Tag Archives: AA News

As crypto mining firms rapidly expand infrastructure ahead of the 2024 Bitcoin halving, the industry is also branching out into another growing tech frenzy: artificial intelligence. A report from JP Morgan on Thursday explained how mining businesses are now repurposing their infrastructure to provide high-performance computing services. Miners Pivot to AI As led by Nikolaos Panigirtzoglou, the analysts wrote that miners are partly funding their shift to AI by selling BTC...

A crypto wallet connected to the October 2022 BNB Chain $600 million exploit has lost roughly $63 million on the decentralized lending platform Venus Protocol due to liquidation that resulted from the massive bloodbath in the market yesterday. According to a series of tweets by blockchain security firm PeckShield, the exploiter’s wallet was first liquidated of 1.1 million Venus BNB (vBNB) worth around $9.9 million with the asset’s price as $9.4. The second liquidation was...

Optimism network-based decentralized credit market Exactly Protocol became the target of exploitation on August 18th. The breach resulted in a significant drop in the platform’s total value locked (TVL). Meanwhile, Exactly’s recently-announced native token – EXA – slumped by more than 27% over the past day. The protocol was halted temporarily. Another DeFi Project Hacked Blockchain security firm PechShield was the first to alert Exactly Protocol of the attack and warned users...

Is Bitcoin or Ethereum a better protocol for developers? A closer look reveals the answer may not be so obvious. Tony Cai – CEO of Bitcoin-based DeFi platform Atomic Finance and former Ethereum builder – published a Twitter thread on Wednesday explaining the different experiences of building apps on both networks, including the strengths and weaknesses of each. Bitcoin’s Advantage: Security and Focus According to Cai, Bitcoin’s first advantage is the security of its...

California-based crypto custodian BitGo announced securing $100 million in a Series C funding round, bringing its valuation to $1.75 billion. The freshly injected funds will be deployed to make strategic acquisitions and expand its regulated custody, wallet, and infrastructure solutions globally. Both new and outside strategic investors have participated in the funding round. In a statement, BitGo CEO Mike Belshe highlighted the growing demand for regulated custody solutions...

Singapore authorities have arrested 10 foreign nationals suspected to be involved in money laundering and forgery, among other illicit activities, and have seized or frozen cash, assets, and crypto worth over S$1 billion. While eight other suspects are on the run, the case could be considered one of Singapore’s largest money laundering crackdowns. Singapore Seizes Over $1B in Cash, Properties, and Assets The Singapore Police Force (SPF), in a Facebook post on August 16,...

Stablecoin giant Tether announced on Thursday that it has discontinued USDT support for three blockchains, on which the token “lacks significant traction.” Those chains include Bitcoin’s Omni Layer, Bitcoin Cash’s Simple Ledger Protocol (SLP), and Kusama. No Signs Of Omni Adoption As explained on Tether’s website on Thursday, community interest is a “key factor” in deciding whether or not the company will bring USDT to a particular network. “If a blockchain lacks significant...

Blockchain analytics platform Santiment revealed that the increased short positions in the crypto market provide an opportunity for bullish investors to position themselves for an uptick in prices. In a recent tweet, Santiment said traders have doubled down on their short positions due to the market’s current downturn. Traders Bet Against Crypto Markets With many traders betting against the market, the likelihood of liquidation increases and, possibly, the prices of assets...

FTX’s sister trading firm, Alameda Research, will be allowed a general unsecured claim of $175 million against Genesis. The disgraced crypto exchange led by Sam Bankman-Fried previously sought to claw back $4 billion from DCG-owned lender Genesis which also filed for Chapter 11 bankruptcy. However, the latest court filing suggests that FTX and Genesis have reached an agreement, with the former having to settle for $3.825 billion less than originally demanded. The deal also...

Europe saw the launch of the first spot Bitcoin ETF on Tuesday, but it turned out to be a sell-the-news moment since the cryptocurrency’s price plummeted in the following days to multi-month lows. Interestingly, something similar happened back in 2021 after the launch of the futures Bitcoin ETFs in the States, leading to speculations on whether these products are actually benefiting the crypto industry. BTC Down After First European ETF Going under the ticker BCOIN, the...