Month: April 2024

Thai Crypto Exchange Bitkub May Be Valued as High as $3B in IPO: CEO

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated. CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as…

Analyst Predicts SOL Bounce Amid Network Congestion

boss

Solana (SOL) faced difficulties the past week after the network’s transaction failure rate reached over 75%. Since then, Solana’s core contributors have been working to find the congestion problems. SOL’s price tumbled 7.8%, and users seemed worried about the network’s state. Despite this, some analysts predict a more optimistic performance for SOL soon. Is Solana Poised For A Bounce? According to crypto analyst Bluntz, Solana’s drop has reached its bottom. When the news of network congestion broke, the analyst predicted that SOL’s price would likely fall to $160 before seeing a…

Building Botanix, a Bitcoin Layer 2 That Brings the EVM to Bitcoin

boss

That is a very good question. I was actually a proof-of-work maximalist before designing the spiderchain, but I realized that a proof-of-work on a second layer actually doesn’t make a lot of sense. So, I looked into proof-of-stake and read all the different white papers. In 2022, when Ethereum merged to proof-of-stake, there were a lot of Bitcoiners, including Jack Dorsey, who were retweeting this article about why proof of stake is insecure. So, I read the article. Each of the arguments in it were actually solved if you build…

Circle Unveils Smart Contract Service for Blackrock BUIDL Holders to Convert to USDC

On Thursday, the financial technology firm and stablecoin provider Circle introduced smart contract capabilities aimed at enabling holders of the Blackrock USD Institutional Digital Liquidity Fund (BUIDL) to exchange their shares for USDC through Circle. Circle Provides BUIDL Off-Ramp This week, Circle announced it is providing a redemption pathway for BUIDL holders through USDC. BUIDL, […] Source BitcoincryptoexchangeExchanges CryptoX Portal

Avi Eisenberg May Testify in $110M Crypto Fraud Trial, Defense Says

The 28-year old crypto trader could face as much as a 20-year prison sentence if the 15-person jury convicts him on all three counts stemming from his October 2022 trades on the DeFi trading platform Mango Markets, which netted him $110 million in cryptocurrencies. The government seeks to portray that trade as an illegal windfall from market manipulation, while the defense calls it a legitimate trading strategy. Source

Bitcoin Mining Difficulty Hits Record High In Anticipation Of Halving Event

boss

The Bitcoin network mining difficulty has surged nearly 4% to hit an all-time high just a few days before the highly anticipated Halving event. This adjustment, recorded at 86.4 trillion, marks a crucial milestone in the cryptocurrency’s history. Decrypting Bitcoin’s Mining Complexity Notably, Bitcoin mining difficulty measures miners’ complexity in solving mathematical puzzles to validate transactions and add new blocks to the blockchain. This latest surge reflects the increasing computational power dedicated to securing the network as miners brace themselves for the impending Halving event scheduled for April 20. As…

The SEC’s Suit Against Uniswap Is an Opening Attack Against DeFi

“The SEC is very imaginative in the ways that you can be violating their rules,” Bill Hughes, senior counsel and director of global regulatory matters at Consensys, told CoinDesk. Part of the issue, conceivably, is that Uniswap Labs runs the biggest portal onto the Uniswap protocol via uniswap.org. Another potential concern is the UNI governance token, launched to give users some control over protocol governance but could be twisted to look like a securities offering. Source

Circle facilitates USDC swap for BlackRock’s tokenized fund

Circle will allow the direct conversion of BlackRock’s tokenized fund shares into its USDC stablecoin. According to Cricle’s announcement, a new smart contract feature will enable BlackRock USD Institutional Digital Liquidity Fund (BUIDL) investors to instantly convert their shares to Circle’s USDC stablecoin. The smart contract is designed to offer a “near-instant” off-ramping option for BUIDL, making it accessible to investors around the clock. In March, BlackRock introduced its inaugural tokenized investment vehicle, the BlackRock Digital Liquidity Fund (BUIDL), providing investors access to yields denominated in USD. Specifically, shares are issued as tokens…

‘Fighting for DeFi’: Top Decentralized Exchange Uniswap After Receiving Wells Notice From SEC

boss

One of the biggest decentralized exchange (DEX) platforms says it is “fighting for DeFi” after receiving a Wells Notice from the U.S. Securities and Exchange Commission (SEC). In a new blog post, Uniswap (UNI) says it has recently received a Wells Notice from the SEC, meaning that the regulator is planning on taking enforcement actions against the DEX soon. However, UNI says the SEC’s actions appear political in nature, that it won’t be pulling any of its products off the market due to the notice, and that the decentralized finance…