Day: September 27, 2023

Uniswap Foundation targets $62M in additional funding

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Decentralized exchange (DEX) Uniswap is seeking an on-chain vote to approve the second tranche of the $74 million funding for its developer Uniswap Foundation. According to the September 27 announcement, the second tranche of funding, with a buffer of 10% for price volatility, is worth an estimated $62 million and will be decided via an on-chain vote on October 4. If approved, the funds will be used for operations and research grants. The Uniswap Foundation is responsible for growing core protocol metrics, building a pipeline for innovation, and aligning incentives…

IBM, Microsoft, others form post-quantum cryptography coalition

IBM Quantum and Microsoft have formed a coalition to tackle post-quantum cryptography alongside not-for-profit research tank MITRE, U.K.-based cryptography firm PQShield, Google sibling company SandboxAQ, and the University of Waterloo. We’re proud to be a part of a new community of cybersecurity organizations to accelerate adoption of post-quantum cryptography in commercial & open-source technologies. Learn more about the #PQC Coalition. https://t.co/pSrFX1qPPB | #QWC2023 #UWaterloo pic.twitter.com/vXG6CilQVx — University of Waterloo (@UWaterloo) September 26, 2023 Post-quantum cryptography (PQC) addresses the potential threat posed by quantum computers of the future. Current cryptography schemes…

FTX Founder Sam Bankman-Fried Can Use an ‘Air-Gapped’ Laptop in Court, Judge Rules

The defense team has already lost two bids to have Bankman-Fried temporarily released since he was remanded, but has made another attempt, offering to impose strict conditions around the onetime FTX executive. Judge Kaplan set a 5:00 p.m. ET deadline today for the Department of Justice to comment on the request and scheduled a hearing to discuss the motion at 10:00 a.m. ET on Thursday. Source

Bitcoin Price (BTC) Slides Back Towards $26K as Nasdaq Falls on Rising Rates and Oil

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The declines came as the 10-year Treasury yield surged another nine basis points to a fresh 16-year high of 4.63%. Alongside the rise in interest rates, the price of oil was ahead by more than 3.5% to a new 2023 high of $93.53 per barrel. The term “stagflation” – suggesting a combination of slow growth and fast inflation in the economy – hasn’t been seen a lot since the 1970s, but quickly rising rates and oil prices are likely to spark an increase in usage. Original

How Ethereum Staking Stacks Up in the Proof-of-Stake Landscape

This constant stream of new staking participants — the current number of validators sits at about 800,000 — has been so substantial that it has even led some to propose a hard cap on the number of new validators that can enter the pool on any given day. The rationale being that the current “churn” limit of 12 new validators per epoch, (which equates to 2,700 validators, 86,400 ETH, or roughly $138,000,000 per day), is unsustainable long term. A queue controls how many can join at any given time and…

Ethereum-Based Altcoin Quietly Pulls Off 242% Rally This Month Amid Support from Crypto Exchange Gate.io

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One altcoin project has pulled off a more than 240% rally this month and secured a listing by a leading crypto exchange platform. The Loom Network (LOOM) kicked off September trading at a low of $0.038 and 25 days later soared to a high of $0.13, a 242% percent increase. LOOM has since retraced slightly and is trading for $0.11 at time of writing. Amid the strong performance, leading global crypto exchange Gate.io announced this week it was listing LOOM for trading. The Loom Network is a multichain interoperability platform…

Crypto Analyst Predicts Huge Double-Digit Breakout For Bitcoin Price

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The Bitcoin price has been trading sideways for a while now but this will not always be the case. While there is a chance that the price could end up swinging downward and crashing, a crypto analyst has predicted that a surge in the cryptocurrency’s price is on the horizon. Bitcoin Price Breakout Is Coming A crypto analyst who has grown to prominence on the TradingView site has put forward a bullish prediction for the Bitcoin price. The analyst who goes by the pseudonym Tolberti mapped out a yellow trend…

Terraform Labs Founder Do Kwon Opposes SEC’s Extradition Request

The document, filed on Wednesday in the U.S. District Court for the Southern District of New York, shows Kwon’s lawyers are opposing any opportunity for the stablecoin creator to offer testimony to U.S. regulators. The lawyers argue that it would be “impossible” to bring Kwon to the U.S. because he remains detained indefinitely in Montenegro. The former executive, they say, also cannot provide written testimony to the SEC because it would violate his due process rights under U.S. law. Source

Google Cloud Adds 11 Blockchain Networks Including Polygon, Optimism and Polkadot

GOOGLE BLOCKCHAIN: In a sign that big tech companies are nosing into blockchain, Google’s cloud-computing division is increasingly popping up in crypto news headlines, and top executives focused on Web3 are making the rounds with media. Last week, Google Cloud announced it would add 11 networks including Polygon, Optimism and Polkadot to its ‘BigQuery’ program for public datasets, originally set up for Bitcoin in 2018 and later expanded to additional chains including Ethereum, Litecoin and Dogecoin. “Over the past 18 months we’ve been investing in this space, we’ve continued to…

Sam Bankman-Fried will likely appear in a suit and tie at trial

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A federal judge has granted a motion from the legal team for Sam Bankman-Fried (SBF) allowing the former FTX CEO to wear business attire during his first criminal trial. In a Sept. 27 order filed in United States District Court for the Southern District of New York, Judge Lewis Kaplan said the United States Marshals Service and the Metropolitan Detention Center in Brooklyn would make arrangements for SBF to wear business attire for the duration of his criminal trial starting in October. Authorities will be responsible for “accept[ing] and maintain[ing]”…