Day: December 12, 2023

Crypto community voices skepticism of Elizabeth Warren’s crypto bill

The crypto community is up in arms over the U.S. Senator’s attempt at introducing a bill skeptics say is aimed at curbing cryptocurrency growth and innovation. With the crypto community on edge after a tumultuous year that has seen the insolvency of FTX and problems at Binance, regulatory winds could well be on the horizon. U.S. Senator Elizabeth Warren has introduced a new bill aimed at regulating cryptocurrency. On Dec. 11, Warren introduced what is dubbed the Digital Assets Anti-Money Laundering Bill. The has already received support from several over…

Ethereum scaling firm =nil; Foundation introduces security-focused zkEVM

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Zero-knowledge technology firm =nil; Foundation has developed a new type-1 zero-knowledge Ethereum Virtual Machine (zkEVM) compiler to address security concerns identified in similar ZK-powered Ethereum scaling solutions. Speaking exclusively to Cointelegraph, =nil; Foundation CEO and co-founder Misha Komarov says the technology prioritizes security and allows high-level programming code to be compiled automatically into Zero-Knowledge Succinct Non-Interactive Argument of Knowledge (zk-SNARKS) circuits. The firm’s zkEVM is designed to be compatible with evmone, which is a C++ version of Ethereum’s base execution environment. The key takeaway is that the code of applications…

StarkWare Distributing $3.5M Fees to Developers in ‘Devonomics’ Program

According to a press release, about 10% of the network fees from the project’s launch through Nov. 30 – amounting to about 1,600 ETH – will be distributed, intended to support the Starknet ecosystem. In time, future distributions will occur in STRK, the native governance token of the Starknet blockchain. Currently, 8% of the fees will go to builders of decentralized applications, or “dApps,” while the remaining 2% will go to Starknet core developers. Source

Q Protocol to Apply International Court of Arbitration Rules to DeFi Disputes in a Sign of Growing Industry Maturity

“The participants in the Q ecosystem (13 projects have signed on to use the services) are parties to the private contract that is the Q Constitution,” Biagosch said. “They have agreed therein that the ICC Court of Arbitration shall, based on the Q Constitution and through its rules of procedure, be the only mechanism to resolve disputes, instead of and alternative to nation-state court systems.” Source

KuCoin to Pay $22M, Exit N.Y. to Settle NYAG Lawsuit

Kucoin will refund $16.77 million to New York customers and pay $5.3 million to the Attorney General of the State of New York to settle charges it violated securities laws by offering tokens – including ether – that meet the definition of a security without registering with the attorney general’s office. Source

BlackRock’s (BLK) BTC ETF Now Invites Participation From Wall Street Banks

“If the SEC accepts this revised, dual model of create and redeem with cash and physical, that means the liquidity that supports the ETF shares when they trade would be increased, because obviously, you have more potential APs as part of the process,” CF Benchmarks CEO Sui Chung said in an interview. (CF Benchmarks is the Kraken-owned benchmarks administrator for several existing spot bitcoin ETF applications, including BlackRock’s.) “And although trading firms like Jane Street, etc. are large and are experts, they fundamentally don’t have the trillion-dollar plus balance sheets…

‘Take some rest and GO’ — Bitcoin price copies 2020 bull run fractal

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Bitcoin (BTC) should not worry traders after the biggest one-day drop of 2023 if one chart fractal plays out. In a post on X (formerly Twitter) on Dec. 12, popular trader Alan Tardigrade revealed uncanny similarities between Bitcoin now and four years ago. Bitcoin “repeating” post-COVID uptrend Bitcoin may be struggling to clear key long-term resistance, but one comparison suggests that it is “business as usual” for BTC price action. Uploading a chart fractal from late 2019 through mid-2021, Tardigrade highlighted a Bitcoin bull market blueprint, which is now making…

Coinbase (COIN) Debuts Digital-First Capital Platform ‘Project Diamond’ Built on Base

“Tokenization is an important first step, but the natural conclusion is a transition to digitally native assets,” Shaun Martinak, head of infrastructure development, Coinbase Asset Management, said in an email. “Instead of tokenizing off-chain assets, this digitally-native debt instrument was created and matured fully on-chain, with an automated lifecycle that takes full advantage of next-generation infrastructure.” Source

Crypto Analyst Expects 200% Jump As Critical Support Forms

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Crypto analyst Egrag has provided insights into the current market conditions of the XRP price from a technical analysis perspective. He highlighted a critical support level for the crypto token and also reasserted his bullish prediction for XRP when the bull run returns.  XRP Could Rise To $2 From This Support Level In a post shared on his X (formerly Twitter) platform, Egrag mentioned that XRP could rise to as high as $2 once it is able to hit the support level of $1.2. He shared an accompanying chart to…