🔸️Ethereum | Bitcoin & Altcoin News

2024-05-01 20:49:58 Bitcoin faces potential miner capitulation as hash rate continues to drop

The price of Bitcoin has tumbled from its highs of around $73,500 to below $57,000, and as a result of this, further hash rate drops are expected. Luxor’s “hashprice” metric, which quantifies the expected value of 1 TH/s of hashing power per day, currently sits at a five-year low of $0.045 per terahash/second per day. If this trend persists, the digital asset community may witness a miner capitulation event, where Bitcoin mining becomes too expensive relative to the cost of mining.

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2024-05-01 07:44:58 Binance founder Changpeng ‘CZ’ Zhao sentenced to 4 months in prison

Former Binance CEO Changpeng Zhao has been sentenced to four months in prison, according to a report from Bloomberg on April 30. Zhao’s final sentence is considerably less than the three-year prison sentence prosecutors were seeking — more than twice the recommended guideline for the relevant charges. A separate report from Fortune noted that Zhao will pay a $50 million personal fine, allowing him to keep most of his $43 billion in personal wealth. Zhao will be the wealthiest individual in the US prison system, according to the report.

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2024-04-30 19:49:58 Coinbase rolls out Lightning Network support in collaboration with Lightspark

Coinbase, the largest U.S. crypto exchange by trading volume, is rolling out support for the Lightning Network from today, enabling a faster and cheaper way for its users to send, receive or pay with bitcoin directly from their account. Previously, bitcoin transfers on Coinbase were processed on-chain, meaning transactions could take between 10 minutes and two hours, incurring high fees during periods of network congestion.

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2024-04-30 08:45:13 Consensys alleges the SEC considered ether to be a security over a year ago

The U.S. Securities and Exchange Commission approved a "formal order" to investigate ethereum a year ago, Consensys Software Inc. alleged in a newly unredacted complaint on Monday. The blockchain and web3 development company behind the well-known MetaMask Wallet said the regulator "already made what it knew would be a destabilizing reversal of its declaration that ETH was not a security" by early 2023.

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2024-04-29 21:05:24 Binance's CZ Will Spend Less Than a Year in Prison, Polymarket Traders Bet

Binance's founder and former CEO, Changpeng "CZ" Zhao, will be sentenced in a U.S. court in Seattle Tuesday. The Department of Justice said in a recent sentencing memo that he should spend three years in prison, citing the scale of his misconduct. "Yes" shares for the "less than six months" contract on the crypto-based prediction market platform were trading at about 42 cents Monday, indicating a 42% chance CZ will be out in less than six months.

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2024-04-29 08:50:12 Binance-linked HKVAEX Officially Stops Supporting Hong Kong Users From April 30

Hong Kong-based crypto exchange HKVAEX, affiliated with Binance, has announced the permanent closure of its trading platform. The decision comes just over a year after HKVAEX launched its virtual asset trading platform (VATP) in February 2023. The move was aimed at securing its position as a pre-existing service provider to meet regulatory requirements set by the Securities and Futures Commission (SFC).

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2024-04-28 10:50:21 DOJ Counters Motion to Dismiss Charges Against Tornado Cash Developer

The government’s submission to the Southern District of New York opposes dismissing the charges against Roman Semenov, who, along with Roman Storm, is accused of operating Tornado Cash as a mechanism for cybercriminals to launder more than $1 billion, including monies linked to North Korea’s armament programs. The document specifies that from September 2020 to August 2022, Tornado Cash reportedly engaged in extensive laundering activities, using blockchain anonymity technology to conceal the origins of illegal funds.

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2024-04-27 20:59:58 Bitcoin Breaks Daily Transaction Record Days After Halving

The new record comes three days after the Bitcoin Halving, coinciding with the launch of Runes. The launch of Runes sparked a rapid increase, demonstrating growing interest and utility in cryptocurrencies, setting a new all-time high in Bitcoin’s transaction activity. Runes, a new token standard on the Bitcoin blockchain, has dominated transactions since its launch following the halving on April 20, accounting for over two-thirds of all Bitcoin transactions. With more than 2.38 million transactions processed, Runes make up 68% of the total.

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2024-04-27 08:04:58 Pantera Capital’s Fund V Targets $1 Billion for Diverse Blockchain Investments

Pantera Capital is seeking to secure $1 billion for its new fund, ‘The Panter Fund V. ‘ It is designed to provide investors with exposure to a wide range of blockchain-based assets. The Pantera Fund V has been designed to be an all-encompassing product, differing from the digital asset investment manager’s previous funds with more specific investment focuses such as the Liquid Token Fund, Early Stage Token Fund, Bitcoin Fund, and Venture Funds. Qualified investors must allocate a minimum of $1 million, with the first close scheduled for April 1, 2025.

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2024-04-26 10:55:27 Bitcoin ETFs in the US drive higher crypto allocations among institutional investors

Institutional investors increasingly sought exposure to crypto during the first quarter of the year following the launch of several US-based spot Bitcoin exchange-traded funds (ETFs) in January. The CoinShares Digital Fund Manager survey revealed that these institutional investors have significantly increased their digital asset allocations, reaching 3% in their portfolios. This marks the highest level since the survey’s inception in 2021.

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