Crypto | Bitcoin | Blockchain

2023-04-21 05:46:02 Binance Labs Invests In Casual Game GOMBLE, Expands To A Market Volume Of $24.97 Billion

Binance Labs has announced an investment in GOMBLE, a chain game developer. According to the official statement, Binance Labs committed to investing in the seed round funding of GOMBLE, a blockchain-based Korean casual game developer, on April 20. GOMBLE will utilize the funding to create and market RumbyStars, its first mobile game, and to grow its gaming platform through the Games-as-a-Service (GaaS) model.

GOMBLE is a subsidiary of 111Percent, a Korean casual mobile game producer. GOMBLE’s core team, led by Jihoon Byun, former COO of 111Percent, has strong expertise in game development and publishing, as well as considerable experience working successfully in both Web2 and Web3 at firms such as Google, Kakao Brain, SK Telecom, and crypto trading platforms. GOMBLE aims to adapt its Web2 gaming model to Web3, with a particular emphasis on balanced tokenomics and long-term governance. The governance token, $CRT, will be earned through a tournament prize system. $CRT can be used to buy NFTs, tournament passes, and in-game goodies.

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2023-04-20 06:31:02 Decentralized Wireless Project Helium Begins Move to Solana Blockchain

Crypto connectivity project Helium kicked off its migration to the Solana blockchain midday Tuesday, abandoning its own crypto infrastructure in favor of a new, more stable home. Developers supporting the network have initiated a 24-hour process that will kick the Helium blockchain offline and recreate its key metrics on Solana. Helium’s smart contracts will be unusable during the transition.

The transition aims to make it faster and cheaper to operate on Helium, a project attempting to globally deploy decentralized wireless infrastructure that relies on cryptocurrency as an incentive mechanism. Until Tuesday its tokens lived for nearly four years on the Helium blockchain, a custom layer 1 that lacked the broad appeal of Solana, Ethereum and other smart contract platforms. Moving to Solana offers the project a wider audience and a more stable platform. Despite Solana’s own history of occasional outages, it is far more reliable and stable than Helium’s, according to Helium blog posts.

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2023-04-19 06:43:02 SEC Lays Its Cards on the Table With Assertion That DeFi Falls Under Securities Rules

The U.S. Securities and Exchange Commission's (SEC) warning shot last week that decentralized finance (DeFi) could be thrown into its expanding definition of what makes a securities exchange is the latest move to formalize what Chairman Gary Gensler has been saying: Crypto belongs in the securities world and will be regulated that way.

The crypto industry had long pleaded for specific rules or guidance from the SEC that would give digital-assets businesses certainty about how to comply or properly steer clear of the agency’s jurisdiction. The agency’s decision to explicitly fold DeFi into its proposal for a new exchange definition further underlines that the crypto financial movement won’t get tailored regulations. On the contrary, the agency is making targeted adjustments to its rules to ensure crypto will be held to existing securities regulations. Gensler stuck to his customary message as the commission voted on the exchange definition proposal, which is now open to a 30-day.

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2023-04-18 07:32:02 The Arbitrum Community Is Coming To An Agreement On 2 New Proposals

The Arbitrum community has finally come to a consensus on Proposals 2 AIP-1.1 and AIP-1.2, as they are being supported at the moment and may be approved tomorrow. The Snapshot voting page shows that the Arbitrum community is voting on two proposals (AIP-1.1 and AIP-1.2) to expand the supervision and governance power of ARB token holders. It will start on April 11 and will end in the early morning of April 18.

Proposal Arbitrum Improvement Proposal 1.1 (AIP-1.1) proposes placing the Foundation’s remaining 700 million ARB in a “smart contract-controlled lock” to be unlocked over four years. According to the proposal, the foundation will not be able to use tokens until community members approve the token allocation budget. Additionally, the Arbitrum Foundation has released a transparency report on how the organization was formed. Arbitrum’s controversial AIP-1.05 to return 700 million ARB tokens failed overwhelmingly, with 84% against it. Notable holders prioritize platform viability, raising questions about future steps for the contentious funds.

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2023-04-17 08:50:04 Hong Kong Confirms Crypto Commitment at Web3 Conference

Hong Kong is powering ahead with its ambitions to become a regional crypto hub as the West continues to clamp down on the industry. Government officials have confirmed the city’s crypto commitments at the Hong Kong Web3 Festival this week as it aims to become a fully regulated crypto hub attracting investment and Web3 startups. On April 12, Financial Secretary Paul Chan Mo-po reiterated that appropriate regulations and oversight were of paramount importance.

According to reports, the Hong Kong Securities and Futures Commission (SFC) also wants to regulate decentralized finance. The agency believes DeFi platforms will need a license which essentially means they won’t be DeFi. Lily King, COO of crypto asset custodian Cobo, commented that “If Hong Kong really intends to regulate DeFi, this will mean it has a stricter [environment] than Singapore.” Nevertheless, regional banks are opening up to crypto, which cannot be said for the West. Earlier this week, Hong Kong’s largest online bank announced it will be offering transfers and conversions to and from crypto and fiat currencies.

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2023-04-16 09:14:02 zkSync Recovers Twitter Account After About 12 Hours Of Attack

Early this morning, zkSync announced it had regained access to its account along with a yellow tick. According to the project, the problem is entirely on the Twitter side. The project will update more details. Last night, the crypto community was shocked by the news that zkSync was hacked and lost its Twitter account. The project immediately confirmed the incident and said it was investigating the incident.

Earlier this month, this project also experienced network issues. At that time, this blockchain activity tracker – zkSync Era Block Explorer did not generate new blocks for three consecutive hours. The network is back up after a 4-hour hiatus. zkSync is a name that has been constantly mentioned in recent times. This is a type of layer-2 that uses zero-knowledge proof (ZKP) technology to authenticate data and has a built-in Ethereum Virtual Machine (EVM) to be able to connect directly to the second largest cryptocurrency network. Developed by the Matter Labs team, this network is trusted and supported by many significant investment funds, with total funding of up to $250 million in two rounds.

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2023-04-15 07:38:02 Nigeria’s First Crypto Payment Provider Shuts Doors, Auctions IP

Nigerian crypto and Web3 company Lazerpay made a shocking announcement: it was shutting down its operations. This decision followed Lazerpay’s inability to raise funds in a funding round, as founder and CEO Emmanuel Njoku explained in a statement released on Twitter. Njoku expressed gratitude for the impact Lazerpay had made in the crypto ecosystem, but stated that the company had reached a point where it needed to shut down.

Lazerpay is not leaving its users in the dark. The company has announced that it will focus on ensuring a seamless transition for its users by resolving any outstanding issues. It has recommended that merchants use the bank or crypto payout options and withdraw their funds from the platform before April 30, 2023. Additionally, Lazerpay is inviting companies to make offers to purchase its intellectual property. Lazerpay was founded by Njoku, Abdulfatai Suleiman, and Prosper Ubi in October 2021 to drive crypto adoption globally. The company helps businesses accept stablecoin payments from customers globally.

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2023-04-14 08:17:02 Ethereum Shanghai Upgrade: Stakers Face 300-Day Wait To Withdraw Tokens

Ethereum Shanghai upgrade enables stakers to withdraw their ETH tokens; 17,350 ETH withdrawn, 319,000 to be withdrawn, and 17.96 million ETH staked. On April 13, 2023, the much-anticipated Ethereum Shanghai upgrade went live, and according to token.unlocks.app, the impact was immediate. Within two hours after the upgrade, 17,350 ETH tokens were withdrawn, while 128 ETH were deposited.

The primary focus of the Shanghai upgrade is to enable stakers to withdraw their staked ETH tokens. Since the launch of the Beacon Chain in December 2020, ETH holders had been locking up their tokens on the Beacon Chain. The Merge upgrade in 2022 did not include the ability to withdraw staked ETH, creating uncertainty among investors and stakers. Ethereum developers removed some Ethereum Improvement Proposals from the Shanghai upgrade, including “proto-danksharding,” which is the first of Ethereum’s two-part process to implement sharding. The sharding upgrade is expected to roll out over 2023 and 2024 and will split up Ethereum’s workload across small chains working in tandem.

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2023-04-13 07:55:04 Crypto Miner Core Scientific Appoints a New President

Crypto hosting and mining company Core Scientific (CORZ) has appointed crypto veteran Adam Sullivan as its new president, a court filing shows. Sullivan spent the past six years in various roles at financial services firm XMS Capital Partners, where he was most recently managing director and head of the digital asset and infrastructure group.

At Core Scientific, Sullivan will work on financial and strategic matters, including working with customers, suppliers and creditors as well as help with the reorganization of the company’s management team, according to the filing. Todd DuChene, Core Scientific' current president, will become chief legal officer and chief administrative officer, leading corporate, legal, financial and administrative tasks. In December, the Austin, Texas-headquartered company, one of the largest publicly traded crypto mining companies in the U.S., filed for bankruptcy after a year of low crypto prices and high energy prices.

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2023-04-12 08:06:02 CleanSpark buys 45,000 Bitcoin miners for $145 million to nearly double its capacity

Bitcoin mining company CleanSpark spent $145 million on 45,000 Bitcoin mining machines, planning to double its mining capacity by the end of the year. All of the mining units are Antminer S19 XPs, which CleanSpark CEO Zach Bradford claims are the most efficient miners available on the market. The manufacturer will aim to deliver 25,000 machines in August, with the rest arriving in September.

The machines will add 6.3 exahashes per second (EH/s) of computing power to the company’s current 6.7 EH/s of hash rate — a 95% increase. This follows a recent purchase of 20,000 mining machines in February. These machines are in the process of being delivered and will add 2.44 EH/s of hash rate when they are activated later this year. CleanSpark claims it mines more than 90% of its bitcoin with low-carbon energy sources. “This bear market has continued to provide us with opportunities to maximize ROI [return on investment] including the opportunity to purchase the industry’s best miner at an industry leading price,” said Bradford in a press release.

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