In an unforeseen chain of events that unfolded between May and July 2023, the CEO of Multichain, Zhaojun, was apprehended by Chinese authorities, destabilizing the blockchain project. The situation escalated when user assets began to be transferred to unknown addresses. From Seizure to Shutdown: The Multichain Saga According to the Multichain team’s testimony, the first…
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The Bank of International Settlements (BIS) has published a report on cryptocurrencies and explains that the technology has serious “flaws.” BIS researchers insist that permissionless blockchains have “inherent limitations” that lead to network congestion and high fees. BIS Report: ‘Crypto Has So Far Failed to Harness Innovation to the Benefit of Society’ In its latest…
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“The real competition is not other chains, it’s the rapidly expanding centralized world that is imposing itself on us as we speak.” So says Ethereum co-founder Vitalik Buterin addressing the current volatile regulatory realities in crypto. In other news, venture capitalist Tim Draper adjusted the timeframe of his $250K bitcoin price prediction, and a former…
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Income tax, property tax, VAT, corrective taxation — there is a tax goldmine out there for governments, but they will have to think hard about accessing it. Governments have yet to address all the ways crypto might be taxed, the International Monetary Fund (IMF) has realized, and the amount of taxes not imposed or collected…
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A Lido team member claimed Rocket Pool is not really governed by its DAO, but Rocket Pool community members pushed back, claiming the protocol is becoming more decentralized. A team member for Lido has accused competitor Rocket Pool of being too centralized in a July 4 social media post. Both Lido and Rocket Pool are…
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Decentralized solutions can make academic research more secure and more accessible. Academic institutions house some of the world’s most important data generated from years of research. Yet centralized data storage models are becoming a concern for many universities looking to keep critical information safe and accessible. Danny O’Brien, a senior fellow at the Filecoin Foundation…
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Following Blackrock, the largest asset manager globally, filing for a spot bitcoin exchange-traded fund (ETF) with the U.S. Securities and Exchange Commission (SEC), Ran Neuner, host of Crypto Banter, stated during an interview with Michelle Makori, lead anchor for Kitco News, that he believes the asset manager has “no malicious intent.” Neuner additionally expressed his…
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The Autorité des Marchés Financiers (AMF), France’s markets watchdog, has expressed its full support for globally coordinated and transparent regulation in decentralized finance (DeFi). The goal is to protect users and promote the growth of this new and innovative sector…. Read More: Global Crypto Regulations for DeFi Backed by France’s Markets Regulator Read more »Sign…
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Binance hopes to enable smooth BTC deposits and withdrawals while tackling network congestion issues. On June 20, cryptocurrency exchange Binance announced that it had commenced operating nodes on the Bitcoin Lightning Network as a crucial step toward integrating it for deposits and withdrawals. In a tweet, Binance acknowledged users who noticed their new Lightning nodes…
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Ethereum’s core developers are engaged in discussions about raising the validator threshold from 32 ETH to 2,048 ETH. This proposal, put forward by Michael Neuder, a researcher from the Ethereum Foundation, aims to address concerns related to decentralization, inflation, and the size of the validator set. Neuder acknowledges that the existing threshold promotes decentralization, but…
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