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THE LATEST CRYPTO NEWS FROM CNS

Bitcoin Ordinals community debates fix after inscription validation bug

A few solutions are being discussed to fix a code bug found in the Bitcoin-native Ordinals protocol that has prevented over 1,200 inscriptions from being validated.

While nearly every member of the Ordinals community agrees that these inscription requests should be reincluded, the community is debating whether they should be added retroactively or not.

The bug came from the indexer function of the protocol only counting inscriptions that were in the first input of a transaction submitted up to and including version 0.5.1 of the protocol.

https://cointelegraph.com/news/bitcoin-ordinals-community-debates-fix-after-inscription-validation-bug


OPNX quips about its early dismal volume after reporting 90,000% surge

Open Exchange (OPNX) has claimed to have experienced a massive surge in trading volume and has joked about its dismally low volume on its opening day.

According to an April 10 tweet by OPNX, its day one trading volume on April 4 hit a total of $13.64 but has since apparently seen a surge to $12,398 on April 9, an increase of over 90,000%.

https://cointelegraph.com/news/opnx-quips-on-its-early-dismal-volume-after-reporting-90-000-surge


Winklevoss twins infuse Gemini with $100M personal loan

Tyler and Cameron Winklevoss, co-founders of the United States-based cryptocurrency exchange Gemini, have reportedly dipped into their own pockets to fund the business amid the crypto market downturn.

According to an April 10 Bloomberg report, the Winklevoss twins made a personal $100-million loan to Gemini following attempts to get funding from outside investors. Cointelegraph reached out to Gemini for comment, but did not receive a response at the time of publication.

https://cointelegraph.com/news/winklevoss-twins-infuse-gemini-with-personal-100m-loan-report


MetaMask launches new fiat purchase function for cryptocurrency

Cryptocurrency wallet and decentralized application (DApp) provider MetaMask has announced the launch of a new feature that will allow users to purchase crypto with fiat currency directly from its Portfolio Dapp. The move is intended to provide users with an easier way to purchase crypto with fiat currency.

https://cointelegraph.com/news/metamask-launches-new-fiat-purchase-function-for-cryptocurrency


Crypto exchange Huobi returns to profitability in Q1 after restructuring

According to an April 10 tweet by Justin Sun — the de facto owner of cryptocurrency exchange Huobi Global — Huobi saw $150 million in revenue during Q1 2023 compared with $120 million in expenditures, resulting in a net income of $30 million. Sun said that “a large number of measures were taken to reduce costs and increase efficiency” during the quarter. For Q2 2023, he projected the exchange will bring $187 million in revenue and $76 million in expenses, with a net income of $110 million.

Huobi was one of the largest cryptocurrency exchanges by volume until the off-boarding of its mainland Chinese users began in 2021. Its market share subsequently fell from 19% in 2020 to an estimated 2.2% in Q4 2022. Sun, who claims to be an “adviser” at Huobi Global, reportedly purchased 100% of the exchange’s stake from its co-founders in November 2022 through his entity About Capital.

https://cointelegraph.com/news/crypto-exchange-huobi-returns-to-profitability-in-q1-after-restructuring