Day: September 19, 2023

How Bitcoin miners can survive a hostile market — and the 2024 halving

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Only seven months remain before the next Bitcoin (BTC) halving in April 2024. It happens approximately every four years and is a deflationary process that cuts the production of new coins by 50%. Bitcoin’s halving is a high-profile event for crypto investors, and has historically led to an increase in Bitcoin’s price. However, its impact on the mining industry is a more complex issue. It reduces block rewards,  one of the primary revenue streams for miners. The 2024 halving will reduce it from 6.25 BTC to 3.125 BTC. That’s why miners…

Parents of Sam Bankman-Fried Sued by FTX Estate Over Allegedly Siphoning Funds From Crypto Exchange: Report

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The parental guardians of former FTX CEO Sam Bankman-Fried are reportedly being sued by the crypto exchange’s bankruptcy estate for allegedly misappropriating funds. According to a new article from the Financial Times, Joseph Bankman and Barbara Fried are being sued by the FTX estate over allegedly siphoning funds from the now-bankrupt exchange. Says prosecutors, “As early as 2018, Bankman described Alameda as a ‘family business’ — a phrase he repeatedly used to refer to the FTX Group.” However, Bankman and Fried’s lawyers say the allegation is “a dangerous attempt to intimidate…

Stellar To Release Protocol 20 Testnet Upgrade, Will XLM Rally?

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On September 20, Stellar, a blockchain platform designed to facilitate fast and low-cost cross-border transactions using its native currency, XLM, will release the testnet upgrade of Protocol 20. With this launch, the protocol prepares for the eventual mainnet activation of the Soroban smart contracts platform. Stellar Prepares For Protocol 20 And Smart Contracts According to a document on September 18, the testnet upgrade aims to release candidate versions of Stellar Core and Horizon. Stellar is a blockchain network and relies on a network of nodes for transaction validation and to ensure the…

55% of voters are likely to shun candidates opposing crypto

New research from Coinbase reveals that 55% of voters in pivotal U.S. states are less likely to support political candidates who oppose cryptocurrencies and web3 technologies. This data comes as part of Coinbase’s broader initiative to galvanize 52 million American crypto owners into a formidable political force. Coinbase data shows that 1 in 5 adults own crypto in America – it’s a group 52 million Americans strong. Polling in the fall of 2022 showed that in the key states of NH, NV, OH, and PA, over half (55%) of voters…

Bitcoin Sees Sudden Boost Amid Mt. Gox Rumors, But QCP Capital Targets $22,000

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The cryptocurrency market, notably dominated by Bitcoin, has always been a terrain of speculation and market sentiment. Rumors and speculations have surfaced with Bitcoin’s recent slight uptick in value. Market insiders point towards the potential delay of the Mt. Gox repayments as a key driver. However, QCP Capital, a crypto trading firm, remains skeptical about a sustained rally and holds a bearish outlook, indicating that global economic factors could play against the cryptocurrency. Mt. Gox Delay Rumors Fuel Bitcoin Rally Mt. Gox, the once-dominant Bitcoin exchange that faced a sudden…

Binance’s Bitcoin trading volume declined by 57% in September 

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Amid escalating regulatory scrutiny and legal challenges, Binance experienced a 57% drop in its weekly Bitcoin trading volume since the beginning of the month, signaling potential turbulence for the world’s largest cryptocurrency exchange. This downturn coincides with mounting legal challenges and increased regulatory oversight targeting the exchange on a global scale. Regulatory struggles continue for Binance The exchange has been grappling with a series of legal and regulatory setbacks, including lawsuits, license denials, and voluntary market exits. Authorities from the U.S. Department of Justice are said to be considering filing…

a16z welcomes applications for London-based Crypto Startup School

The venture capital firm a16z is now accepting applications for its Crypto Startup School (CSS) 2024 spring course, which is set to be held in London, the same city as its headquarters. According to a16z, participants of the 12-week accelerator program for early-stage companies will receive expert guidance, funding and resources from a16z crypto, in addition to the opportunity to meet industry founders and mentorship from web3 operators.  Interested applicants must be builders in developing crypto products or have an interest in learning programming languages like Solidity, which are prevalent…