An Ethereum whale lost nearly $4 million this summer after buying 8,825 ETH prior to the market downtick a few weeks ago, according to the crypto tracker Lookonchain. Lookonchain notes the whale bought the 8,825 Ethereum for $27.96 million at an average price of $3,169 per ETH from Binance between July 27th and Aug 3rd. …
Monthly archives: August 2024
Sony Launches Soneium Testnet & Developer Incubator Program
TLDR: Sony launched Soneium Minato testnet for its new Ethereum Layer 2 blockchain Soneium Spark incubator program announced to support developers Up to $100,000 investment available for eligible projects Testnet allows developers to explore the network before mainnet launch Sony partnering with major Web3 companies to support the ecosystem Sony is making strides in the …
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Ethereum Foundation Under the Microscope: $100 Million Budget Raises Questions
TLDR: Ethereum Foundation’s annual budget increased from $41 million in 2021 to $100 million in 2024 Vitalik Buterin disclosed his annual salary of ~$140,000 from the Ethereum Foundation The Foundation moved $94 million worth of ETH to Kraken exchange recently Community members are demanding more transparency around the Foundation’s spending Concerns raised about perceived lack …
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TON resumes operations after traffic surge from $550M DOGS airdrop disrupts network
The Open Network (TON), the blockchain network linked to Telegram, has resumed operations following a significant outage that lasted nearly six hours due to a spike in network traffic. In an Aug. 28 post on X, TON confirmed it was back online and producing blocks as usual. What caused the outage? Some community members speculated …
BTC down 5%, mirrors largest ETF outflows since August 6
Quick Take Bitcoin continued its sell-off overnight, dropping another 5% and settling back into the $58,000 – $59,000 range. This sharp decline is mirrored in perpetual funding rates, which have swung from extremely positive levels to negative, highlighting the rapid shift in market sentiment whenever Bitcoin either goes above or falls below the $60,000 mark. …
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AI model generates real-time playable DOOM with no game engine
GameNGen, a neural model-based game engine, is demonstrating the potential to revolutionize how video games are generated and played. An innovative approach developed by Google Research and Tel Aviv University researchers allows for real-time interaction with complex gaming environments without relying on traditional game engines. As the authors reported, GameNGen can simulate the classic game …
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Washington State Regulator Warns of Potential Fraud by BIB Crypto Platform
The Washington State Department of Financial Institutions (DFI) issued a consumer alert on Tuesday, stating that it has received a complaint regarding possible fraudulent activities by a cryptocurrency trading platform named BIB. An investor reported that after transferring 20,000 USDT to BIB following advice from individuals named Austin Johnson and Cindy Turner, he was unable …
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Bitcoin.com Introduces Permissionless Bitcoin Price Prediction Game in Partnership With Playnance
Bitcoin.com, a leader in the cryptocurrency space since 2015, has once again raised the bar by launching an innovative Web3 game in collaboration with Playnance, a Web3 game developer founded in 2020. The new offering, called “Bitcoin Up or Down,” allows users to predict Bitcoin price movements and earn rewards. Players choose to join the …
JPMorgan Strategist Predicts US Liquidity to Contract as Temporary Boosts Fade
JPMorgan strategist Nikolaos Panigirtzoglou has discussed recent changes in the U.S. M2 money supply, noting a temporary rebound following a decline in April. He expects U.S. liquidity to contract again, similar to 2022, influenced by the Fed’s ongoing quantitative tightening (QT) and slower bank loan growth. JPMorgan Strategist Foresees U.S. Liquidity Contraction Ahead Nikolaos Panigirtzoglou, …
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Salvadoran Educational Nonprofit Mi Primer Bitcoin Risks Running out of Funds
Mi Primer Bitcoin, an educational bitcoin nonprofit organization founded in El Salvador, risks running out of funds by September according to statements from its founder John Dennehy. Dennehy declared that while they expect to receive multiple grants by the end of the year, they need additional funds to reach that period. He assessed that this …
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Trader Says Bitcoin May Soon Shift To Parabolic Phase and Leave ‘Boring Zone’ Behind – Here’s His Timeline
A crypto strategist who accurately called Bitcoin’s pre-halving pullback thinks BTC is gearing up to transition to the parabolic phase of the cycle. Pseudonymous analyst Rekt Capital tells his 84,600 YouTube subscribers that Bitcoin may be a few weeks away from witnessing the return of bullish price action based on historical data. “So this so-called …
Bitcoin’s millionaire addresses rise and fall with market dynamics
Onchain Highlights DEFINITION: The number of unique addresses holding at least a value of $1M. Bitcoin addresses with a balance of at least $1 million have fluctuated significantly over the past year, reflecting broader market trends. In early 2024, there were less than 100,000 such addresses, coinciding with a steady BTC price near $40,000. However, …
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SEC Freezes Assets of Crypto Trading Bot Operators in Alleged Ponzi Scheme
The U.S. Securities and Exchange Commission (SEC) has frozen the assets of Jonathan and Tanner Adam, alleging they ran a $60 million Ponzi scheme under the guise of a crypto trading bot. Over 80 investors were defrauded by promises of high returns, while the funds were allegedly used for personal luxuries. The SEC seeks injunctions, …
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Coinbase CEO Brian Armstrong Predicts Payments Will Be Crypto’s Next Big Boom
Coinbase CEO Brian Armstrong reflects on the past decade of the cryptocurrency industry, highlighting his initial expectation that payments would be the primary application for crypto. Instead, trading became the dominant force. Looking ahead, Armstrong remains optimistic about the future of crypto payments, citing advancements in stablecoins, layer two technologies, and simpler onboarding processes as …
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Nasdaq Seeks SEC Approval to Launch Bitcoin Index Options
Nasdaq has filed with the U.S. Securities and Exchange Commission (SEC) to list and trade Bitcoin Index Options. The company aims to provide new tools for institutional and retail investors to manage cryptocurrency investments. The options, pending regulatory approval, will offer European-style exercise and cash settlement features. Nasdaq Seeks to Launch Bitcoin Index Options Nasdaq …
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