Author: Lora

Cryptocurrency miners are gearing up for significant challenges as the industry braces for the 2024 Bitcoin halving event. According to CoinShares’ analysis, Riot, TeraWulf, and CleanSpark are positioned as the most resilient companies in the face of this impending transformation. Scheduled for April 2024, the Bitcoin halving involves halving the block reward for miners, leading to a reduced rate of new Bitcoin creation. While this deflationary measure is inherent to Bitcoin’s design, it poses unique challenges for miners. CoinShares predicts a post-halving increase in production costs, with estimates rising from $16,800 and $25,000 in the third quarter of 2023 to…

In a dramatic turn of events, a transaction involving nearly $15 billion worth of XRP from an unidentified wallet to the Bitfinex exchange, initially believed to be a massive transfer, has turned out to be a thwarted hacking attempt through a “Partial Payments Exploit.” The incident was initially highlighted by Whale Alert, reporting a staggering transfer of 25.6 billion XRP, almost half of the cryptocurrency’s circulating supply, to Bitfinex from an anonymous wallet. However, the excitement was short-lived as Whale Alert retracted the post, attributing it to an issue with reading the Ripple node response that led to an erroneous…

SEC Commissioner Mark Uyeda, despite voting in favor of the recent approvals for spot Bitcoin exchange-traded funds (ETFs), has publicly expressed reservations about the decision-making process adopted by the commission. The United States Securities and Exchange Commission (SEC) granted approval for several spot Bitcoin ETFs on Wednesday, signaling a significant step in integrating cryptocurrency into mainstream finance. However, Commissioner Uyeda, a key figure in the approval process, has raised concerns regarding the analytical methodology employed by the SEC in reaching its decision. While affirming his support for the Bitcoin ETF applications, Uyeda criticized what he perceives as a missed opportunity…

A recent analysis suggests that the abrupt Bitcoin price decline was a response to what was initially perceived as legitimate news regarding the approval of spot ETFs, leading to a classic “sell the news event.” Conducted by Matteo Greco, a research analyst at Fineqia International, the analysis challenges the notion that the significant sell-off in the Bitcoin market was solely due to fake news. Greco revealed that the price hit a minimum of approximately $44,750 precisely one minute before Gary Gensler’s tweet. At 21:11 UTC, when the SEC’s tweet announcing the approval was posted, Bitcoin’s price was around $46,700. The…

Digital Asset derivatives Exchange BitMEX has made a celestial move by launching Vulcan Centaur, a lunar rocket that carries a crypto wallet containing one physical Bitcoin. The rocket took off from the Cape Canaveral Space Force Station in Florida and is scheduled to reach the Moon on February 23. Astrobotic Technology’s spacecraft Peregrine-1, a robotic company, will carry the physical Bitcoin and the accompanying space crew after separating from Vulcan Centaur. BitMEX revealed that the physical Bitcoin is also a crypto wallet with a minimum of 1 BTC, featuring a public vanity address that allows anyone to send additional Bitcoin…

Cryptocurrency hacking group Pink Drainer has been identified as the perpetrator behind the recent $4.4 million LINK user drain, raising the total number of victims to 9,068 and the stolen amount to $18.7 million. On-chain analytics firm Etherscan reported another user falling victim to an increased allowance transaction, losing approximately 275,700 LINK in two separate transactions, valued at around $4.4 million. The flagged transactions revealed 68,925 LINK sent to Pink Drainer in the first transaction, followed by 206,775 LINK transferred to another wallet. Analysts underscore the need for heightened vigilance, noting Pink Drainer’s history of involvement in multiple scams. Reddit…

Rejuve, a forward-thinking company, is combining the power of artificial intelligence (AI) and cryptocurrency to enhance individuals’ health and extend their lifespan. The company’s innovative approach involves leveraging sophisticated AI to create detailed models of human bodily functions. The AI framework incorporates data from the Rejuve Network participants and various biological and medical databases. CEO Jasmine Smith highlighted the significance of personalized medicine enhanced by AI, stating, “it can analyze the data and assist clinical providers in their decision-making.” Rejuve has opened the waitlist for its Longevity App, available on iOS and Android. Users can input personal health details from…

Reddit users recently uncovered a deepfake video featuring Ripple CEO Brad Garlinghouse, promoting a scam encouraging XRP holders to send their coins to a specified address with the promise of receiving double the amount—a common tactic employed by fraudsters. Despite user reports, Google’s Trust and Safety Team allegedly responded to one Reddit user, stating that the advertisement doesn’t violate their policies. The deepfake video, noticed on YouTube between November 25 and December 3, showcased an AI-generated likeness of Garlinghouse prompting viewers to send XRP tokens to a designated address for a purported giveaway. Ripple’s CTO, David Schwartz, had previously cautioned…

In a strategic shift, ARK Invest has continued to reduce its exposure to the Grayscale Bitcoin Trust (GBTC), jeopardizing GBTC’s position as the third-largest holding in ARK’s Next Generation Internet ETF (ARKW). On December 18, ARK executed a substantial sale of 809,441 GBTC shares from ARKW, amounting to a noteworthy $27.9 million at the closing share price of $34.5, as indicated in a trade notification obtained by Cointelegraph. This ongoing divestment signals a further diminishing interest in GBTC within ARK’s portfolio, bringing GBTC perilously close to losing its third-place status within ARKW’s holdings. Despite the recent sell-off, as of December…

The Russian Ministry of Finance has proposed a groundbreaking concept of treating cryptocurrencies as exportable products resulting from mining activities, aligning them with traditional exports like natural gas. Ivan Chebeskov, the Deputy Minister of Finance, presented this idea during a round table discussion on “Cryptocurrency and the Future of Digital Finance.” The suggested regulations for cryptocurrency exports draw inspiration from those governing natural gas exports, allowing miners to sell their digital assets as internationally tradable products. This move marks a significant potential shift in the dynamics of the digital currency industry. This proposal comes on the heels of a bill…