2022 is coming to an end and during the last 12 months, the crypto economy has lost roughly $1.486 trillion in value against the U.S. dollar. On Dec. 20, 2021, bitcoin was trading for $46,406 and it has lost more than 63% in value year-to-date, while the second leading crypto asset ethereum shed 69% against …
Yearly archives: 2022
$1.7M in Quadrigacx Bitcoins Move, Court Trustee EY Says Transfers Were ‘Unauthorized’
On Dec. 19, the Twitter account Zachxbt revealed he discovered five cold wallets from the now-defunct Quadrigacx crypto exchange move 104 bitcoin. The following day, ‘big four’ accountancy firm EY, Quadrigacx’s bankruptcy court trustee, explained it did not authorize the spending of the funds and that prior reports detailed that the cold wallets were inaccessible …
Swarm, Ethereum’s Storage Network, Announces Mainnet Storage Incentives and Web3PC Inception
press release PRESS RELEASE. Swarm, the decentralised storage and communication system built on Ethereum, is announcing the mainnet release of its storage incentives programme, a mechanism to reward storage providers, which now incorporates staking. Swarm has been in development for the past five years, having over $6 million in 2021 through a private funding round …
Here’s What’s in Store for Polygon (MATIC), Solana (SOL) and Cardano (ADA), According to Top Analyst
Popular crypto trader Jason Pizzino is updating his outlook on Polygon (MATIC), Solana (SOL) and Cardano (ADA). In a new video update, Pizzino tells his 279,000 YouTube subscribers that blockchain scaling solution Polygon could see a more than 30% decline from its current price of $0.798 if it takes out a high timeframe support level. …
Crypto Analyst Predicts Relief Rally for Ethereum, Reveals Entry Points for One Low Cap Altcoin
Closely followed crypto analyst Michaël van de Poppe says that Ethereum (ETH) is gearing up for a relief rally after months of consecutive downward action. The popular analyst tells his 643,000 Twitter followers that he’s waiting for ETH to recoup some of its losses, and shoot up to around the $1,300 range. “Still pretty much …
Syscoin Signs Major Deal To Boost Web 3.0 Development in Asia
December 21, 2022 – Eindhoven, Netherlands Syscoin, a decentralized and open-source project founded in 2014, has announced a long-term partnership with WEconomy, the largest Web 3.0 incubator in Asia. The move marks a significant expansion milestone for the Syscoin ecosystem and adoption across Asia. The newly founded WEconomy currently consists of 70 startup projects and …
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Five Bitcoin Wallets Linked to Collapsed Crypto Exchange Mysteriously Awaken After Years of Inactivity: On-Chain Data
Five Bitcoin wallets associated with the now-defunct crypto exchange QuadrigaCX moved 104 Bitcoin (BTC) worth $1.75 million for the first time in years, according to an on-chain researcher. Pseudonymous on-chain sleuth ZachXBT points out the development to his 339,400 Twitter followers. Five wallets attributed to QuadrigaCX unexpectedly moved ~104 BTC on Dec 17 for the …
zkEVM could be the endgame for blockchain infrastructure
Very few projects have come close to matching the security and decentralization of the Ethereum network. However, the inherent overhead of maintaining these two critical features has left Ethereum burdened by low throughput and prohibitively high costs. As a result, alternative layer-1 blockchains (L1s) — which normally sacrifice security and decentralization to provide scale — …
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SEC files unregistered securities charges against Thor Token creators for 2018 ICO
The United States Securities and Exchange Commission (SEC) filed a complaint against Thor Technologies and its cofounder and CEO David Chin in U.S. District Court in San Francisco on Dec. 21. The SEC claimed that Thor’s 2018 initial coin offering (ICO) constituted an unregistered securities sale under the Securities Act of 1933. Thor Technologies raised …
Raydium announces details of hack, proposes compensation for victims
The team behind the Raydium decentralized exchange (DEX) has announced details as to how the hack of Dec. 16 occurred and offered a proposal to compensate victims. According to an official forum post from the team, the hacker was able to make off with over $2 million in crypto loot by exploiting a vulnerability in …
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New Amazon series explores NFT culture: Nifty Newsletter, Dec. 14–20
NFTs and soulbound tokens define Web3 filmmaking, says director With Web3 making its way to various industries like filmmaking, one movie director believes that tools like NFTs and soulbound tokens — digital identity tokens representing a person or entity — can serve cinema in various ways. In an interview with Cointelegraph, Stephen Fung, director of …
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Judge Authorizes Sam Bankman-Fried Extradition To U.S.
Summary: Sources said Sam Bankman-Fried could arrive in the U.S. as early as Wednesday afternoon. Bankman-Fried was approved for extradition to face eight counts of criminal charges for fraud in FTX’s crash. SBF waives his right to contest U.S. extradition after spending a week at the Bahamas Fox Hill prison. Sam Bankman-Fried will be extradited …
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Financial Giant VISA Details Concept Using Ethereum (ETH) for Automatic Payments
A team of researchers at the financial giant VISA has come up with a concept that would enable automatic payments for Ethereum (ETH) self-custodial wallets. Catherine Gu, the head of CBDC and protocols at VISA, says the company has been “closely tracking the development of the crypto ecosystem” and doing deep dives into Web3 infrastructure. …
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Binance Spreads Holiday Cheer With Themed Gift Card and Secret Santa Events
December 20, 2022 – Paris, France Binance, the leading cryptocurrency exchange, is spreading holiday cheer with festive events and promotions. Last year, Binance introduced its popular gift cards, empowering users to gift cryptocurrency in a unique and non-traditional way. These gift cards have experienced significant demand, with over 1.8 million traded between July 2021 and …
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Ankr says ex-employee caused $5M exploit, vows to improve security
A $5 million hack of Ankr protocol on Dec. 1 was caused by a former team member, according to a Dec. 20 announcement from the Ankr team. The ex-employee conducted a “supply chain attack” by putting malicious code into a package of future updates to the team’s internal software. Once this software was updated, the …
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