Tag: News

Constant Blackouts Have Ruined Cryptocurrency Mining Investments in Cuba – Mining Bitcoin News

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Several small investors have manifested that the constant blackouts in several parts of Cuba have made cryptocurrency mining unsustainable, leaving them unable to operate their rigs. The blackouts also affect telecommunications, leaving some of these operations that rely on off-grid power plants without the internet needed to complete mining tasks. Cryptocurrency Mining in Cuba Not Feasible Under Current Conditions Cryptocurrency has reached a notable level of functionality in Cuba, as citizens use it as an alternative to getting services that they would be unable to get otherwise, including international shopping,…

Research Shows Centralized Exchanges Saw the Most Visits This Year From Americans, Koreans, Russians – Exchanges Bitcoin News

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Residents of the United States, South Korea and the Russian Federation have been the most frequent users of centralized exchanges this year, according to a new study. The finding comes after the spectacular crash of FTX, one of the largest such platforms, amid tightening regulations and fewer new users. U.S. Leads by Number of CEX Users, Turkey and Japan Are Also in the Top in Terms of Traffic The U.S., South Korea and Russia together account for 22% of all visits to centralized exchanges (CEX) for cryptocurrencies, according to the…

Balaji Srinivasan Says FTX Is a Preview of State Failure, USD Bank Accounts Could Be Frozen or Inflated to Worthlessness – Economics Bitcoin News

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Angel investor Balaji Srinivasan says the collapse of crypto exchange FTX should be treated as “a preview of state failure.” He warned that one day U.S. dollar bank accounts “may be frozen or inflated to worthlessness,” emphasizing that the authorities “will show no interest in prosecuting.” Srinivasan cautioned: “That world is coming and we need alternatives.” Balaji Srinivasan on FTX, State Failure, and U.S. Dollars Becoming Worthless Angel investor Balaji Srinivasan commented on the collapse of crypto exchange FTX in a series of tweets Saturday. Formerly the CTO of crypto…

Rock Legend Gene Simmons Is Holding Crypto Despite Market Sell-Offs and FTX Collapse – Featured Bitcoin News

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Rock band Kiss’ lead singer Gene Simmons has confirmed that he is still holding crypto despite the crypto winter and the collapse of cryptocurrency exchange FTX. “I’m deep in crypto. I believe in it,” the rock legend affirmed. Noting that he has several cryptocurrencies, including bitcoin and ethereum, Simmons stressed: “Personally, I’m holding, but everybody should do their own due diligence.” Gene Simmons Says He’s ‘Deep in Crypto’ Rock legend Gene Simmons confirmed Thursday that he is still holding cryptocurrencies despite the crypto winter and the collapse of crypto exchange…

Hacker Steals $6.9 Million From Arbitrum-Based Defi Protocol Lodestar Finance – Defi Bitcoin News

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Arbitrum-based lending platform Lodestar Finance was exploited on Dec. 10, 2022, according to a tweet from the project’s Twitter account on Saturday. Community reports detail that Lodestar lost roughly $6.9 million from the vulnerability. Lodestar Finance Loses $6.9 Million in an Exploit, TVL Drained, LODE Drops by 53% Another decentralized finance (defi) platform, Lodestar Finance was hacked for $6.9 million in an exploit, a number of reports detail. “[The] protocol was exploited and deposits have been drained,” Lodestar’s official Twitter account said. “We have set all interest rates to 0…

Before the Bankruptcy Filing, FTX Co-Founder SBF Was Told by Crypto Execs to ‘Stop Trying to Depeg Stablecoins’ – Bitcoin News

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According to a recent report published by the Wall Street Journal (WSJ), cryptocurrency executives were allegedly concerned that Sam Bankman Fried’s (SBF) Alameda Research was trying to “depeg stablecoins.” Purportedly, high-up executives from crypto exchanges are members of a Signal chat group called “Exchange coordination,” and Binance CEO Changpeng Zhao (CZ) ostensibly told SBF to stop causing “more damage.” Binance CEO Allegedly Told SBF to Stop Causing ‘More Damage’ and to ‘Stop Trying to Depeg Stablecoins’ The Wall Street Journal (WSJ) reports that just before the crypto exchange FTX filed…

New York Times, FT, Bloomberg Blasted for Attempting to Get FTX Creditors’ Names Unsealed – Bitcoin News

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Amid the ongoing FTX bankruptcy proceedings, court documents indicate that media firms such as Bloomberg, the New York Times (NYT), Dow Jones & Company, and the Financial Times (FT) want the redacted information tied to FTX creditors unsealed. The media companies believe the public should be made aware of the creditors’ information, as the publications stressed in the court filing that the “news media acts as the eyes and ears of the public.” So-Called ‘Media Intervenors’ Insist the Court Should Unseal FTX’s Creditor Information Four major news media publications have…

FTX Insider Reveals New Document, Musk Catches Flak for SBF Comments, Nobel Prize Laureate Krugman Warns of Eternal Winter for Blockchain — Week in Review – The Weekly Bitcoin News

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It’s been another wild week in crypto, with a claimed FTX insider revealing a controversial document related to former Alameda Research CEO Caroline Ellison’s account at FTX. In related news, Elon Musk has been criticized for suggesting that former FTX CEO Sam Bankman-Fried (SBF) probably donated much more than publicly admitted to Democrats. Morgan Creek Capital CEO Mark Yusko has suggested that SBF was a “pawn” used by higher-ups to punish crypto. These stories and more in this latest edition of the Bitcoin.com News Week in Review. Document Claims Alameda…

Another Member of Russian Crypto Pyramid Finiko Arrested in UAE – Bitcoin News

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Law enforcement authorities in the United Arab Emirates have detained a top Finiko representative, sought for his role in the crypto Ponzi scheme which defrauded thousands of investors around the world. This is the second arrest in the Gulf state of a high-ranking member of the pyramid announced in the past month. Finiko Fraudster Caught by Interpol in UAE, Russia Seeks His Extradition Another individual involved in organizing Russia’s largest financial pyramid in recent years, Finiko, has been placed under custody in the UAE. The detention of Edward Sabirov in…

Webassembly Smart Contracts Are Going to ‘Pull a Lot of Talent From Web2 to Web3’ – Interview Bitcoin News

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Ethereum is almost universally credited for kickstarting the Web3 revolution after it brought to life the concept of smart contracts. However, some in the Web3 community, like Astar Network’s Sota Watanabe, believe the protocol cannot “build the innovative future of blockchain alone.” In addition, some critics point to the language obstacle which they argue makes the Ethereum Virtual Machine (EVM) a less-than-ideal place to build. Webassembly Smart Contracts ‘Will Accelerate the Adoption of Web3’ It is this and other limitations of the EVM that led to the creation of an…