Day: December 13, 2023

Enterprise blockchain Coti set to become Ethereum privacy-centric layer-2 in 2024

Enterprise-grade blockchain platform Coti is set to transition protocol to become a scalable, privacy-focused layer-2 on Ethereum in 2024. An announcement shared with Cointelegraph outlines how Coti will shift from a standalone protocol to an Ethereum layer-2 to bring its privacy features to the broader ecosystem. Coti V2’s features a cryptographic approach called garbled circuits, which allows transactions to be processed without exposing sensitive information and data. Drawing from the field of multi-party computation (MPC), garbling protocols enable two or more parties to jointly compute a function while keeping both their…

Revised BlackRock Bitcoin ETF Filing Invites Participation From U.S. Banks

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A change to the mechanics of BlackRock’s proposed spot bitcoin (BTC) ETF opens the door for Wall Street banks, which face restrictions holding cryptocurrencies, to play a key role. BlackRock recently made it so authorized participants (APs) – a vital part of the ETF ecosystem – will be able to create new fund shares with cash, rather than only with cryptocurrency. As highly regulated U.S. banks are unable to hold bitcoin themselves, this set-up would enable the likes of JPMorgan or Goldman Sachs – firms with some of the largest…

Large Holder Netflow Rises 1079% To 4.68 Trillion SHIB

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Shiba Inu has been going against the bearish trend recently, especially with the increased adoption of the Shibarium Layer 2 network. This time around, it is large holders who are driving the bullish return. Specifically, these large holders have increased their positive net flows by more than 10x. Shiba Inu Large Holder Netflow Jumps 1079% According to the on-chain data tracker IntoTheBlock, the Shiba Inu large holder net flow has seen a significant rise. These large wallets saw their net flow ( the total difference between inflows and outflows) rise…

Terrorism & Israel-Gaza war weaponized to destroy crypto – Cointelegraph Magazine

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The Israel-Gaza war has once again thrown the spotlight on crypto, with anti-crypto politicians seizing on exaggerated reports of crypto being used to finance terrorism to introduce harsh new legislation with the potential to crush the industry. Three days after Hamas carried out its brutal Oct. 7 attack, The Wall Street Journal published an inflammatory article stating that in the past three years, U.S.-designated terrorist organizations such as Hamas, Palestinian Islamic Jihad and Hezbollah had raised $134 million in crypto. The article — later corrected following an online backlash —…

BTC price clears $41K as Bitcoin digests US macro data on FED FOMC day

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Bitcoin (BTC) recovered above $41,000 at the Dec. 13 Wall Street open as eyes focused on the United States Federal Reserve. BTC/USD 1-hour chart. Source: TradingView PPI target beat comes hours before Fed rate move Data from Cointelegraph Markets Pro and TradingView showed BTC price strength gaining momentum on the latest U.S. macro data releases. November’s Producer Price Index (PPI) print came in below expectations, further bolstering the extant narrative of declining inflation. The Consumer Price Index (CPI) print, while less encouraging, did not induce fresh pain for risk assets.…

Worldcoin integrates with Shopify, Mercado Libre, Minecraft, Reddit and Telegram

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Worldcoin has launched a new version of its World ID feature, called “World ID 2.0″. According to a Dec. 12 announcement, the new version is integrated with Shopify, Mercado Libre, Reddit and Telegram, allowing users to prove their humanness on these platforms. World ID app integrations. Source: Worldcoin The announcement stated that the new app integrations add to existing ones, including Discord, Talent Protocol, and Okta’s Auth0. The new version also allows app developers to choose between different levels of authentication, ranging from “lite” to “max.” According to the announcement,…

Blockstream Preps New Sale of Notes Designed to Profit From Rebounding BTC Mining-Rig Prices

A pitch for the notes describes the investment strategy like this: “Leveraging Blockstream’s long track record, leading market position, substantial scale, broad expertise and strong relationships across the ASIC supply chain, the BASIC structure plans to acquire and warehouse new and unused ASICs at attractive prices, and to eventually strategically sell them back into the market as the industry rebounds within the next 12-24 months.” Source

Crypto exchange liquidity, explained

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Liquidity in financial markets The ease and speed with which assets can be bought or sold without materially altering their prices is referred to as liquidity in the financial markets.  It’s the ability to swiftly turn an asset into cash without significantly impairing its value. High liquidity indicates a healthy market with plenty of buyers and sellers, which promotes smooth transactions and stable prices. It ensures that investors can profitably enter into or exit positions, reducing transaction costs and the risks of abrupt price swings. Several variables, including trading volume,…

OKX Loses Over $400,000 To Hackers

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According to blockchain security company SlowMist, OKX DEX, a decentralized exchange aggregator platform, lost cryptocurrency valued at over $400,000. An attacker was able to transfer tokens that users had not allowed by compromising the management privileges of a market maker contract, according to the explanation for the vulnerability. On the OKX DEX aggregator platform, a deprecated proxy contract was the subject of a recent vulnerability that allowed a hacker to obtain administration access to the contract without authorization. OKX DEX: Deprecated Contract Raises Concerns When a protocol stops actively using…