Author: CryptoHoppers
The Paraguayan legislature is urgently pushing a bill that, if passed, could mean up to a decade behind bars for illegal Bitcoin miners due to the large amount of electricity pilferage jeopardizing the state-backed National Electricity Administration. The proposed legislation enables Paraguayan law enforcement and legal officials to confiscate and auction off mining machines from unlawful operations to safeguard ANDE from energy theft, which results in substantial financial damage. Despite this crackdown, authorities have already seized over 5,000 ASIC miners this year alone. Additionally, lawmakers are also speculating on imposing a brief ban on all Bitcoin mining in the country…
The post Fantom Foundation Introduces Sonic Network appeared first on Coinpedia Fintech News The Fantom Foundation has announced Sonic Network, a new layer-1 blockchain connected to Ethereum through a native cross-chain bridge. FTM token holders can migrate to Sonic’s $S token at a 1:1 ratio, representing Fantom 2.0. Additionally, the Sonic chain pledges to provide improved performance with 2,000 TPS and single-second finality. Fantom will also support the transition with substantial funding for ecosystem development and governance votes to ensure community support. However, the existing Opera network will continue to receive support during this transition. Source link
A hacker exploited Gala Games’ smart contract, minting 5 billion tokens worth $200 million, with part converted to Ethereum. The post Gala Games hit by $200 million in possible inside job appeared first on Crypto Briefing. Source link
The value of ethereum (ETH), the second-largest cryptocurrency by market capitalization, has increased nearly 18% against the U.S. dollar due to speculation that the U.S. Securities and Exchange Commission (SEC) might approve some spot ether exchange-traded funds (ETFs). Market Buzz Lifts Ethereum to $3,691 On Monday, ethereum (ETH) reached an intraday peak of $3,691 per […] Source link
Heading into the year 2024, Bitcoin spot ETFs (exchange-traded funds) and the halving event were arguably the biggest narratives in the crypto space. The Securities and Exchange Commission (SEC) approved the first BTC spot products in the US early on, driving the coin’s price to a new all-time high. The halving event, on the other hand, has not exactly led to the highly-anticipated positive run for the Bitcoin price, which has rather struggled over the past few weeks. The premier cryptocurrency has witnessed a steady increase in its value over the past few days, slightly nullifying the period of stagnation…
The Hashgraph Association (THA), the Swiss-based organization at the forefront of global digital enablement, signed a strategic partnership with the Qatar Financial Centre to launch a Digital Assets Venture Studio, a platform to support local Qatari and international portfolio companies in the development of regulatory-compliant decentralized finance (DeFi) solutions and digital assets built on the Hedera Distributed Ledger Technology (DLT) network. The $50 million digital assets venture studio will focus on investments in Hedera-powered Web3 startups and enterprises building bankable DeFi solutions. The program will span over the next five years (2024-2028) with The Hashgraph Association investing $10million (20%). The…
Share this article Bankrupt crypto lending company Genesis Global Holdco received court permission to return approximately $3 billion in cash and crypto assets to its creditors as part of its bankruptcy liquidation process on Friday. US Bankruptcy Judge Sean Lane made the decision.In addition, Judge Sean Lane rejected Digital Currency Group’s (DCG), attempt to challenge the distribution plan for the debtors’ assets in the bankruptcy case.DCG objected to the distribution plan as it believes repayments should be capped at the crypto asset values of January 2023 (at the time of Genesis’ bankruptcy filing). Since then, the value of cryptos like…
Bitcoin is expected to trade within a narrow range this quarter, according to Michael Novogratz, founder of Galaxy Digital Holdings Ltd. “Bitcoin, ethereum and everything else, solana will consolidate,” he said last week, adding that it means BTC will probably trade “somewhere between $55,000 and $75,000 until the next set of circumstances, the next set […] Source link
zkSync, a zero-knowledge (ZK) roll-up technology project, has announced its governance token airdrop scheduled for the end of June. The excitement over this airdrop has been building up since March of last year when investors moved over $8 million worth of tokens to zkSync to be eligible. As per DefiLlama, the total value locked (TVL) in zkSync has risen to $141 million. The forthcoming release of version 24 (v24) is the last protocol upgrade required for transferring network governance to the community. zkSync posted on X: “The upcoming release of v24 is the final planned protocol upgrade needed before handing…
Share this article In contrast to the enthusiasm that preceded the approval of spot Bitcoin ETFs, reports over the past few weeks suggest that optimistic expectations for the Ethereum product’s approval have cooled down. Speaking with Bloomberg this week, Katherine Dowling, general counsel for ETF applicant Bitwise, said she anticipates rejection next week due to the lack of public activity typically seen before approval.“Most people are universally expecting a disapproval order,” Dowling noted. “You’re not seeing the types of public activities that you would see if there was going to be an approval.”In a CNBC interview, VanEck CEO Jan van…