Latest

• Jul 10, 4:53 PM Hand-Picked

  Jack Dorsey's Block to supply 3nm mining ASICs to Bitcoin miner Core Scientific

  Block has closed a deal to supply 3nm mining ASICs to Bitcoin miner Core Scientific, potentially adding 15 EH/s to Core's hashrate. The collaboration aims to advance and decentralize the mining industry. Block, led by Jack Dorsey, has been developing mining chips since 2021 to address challenges in Bitcoin mining. The 3nm chips are expected to enhance processing while reducing energy consumption. Block views this as a step towards decentralizing BTC mining technology, which is currently concentrated among a few companies.

  Expand

• Jul 10, 4:33 PM DeFi Llama News

  Cambodian firm linked to ruling family runs $11b crypto scam operation

  A Cambodian online marketplace, Huione Guarantee, is implicated in an $11b crypto scam operation with ties to the prime minister's family. The platform has received over $11b since 2021, with strong indications of illicit activity. Merchants openly offer money laundering services and tools for "pig butchering" scams. Hun To, cousin of PM Hun Manet, is a director in a related company. This development highlights the industrial-scale proportions of crypto fraud in Southeast Asia, with Huione Guarantee acting as a clearing house for thousands of instant messaging app channels.

  Expand

  

• Jul 10, 1:00 PM Crypto Briefing

  Ethereum co-founder calls for automated defenses against 51% attacks

  Vitalik Buterin advocates for Ethereum to develop automated responses to potential 51% attacks and censorship threats. He emphasizes the need for validator nodes to run software capable of detecting and counter-censoring majority chain censorship. Buterin also suggests wider adoption of light clients, support for zk-EVM verification, and addressing quantum resistance concerns. These proposals aim to enhance Ethereum's resilience and improve its functionality for developers and users.

  Expand

  

• Jul 10, 11:00 AM Crypto Briefing

  Bitwise faces $2 million lawsuit over alleged investor fraud

  Asset management firm Bitwise faces a $2 million lawsuit from the Mukamal family for alleged fraud and misrepresentation regarding the Bitwise Hold 10 Private Index Fund. Investors claim they were misled about the fund's management and liquidity, resulting in significant losses. The lawsuit alleges breach of fiduciary duty, negligence, and securities law violations. Bitwise denies the allegations, stating the claims are without merit and will be disputed vigorously.

  Expand

  

• Jul 10, 10:55 AM Crypto Briefing

  Bitcoin fails to break $60,000 as German government eases selling pressure

  Bitcoin struggled to surpass $60,000 despite reduced selling pressure from the German government. The government moved 5,853 BTC to various platforms, lowering their reserves to 18,100 BTC. Bitcoin's price fluctuated between $57,500 and $58,000. The recent price drop is also attributed to Mt. Gox creditor repayments. Bitcoin is currently trading at $58,600, up 1% in 24 hours.

  Expand

  

• Jul 10, 9:47 AM Coindesk

  Tulip Siddiq becomes UK City Minister with a focus on crypto regulation

  UK Prime Minister Keir Starmer has appointed Tulip Siddiq as the City Minister, responsible for overseeing financial services, including crypto. Siddiq, a proponent of regulating the crypto sector to mitigate risks and leverage its potential, aims to transform the UK economy by integrating properly regulated crypto assets. Her role will also support the Labour party's initiative to advance the Bank of England's digital-pound and make the UK a hub for tokenization.

  Expand

  

• Jul 10, 7:00 AM The Block

  Elliptic links Huione Guarantee to money laundering and other criminal activities

  Blockchain analytics firm Elliptic has alleged that Huione Guarantee, a Cambodia-based marketplace, is involved in money laundering and other illegal operations. According to their report, crypto wallets linked to Huione have received over $11 billion since 2021, with a significant portion suspected to derive from illicit activities. Prominently, USDT serves as a major payment method on the site, which lacks oversight of merchant activities, facilitating criminal enterprises. Elliptic has identified numerous crypto addresses associated with Huione, enabling exchanges to screen and limit further laundering.

  Expand

  

• Jul 9, 8:48 PM Cointelegraph

  Circle adds euro-backed EURC to Base network for layer-2 forex trading

  Circle, a stablecoin issuer, has expanded its euro-backed token, EURC, onto the Base network, marking its debut on an Ethereum layer-2 platform. This makes EURC more accessible for global e-commerce trades and complies with the new MiCA regulation. EURC aims to facilitate easier and more cost-effective forex transactions between euros and dollars, although availability on decentralized exchanges remains limited.

  Expand

  

• Jul 9, 5:20 PM Crypto Briefing

  Bitlayer co-founder remains optimistic about Bitcoin DeFi despite market challenges

  In 2024, the Bitcoin decentralized finance (BTCfi) sector experienced a 23.4% decline in token values, contradicting earlier investor expectations of growth. Charlie Hu, co-founder of Bitlayer, acknowledges this downturn but identifies distraction from emerging crypto trends, a still-maturing user experience in BTCfi protocols, and the broader crypto market downturn as key setbacks. Despite these challenges, Hu is optimistic about the rising total value locked in BTCfi and potential improvements from ongoing infrastructure developments like the OP_CAT operation on Bitcoin's blockchain, suggesting a forthcoming surge in BTCfi activity and liquidity.

  Expand

  

• Jul 9, 4:31 PM The Block

  Arkham CEO plans to introduce paid features while maintaining free core services

  Arkham Intelligence, led by CEO Miguel Morel, plans to roll out paid features on their blockchain data platform later this year, while ensuring that essential services remain free. Morel emphasized the importance of growth before monetization and mentioned ongoing support additions for the TON and Solana blockchains. The inclusion of new chains like Solana, despite high integration costs, aims to enhance analytical capabilities and broaden user access.

  Expand

  

• Jul 9, 12:30 PM Coindesk

  Storj expands enterprise services with Valdi acquisition

  Storj, a crypto-backed cloud-storage platform, has acquired high-performance cloud computing provider Valdi to integrate GPU computing capabilities into its services. The acquisition brings over 16,000 GPUs from Valdi’s global network into Storj’s infrastructure, enhancing support for AI-driven workloads and addressing the growing demand for high-performance computing solutions in technology, research, and life sciences sectors. The terms of the deal were not disclosed.

  Expand

  

• Jul 9, 7:00 AM Coindesk

  Consensys launches MetaMask Delegation Toolkit to enhance user and developer experiences

  Consensys, the developer behind MetaMask, announced the release of the MetaMask Delegation Toolkit at the Ethereum Community Conference in Belgium. This toolkit aims to facilitate seamless interactions between users and decentralized applications by eliminating the need for traditional wallet interactions and user confirmations. It also simplifies smart contract development and enables the reassignment of gas costs, which allows selected users to avoid transaction fees. The toolkit supports multiple chains compatible with the Ethereum Virtual Machine, enhancing the usability and efficiency of blockchain technology.

  Expand

  

• Jul 8, 9:30 PM Cryptoslate

  Bitwise predicts $6 trillion from inheritance pouring to crypto in the next two decades

  Matthew Sigel from Bitwise forecasts that $6 trillion could be funneled into crypto over the next 20 years as young US investors aged 21-43 inherit an estimated $42 trillion from Baby Boomers. According to the 2024 Bank of America Private Bank Study, these inheritors plan to allocate 14% on average to crypto, showcasing a significant trend where even the most conservative among them exhibits higher crypto engagement compared to older investors.

  Expand

  

• Jul 8, 6:21 PM Crypto Briefing

  Lionel Messi's Instagram post spikes Solana-based WATER token by 400%

  Lionel Messi recently promoted the Solana-based meme coin WATER on his Instagram, leading to a nearly 400% price increase within three hours, despite the token being 80% below its all-time high and 35% controlled by a select group of wallets. This instance underscores the influence of celebrity endorsements on crypto markets, amid general caution advised about token-supply concentration and similar incidents involving hacked celebrity accounts promoting cryptocurrencies. WATER, claiming to impact the real world positively, saw its trading volume skyrocket to nearly $97 million following Messi's endorsement.

  Expand

  

• Jul 8, 5:25 PM Crypto Briefing

  German government transfers $895 million in Bitcoin, market reacts

  The German government transferred approximately 16,039 Bitcoin, valued at nearly $895 million, to exchanges and market makers, causing a brief 3.5% dip in Bitcoin prices before a recovery. Despite concerns, CryptoQuant CEO Ki Young Ju remarked that the impact of government sales on the market is overestimated, noting the transaction represents just 4% of total crypto inflow since 202 3. Meanwhile, investors remain cautious about potential market impacts from large Bitcoin sells by entities like Mt. Gox and the German government.

  Expand