.

2022-09-23 11:38:02 Tether responds to U.S. judge’s order to produce documents, calls it ‘a routine discovery’

After the news broke out that a New York district judge ordered Tether (USDT) to produce its financial records to prove the backing of its stablecoin in what some have called a ‘conspiracy lawsuit,’ the blockchain company made a public announcement on the matter. Specifically, Tether said that it had already agreed to produce the relevant documents from the judge’s order.

As a reminder, Tether and cryptocurrency exchange Bitfinex are being sued over allegations that they conspired to issue the stablecoin in order to manipulate the price of Bitcoin (BTC). After the plaintiffs demanded that the blockchain company produces all of its financial documents, including “general ledgers, balance sheets, income statements, cash-flow statements, and profit and loss statements,” Tether requested that the revelation is blocked. blockchain platform is required to provide records.

Source

https://t.me/Cash_Blockchain_News Open / Comment

2022-09-22 10:05:04 Maple Finance and Icebreaker Launch Lending Pool for Bitcoin Miners

The two parties joined forces to roll out a lending pool for bitcoin miners. Major DeFi lender Maple Finance has launched a capacity pool worth $300 million for Bitcoin mining companies. The development comes despite the sharp decline in BTC’s price and the reduced injection of capital into the mining sector.

According to an announcement on Tuesday (September 20, 2022), the new fund targets “public and private blue-chip bitcoin mining and digital asset infrastructure companies” based in North America and Australia. The pool offers underlying loans with a tenor of 12-18 months, along with an interest rate between 15-20%. Australian financial services firm Icebreaker Finance will manage and administer the loans via Maple’s platform. Funding will be administered to borrowers based on the balance sheet strength.

Source

https://t.me/Cash_Blockchain_News Open / Comment

2022-09-21 12:48:02 Crypto Investors Yanked Money From ETH Products Despite a Smooth Ethereum Merge

Amid all the hype surrounding last week’s major Ethereum overhaul known as the Merge, investors remained cautious on the blockchain’s native token ETH – and their caution was vindicated as the cryptocurrency tumbled following the event. Investment products tied to ETH saw a fourth straight week of outflows in the period ended Sept. 16.

ETH’s price has fallen significantly since the Merge – which has been heralded as an event that could lure more large investors to the ecosystem – even though the perilous upgrade went smoothly. About five days before the transition took place on Sept. 15, ETH approached $1,800. It sank below $1,300 today. ETH’s bigger rival, bitcoin (BTC), broke a five-week streak of outflows as investors added a net $17.4 million.

Source

https://t.me/Cash_Blockchain_News Open / Comment

2022-09-20 11:37:02 Australian senator releases draft bill to push for crypto regulation

Australian liberal senator Andrew Bragg released a draft bill to provide regulation of stablecoins, digital asset exchanges, and disclosure requirements for the Chinese CBDC, e-Yuan, on Sept. 19. The draft bill, titled “Digital Assets (Market Regulation) Bill 2022”, welcomes stakeholder consultation before its clearance on Oct. 31.

The new rules will require digital asset exchanges, custody service providers, and stablecoin issuers to hold recognized foreign licenses. Such licenses must comply with digital asset custody requirements, which include the designation of key personnel in Australia responsible for operating the digital asset custody services, as well as adhering to minimum capital and following auditing, assurance, and disclosure procedures. Further, stablecoin issuers must hold the face value of their liabilities.

Source

https://t.me/Cash_Blockchain_News Open / Comment

2022-09-19 06:05:03 Profanity tool vulnerability drains $3.3M despite 1Inch warning

Decentralized exchange aggregator 1inch Network issued a warning to crypto investors after identifying a vulnerability in Profanity, an Ethereum (ETH) vanity address generating tool. Despite the proactive warning, apparently, hackers were able to make away with $3.3 million worth of cryptocurrencies. On Sept. 15, 1Inch revealed the lack of safety in using Profanity as it used a random 32-bit vector to seed 256-bit private keys.

A subsequent investigation by blockchain investigator ZachXBT showed that a successful exploit of the vulnerability allowed hackers to drain $3.3 million in crypto. However, hackers tend to attack the bigger wallets before moving over to wallets with lesser value. Users owning wallet addresses generated with the Profanity tool have been advised to “Transfer all of your assets to a different wallet ASAP!” by 1Inch.

Source

https://t.me/Cash_Blockchain_News Open / Comment

2022-09-18 05:54:02 New Ethereum PoW Fork Gathers 60 Terahash From Well Known Pools, ETHW’s Price Shudders 39% in 24 Hours

Ethereum’s transition from proof-of-work (PoW) to proof-of-stake (PoW) roughly five different crypto assets were the main beneficiaries of Ethereum’s former hashrate. However, 24 hours after The Merge, anonymous developers launched an Ethereum PoW fork called ETHW and the fork has managed to garner 60.92 terahash per second (TH/s) of hashpower.

Ethereum’s transition to PoS has bolstered Ethereum Classic’s hashrate and a small handful of other crypto assets that leverage the Ethash algorithm. The transition has also created a new PoW fork of Ethereum called ETHW, and in prior articles published by Bitcoin.com News, ETHW did not officially exist. The blockchain is now operational and according to reports, the ETHW project had a few hiccups while starting the network.

Source

https://t.me/Cash_Blockchain_News Open / Comment

2022-09-17 05:47:02 More Monkey Business from Yuga Labs With Rumored Mecha Apes Launch

Yuga Labs, the company that launched Bored Apes Yacht Club, Mutant Apes Yacht Club, Bored Apes Kennel Club, and the Otherside land tokens, has plans to launch yet another non-fungible token (NFT) collection. According to a report leaked on Thursday, Yuga Labs will release an NFT collection of Mecha Apes, in a plan expected to raise a further $50 million.

Yuga Labs have become quite adept at launching NFT collections since they launched Bored Apes Yacht Club in April 2021. The company has since been building out the ecosystem with a string of additional products. According to a leaked document seen by Protos, the exact nature of the Mecha Apes cannot be stated. What can be said with certainty is that Yuga Labs has already pre-positioned the “Mecha” concept to some degree, as Mecha Pieces were a part of their Otherside land NFT collection.

Source

https://t.me/Cash_Blockchain_News Open / Comment

2022-09-16 05:20:05 Ethereum Successfully Executes Highly-Anticipated Merge Event, Ushering in Proof-of-Stake Era

At long last, the Ethereum merge has arrived. At 2:45 am EST, the Ethereum network successfully began its transition—with no hiccups—from proof of work to proof of stake, a historic feat anticipated by the crypto community for over five years.

The upgrade has forever changed both how ETH is created and how transactions on the Ethereum network are validated. Up until the moment of the merge, ETH was generated by “mining,” an energy-intensive process by which individuals directed huge amounts of computer power at difficult-to-solve puzzles. The transition is anticipated to be faster, more scalable, and over 99% more environmentally friendly.

Source

https://t.me/Cash_Blockchain_News Open / Comment

2022-09-15 05:35:03 Uruguay Proposes to Bring Digital Assets Under Central Bank Control With New Crypto Bill

A bill granting the Central Bank of Uruguay (BCU) the authority to control virtual assets was submitted to the country’s parliament. Apart from changing the legal powers of the BCU, the Financial Services Superintendence (SSF) is placed to oversee a new category of virtual asset service providers, per the local reports.

Among other things, the bill proposes changes to the BCU’s charter. In addition, issuers of virtual assets have also been defined as “the entities that regularly and professionally provide one or more services of virtual assets to third parties” and have been placed under SSF’s supervision. With the introduction of the bill, both domestic and international entities that operate in Uruguay will come under the country’s anti-money laundering standards and the rules placed for combating the financing of terrorism.

Source

https://t.me/Cash_Blockchain_News Open / Comment

2022-09-14 05:08:02 US Treasury Department requiring US citizens to get a license for withdrawing assets from Tornado Cash

The U.S. Department of the Treasury wants people who had pending transactions before the Tornado Cash sanctions went into place to apply for a license to process the withdrawal of their assets. Sept. 13, the Treasury said the policy applies to transactions initiated before the sanctions were implemented on Aug. 8.

Users who had sent cryptocurrency to Tornado Cash but did not complete the mixing transaction before the designated date can apply for a withdrawal license from the OFAC. Affected users are required to submit detailed information relating to their interaction with Tornado Cash, including wallet address, transaction hashes, date and time of the transaction(s), as well as the amount involved. The Treasury added that while facilitating transactions through Tornado Cash remains prohibited in the U.S., interacting with open-source codes is not prohibited.

Source

https://t.me/Cash_Blockchain_News Open / Comment