Compass Mining, a bitcoin mining firm, published a blog post stating that Bitmain, the company behind the application-specific integrated circuit (ASIC) mining rig, has made changes to its design. The post advised miners to be aware of the changes as Compass Mining identified “three issues” with two different Antminer S19 series mining devices. Bitcoin Miner Compass Mining Identifies 3 Issues…
American crypto users haven’t lost their trust in “intermediaries” to hold their crypto, with a January survey from Paxos suggesting a majority of United States crypto hodlers still trust banks, exchanges and mobile payment apps to custody their assets. An annual online survey published on Mar. 7 by the stablecoin issuer conducted between Jan. 5 and Jan. 6 sought to…
The crypto community is debating whether SMS two-factor authentication (2FA) should ever be used for account security following news that a Coinbase customer is suing the cryptocurrency exchange for $96,000. On Mar. 6 Jared Ferguson filed a lawsuit against Coinbase in the United States District Court for the Northern District of California, claiming he lost “90% of his life savings”…
The law firms, investment banks and consulting companies working with FTX on its bankruptcy case billed the crypto exchange a combined $34.18 million in January, court documents reveal. FTX’s chief restructuring officer and new CEO, John J. Ray III, also received a hefty pay package, charging $1,300 an hour to a total of $305,000 in February according to a Mar.…
The organization representing Russia’s crypto and blockchain sector has urged Vladimir Putin to spur regulatory efforts. The association fears the Russian Federation may lag behind other nations if it maintains its conservative approach towards new financial technologies. Russian Crypto Businesses Want Putin to Engage With Regulatory Process The Russian Association of Cryptoeconomics, Artificial Intelligence and Blockchain (Racib) has called on…
Payments company Block, formerly known as Square, is delving deeper into the crypto mining industry with potential plans to build a “mining development kit.” A Mar. 7 blog post revealed that the Jack Dorsey-founded multinational technology firm was mulling its latest vision for advancing its Bitcoin (BTC) mining ambitions. Senior product lead for mining hardware, Naoise Irwin, asked for feedback…
The government of North Macedonia believes that an ongoing wave of false bomb threats against public targets in the country is coming from Russia and Iran. The authorities in Skopje also say that payments related to the attacks have been made with cryptocurrency to conceal traces. Over 700 Facilities Targeted With Bomb Threats in North Macedonia, Attackers Used Crypto The…
Ethereum co-founder Vitalik Buterin has gone on a shitcoin selling spree, exchanging nearly $700,000 worth of tokens previously airdropped to him for Ether (ETH). According to Etherscan, on Mar. 7 a wallet belonging to Buterin offloaded 500 trillion SHIKOKU (SHIK) for 380.3 ETH ($595,448), nearly 10 billion Cult DAO (CULT) for 58.1 ETH ($91,021), and 50 billion Mops (MOPS) for…
United States banking regulators have reportedly been sent to Silvergate’s headquarters in La Jolla, California — looking for ways to save the crypto-friendly bank from a possible shutdown. A Mar. 7 Bloomberg report citing “people familiar with the matter” said Federal Deposit Insurance Corporation (FDIC) officials have been discussing ways to salvage the company with management. The FDIC is an…
Federal Reserve Chairman Jerome Powell has outlined several risks related to crypto activities during a hearing before the Senate Committee on Banking, Housing, and Urban Affairs. While stating that the Fed sees turmoil, fraud, a lack of transparency, and run risk in the crypto space, he stressed: “We don’t want regulation to stifle innovation.” Fed Chairman Outlines Risks in Crypto…
