Crypto news

A scalability solution unique to Ethereum is now compatible with Bitcoin. Rollkit allows for the storage of rollup information developed for Ethereum but on the Bitcoin network. According to an official statement, Rollkit — a modular framework for rollups — was successfully launched on march 5, 2023. The solution could, at least in theory, help optimize the use of free space on the Bitcoin blocks, expanding the capabilities of the network: Sovereign rollups on Bitcoin not...

The highly controversial “Open Exchange” (OPNX) headed by once-failed Crypto CEOs has reached its fundraising goal of $25 million – though the founders are yet to reveal their benefactors. Meanwhile, collapsed crypto exchange CoinFLEX has revealed that its restructuring deal has been approved by a Seychelles court, briefly pumping the price of its token.  OPNX’s Plans for Launch According to a Twitter thread from DefiIgnas (that was later retweeted by co-founder Zhu Su), Kyle...

Polkadot’s leading parachain and innovative hub, Astar Network, has partnered with Tokyo’s special ward Shibuya to support the city’s Web3 initiative. According to a press release sent to CryptoPotato, the partnership will see Astar and Shibuya team up to foster the development of Tokyo’s Web3 strategy. Astar Network Partners Shibuya City As per the release, the alliance is the first between a Japanese blockchain firm and one of Tokyo’s biggest and most densely populated...

Increasing electricity costs and a decline in digital asset prices coupled with high mining difficulty in the fourth quarter slashed mining profit margins and made it difficult for miners to stay afloat. Chinese crypto mining rig maker – Canaan – reported a mining revenue of $10.5 million in the fourth quarter, representing an increase of 16.3% from the previous quarter. It was also up by a staggering 368.2% compared to the same period in 2021. But the bigger picture tells a...

Eric Peters – CEO of One River Digital Asset Management – thinks the next crypto bull run will be “very powerful” because it will be driven by institutional adoption. He argued the market might have already moved to such a phase. ‘Extremely Bullish’ for the Long Term In a recent appearance on the Bankless podcast, Peters opined that the crypto winter is already in the past, describing last year’s decline to the Wall Street collapse of 1929 (also known as the Great Crash): “I...

Grayscale and the Securities and Exchange Commission (SEC) have presented their first oral arguments in court regarding the approval/ denial of a Bitcoin a spot ETF product in the United States.  During the hearing, judges pressed the SEC on its justification for simultaneously approving multiple Bitcoin Futures ETFs, while denying an equivalent spot ETF. Spot VS Futures: Which Leads Which? Before the United States Court of Appeals for the DC Circuit, the SEC maintained the...

A new study by digital asset data provider Kaiko has found that Silvergate’s decision to shut down its instant payments network will likely boost stablecoin adoption among investors in crypto trading. Last week, Silvergate Capital announced the closure of its payments network, SEN, which crypto exchanges and investors used to move large amounts of U.S. dollars. The decision came after the crypto-friendly bank revealed in a regulatory filing that it could soon be “less than...

[PRESS RELEASE – Please Read Disclaimer] Since MEXC Global announced it was slashing maker and taker fees on the platform, the exchange has seen renewed growth, mirroring the positive turnaround seen in the wider cryptocurrency market. The fees to trade spot and futures markets on MEXC Global have both dropped to zero for maker fees, and 0.02% for futures taker fees, representing some of the lowest and most competitive rates worldwide for crypto investors. “This is great...

Lynk, the SocialFi platform building a decentralised online community to accelerate the development of the Web3 economy, has achieved a resounding success with its latest NFT collection, Finder. The collection, consisting of 200 unique Finder NFTs, was sold out in less than a day, a testament to the dedication and support of Lynk’s growing community of supporters and fans. The Finder NFT collection is a breath of fresh air in the rapidly growing NFT market, offering a...

The hacker of the DeFi project – Uranium Finance – started moving 2,250 ETH, worth approximately $3.35 million, in stolen funds into the popular coin mixer, TornadoCash. The movement of funds from the wallet was detected by the blockchain security firm, PeckShield, on March 7th. Data from Etherscan reveals that the hacker transferred the funds over a time frame of seven hours in transactions ranging from 1 ETH to 100 ETH. In addition to this, another Ethereum wallet tied to...