Celo Cements Its Stablecoin Allegiance: Transaction Fees Now Can Be Paid With Stablecoins

Celo, a low-fee, usability-focused blockchain network, has approved a proposal to allow transaction fees to be paid with stablecoins. Network users can now transact only by holding USDC in their wallets, abstracting the complexity of holding other tokens. This also benefits newcomers, making it easier for them to make transactions. Celo Aims for Usability in […] Source CryptoX Portal

FTX’s Custody Unit Sold for 95% Less Than It Paid Months Before Collapse

DCI was initially bought to provide custodial services for FTX.US and U.S.-based LedgerX, but due to the collapse of the FTX empire, it was never integrated into either operation. Following the sale of LedgerX – and after FTX said it wouldn’t restart or sell its exchange – DCI had “relatively few operations,” according to the court filing. Still, DCI remains a valuable franchise, given it has already acquired a custody license from South Dakota, according to the filing. Source

Mt. Gox Creditors Accidentally Paid Twice in Rehabilitation Settlement

The accidental double payment of settlement funds to Mt. Gox creditors adds a new chapter to the saga of one of the crypto industry’s earliest and most remarkable failures. In a recent development, multiple reports on Reddit indicate that some creditors of the infamous Mt. Gox crypto exchange have received settlement funds twice due to a system glitch. The revelations have led to discussions, debates, and even humor within the crypto community. Mt. Gox Creditors Email Admission The issue came to light when Reddit user u/rlycreativename shared the contents of an…

Mt. Gox creditors finally getting paid after 10 years

Creditors of long-failed cryptocurrency exchange Mt. Gox have finally started receiving payments for their Bitcoin (BTC), which has been locked up on the exchange since February 2014. On Dec. 25, on the mtgoxinsolvency Reddit page, users speculated that Mt.Gox was sending refunds in Japanese yen through PayPal – almost ten years after the funds were blocked on the exchange on Feb. 24, 2014. In particular, one of the Reddit users, Free-end254, stated that he received payments and attached a screenshot with confirmation from PayPal. Another user also confirmed receipt of…

Hive Digital says BTC miners bought last Dec have already paid themselves off

Bitcoin (BTC) miner Hive Digital Technologies says the move to acquire a fleet of Bitmain mining rigs last year has already paid for itself, due in large part to a significant increase in the price of Bitcoin.  In a Dec. 8 statement, Hive Digital wrote that it had been acquiring mining rigs since the collapse of FTX, a decision it believes will put it in a favorable position for the upcoming Bitcoin halving, currently slated for April 2024. 276.3 Bitcoin produced from ASIC and GPU mining operations, representing an average…

Binance, CZ paid for defying financial, political status quo: Arthur Hayes

The explosive growth and success of Binance outside of the control of traditional financial and political establishments led to heavy-handed enforcement actions against the exchange, according to former BitMEX CEO Arthur Hayes.  Hayes delved into the recent $4.3 billion settlement paid out by Binance in a lengthy Substack blog. This comes after the exchange and its founder, Changpeng “CZ” Zhao, admitted to violating United States laws around money laundering and terror financing. As Hayes highlights, CZ’s global exchange became the largest by trading volume in the six years since its…

Bitcoin holder claims hacker stole 139 BTC, paid record $3m in fees

A Bitcoin user assumed ownership of hacked funds involved in a record-breaking transaction where miner AntPool received over 83 BTC in fees. An unknown X user claimed to be the victim of a hack connected to the largest Bitcoin (BTC) fee paid for a single transaction to date. On Nov. 24, an anonymous individual created the X page “@83_5BTC” and said their address paid 83.5 BTC in fees after creating a new cold wallet.  The user surmised that a hacker likely leveraged an automated script to hijack their transaction, paying…

Unknown holder paid $3.14m in BTC transfer fees, the highest ever recorded

On Nov. 23 an unknown Bitcoin owner sent 139.4 BTC to AntPool, triggering over $3 million in fees. According to journalist Colin Wu, the transaction fee was 83.65 BTC. According to mempool, today bc1qn3d…wekrnl paid a fee of 83.65 BTC (approximately $3.136 million) when transferring 139.42 BTC to bc1qyf…km36t4, and finally received 55.77 BTC. The block 818087 fee was captured by the mining pool AntPool. https://t.co/uZQ1aYfpMB — Wu Blockchain (@WuBlockchain) November 23, 2023 Data from analytics platform Whale Alert shows that the user paid $3.14 million to send the funds.…

Bug in Fed’s payment system prevents bank customers from getting paid

Some of the largest United States banks are not able to facilitate customers deposits after one of the Federal Reserve’s payment systems suffered an outage on Nov. 3. The Federal Reserve said the bug was caused by a “processing issue” in the Automated Clearing House — a payment processing network widely used by banks and employers to deposit wages into employee bank accounts. The ACH is operated by the Federal Reserve Banks and the Electronic Payment Network. Banks stressed customer accounts “remain secure” and the Federal Reserve claims all of…