Author: Coindesk
Ordinals involves inscribing individual satoshis (the smallest unit of BTC at 1/100,000,000 of a full bitcoin) with data, such as images or text, making them unique and attaining individual value. They’re often thought of Bitcoin’s version of non-fungible tokens, or NFTs. Read the full article here
The planned consolidation will see SelfKey’s existing token KEY become Singularity Finance’s new token SFI. SingularityDAO’s SDAO and Cogito’s CGV will merge into SFI at ratios of 1:80.353 and 1:10.89 respectively. This process will be subject to change based on stakeholder discussions. Read the full article here
Then, in October 2023, CME saw the addition of 25,115 BTC, which coincided with CME becoming the largest futures exchange for the first time, overtaking Binance. Once again, in this period, from October to year-end bitcoin rose from approximately $25,000 to over $40,000. Read the full article here
“The combined hashrate of the 14 U.S.-listed miners we track has increased ~70% year-to-date (80 EH/s) to 194 EH/s, versus a 33% increase in the network hashrate, and today accounts for a record ~28.9% of the global network hashrate,” analysts Reginald Smith and Charles Pearce wrote. Read the full article here
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Until President Biden dropped out of the race in July, it seemed like Trump was the clear favorite within the crypto community. In the aftermath of the failed assassination attempt on July 12th, bitcoin jumped from $56,000 to $65,000, on the back of expectations that the former president would benefit from the incident. Trump’s view on crypto seems to have changed over the years. As president, he voiced skepticism over crypto, claiming that they could be used to facilitate illegal activities such as drug trafficking. He also mentioned at one point that he sees bitcoin as a currency competing against…
Prosecutors have asked the judge to go harder on Lichtenstein, however, who they argue spent months devising a scheme to gain access to Bitfinex’s systems and carry out his attack. They also point out that, while Lichtenstein has no official criminal history, he “experimented with other hacking and financial fraud activity” beginning as a juvenile. In 2016, before he hacked Bitfinex, Lichtenstein stole approximately $200,000 from another crypto exchange. Read the full article here
Radiant, which is controlled by a decentralized autonomous community, or DAO, states on its website that its mission is to “unify the billions in fragmented liquidity across Web3 money markets under one safe, user-friendly, capital-efficient omnichain.” Read the full article here
This uncertainty is creating opportunity as well as risk, as traditional financial (TradFi) institutions ramp up their entry into digital assets. TradFi firm’s sophisticated regulatory strategies, honed over decades of navigating complex compliance environments, are better positioned than smaller crypto-native companies. As major players launch products like Bitcoin ETFs and tokenized funds, innovators without regulatory expertise may be squeezed out unless they adapt to emerging frameworks such as those proposed by the Stablecoin Standard, which offers voluntary requirements for transparency, operational resilience, and reserve-backing. This model could offer a path for other innovators to meet compliance expectations and accelerate growth…
Finally, last week, official details of what the project actually is, or aims to be, began to emerge: Still to be developed and launched, it’s a “best-in-class consumer application,” distinguished by “simple onboarding and familiar UI/UX via one-click social login and wallet creation,” according to a blog post. (UI/UX is shorthand for user interface and user experience.) Under the hood, the project plans to operate an instance of the decentralized-finance (DeFi) project Aave atop the Ethereum blockchain, with plans to eventually deploy on the layer-2 network Scroll, according to the blog. World Liberty Financial even posted a “temperature check” proposal…