News – Page 46

Ripple (XRP) CTO Shares Thoughts on Proposed XRPL Governance Changes

Ripple’s Chief Technology Officer, David Schwartz, has shown his support for the proposed governance changes. The move comes in response to a comprehensive proposal by XRP Ledger developer David Fuelling. Schwartz described the proposal as a “straw man” to stimulate open dialogue and gather diverse suggestions. Some people have expressed skepticism about the proposal, suggesting that it may not be the right solution. The proposal is a starting point and opportunity for collaborative refinement and exploration. The Foundation was receptive to the proposal.

Source: Wayne Jones, 2024-01-30; https://cryptopotato.com/ripple-xrp-cto-shares-thoughts-on-proposed-xrpl-governance-changes/

Argo Blockchain Shares Plunge 8% as Bitcoin Production Slumps 20% in January

Argo Blockchain PLC, a London-based cryptocurrency miner, announced on Monday a drop in Bitcoin production for January. The company attributed the decrease in mining output to a 20% decline in daily production compared to December. According to the London Stock Exchange, Argo Blockchain’s shares are by 7.81% to 14.75 pence each in London on Monday, February 5. Winter weather conditions, part of the decline in production, was cited as a contributing factor.

Source: Wayne Jones, 2024-02-06; https://cryptopotato.com/argo-blockchain-shares-plunge-8-as-bitcoin-production-slumps-20-in-january/

Google’s Swift Move Towards Web3 Adoption: Advancements and Implications

Google has partnered with Polygon Labs to develop Web3. Web3 places decentralization at its core. It leverages blockchain technology to empower users with greater control over their data and digital assets. This article delves into the advancements heralded by Google’s swift adoption of the Web3 platform. It also explores the potential of decentralized technologies to revolutionize the digital landscape, setting the stage for a future where users have unprecedented agency in their online experiences. The full article can be read here: http://www.dailymail.co.uk/news/article-273852/Google-partners-polygon-labs-to-develop-Web3.

Source: Wayne Jones, 2023-10-22; https://cryptopotato.com/googles-swift-move-towards-web3-adoption-advancements-and-implications/

Next Bull Market Predictions: Bitget Study Forecasts Bitcoin Prices Exceeding $150,000

A study by Bitget focusing on the upcoming Bitcoin halving event indicated a positive outlook as market conditions continue to recover. 84% of the study participants foresee Bitcoin surpassing the previous bull market’s all-time high of $69,000. While optimism runs high across most regions, East Europe emerges as a notable exception. Over half of the respondents predicted Bitcoin prices to fluctuate between $30,000 and $60,000, underscoring the buoyant sentiments prevailing in the market.

Source: Chayanika Deka, 2024-02-05; https://cryptopotato.com/next-bull-market-predictions-bitget-study-forecasts-bitcoin-prices-exceeding-150000/

Ethereum’s Dencun Upgrade Is Now One Step Closer After This Deployment

The highly-anticipated Dencun upgrade of Ethereum was successfully deployed on the Sepolia testnet on Jan. 30. This marks the second deployment out of three planned testnet launches, bringing the Ethereum community one step closer to embracing the features of DencUn. The Sepoliatestnet follows the earlier deployment on the Goerli testnet in January. Despite the initial challenges, the upgrade was successfully completed on the goerlitestnet on January 28. The upgrade was initially delayed due to a bug in the Prysm client.

Source: Wayne Jones, 2024-02-01; https://cryptopotato.com/ethereums-dencun-upgrade-is-now-one-step-closer-after-this-deployment/

IRS Extends Comment Period for Crypto Reporting Regulations Amid Public Interest Surge

The Treasury and IRS have announced an extension of two weeks for the comment period on its proposed crypto reporting regulations. The final date for feedback has been extended to mid-November in response to the rule’s significant public interest since its August announcement. The proposed regulations focus on defining “brokers” in the crypto industry, including trading platforms, payment processors, digital asset-hosted wallet providers, and individuals who redeem digital assets the IRS has announced an update in the Federal Register.

Source: Wayne Jones, 2023-10-28; https://cryptopotato.com/irs-extends-comment-period-for-crypto-reporting-regulations-amid-public-interest-surge/

Do Kwon in Legal Storm as Jump Trading’s Role in TerraUSD Case Takes Center Stage

Do Kwon, the co-founder of Terraform Labs, is at the center of a legal storm as new revelations regarding the terraUSD (UST) stablecoin collapse in 2022 come to light. Kwon was sued by the U.S. Securities and Exchange Commission (SEC) for allegedly providing false information to investors. An Oct. 18 in a New York court has shed light on the possible significance of Jump Trading LLC in the case. The market maker reportedly made substantial profits, totaling $1.28 billion, during the turbulent period when the TerraUSD ecosystem was unraveling.

Source: Wayne Jones, 2023-10-20; https://cryptopotato.com/do-kwon-in-legal-storm-as-jump-tradings-role-in-terrausd-case-takes-center-stage/

Bitcoin Defends $34K, Chainlink and Aptos Soar by 6% (Weekend Watch)

Bitcoin is at the end of one of its most favorable and positive trading weeks in a long time. Several altcoins have outperformed the largest cryptocurrency, including Chainlink, Aptos, and Cardano. Bitcoin’s price slipped under the $34,000 level but the bulls managed to intercept the move and the asset stands just north of it as of now. This came amid ongoing speculations about the potential approval of BlackRock’s spot Bitcoin ETF application and a with the ticker.

Source: Jordan Lyanchev, 2023-10-29; https://cryptopotato.com/bitcoin-defends-34k-chainlink-and-aptos-soar-by-6-weekend-watch/

Mac Users Beware: Kaspersky Alerts About a Malicious Exploit Targeting Your Crypto Wallets

The exploit is designed to deceive Bitcoin and Exodus wallet users into unwittingly downloading a fraudulent version of the software. Kaspersky mentioned that the malware, distributed through pirated applications, is distinctive in its focus on compromising wallet applications. Unlike typical proxy trojans or remote control software, this malware stands out in two ways. First, it utilizes DNS records to deliver a malicious Python script. Second, it replaces a wallet application with its infected version. This allows the malware to steal the secret phrase to access cryptocurrency stored in the compromised wallets.

Source: Wayne Jones, 2024-01-28; https://cryptopotato.com/mac-users-beware-kaspersky-alerts-about-a-malicious-exploit-targeting-your-crypto-wallets/

Bitcoin Dominates Institutional Inflows on the Back of Recent BTC Price Rally

Digital asset investment products received a total of $326 million in inflows, marking the highest weekly influx since July 2022. Bitcoin dominated the total, accounting for 90% of the total at $296 million. The asset manager speculated that the rising optimism from investors that the US Securities and Exchange Commission would approve a spot-based Bitcoin ETF in the country could be the reason behind the massive inflows. The recent surge in prices led to an influx of $15 million into short Bitcoin investment products. Meanwhile, Solana led the pack among altcoins with inflows of $24 million.

Source: Chayanika Deka, 2023-11-01; https://cryptopotato.com/bitcoin-dominates-institutional-inflows-on-the-back-of-recent-btc-price-rally/

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