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2023-02-24 08:15:05 Obol to bring distributed validators to Ethereum this year

Obol Technologies has brought its distributed validator technology to the Ethereum mainnet for the first time in an internal alpha testing phase. If successful, the project aims to make Ethereum more secure and resilient, while increasing the number of people running validators at home.

The validator comprises four nodes spread across three countries. It’s the first step in the project’s testing and audit plan, expected to culminate in an eventual public release toward the end of this year. “For like a solid two years no one gave a shit about it at all; no one cared about it at all. Everyone was skeptical. The Ethereum Foundation didn’t even want to fund it,” Obol co-founder and CEO Collin Myers said in an interview, referring to support for distributed validator technology in general.

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2023-02-23 09:19:02 Coinbase Surpasses Q4 Profits Projections Despite Declining Transaction Volume

Coinbase, a cryptocurrency exchange based in the United States, exceeded revenue projections for the fourth quarter of 2022 but saw a sustained fall in transaction volume. The exchange’s net revenue for the quarter came in at $605 million, exceeding the $589 million revenue that Wall Street analysts allegedly predicted.

Despite a 12% drop in transaction volumes from the prior quarter, Coinbase attributed its 34% increase in subscription and service revenues for the quarter’s 5% overall revenue growth. Staking income decreased compared to the preceding quarter as the decline in cryptocurrency prices outpaced the rise in staked balances across all crypto currencies, even though Coinbase restated its belief that its staking products are not securities. The Securities and Exchange Commission (SEC) is now looking into the exchange’s staking products.

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2023-02-22 07:28:02 Kaito AI raises $5.3 million to build ChatGPT-powered search engine for crypto

As investors flock away from crypto and into AI, one investment firm is taking a different approach. The product has been in private beta with institutional investors since December and the investment firm is saying it is "revolutionizing" the way they invest.

Kaito's cap table for this round features several industry heavyweights including Sequoia Capital, Jane Street, AlphaLab Capital and Mirana Ventures, said the company in the release. Big tech companies are already looking to make a land grab in the space. Microsoft relaunched its Bing search engine with ChatGPT technology, naming it Sydney. Since the launch of ChatGPT in late November, an AI chatbot developed by Sam Altman's OpenAI, a frenzy has formed around ChatGPT as well as AI-linked projects and crypto tokens.

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2023-02-21 07:58:02 HT Surges 16% Amid Huobi’s Plans to Secure Crypto License in Hong Kong

HT surpassed $6 hours after Justin Sun announced Huobi’s intention to seal regulatory approval in Hong Kong. The native token of the crypto exchange Huobi Global – HT – spiked around 16% after Justin Sun outlined the company’s intentions to obtain a trading license in Hong Kong.

Justin Sun – Tron’s Founder and a member of Huobi’s Global Advisory Board – revealed that the crypto exchange has applied for a trading license with Hong Kong’s watchdogs. He labeled the initiative as a “major step” and a demonstration that the entity is willing to cooperate with global regulators. He also believes the potential permit will help Huobi establish a “reliable” platform for Hong Kong users. the launch of a new trading venue in the special administrative region of China called Huobi Hong Kong.

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2023-02-20 08:58:02 Binance US May Suffer US Congressional Investigation For Secret Trade Of $400 Million

The US Congress should hold an investigation into Binance US for its links to Merit Peak, according to a statement from a senator cited by Reuters yesterday, according to CryptoSlate. Senator Roger Marshall has proposed opening an investigation into Binance US’s relationship.

The action comes after media outlet Reuters reported that Binance.US had sent $400 million from accounts at Silvergate Bank to merchant Merit Peak in 2021. Merit Peak has appointed Binance CEO Changpeng Zhao as its manager. Binance and Binance US have declared separate operations since 2019. Therefore, the above transactions imply that CZ has a financial connection that may not be suitable for Binance in the US. despite multiple claims in the past that the two organizations are independent of each other.

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2023-02-19 06:57:02 Dexible Exploited By Hackers Causing Damage $2 Million

Early on Friday, the decentralized exchange aggregator Dexible was the victim of a $2 million hack, according to an announcement the protocol updated on its Discord channel. Blockchain data reveals that BlockTower Capital, an investing company for digital assets, was one of the victims.

The Dexible front end displays a popup warning about the vulnerability anytime users visit it as of 6:35 pm UTC on February 17. According to a tweet from Dexible, the hacker was able to drain assets from cryptocurrency wallets containing funds that had been authorized for use by taking advantage of a flaw in the smart contract code. Around 4:00 pm UTC, a post-mortem report was published as a PDF file and made available on Discord. The team also stated that it was currently working on a remedial plan.

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2023-02-18 07:50:02 Ethereum Discovered A Critical Bug On Tesnet Ahead Of Shanghai Hard Fork

Several problems were discovered during testing on Ethereum’s Zhejiang testnet prior to the Shanghai hard fork. However, none of them interfered with the implementation of ETH staking withdrawals. The developers will also be adding a Hive test for this case.

Tim Beiko, a core developer for Ethereum, claims that this flaw can be “patched quickly.” He said that the test is “easy” for the engineers. The developers will also provide a Hive test just for this scenario. Client Memory and CPU use spiked, and engineers will assess the ratio of lost to recorded credential update notifications over the next several days, according to Beiko. A stress test involving 600,000 validators, 360,000 of whom updated withdrawal credentials at the time of the fork.

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2023-02-17 08:51:02 FDIC Denies Money Insurance For Cryptocurrency Exchange CEX.IO

The Federal Deposit Insurance Corporation (FDIC) has sent a cease-and-desist letter to CEX.IO instructing it to stop saying that U.S. dollars kept in its fiat currency wallets are FDIC-insured. CEX.IO is a cryptocurrency exchange located in Naperville, Illinois.

The organization said that a statement on CEX.IO’s website, “U.S. dollars held in your CEX.IO fiat currency wallet are FDIC-insured up to $250,000 per account” is false. No insured depository institution (IDI) or institutions are specified in conjunction with this statement, this organization pointed out in its letter, and neither are any qualifications, explanations, or limits expressed in connection with this assertion. This organization also pointed out that other websites had incorrectly stated that the FDIC insured CEX.IO.

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2023-02-16 07:23:02 Napster buys web3 music startup Mint Songs

Napster, the streaming service best-known for the peer-to-peer audio file-sharing platform it operated in the early 2000s, is buying music startup Mint Songs. The company, which was acquired last year by Hivemind and Algorand, is making a play at web3 by using the startup's experience.

Mint Songs, which developed tech to allow artists to mint songs and offer fans other NFT items, said on Twitter that it was winding down in September last year and would not mint new NFTs on its Mint Songs Factory (Polygon) and Mint Songs V2 (Ethereum). The company worked with artists like Gramatik, Mark de Clive-Lowe and Black Dave. It had previously raised $4.3 million from investors like Freestyle Capital and Castle Island Ventures. Napster didn't disclose the value of the acquisition.

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