Those chains include Arbitrum, Optimism, Polygon, StarkWare and zkSync. Users will be able to opt in or out to use Avail for data availability – a service needed by these “rollup networks” to stash the reams of data produced on all the transactions taking place. A key driver for DA solutions is that they can provide a cheaper and faster way of storing data than on the main Ethereum blockchain. Source
MicroStrategy’s corporate strategy is partly based on the acquisition and holding of bitcoin. As of March 19 it held 214,246 bitcoin worth $13.9 billion at current prices. Benchmark notes that since the software company started holding bitcoin on its balance sheet it has recorded $2.27 billion in cumulative impairment losses due to a Financial Accounting Standards Board (FASB) rule called ASC 350. The FASB issued new guidance in December last year that allows companies that hold digital assets on their balance sheet to measure them at fair value, and record…
Jabara Igbara, also known as “Jay Mazini,” who claimed to be a crypto millionaire on Instagram, was sentenced by U.S. District Judge Frederic Block to seven years in prison on wire fraud and money laundering charges. The sentence also requires Igbara to forfeit $10 million. Source
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…
Congressional movement, both in the Senate and the House, on stablecoin legislation picked up pace in the past few weeks. Waters said that the U.S. Federal Reserve, the Treasury Department and the White House have all had input in crafting the bill, the report said. Source
The Wall Street giant opened up bitcoin ETF purchases after they had been approved earlier this year. However, this was done only on an unsolicited basis. The bank is now looking to let its brokers pitch bitcoin ETFs directly to its customers, the report added. Source
April 24: SEDA, a data transmission and computation network that enables a permissionless environment for developers to deploy data feeds, announced the launch of its mainnet genesis event. According to the team: “By mitigating native deployments via a modular and chain-agnostic design, SEDA is building to offer complete developer flexibility with chain-agnostic integrations alongside completely programmable data feeds, enabling a ‘permissionless optionality’ that promotes Web3’s ethos for builders. Mainnet will see the deployment of SEDA’s solvers, an overlay network offering one-click node spinups for community and bespoke mechanics for network…
“The recent high-profile cases against Terra/Do Kwon and Ripple, with penalties reaching hundreds of millions or even billions of dollars, do signal a change in the SEC’s strategy,” University of Pennsylvania assistant law professor Andrea Tosato told CoinDesk in an interview. “Overall, I would say that it appears the SEC is trying to send the message that … the reward is just not worth the risk.” Source
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…
RUNING THE PARTY? Bitcoin’s once-every-four-years “halving” was supposed to bring a steep cut in revenue for crypto miners, since their rewards for new data blocks would drop by 50%. Instead, the simultaneous launch of Casey Rodarmor’s new Runes protocol – for minting digital tokens on top of the oldest and largest blockchain – proved so popular that it caused massive network congestion, sending transaction fees to record levels and showering Bitcoin miners with a windfall like never before. On a halving watch party hosted by Tone Vays, longtime Bitcoin experts…