Month: February 2024

Axie Infinity Co-Founder Losses Over $10 Million In Hack, AXS Holds Firm

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Two personal crypto wallets belonging to Jeff “Jihoz” Zirlin, the co-founder of Sky Mavis, the company behind the popular play-to-earn (P2E) game Axie Infinity, have been compromised, reports on February 23 show. Following this hack, over $10 million worth of various crypto assets were stolen, primarily RON, the native token of Ronin Chain, the Ethereum sidechain designed explicitly for Axie Infinity. Axie Infinity Co-Founder Losses Over $10 Million In Hack According to Lookonchain data, the hacker got away with 3.2 million RON worth over $9.53 million. The co-founder also lost over $834,000 worth…

Cardano (ADA) Sees Critical Sell Signal: Analyst Raises Alarm

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In a recent technical analysis by crypto analyst Ali Martinez, known on social media as @ali_charts, a potential sell signal has been identified on the three-day chart for Cardano (ADA) against the US dollar. This analysis, shared on X on February 23, suggests caution among ADA traders due to the appearance of a bearish signal from the TD Sequential indicator. Martinez’s chart showcases the TD Sequential indicator presenting a ‘9’ signal, a classic sell indication that suggests the current trend may be exhausted and a reversal could be imminent. This…

In Lejilex vs. SEC, Crypto Goes on Offense in the Courts

But the best argument in favor of impact litigation is the industry’s track record in court. Last year, Ripple Labs scored a big victory over the SEC when Judge Torres declared that secondary sales of XRP were not securities transactions, among other important rulings. Similarly, Uniswap Labs won a thoughtful opinion from Judge Failla — who will also decide the Coinbase case — describing the nature of smart contracts and carefully distinguishing the protocol, user interface, software developers and token creators in determining liability. And Grayscale convinced a panel of…

Riot and Texas Blockchain Council Challenge US Government’s Bitcoin Mining Data Request in Court

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The publicly listed mining firm Riot Platforms and the Texas Blockchain Council have initiated legal proceedings against the U.S. Department of Energy (DOE) and other federal entities, aiming to obstruct what they deem an unauthorized data collection effort targeting the bitcoin mining industry. The legal battle underscores the escalating tension between bitcoin mining operations and […] Original

Chainlink Open Interest Sitting At Record Levels, What This Means For Price

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Chainlink has seen its open interest spike significantly in the month of February, so much so that it has reached new all-time highs. This trend has not waned despite the decline in the price of the cryptocurrency, which could paint a rather bullish picture for the LINK price going forward. Chainlink Open Interest Crosses $450 Million The Chainlink open interest ended the month of January on a high note and carried this trend into the month of February. A major jump was seen between January 31 and February 3 when…

Layer-1 Network Flare Raises $35M From Kenetic, Aves Lair

“Agreements over liquidity are excellent for a growing ecosystem,” said Flare co-founder Hugo Philion. “At this final anticipated liquidity event, I am very grateful to our early backers for continuing to be Flare’s biggest proponents and codifying a supportive, objective relationship aligned and beneficial to Flare’s growth.” Source

Uniswap (UNI) Jumps 60% on Proposal to Reward Token Holders in Major Governance Overhaul

Koen’s proposal is a significant development for the largest decentralized exchange by trading volume, marking a departure from last year’s initiative to reward token holders with accrued fees. Last June, the Uniswap community turned down a proposal that would have switched on fees for many of the exchange’s liquidity pools and distributed a part of the revenue among token holders. In an October move, the exchange started to charge a 0.15% fee on crypto swaps involving ETH, USDC and other tokens initiated on the protocol’s interface. Source

AI Analysis Launches The AIA Mastercard – The Future of Crypto-Fiat Transactions – Blockchain News, Opinion, TV and Jobs

Dubai, United Arab Emirates, February 23rd, 2024, Chainwire AI Analysis (AIA) proudly announces the launch of the AIA Mastercard, its groundbreaking Crypto-to-Fiat Card, in association with Mastercard. “It’s not just a card, it’s a revolutionary step in bridging the gap between cryptocurrency and real-world transactions, offering unparalleled convenience and freedom to our users” says Faisal Rahman, Chief Executive Officer of AI Analysis. “We are proud to be at the forefront of this revolution, providing users with a tool that not only simplifies but also elevates their financial transactions.”  Unmatched Spending…

Avalanche C-Chain Experiences Block Production Halt, AVAX Price Responds

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In a recent development, the Avalanche (AVAX) C-Chain encountered a significant disruption in block production, leading to a halt for over one hour. The interruption, which affected the primary network, was observed through the Avascan browser, with the last transaction recorded at block 42046853 (19:13 UTC+8). Although other subnets experienced a slight delay, the primary network faced the most substantial impact. Avalanche C-Chain Block Production Halt Ava Labs, the team behind the Avalanche protocol, acknowledged the issue and promptly initiated an investigation. According to Kevin Sekniqi, co-founder of Avalanche, the…

Siacoin Balloons To 65% in Value On Network Upgrades

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Siacoin (SC), the native token of the decentralized cloud storage platform Sia, has been on a tear in recent months, defying expectations and leaving investors wondering if the rocket ride can continue. After reaching a low of $0.0025 in mid-September 2023, the price skyrocketed a staggering 360% to peak at $0.0130 by January 24, 2024. While a 30% correction followed, wiping out those gains, the story didn’t end there. Siacoin defied bearish predictions, embarking on a new upward trajectory culminating in a new high of $0.0175 on February 21st, marking…