Ethereum co-founder Vitalik Buterin believes the Bitcoin network needs scalable solutions like the zero-knowledge (ZK) rollups to become more than another payment network. Buterin’s comments came during a Twitter space hosted by Bitcoin developer Udi Wertheimer with discussions revolving around Ethereum’s scaling experiments. A ZK-rollup chain is an off-chain protocol that operates on top of the Ethereum blockchain and is…
Comedian Sarah Silverman has teamed up with two novelists to bring a potentially groundbreaking case against Meta and OpenAI, alleging that their copyrighted material was used to train chatbots without permission. The proposed class actions, brought by Silverman alongside authors Christopher Golden and Richard Kadrey, claim that their books were “ingested” to train OpenAI’s ChatGPT and Meta’s LLaMA without their…
While trust in the crypto space was severely damaged by a series of global incidents, some still hope to regain this trust by going through processes that provide assurances of compliance with certain business standards like the proper handling of customer data. A number of firms have published press releases to announce their compliance with the Service and Organization Controls…
Bitcoin (BTC) begins a new week barely clinging to $30,000 as a “bearish divergence” sets the tone. After a quiet weekend, BTC price action faces a potential pullback period within its broader bullish trend, traders say. What could be on the menu for the market this week? After a relative period of calm, external triggers are back for risk assets,…
A hacker drained approximately $455,000 from non-custodial decentralized finance (DeFi) protocol Arcadia Finance by exploiting a code vulnerability. Blockchain investigator PeckShield alerted about the hack on Arcadia Finance, pointing out the cause as “the lack of untrusted input validation.” The code supposedly lacked a validation mechanism to cross-check unverified inputs. This loophole allowed the hacker to drain funds worth roughly…
With a $216 million cap to be imposed on stablecoins such as USDT and USDC, some say crypto adoption could be “stifled” under MiCA unless it changes. Source: https://cointelegraph.com/public/index.php/news/eu-mica-stablecoin-cap-could-stifle-crypto-adoption
Approval management platform Revoke has issued a fix aimed at mitigating a new crypto scam, which involves baiting crypto users into revoking “fake approvals” and then stinging them with excessively high transaction fees. On July 9, Revoke.cash stated that it had received reports of people seeing unknown approval transactions in their transaction history. Yesterday, we received reports of people seeing…
Bitcoin is selling for just over $27,500 on Binance.US, a nearly $3,000 discount from global spot prices. Source: https://cointelegraph.com/public/index.php/news/bitcoin-btc-discount-binance-us-but-theres-a-catch
Bitcoin (BTC) is selling for a nearly $3,000 discount on Binance.US, providing a significantly better rate than global spot prices — but there’s just one catch. On July 9, a swathe of crypto users began noticing a widening price discrepancy between cryptocurrencies listed on the United States crypto exchange and their global spot prices, with many calling it a “depeg”…
Stablecoin use could be “stifled” by daily transaction caps in the European Union’s Markets in Crypto-Assets (MiCA) legislation, with some calling for the framework to be revised. On May 31, MiCA was signed into law which paved the way for the world’s first regulatory guidance on cryptocurrencies to come into effect. The legislation was received positively by many in the…
