Month: June 2023

Polygon 2.0 introduces upgrades to tap into ‘Value Layer’ of internet

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On June 12, Polygon Labs announced “Polygon 2.0,” a set of upgrades that seeks to establish the “Value Layer” of the internet, which the company says will allow users “to create, exchange, and program value.” 1/ Our vision for Polygon is simple: to build the Value Layer of the Internet. The Internet allows anyone to create and exchange information. The Value Layer allows anyone to create, exchange, and program value. Enter Polygon 2.0: a blueprint to build the ultimate Value Layer. pic.twitter.com/9eYSr3H1L5 — Polygon (Labs) (@0xPolygonLabs) June 12, 2023 According…

Ripple expands Canadian engineering activities with U of Toronto XRP validator

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The University of Toronto plans to launch an independent XRP Ledger validator, Ripple announced June 12 as the university will become part of Ripple’s University Blockchain Research Initiative (UBRI). The partnership will support blockchain and crypto technology research at the university. The partnership will also advance Ripple’s XRPL (XRP Ledger) Campus Ambassadors program that “aims to elevate the impact of college students […] [To] help educate other students about crypto and how to start building on the XRPL.” University of Toronto Professor Andreas Veneris commented: “Hosting an XRP Ledger validator…

SEC’s Temporary Restraining Order Would ‘Effectively End’ Binance.US Business, Company Claims

CryptoX – Cryptocurrency Analysis and News Portal In Monday’s filing, Binance.US‘s attorneys wrote that freezing its funds would “primarily harm BAM’s customers, effectively put BAM out of business, and prevent BAM from defending itself in this litigation,” as it could no longer pay its employees, vendors or other parties or even maintain its technology. Source The post SEC’s Temporary Restraining Order Would ‘Effectively End’ Binance.US Business, Company Claims appeared first on CryptoX. CryptoX Portal

Bitcoin on-chain data shows miners offloading BTC as revenues shrink

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Bitcoin’s on-chain data provides evidence that Bitcoin miners are offloading their holdings. The factors influencing the selling pressure could be reduced earnings from a cooldown in Ordinals activity as well as mining difficulty and hash rate reaching an all-time high.  According to on-chain analytics firm Glassnode, “Miners have been sending a significant amount of coins to exchanges.” Glassnode data shows Bitcoin (BTC) miners’ inflows to exchanges spiked to a three-year high on June 3 to levels last seen during the bull market of early 2021. Across the past week, #Bitcoin Miners have…

BLUR Underperforms CoinDesk Market Index Ahead of $62M Token Unlock

The token unlock, which will take place on Wednesday, will release almost 196 million tokens, representing nearly 40% of the currently circulating supply, according to data from CoinGecko and Token Unlocks. When this $62 million of tokens are released, owners of BLUR will get greater autonomy over their holdings, gaining the ability to sell or swap. Source

Lawmakers introduce bill to remove SEC chair — but do they have the authority?

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Members of the United States House of Representatives are pushing for ways to remove Securities and Exchange Commission (SEC) Chair Gary Gensler from his position, but the legality may be more complicated than a single piece of legislation. On June 12, Ohio Rep. Warren Davidson introduced the SEC Stabilization Act with the expressed intention of firing Gensler. The SEC chair has served as head of the commission since being sworn into office in April 2021, with a term expected to end in 2026.  While Davidson made serious allegations against Gensler…

Thailand launches retail CBDC pilot with 2 banks and Singapore payment service

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The Bank of Thailand will launch a retail central bank digital currency (CBDC) pilot project in a regulatory sandbox this month. Three payment providers will take part, according to local media. The project will involve up to 10,000 users and run through August. Bank of Ayudhya (Krungsri), Siam Commercial Bank and Singapore-based payments service provider 2C2P will partner with the Thai central bank on the project. Each of those organizations has made an app available to selected users that includes a wallet and a QR code scanner. Krungsri will enlist…

What the Reddit Boycott Has to Do With AI and Crypto

Crypto offers an alternative in that it requires buy-in from users, and makes the economic costs of online interactions explicit. This system may not fare any better, if it ever truly get going, but it might be nice to have the option of opting out. This is more than a boycott than a quiet revolution, which wants to empower users to pay their own way. And it may be more and more important, as even more of your data goes to AIs, which will, it’s almost inevitable, be trained to…