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Do Kwon To Be Released From Prison But Remanded To Montenegro – Details

bitcoinist.com - сб, 03/23/2024 - 10:33

Terraform Labs co-founder Do Kwon is now set to be released from prison in Montenegro; however, the South Korean will remain restricted to the borders of the European nation pending a fixed date for his extradition to his home country. 

Do Kwon Serves Time In Montenegro, Awaits Extradition Decision

In March 2023, Do Kwon, alongside former Terraform CFO Han Chang-joon, was apprehended by local authorities in Montenegro for traveling with falsified documents. This development came as the crypto mogul was wanted by legal authorities in the US and South Korea for crimes of fraud following the crash of the prominent Terra ecosystem in 2022, which wiped out over $50 billion of users’ funds. 

Do Kwon was given a four-month sentence in Montenegro for using a fake passport which eventually commenced in November 2023. According to local media Vijesti, this prison time has been served with the South Korean citizen set to be released on March 23, 2024. 

However, an order from the High Court of Podgorica directing the seizure of Do Kwon’s valid travel documents will prevent the wanted crypto figure from leaving Montenegrin borders for the time being. This is quite unsurprising as Do Kwon is expected to be extradited to South Korea to face fraud allegations for his involvement in the Terra blockchain project.

The Asian nation had initially contested with the US for the custody of the former Terraform boss, with both parties filing extradition requests following Do Kwon’s arrest in Montenegro. After a series of court proceedings over the last few months, South Korea finally secured the custody of the Terra Luna founder on the basis of filing an extradition request earlier than the US. However, recent developments reveal the extradition process may be stalled for the time being.

Montenegro’s Apex Court Postpones Do Kwon’s Extradition Indefinitely 

In an unexpected turnout, the Supreme Court of Montenegro has ordered a halt to the extradition of Do Kwon to South Korea pending its decision on a petition from the national prosecutors’ office. 

On March 20, the Supreme State Prosecutor’s Office of Montenegro filed a request for protection of legality regarding the decision on the extradition request process by a lower court. The prosecutors argued there were procedural errors in the handling of the case by the appellate court. 

Specifically, the prosecutors believe that the appellate court acted beyond its authority by rejecting an appeal from Kwon’s legal team, asserting that only Montenegro’s Supreme Court has the jurisdiction to make such legal decisions. Therefore, the Council of the Supreme Court will evaluate whether there were indeed procedural violations and whether the lower court’s decision regarding Kwon’s extradition was legally sound, which will determine if the approved transfer will follow through.

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Стратегические новости - сб, 03/23/2024 - 09:00
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Solana Meme Coin Mania Breaks Records: DEX Volume Surges, Yet Failed Transactions Hit 72%

bitcoinist.com - сб, 03/23/2024 - 06:00

Solana (SOL) has experienced an exceptional uptrend, with a staggering year-to-date (YTD) surge of 652%. However, the recent surge in meme coins has further amplified the blockchain’s growth narrative. 

Solana-based tokens such as dogfight (WIF), Bonk Inu (BONK), and Boof of Meme (BOME) have witnessed remarkable growth rates of 574%, 3200%, and 49%, respectively, according to CoinGecko data

Nevertheless, this unprecedented meme coin mania has its fair share of ramifications, including increased transaction failures, rising transaction fees, and the dominance of bot-driven activities.

Meme Coin Ecosystem Faces Challenges

The surge in meme coin popularity is evident through the rise in decentralized exchange (DEX) and meme coin volume on Solana. On March 16th, major meme coins like BONK, WIF, TREMP, BODEN, and BOME recorded a cumulative volume of $1.33 billion.

This surge in trading activity highlights investors’ significant interest and participation in the Solana meme coin ecosystem.

However, the influx of bots seeking to exploit potential opportunities has resulted in a notable increase in failed transactions within the Solana network. 

On-chain researcher and analyst Tom Wan reveals that 72% of the failed transactions can be attributed to bot activities. Although this high failure rate has impacted the network’s efficiency, the effect on organic users has been relatively less severe than bots.

However, as the meme coin frenzy continues to grip Solana, the network has witnessed a substantial increase in average transaction fees. 

While average users can still execute transactions without paying priority fees, Tom Wan highlights that the median transaction fee has tripled from 0.000005 SOL to 0.000016 SOL. As a result, the average transaction fee has risen to $0.065, reflecting increased demand and congestion on the network.

Ultimately, the surge in meme coin trading activity on Solana has brought benefits and challenges. While the DEX and meme coin volume growth signifies the increasing adoption and interest in these tokens, it has also exposed vulnerabilities within the network. 

Solana Surpasses All Other Blockchain Ecosystems

The competition between Ethereum (ETH) and Solana continues to intensify, as the so-called “Ethereum Killer” appears to be the latest to dominate global investor interest, outpacing other blockchain ecosystems. 

According to recent research by CoinGecko, Solana’s growing popularity can be attributed to its recent rally, which has propelled it to reclaim its 2021 highs. 

This resurgence has captured the attention of investors worldwide, who are drawn to blockchain’s potential for innovation and growth. In addition, the success of notable projects within the Solana ecosystem, such as Pyth, has further boosted investor confidence and interest in the platform.

While Solana has emerged as the most popular blockchain ecosystem, Ethereum holds a significant position in the industry. CoinGecko’s data reveals that Ethereum captures 12.7% of investor interest, ranking it as the second most popular ecosystem 2024. 

According to the research, Ethereum’s continued relevance can be attributed to its well-established presence and familiarity among investors. However, attention within the Ethereum ecosystem is increasingly dispersed to layer 2 solutions built on top of the Ethereum network.

With a 5.4% share of investor interest year-to-date (YTD), the third most popular blockchain ecosystem is crypto exchange Binance’s BNB Smart Chain ecosystem. 

Currently, the price of SOL stands at $171.80, reflecting a continuation of its price correction over the past seven days, which amounts to a 5% decline. This correction has also persisted over the past 24 hours, with a further decrease of 6.6% in price.

Featured image from Shutterstock, chart from TradingView.com 

Is Your Crypto Safe? Trezor Addresses Concerns Over Hack, Claims “Sophisticated Phishing Scam”

bitcoinist.com - сб, 03/23/2024 - 04:00

On March 19, Trezor’s X suffered a security breach that exposed the account’s 200,000 followers to a fake crypto presale. After the alarms were raised, most crypto users stayed vigilant while the hardware wallet company regained control.

Trezor’s team recently published a preliminary report addressing the concerns. The post also explained the elaborate phishing scam that bypassed the company’s security measures.

Is Trezor’s “Unwavering Security” Still Protecting Your Crypto?

After gaining control of the account, the hacker posted a fake presale address for a $TRZR token. Disguised as an “initiative” to help the Slerf community, the post offered a “separate bonus airdrop” from a website linked in the post that redirected to a wallet drainer.

After Trezor regained control of the account, X users expressed their worries about the incident and suggested that the hack was a “bad look” on the security-focused company. However, the company guaranteed that they had “robust security measures.”

We want to clarify that we do not make use of SMS for 2FA, and instead employ more secure methods of authentication.

The company finally addressed users’ concerns in a preliminary report. The hack is possible due to a “sophisticated phishing scam” instead of a lack of basic security measures.

The company is based on “unwavering security,” the post states; as such, all products and internal systems remain unaffected despite the breach.

Sophisticated Phishing Scam Steals Pocket Change

According to Trezor, the ongoing investigation has revealed that “the breach appears to have arisen from a sophisticated and calculated phishing attack that was in the works for weeks.”

The calculated scheme began on February 29 after the attacker posed for a “credible entity” from the crypto industry. At the time of writing, the identity of the impersonated figure was not revealed.

The attacker contacted Trezor’s PR team through X using a “well-crafted social media presence.” The seemingly genuine contact aimed to schedule an interview with the company’s CEO.

According to the report, the attacker and the team had a back-and-forth conversation over several days, which made the efforts to stage a call seem more credible. However, the call agreement led to the click of the link that granted access to Trezor’s X account.

The malicious link was disguised as a Calendly invite that, upon clicking, redirected a Trezor’s team member to a page requesting the X login credentials. The team rescheduled the call as the incident raised red flags.

During the rescheduled call, the attacker pretended to have technical issues and urged Trezor’s team member “to ‘authorize’ joining the call.” This authorization connected the hacker’s Calendly app with the company’s X account. As a result, the attacker gained access to the account and published the now-deleted posts.

he got a whopping 0.96 Solana as well pic.twitter.com/zqHjxM8EOI

— xc (@Theft) March 19, 2024

The hacker only stole $8,100 from the malicious link redirecting to the wallet drainer.  Impressively, just 0.96 SOL (around $162,4 at writing time’s pricing) were sent to the fake presale address.

Undoubtedly, the attack was a calculated and elaborate scheme that aimed to become a big heist. However, the hacker’s attempt was halted by the crypto community surveillance and the suspicious nature of the unauthorized posts.

Spot Bitcoin ETF Issuer WisdomTree Receives Approval For Crypto App Launch In New York

bitcoinist.com - сб, 03/23/2024 - 03:00

In a significant development, spot Bitcoin exchange-traded fund (ETF) manager WisdomTree, has been granted a trust company charter by the New York State Department of Financial Services (NYDFS), marking another regulatory victory for the company following its ETF approval by the US Securities and Exchange Commission on January 10. 

This regulatory win allows the company to operate as a limited-purpose trust company under the New York Banking Law, clearing the path for the asset manager to launch its highly anticipated crypto app in New York.

WisdomTree Receives NYDFS Trust Company Charter

The NYDFS trust company charter authorizes WisdomTree to provide fiduciary custody services for digital assets, including digital wallet services. The firm is also authorized to issue and exchange DFS-approved stablecoins and manage stablecoin reserves

Jonathan Steinberg, the Founder and CEO of WisdomTree, expressed the significance of the NYDFS approval, stating:

The New York State Department of Financial Services is the premier regulator for businesses that engage in digital asset activity. This well-established trust company charter program – which long predates digital assets – is based on bank-grade regulation, allowing us to offer products that capitalize on innovation without sacrificing customer protection. 

Steinberg further emphasized that this approval not only positions the company to participate in New York’s “rapidly growing” digital asset marketplace but also equips the asset manager to lead the industry’s evolution in the future.

Tokenized Gold And Dollar Assets

According to the announcement, under the umbrella of WisdomTree Prime, the firm’s digital trust will initially offer products to customers. These include the Gold Token and the WisdomTree Dollar Token, which will be available within the Prime ecosystem. 

The company will also maintain reserves for these assets under the framework approved by the NYDFS. Furthermore, the trust company charter enables WisdomTree to provide New York retail customers with access to WisdomTree Prime, which is expected to be available in the coming weeks.

Will Peck, Head of Digital Assets at WisdomTree and CEO of WisdomTree Digital Trust Company, LLC, highlighted the compliance standards upheld by the company, stating: 

Held to the highest compliance standards in the industry, a New York limited-purpose trust company provides the leading platform to offer regulated tokenized products and services to WisdomTree’s retail and institutional customers. 

WisdomTree’s grant of the trust company charter by the NYDFS signifies a significant step forward in its mission to provide new and regulated financial services in the digital asset space. 

With the imminent launch of its crypto app, the digital asset manager aims to play a pivotal role at the intersection of traditional finance and blockchain technology, improving access to digital assets for retail and institutional clients.

Featured image from Shutterstock, chart from TradingView.com

Will Shiba Inu Outperform Dogecoin In 2024 As The Top Meme Coin?

bitcoinist.com - сб, 03/23/2024 - 02:00

As the crypto bull market rolls around once more, top meme coins Dogecoin and Shiba Inu have started vying for the position of best performer once again. The year 2024, despite only being three months in, has already been incredibly interesting in this regard as both meme coins rally to new yearly highs.

Dogecoin Vs. Shiba Inu Price Performance

Taking the year 2024 into account, it seems that Shiba Inu is finally winning the top meme coin battle against Dogecoin. A comparison of prices at the start of the year and now shows that Dogecoin has performed poorly compared to Shiba Inu.

To put this in perspective, the Shiba Inu price started out the year around $0.000009 and then surged more than 400% in March to $0.000044. The price has since retraced since this and returned to the $0.000027 level where it is currently trading now, still a more than 150% increase from where it started the year.

In comparison, the Dogecoin price started 2024 at around $0.08 and then rallied to $0.2 in March. This is less than a 300% increase in the same time period in comparison to SHIB. Then, just like SHIB, the DOGE price has retraced some of its gains and is now trading at $0.15, which is around a 100% increase from where it began the year.

However, when it comes to holding up during a downtrend, DOGE has proven to be the better performer. This is because while Shiba Inu has seen its price fall around 50% from its March highs, the DOGE price has only seen a 25% decline. This suggests that Shiba Inu is the much more volatile option, thus making it more likely to move up faster than Dogecoin. But it also means that the price of SHIB is more likely to crash rapidly compared to the more stable DOGE.

The Rivalry Between SHIB And DOGE

The rivalry between Shiba Inu and Dogecoin goes right back to the launch of SHIB in 2020. SHIB adopted the Shiba Inu dog which is the face of Dogecoin, and after the DOGE price rallied in 2021 due to billionaire Elon Musk’s influencer, SHIB’s position as the “Dogecoin killer” became more prominent.

This piggybacking of the already popular Shiba Inu dog breed made popular by DOGE, as well as a very clever marketing campaign of sending half the total supply to Ethereum founder Vitalik Buterin, who proceeded to burn the majority of it, propelled the SHIB price and brought it into the limelight.

Even now, this rivalry continues to wax stronger, with the Shiba Inu team threatening to dethrone Dogecoin as the leading meme coin. In an X post, the Shiba Inu team boasted that the end was close for Dogecoin. The post hinted at major updates coming for the SHIB ecosystem that will help to solidify its position as the leading meme coin.

Nevertheless, Dogecoin remains the leading meme coin for now with a market cap of $22.8 billion. This puts it ahead of Shiba Inu which is the second-largest meme coin with a market cap of $16 billion.

Big Money Eyes Dogecoin: Whale Activity Explodes 600%

bitcoinist.com - сб, 03/23/2024 - 00:30

On-chain data shows whale-related activity on the Dogecoin blockchain has registered a sharp 600% increase over the past month.

Dogecoin Whale Transactions Have Exploded In The Last Month

According to data from the market intelligence platform IntoTheBlock, DOGE whales have become quite active recently. The on-chain indicator of interest here is the Transaction Count of transfers on the Dogecoin blockchain with a value of at least $1 million.

Generally, only the whale entities are capable of moving such large amounts with single transactions, so these transactions are attributed to involving these humongous investors.

As such, the total number of transactions taking place on the network every day that are of a size falling in this range can provide us with hints about the behavior of the whales.

When the value of the Transaction Count of moves of this size is high, the whales actively participate in the network. Such a trend implies that interest around the memecoin may be high among these large traders.

On the other hand, low values of the indicator suggest not many large transactions are happening on the blockchain, a potential indication that the whales aren’t paying attention to the cryptocurrency.

Now, here is a chart that shows the trend in the Dogecoin Transaction Count for the whales over the past month:

As the above graph shows, this Dogecoin indicator has recently registered a sharp uptrend. “The number of DOGE transactions larger than $1 million increased by more than 600% in the last 30 days!” notes IntoTheBlock.

The analytics firm has also shared a zoomed-out view of the chart for the same metric, which puts into perspective the scale of the recent DOGE whale activity.

It would appear that the recent levels of the Transaction Count of the Dogecoin whales have been the highest that the network has witnessed since May 2021, when DOGE hit its top.

What does the high whale activity mean for the memecoin’s price? Generally, it’s hard to say anything about a price outcome based on the Transaction Count of these humongous entities alone, given that both selling and buying transfers count equally in the metric.

What the indicator’s trend can say, though, is whether the asset is likely to see more volatility in the near future. A large number of whale transactions means a significant shift of volume in the market, which can naturally produce some noticeable fluctuations in the price.

As Dogecoin has been going through high whale activity recently, it may see more volatile price action soon, should whales continue to remain active. However, the direction of this volatility can theoretically take the memecoin in either direction.

DOGE Price

When writing, Dogecoin is floating around the $0.15 mark, down more than 6% over the past week.

Shiba Inu To The Moon: Crypto Analyst Predicts 300% Surge For SHIB

bitcoinist.com - пт, 03/22/2024 - 23:00

Pseudonymous crypto analyst and trader Xanrox has predicted a significant price surge that could happen for Shiba Inu (SHIB) this year. The crypto trader also provided an opportunity for investors to profit from this move, as he stated an entry point for those interested in getting on the trade. 

Shiba Inu To See A 300% Gain Before Year-end

In a recent analysis, Xanrox expressed his bullishness on SHIB and stated that the “next profit target is 300% away.” He further asserted that the meme coin would “definitely go higher later this year” and that what was important was to catch the “bounce and ride the next wave to the upside.”

Looking at SHIB’s chart, the crypto analyst noted that the 0.618 Fibonacci retracement at 0.00002249 looks like a great level to invest in the crypto token. He added that an Elliot Wave technical analysis is also important for such big moves to get an idea of the full picture. That way, one can see the “full market structure and map of the uptrend.” 

Therefore, Xanrox suggested that investors wait for a bullish flag or pattern or simply set their limit order to buy SHIB lower. This bullish pattern seemed to form not long after as the crypto trader provided further updates in his analysis, noting that SHIB only had one resistance on the way, and that level was at its current all-time high (ATH) of $0.00008845. 

As part of his update, Xanrox also mentioned an entry point for those looking to benefit from this move to the upside. He directed investors to load up their coins at 0.0000212995, suggesting that the 300% move would start from there.

Shiba Inu Could Hit New ATH By July

From the accompanying chart Xanrox shared, he hinted at SHIB rising to as high as $0.00008854 by July. That would see the meme coin set a new ATH with its current ATH at $0.00008845. SHIB’s rise to that price level might just be the beginning of its run in this market cycle, as other analysts have predicted that the meme coin could delete another zero.

One of these analysts is Javon Marks, who predicts that SHIB hitting the $0.000081 price range could set the stage for a further rise to $0.0001553. In the meantime, SHIB investors will have their eyes on crypto analyst Ali Martinez’s prediction that the meme coin could rise to $0.000052. 

At the time of writing, SHIB is trading at $0.00002794, up over 3% in the last 24 hours according to data from CoinMarketCap.

Chainlink Flips Cardano To Become #1 Crypto In This Metric

bitcoinist.com - пт, 03/22/2024 - 21:30

Data shows that Chainlink (LINK) has surpassed Cardano (ADA) in becoming the king of cryptocurrency projects in this metric.

Chainlink Is Now Top Of The Sector In Development Activity

In a new post on X, the analytics firm Santiment has shared the latest ranking for various cryptocurrency projects based on the criterion of “development activity.”

This metric keeps track of the total work the developers of any given coin have been doing on the project’s public GitHub repository.

To measure this work, Santiment’s indicator uses the concept of “events.” An event refers to the developer’s action on the cryptocurrency’s repository.

These events aren’t the same as “commits,” which are records of changes made to the repo’s code. The analytics firm has chosen this methodology rather than simply measuring the number of GitHub commits themselves because the latter can sometimes prove to be inaccurate.

This is because when a project is forked (that is, a clone of it is created up to a certain point), the commits of the original project are inherited by the newer one. These commits, though, are not proof of the work done by the fork’s developers.

Events circumvent this issue by counting the forking as a whole as just a single event, with the events of the past project not carrying over, thus providing a truer picture of the developer’s work.

“Our platform pulls notable GitHub activity from project repositories via a back-tested process to ensure only the team’s significant efforts to innovate and improve are included,” notes Santiment.

Now, here is a table that shows how the top 10 projects are looking like right now based on their respective development activities over the past 30 days:

As is visible above, Chainlink has improved its standing and has surpassed Cardano to become the top asset in this metric. The gap between the two, though, isn’t that much currently, as LINK has seen over 451 events in the past 30 days, while ADA has observed almost 445.

Polkadot (DOT) and Kusama (KSM), who used to be at the top fighting with ADA for the first position, appear to have fallen off, as they are now sixth and seventh, respectively.

Ethereum (ETH), the second-largest cryptocurrency based on market cap, has also improved its development activity rank this month, though it’s still just the ninth-placed asset in this metric.

As for what Chainlink’s surge to the top of the development activity list might mean, the answer is that it usually doesn’t directly correlate to the price.

What it shows, however, is that the developers of the project are committed to it, which can be one of the signs to look for when estimating whether a project will be around in the long term or not.

LINK Price

When writing, Chainlink is trading around $18, down 7% over the past week.

Renowned Finance Author Reveals Why You Should Buy As Much Bitcoin As You Can

bitcoinist.com - пт, 03/22/2024 - 20:00

Robert Kiyosaki, the author renowned for his best-selling book “Rich Dad Poor Dad” has identified Bitcoin as a real-world asset, urging investors and the broader crypto community to shift their focus from stock investments and prioritize accumulating Bitcoin. 

Buy More Bitcoin Before It’s Too Late

In a recent X (formerly Twitter) post, Kiyosaki advised investors to focus on stacking up more Bitcoin now more than ever. Citing the dilemma China’s stock market currently faces, the finance expert has suggested that investors seize the opportunity to buy as much Bitcoin as they can afford before “the biggest bubble in history goes bust.”

Kiyosaki has claimed that China is in “trouble” because the government had borrowed funds to buy more stocks to potentially inflate the stock market artificially and stabilize the country’s economic challenges. The finance author criticized China’s decision, labeling it as a “Foolish” and “Desperate” attempt. 

According to the author, the problem’s root lies in a global decline in consumer spending. He advised against investing in stocks and bonds at this pivotal time, arguing that the stock market was set to crash and the current economic situation was not conducive for traditional investments.

Instead, he recommends investing in real assets such as gold, silver and Bitcoin, which are historically considered safe havens in times of economic uncertainty. 

Supporting the declaration to buy more BTC, popular crypto analyst and BTC enthusiast, Michael van de Poppe agreed to Kiyosaki’s advice, albeit with a time limit of two years. Poppe revealed that following the anticipated crypto bubble, typically debt collapses and liquidity flows back into the dollar and other fiat currencies.

This scenario often leads to a currency devaluation and a subsequent rise in the stock market. He suggests that investors capitalize on Bitcoin’s current bullish momentum by acquiring more of the cryptocurrency. However, he also underscored the value of diversifying investments into the stock market as Bitcoin’s bullish trends fade. 

Finance Guru Praises BTC’s Fixed Supply

In another X post, Kiyosaki lauded praises for Bitcoin, describing the cryptocurrency as a unique investment opportunity due to its fixed supply. As a popular Bitcoin advocate, Kiyosaki is renowned for his preference for investing in tangible assets such as gold, silver and BTC. 

According to the finance guru, there were certain drawbacks involved in investing in gold and silver, noting that as the prices of these assets grow, their supply also increases. However, the reverse was the case for Bitcoin, as the cryptocurrency has a predetermined maximum supply of 21 million coins. 

This scarcity is a key factor driving Kiyosaki’s appreciation for the world’s largest cryptocurrency, as it implies that no matter how high the price of Bitcoin goes, the total supply will remain limited.

Are Spot Bitcoin ETF Buyers “Noobs” And Panic Selling?

bitcoinist.com - пт, 03/22/2024 - 19:00

Billions have been channeled to spot Bitcoin exchange-traded funds (ETFs) after the United States Securities and Exchange Commission (SEC) gave the green light in mid-January. However, on-chain analysis indicates that some of these spot ETF investors might, after all, be less experienced than initially assumed.

Spot Bitcoin ETF Investors Acting Like “Noobs”?

Taking to X, Willy Woo, an on-chain analyst, shared the Bitcoin Network Flows data and picked out crucial leads to suggest that some spot Bitcoin ETFs are shaken out too quickly by the market. 

In a post, Woo pointed to a $1.6 billion outflow from spot Bitcoin ETFs when prices crashed on March 5. During this dip, the network had inflows worth $1.1 billion. This outflow from spot Bitcoin ETFs and a marked influx of cash to the mainnet could mean that some investors choose to redeem and get hold of the underlying coin, explaining the capital injection. 

Spot Bitcoin ETFs offer a simple and accessible route to Bitcoin investment. Unlike futures-based ETFs, which speculate on future prices, spot Bitcoin ETFs track the price of Bitcoin directly. This means investors can gain exposure to Bitcoin without the complexities of buying and holding the coins themselves.

All they need to do is purchase shares of spot Bitcoin ETFs from issuers like BlackRock. A specific amount of Bitcoin backs each purchase.

However, as on-chain data shows, by redeeming their shares when prices fell, investors choose to self-custody their coins instead of allowing the issuer, through its partners, to control their coin’s private keys. United States SEC filings show that most ETF issuers rely on Coinbase Custody as their primary custodian.

This regulated third party safeguards billions worth of Bitcoin backing each share of spot Bitcoin ETF in circulation.

Grayscale Outflows Increasing, BTC Facing Headwinds

The apparent shakeout and inflow directly into the mainnet as Woo shares appear to confirm previous studies. In a report, CoinDesk noted that a big chunk of early spot Bitcoin ETF demand was likely driven by retailers. 

Their investigation found that the average trade size for one ETF hovered around $13,000. This finding reinforces the “retail investor” narrative. Even so, the actual purchasers of spot Bitcoin ETFs will be confirmed when made public.

For now, there is no fresh capital going into spot Bitcoin ETFs. According to Lookonchain data on March 21, Grayscale and the other issuers reduced over $700 million from their holdings. CoinMarketCap data shows that BTC remains below $70,000 and is under pressure.

Urgent Alert For Apple Mac Users: Your Cryptos Could Be At Risk

bitcoinist.com - пт, 03/22/2024 - 18:00

A newly identified vulnerability in Apple’s M-series processors could have dire implications for crypto users, with the potential to compromise the private keys essential for securing digital assets. This flaw, which resides deep within the microarchitecture of these chips, was first reported by Ars Technica and detailed in a paper published by a collective of researchers from top US universities.

Mac Users Beware: This Is Crucial For Crypto Owners

The vulnerability stems from a side channel in the chip’s data memory-dependent prefetcher (DMP), a mechanism designed to enhance computing efficiency. However, this feature inadvertently allows for the extraction of secret keys during cryptographic operations, a process that is fundamental to the security of cryptocurrencies and other digital transactions.

“The DMP […] uses the data values in order to make predictions […] if a data value ‘looks like’ a pointer, it will be treated as an ‘address’ […] the data from this ‘address’ will be brought to the cache, leaking over cache side channels,” the researchers explained, underscoring the inadvertent risk posed by this hardware optimization.

Dubbed “GoFetch” by its discoverers, this attack method does not require administrative access, raising alarms about the ease with which bad actors could exploit this vulnerability.

According to the team, “We don’t care about the data value being prefetched, but the fact that the intermediate data looked like an address is visible via a cache channel and is sufficient to reveal the secret key over time.” This discovery is particularly concerning for cryptocurrency holders, as private keys are the linchpin of security for digital wallets and transactions.

The implications of GoFetch are vast, affecting not only traditional encryption protocols but also those designed to be resistant against quantum computing attacks. This puts a wide array of cryptographic keys at risk, including RSA and Diffie-Hellman, along with post-quantum algorithms like Kyber-512 and Dilithium-2.

The researchers reported that “The GoFetch app requires less than an hour to extract a 2048-bit RSA key and a little over two hours to extract a 2048-bit Diffie-Hellman key,” highlighting the efficiency and danger of this attack vector.

Mitigation of this vulnerability poses a significant challenge due to its hardware-based nature. While software-based defenses can be developed, they often come at the cost of degraded performance, particularly on devices with older M-series chips.

“For developers of cryptographic software running on M1 and M2 processors […] they will have to employ other defenses, almost all of which come with significant performance penalties,” the researchers noted, indicating a difficult road ahead for both developers and users.

Apple has yet to make a public statement regarding the GoFetch findings, leaving the tech community and crypto users eagerly awaiting a response. In the meantime, the researchers advise end users to look out for software updates that specifically address this vulnerability.

Given the manual and slow process required to assess an implementation’s vulnerability, the crypto community is faced with a period of uncertainty and heightened risk.

At press time, the Bitcoin price stood at $63,396, down 5.1% in the last 24 hours.

Конкурентные войны, или Привет из 90-х

Стратегические новости - пт, 03/22/2024 - 17:43
В гостях студии Точка сборки Андрей Игоревич Масалович, более известный как Кибердед. Подполковник КГБ в отставке, успешный бизнесмен, разработчик системы Avalanche Сегодня в программе:- Почему жёсткие...

Мировая социальная революция, или Призрак СССР 2.0

Стратегические новости - пт, 03/22/2024 - 17:30
О проблемах, задачах и перспективах левого движения в России и мире. Красная пятница в прямом эфире программы «АВРОРА НА ЛИНИИ с Фёдором Бирюковым» #РадиоАВРОРА – это открытая нецензурируемая дискуссионная...

Cardano Founder Charles Hoskinson Unveils Predictions For 2030

bitcoinist.com - пт, 03/22/2024 - 17:00

Founder of Cardano, Charles Hoskinson has boldly predicted a revolutionary advancement in the landscape of computational power. His forecast anticipates a remarkable leap forward in machine learning capabilities in the next few years.

Machine Learning Breakthrough Expected By 2030

In a recent X (formerly Twitter) post, Hoskinson declared that by the end of the decade, it would be possible to run machine learning models 1,000 times more powerful than Mixtral on a standard gaming Personal Computer (PC). The Cardano founder’s statement implies a substantial improvement in the capabilities of handling complex computational tasks in the realm of machine learning and Artificial Intelligence (AI).

According to the crypto founder, this technological innovation will only be possible with specialized hardware and optimization techniques. By leveraging these advanced technologies, the computational power of gaming PCs is potentially set to rise to unexpected levels, enabling them to effectively handle tasks previously reserved for high-performance systems. 

Hoskinson’s prediction ushers in a potential for improved accessibility to computational power, with its implications becoming far-reaching, as various industries would potentially benefit from its applications. The Cardano founder’s proclamation also comes at a time when technological innovation and advancement, particularly in the fields of AI and machine learning are growing rapidly. 

In the advent that his predictions come to fruition, the boundaries of computational power would effectively be breached, driving innovation on a global scale and unlocking potential benefits that could come from harnessing immense computational power on consumer-grade hardware. 

Cardano Founder Excludes ADA In Projections

While making his predictions for 2030, Hoskinson failed to provide any personal projections on the future outlook of Cardano’s native token, ADA. The crypto founder has recently been focusing on the transformative capabilities of Artificial Intelligence and machine learning models within the industry. 

At the time of writing the price of ADA is $0.64, marking a 10.05% decline over the past week, according to CoinMarketCap. While other cryptocurrencies like Ethereum (ETH) and Solana (SOL) have experienced bullish rallies, ADA has remained relatively subdued.

Although Hoskinson has not provided a price forecast for Cardano, other crypto analysts have stepped in to fill the gap. According to popular crypto analyst, Ali Martinez, the price of ADA is expected to reach $1.70 following a period of consolidation between the range of $0.55 to $0.80 in the upcoming weeks.

The crypto analyst has predicted that after the upswing to $1.70, Cardano could experience a significant breakout to $5. This surge would surpass the cryptocurrency’s previous all-time high of $3.10 in 2021.

Новые итоги недели, или Ответы в прямом эфире

Стратегические новости - пт, 03/22/2024 - 16:30
Главный редактор ИА «АВРОРА» Георгий Фёдоров и политический обозреватель Фёдор Бирюков подводят основные итоги недели и отвечают на вопросы подписчиков. Онлайн-митинг в прямом эфире Радио АВРОРА по пятницам...

Эффект бездействия ФРС США: криптовалюты начинают расти

bits.media/ - пт, 03/22/2024 - 15:51
Высокие кредитные процентные ставки порядком надоели инвесторам. На такой фоне новости о том, что американский центробанк хотя бы просто не повышает свою ключевую, уже воспринимаются позитивно. Именно это и случилось на неделе.

Триумф в королевстве кривых зеркал

Стратегические новости - пт, 03/22/2024 - 15:27
Историк и преподаватель Алексей Синелобов об итогах выборов и образе будущего страны Ведущая: Ульяна Максименко, продюсер Радио АВРОРА на Boosty: https://boosty.to/radio_aurora БЛАГОДАРИМ ВАС ЗА ПОДДЕРЖКУ!...

Bitcoin ETF Alert: Analyst Issues Major Warning – Brace For Impact

bitcoinist.com - пт, 03/22/2024 - 14:30

Samson Mow, a well-known Bitcoin advocate, has expressed his belief that the latest outflows will eventually reverse, cautioning the crypto community to “plan accordingly.”

Responding to concerns raised about potential decreases in Bitcoin’s price due to negative market sentiment, Mow emphasized the fundamental drivers of the leading cryptocurrency, highlighting its ultimate scarcity and unlimited demand.

Bitcoin Will Prevail, Mow Says

He dismissed market sentiment as a significant concern, suggesting that Bitcoin’s intrinsic qualities will prevail.

Amid these developments, spot-based Bitcoin exchange-traded funds (ETFs) have experienced significant outflows, sparking concerns within the cryptocurrency community.

Over the course of just three days this week, spot ETFs witnessed staggering outflows amounting to over $700 million. BlackRock’s IBIT, the largest Bitcoin ETF, has also experienced a notable decline in daily inflows.

All #Bitcoin ETF outflows will eventually become inflows. Plan accordingly.

— Samson Mow (@Excellion) March 21, 2024

Once the leader in the market, it has seen its daily inflow plummet to $49 million, marking the lowest amount recorded in the past weeks. This decline in inflows adds to the growing concerns surrounding the state of Bitcoin ETFs.

A key factor driving investors to exit Grayscale is the company’s higher fees when compared to its competitors in the ETF market. Lower fees offered by other providers have enticed investors away from Grayscale, leading to the substantial outflows witnessed recently.

Experts attribute these outflows largely to a massive withdrawal of BTC from Grayscale Bitcoin Trust (GBTC), which has been plagued by consistent outflows ever since the US Securities and Exchange Commission (SEC) allowed the conversion of GBTC into a spot ETF.

Factors Contributing To The Outflows

Moreover, the SEC’s approval of the launch of 10 spot Bitcoin ETFs on January 11 further contributed to the outflows. In addition to his comments on ETFs, Mow also shared his views on the potential approval of ETFs based on the Ethereum spot trading price.

He believes that Ethereum (ETH) should be classified as a security and expects the SEC to eventually deem it as such. He criticizes the SEC’s approval of ETH futures ETFs, considering it a significant mistake.

Mow’s warning regarding the potential reversal of outflows adds an element of uncertainty to the situation. As the cryptocurrency community grapples with these developments, industry experts will closely monitor the market to assess if Mow’s prediction of a reversal comes to fruition or if further challenges lie ahead.

While the future of Bitcoin ETFs remains uncertain, the resilience of the cryptocurrency market has been tested time and again. Investors and enthusiasts will closely keep an eye on the developments in the coming days, hoping for stability and renewed confidence in the digital asset space.

Featured image from Markus Spiske/Pexels, chart from TradingView

Ripple CEO Predicts Setback For US SEC In Ethereum Case, Similar To XRP

bitcoinist.com - пт, 03/22/2024 - 13:30

The legal battle between the United States Securities and Exchange Commission (SEC) and Ethereum (ETH) has transformed into an intriguing case within the entire cryptocurrency landscape, with several experts predicting possible outcomes regarding the dispute.

Ripple CEO Warns US SEC’s Inevitable Defeat Against Ethereum

As the battle wages on, the Chief Executive Officer (CEO) of Ripple Labs Brad Garlinghouse, has revealed his optimistic insights on the case, while sharing a daring prediction in favor of the Ethereum ecosystem. His positive insights came in light of reports that the SEC is attempting to classify Ethereum “as a security” through its legal dispute with the digital asset.

Brad Garlinghouse has predicted that the US regulatory watchdog is most likely to “lose its war against Ethereum” – the second largest cryptocurrency asset. According to Garlinghouse, the Commission’s several “attempts to include the cryptocurrency industry in legal battles have resulted in severe court losses” over time.

As a result, the agency is now “lagging behind its foreign counterparts” and “competing with other regulators” such as the United States Commodity Futures Trading Commission (CFTC).

The Ripple CEO then posed a question, “When would the SEC realize that it would not be able to continue fighting to categorize Ethereum as a security, as it did with XRP?”

It is noteworthy that Coinbase submitted self-certifications with the CFTC on March 7, which could pave the way for Bitcoin Cash (BCH), Dogecoin (DOGE), and Litecoin (LTC) futures Exchange-Traded Funds (ETFs), if the CTFC has no complaints against it.

Consequently, the SEC’s prospects of overturning the “Programmatic Sales of XRP” ruling might be impacted by the categorization of these aforementioned tokens as commodities by the CFTC. This could be one of the reasons why the SEC could be fighting the CFTC.

Ripple’s Partial Victories Against The SEC

Ripple first secured a partial win in its lawsuit with the agency when Judge Analisa Torres declared in July last year that programmatic sales of XRP do not meet the requirements of the third prong of the Howey Test. Also, three months later, the SEC’s request for an interlocutory appeal against the programmatic sales order was denied by the US Judge.

Due to the order, the SEC will be unable to file an appeal until the conclusion of the ongoing SEC v. Ripple lawsuit. It is believed that the resolution of this dispute may have a profound impact on the US regulatory landscape and the cryptocurrency landscape as a whole.

The long-running legal dispute between Ripple and the US SEC began in 2020 when the Commission accused Ripple of selling XRP to US investors as an unregistered security. However, the lengthy battle is slowly approaching its climax as the grand trial is scheduled to take place by April 23.

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