelixWeis taking the picture! Known…

Attacker hijacks Tornado Cash governance via malicious proposal

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Adding to the existing roadblocks of the decentralized crypto mixer Tornado Cash, an attacker managed to gain full control of the governance through a malicious proposal.  On May 20 at 3:25 ET, an attacker successfully granted 1.2 million votes to a malicious proposal. Given that the proposal received more than 700,000 legitimate votes, the attacker gained total control over Tornado Cash governance. On 2023/05/20 at 07:25:11 UTC, Tornado Cash governance effectively ceased to exist. Through a malicious proposal, an attacker granted themselves 1,200,000 votes. As this is more than the…

Hyperbitcoinization is underway, RFK seeks Bitcoin donations…

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Top Stories This Week Hyperbitcoinization coming, says Bitcoin OG as ‘wholecoiners’ hit 1 million Bitcoin has crossed a significant threshold this month — there are over 1 million addresses that hold at least 1 BTC. Data from Glassnode shows an escalating pattern with regard to the amount of so-called Bitcoin “wholecoiners.” If the trend continues, Bitcoin price escalation could soon make buying it not only a luxury but something potentially unattainable altogether, according to Adam Back, co-founder and CEO of Bitcoin firm Blockstream. This hyperbitcoinization refers to the moment when…