Blockchain Explained

2023-05-11 22:25:46 Blockchain Explained pinned a photo Open / Comment

2023-05-11 22:25:25 $SPONGE
The Krabby Patty of Memecoins!
Missed $PEPE? Get Sponge and Absorb the Damp!

FEATURES:
Faster growth than $PEPE
11,000+ Holders
Liquidity Locked
Contract Renounced
61% Supply Circulating
29% Supply Locked for 2 years
98/99 DEXTscore

Trending On DEXTools
5K Meme contest LIVE
Airdrop LIVE

Listed on:
LBANK - UNISWAP - CoinW - POLONIEX - BTCEX - MEXC Global
Coming on 12th May:
Bitget - Gate.io

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http://tinyurl.com/DEXSPONGE

TOKENOMICS
Name: Spongebob
Ticker: $SPONGE
Max Supply: 40,400,000,000
Tokens Secured By Team Finance

All our links:
- https://sponge.vip/
- http://tinyurl.com/DEXSPONGE
- https://discord.com/invite/mufWAZVEhM
- https://t.me/Spongeoneth
- https://bit.ly/SPONGEMEXC

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2023-05-11 04:38:02 Crypto Industry Asks UK to Think Globally as Government Closes Consultation on Proposed Rules

The U.K.’s crypto stakeholders have largely welcomed the nation’s proposed legislation for the industry – but they want the country to collaborate with regulators globally to avoid post-Brexit isolation, particularly in the wake of the European Union’s Markets in Crypto Assets (MiCA) regulation, a review of public comments found. The U.K. has been consulting the public on its proposed strategy for the crypto sector since February.

Countries around the world have been looking to construct rules for the burgeoning crypto sector, and with MiCA in its final stages, the pressure is mounting for countries to decide on their own approach. The U.K.’s plan is to regulate crypto under the Financial Services Markets Act and have an authorization regime for digital asset companies. It also hopes to regulate stablecoins under the country’s payments rules and set up a market abuse regime to protect investors. The Financial Services and Markets Bill, which will give regulators the power to oversee crypto by extending rules for financial instruments, is already making its way through Parliament.

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2023-05-10 04:29:02 FTX's Sam Bankman-Fried Moves to Dismiss Most Criminal Charges Against Him

FTX founder Sam Bankman-Fried filed pretrial motions to dismiss a majority of the charges he faces late Monday. Bankman-Fried, who is set to go on trial this fall, faces over a dozen different charges ranging from wire, securities and commodities fraud allegations to bribery claims. The charges were brought across multiple superseding indictments tied to his conduct as former Chief Executive Officer of the Bahamas-based crypto exchange FTX.

Bankman-Fried's attorneys moved to dismiss charges of conspiring to commit wire fraud on FTX customers; of wire fraud on FTX customers; of conspiracy to commit wire fraud on Alameda Research lenders; of wire fraud on Alameda Research lenders; and of conspiracy to commit bank fraud, on the grounds that prosecutors did not "state an offense for failure to allege a valid property right." They also moved to dismiss the bank fraud conspiracy, unlicensed money transmitter operation, unlawful political contribution and bribery charges on discovery grounds. A final motion seeks to dismiss the bribery and political contribution charges.

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2023-05-09 04:20:02 Privacy Project Railgun DAO Adopts Chainway’s ‘Proof of Innocence’ Tool

Railgun DAO, a blockchain project that uses zero-knowledge cryptography to provide extra privacy to users when making transactions, said it has teamed with the Turkish developer Chainway to add a “proof of innocence” feature to satisfy anti-money-laundering and sanctions compliance. Chainway released its “proof of innocence” tool in January, allowing blockchain users to prove that withdrawals from the coin mixer Tornado Cash.

The U.S. Treasury Department blacklisted Tornado Cash last August, arguing that the platform had been used to launder more than $7 billion. The new functionality on Railgun allows users “to create a proof that their transactions are from a list of transactions that have not interacted with any blacklisted addresses, without revealing their identity,” according to a statement. The Railgun privacy system is deployed on Ethereum, Polygon, Arbitrum and Binance Smart Chain. Users can “mathematically prove the legitimate origins of their funds,” according to the statement. “It is an entirely zero-knowledge-based system, so user privacy is never compromised.”

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2023-05-08 10:41:02 Coinbase Is Transforming Into New Banking Service With Crypto Support

Former RippleNet general manager Asheesh Birla said that Coinbase is evolving from a cryptocurrency exchange to a banking institution that accepts cryptocurrencies. Coinbase’s purpose had been changed in order to develop a crypto economy that would be a more fair, efficient, accessible, and transparent financial system for digital assets. Coinbase, on the other hand, indicated in a blog that it is committed to collaborating with high-level authorities in both US and non-US nations to upgrade the financial system.

Coinbase’s most recent objective is to create the crypto economy, which is a more equitable, accessible, efficient, and transparent financial system driven by cryptocurrency. The exchange, on the other hand, indicated that it is committed to working with high-level authorities in both US and non-US nations to upgrade the banking system. According to Coinbase’s first-quarter 2023 financial report, deposit income from interest, blockchain incentives, and custody fees now make up the majority of the company’s revenue. Birla said that the interest earned on USDC deposits alone generates $199 million, accounting for 18% of its total earnings.

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2023-05-07 11:35:02 Pepecoin’s Bewildering Rise Turned a Pittance Into an Almost 5,000,000% Meme Coin Profit

The bewilderingly fast rise of pepecoin (PEPE), a meme coin introduced mere weeks ago that’s now worth more than $1 billion, is making gigantic fortunes for those undeterred by warnings this is a fad that will end badly. A perfect example: a pseudonymous trader named dimethyltryptamine.eth spent $263 just three weeks ago to buy trillions of PEPE tokens. That former pittance has turned into $3.8 million in profits from tokens they’ve already sold.

The trader is benefitting from the breakneck rally of a coin based on the “pepe the frog” meme, a popular symbol in crypto circles. Launched in April, the meme coin’s market capitalization astonishingly surpassed $1 billion on Friday and, according to CoinGecko, at one point was worth more than Arbitrum’s ARB, which is also among the hottest newly issued tokens of 2023. Analysts, however, have raised concerns about the concentrated ownership of pepecoin, pointing to a handful of traders acquiring substantial amounts of PEPE when the token was released last month. Blockchain sleuth Lookonchain unveiled five accounts connected to a wallet belonging to pepecexwallet.eth.

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2023-05-06 04:28:02 Israel Has Seized 190 Binance Accounts With Alleged Terrorist Ties Since 2021: Reuters

Israeli authorities have seized roughly 190 Binance accounts with alleged ties to terrorist groups such as Hamas and Daesh since 2021, Reuters reported Thursday. The report cites never-before-published documents from Israel's National Bureau for Counter Terror Financing (NBCTF), a counter-terrorism division of the Israeli Defense Ministry.

According to those documents, the NBCTF confiscated in January an undisclosed amount of crypto from two accounts with alleged links to Daesh, a terrorist group based in Syria and Iraq. Other government records, dating as far back as 2021, allege more than 100 of the seized Binance accounts had ties to Hamas, an armed Palestinian group that has often clashed with the Israeli Defense Forces. Israeli authorities seized the funds to "thwart the activity" of Daesh and "impair its ability to further its goals," the NBCTF said on its website. The NBCTF did not immediately respond to CoinDesk's request for comment.

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2023-05-05 04:11:02 Alibaba Cloud Builds Metaverse Launchpad on Avalanche

The cloud division of Chinese tech behemoth Alibaba (BABA) has built a launchpad for businesses to deploy metaverses on the Avalanche blockchain. Named Cloudverse, the launchpad is designed to provide an end-to-end platform for companies to customize and maintain their metaverse spaces to try and find new ways of engaging with their customers.

Avalanche will provide the technology for building the metaverse spaces, while Alibaba Cloud will provide the computing and storage, according to an emailed announcement on Thursday. The partnership is Alibaba's second such tie-up with a blockchain network in less than a month, following its agreement with Mysten Labs, developer of the Sui Layer 1 blockchain, to provide node services for validators on the network's testnet. Avalanche's native token AVAX was little affected by the initial announcement of the news, rising less than 1% from $16.86 to $16.98 as of 15:20 UTC.

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2023-05-04 04:20:03 Mysten Labs' Sui activates mainnet, entering competitive Layer 1 space

Sui launched its mainnet, ending a multi-year development process for the newest Layer 1 blockchain in the crypto arena. The network went live according to an update from the project's Discord server that was made at 11.30 UTC, referencing a genesis blob. With the mainnet release, Sui's native asset will shortly be available for trading on various exchanges, such as Binance, OKX, Bybit, and Kucoin.

Sui enters a competitive landscape of high-performance Layer 1 blockchains, including Solana, Aptos and Sei. The Sui team asserts that more than 200 decentralized applications, encompassing NFTs, DeFi, social media, and gaming, are set to go live on tthe network in the coming weeks. Mysten Labs, the developer of Sui, raised $300 million in a September 2022 funding round, valuing the project at over $2 billion last year. The Series B round was led by FTX Ventures, the venture arm of Sam Bankman-Fried's collapsed crypto exchange FTX. Just this month, the now-bankrupt FTX sold its stake in Mysten Labs for $96 million.

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