Day: June 8, 2023

DeFi Protocol Curve Finance Now Lets Users Mint crvUSD for Staked Ether

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Quantum miners would yield ‘massive’ energy savings for blockchain: Study

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A pair of scientists from the University of Kent’s School of Computing in the United Kingdom recently conducted a study comparing energy consumption rates for current ASIC-based miners to proposed quantum-based solutions. According to the team’s preprint research paper, the systems utilizing quantum computing demonstrably outperformed standard mining rigs in energy efficiency: “We show that the transition to quantum-based mining could incur an energy saving — by relatively conservative estimates — of about roughly 126.7 TWH, or put differently the total energy consumption of Sweden in 2020.” Bitcoin mining operations…

Crypto Custody Firm BitGo Reaches Preliminary Agreement to Buy Prime Trust: Sources

The need for safekeeping and storage of cryptocurrencies, particularly for institutional customers and high net worth individuals, has driven digital asset custody to prominence, with many flavors on offer and firms commanding high valuations. The issue has also drawn the attention of the U.S. Securities and Exchange Commission (SEC), which has put out proposed rulemaking on custody issues. Source

Optimism Says Ether $ETH Now Treated as Native Cryptocurrency Alongside $OP Token

“With Bedrock, we’ve added a new method of making deposits via the new Optimism Portal contract. This approach treats ETH as a native token, so that an L1 to L2 transaction can have both ETH and data associated with it,” said Maurelian. “To achieve this, we needed to decouple the storage of ETH from the rest of the ERC-20 tokens in our bridge, and move it into the Optimism Portal.” Source

Two Senators Allege Binance Crypto Exchange Lied to US Congress, Ask Justice Department To Investigate: Report

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Two US Senators are reportedly asking the Department of Justice (DOJ) to investigate crypto exchange Binance for allegedly lying to Congress. According to a new report by Reuters, Democratic Senators Elizabeth Warren of Massachusetts and Chris Van Hollen of Maryland recently penned a letter to the DOJ claiming that Binance, the largest crypto exchange platform by volume, gave misleading information to Congress. The Senators allege that Binance lied to a panel of bi-partisan lawmakers earlier this year who were gathering information from industry leaders as they weighed possible new regulations.…

How to find the next big altcoin before it pumps

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Join us as we discuss the best way to find the next big altcoins before they pump and what every trader should be doing right now. In this week’s episode of Market Talks, Cointelegraph welcomes Lark Davis, who has been actively involved in the world of cryptocurrency since 2017. He is a Bitcoin (BTC), crypto and stock investor and boasts over 1 million followers on Twitter and over 470,000 YouTube subscribers. In today’s discussion with Davis, we first get to know him a little better by finding out how he got…

EU Commission Partners With Blockchain Platform Protokol For Digital Educational Credential Project

The European Commission is making strides towards adopting blockchain technology to transform the verification process of educational and professional credentials across countries. In an effort to achieve this goal, the EU-funded EBSI Vector project has partnered with Protokol, a blockchain solutions provider. The collaboration aims to leverage blockchain technology in developing a credential verification solution. The goal is to simplify the process for EU citizens to have their educational and professional credentials recognized and accepted in different countries. According to Protokol CEO Lars Rensing, the objective of the collaboration with…

US Opposes Crypto Exchange Bittrex’s Customer Repayment Plan

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The United States has objected to a proposal by cryptocurrency exchange Bittrex to return customer cash and cryptocurrency as part of a process to window its operations in the country. Bittrex’s US arm filed for bankruptcy protection in May weeks after exiting the country over regulatory challenges. In the same month, the cryptocurrency exchange sought permission from the bankruptcy Bankruptcy Bankruptcy or insolvency constitutes a legal term and refers to being unable to repay debts. A business and a person can declare bankruptcy. When a person or company claims bankruptcy,…

Bitcoin rebound falters amid SEC crackdown on exchanges, raising chance of a BTC price capitulation

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Bitcoin (BTC) price lost steam after a failed retest of the $27,400 resistance on June 6, signaling that investors became less confident after the recent regulatory actions by the U.S Securities and Exchange Commission against Binance and Coinbase. Both exchanges are being sued on multiple counts, including failure to register as licensed brokers and offering unregistered securities.  The SEC might have a difficult case ahead According to Blockchain Association CEO Kristin Smith, the SEC is trying to circumvent formal rulemaking processes and deny public engagement. Meanwhile, Insider Intelligence crypto analyst…