Day: June 20, 2023

31% of young Aussies hold crypto despite being ‘risk averse’ — ASX survey

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Despite seeing themselves as more “risk averse” than their older counterparts, nearly a third of all young Australian investors hold or have traded cryptocurrencies over the last year, a new study has found. In an Australian investor study from the Australian Securities Exchange (ASX), 46% of “next generation investors” — the report’s terminology for investors aged 18 to 24 — described themselves as preferring “stable returns” — yet 31% of them invested substantially in crypto. Attitude towards investment risk by age group. Source: ASX. “The apparent financial conservatism of younger…

Binance’s BNB Chain introduces layer-2 testnet powered by Optimism

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Binance-founded layer-1 blockchain BNB Chain has introduced a new layer-2 chain it hopes to address its “scalability challenge.” On June 19, BNB Chain unveiled opBNB which launched as a testnet on June 19. The new layer-2 scaling solution is based on the Optimism OP Stack which it says will add additional security and scalability to the Binance blockchain network. The system is an Ethereum Virtual Machine (EVM) compatible layer-2 chain, which means it works with Ethereum-based smart contracts, networks, and ERC-20 token standards. Blockchains are often plagued by network congestion…

Australia’s crypto laws risk being outpaced by emerging markets: Think tank

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The Australian government needs to quicken its pace in developing crypto regulation or risk falling behind developing markets, according to the chair of a new crypto think tank. Loretta Joseph, chair of the Australian Digital Financial Standards Advisory Council (ADFSAC) — the newly launched policy institute under the ADC Forum — warned Cointelegraph that the country risks falling behind others when it comes to developing regulations. Earlier this year, Australia’s Treasury ran consultations for its “token mapping” exercise to help classify different crypto assets. A paper consulting on possible licensing…

Ethereum mulls increasing staking limit from 32 to 2,048 ETH for validators 

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Ethereum Foundation researcher Michael Neuder has floated a proposal to increase the maximum effective balance of Ethereum validators from the current 32 to 2,048 ETH. The change is expected to reduce staking infrastructure complexity for large validators and improve user experience if implemented.  Ethereum eyes staking limit increase  The minimum and maximum effective balances of Ethereum validators have been capped at 32 ETH since the network’s successful transition to the proof-of-stake (PoS) consensus mechanism last year.…

Bangladesh takes formal steps to join BRICS coalition

Bangladesh has made an official request to join the BRICS coalition, as reported by the Dhaka Tribune. This request was made after a meeting between prime minister Sheikh Hasina and the South African president Cyril Ramaphosa in Geneva last week. A formal application BRICS, an association comprising the most-developed emerging national economies, Brazil, Russia, India, China, and South Africa, which together boast a combined population of 3.1 billion people, representing around 40% of the world’s population. With a collective nominal GDP of $40 trillion, these countries contribute more than 20%…

Bitcoin reaches 50% market dominance for first time in 2 years

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Bitcoin (BTC) dominance, the measure of how much Bitcoin makes up of the total crypto market cap, has breached the 50% mark. On June 19 at 6 pm UTC, Bitcoin dominance hit just above 50% and has since settled to 49.9% at the time of publication, according to data from TradingView. This means that Bitcoin alone accounts for half of crypto’s total $1.1 trillion dollar market capitalization. Bitcoin’s current market capitalization stands at $519 billion, according to data from Coingecko. Notably, Bitcoin’s market dominance has surged by more than 10.5%…

Cyber heists in digital playground, school-age hackers steal millions in NFTs

The world of NFTs has fallen prey to an unexpected wave of school-age cyber bandits, orchestrating intricate phishing scams that have netted them millions in stolen assets. The digital finance platform Orbiter Finance was victimized last month when a false journalist impersonating an employee of a cryptocurrency news outlet deceived a Discord moderator. This ruse allowed the false journalist to gain control of the Discord server, limiting administrators’ abilities and preventing community members from messaging. The infiltrator used this control to promote a fictitious airdrop event, directing users to a…