The Ethereum scaling network Optimism, which operates as a layer two (L2) network, announced plans to upgrade its network in March. The upgrade, named “Bedrock,” aims to increase transfer speed, lower fees, and enhance compatibility with the Ethereum Virtual Machine (EVM). The Optimism Foundation stated in its proposal, “The Bedrock upgrade is a major step towards a multi-chain future.” Optimism’s…
In this week’s newsletter, read about how Moonbirds founder Kevin Rose lost nonfungible tokens (NFTs) worth more than $1.1 million. Find out why an NFT collector is suing NFT marketplace OpenSea over locking his account for three months and how the Porsche NFT collection gained almost $5 million in sales volume, despite a failed launch. In other news, find out…
Asset manager State Street has disclosed a 9.32% stake in crypto bank Silvergate, a Thursday SEC filing shows. The Boston-based firm notes that the stake is passive—meaning that it doesn’t intend to change or influence the company. Silvergate has been in a pickle lately: lawmakers have just alleged that the bank “further introduced crypto market risk into the traditional banking…
Nearly $13 million has been moved into the consolidation wallet of bankrupt crypto trading firm Alameda Research in just 24 hours, revealed data from blockchain security firm PeckShield on Feb. 2. The address received $6 million in Tether (USDT) and $2.5 million in Ether (ETH) from crypto exchange Bitfinex’s hot wallet, along with $4.5 million worth of USD Coin (USDC)…
Shares of cryptocurrency exchange Coinbase popped more than 26% Thursday after a federal judge in New York dismissed a class action lawsuit against the San Fransico-based company. The lawsuit—first brought against Coinbase in March of last year—alleged that 79 tokens offered by the exchange were unregistered securities, were inappropriately sold directly to customers, and that it had failed to register…
The memecoin phenomenon didn’t prove as effective in the last month’s start of year crypto market rally, as the gains of the top cryptocurrencies in this category barely outperformed Bitcoin. The monthly gain of BTC stood at 44.5%, while the top two meme-based coins DOGE and SHIB gained 27% and 40.7%, respectively. Top meme-coins by total market capitalizations. Source: CoinMarketCap…
Fumio Kishida, the Prime Minister of Japan, has come out in support of blockchain as a potential solution for technological issues facing the country. In response to questioning from Liberal Democratic Party member Masaaki Taira before the Budget Committee of Japan’s House of Representatives on Feb. 1, Kishida said there were “various possibilities for using Web3” in Japan. He added…
Wallets play a foundational role in crypto security and, depending on which option you choose, can often be the difference between keeping or losing funds in certain situations. Broadly speaking, there are two main types of crypto wallet you’ll need to consider Custodial. Non-custodial. Each option has its own advantages and disadvantages, and suits different needs depending on your investment…
According to blockchain security firm CertiK, the damage caused to decentralized protocol BonqDAO on Feb. 1 may have been much less than initially thought. As told by CertiK, the attacker first borrowed 100 million BEUR, a euro stablecoin, with less than $1,000 in collateral due to a lack of controls on the collateralization ratio. If users set the parameter to…
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