News Around The Web

Binance suspends deposits for bridged tokens, seeks clarity from Multichain team

Transactions on the Multichain protocol have been delayed across multiple cross-chain bridges without a clear explanation.

Meta’s new Megabyte system solves one of the biggest roadblocks for GPTs

Researchers at Meta AI may have developed a way to get around the “tokenization” problem with GPT models.

Bitpanda secures licensing agreement with Coinbase as part of strategic partnership

As part of the collaboration, Bitpanda will incorporate Coinbase Exchange into its roster of authorized liquidity providers.

RGB protocol may offer solution to Bitcoin’s Ordinals jam, proponent claims

The founder of Digital Bitcoin Art and Assets believes that smart contracts on Bitcoin could solve the myriad problems created by Ordinals.

French lawmakers agree to loosen rules in proposed crypto influencer bill

Previously, the bill restricted influencer marketing to only licensed crypto firms, of which there are currently none in France.

EU watchdog warns about the risk of a bank run on stablecoins

As the crypto industry continues to develop reciprocal connections with traditional finance, the risks posed by a sudden crisis of the former to the global economy are rising...

Circle launches euro-based stablecoin on Avalanche blockchain

Circle launched EUROC last year as a regulated stablecoin, which means that each token is fully backed by euro reserves held at United States-regulated financial institutions.

Nvidia AI chip value skyrockets amid AI development boom

The chip developer released its second-quarter revenue forecast, which was 50% higher than market estimates, followed by a 28% increase in company shares.

Binance CEO Claims Chinese Communities Are ‘Buzzing’ After CCTV Airs Crypto Segment

This week CZ emphasized that the coverage of cryptocurrencies by CCTV is significant, after the broadcast aired a segment about Hong Kong.

Crypto should mimic TradFi rules: Global securities regulator IOSCO

According to the U.S. SEC, IOSCO members regulate more than 95% of the world’s securities markets. A major global securities watchdog, the International Organization of Securities Commissions...

Ledger key recovery service paused amid backlash, will open-source code

Hardware wallet company Ledger is postponing the launch of Ledger Recover following an intense week of criticism from the crypto community.

Core Scientific moves for September bankruptcy exit, expects $46M boost

A restructuring plan for bankrupt Bitcoin BTC tickers down $26,724 miner Core Scientific could be finalized by September, and it expects to exit proceedings with an additional $46 million due...

ETH can be both a security and a commodity, former CFTC commissioner says

Ethereum’s native Ether ETH tickers down $1,816 token may be both a commodity and a security, the former commissioner of the United States Commodities Futures Trading Commission has claimed.

Rising BTC transaction fees are a good thing, Bitcoin educator shares

Dan Held, the chief marketing officer at Trust Machines, believes that rising Bitcoin transaction fees may encourage users to look at other layer-2 solutions.

US risks losing the crypto race to UAE, Korea, Aus and Switzerland: Ark

The United State crypto ecosystem is facing a “void” of well-established and credible institutions, according to an analyst from ARK Invest.

Binance off the hook from $8M Tinder ‘pig butchering’ lawsuit

The plaintiff, a Texan woman, initially blamed Binance for losing $8 million in a pig butchering scam that began on Tinder. The world’s largest crypto exchange, Binance, has been dismissed...

Federal Reserve Chair Powell Hints at Possible Pause in Interest Rate Hikes

Federal Reserve Chair Jerome Powell has hinted that the Fed may pause raising interest rates next month after 10 consecutive rate hikes.

Hotbit Exchange Suspends Operations, Customers Have 30 Days to Withdraw Funds

Hong Kong-based CEX (centralized crypto exchange) with more than five million customers Hotbit has announced that "it is time to take a bow." The platform is winding down its operations...

Biden won’t accept debt deal protecting crypto traders

United States President Joe Biden has expressed opposition to a debt ceiling deal that he says would benefit “wealthy tax cheats and crypto traders” while putting food assistance programs at risk.

Is MetaMask withholding customers’ crypto for taxes? No, it’s not

The parent company behind the crypto wallet MetaMask has debunked "inaccurate" rumors that it is collecting tax on crypto transactions. ConsenSys, the company behind the crypto wallet MetaMask...

Ordinals sends LTC and DOGE network activity surging for 3 straight weeks

Move over Bitcoin, Ordinals on Litecoin and Dogecoin have unleashed a frenzy of transactions. What began with developer Casey Rodarmor creating the Ordinals protocol to “inscribe” text and...

Ethereum's Vitalik Buterin Voices Concern Over Blockchain Consensus Overloads

Ethereum co-founder Vitalik Buterin recently expressed his concerns over blockchain consensus overloads in a blog post published on May 22. He raised this concern after proposals were made to...

Bitcoin FOMO is gone, portfolio managers are taking BTC seriously — 3iQ CEO

3iQ’s CEO Fred Pye spoke about how Canada’s advanced crypto trading regulation draws investors to the digital assets market.

Attacker hijacks Tornado Cash governance via malicious proposal

The total control over Tornado Cash governance allows the attacker to withdraw all of the locked votes, drain all of the tokens in the governance contract and brick the router

Bitcoin set to ‘tick, tick, tick’ by the end of 2023: DeFi exec

Speaking to Cointelegraph, Fedi CEO and co-founder Obi Nwosu explains that it’s “increasingly hard to deny” Bitcoin’s ecosystem is the “fastest” and “most secure.”

US presidential candidate Vivek Ramaswamy to accept Bitcoin for campaign donations

Ramaswamy flashed a QR code while on stage, redirecting users to a payment gateway offering various payment options for donations, including BTC and satoshis.

Luxury Auction House Sotheby's Sells Portion of 3AC's NFT Collection for $2.5 Million

On May 19, 2023, Sotheby's auction unveiled the sales figures for the NFT collection of Three Arrows Capital (3AC).

Ethereum users are increasingly demanding self-custody: Casa CTO

The chief technology officer described Casa as an “extreme-security cold-storage setup with distributed keys.”

Bug in Aave V2 Polygon causes some assets to become stuck in contracts

The Aave team has proposed a fix, but it cannot be implemented until governance approves it through a vote.

Instagram to reportedly launch text-based app to rival Twitter

The upcoming app will maintain a Twitter-like centralized feed, allowing users to view content such as text, images and videos shared by followers and recommended accounts.

$3M worth of customer funds swiped via alleged Swaprum DEX rug pull

CertiK completed an audit of Swaprum in May and flagged issues with how centralized the project was.

Expert Claims Proposed BRICS Common Currency Poised to Undermine US Dollar Dominance

"Despite the difficulties such an effort faces, it is not entirely impossible for these nations to have such a currency unit," he said.

Italy sets aside millions for workers at risk of AI replacement

According to the Fondo per la Repubblica Digitale, the industries in Italy that are currently at risk include transport logistics, administrative support, production, services and sales.

Bitcoin defense lawyer says Craig Wright lawsuit could harm open source software

The chief legal officer for the Bitcoin Legal Defense Fund spoke at the Bitcoin 2023 event in Miami to discuss Craig Wright's ongoing case against Bitcoin core developers.

OpenAI launches official ChatGPT app for iOS, Android coming ‘soon’

OpenAI has officially launched an iOS version of ChatGPT. It is available on the App Store for free and syncs history across multiple devices. An Android version will launch “soon.”

Texas proof-of-reserve bill passes through the Senate

Digital asset providers that serve more than 500 customers in the state and have at least $10 million of customer funds would be restricted from comingling the customer funds with...

Coinbase Asks Judge to Force SEC to Regulate Cryptocurrency Market

In a remarkable escalation in the ongoing conflict between the crypto industry and the Securities and Exchange Commission (SEC), Coinbase has moved a federal court seeking a writ of mandamus.

Uniswap will deploy on Polkadot parachain Moonbeam

The proposal stated that educational group Blockchain at Michigan might seek a grant to bootstrap liquidity for the new version.

Australian ‘Big 4’ bank begins trial for cryptocurrency payment blocks

Westpac launches trial to combat cryptocurrency scams and protect customers from fraud as Binance faces PayID restrictions.

Coinbase Cloud plugs into Chainlink oracle network to improve smart contract reliability

Coinbase Cloud will use existing infrastructure to become a node operator in the Chainlink oracle network to improve its data provision and system functions.

LayerZero partners with Immunefi to launch $15M bug bounty

LayerZero and Immunefi have teamed up to launch a $15 million bug bounty program.

‘Trusted’ marketplace sold fake Trezor wallets stealing crypto: Kaspersky

As the popularity of hardware crypto wallets grows, the Russian cybersecurity firm Kaspersky has reminded users about the importance of using authentic crypto devices.

Updated European tax directive requires reporting on all crypto asset transfers

The European Union has implemented new information sharing rules for the taxation of crypto assets and Anti-Money Laundering and Countering Terrorism Financing.

Breaking: Court victory for Ripple as judge denies SEC motion to seal Hinman docs

Judge Torres denied the Securities and Exchange Commission's (SEC's) motion to seal the elusive Hinman documents in a win for Ripple.

Telegram addresses camera exploit, points to Apple macOS security permissions

Telegram has played down the severity of a macOS exploit that allowed a software developer to gain camera access through previous permissions granted by the messaging application.

Bitcoin Lightning company River raises $35M amid ‘new wave of institutional adoption’

In a boon for the Lightning Network, River Financial announces a raise and a nod towards further institutional adoption.

Libra-related Sui blockchain fixes critical bug that put ‘billions’ at risk

The bug allowed for many different types of exploits, including one that would have let flash loan borrowers simply not pay back their loans.

Bitcoin Cash enables CashTokens upgrade on its network

The upgrade also includes features such as future-proof multiparty vaults and improvements in transaction validation.

Apple’s new headset could put a rocket under metaverse tokens

Apple is set to release its newest mixed-reality headset on June 5, a development that could finally breathe some life into the metaverse industry.