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20 февраля 2023 06:58

🪙 Binance US May Suffer US Congressional Investigation For Secret Trade Of $400 Million

The US Congress should hold an investigation into Binance US for its links to Merit Peak, according to a statement from a senator cited by Reuters yesterday, according to CryptoSlate. Senator Roger Marshall has proposed opening an investigation into Binance US’s relationship.

The action comes after media outlet Reuters reported that Binance.US had sent $400 million from accounts at Silvergate Bank to merchant Merit Peak in 2021. Merit Peak has appointed Binance CEO Changpeng Zhao as its manager. Binance and Binance US have declared separate operations since 2019. Therefore, the above transactions imply that CZ has a financial connection that may not be suitable for Binance in the US. despite multiple claims in the past that the two organizations are independent of each other.

Source

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18 февраля 2023 05:50

🪙 Ethereum Discovered A Critical Bug On Tesnet Ahead Of Shanghai Hard Fork

Several problems were discovered during testing on Ethereum’s Zhejiang testnet prior to the Shanghai hard fork. However, none of them interfered with the implementation of ETH staking withdrawals. The developers will also be adding a Hive test for this case.

Tim Beiko, a core developer for Ethereum, claims that this flaw can be “patched quickly.” He said that the test is “easy” for the engineers. The developers will also provide a Hive test just for this scenario. Client Memory and CPU use spiked, and engineers will assess the ratio of lost to recorded credential update notifications over the next several days, according to Beiko. A stress test involving 600,000 validators, 360,000 of whom updated withdrawal credentials at the time of the fork.

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16 февраля 2023 05:23

📣 Napster buys web3 music startup Mint Songs

Napster, the streaming service best-known for the peer-to-peer audio file-sharing platform it operated in the early 2000s, is buying music startup Mint Songs. The company, which was acquired last year by Hivemind and Algorand, is making a play at web3 by using the startup's experience.

Mint Songs, which developed tech to allow artists to mint songs and offer fans other NFT items, said on Twitter that it was winding down in September last year and would not mint new NFTs on its Mint Songs Factory (Polygon) and Mint Songs V2 (Ethereum). The company worked with artists like Gramatik, Mark de Clive-Lowe and Black Dave. It had previously raised $4.3 million from investors like Freestyle Capital and Castle Island Ventures. Napster didn't disclose the value of the acquisition.

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14 февраля 2023 06:14

🦊 Hackers target domain registrar Namecheap for crypto phishing campaign

Domain name registrar Namecheap's email account was breached, resulting in a widespread phishing campaign aimed at stealing crypto from potentially thousands of its users. The attack was traced back to SendGrid, the email platform used by Namecheap.

After compromising Namecheap's SendGrid, the perpetrator sent fake emails on behalf of Namecheap to its users purporting to be from delivery firm DHL or crypto wallet MetaMask. The phishing email claiming to be from DHL appeared as a delivery fee invoice, while the MetaMask phishing email stated that KYC verification was necessary to avoid suspension of users' wallets. their private key or secret recovery phrase, which the attackers could then use to steal the funds from their wallet.

Source

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12 февраля 2023 06:36

💰 FTX Facilities Are Up For Sale, Including 13 Storage Units And $2.4 Million In Cars

A half-million dollars worth of office furniture and equipment, as well as 13 storage facilities in the Bahamas containing FTX’s “physical products,” are expected to hit the market soon. Everything in the business’s Bahamas headquarters, which had its locks changed and is now secured on site, will also be put on the market.

Although there is little likelihood of discovering unique valuables, that office equipment and whatever is in the storage lockers will soon be available for purchase, according to a report from liquidators entrusted with sorting through the collapsed cryptocurrency exchange’s remaining assets. Everything in the business’s Bahamas headquarters, which had its locks changed and is now secured on site, will also be put on the market. According to the article, liquidators have also requested the transfer of $46.7 million in USDT.

Source

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10 февраля 2023 09:48

🏦 Coinbase's Armstrong says staking restrictions would be 'terrible path for the U.S.'

Coinbase CEO Brian Armstrong used a Twitter thread to warn about what he said would be a "terrible path" for the U.S. if it were to restrict crypto staking in the country. "We're hearing rumors that the SEC would like to get rid of crypto staking in the U.S. for retail customers," he wrote in a thread on Twitter.

Securities and Exchange Commission Chair Gary Gensler raised eyebrows last year after Ethereum's proof-of-stake transition when he hinted that the commission could classify tokens in proof-of-stake networks as securities. Armstrong said Wednesday that it was important that companies are encouraged to grow in the U.S. and not be stifled by a lack of clear rules."Regulation by enforcement doesn’t work. It encourages companies to operate offshore, which is what happened with FTX."

Source

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08 февраля 2023 05:51

📣 The Korean Government Dispatched Agents To Serbia To Find Do Kwon

South Korean authorities have deployed investigators to Serbia, where Terraform Labs CEO Do Kwon is alleged to be currently residing. Do Kwon continued to post remarks on Twitter questioning the authorities, claiming that he did not flee but did not want to surrender.

According to reports on February 7, South Korean dispatched a mission to Serbia last week to find Do Kwon, the CEO of Terraform Labs, the firm behind two cryptocurrencies that failed in 2022, Terra. LUNA) and stablecoin UST. The delegation includes prosecutors from Seoul, where the Do Kwon investigation is being conducted, as well as members from the South Korean Ministry of Justice. Do Kwon’s passport was later revoked, and Seoul officials requested that the International Criminal Police Organization (Interpol).

Source

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06 февраля 2023 04:33

🪙 StarkWare to Open Source Its Ethereum Scaling Solution

StarkWare revealed plans to open source its Ethereum scaling technology stack.StarkWare announced today that it plans to open-source its STARK Prover – the engine that’s designed to generate cryptographic proofs that compress hundreds of thousands of transactions for submission to Ethereum in fewer kilobytes than a smartphone photograph.

According to the press release shared with CryptoPotato, the plan will take time to implement, but when it’s complete, the Starknet technology stack will be open source. This is also the technology that powers Starknet and StarkEx – solutions that have reportedly scaled more transactions on Ethereum than all other L2 scaling solutions combined. StarkWare – a company focused on Ethereum scaling – will open-source its Zero-Knowledge (ZK) software. This is a landmark moment for scaling Ethereum, and in a wider sense for cryptography.

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04 февраля 2023 05:17

📣 Core Science Bitcoin Miner Pays $38.6 Million Debt To NYDIG Creditors

Core Science delivered approximately 27,403 miners to creditor NYDIG to fulfill its $38.6 million debt. The operation is part of a plan to sell some mining equipment to recover funds from creditors. those devices are no longer needed for their current and future business.

Bitcoin mining company Core Science has agreed with lender NYDIG to repay its $38.6 million outstanding debt by handing over approximately 27,403 mining machines as collateral. “The principal amount of the NYDIG’s debt exceeds the value of the primary collateral. Core Science is also “looking at the opportunity to sell some of its mining facilities,” which would limit the device’s footprint. Core Science representatives told a bankruptcy court meeting on Wednesday that its cash flow has improved “significantly”.

Source

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02 февраля 2023 06:38

📣 Toyota Will Use The DAO Hackathon To Examine Possible Uses For Blockchain

The first Web3 hackathon was announced by the multi-chain smart contract and decentralized application (dApp) network Astar on February 1. But the significant news was that Toyota Motor Corporation is funding it. Sota Watanabe, the creator of the Astar Network, offered the following insight on the importance of Toyota’s participation in the project.

The international automaker is hosting its first Web3 event as it looks to cutting-edge technology to “help its ambition of strengthening the company’s operations,” according to the release. The Astar Foundation has committed $100,000 in support for the occasion, which will go toward prizes for Toyota-selected winning projects. Toyota has previously experimented with cryptocurrencies and blockchain technology. Toyota’s IT division collaborated with the Japanese cryptocurrency exchange DeCurret to create a branded digital token in 2020.

Source

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31 января 2023 07:13

🏦 Gemini’s Crypto Exchange Is Being Investigated By New York Regulator For FDIC Claims

According to Monday Axios story, the New York Department of Financial Services (NYDFS) is looking into the statements made by the cryptocurrency exchange Gemini regarding the security of its users’ money. Gemini stopped accepting withdrawals from its Earn product due to the effects of the demise.

According to reports, Gemini regularly asserted last year that the Federal Deposit Insurance Corporation’s backing ensured the safety of the assets of consumers utilizing its Earn program (FDIC). Financial companies are not allowed to indicate that a product is FDIC-insured when it is not. The platform is thought to have about $900 million frozen as a result. The stoppage was attributed by Gemini to a similar freeze at the now-defunct cryptocurrency lender Genesis, a division of the blockchain giant Digital Currency Group.

Source

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29 января 2023 06:32

🏦 Coinbase stock surged 90% in January

The value of Coinbase’s stock (COIN) rose nearly 90% over the past month. As of Jan. 27, 2023, COIN’s market value was $61.47. That represents an 88.27% price increase from Dec. 27, 2022, when the asset was valued at $32.65. As such, it represents an approximate three-month high.

Coinbase’s recent performance is likely due to its strong and lasting reputation within the crypto industry. The company has been in operation since 2012 and regularly publishes reports.on its finances. As such, Coinbase has managed to maintain a certain amount of trust, even amidst the collapse of FTX and various other companies. Coinbase also settled with the NYDFS this month for $100 million, half of which the company will spend on compliance improvements. Though the case against Coinbase is not good news in and of itself.

Source

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27 января 2023 06:35

🇦🇪 Deribit seeking Dubai license to maintain crypto options dominance

Crypto exchange Deribit is setting up shop in Dubai as it works to execute on a new strategy aimed at maintaining its dominance in the crypto options market, the exchange confirmed to The Block. The Dubai office will house staff including management, compliance and support roles.

The move to secure a license in Dubai is part of a broader push by the firm to instill greater confidence in its exchange in the wake of the meltdown of defunct derivatives exchange FTX. The firm also plans to secure a top four auditing firm and release proof of reserves snapshots on a daily basis. "Clients want checkboxes, check for audit, check for custody, check for license," Strijers said. Deribit's marketshare in bitcoin options stands above 90%, according to The Block's data dashboard.

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25 января 2023 06:09

🏦 Kraken hires Blockchain.com's former chief compliance officer

Crypto exchange giant Kraken has hired C.J. Rinaldi as its chief compliance officer. Jesse Powell, Kraken's CEO of over 11 years, stepped down on Sept. 21, 2022, and the firm's COO David Ripley assumed the CEO role. Kraken laid off 30% of its workforce on Nov. 30, 2022.

Kraken saw $13.8 billion in monthly crypto exchange volume in December, comprising 2.95% of all crypto exchange volume for the month, according to The Block's Data Dashboard. Rinaldi helped mitigate Blockchain.com's risk and expand its global compliance framework. Before Blockchain.com, Rinaldi worked at Deutsche Bank as chief compliance officer, and prior to that as senior counsel in the Enforcement Division of the U.S. Securities and Exchange Commission.

Source

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23 января 2023 05:45

🇦🇪 UAE Promises Enhances Role Of The Crypto Industry In 2023

According to Thani Al-Zeyoudi, the UAE’s minister of state for international trade, cryptocurrencies will go on to play a “major role” in the worldwide trade of the United Arab Emirates. cryptocurrency market would have a significant impact on future UAE commerce while speaking about it.

Al-Zeyoudi presented a number of updates on the UAE’s trade ties and policies going into 2023 in an interview with Bloomberg on January 20 in Davos, Switzerland, where world leaders are presently assembled for the 2023 World Economic Forum. As he said that the essential thing is to maintain global governance when it comes to cryptocurrencies and crypto enterprises, the minister said in reference to the cryptocurrency industry that crypto will play a big role in UAE commerce moving the future.

Source

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19 февраля 2023 04:57

🆘 Dexible Exploited By Hackers Causing Damage $2 Million

Early on Friday, the decentralized exchange aggregator Dexible was the victim of a $2 million hack, according to an announcement the protocol updated on its Discord channel. Blockchain data reveals that BlockTower Capital, an investing company for digital assets, was one of the victims.

The Dexible front end displays a popup warning about the vulnerability anytime users visit it as of 6:35 pm UTC on February 17. According to a tweet from Dexible, the hacker was able to drain assets from cryptocurrency wallets containing funds that had been authorized for use by taking advantage of a flaw in the smart contract code. Around 4:00 pm UTC, a post-mortem report was published as a PDF file and made available on Discord. The team also stated that it was currently working on a remedial plan.

Source

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17 февраля 2023 06:51

📣 FDIC Denies Money Insurance For Cryptocurrency Exchange CEX.IO

The Federal Deposit Insurance Corporation (FDIC) has sent a cease-and-desist letter to CEX.IO instructing it to stop saying that U.S. dollars kept in its fiat currency wallets are FDIC-insured. CEX.IO is a cryptocurrency exchange located in Naperville, Illinois.

The organization said that a statement on CEX.IO’s website, “U.S. dollars held in your CEX.IO fiat currency wallet are FDIC-insured up to $250,000 per account” is false. No insured depository institution (IDI) or institutions are specified in conjunction with this statement, this organization pointed out in its letter, and neither are any qualifications, explanations, or limits expressed in connection with this assertion. This organization also pointed out that other websites had incorrectly stated that the FDIC insured CEX.IO.

Source

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15 февраля 2023 08:18

🚨 Wormhole Hacker Moves $46 Million In Stolen Money

Another $46 million in stolen assets have just been transferred from the hacker’s wallet, wormhole hacker according to on-chain statistics, which shows that the stolen cryptocurrency from one of the biggest exploits in the industry is in motion once more.

In February 2022, Wormhole’s token bridge was attacked, leading to the third-largest cryptocurrency breach of the year. In the incident, wrapped ETH (wETH) valued about $321 million, was taken. PeckShield, a blockchain security company, reports that the hacker’s connected wallet has been reactivated and has just transferred $46 million in cryptocurrencies. This was made up of 3,000 Rocket Pool Ethereum staking tokens (rETH) worth $5 million that were transferred to MakerDAO.

Source

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13 февраля 2023 06:37

💰 Shiba Inu And 3 Cryptocurrencies Have Been Added To Binance’s List Of Verified Digital Assets

Shiba Inu (SHIB) and three other altcoins are going to be added to the list of verified cryptocurrencies that are traded on the world’s largest cryptocurrency exchange by volume. Investors should anticipate that Binance will add further digital assets to its POR list in the coming weeks.

Binance also announced that it will be providing support for four alternative cryptocurrencies, namely Shiba Inu SHIB, Polkadot (DOT), Solana (SOL), and Chiliz (CHZ). Binance is thrilled to unveil zk-SNARK, a zero-knowledge verification method that keeps sensitive information private and more secure, for its proof of reserve (POR) verification system. This is part of our ongoing efforts to give transparency regarding user money. Binance announced that it will be enhancing the information protection capabilities of its proof-of-reserve identification system.

Source

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11 февраля 2023 06:08

🏦 Coinbase’s Staking Service Is Not A Security And Not Affected By The SEC

Coinbase insists Coinbase’s staking service is not a security amid tightening SEC investigation and cancellation of Kraken’s staking service with a $30 million fine. Coinbase will not be affected by news of Kraken being sanctioned by the SEC for translating their staking.

Coinbase’s chief legal officer said in a statement that Coinbase’s commitment plan will not be affected by yesterday’s Kraken news, the Bloomberg. As mentioned in an earlier Coincu News article, the U.S. Securities and Exchange Commission (SEC) is apparently looking into whether crypto exchange Kraken is in violation of any rules regarding the crypto exchange Kraken. the sale of securities or not. Kraken has “immediately” terminated its crypto commitment service provided to US customers and will pay a $30 million fine.

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09 февраля 2023 06:44

🪙 BGD Labs Announcing Integration Of Chainlink Proof Of Reserve Onto Avalanche

In order to increase lending market transparency and on-chain verification, Chainlink’s Proof of Reserve feature is now accessible on the Aave lending platform running on the Avalanche blockchain. Aave has enabled over $2 trillion in transaction volumes in 2022 alone because of Chainlink oracles.

The integration will enable transparency for tracking the financial health of liquidity pools on the Avalanche-based Aave platform that contains wrapped tokens like AAVE.e, DAI.e, LINK.e, WBTC.e, and WETH.e were driven by BGD Labs, a development company specializing in the Aave ecosystem. For many Ethereum-based coins that can later be utilized on Aave, Avalanche relies on bridging. The bridging procedure involves wrapping, which is the locking up of a certain number of tokens and issuing an equivalent number of tokens on Avalanche.

Source

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07 февраля 2023 05:50

🪙 BNB Chain looking to grow, remain competitive in 2023: Messari

BNB Chain is aiming to be competitive in 2023, following a tumultuous year for crypto markets, Messari said. The blockchain network will focus on growth strategies and new tech developments, including scaling solutions and boosting throughput, along with implementing Ethereum Virtual Machine.

The team plans to expand the network with L2-like solutions, such as ZK-rollups and sidechains, and to increase decentralization by open-sourcing the validator set,” the report said. “Despite several challenges along the way, BNB Chain successfully executed its 2022 roadmap ... After a dramatic year with many challenges, BNB Chain looks to remain competitive heading into 2023. Daily active addresses on the blockchain network rose in 2022, while average daily transactions remained steady at approximately 3.4 million per day.

Source

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05 февраля 2023 05:55

📣 Ethereum Restaking EigenLayer Is Now Raising $50 Million In Series A Funding

EigenLayer, an Ethereum restaking protocol that has yet to deploy, is raising $50 million in a Series A fundraising round, according to The Block and two persons familiar with the situation. When the Series A round is finished, EigenLayer’s total funding will be roughly $65 million.

According to the sources, the round will provide EigenLayer with a $250 million post-money equity valuation and a $500 million token valuation or fully diluted valuation (FDV). The total value of a project assuming all of its tokens are in circulation is referred to as FDV. EigenLayer was developed in 2021 by Sreeram Kannan, an assistant professor at the University of Washington in Seattle who directs the information theory lab, which focuses on information theory and its applications in communication networks, machine learning, and blockchain systems.

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03 февраля 2023 06:11

🦊 MetaMask rolls out updates to privacy settings for new and existing users

Ethereum wallet provider MetaMask introduced new security and privacy functions for new and existing users, while making it easier for them to change their RPC providers. MetaMask has introduced a range of features that the project says will give users more control over their data.

To do so, MetaMask said new users can go to “set advanced privacy settings” to change their RPC provider. Existing users can find this option under “settings,” the announcement added. This update comes after ConsenSys came under some scrutiny for collecting MetaMask user data via Infura. ConsenSys is an Ethereum software company that owns both MetaMask and Infura. This admission threw up privacy concerns from crypto participants.

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01 февраля 2023 07:16

📣 Co-signers of Bankman-Fried’s $250 million bond a step closer to becoming public

The names of two people who co-signed for disgraced FTX founder Sam Bankman-Fried’s bond are one step closer to becoming public after a federal judge granted a motion to unseal their names. The identities could be made public next month.

Bankman-Fried has pleaded not guilty to a litany of criminal charges, including fraud, and is awaiting an October trial. His parents, Joseph Bankman and Barbara Fried, co-signed his $250 million bond in December. A pair of additional signers, whose names have so far been redacted, also signed lesser bonds for $500,000 and $200,000. News organizations argued that the public has a right to the information, while Bankman-Fried’s lawyer has said the signers might face threats and harassment if their identities are revealed.

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30 января 2023 07:24

📣 Core Scientific Filed An Emergency Motion To Fire-Sell $6.6 Million In Bitmain Coupons

Core Scientific submitted a proposal on January 28 to sell $6.6 million worth of Bitmain coupons to settle its obligations. With Bitmain and two other potential bidders who could be interested in the sale, the now-bankrupt US-based Bitcoin miner has been in communication.

According to the complaint, certain restrictions placed on the vouchers render them unusable for Core Scientific’s operations. In particular, the coupons cannot be redeemed for cash and can only be used to pay 30% of any new order of S19 Miners from Bitmain. Additionally, the Bitmain coupons are scheduled to expire in March or April 2023, when the business expects to have exited from its Chapter 11 restructuring. Additionally, Core Scientific stated that it would not purchase any more S19 Miners either during or after Chapter 11.

Source

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28 января 2023 05:28

🇰🇷 Bithumb’s Owner Was Requested By Prosecutors In South Korea For An Arrest Warrant

Kang and two Bithumb executives were convicted under the Act on the Aggravated Punishment of Specific Economic Crimes by the Financial Investigation 2nd Division of the Seoul Southern District Prosecutor’s Office on allegations of embezzlement and breach of trust.

Investigators are looking into charges of misappropriation by Bithumb’s leaders at one of the country’s top cryptocurrency exchanges. South Korean authorities sought an arrest warrant for Kang Jong-Hyun, the chairman and owner of this bitcoin exchange, on January 25, according to local news site Infomax. Kang is wanted on suspicion of embezzlement in connection with his operations at the exchange. Concurrently, Kang is being investigated for allegedly manipulating the stock prices of this exchange affiliates Inbiogen and Bucket Studio through the issuing of convertible bonds.

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26 января 2023 06:56

🆘 Digital Currency Group's Luno cuts 35% of staff

Luno, the crypto exchange owned by Digital Currency Group, reduced its workforce by 35%. The London-based firm told employees about the layoffs earlier today. Luno had a total headcount of 960, meaning over 330 jobs will be lost as a result of the cuts, CNBC reported earlier.

DCG has come under increasing pressure over the past year as the crypto downturn intensified amid a turbulent macroeconomic backdrop. The collapse of crypto hedge fund 3AC in June and the failure of FTX in November exacerbated the firm's underperformance. The company said that customers and operations would not be impacted. DCG and Luno did not immediately respond to a request for comment when contacted by The Block.

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24 января 2023 06:52

🪙 Developers finalize first 'shadow fork' for Ethereum's Shanghai upgrade

Developers successfully launched a "shadow fork" of the Shanghai upgrade to test it on a version of the main Ethereum network. A shadow fork is a test version of the actual mainnet, allowing developers to see if a piece of code from the proposed upgrade.

Shanghai, withdrawals will be launched on the mainnet in March, enabling users to access their staked coins that were made temporarily inaccessible during the transition known as "The Merge" in September. While the main feature will be withdrawals, developers have finalized three other improvements aimed at optimizing gas costs for certain activities. Developers are considering a public test network before the end of February, which would onboard staking firms to test the Shanghai upgrade.

Source

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22 января 2023 05:18

🆘 Genesis Has Stated Their Intention To Emerge From Bankruptcy By May 19

Genesis Global, a lender specializing in encryption, anticipates being able to conclude its bankruptcy processes within the next four months.The company has claimed that it is examining a number of options in order to serve Genesis customers.

According to documents submitted to the United States Bankruptcy Court for the Southern District of New York, cryptocurrency lender Genesis Global Capital is making preparations to emerge from bankruptcy on or around May 19. Gemini users are impacted in some way by the solutions that were developed in Chapter 11. The firm has stated that it is considering a variety of alternatives in order to provide customers of Genesis and users of Gemini Earn with the most favorable conclusion possible.

Source

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