Blockchain Explained

2024-03-28 18:34:57 Ethereum nears 1 million active validators as network surge strengthens security

The Ethereum network has witnessed a surge in validator numbers, with the count nearing one million. On-chain data from Beacon Chain and Ethereum’s Validator Queue show an active validator count of 979,686. However, a Dune Analytics dashboard curated by Dragonfly analyst Hildobby places the total number on the network above the one million mark.

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2024-03-27 18:11:04 USDT stablecoin issuer Tether hiring for AI division

USDT issuer Tether Operations Limited said it is trying to expand its AI capabilities by building up its AI division. Tether announced Tuesday that it is looking to hire "top talent" in AI. The goal is "to pioneer the development of open-source, multimodal AI models to set new industry standards, driving innovation and accessibility within AI technology," the company's announcement said.

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2024-03-21 19:59:58 FTX estate faces estimated $3 to $5 billion in US government claims amid bankruptcy proceedings, court filing shows

U.S. government claims against the bankrupt crypto exchange FTX are expected to total between $3 and $5 billion, according to a court filing on Wednesday, subject to change and negotiations with applicable authorities. However, it is important to note that in accordance with Chapter 11 priorities for the estate, FTX customers, Alameda Research lenders, administrative expenses, and non-governmental creditor claims will be paid out before any government and tax claims.

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2024-03-16 10:40:01 Ether Could Be a Meaningful Earnings Driver for Coinbase, JPMorgan Says

America’s largest bank, JPMorgan (JPM), said the Ethereum network and its token ether (ETH) could be a notable contributor to the wider cryptocurrency ecosystem and a positive driver of Coinbase (COIN) earnings. JPMorgan, while maintaining its neutral rating, raised its price target for Coinbase to $150 from $95 to reflect the crypto market rally and the positive impact that ether has had on the exchange’s revenue.

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2024-03-15 12:20:00 'Wolf of All Streets' Expects Mainstream Crypto FOMO to Return When DOGE Hits New All-Time High

Scott Melker, also known as the “Wolf of All Streets,” has revealed his theory on the potential resurgence of mainstream fear of missing out (FOMO) in the crypto market. He asserted that people seem to forget that the mainstream fervor in the last bull market came through dog coins, like dogecoin, and non-fungible tokens (NFTs).

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2024-03-04 12:25:21 U.S. Judge Enters Default Ruling Against Ex-Coinbase Insider, Says Secondary Market Sales are Securities Transactions

In an insider trading case involving Coinbase’s former product manager Ishan Wahi, his brother Nikhil Wahi, and their friend Sameer Ramani, a U.S. court ruled on March 1, that the trading of certain crypto assets on a secondary market, which Coinbase is, are securities transactions. The court took this critical position in a default judgment against Ramani. A default judgment is given when the defendant fails to respond to a court summons or does not appear in court.

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2024-03-03 13:05:19 Biden administration’s notorious Bitcoin mining survey halted after legal backlash

The US Energy Information Administration (EIA) agreed to stop the emergency survey of Bitcoin miners as part of an agreement to end the lawsuit filed by several industry players, including the Texas Blockchain Council. According to the March 1 court filing, the EIA must destroy any survey information it has already received and information yet to be received. It must also sequester or keep confidential that data until it is destroyed.

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2024-02-27 14:12:00 Stablecoin Market Cap Hits $140B, Highest Since 2022 Amid USDC Resurgence, Tether Growth

The stablecoin market's expansion is accelerating this year as fresh money continues to enter into the digital asset market, fueling the crypto rally. The total market capitalization of stablecoins recently climbed past $140 billion in February, according to CoinMarketCap. This is the highest level since December 2022, DefiLlama data shows. They thus serve a key role for digital asset markets, making the growing market cap an important milestone for the broader crypto market.

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2023-06-12 09:25:20 Polygon Labs Denies SEC’s Security Allegation For MATIC Token

Polygon Labs has made a statement in response to the United States Securities and Exchange Commission’s allegations that MATIC is an unregistered security. The digital asset was created outside of the United States and is primarily focused on the global community that supports the network. Polygon Labs has clarified that MATIC was an essential component of the Polygon technology from the beginning, ensuring that the network was and still is secure.

The team behind the development and growth of the Polygon blockchain has also said that they did not intend to target the United States and ensured that MATIC would be available to a broad audience. MATIC from fintech trading app Robinhood, the price of the token has dropped nearly 2% on the day and 33% over the previous week. This delisting was a result of the SEC’s classification of specific coins and tokens as securities. The SEC has explicitly referred to MATIC and 11 other tokens as securities in their lawsuit against Binance, the world’s largest cryptocurrency exchange. Along with MATIC, Binance USD, BNB, Solana’s SOL, Cardano’s ADA, Filecoin’s FIL, Cosmos Hub’s ATOM, The Sandbox’s SAND, Decentraland’s MANA, Algorand’s ALGO, Axie Infinity’s AXS, and Coti’s COTI were also labeled as securities by the regulator.

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2023-06-11 13:54:59 Polygon (MATIC) Plummets Over 30% After SEC Lawsuits Shake Crypto Industry

The recent lawsuits filed by the U.S. Securities and Exchange Commission (SEC) against high-profile crypto exchanges have caused a significant drop in the prices of several digital assets. Polygon (MATIC) has been hit particularly hard among these assets, with a drop of more than 30% in its trading price. The SEC has accused Binance, one of the largest global crypto exchanges, of engaging in unregistered offers and sales of “crypto-asset securities,”.

Robinhood has reportedly decided to end support for Cardano (ADA), Polygon (MATIC), and Solana (SOL) on June 27th, 2023 after the US SEC determined that a large number of tokens on Coinbase and Binance were securities. While other assets like ADA and SOL have also experienced significant drops in price, MATIC has been hit the hardest. At the time of writing, MATIC is trading at around $0.6 after it is down over 30% in the past 24 hours. These lawsuits have caused concern among investors and highlight the need for greater regulation in the crypto space. As the industry continues to evolve, it is important for investors to stay informed and for companies to ensure compliance with regulatory requirements.

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