Day: August 23, 2023

Shopify to accept USDC payments with Solana: Report

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E-commerce giant Shopify has added Solana Pay to its pool of options for payment, allowing millions of merchants to use the platform to accept crypto transactions, kicking off with USD Coin (USDC) stablecoin payments.  According to TechCrunch, Solana plans to add other altcoins to the platform in the coming months, including its native token Solana (SOL) and the meme token Bonk Coin (BONK). Josh Fried from Solana Labs branded the intersection of digital assets and payment solutions as the “killer app for crypto,” adding that “[Everyone] should be doubling down…

This Bitcoin Indicator Is On The Verge Of A Bullish Breakout

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A Bitcoin on-chain indicator is currently attempting a breakout that could turn out to be a bullish signal for the asset’s value. Bitcoin Active Entities Is Trying To Escape Network Stagnation Range In a new post on X, Jamie Coutts, a Bloomberg Intelligence analyst, has discussed the BTC active entities metric, and how it has a strong relationship with the coin’s price. The “active entities” here are a measure of the unique total amount of Bitcoin addresses that are participating in some kind of transaction activity on the blockchain. Naturally,…

Sam Bankman-Fried’s lawyers argue previous FTX legal team led him to act ‘in good faith’

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Lawyers currently representing Sam Bankman-Fried, or SBF, for his criminal case in the United States plan to elicit evidence the former CEO acted “in good faith” on advice of previous counsel in regard to his alleged actions at FTX and Alameda Research. In an Aug. 23 filing in the U.S. District Court for the Southern District of New York, SBF’s legal team said Fenwick & West, the law firm that formerly represented cryptocurrency exchange FTX, provided certain legal advice to the firm of which Bankman-Fried had been aware. According to…

Libertarian Bitcoin Advocate Javier Milei’s Surprise Election Victory Amidst Digital Asset Volatility and Global Economic Shifts

When we hear that “Bitcoin is too risky,” as citizens of the U.S. and as holders of dollars we must remember that this simple statement comes from a position of substantial privilege, specifically “exorbitant privilege.” First termed by French Finance Minister Valéry Giscard d’Estaing in the 1960s, exorbitant privilege refers to the unique benefits that the U.S. enjoys due to the widespread use of the dollar in international trade, finance and as a global reserve currency. Some of the benefits from the global ubiquity and near-insatiable demand for dollars are…

FBI identifies six Bitcoin addresses controlled by North Korean hackers

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The US Federal Bureau of Investigation (FBI) has identified six Bitcoin (BTC) wallets with over 1,500 BTC that’s reportedly connected to the Lazarus Group, a hacking group allegedly sponsored by the Democratic People’s Republic of North Korea (DPRK).  Lazarus Group, the agency said, moved about 1,580 BTC, worth nearly $41 million, from several crypto heists to six Bitcoin wallet addresses. They also added that the group may look to liquidate and asked crypto exchanges to be…

China launches blockchain-powered data exchange

During the 2023 Hangzhou Summit held in Hangzhou, China, a new data exchange powered by blockchain technology was unveiled by government officials. Over 300 enterprises, including Alibaba Cloud and Huawei, participated in the exchange’s debut. According to local news reports on Aug. 23, the new Hangzhou Data Exchange will facilitate the trading of enterprise information technology data using distributed ledger technology. Officials say the platform would ensure exchange trades are immutable and traceable. Chen Chun, director of the National Laboratory of Blockchain and Data Security, commented:  “[The Hangzhou Data Exchange]…

Multichain victims search for answers in $1.5B exploit as new evidence emerges

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On July 14, developers of the $1.5-billion Chinese cross-chain protocol Multichain confirmed users’ worst fears. The protocol’s CEO, identified only as “Zhaojun He,” was arrested by Chinese authorities in Kunming on May 21 after months of repeated denials on official communication channels. Also allegedly arrested was Multichain’s core team, which was operating in Shanghai.  It was never disclosed why Zhaojun had been arrested or what the charges were. However, evidence suggests that Multichain funds may have been seized as part of an anti-money laundering operation in the context of a…