Ethereum was formerly developed as a PoW blockchain. However, it's been planning to transition to PoS through an upgrade tagged the merge. The process, which has different phases, is almost getting to completion as the date for the merge draws closer. The target is September 15 and would finally merge the Ethereum mainnet and the Beacon Chain. Staking is a process that allows...
The Chicago Mercantile Exchange (CME) Group will launch Ethereum option contracts on its platform on September 12. The company announced that it’s waiting for regulatory review, and if approved, these new investment products will join its ETH futures and mini futures contracts. The new option contracts will be offered at a size of 50 ETH per contract and will track the CME CF...
Several reactions have come from the crypto industry with the upcoming Ethereum upgrade, the Merge. The upgrade is expected to transit the Ethereum blockchain from using the Proof-of-Work (PoW) consensus mechanism to that of Proof-of-Stake (PoS). This transition would change transaction validation processing from mining to staking. Hence, many people are getting different ideas on what to expect during and after the transition....
Per a press release from the U.S. Justice Department, an alleged crypto money laundering scheme has taken a hit. Authorities from this country managed to extradite a Russian national that allegedly laundered as much as $70 million. The suspect is called Denis Mihaqlovic Dubnikov (29) will face charges in the District of Oregon, Portland. The suspect was being presented in federal court, at...
Vitalik Buterin, the co-founder of Ethereum, frowns deeply on the possibility of Ethereum censorship by the US Treasury Department's Office of Foreign Assets Control (OFAC). He maintained that such an action amounts to an attack on the network. Hence, it could bring results in different dimensions. Buterin disclosed his stance concerning this in a tweet. He mentioned that he voted for burning the...
According to a report from research firm Blockdata, Google’s parent company has been actively investing in the crypto space. The big tech giant and other major corporations in the legacy financial system have invested over $6 billion in digital asset companies from September 2021 to June 2022. The report claims that Google, Samsung, BlackRock, and other corporations are investing in projects and products...
Several activities are taking place in the crypto industry amid the current market situation. One of such activities is the recent development of the BNB chain. This digital network is in the pipeline to raise additional developers in charge of web3 development. A Brief On BNB Binance Coin (BNB) is a renowned digital currency developed and managed by the known crypto exchange, Binance....
In around a month, Ethereum will transition from a Proof-of-Work (PoW) to a Proof-of-Stake (PoS) consensus. This event was dubbed “The Merge”, tentatively set for September 15 to 16, and will complete a 6-year journey into the new consensus algorithm and blockchain. Users, exchange platforms, miners, and developers are gearing up for the event. Major crypto exchange platform Coinbase recently announced their measures...
In a report from TheBlock, the team behind the Ethereum (ETH) protocol Aave addressed the concerns about their address screening process. The decision to partner with compliance firm TRM Labs has been gaining a lot of attention after several high-profile personalities were blocked from accessing the platform. These individuals and smaller users include TRON founder Justin Sun, Ethereum educator Anthony Sassano, CEO of...
The crypto community has been on alert since the crash of LUNA, ETH, and USDT. Investors depend on stablecoins to hedge against price volatility in the crypto market. These stablecoins are pegged to USD, meaning each coin is worth the same as 1 USD. So, for instance, holding 1USDT or USDC is the same as having 1USD. Stablecoins don't fluctuate in price like...
Diplomat and founder of the TRON network, Justin Sun, confirmed that one of his addresses was blocked from using the Ethereum decentralize finance (DeFi) protocol Aave. Via Twitter, Sun claimed that he received 0.1 ETH from Tornado Cash leading to his address being added and blocked by the protocol. Justin Sun was just one of many well-known personalities in the crypto industry, and...
Popular non-fungible token (NFT) marketplace OpenSea announced changes to its crime reporting policy. Via their Twitter account, the team behind the platform addressed the issues with their old stolen items policy and why it was “damaging” users’ trust in the marketplace. OpenSea said that they must implement a crime reporting and stolen items policy to stay compliant with U.S. laws. However, some users...
The effects of the upcoming Ethereum Merge on the crypto market have been very obvious. It has affected not just the price of ETH but the prices of other digital assets in the space, triggering a run-up that has brought them towards monthly highs. The effects have not ended at the spot market ,though. Data shows that it is being felt across the...
The Ethereum Merge draws closer with each passing day, and the anticipation in the market is palpable. There are a number of advantages that come with the Merge, with all of those being factors behind the recent recovery in the price of ETH. However, the advantages, and the subsequent recovery, do not look to end here, as the argument for the value of...
The U.S. government has been targeting crypto entities that they claim can enable bad actors to transact outside of the financial system, crypto exchange Tornado Cash was the latest addition. The Ethereum-based protocol was included in the Office of Foreign Assets Control (OFAC) Specially Designated Nationals and Blocked Persons List (SDN). As a consequence, the two major infrastructure providers for Ethereum, Infura, and...
Per a press release, the U.S. Department of the Treasury announced sanctions against Tornado Cash, a decentralized exchange (DEX). The institution added the website tornado.cash, the entities associated, and several Ethereum-based addresses to their Office of Foreign Assets Control (OFAC) Specially Designated Nationals And Blocked Persons List (SDN). There are around 40 ETH addresses in this list which in total, according to the...
Meta CEO and Facebook Co-Founder Mark Zuckerberg announced the expansion of their non-fungible token (NFT) features for Instagram. Deployed on May 10, 2022, this enables users to showcase their digital collectibles on the social media. The feature will be available in over 100 countries for users in Asia, Africa, the Middle East, and the American continent. This will allow content creators to “leverage...
Last year, an obscured crypto project called Ethereum Max (EMAX) gained a lot of attention. The project was promoted by influencer Kim Kardashian and boxing legend Floyd Mayweather. Ethereum Max turned out to be the centerpiece for a worldwide pump-and-dumb scheme. These scams used the influence of socialites and other celebrities to increase the price of the token while the founders take the...
The non-fungible token (NFT) sector has experienced massive growth in terms of adoption. The digital assets have been able to breach into the mainstream media and attracted the attention of millions of new users. With the price of Bitcoin and Ethereum on a decline, the NFT sector might be taking a harder hit. However, a recent report from the data and analytics platform,...
Per a recent report from on-chain analytics firm Chainalysis, pro-Russia groups in Ukraine are raising funds in Bitcoin, Ethereum, Litecoin, and other cryptocurrencies to support their operations. The report claims these groups have raised a total of over $2.2 million using social media platforms. As seen below, most of the donations have been made in Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Dogecoin (DOGE),...
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