Gimme The Coin

2023-11-30 16:33:23 Trust Wallet Warns Users May Face Transaction Delays and Missing History Amidst Bitcoin Node Instability

Popular cryptocurrency wallet Trust Wallet has alerted users about an ongoing issue with the Bitcoin (BTC) node that may result in transaction delays and missing transaction history. In a Thursday post on X (formerly Twitter), Trust Wallet said they are “experiencing a BTC node issue” that could lead to transaction delays and missing transaction history.

The instability is a result of the increased number of transactions per block on the Bitcoin network, placing significant strain on the nodes operated by various providers. “Increased transactions per block in the Bitcoin network are putting pressure on nodes, causing instability across providers,” the post read.

Trust Wallet’s platform team said it is actively monitoring the situation and actively working to address the issue. However, users may encounter missing transaction history for the Bitcoin-blockbook chain for a period of up to six hours, along with the possibility of failed transactions.

“We appreciate your understanding, and our team is working diligently to address this issue,” it added. Open / Comment

2023-11-28 16:33:11 Crypto Advocates Mention Bitcoin Mining as a “Critical Tool” for Clean Energy and Balancing Grid

A number of crypto advocates have emphasized the significance of Bitcoin (BTC) mining as a “critical tool” for clean energy usage and grid balancing.

In a recently published working paper titled “Leveraging Bitcoin Miners as Flexible Load Resources for Power System Stability and Efficiency,” Bitcoin advocates and former ERCOT (Electric Reliability Council of Texas) President Brad Jones highlighted numerous benefits of BTC mining.

The paper argued that the incorruptibility and rapid load response capabilities inherent in Bitcoin mining can enhance grid flexibility, facilitating the integration of variable renewable energy sources.

The authors of the paper include Nic Carter, partner at Castle Island Ventures, Dennis Porter, CEO of Satoshi Action Fund, Murray Rudd, Science Advisor, and the late Brad Jones. Shaun Connell, the Executive Vice President of Power at Houston-based tech company Lancium, also contributed to the research. Open / Comment

2023-11-26 16:32:41 Nigerian Politician Arrested for $246,153 Theft from Patricia Technologies’ Crypto Wallet

The Nigeria Police Force (NPF) has announced the arrest of a politician in connection with the theft of over 200 million naira (approximately $246,153) from Patricia Technologies’ crypto wallet. In a recent post on X (formerly Twitter), the NPF said the arrest of Wilfred Bonse was made following an investigation conducted by the NPF’s National Cybercrime Center.

According to Olumuyiwa Adejobi, the force’s public relations officer, Bonse is accused of collaborating with hackers to launder 50 million naira (around $61,538) from the stolen funds. The charges against him include criminal conspiracy, unauthorized alteration of computer systems and network data, and the illicit diversion of funds exceeding 200 million naira.

The statement issued by the NPF revealed that Bonse was apprehended for his alleged involvement in the theft, conversion of cryptocurrency wallets, and unauthorized fund diversion from Patricia Technologies. Open / Comment

2023-11-24 16:32:26 KyberSwap Exploited in $46 Million Attack Due to ‘Infinite Money Glitch’

Colkitt explained that the attacker exploited a distinctive implementation of KyberSwap’s concentrated liquidity feature, manipulating the contract to believe it possessed more liquidity than it actually did. To explain the intricacies of the attack, and with the attacks following similar strategies employed by the attacker across other pools, Colkitt focused on the first attack, which targeted the ETH/wstETH pool.

The process began with a flash loan of 10,000 wstETH, valued at $23 million at the time. Subsequently, 2,800 wstETH (equivalent to $6 million) was swapped into the pool to alter the price from 1.05 ETH to 0.0000152. Unlike typical flash loans, the goal here was not to manipulate an oracle but to move the pool price to an area on the concentrated liquidity curve with zero existing liquidity.

This precise manipulation of Kyber’s concentrated liquidity math created an opportunity for the attacker to exploit the system. The attacker generated 3.4 wstETH of liquidity in a specific price range and then inexplicably burned 0.56 wstETH of liquidity, possibly to align subsequent numerical calculations perfectly. Open / Comment

2023-11-22 16:33:29 Coinbase CEO Sees Binance Settlement as Chance for Industry Renewal

Coinbase CEO, Brian Armstrong says the Binance settlement is a chance for the industry to prioritize compliance and rule clarity to prevent regulators from slamming huge fines on companies. Armstrong wrote on X (Twitter) shortly after Binance’s settlement with the Department of Justice (DOJ) was announced explaining the need for rule compliance and Coinbase roadmap since 2012.

In a recent interview with Bloomberg, the CEO stated Coinbase couldn’t move as quickly as others in terms of expansion and onboarding new products in the markets due to the complaint approach stressing that it was the right decision.

Armstrong also charged regulators to make the proper rules for the sector to flourish in the United States rather than the persistent court cases and sanctions levied on multiple projects. He added that Americans should but have to look elsewhere to get benefits from crypto through unregistered exchanges because the US democratic economy should always get it right.

In recent months, Coinbase has led the push for rule clarity in U.S. courts and in Congress following the renewed regulatory onslaught on the market. The Securities and Exchange Commission (SEC) filed charges against the company for acting as an unregistered broker of securities which it has denied with promises to defend itself vigorously. Open / Comment

2023-11-20 16:32:04 Digital Hong Kong Dollar Pilot Plan to Enter Second Phase Next Year

The Hong Kong Monetary Authority (HKMA) is set to initiate the second phase of its digital Hong Kong Dollar project next year, focusing on the exploration of innovative applications and reinforcing collaborations across the financial industry.

During the Fintech Foresight Seminar held by Hong Kong 01, HKMA Chief Fintech Officer Nelson Chow stated that Hong Kong’s central bank digital currency (CBDC) has completed its first phase and will proceed to the next phase in 2024.

Building on the groundwork laid in the e-HKD Pilot Program’s initial phase, the HKMA’s forthcoming step will delve into real-world applications of the digital Hong Kong Dollar, seeking to integrate it within the broader economic framework.

Like the United Kingdom or other developed countries and regions, Hong Kong is still in the phase of testing CBDC. Chow said, “Hong Kong is definitely not falling behind; it is among the leading group conducting research. The e-HKD Pilot Program is of research value to other central banks as well.” Open / Comment

2023-11-18 16:32:33 Fidelity Follows BlackRock, Files For Spot Ethereum ETF – Where Next for Ether (ETH)?

Asset management giant Fidelity just filed a 19b-4 with the Chicago Board Options Exchange (CBOE) to set up a spot Ethereum exchange-traded fund (ETF) called the Fidelity Ethereum Trust, just one day after BlackRock filed to set up the iShares Ethereum Trust, its own spot Ethereum ETF.

The latest move to offer a spot Ethereum ETF to investors comes as major asset managers double down on bets that cryptocurrencies have a bright future, and that their new proposed crypto investment vehicles will gain quick approval in the US.

Both asset managers plus a dozen others filed to set up spot Bitcoin ETFs back in June, with many analysts betting that these applications will gain approval as soon as January.

Fidelity manages over $4.5 trillion in investor funds, whilst BlackRock manages over $8 trillion, making it the largest asset manager in the world. Open / Comment

2023-11-16 16:33:24 SEC Postpones Decision on Hashdex Spot Bitcoin ETF and Grayscale Ether ETF

The U.S. Securities and Exchange Commission has postponed its decision on the approval of Hashdex Bitcoin ETF and Grayscale Ethereum Futures Trust ETF.

The SEC published a document that addresses to the deferral of Hashdex’s filing. Hashdex previously filed to convert its current Bitcoin Futures ETF (DEFI), listed on the New York Stock Exchange (NYSE) and sponsored by Teucrium Trading, to a spot Bitcoin ETF. If approved, Hashdex Bitcoin ETF will be the first U.S. exchange-traded fund that invests directly in Bitcoin.

According to Bloomberg Intelligence, the SEC had until Nov.17 to make a decision on Hashdex Bitcoin ETF. The SEC now announces the new decision deadline to be Jan. 1, 2024, and expects to provide more updates then.

The approval decision of Grayscale’s Ethereum Futures Trust (ETH) ETF has also been delayed to Jan.1, 2024. Open / Comment

2023-11-14 19:00:10 4 reasons to buy $CATCH SpaceCatch

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2023-11-14 16:32:08 South Korea’s Democratic Party Mandates Crypto Holdings Disclosure for Candidates in Upcoming Elections

The Democratic Party of South Korea has instituted a new policy requiring preliminary candidates for the upcoming general elections to disclose their holdings in virtual assets, including cryptocurrencies, according to The Korea Economic Daily (Hankyung).

This decision, announced by Han Byung-do, the chairman of the Democratic Party’s Strategic Planning Committee, follows discussions within the party’s general election planning team. The party aims to ensure that candidates uphold the highest moral standards and avoid potential conflicts of interest related to digital asset holdings.

Chairman Han emphasized the importance of this policy in a recent statement. “The consensus was that the verification of candidates should be strictly strengthened based on morality,” he said. Han also warned that candidates who fail to accurately report their holdings will face legal repercussions and potentially severe consequences, including the cancellation of their candidacy. Open / Comment