💣Ethereum fork a success as Sepolia testnet gears up to trial the Merge
The difficulty bomb has been successfully delayed according to core dev Tim Beiko and Ethereum ecosystem developer Nethermind.
According to Etherscan, the Gray Glacier hard fork was initiated on block number 15050000 at roughly 6:54 am ET, June 30. The hard fork will now delay the difficulty bomb by roughly 700,000 blocks or 100 days, giving devs until mid-October to complete the long-awaited Merge.
https://cointelegraph.com/news/ethereum-fork-a-success-as-sepolia-testnet-gears-up-to-trial-the-merge
The difficulty bomb has been successfully delayed according to core dev Tim Beiko and Ethereum ecosystem developer Nethermind.
According to Etherscan, the Gray Glacier hard fork was initiated on block number 15050000 at roughly 6:54 am ET, June 30. The hard fork will now delay the difficulty bomb by roughly 700,000 blocks or 100 days, giving devs until mid-October to complete the long-awaited Merge.
https://cointelegraph.com/news/ethereum-fork-a-success-as-sepolia-testnet-gears-up-to-trial-the-merge
Cointelegraph
Ethereum fork a success as Sepolia testnet gears up to trial the Merge
The difficulty bomb has been pushed back once again as Ethereum developers work through the final stages of Merge testing, with the Sepolia testnet next in line.
📉Bitcoin registered its worst decline in 11 years during the second quarter amid the crypto market downturn.
Following the turbulence of May and June, the 56% drop was its worst quarterly drawdown since the third quarter of 2011.
https://www.theblock.co/post/155035/bitcoin-registers-its-worst-quarter-in-11-years-amid-crypto-market-tumult?utm_source=rss&utm_medium=rss
Following the turbulence of May and June, the 56% drop was its worst quarterly drawdown since the third quarter of 2011.
https://www.theblock.co/post/155035/bitcoin-registers-its-worst-quarter-in-11-years-amid-crypto-market-tumult?utm_source=rss&utm_medium=rss
The Block
Bitcoin registers its worst quarter in 11 years amid crypto market tumult
Bitcoin was trading below $20,000 on Friday after the cryptocurrency had registered its worst quarter in 11 years.
✅Cardano’s Vasil hard fork proposal submitted: Countdown commences
Cardano Blockchain developer Input Output Hong Kong (IOHK) has submitted an updated proposal to hard fork the Cardano testnet, kicking off the countdown for the network’s Vasil mainnet upgrade.
The Vasil upgrade is slated to bring “significant performance and capability upgrades” to the blockchain, with IOHK describing the fork as the “biggest and best upgrade to date,” providing higher throughput, improved noscript performance for developers and lower costs.
https://cointelegraph.com/news/cardano-s-vasil-hard-fork-proposal-submitted-countdown-commences
Cardano Blockchain developer Input Output Hong Kong (IOHK) has submitted an updated proposal to hard fork the Cardano testnet, kicking off the countdown for the network’s Vasil mainnet upgrade.
The Vasil upgrade is slated to bring “significant performance and capability upgrades” to the blockchain, with IOHK describing the fork as the “biggest and best upgrade to date,” providing higher throughput, improved noscript performance for developers and lower costs.
https://cointelegraph.com/news/cardano-s-vasil-hard-fork-proposal-submitted-countdown-commences
Cointelegraph
Cardano’s Vasil hard fork proposal submitted: Countdown commences
Cardano community, set your reminders for the end of July as the testnet Vasil upgrade proposal is scheduled to take place soon.
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🔥 Ledger integrates FTX services into the 'Swap’ section of their app
The service offers users the ability to exchange 120+ crypto assets with lower fees, self-custody and world-class security.
https://twitter.com/Ledger/status/1544706168026763264?s=19
The service offers users the ability to exchange 120+ crypto assets with lower fees, self-custody and world-class security.
https://twitter.com/Ledger/status/1544706168026763264?s=19
❗️The Ethereum 2.0 upgrade is one of the most anticipated, and most watched events in the digital asset industry. The transition from the current Ethereum consensus mechanism of Proof-of-Work to Proof-of-Stake is a major technical and engineering feat.
👀Glassnode review on ETH 2.0:
https://insights.glassnode.com/market-pulse-eth-stakers-underwater/
👀Glassnode review on ETH 2.0:
https://insights.glassnode.com/market-pulse-eth-stakers-underwater/
Glassnode Insights - On-Chain Market Intelligence
Market Pulse: ETH 2.0 Stakers Are Underwater
The Ethereum 2.0 upgrade is one of the most anticipated, and most watched events in digital asset industry. However, with staked ETH locked up, and market prices declining over 75%, the vast majority of stakers are now firmly underwater on their position.
🔍 Cryptocurrency exchange KuCoin has released a quarterly report on the company's achievements. Keys:
▫️trading volume in the first half of 2022 was the maximum - $2 trillion (record per day - $34 billion). 180% YoY growth in 2021;
▫️9.75 million new users (+219%);
▫️400 new employees (total ~1000);
▫️137 cryptocurrencies have been added to the listing. The total number of supported assets has exceeded 700.
https://www.kucoin.com/blog/kucoin-in-2022-h1-review
▫️trading volume in the first half of 2022 was the maximum - $2 trillion (record per day - $34 billion). 180% YoY growth in 2021;
▫️9.75 million new users (+219%);
▫️400 new employees (total ~1000);
▫️137 cryptocurrencies have been added to the listing. The total number of supported assets has exceeded 700.
https://www.kucoin.com/blog/kucoin-in-2022-h1-review
⚙️ New features implemented on our platform:
- "Transactions" section – you can now find the contribution Txhash and amount contributed under the deal denoscription (only the case for the deals you participated in).
- Email transactions notification:
° Notification is sent automatically to the mail stated in your Profile once a contribution transaction is executed. The notification contains the following information: project name; contribution; Txhash; contribution amount; token price; vesting conditions; deal denoscription.
° The notification can be duplicated using the “Resend Email Notification” button. The duplicate function can be used in case you want to receive information about the old deals you participated in on your email.
- Deal sort function: alphabetically and by date.
- Button "Log support ticket" - now support tickets can be logged directly through the platform.
- Button "Suggest project" - suggest a project in which you would like to invest.
- "Transactions" section – you can now find the contribution Txhash and amount contributed under the deal denoscription (only the case for the deals you participated in).
- Email transactions notification:
° Notification is sent automatically to the mail stated in your Profile once a contribution transaction is executed. The notification contains the following information: project name; contribution; Txhash; contribution amount; token price; vesting conditions; deal denoscription.
° The notification can be duplicated using the “Resend Email Notification” button. The duplicate function can be used in case you want to receive information about the old deals you participated in on your email.
- Deal sort function: alphabetically and by date.
- Button "Log support ticket" - now support tickets can be logged directly through the platform.
- Button "Suggest project" - suggest a project in which you would like to invest.
✅The Federal Reserve Bank of Cleveland published an article about the Lightning Network and how it significantly improves the efficiency of BTC in payments
THE LIGHTNING NETWORK: TURNING BITCOIN INTO MONEY
https://www.clevelandfed.org/en/newsroom-and-events/publications/working-papers/2022-working-papers/wp-2219-the-lightning-network-turning-bitcoin-into-money.aspx
THE LIGHTNING NETWORK: TURNING BITCOIN INTO MONEY
https://www.clevelandfed.org/en/newsroom-and-events/publications/working-papers/2022-working-papers/wp-2219-the-lightning-network-turning-bitcoin-into-money.aspx
website
The Lightning Network: Turning Bitcoin into Money
The Lightning Network (LN) is a means of netting Bitcoin payments outside the blockchain. We find a significant association between LN adoption and reduced blockchain congestion, suggesting that the LN has helped improve the efficiency of Bitcoin as a means…
🤝The transition of ETH to "proof-of-stake" is expected in the week of September 19-25. However, the final date depends on the results of the Goerli testnet merger on August 11
https://hackmd.io/@benjaminion/BkxQTpqpi9
https://hackmd.io/@benjaminion/BkxQTpqpi9
HackMD
PoS Implementers’ Call #91 - 2022-07-14 - HackMD
Notes from the regular proof of stake [Eth2] implementers call
👀QryptoQuant: miners continue to sell BTC
14,000 bitcoin, worth more than $300 million at its current price, was transferred out of wallets belonging to miners in a single 24-hour period at the end of last week — and in the last few weeks, miners have offloaded the largest amount of bitcoin since Jan. 2021
The phenomenon is called “miner capitulation,” and it typically indicates that miners are preparing to sell their previously mined coins in order to cover ongoing mining expenses.
https://www.cnbc.com/2022/07/18/crypto-miners-moved-over-300-million-of-bitcoin-in-one-day.html
14,000 bitcoin, worth more than $300 million at its current price, was transferred out of wallets belonging to miners in a single 24-hour period at the end of last week — and in the last few weeks, miners have offloaded the largest amount of bitcoin since Jan. 2021
The phenomenon is called “miner capitulation,” and it typically indicates that miners are preparing to sell their previously mined coins in order to cover ongoing mining expenses.
https://www.cnbc.com/2022/07/18/crypto-miners-moved-over-300-million-of-bitcoin-in-one-day.html
CNBC
Crypto miners moved over $300 million of bitcoin in one day, and some are dropping out altogether
New data from blockchain analytics firm CryptoQuant shows that miners are rapidly exiting their bitcoin positions.
💰Tesla earnings meet Q2 expectations, sells 75% of its Bitcoin
Tesla (TSLA) reported its Q2 earnings after the closing bell on Tuesday, meeting analysts’ estimates, following a prolonged COVID-induced shutdown at its Shanghai production facility.
The company also says it sold 75% of its Bitcoin, turning it into fiat currency, adding $963 million in cash to its balance sheet.
https://www.google.com/amp/s/finance.yahoo.com/amphtml/news/tesla-q2-earnings-2022-201008978.html
Tesla (TSLA) reported its Q2 earnings after the closing bell on Tuesday, meeting analysts’ estimates, following a prolonged COVID-induced shutdown at its Shanghai production facility.
The company also says it sold 75% of its Bitcoin, turning it into fiat currency, adding $963 million in cash to its balance sheet.
https://www.google.com/amp/s/finance.yahoo.com/amphtml/news/tesla-q2-earnings-2022-201008978.html
💰KuCoin has secured a $10M investment from Susquehanna International Group
Apart from around a 10M US dollar investment, the two parties will collaborate in blockchain startup incubation and KCS & KCC ecosystem building.
kucoin.com/blog/kucoin-announces-10-million-dollars-strategic-investment-from-sig
Apart from around a 10M US dollar investment, the two parties will collaborate in blockchain startup incubation and KCS & KCC ecosystem building.
kucoin.com/blog/kucoin-announces-10-million-dollars-strategic-investment-from-sig
👀South Korea postpones 20% tax on crypto gains to 2025
The delay comes just a couple of months after newly elected president Yoon Suk-yeol promised to work on regulations first.
https://cointelegraph.com/news/south-korea-postpones-20-tax-on-crypto-gains-to-2025?utm_source=Telegram&utm_medium=social
The delay comes just a couple of months after newly elected president Yoon Suk-yeol promised to work on regulations first.
https://cointelegraph.com/news/south-korea-postpones-20-tax-on-crypto-gains-to-2025?utm_source=Telegram&utm_medium=social
🛂EX-COINBASE MANAGER ARRESTED IN US CRYPTOCURRENCIES INSIDER TRADING CASE: BBG
U.S. authorities have arrested former Coinbase product manager Ishan Wahi for allegedly leaking insider information that helped his brother and friend buy the tokens shortly before they were listed on a crypto exchange.
The manager, his brother, and a friend bought the crypto, which was soon listed on Coinbase.
SEC designates 9 coins as securities in Coinbase insider trading complaint:
AMP, RLY, DDX, XYO, RGT, LCX, POWR, DFX, KROM
https://www.sec.gov/litigation/complaints/2022/comp-pr2022-127.pdf
U.S. authorities have arrested former Coinbase product manager Ishan Wahi for allegedly leaking insider information that helped his brother and friend buy the tokens shortly before they were listed on a crypto exchange.
The manager, his brother, and a friend bought the crypto, which was soon listed on Coinbase.
SEC designates 9 coins as securities in Coinbase insider trading complaint:
AMP, RLY, DDX, XYO, RGT, LCX, POWR, DFX, KROM
https://www.sec.gov/litigation/complaints/2022/comp-pr2022-127.pdf
💰Tesla reports $64M profit from Bitcoin sale
In the first six months of 2022, Tesla recorded $170 million of impairment losses “resulting from changes to the carrying value” of its Bitcoin holdings, according to an official Form 10-Q filing with the United States Securities and Exchange Commission, or SEC. After selling 75% of its BTC stash for dollars in the second quarter, the company netted a realized gain of $64 million
https://cointelegraph.com/news/tesla-reports-64m-profit-from-bitcoin-sale?utm_source=Telegram&utm_medium=social
In the first six months of 2022, Tesla recorded $170 million of impairment losses “resulting from changes to the carrying value” of its Bitcoin holdings, according to an official Form 10-Q filing with the United States Securities and Exchange Commission, or SEC. After selling 75% of its BTC stash for dollars in the second quarter, the company netted a realized gain of $64 million
https://cointelegraph.com/news/tesla-reports-64m-profit-from-bitcoin-sale?utm_source=Telegram&utm_medium=social
Cointelegraph
Tesla reports $64M profit from Bitcoin sale
Elon Musk's Bitcoin gambit has proven to be a profitable endeavor — so far.
👁Coinbase Faces SEC Investigation on Cryptocurrency Listings
The US Securities and Exchange Commission’s scrutiny of Coinbase has increased since the platform expanded the number of tokens in which it offers trading, said two of the people, who asked not to be named because the inquiry hasn’t been disclosed publicly. The probe by the SEC’s enforcement unit predates the agency’s investigation into an alleged insider trading scheme that led the regulator last week to sue a former Coinbase manager and two other people.
“We are confident that our rigorous diligence process -- a process the SEC has already reviewed -- keeps securities off our platform, and we look forward to engaging with the SEC on the matter,” Chief Legal Officer Paul Grewal said on Twitter. The SEC declined to comment.
https://www.bloomberg.com/news/articles/2022-07-26/coinbase-faces-sec-investigation-over-cryptocurrency-listings
The US Securities and Exchange Commission’s scrutiny of Coinbase has increased since the platform expanded the number of tokens in which it offers trading, said two of the people, who asked not to be named because the inquiry hasn’t been disclosed publicly. The probe by the SEC’s enforcement unit predates the agency’s investigation into an alleged insider trading scheme that led the regulator last week to sue a former Coinbase manager and two other people.
“We are confident that our rigorous diligence process -- a process the SEC has already reviewed -- keeps securities off our platform, and we look forward to engaging with the SEC on the matter,” Chief Legal Officer Paul Grewal said on Twitter. The SEC declined to comment.
https://www.bloomberg.com/news/articles/2022-07-26/coinbase-faces-sec-investigation-over-cryptocurrency-listings
Bloomberg.com
Coinbase Faces SEC Investigation on Cryptocurrency Listings
Coinbase Global Inc. is facing a US probe into whether it improperly let Americans trade digital assets that should have been registered as securities, according to three people familiar with the matter. The company’s shares dropped 21%.