Tag: crypto news

News

Argentina Passes “Bitcoin Usable for Commercial Settlements,” Crypto-Enthusiast President Vows to Build Crypto Paradise

Incoming Argentine President Javier Milei once again demonstrated his determination to shut down the Central Bank of Argentina (BCRA) on the X platform, stating that it is a non-negotiable matter. He also mentioned ongoing discussions with the International Monetary Fund (IMF) regarding Argentina’s fiscal adjustment plan and monetary policy in search of solutions to address the country’s economic woes.

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Bitcoin

DEMAND launches Bitcoin Stratum V2 mining pool for enhanced mining.

DEMAND announced its unique mining pool built on the open-source Stratum Reference Implementation (SRI), aiming to decentralize bitcoin mining and enhance security. The launch introduces valuable tools and opportunities for solo miners, allowing them to compete against the network and earn block rewards and transaction fees. Plans for pooled mining options are also underway to further support decentralization.

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News

Immortal – Chess app ceases play-to-earn functionality due to significant cheating incidents.

Immortal, a play-to-earn chess app with cryptocurrency integration, ceased its financialized crypto features due to rampant cheating. Despite a successful funding round and NFT marketplace, NFT values plummeted post-closure. The platform will continue using Web3 tech for anti-cheat measures. This setback underscores the challenges faced by the “play-to-earn” model. Arbitrum, an Ethereum layer-2 scaling solution, also experienced a significant outage due to transaction volume overload.

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Bitcoin

US Court Officially Confiscates Nearly 70,000 BTC from the Silk Road Case, Adding to the National Treasury

The US court has ordered the confiscation of 69,370 bitcoins and other cryptocurrencies linked to the infamous Silk Road. A mysterious individual known as “X” assisted in seizing these funds, now under US government control. The dark web marketplace, Silk Road, founded by Ross Ulbricht, facilitated illegal transactions and has resulted in significant cryptocurrency forfeiture.

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Crypto

Settlement Between Binance and CFTC Approved by US Court

The U.S. District Court for Northern Illinois has approved a settlement in the Binance case, with former CEO Changpeng Zhao fined $150 million and Binance facing a $2.7 billion penalty for violating the Commodity Exchange Act and CFTC regulations. This resolves a legal dispute involving allegations of evading federal law and operating an illegal derivatives exchange.

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Ethereum

SEC Delays Decision on Multiple ETH ETFs to May 2024

The SEC has postponed decisions on Ethereum-based ETFs, extending the deliberations to May 2024. The delay affects proposals such as the Hashdex Nasdaq Ethereum ETF, Grayscale Ethereum Futures ETF, VanEck spot Ethereum ETF, and an ARK Invest and 21Shares joint proposal. The SEC aims to gather public input, emphasizing meticulous examination and public engagement before reaching a final decision. Analysts foresee final decisions by late May, while the crypto sector eagerly awaits potential approvals for 13 spot Bitcoin ETFs.

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NFT

The share of decentralized finance (DeFi) in the cryptocurrency market witnessed an 18% increase in November

In November, DeFi’s market share grew by 18%, reaching 4.44%, driven by projects like THORChain and Uniswap. Total value locked in DeFi protocols rose by 14%, expected to surpass $50 billion. Ethereum dominates with over 56% TVL share. Liquid staking hit $27 billion, largely from Lido Finance. The cryptocurrency market cap jumped from $1.28 trillion to over $1.6 trillion in December.

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