Tag: Million

Ex-Coinbase Exec Balaji Srinivasan Closes Out $1 Million Bitcoin Bet – Bitcoin News

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Former Chief Technology Officer at Coinbase, Balaji Srinivasan, closed out early a bet that the price of bitcoin would hit $1 million by mid-June amid hyperinflation of the U.S. dollar. Srinivasan paid a total of $1.5 million, more than the initially committed $1 million, with two-thirds of the money donated to two organizations. Former Coinbase CTO Settles $1 Million Bet on Bitcoin Ahead of Time Balaji Srinivasan, the ex-chief tech officer of U.S. crypto exchange Coinbase, has closed his million-dollar Bitcoin bet with the pseudonymous Twitter pundit James Medlock. On…

BRC20 Token Standard Sparks Frenzy in Bitcoin Community With Market Cap Surpassing $95 Million – Bitcoin News

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As of May 3, 2023, the Bitcoin blockchain has witnessed a staggering 3.35 million Ordinal inscriptions, and a new experimental token standard known as “Bitcoin Request for Comment,” or BRC20, has garnered substantial attention in the past week. With 10,487 BRC20 tokens built using Ordinals and a swelling market capitalization exceeding $95 million, this new development has the crypto world buzzing. Ordinals Protocol Witnesses 3 Million Inscriptions While BRC20 Tokens Drive Bitcoin’s Mempool into Overdrive The Bitcoin community is abuzz with conversations surrounding the BRC20 token standard after its introduction…

Global Law Enforcement Agencies Dismantle Darknet Marketplace Monopoly Market, Arrest 288 and Seize $53.4 Million – Bitcoin News

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On May 2, 2023, Europol announced a collaborative effort between law enforcement agencies from the U.S., Europe, the U.K., and Brazil culminated in 288 arrests, along with the confiscation of 850 kg of illegal drugs, 117 firearms, and $53.4 million in cash and cryptocurrencies. This joint venture, named “Operation Spector,” successfully dismantled the darknet marketplace (DNM) Monopoly Market and confiscated its infrastructure back in December 2021. Monopoly Market Taken Down via a Consortium of Global Law Enforcement Officials The U.S. Justice Department and Europol reveal that officials from around the…

Paypal Upgrades Crypto Services to 60 Million Venmo Users, Allowing Transfers to External Wallets and Exchanges – Bitcoin News

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After the American financial technology giant Paypal rolled out crypto payments last year, the company is now introducing cryptocurrency transfer services to Venmo users. The firm detailed that Venmo customers will be able to send funds to an existing Paypal account, an external wallet, or a crypto exchange platform. Venmo Customers Can Now Transfer Cryptocurrency to Paypal Users, External Accounts, and Exchanges On April 28, the payments services company Paypal announced that Venmo’s 60 million customers can now enjoy cryptocurrency transfers. The rollout follows Paypal’s crypto transfer launch last summer…

Senior Citizen Defrauded of $7.5 Million in a Sophisticated Cryptocurrency Scam in B.C.

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A senior citizen residing in Burnaby, British Columbia, was scammed out of more than $7.5 million in a cryptocurrency fraud, which the Burnaby RCMP unit says is one of the most substantial scams the detachment has ever investigated. The fraudsters employed a double-barrelled approach, first targeting the victim with a cryptocurrency fraud before posing as someone who could assist her in recovering her money. The police have issued a warning in response. The scammers initiated contact with the victim in the spring of 2022, claiming to be seeking information about…

Bitcoin Blockchain Surpasses 2 Million Ordinal Inscriptions Milestone in Just Over 4 Months – Bitcoin News

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As of April 28, 2023, the number of Ordinal inscriptions on the Bitcoin blockchain has exceeded 2 million, according to current statistics. This milestone has been reached within just over four months since the first Ordinal inscription was minted on December 16, 2022, at block height 767,753. In total, inscription minting fees have amounted to 196.22 bitcoin, equivalent to $5.78 million. More Than 2 Million Ordinal Inscriptions Are Now Engraved Into the Bitcoin Blockchain The trend of Ordinal inscriptions on the Bitcoin blockchain continues to grow, with over 2,116,396 inscriptions…

Social Media App MeWe to Bring Blockchain-Based Identities to 20 million Users Via Frequency

Frequency is a parachain of the Polkadot blockchain, meaning it sets its own rules and follows its own logic but is compatible with the main Polkadot chain as well as other parachains. Parachains pay a comprehensive lease to Polkadot, often with funds gathered from their communities, instead of a fee for each block. This boosts the system’s scalability and stability, according to Frequency. As such, the Frequency blockchain can handle a lot of throughput, needed for social media applications. Source AppBlockchainbasedBringFrequencyidentitiesmediaMeWeMillionsocialUsers CryptoX Portal

Nearly 1,000 Ancient Bitcoins from 2010 and 2011 Moved in 2023, Valued at Over $27 Million – Bitcoin News

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Based on present data, within the last four months, a mere three block rewards from the year 2010 have been transferred after 13 years of dormancy. This is due to the fact that dormant wallets from that era are becoming a rarity to behold. The latest expenditure of a 2010 block took place on April 22, 2023, at 11:14 p.m. (UTC), when a miner spent 50 bitcoin that was valued at approximately $1.3 million. A historic moment occurred today, as a transfer of 400 bitcoin from 2011 took place, marking…

Crypto AI Economy Suffers $730 Million Loss in 2 Months as Interest Wanes – Bitcoin News

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Less than two months ago, a collection of 74 listed cryptocurrencies centered around artificial intelligence (AI) amassed an impressive $4 billion valuation. However, the intervening weeks have seen a sharp decline in crypto-AI economy gains, with losses of $730 million. The three most prominent AI-driven crypto projects have all suffered double-digit losses, ranging from 10% to 29.58%, against the U.S. dollar over the last 30 days. Interest in the Combination of Crypto and Artificial Intelligence Has Declined, Crypto-AI Token Economy Sheds $730M Various data points suggest that interest in and…