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💰 Coinbase Ignites Bitcoin Lightning Network Integration, Boosting Transaction Speeds
Coinbase CEO Brian Armstrong announced via a tweet on April 8 that the cryptocurrency exchange will be integrating Bitcoin’s Lightning network into its platform. Armstrong’s statement came in response to a tweet by Bitcoin enthusiast Wicked, who challenged him for not publicly commenting on the Lightning network earlier. Armstrong explained that his tweets auto-delete after some months.
While Armstrong did not disclose details on when this integration would occur, many crypto stakeholders reacted positively to the news. For example, MicroStrategy’s founder Michael Saylor praised the move, and Bitcoin holder Derek Ross expressed his excitement about the possibility of “adding Lightning support for deposits and withdrawals.” If Coinbase integrates Lightning, it will be joining its rivals, such as Kraken, Bitfinex, BitStamp, and OKEx, which have already added support for the L2 solution. Others advised Coinbase to expedite the integration process, as they fear the company might end up with nothing to offer apart from Bitcoin, given the current regulatory environment.
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💰 Arkansas Approves ‘Right To Mine’ Bill To Protect Bitcoin Miners
The Arkansas State House has enacted legislation to regulate the state’s Bitcoin mining companies. The law has already cleared the State Senate and now goes to the governor’s office for approval. According to the archives, the law was approved by the House and Senate on April 6. On April 7, it was registered and delivered to the Governor’s office for approval. The act seeks to prohibit local governments from putting limits on crypto-mining operations.
The bill proposes that a Bitcoin mining operation may operate in the state if it follows state laws governing business guidelines and tax policies, and ordinances governing operations and safety, any rules or rates for utility service provided by or on behalf of a public entity, and state and federal employment laws. It also suggests that miners pay appropriate taxes and government fees in accepted forms of money and operate in a way that does not put a strain on an electric public utility’s generating or transmission network.
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📣 Euler Finance To Launch User Redemption Plan
DeFi lending protocol Euler Finance announced a user redemption plan following a severe attack last month. The fund recovered totaled around 95,556 ETH (95,556,36059211764 ETH) and 43.06 million DAI (43,063,729.35 DAI).The attacker delivered a total of 1,100 ETH to Tornado Cash and 100 ETH to the Ronin attacker, and the remaining 100 ETH was returned to the user directly by the attacker, and the user remitted 12 ETH to the Euler DAO vault.
The DAO vault address also has about 3.5 million (3,396,964) USDC and 1 million (1,007,321) DAI in insurance payments through the Sherlock protocol. Euler Finance intends to repay all liabilities when the protocol is disabled for each sub-account, at which point the on-chain oracle price (Uniswap or Chainlink, depending on the market) defined in the smart contract is used to determine the ETH value of assets and liabilities, and each asset of the account (non-collateral) is used proportionally to service the liability. On March 13, Euler Finance was victimized by a flash loan exploit, which robbed the protocol of $196.9 million in multiple cryptocurrencies.
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🟠 Changpeng Zhao: Crypto Industry Should Unite, Not Target Peers.
According to Zhao, bad news may be promoted by other exchanges, and rather than attacking one another, the business should band together. Zhao stressed the significance of business cooperation and mutual support, especially during difficult times. He also mentioned that Binance will continue to support the global adoption of cryptocurrencies and blockchain technology.
To summarize, while recent FUD has created some worry within the industry, Zhao’s statement serves as a warning that it is critical to remain united and focused on the larger picture of advancing the adoption of cryptocurrencies and blockchain technology. It’s worth noting that Zhao’s message isn’t just pertinent to the present circumstance; it also highlights a broader problem within the cryptocurrency business. There have been cases in the past of exchanges and other industry actors assaulting one another, often motivated by rivalry and personal interests.
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📣 Arbitrum Foundation Sold ARB Tokens Ahead of 'Ratification' Vote; ARB Falls
The Arbitrum Foundation began selling ARB tokens for stablecoins even before its governance community of tokenholders had "ratified" the organization's nearly $1 billion budget, according to a blog post from one employee early Sunday. The price of ARB fell after CoinDesk's report of the post, with the token falling to $1.17, down 9% in the last 24 hours.
According to Patrick McCorry, the Arbitrum Foundation – a centralized organization responsible for promoting Arbitrum, a faster and cheaper blockchain for transacting on Ethereum – thought of the omnibus governance package Arbitrum Improvement Proposal (AIP-1) as a "ratification" of decisions it had already made, such as receiving 7.5% of all ARB tokens. To that end, the Foundation "has begun to use these tokens in the interest of the DAO, including conversion of some funds into stablecoins for operational purposes,".
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🪙 34 Million Dogecoin Was Transferred Into Binance Amid CFTC Lawsuit
A large amount of $DOGE was transferred to Binance right during the time when the exchange encountered legal problems from the CFTC. In the past few days, a large amount of Dogecoin (DOGE) has been moved in the market. Whale Alert notes that a total of 350 million DOGEs were transferred between wallets. This amount amounts to more than 26 million USD.
A Whale Alert posted to Twitter revealed that 34,285,849 DOGE tokens worth $2.6 million were transferred to Binance via multiple wallets. The move comes as Binance is being sued by the Commodity Futures Trading Commission (CFTC). Ever since the CFTC sued Binance and CEO CZ, the exchange has seen massive crypto withdrawals throughout the week. The CFTC dealt a major blow to Binance with a lawsuit earlier this week. Since then, Binance has recorded over $2 billion worth of outflows, according to Watcher. In the meantime, approximately 34 million DOGE tokens have been transferred to Binance.
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📣 Stronghold Increases Hashrate Guidance To 4 EH/s As Bitcoin Mining Revenue Dropped 35%
Bitcoin Miner Stronghold announced to increase year-end hashrate guidance to 4 EH/s as bitcoin mining income fell 35% from the previous quarter. According to a Wednesday announcement, Stronghold Digital Mining (SDIG) increased its year-end bitcoin mining processing power prediction to 4 exahash/second (EH/s) from 3 EH/s. The company’s net loss increased 45% year on year to 74 cents per share in the fourth quarter.
The firm increased its 12-month sales expectation from $108 million to $129 million to between $94 million and $129 million. Mining profitability, as determined by hashprice, ranges between 7 and 10 cents per terahash/second (TH/s) every day. It previously said that it projected a hashprice of around 9 cents/TH/s. A million terahash is equal to one exahash. Revenue of $23.4 million in the fourth quarter was mostly driven by selling electricity to the power grid rather than crypto mining. In Pennsylvania, the miner owns two coal plants that employ coal waste, or heaps of the fossil fuel left over after the physical mining process.
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📣 Genesis CEO Gets Priority To Buy Crypto On FTX At Cheap Price
As reported by the Financial Times, people familiar with the matter revealed that the executives of crypto-lending company Genesis have the privilege of receiving FTX-backed crypto first. According to the initial disclosure that was FTT (FTX’s native token launched in 2019) and Serum (established in 2020 with FTX and Alameda support) before its public release, the founder of FTX Sam Bankman-Fried (SBF) has offered a discount to Genesis executives.
According to people familiar with the matter, the FTT and Serum tokens and Solana are also accepted by Genesis as collateral for the Alameda mortgage to secure its loans. After the collapse of FTX, Genesis has long been known as the primary source of funding for Alameda Research. At the same time, the DCG subsidiary is also the largest creditor of FTX and Alameda, with $226 million in debt, according to US bankruptcy court filings. Genesis halted customer withdrawals in November following the shocking collapse of FTX and has been in talks with creditors, and has been trying to secure new funding ever since.
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💰 Bitcoin Difficulty Increases for Third Time in Six Weeks, Miners Remain Undeterred With High Hashrate
On March 23, 2023, bitcoin experienced another difficulty increase, following two previous rises in the last month, jumping 7.56% higher. Currently, bitcoin miners have not been deterred by the increases, as the network hashrate has been coasting along at 346 exahash per second (EH/s). As of writing, there are more than 1,700 blocks left until the next difficulty retarget on April 5, 2023.
Despite the difficulty increase on March 23 at block height 782,208, the hashrate remains high, and block intervals are still faster than the 10-minute average. The April 5 change is expected to be about 6.9% higher, as block times have been between nine minutes and 21 seconds and nine minutes and 14 seconds. The increase at block height 782,208 was 7.56% higher than the difficulty over the previous two weeks. Prior to that, on Feb. 24, 2023, at block height 778,176, the difficulty rose 9.95%, and on March 10, 2023, at block height 780,192, the difficulty jumped by 1.16%.
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📣 Do Kwon Faces 5 Crimes Of Fraud After Getting Arrested
Hours after Terraform Labs founder Do Kwon was arrested by police in Montenegro, New York, federal prosecutors charged him with five criminal charges related to fraud. The petition also alleges that Do Kwon contacted a US trading and investment company representative for help in “changing the market price of UST” that the company had provided. This is also an allegation that the SEC made a similar allegation in its complaint last month.
Kwon was charged with conspiracy to commit fraud, commodity fraud, securities fraud, wire fraud, and conspiracy to manipulate the market, according to the indictment. In February, the US Securities and Exchange Commission (SEC) filed civil charges against Terraform and Do Kwon for defrauding investors and selling unregistered securities and stock swaps. According to previous news, the Minister of Interior of Montenegro Filip Adzic announced that Do Kwon was arrested by the police at Podgorica Airport in Montenegro earlier Thursday using forged documents. The Korean National Police Agency later confirmed his identity.
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🦊 MetaMask’s Latest Update Brings Seamless Crypto Purchases To Nigerian Users
In collaboration with MoonPay, a top web3 infrastructure company, ConsenSys, a leading software company for Ethereum and decentralized protocols, has announced an expansion of its MetaMask self-custody wallet offering in Nigeria. The new addition aims to provide a more seamless, faster, and cheaper experience for users in Nigeria, where purchasing and selling crypto using credit/debit cards has been challenging.
Nigeria has been steadily adopting grassroots crypto, with almost 12.4 million people, 5.7% of the country’s population, estimated to own crypto assets. Nigeria is also among MetaMask’s top markets globally, ranking third in mobile active users and among the top ten countries for visitors to metamask.io. With this expansion of MetaMask’s offering in Nigeria, Nigerian users will be able to access web3 more efficiently and obtain tokens more conveniently without setting up an account with a centralized crypto exchange. Lorenzo Santos, Senior Product Manager at MetaMask, said this expansion was an essential next step in a critical market.
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📣 Several Crypto Mining Operations Busted in Russia
Authorities and power utilities in various Russian regions have shut down illegal crypto mining farms, seizing hardware and taking operators to court. The action against the coin minting facilities comes amid discussions on a proposal to introduce criminal liability for miners breaking the upcoming legislation for the industry.
Police and power suppliers have uncovered and dismantled illegal crypto mining installations in Siberia and Southern Russia, local crypto news outlets reported this week, quoting authorities. In one of the cases, the organizers of a mining enterprise have been charged with stealing large amounts of electricity. Employees of Rosseti North Caucasus found a fairly large improvised mining farm in Shpakovsky district of the Stavropol Krai. Together with law enforcement, they confiscated 66 ASIC miners, the region’s power electric company announced on Friday.
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🏦 Bithumb Is Under Investigation For Illegal Virtual Asset Exchange Listing
The prosecution is also looking into the executives and staff of Bithumb for listing virtual currencies in return for money. On March 17, it was announced that, similar to the South Korean encryption exchange Coinone, workers of Bithumb, another South Korean encryption exchange, are being investigated by authorities for allegedly accepting money to list cryptocurrencies.
The Seoul Southern District Prosecutors Office’s Financial Investigation Division 2 seized and searched the office of Bithumb Holdings and the suspect Lee. The prosecution is looking into Mr. Lee, an employee of Bithumb Holdings, the parent firm of this virtual asset exchange, for listing a specific virtual currency on the exchange for money. The Seoul Southern District Prosecutor’s Office’s Financial Investigation Division 2 (Chief Prosecutor Chae Hee-man) is claimed to have seized and searched Bithumb Holdings’ office and her aunt’s house.
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🇺🇸 SEC Proposes To Vote On The New Law To Enhance Privacy And Cybersecurity
The Securities and Exchange Commission (SEC) will vote on new regulations and adjustments to strengthen cybersecurity, privacy, and technology infrastructure standards, which officials say may include cryptocurrency. The five-member panel will vote on cybersecurity, consumer financial information privacy, and technological infrastructure.
The agency will also decide whether to propose a new rule requiring brokers, clearinghouses, and other companies to have written procedures in place to address threats. The customer notification rule would give businesses no more than 30 days to notify individuals whose sensitive information was likely accessed without consent. The new rule would be added to the agency’s 24-year-old legislation overseeing financial institutions’ data privacy, which Gensler linked to rising claims of identity theft. In September, a subsidiary of Morgan Stanley agreed to pay $35 million to settle SEC allegations, according to Gensler.
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🟠 Rumor: Binance Borrowed CoinMarketCap To Buy Back CoinDesk
There are rumors that Binance is looking to borrow CoinMarketCap’s hand to buy the leading cryptocurrency news site CoinDesk. CoinDesk has been for sale since January 2023, when the parent company Digital Currency Group and lending branch Genesis were in crisis and were aggressively demanded money by creditors.
Digital Currency Group gives CoinDesk’s valuation as $300 million, but the actual figure could be much lower and is rumored to be around $75 million. According to a source from Blockworks, the market-leading cryptocurrency news site CoinDesk has been contacted by Binance Capital Management for possible acquisition. The source confirmed that Binance Capital Management is using CoinMarketCap as the agent to promote the CoinDesk acquisition agreement. Binance Capital Management is an entity registered in the British Virgin Islands, owning a subsidiary acquired in 2020 for $ 400 million, a crypto data statistics site CoinMarketCap.
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💰 Sushi Head Chef Jared Grey Reveals Details of SEC Investigation With 17 FAQs
Sushi Head Chef Jared Grey’s statement on the SEC’s non-public investigation into Sushi’s compliance with federal securities laws. Grey can only produce documents in his possession, custody, or control. Sushi Head Chef Jared Grey has received a subpoena from the U.S. Securities and Exchange Commission seeking documents and information relating to Sushi. The SEC’s investigation is a non-public, fact-finding inquiry trying to determine.
Morrison Cohen LLP, a law firm, represents only Jared and his employer, Internet Three Software Company, in connection with the SEC’s investigation concerning Sushi. At present, Morrison Cohen does not represent “Sushi” (as a community) or any other members of the Sushi community in connection with the SEC’s inquiry. Jared can only produce documents and information in his own possession, custody, or control. “Sushi,” as a DAO, consists of a software protocol and people around the world who use it in various ways. Jared can advocate for the interests of the Sushi community but cannot possibly “represent” the entire community.
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⚡️ BitMex’s Former CEO Arthur Hayes Reveals Secret To Crypto Fund Success
Arthur Hayes and Akshat Vaidya founded Maelstrom Capital to beat bitcoin and ether’s returns. Maelstrom is taking things slow, targeting infrastructure companies because “it makes sense in this part of the cycle.”. Arthur Hayes’ family office uses his crypto, so there’s no rush to deploy capital to earn management fees, allowing the firm to be patient. The goal is to identify quality projects instead of spraying investments everywhere.
Arthur Hayes thinks that clone projects will come, just like what happened in the COVID-19 bull market of 2020-2021, when clones of Uniswap, Compound, and Aave became flush with capital. Maelstrom’s goal is to have done the work during the bear market to identify which companies are genuinely valuable and which are just imitations. Maelstrom is willing to invest in a complete piece of [dog excrement] because that’s how crypto-tier returns are made when the market shifts from bear to bull. The projects that Maelstrom invests in now will likely come to a turning point around 2024, when the market starts to question whether these projects have fulfilled their promises.
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📣 Brazilian Investment Bank BTG Pactual Brings Out Dollar-Backed Stablecoin
BTG Pactual, one of Latin America's largest investment banks, has introduced a dollar-backed stablecoin through its crypto platform Mynt. The stablecoin, BTG Dol, is the world's first dollar-backed stablecoin issued by a bank, BTG Pactual said in an announcement on Tuesday. The São Paulo, Brazil-based bank said it is enabling clients to "dollarize part of their equity in a simple, efficient and secure manner."
BTG Dol is available for purchase starting from 100 real ($20) in the bank's crypto app Mynt, which it rolled out in 2021 and which now supports 22 cryptocurrencies. Unlike cryptocurrencies like bitcoin and ether, stablecoins are pegged to traditional financial assets like fiat currencies - usually the U.S. dollar. They allow investors and traders to keep their money in the digital asset ecosystem without being completely exposed to the volatility that are habitual with most cryptocurrencies. The market capitalization of stablecoins sits at around $133 billion with a 24-hour trading volume of nearly $39 billion, according to data by CoinMarketCap.
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🆘 Huobi And Gala Games File A Lawsuit Against pNetwork For Publishing $1B pGALA
According to official news, Huobi and Gala Games have contacted the legal team and will join hands with Gala Games to file a lawsuit against pNetwork for massively releasing pGALA supplements to recover the losses. Gala Games to file a lawsuit against pNetwork for the release of $1 billion of pGALA tokens last year to revoke the token’s losses and resolutely protect its own brand reputation and user interests.
Huobi said that all organizations and users affected by the pGALA incident are welcome to participate in the joint lawsuit against pNetwork. As per previous news, in November last year, pNetwork issued over $1 billion pGALA on the BNB chain and sold it on PancakeSwap, causing the token price to plummet as much as 97%. Gala Games believes that pNetwork’s negligence in causing security breaches and deliberate execution of the failed recovery plan caused further damage, negatively affecting Gala’s market perception. Games and the GALA Token, damaging the reputation of Gala Games and damaging Gala Games The relationship between the Games and the trading platform.
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💰 Bitcoin Miner Marathon Digital's CFO to Retire After One Year
Bitcoin miner Marathon Digital's (MARA) CFO Hugh Gallagher plans to retire from his role on May 12, about an year after he was appointed in the role. “With hash rate growing and becoming more stable and with the team now in a stronger position, I made the decision to retire," Gallagher said in a statement. He was appointed to the CFO role on March of last year.
The move comes as bitcoin miners have gone through a difficult year, with bitcoin prices sinking and higher energy prices driving up costs, which weighed on their profit margins. Marathon's stock price has fallen about 71% in last 12 months, while bitcoin fell about 40%, according to TradingView data. An external search for a new CFO is already in the process, the company said in the statement. Bitcoin miner Marathon Digital's (MARA) CFO Hugh Gallagher plans to retire from his role on May 12. Search for a new CFO is already in progress.
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📣 Stronghold Increases Hashrate Guidance To 4 EH/s As Bitcoin Mining Revenue Dropped 35%
Bitcoin Miner Stronghold announced to increase year-end hashrate guidance to 4 EH/s as bitcoin mining income fell 35% from the previous quarter. According to a Wednesday announcement, Stronghold Digital Mining (SDIG) increased its year-end bitcoin mining processing power prediction to 4 exahash/second (EH/s) from 3 EH/s. The company’s net loss increased 45% year on year to 74 cents per share in the fourth quarter.
The firm increased its 12-month sales expectation from $108 million to $129 million to between $94 million and $129 million. Mining profitability, as determined by hashprice, ranges between 7 and 10 cents per terahash/second (TH/s) every day. It previously said that it projected a hashprice of around 9 cents/TH/s. A million terahash is equal to one exahash. Revenue of $23.4 million in the fourth quarter was mostly driven by selling electricity to the power grid rather than crypto mining. In Pennsylvania, the miner owns two coal plants that employ coal waste, or heaps of the fossil fuel left over after the physical mining process.
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📣 Signature Orders Clients To Shut Down Crypto Accounts
Signature Bank, a New York-based bank, has reportedly given its clients with cryptocurrency funds until April 5 to withdraw their funds and find another bank. The FDIC confirmed on March 28 that the deposits belonging to digital asset clients were not included in New York Community Bancorp’s (NYCB) bid to buy most of the deposits and loans held by Signature Bank on March 19.
Depositors who have their accounts closed will receive a check to their registered address. This means anyone with funds held with Signature but unable to transfer them out should ensure that their registered address is up-to-date. It is important to note that while New York Community Bancorp (NYCB) bought most of the deposits and loans held by SB on March 19, the deal with the FDIC did not include “approximately $4 billion of deposits related to the former Signature Bank’s digital banking business.”. Also excluded from the deal was Signature’s payments platform Signet, which is powered by blockchain technology to facilitate real-time payments with no transaction fees or limits
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💰 Cardano Whales Make Waves With 204 Billion ADA Transaction
Cardano network witnessed a remarkable surge in transaction volume with a whopping 204 billion ADA coins transacted. The surge in transaction volume could be attributed to various factors. One of the potential reasons behind the spike in large transactions on the Cardano network could be the increased adoption of the platform’s smart contract capabilities. With more projects and developers building on Cardano.
Another possible explanation for the massive spike in transaction volume is profit-taking by investors. The recent uptrend in Cardano’s price has been a welcome change after months of lackluster performance, and some investors may be seizing the opportunity to realize gains while they can. This profit-taking could result in large transactions on the network, as investors move their ADA tokens to exchanges or other platforms to cash out. The heightened network activity could also be attributed to the anticipation of future developments within the Cardano ecosystem. With upcoming upgrades and partnerships in the pipeline.
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📣 zkSync’s Overall Transaction Volume Topped 20 Million After The Arbitrum Super Airdrop Ended
The amount of zkSync transactions has grown significantly, surpassing 20 million. According to Dune Analytics, the Ethereum L2 extension solution zkSync has had a transaction volume of around 2,025,135 this week, and the 7-day average transaction volume has reached a new high. The overall transaction volume has already surpassed 20 million. The technique is founded on zero-knowledge proofs, allowing for great degrees of confidentiality and secrecy.
One of zkSync’s primary features is the use of zero-knowledge proofs (ZKPs) to assure transaction integrity. ZKPs enable users to demonstrate that particular information is correct without disclosing any extra information. As a result, zkSync transactions are extremely safe and private. This Layer 2 solution is also noted for its rapid transaction speeds and cheap gas prices, making it an appealing alternative for anybody wishing to transact on the Ethereum network. Based on the on-chain data given by Nansen, users tend to be particularly interested in the retroactive capabilities of zkSync, a layer-2 solution that belongs to the zk-Rollups group on Ethereum.
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📣 Cathie Wood Accuses US Regulators Of Denying Citizens’ Access To Crypto Assets
In a recent tweet by Ark Invest CEO, Cathie Wood shared her views on why U.S. regulators are consistently blocking citizens from accessing crypto assets while they are transparent and auditable.In the sharing, Cathie Wood spoke of the central banking crisis skyrocketing after the collapse of Silicon Valley Bank. The administration had suggested that investors in regional banks should be prepared to be “wiped out”.
Earlier, the CEO of Ark Invest predicted that Bitcoin’s strength during the recent banking crisis would bring institutional investors who regulators have pushed away from centralizing their investments to pay attention to bitcoin on their balance sheet. Bitcoin is up almost 70% this year and 21% this month as small crypto-friendly banks like Silvergate and Signature have been lost along with Silicon Valley Bank. Even mainstream banks like First Republic and Credit Suisse were hit hard enough to require a significant rescue. This has led Cathie Wood to question why U.S. regulators prevent access to crypto assets when they are decentralized.
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🇧🇪 Belgian Regulators Introduce New Rules Requiring Crypto Ads To Warn Of Risks
Belgian regulator, the Financial Services and Markets Authority (FSMA), has announced new laws requiring accurate crypto ads and warning investors of the risks involved. The move follows a recent FSMA survey revealing that crypto investors in Belgium are often motivated by the prospect of making a quick profit, as per CoinDesk.
Under the new rules, any mass media campaign promoting digital currency must be submitted to the FSMA ten days in advance, allowing the regulator to intervene if necessary. The rules will take effect on May 17, and failure to comply could result in fines. The FSMA study found that the chance to make money quickly was the leading reason why people traded in virtual currencies, with investors seemingly undeterred by the volatility of the market or the collapse of major exchanges such as FTX. To combat the risks associated with crypto investing, ads must now include a warning that “the only guarantee in crypto is risk.”.
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📣 Former Coinbase CTO: The Oncoming Crisis Will Push Bitcoin Value To $1 Million
Former Coinbase CTO Balaji Srinivasan wagered $2 million that Bitcoin will reach $1 million in 90 days. Balaji Srinivasan’s wager comes with investor James Medlock, after James Medlock offered a $1 million bet predicting the US won’t plunge into hyperinflation despite the near-collapse The following is a list of banks in the United States.
Balaji Srinivasan clarified his stance and reasoning for betting with James Medlock in a tweet on his personal Twitter on March 17: According to Balaji Srinivasan, the current condition of US banks is identical to the 2008 crisis, except this time central banks and regulators have fooled all holders and sent USD. The former Coinbase CTO believes the oncoming crisis will cause the US currency to depreciate, and that people, corporations, and major funds would acquire Bitcoin to hedge against hyperinflation in the next weeks, driving up the price of BTC to $1 million USD.
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📶 Over 600K Addresses Qualified For Arbitrum Airdrop With 1,895 Tokens On Average
A recent report by Blockworks Research has revealed that over 600,000 addresses were eligible for the Arbitrum airdrop, accounting for 23.5% of the total addresses. The average airdrop size was 1,895 tokens, with 625 making up the main proportion, accounting for 16.8% of the total airdropped tokens. Offchain Labs CEO Ed Felten has stated that the tokens reserved for insiders will be subject.
Arbitrum, a Layer 2 scaling solution for Ethereum, is set to have a total circulation of 10 billion tokens. Of that total, the Arbitrum community will control 56%, with the remaining 44% going to investors and employees of Offchain Labs, the development firm behind the platform. The airdrop will grant eligible Arbitrum users 11.5% of the total supply, while DAOs operating in the Arbitrum ecosystem will receive 1.1%. The remaining community tokens will be held in a treasury controlled by the new Arbitrum DAO, with ARB holders having the power to vote on how the funds should be disbursed.
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📣 TRU Price Rose 20% When Fee For Trading Pairings Other Than BTC/TUSD Was Announced.
Binance announced the end of the free BTC trading promotion, however it still applies to the BTC/TUSD pair. Although Binance does not yet collect fees for trading Bitcoin, it does so for deals involving Bitcoin and Tether USD. Because of this move, the price of TRU rose by more than 20% in less than an hour. Binance celebrated the fifth anniversary of its founding by introducing free trading of bitcoin.
According to the release, only the BTC/TUSD pair is now free to spot; the remaining pairs will all begin charging the regular transaction cost from 7:00 a.m. on March 22, 2023. This action demonstrates that Binance is “pivoting” to stablecoin TUSD after terminating its association with BUSD because to Paxos’ legal issues with US authorities. Binance a great deal of criticism. Despite this, the floor has maintained its 0 dong fee ever since. On the other hand, Binance made an unexpected announcement on March 15, 2023, stating that free Bitcoin trading will be halted.
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⚡️Layer-2 Aztec Solution Eliminates The Connect Security Bridge Due To Regulatory Demands
Project for a Layer-2 solution Ethereum Due to regulatory demands on the “mix transaction” functionality, Aztec submitted a notification to permanently close the Connect security bridge. One week after the notification, deposits to smart contracts made using Aztec Connect products like as zk.money and zkpay.finance would be denied.
On March 13, Aztec Network, a layer-2 Ethereum solution that has evolved toward zk-rollups and is primarily concerned with the confidentiality of transactions, announced that it would be decommissioning a crucial part of the jigsaw puzzle. The Connect security bridge is what the infrastructure consists of in this case.The project issues a warning that deposits to smart contracts made using Aztec Connect products, such as zk.money and zkpay.finance, will be blocked one week after the news is made. Nonetheless, customers will be able to continue making cash withdrawals for one more year, until March 21, 2024.
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