Crypto News

Bitcoin adoption heats up as climate change wreaks havoc worldwide
Crypto News

Bitcoin adoption heats up as climate change wreaks havoc worldwide

In October 2018, the journal Nature Climate Change made headlines both within the crypto world and beyond after it published a study claiming that within three decades, the carbon emissions of the Bitcoin network alone could push the planet past 2 degrees Celsius of warming — the threshold established by the international Paris Agreement.  While additional research has been released since, showing that much of the Bitcoin network actually relies on renewable energy sources, the initial reporting has been influential in shaping the way in which people understand the role of cryptocurrency within the context of the global climate crisis: The planet is warming, and cryptocurrency is, at least in part, to blame. However, the truth is that the relationship between crypto and climate is...
Federal Reserve Bank reveals details of digital dollar research
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Federal Reserve Bank reveals details of digital dollar research

The President and CEO of the Federal Reserve Bank of Cleveland has revealed details of the Fed’s ongoing research into a potential digital dollar.  Speaking in a keynote address on September 23, Loretta Mester emphasized that the Federal Reserve has been exploring central bank digital currencies (CBDC) since before the pandemic, noting that its Board of Governors has been “building and testing a range of distributed ledger platforms to understand their potential benefits and tradeoffs.” She also noted initiatives from regional Federal Reserve branches, including a multi-year partnership between the Massachusetts Institute of Technology (MIT) and the Boston Fed, in addition to collaboration between the Fed’s New York Branch and the Bank for International Settlements.  Despite...
Bears reign as 86% of September’s $284M CME Bitcoin options are worthless
Crypto News

Bears reign as 86% of September’s $284M CME Bitcoin options are worthless

As of now, the $622 million total open interest for BTC futures expiry on Friday seems quite relevant.  This Friday, a total of $100 million in CME Bitcoin (BTC) options are set to expire. 58% of these are call (buy) options, meaning buyers can acquire BTC futures at a fixed price. As the expiry draws near, call options 10% or higher above the current BTC price are deemed worthless. Therefore, there’s not much to gain in rolling over this position for October.  September CME call options open interest (contracts). Source: CME Each CME contract represents 5 BTC, and the chart above shows which are the most significant levels for September call options.  Note that a striking 86% of those are set at $11,300 and above. Hence those options are currently priced at $10 or le...
Crypto mining activities are now regulated by the Venezuelan gov
Crypto News

Crypto mining activities are now regulated by the Venezuelan gov

Venezuela's National Superintendency of Crypto Assets and Related Activities, or SUNACRIP, has issued the first decree to officially regulate all crypto mining activities. In order to qualify, miners will need to meet specific requirements. An official announcement was first published in the Gaceta Oficial and signed by the head of the SUNACRIP, Joselit Ramirez. It stated that residents in Venezuela who are interested in mining Bitcoin (BTC) and other cryptocurrencies must request a license and join the so-called "national pool.” The legal framework asks people to disclose what kind of activities they would like to do in crypto mining, such as trading, importing, or using mining equipment. The government will also issue a special license for those who want to manufacture ASIC mining ha...
Huobi crypto exchange launches trading app in Russia
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Huobi crypto exchange launches trading app in Russia

Major cryptocurrency exchange Huobi Global is expanding in Russia by rolling out its native mobile app in the country. Users in Russia can now access Huobi’s spot market and trade major cryptocurrencies like Bitcoin (BTC) through its mobile app, the firm announced on Sept. 23. By introducing the app in Russia, Huobi wants to further expand in one of its most important markets. Russian users account for as much as 10% of Huobi’s total spot trading volume, an exchange representative told Cointelegraph. Ciara Sun, vice president of global markets at Huobi Group, said that Huobi’s move to strengthen its position in the Russian market comes despite existing issues with crypto regulation in the country such as the new crypto law “On Digital Assets” as well as the bill “On Digital ...
Star Girl’s one million active users go with the Flow blockchain
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Star Girl’s one million active users go with the Flow blockchain

Dapper Labs is continuing to expand partnerships with third-parties for its Flow blockchain, with Animoca Labs set to launch two crypto-powered games on Flow. On September 22, blockchain gaming firm Animoca Brands announced that its MotoGP and Star Girl games will launch on the Flow blockchain early next year. Animoca is an investor in Dapper Labs. The Star Girl series consists of multiple free-to-play mobile games owned by Animoca and claims a monthly user base of one million players. Dapper Labs’ chief business officer, Mik Naayem, welcomed Animoca’s titles onto Flow, stating: "We share a mutual vision and approach to creating mainstream adoption of decentralized games in an inclusive manner. With this partnership we are one step closer to making this a reality.” The Flow blockcha...
Developer reveals ‘biggest unsolvable Lightning attack vector’
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Developer reveals ‘biggest unsolvable Lightning attack vector’

Independent Bitcoin Lightning developer, Joost Jager, has outlined an exploit of the micro-payments network that could result in channels being compromised with very little effort and negligible cost. However, he said he’s hard at work on a possible solution. 1/ Lightning is great, but can't say it is battle-tested. If script kids would be interested, they could take down those shiny new 5 BTC #wumbo channels with negligible cost and no effort at all. pic.twitter.com/9PTkxfF042 — Joost Jager (@joostjgr) September 22, 2020 Jager specifies that the attack could be carried out on wumbo channels, which essentially allow larger transactions between mutually agreeing parties on the Lightning network. A wumbo channel removes the limit to the total amount of Bitcoin that can be held in a re...
Emin Gun Sirer’s $42 million blockchain for DeFi scaling has launched
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Emin Gun Sirer’s $42 million blockchain for DeFi scaling has launched

Avalanche, a blockchain offering scalability to the world of decentralized finance took its mainnet live on Sept. 21.  "From Snowflake to Avalanche, the decentralized platform has come a long way, and its journey has only just begun," Ava Labs said in a Sept. 21 statement on the mainnet launch. Ava Labs is the entity responsible for building the Avalanche blockchain and project. Emin Gün Sirer, ranked 52nd on Cointelegraph's list of the top 100 people in crypto and blockchain, serves as Ava Labs' CEO.  Avalanche runs its own consensus protocol, paving the way for the blockchain to facilitate 4,500 transactions per second, or TPS, the statement explained. Current blockchain networks often host far fewer TPS capabilities, resulting in slowed transaction times and higher f...
Equilibrium receives Web3 grant to develop its universal DeFi module
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Equilibrium receives Web3 grant to develop its universal DeFi module

Decentralized finance startup Equilibrium has received a grant of $27,000 from the Web3 Foundation to develop its DeFi pallet and provide tools which enable other projects to migrate to the Polkadot platform. The updated pallet would enable the Equilibrium parachain to introduce a developer environment for DeFi applications. This will include an Ethereum Virtual Machine, aiming to attract Ethereum dApp developers, who can reuse their existing code. The Web3 Foundation offers grants of up to $100,000 to organizations who are developing new technologies. Equilibrium’s DeFi pallet is universal, can be reused and implemented on other parachains. As Björn Wagner, the co-founder and COO of Parity Technologies, the technical arm of the Web3 Foundation, explained: “Equilibrium has the potent...
Joke MEME coin airdrop is now worth $600K
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Joke MEME coin airdrop is now worth $600K

MEME, a community-driven project inspired by a ConsenSys developer’s satire of the yield farming bubble, has gained nearly 100% in 24-hours to post an all-time high of $1,775 after listing on Poloniex. Since the start of September, MEME has gained more than 900%, despite its supporters promoting the project through the slogan ‘don’t buy MEME.’ MEME is currently the 254th-ranked crypto asset with a $48 million market cap, with more than $17 million worth of MEME changing hands in the past 24 hours. MEME/USD: CoinGecko The project’s unlikely rise began when ConsenSys’ DeFi product lead Jordan Lyall created a mock-advertisement for a yield farming protocol generator dubbed ‘The Degenerator.’ Within hours of the post circulating across crypto-Twitter, someone had created an ERC-20 under ...