Month: July 2023

Bitcoin hashrate reaches new all-time high

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Bitcoin mining activity is increasing globally as market participants pump fresh capital into their businesses. While the leading United States-based bitcoin (BTC) miners, such as Marathon Digital Holdings, recorded a significant decrease in their BTC output during June due to unfavorable weather conditions, that narrative changed for the better in July. Per data released by Hashrate Index, a resource for bitcoin mining data and more, bitcoin’s 7-day and 3-day hashrate reached new all-time highs over the…

Bitcoin trades $2.2k cheaper on Binance.US

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Bitcoin enthusiasts have a unique opportunity on Binance.US, where the popular cryptocurrency is sold at a substantial discount of nearly $3,000 compared to global spot prices. Known as a “depeg,” this unusual circumstance has captured the crypto community’s attention. Bitcoin’s price on Binance.US, in U.S. dollars, as of July 10 was $27,753. In comparison, bitcoin’s current spot price worldwide is $30,147, representing a difference of over 8.5%. Bitcoin price on Ethereum is trading $200 cheaper on…

Tom Brady faced millions in losses from FTX’s collapse

In a stunning turn of events, former NFL quarterback Tom Brady faces financial turmoil after losing a staggering $30 million in the collapse of cryptocurrency giant FTX.  The now-worthless shares were part of Brady’s arrangement with FTX in 2021 when he was still an “ambassador” for the firm. Gisele Bundchen, his ex-wife, lost $18 million on worthless stock investments. Since FTX declared bankruptcy in November last year, Brady has suffered significant financial losses and faces legal trouble due to the company’s demise. After divorcing in October, Brady and Bundchen are…

Vitalik Buterin wants Bitcoin to experiment with layer2 solutions just like Ethereum

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Ethereum co-founder Vitalik Buterin believes the Bitcoin network needs scalable solutions like the zero-knowledge (ZK) rollups to become more than another payment network. Buterin’s comments came during a Twitter space hosted by Bitcoin developer Udi Wertheimer with discussions revolving around Ethereum’s scaling experiments. A ZK-rollup chain is an off-chain protocol that operates on top of the Ethereum blockchain and is managed by on-chain Ethereum smart contracts. It offers a more scalable and faster way to verify transactions without sharing critical user information. The Ethereum co-founder shed light on how Ethereum…

Bitcoin aligns with Swiss values

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Switzerland has long been a haven for the wealthy due to its well-established banking secrecy laws, but its citizens have warmed quickly to the self-sovereign ideals behind Bitcoin (BTC). Giw Zanganeh, head of Lugano’s Plan ₿ initiative, highlighted the growing use of Bitcoin for everyday payments in the Swiss city in conversation with Cointelegraph journalist Joe Hall at the Plan ₿ Bitcoin Summer School. Giw Zanganeh, head of Lugano’s Plan ₿ initiative, chats to Cointelegraph’s Joe Hall at the  Plan B Summer School in Lugano. Lugano has emerged as an…

BTC Price Holds Above $30K as China Factory Price Data Points to End of Global Liquidity Tightening Cycle

“China is exporting disinflation across the western world,” David Brickell, director of institutional sales at crypto liquidity network Paradigm, told CoinDesk. “We’re seeing it reflected in producer price inputs, but not yet fully feeding into consumer prices. Ultimately this will be good for risk as it relates to the end of the global hiking cycle.” Source

15 Retail CBDCs Possible by 2030, BIS Study Says

“Global work on CBDCs has made further progress” since last year, the report said, with the work particularly intense in emerging economies where it’s seen as a way of helping unbanked people. “If issued, retail CBDCs can be expected to complement and coexist with other domestic payment methods.” Source

Scammers exploit Threads launch, impersonating crypto Twitter users

Threads, Meta’s newly launched microblogging app, has become a target for scammers wasting no time trying to deceive users. The platform has already drawn the attention of several influential Crypto Twitter users, who are sounding the alarm about imposter accounts lurking on Threads. On July 8, decentralized finance platform Wombex Finance shared an image of an imposter Threads account pretending to be associated with their project. Wombex Finance promptly alerted users, cautioning them that scammers could potentially operate the account since their project was not present on the Threads platform.…

Here’s what SOC 2 compliance audits mean for crypto projects

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While a series of global incidents severely damaged trust in the crypto space, some still hope to regain this trust by going through processes that assure compliance with certain business standards, like the proper handling of customer data.  Several firms have published press releases to announce their compliance with the service and organization controls (SOC) 2 type 2 audit, which was created to attest to the security and data-handling prowess of their firms. To learn more about what this type of security audit means for the industry, Cointelegraph reached out…