Cointelegraph.com News https://cointelegraph.com Cointelegraph covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money. cointelegraph.com Thu, 28 Mar 2024 19:07:00 +0000 en hourly 1 Cointelegraph.com News https://cointelegraph.com https://cointelegraph.com/assets/img/CT_Logo_YG_tag.png Cointelegraph covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money. <![CDATA[ Crypto users react to Sam Bankman-Fried’s 25-year sentence ]]> https://cointelegraph.com/news/sam-bankman-fried-sentence-users-react Thu, 28 Mar 2024 17:40:00 +0000 https://cointelegraph.com/news/sam-bankman-fried-sentence-users-react

Many on social media suggested that 25 years was “too light” given the former FTX CEO’s crimes, speculating that he would end up serving less time in prison.

More than 500 days after the collapse of cryptocurrency exchange FTX, users have an answer for the number of years former CEO Sam “SBF” Bankman-Fried will face in prison: 25.

In a March 28 hearing, Judge Lewis Kaplan sentenced the former FTX CEO to 300 months in prison for his conviction related to misusing customer funds. Prosecutors had suggested up to 50 years in prison for SBF, while his defense attorneys requested the judge be lenient and only impose up to 6.5 years. The judge added the former CEO had committed perjury and intimidated witnesses.

Immediately following the announcement in the New York courtroom, crypto users jumped onto social media to express their thoughts. Many suggested that 25 years wasn’t enough time given longer sentences handed down for seemingly less serious crimes.

Read more

]]>
<![CDATA[ Price analysis 3/28: BTC, ETH, BNB, SOL, XRP, ADA, DOGE, AVAX, SHIB, TON ]]> https://cointelegraph.com/news/price-analysis-3-28-btc-eth-bnb-sol-xrp-ada-doge-avax-shib-ton Thu, 28 Mar 2024 17:30:00 +0000 https://cointelegraph.com/news/price-analysis-3-28-btc-eth-bnb-sol-xrp-ada-doge-avax-shib-ton

Bitcoin is looking positive, but the up move is likely to face stiff resistance above $72,000.

Bitcoin’s (BTC) recent fall does not seem to have dented the demand for the spot Bitcoin exchange-traded funds. After five days of successive net outflows last week, demand bounced back sharply with $418 million in net inflows into the ETFs on March 26 and $243 million inflows on March 27, according to Farside Investors data.

BlackRock CEO Larry Fink said in an interview with Fox Business that he was “pleasantly surprised” with the performance of the firm’s spot Bitcoin ETF, which was the “fastest growing ETF in the history of ETFs.” Fink added that he was “very bullish on the long-term viability of Bitcoin.”

On-chain analytics platform CryptoQuant said in its latest “Weekly Crypto Report” that Bitcoin’s demand skyrocketed from “40K Bitcoin at the start of 2024 to 213K Bitcoin” on March 26. That could create a “sell-side liquidity crisis” within the next year.

Read more

]]>
<![CDATA[ Here’s what happened in crypto today ]]> https://cointelegraph.com/news/what-happened-in-crypto-today Thu, 28 Mar 2024 17:22:53 +0000 https://cointelegraph.com/news/what-happened-in-crypto-today

Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, NFTs, Web3 and crypto regulation.

Former FTX CEO Sam Bankman-Fried has been sentenced to 25 years in prison. Logan Paul is in the news again after arguing in an interview that his CryptoZoo NFTs were not intended to scam people. Meanwhile, Ethereum “BlobScriptions” are taking off — and so are the fees. 

Former FTX CEO Sam Bankman-Fried, also known as SBF, has been handed a 25-year prison sentence in a U.S. federal court.

According to Judge Lewis Kaplan, SBF will serve 240 months and 60 months for his conviction on seven felony charges. He was also found guilty of tampering based on the events that led Judge Kaplan to revoke bail in August 2023.

Read more

]]>
<![CDATA[ US Treasurys tokenized on public blockchains top $1B ]]> https://cointelegraph.com/news/us-treasurys-tokenized-public-blockchains-top-1-billion Thu, 28 Mar 2024 17:10:00 +0000 https://cointelegraph.com/news/us-treasurys-tokenized-public-blockchains-top-1-billion

United States tokenized securities are predominantly held by Franklin Templeton and BlackRock funds.

United States Treasurys tokenized on public blockchains surpassed $1 billion as traditional financial firms continued to load securities on-chain amid a prolonged period of elevated interest rates.

Data compiled by 21.co and Dune Analytics shows that tokenized government securities stood at $1.07 billion in assets on March 28, distributed across 17 products. A majority of the assets are based on the Ethereum, Polygon and Stellar networks.

Leading the issuers is investment firm Franklin Templeton, with over $360.1 million in assets and 33.6% of the market share through its Franklin OnChain U.S. Government Money Fund (FOBXX). Using the Polygon and Stellar blockchains, the tokenized fund launched in 2021 and is represented by the BENJI token.

Read more

]]>
<![CDATA[ Web3 game Wilder World gets Epic Game Store listing during alpha testing ]]> https://cointelegraph.com/news/web3-nft-metaverse-game-wilder-world-gets-epic-game-store-listing Thu, 28 Mar 2024 17:00:00 +0000 https://cointelegraph.com/news/web3-nft-metaverse-game-wilder-world-gets-epic-game-store-listing

The makers of Wilder World claim that it will be the “ultimate game” by combining popular genres into a single experience.

Web3 game Wilder World has been given a listing on the Epic Games Store ahead of its as-of-yet unscheduled launch. 

Wilder World is being described as “the ultimate game” by the publisher, also known as Wilder World. Per a press release seen by Cointelegraph, the game features “a free-roam virtual world that begins in Wiami, a metaverse city to explore, race, socialize, and much more.“

All items, equipment, land, and avatars in the world will be “tradable digital assets on the Wilder World marketplace.”

Read more

]]>
<![CDATA[ FTX estate to unload $7.6B locked Solana balance at 68% discount ]]> https://cointelegraph.com/news/ftx-estate-unload-locked-solana-balance-discount Thu, 28 Mar 2024 16:45:16 +0000 https://cointelegraph.com/news/ftx-estate-unload-locked-solana-balance-discount

Buyers are required to agree to a vesting period of four years for their FTX SOL purchase.

The estate of bankrupt cryptocurrency exchange FTX will sell its balance of 41 million Solana (SOL), worth $7.65 billion at the time of publication, to institutional investors at around $60, or a 68% discount to its current market price.

As told by FTX creditor Sunil Kavuri during FTX co-founder and former CEO Sam Bankman-Fried’s (SBF) sentencing on March 28, not all customers have been made whole by the exchange's bankruptcy. “Sullivan & Cromwell [FTX bankruptcy counsel] has trampled over our property rights,” Kavuri alleged. “They have liquidated billions of dollars of crypto assets. There’s a token S&C sold at 11 cents; it’s now trading at two dollars. FTX had $10 billion [misprint] in Solana tokens — they sold it at 70% discount."

In an earlier victim impact statement filed by Kavuri, the FTX creditor claimed that the FTX estate “owns 41.1 million Solana tokens which should be distributed to FTX creditors. They were planning to sell them for $60, the price today is $187." Despite the creditors’ claims, presiding Judge Lewis A. Kaplan reiterated that the March 28 hearing was solely for sentencing SBF, and not for raising issues with creditors’ claims. “I accept your assertion the claim customers will be made whole is inaccurate," said Judge Kaplan. 

Read more

]]>
<![CDATA[ 3 metrics hint that the Ethereum (ETH) price correction is not over ]]> https://cointelegraph.com/news/3-metrics-hint-that-the-ethereum-eth-price-correction-is-not-over Thu, 28 Mar 2024 16:30:00 +0000 https://cointelegraph.com/news/3-metrics-hint-that-the-ethereum-eth-price-correction-is-not-over

Ethereum price has had a rocky week and data suggests that more downside could be on the way.

After rallying to $4,091 leading into the Dencun upgrade, Ether (ETH) has underperformed over the last month compared to Bitcoin and the broader crypto market, leading traders to doubt whether the altcoin’s downtrend is over.

To put this into context, Bitcoin’s (BTC) price fell by 18% during the same period, while the total cryptocurrency market capitalization dropped by 16%.

A number of market and technical indicators show that ETH may witness a deeper correction before embarking on a sustained recovery.

Read more

]]>
<![CDATA[ SingularityNet, Fetch.AI, Ocean Protocol merger will drive decentralized AI development: ChainGPT CEO ]]> https://cointelegraph.com/news/singularity-net-fetch-ai-ocean-protocol-merger-drive-decentralized-ai-development-chaingpt-ceo Thu, 28 Mar 2024 16:10:00 +0000 https://cointelegraph.com/news/singularity-net-fetch-ai-ocean-protocol-merger-drive-decentralized-ai-development-chaingpt-ceo

The token merger will drive new resources and create new collaborations to bolster decentralized AI development, ChainGPT’s CEO told Cointelegraph.

The upcoming token merger of prominent artificial intelligence (AI) protocols SingularityNet, Fetch.ai, and Ocean Protocol will set a new standard for decentralized AI development, Ilan Rakhmanov, the CEO and founder of ChainGPT, told Cointelegraph in an interview. He explained:

The $7.5 billion AI token merger was confirmed on March 27, hours after reports started emerging of the potential deal. The three protocols are united by the common goal of developing blockchain-based decentralized AI protocols, which can't be controlled by centralized parties or large stakeholders.

The high-level merger is a testament to the benefits of decentralized AI over its centralized counterparties, according to ChainGPT’s Rakhmanov:

Read more

]]>
<![CDATA[ Sam Bankman-Fried sentenced to 25 years in prison ]]> https://cointelegraph.com/news/sam-bankman-fried-sentenced-years-prison-hold Thu, 28 Mar 2024 15:50:32 +0000 https://cointelegraph.com/news/sam-bankman-fried-sentenced-years-prison-hold

Judge Lewis Kaplan found that the former FTX CEO also committed witness tampering and perjury based on his testimony at trial over user funds.

Former FTX CEO Sam “SBF” Bankman-Fried will serve 25 years in prison following a sentencing hearing in federal court.

On March 28, Judge Lewis Kaplan of United States District Court for the Southern District of New York sentenced Bankman-Fried to 240 months and 60 months for a total of 25 years for his conviction on seven felony charges. SBF was the first person tied to FTX and Alameda Research to face prison time following the collapse of the exchange in November 2022. 

Judge Kaplan found that SBF also committed witness tampering based on the events that led him to revoke bail in August 2023 and perjury based on his testimony at trial over FTX user funds. He acknowledged Bankman-Fried’s “social awkwardness” but said, based on former Alameda Research CEO Caroline Ellison’s testimony, SBF knew he was at fault but was “not going to admit a thing.”

Read more

]]>
<![CDATA[ Bitcoin whales copy classic bull market moves as BTC price eyes $72K ]]> https://cointelegraph.com/news/bitcoin-whales-copy-classic-bull-market-btc-price-72k Thu, 28 Mar 2024 15:16:13 +0000 https://cointelegraph.com/news/bitcoin-whales-copy-classic-bull-market-btc-price-72k

Bitcoin sets a positive tone into the U.S. holiday weekend as a Coinbase-induced BTC price dip fails to keep bulls back for long.

Bitcoin (BTC) sought higher levels at the week’s last Wall Street open as bulls refused to succumb to market nerves.

Data from Cointelegraph Markets Pro and TradingView followed resurgent BTC price action as it passed $71,000.

Flash volatility characterized the day prior as an ongoing legal battle between United States exchange Coinbase and regulator the Securities and Exchange Commission (SEC) sent Bitcoin below key $69,000 support.

Read more

]]>
<![CDATA[ Nansen integrates blockchain data from SportFi chain Chiliz and Ethereum rollup zkSync ]]> https://cointelegraph.com/news/nansen-blockchain-data-chiliz-zksync Thu, 28 Mar 2024 15:00:00 +0000 https://cointelegraph.com/news/nansen-blockchain-data-chiliz-zksync

The integration provides a high-level overview of both ecosystems, allowing cryptocurrency teams to run their own queries and get insights from the raw data.

Cryptocurrency users looking for the latest “alpha” in SportFi and zero-knowledge rollups can keep close tabs on data and insights from blockchain Chiliz and Ethereum layer 2 zkSync through new integrations on Nansen.

The blockchain analytics platform announced the integration of the two different protocols on March 28, unlocking on-chain data analytics and insights for its users.

Nansen data journalist Martin Lee told Cointelegraph that the integration provides a high-level overview of both ecosystems, allowing cryptocurrency teams to run their own queries and get insights from the raw data itself via Nansen query:

Read more

]]>
<![CDATA[ Creating ‘good’ AGI that won’t kill us all: Crypto’s Artificial Superintelligence Alliance ]]> https://cointelegraph.com/magazine/creating-good-agi-that-wont-kill-us-all-with-crypto-artificial-superintelligence-alliance/ Thu, 28 Mar 2024 13:30:00 +0000 https://cointelegraph.com/magazine/creating-good-agi-that-wont-kill-us-all-with-crypto-artificial-superintelligence-alliance/

Ignore the AI doomers: The Artificial Superintelligence Alliance has a plan to create AGI that makes everyone’s lives better. Can they do it?

After a year of increasingly dire warnings about the imminent demise of humanity at the hands of superintelligent artificial intelligence (AI), Magazine is in Panama at the Beneficial AGI Conference to hear the other side of the story.

Attendees include an eclectic mix of transhumanists, crypto folk, sci-fi authors including David Brin, futurists and academics.  

Were at the conference run by SingularityNET, a key member of the proposed new Artificial Superintelligence Alliance, to find out what happens if everything goes right with creating artificial general intelligence (AGI) human-level, artificial general intelligence.

But how do we bring about that future, rather than the scenario in which Skynet goes rogue and kills us all?

Read more

]]>
<![CDATA[ Crypto is ‘too big to ignore’ for the charitable sector ]]> https://cointelegraph.com/news/crypto-adoption-charity-donation Thu, 28 Mar 2024 13:01:00 +0000 https://cointelegraph.com/news/crypto-adoption-charity-donation

A growing number of charities and nonprofits are embracing cryptocurrency.

Cryptocurrency adoption in the charity space is growing quickly, with 56% of the top 100 charities in the United States now accepting crypto donations as of January 2024, according to the 2024 annual report from crypto charity organization The Giving Block. 

This marks a huge turnaround for nonprofits, many of which were initially hesitant to adopt crypto payments.

As the report states, “When we launched The Giving Block in 2018, we had to practically bust down doors to get nonprofits to talk to us about bitcoin.”

Read more

]]>
<![CDATA[ Real-world data for blockchain apps: Gora joins Cointelegraph Accelerator ]]> https://cointelegraph.com/news/real-world-data-for-blockchain-apps-gora-joins-cointelegraph-accelerator Thu, 28 Mar 2024 13:00:00 +0000 https://cointelegraph.com/news/real-world-data-for-blockchain-apps-gora-joins-cointelegraph-accelerator

Gora, a decentralized blockchain oracle network that enables developers to use off-chain data in their DApps, joins the Cointelegraph Accelerator program.

Gora, a decentralized blockchain oracle network, joins the ranks of the Cointelegraph Accelerator program.

Smart contracts represent a vastly underutilized cornerstone in the blockchain ecosystem, harboring untapped potential to redefine traditional business processes, legal agreements and automated transactions. Representing a market expected to reach $8.79 billion by 2030, smart contracts have the capacity to increase transparency, reduce costs and enhance efficiency across numerous industries.

Small and medium-sized enterprises are losing out on a $20 billion opportunity in smart contracts. Source: Gora

Read more

]]>
<![CDATA[ Bybit crypto exchange launches trading platform in the Netherlands ]]> https://cointelegraph.com/news/crypto-exchange-bybit-netherlands Thu, 28 Mar 2024 12:57:32 +0000 https://cointelegraph.com/news/crypto-exchange-bybit-netherlands

Major global crypto exchange Bybit announced the launch of Bybit.nl as a new regulated crypto trading platform in the Netherlands.

Bybit, one of the world’s largest cryptocurrency exchanges by trading volumes, is expanding operations in Europe after facing regulatory scrutiny in Hong Kong.

On March 28, Bybit officially announced the launch of its digital asset platform, Bybit.nl, in the Netherlands. The new local trading platform is regulated in the country and designed to provide Dutch users access to cryptocurrency trading and education resources.

The launch of Bybit.nl is enabled through collaboration with Satos, one of the oldest Bitcoin (BTC)-focused companies in the Netherlands. Through the partnership, Bybit’s Dutch users can deposit and withdraw fiat currency and trade over 300 pairs.

Read more

]]>
<![CDATA[ Prisma Finance exploited in $10 million breach ]]> https://cointelegraph.com/news/prisma-finance-exploited-10-million Thu, 28 Mar 2024 12:26:49 +0000 https://cointelegraph.com/news/prisma-finance-exploited-10-million

Prisma Finance engineers have already halted the DeFi protocol to investigate the attack.

Decentralized finance (DeFi) protocol Prisma Finance was exploited for around $10 million worth of cryptocurrencies on March 28.

On-chain security alert provider Cyvers were the first to detect the anomaly, according to a March 28 X post:

“Our system has detected multiple suspicious transactions with @PrismaFi and still ongoing! Total loss so far is around $9M. The attacker has been funded by @FixedFloat! Our system has detected the malicious contract 2 min earlier than hack transactions!”

Read more

]]>
<![CDATA[ Why is Dogecoin price up today? ]]> https://cointelegraph.com/news/why-is-dogecoin-price-up-today Thu, 28 Mar 2024 12:24:10 +0000 https://cointelegraph.com/news/why-is-dogecoin-price-up-today

DOGE's price surge is driven by increased whale accumulation, X payment platform's license approvals, and heightened interest in the derivatives market.

On March 28, Dogecoin (DOGE) price soared 13.35% to reach $0.21, its highest level since January 2022. In doing so, the memecoin has outperformed most of its top-ranking rivals, including Bitcoin (BTC) and Ether (ETH), on a 24-hour performance metric.

Let's discuss the main factors driving the Dogecoin price upward today.

Dogecoin's gains are part of an overall recovery trend that has seen its price rebound 79.5% from its local low of $0.122 established on March 20. And it appears Elon Musk has been one of the main factors behind the sharp rise.

Read more

]]>
<![CDATA[ Marc Andreessen, Galaxy Digital, Accolade, back new $75 million crypto fund: Report ]]> https://cointelegraph.com/news/marc-andreessen-galaxy-digital-75-million-crypto-fund Thu, 28 Mar 2024 12:23:56 +0000 https://cointelegraph.com/news/marc-andreessen-galaxy-digital-75-million-crypto-fund

The fund was announced during an uptick of institutional interest in crypto investments.

Prominent venture capitalists Marc Andreessen, Galaxy Digital, and Accolade Partners are among the top contributors to crypto venture capital (VC) firm 1kx’s latest fund.

1kx raised $75 million, with Chris Dixon, a partner at Andreessen Horowitz, as one of the limited partners, Lasse Clausen, the founding partner of 1kx, told Bloomberg on March 28.

Private equity firm Accolade is the anchor investor in the new fund, according to Clausen.

Read more

]]>
<![CDATA[ Biden administration takes action to safeguard public from AI risks ]]> https://cointelegraph.com/news/biden-administration-safeguard-public-ai-risks Thu, 28 Mar 2024 12:12:01 +0000 https://cointelegraph.com/news/biden-administration-safeguard-public-ai-risks

By Dec. 1, agencies must establish specific safeguards for AI applications that could affect the rights or safety of Americans, as outlined in a White House fact sheet.

The White House has unveiled its inaugural comprehensive policy for managing the risks associated with artificial intelligence (AI), mandating that agencies intensify reporting on AI utilization and tackle potential risks posed by the technology.

According to a March 28 White House memorandum, federal agencies must, within 60 days, appoint a chief AI officer, disclose AI usage and integrate protective measures.

This directive aligns with United States President Joe Biden’s executive order on AI from October 2023. On a teleconference with reporters, Vice President Kamala Harris said:

Read more

]]>
<![CDATA[ Hashing It Out: Can blockchain create a sovereign internet? ]]> https://cointelegraph.com/news/hashing-it-out-blockchain-create-sovereign-internet Thu, 28 Mar 2024 12:05:00 +0000 https://cointelegraph.com/news/hashing-it-out-blockchain-create-sovereign-internet

In the latest episode of Cointelegraph’s Hashing It Out podcast, the co-founder of XYO Network, Arie Trouw, explains how blockchain technology can help fight fake information on the internet alongside a general change in attitude.

A week after experiencing an internet blackout in his country, Hashing It Out host Elisha Owusu Akyaw looks for answers on how blockchain technology can create a more sovereign internet in an interview with the co-founder of XYO Network, Arie Trouw.

The episode also covers data sovereignty and the importance of privacy in the ever-evolving internet landscape. The conversation between Owusu Akyaw and Trouw explores new issues like elections and fake news, and how blockchain tech could be used to verify the authenticity of information on social media. 

Trouw explains that the sovereign internet is based on that idea of the original version of the internet (Web1) but with the functionalities of Web2 and Web3.

Read more

]]>
<![CDATA[ XRP price-to-sales ratio double that of Nvidia ]]> https://cointelegraph.com/news/xrp-price-sale-ratio-larger-nvidia Thu, 28 Mar 2024 11:08:04 +0000 https://cointelegraph.com/news/xrp-price-sale-ratio-larger-nvidia

The price-to-sales ratio is used to assess the potential of an investment, with lower ratios signaling more attractive opportunities.

The XRP token’s price-to-sales ratio is nearly double that of Nvidia, one of the most traded stocks on the market. 

The XRP (XRP) token has a price-to-sale ratio of 61.689, while Nvidia has a price-to-sales ratio of 37. This ratio is calculated by dividing a company’s market capitalization by the company’s revenue or total sales over the past 12 months. The lower the ratio, the more attractive the investment.

Ripple’s XRP ledger generated over $583,000 worth of network fees in 2023, according to Messari. In comparison, Nvidia generated $26.97 billion in revenue during 2023, according to its 2023 fiscal report.

Read more

]]>
<![CDATA[ YouTuber Logan Paul argues CryptoZoo ‘isn’t a scam’ in new documentary ]]> https://cointelegraph.com/news/logan-paul-cryptozoo-documentary-lawsuit-nft Thu, 28 Mar 2024 10:58:29 +0000 https://cointelegraph.com/news/logan-paul-cryptozoo-documentary-lawsuit-nft

Logan Paul said that it was not a scam but a project he was simply “incapable of handling at the time.”

YouTuber Logan Paul has argued that his infamous CryptoZoo project, which resulted in many investors losing money, was not a scam.

In a new documentary, 5 Months with Logan Paul, journalist Graham Bensinger sat down with Paul to get his side of the story on the CryptoZoo nonfungible token (NFT) gaming project.

The duo spoke about the many allegations hurled at the internet celebrity, with Bensinger reiterating the point that the exposure brought by Paul “led people to lose money.”

Read more

]]>
<![CDATA[ Indonesia to implement regulatory sandbox for crypto assets ]]> https://cointelegraph.com/news/indonesia-implement-regulatory-sandbox-crypto Thu, 28 Mar 2024 10:43:11 +0000 https://cointelegraph.com/news/indonesia-implement-regulatory-sandbox-crypto

The Indonesian financial authorities said that by the beginning of 2025, the government will implement a regulatory sandbox for crypto assets in an effort to prevent fraudulent investments.

The Indonesian Financial Services Authority (OJK) said that local financial services institutions offering new products and services must be included in the regulatory sandbox or leave room for testing upcoming innovations, including crypto asset products. 

According to a report by local Indonesian media outlet DetikFinance, once regulated and supervised, crypto assets will also need to go through a regulatory sandbox in the future.

This means crypto firms in the sandbox stage will have to be evaluated by the regulator before being approved to operate in the country. 

Read more

]]>
<![CDATA[ Covered call options strategy, explained ]]> https://cointelegraph.com/explained/covered-call-options-strategy Thu, 28 Mar 2024 10:15:00 +0000 https://cointelegraph.com/explained/covered-call-options-strategy

Covered call options offer a way to earn income from your crypto holdings. Discover how this strategy works, as well as the potential benefits and considerations before you trade.

A crypto options contract grants the holder the right, but not the obligation, to purchase (call option) or sell (put option) an underlying cryptocurrency at a predetermined price (the strike price) on or before a specified date (the expiration date).

Instead of holding the actual asset, traders bet on the fluctuations in value of the underlying cryptocurrency. If investors believe prices will rise, they will buy calls; if they believe prices will fall, they will buy puts. 

Read more

]]>
<![CDATA[ Canadian authorities move to seize assets tied to QuadrigaCX CEO ]]> https://cointelegraph.com/news/canadian-authorities-seize-assets-quadrigacx-ceo Thu, 28 Mar 2024 09:28:56 +0000 https://cointelegraph.com/news/canadian-authorities-seize-assets-quadrigacx-ceo

According to the order, the assets allegedly are the proceeds of criminal activities linked to Michael Patryn, a co-founder of Quadriga Coin Exchange, and Gerald Cotten.

The director of civil forfeiture in the Canadian province of British Columbia has made an unexplained wealth order to confiscate cash, 45 gold bars and luxury items found in a safe deposit box linked to a co-founder of the QuadrigaCX cryptocurrency exchange.

An unexplained wealth order is a type of court order that compels a person to explain how they acquired their assets. Mike Farnworth, the province’s minister of public safety and solicitor general, said in a statement:

QuadrigaCX, once the largest cryptocurrency exchange in Canada, became insolvent in February 2019, shortly after its co-founder, Gerald Cotten, died in India, taking the private keys to QuadrigaCX’s offline storage systems to the grave.

Read more

]]>
<![CDATA[ Elon Musk offers users free premium features on X, crypto scammers included ]]> https://cointelegraph.com/news/elon-musk-free-premium-x-crypto-scams Thu, 28 Mar 2024 08:53:05 +0000 https://cointelegraph.com/news/elon-musk-free-premium-x-crypto-scams

Elon Musk rolled out the paid verification model on X, earlier known as “Twitter Blue,” to fight the scammers and spammers thriving on the platform before his takeover.

Elon Musk will no longer charge influential accounts on X for certain premium features as long as they meet certain conditions. However, those conditions also appear achievable for accounts involved in cryptocurrency scams.

On March 28, Musk announced that accounts with 2,500 verified subscribers as followers will no longer need to pay for “Premium” features on X. Additionally, accounts with over 5,000 followers will get free access to “Premium+.”

X offers paid subscriptions for three tiers of premium services — Basic, Premium and Premium+ — incrementally unlocking more features for content creators within the X platforms.

Read more

]]>
<![CDATA[ Ethereum reaches 1M validators, community thinks it’s ‘too much’ ]]> https://cointelegraph.com/news/ethereum-1-million-validators-too-much Thu, 28 Mar 2024 08:19:35 +0000 https://cointelegraph.com/news/ethereum-1-million-validators-too-much

While more validators could mean more security, community members think too many could be problematic.

The Ethereum network recently hit the one million validator milestone, with 32 million Ether (ETH) currently staked, valued at approximately $114 billion based on current market prices.

On March 28, the Dune Analytics dashboard created by Hildobby to track Ethereum staking progress showed that the network achieved a validator count of one million, with the 32 million ETH staked accounting for 26% of the total supply.

The data also showed that around 30% of the ETH is staked using the Ethereum staking pool Lido, a liquid staking platform for proof-of-stake (PoS) cryptocurrencies.

Read more

]]>
<![CDATA[ Amazon takes minority share in ChatGPT rival Anthropic AI ]]> https://cointelegraph.com/news/amazon-minority-share-chat-gpt-rival-anthropic-ai Thu, 28 Mar 2024 07:41:35 +0000 https://cointelegraph.com/news/amazon-minority-share-chat-gpt-rival-anthropic-ai

Amazon has fulfilled its $4-billion investment commitment to AI startup Anthropic, announcing a minority ownership stake in the company and AWS as its cloud service provider.

Web services giant Amazon said it is fulfilling its $4-billion investment commitment to the artificial intelligence (AI) startup Anthropic. 

In a post on March 27, Amazon said it now holds a minority ownership position in the company after investing an additional $2.75 billion. Last September, Amazon announced its investment intentions and made an initial investment of $1.25 billion.

Anthropic was founded in 2021 by former members of OpenAI. It has created its own AI chatbot, rivaling ChatGPT, called Claude.

Read more

]]>
<![CDATA[ Bitcoin charts suggest the ‘dominance train’ is coming, traders say ]]> https://cointelegraph.com/news/bitcoin-dominance-may-head-upward-crypto-traders Thu, 28 Mar 2024 06:11:59 +0000 https://cointelegraph.com/news/bitcoin-dominance-may-head-upward-crypto-traders

The current Bitcoin dominance chart resembles that of the “2018-2019 bear market,” crypto trader “Beanie” wrote on X.

A clear ascending triangle is forming on the Bitcoin dominance chart, signaling a potential surge in Bitcoin’s (BTC) market share, according to several crypto traders. Some, however, argue it’s going to go the other way. 

“The BTC dominance train is about to leave the station,” crypto trader and Into The Cryptoverse founder Benjamin Cowen declared to his 810,700 followers in a March 27 X post.

An ascending triangle pattern on a chart develops when the price consolidates between an upward trendline support and a horizontal resistance trendline.

Read more

]]>
<![CDATA[ Vitalik Buterin is cooking up a new way to decentralize Ethereum staking ]]> https://cointelegraph.com/news/vitalik-buterin-floats-new-decentralized-ethereum-staking-rule Thu, 28 Mar 2024 06:09:07 +0000 https://cointelegraph.com/news/vitalik-buterin-floats-new-decentralized-ethereum-staking-rule

Ethereum co-founder Vitalik Buterin suggested penalizing validators proportionally to the deviation from their average failure rate.

Ethereum co-founder Vitalik Buterin has proposed a technique to incentivize better decentralization of Ethereum by penalizing correlated failures among validators. 

Buterin posted his thoughts on March 27 regarding supporting decentralized staking “through more anti-correlation incentives” to the Ethereum Research forum.

He suggested if multiple validators controlled by the same actor fail together, they would receive a higher penalty than if they failed independently.

Read more

]]>