Despite Bitcoin’s difficulty reaching an all-time high at 46.84 trillion, participants in bitcoin mining have kept the hashrate running stronger than ever before. According to statistics, on March 23, 2023, the hashrate reached a high of 400 exahash per second (EH/s). The 400 exahash equates to 0.4 zettahash or four hundred quintillion hashes per second. As the hashrate continues to…
MakerDAO, the decentralized autonomous organization that governs the Dai (DAI) stablecoin, has passed a new proposed “constitution” intended to formalize governance processes and help prevent hostile actors from taking over the protocol, according to the official forum page for the proposal. The Maker Constitution has been approved by Maker Governance. The Endgame Era is upon us.https://t.co/OKf9Kgo4dp pic.twitter.com/XqzsP44faQ — Maker (@MakerDAO)…
According to the Federal Deposit Insurance Corporation (FDIC), the troubled bank Silicon Valley Bank (SVB) was acquired by First Citizens Bank & Trust Company, which is based in Raleigh, North Carolina. First Citizens acquired all deposits and loans from SVB, as well as the 17 branches that SVB owned across the United States. Silicon Valley Bank Purchased by First Citizens…
The architect of the March 13 Euler Finance exploit returned an additional $26.5 million worth of Ether (ETH) to the Euler Finance deployer account on March 27, on-chain data shows. Another 13M for ze Euler team 20M dai left in the wallet that sent this over Let’s get it pic.twitter.com/rF8l6e7yYw — DCF GOD (@dcfgod) March 27, 2023 At 6:21 p.m.…
The crypto market corrected on news of the CFTC suing Binance and its CEO Changpeng Zhao, but technical charts reveal a silver lining. Source: https://cointelegraph.com/news/price-analysis-3-27-spx-dxy-btc-eth-bnb-xrp-ada-matic-doge-sol
The United States Commodity Futures Trading Commission (CFTC) filed suit against Binance on March 27 for violations of the Commodities Exchange Act and CFTC regulations. Those violations included transactions with Ether (ETH), according to the suit. This claim, at first glance, touched on a notable point of contention between the CFTC and the Securities and Exchange Commission (SEC). The CFTC…
Computer hardware manufacturer Nvidia has profited off of the cryptocurrency mining industry in recent years—but now CTO Michael Kagan has reportedly said that crypto does not “bring anything useful for society,” according to The Guardian. Instead, Kagan hopes that NVIDIA products are used for artificial intelligence (AI) development rather than crypto mining. “All this crypto stuff, it needed parallel processing,…
In response to a federal regulatory lawsuit targeting Binance that has rocked the crypto industry, the firm said the best path forward is to continue protecting its users while still working with regulators to develop a clear regulatory framework. “The complaint filed by the CFTC is unexpected and disappointing as we have been working collaboratively with the CFTC for more…
Two lawmakers in one week weighed in against the possibility of a United States central bank digital currency (CBDC). Florida Governor Ron DeSantis — expected by many to throw his hat into the ring for the 2024 U.S. presidential race — has called for a ban on a digital dollar in the state. DeSantis spoke out against the Federal Reserve…
After the recent bank collapses in the U.S., a number of people believe that more failures are coming following the Federal Reserve’s increase of the benchmark interest rate by 25 basis points (bps). American journalist Charles Gasparino insists that Wall Street’s “low-rate” junkies are ignoring the U.S. banking crisis. Quill Intelligence CEO Danielle DiMartino Booth asserts that the banking industry…
