Tag Archives: AA News

Aditya Baradwaj, a former engineer at the bankrupt cryptocurrency trading firm Alameda Research, has revealed that the company was behind bitcoin’s 87% plunge in 2021. Baradwaj explained the events that led to the sudden drop, saying the incident was a result of a work philosophy established by Alameda’s co-founder Sam Bankman-Fried (SBF), which maintained that the utility gained by moving fast outweighed the occasional costs paid due to a poor risk management system. Alameda...

The Bitcoin network is currently dealing with an increase in transaction congestion, with data from the Mempool indicating a backlog of over 470,000 pending transactions. Somewhat expectedly, this has resulted in the transaction fees on the Bitcoin Network fluctuating quite severely. Bitcoin Transaction Fees Fluctuate Mempool data reveals that the Bitcoin Network is experiencing the longest block fullness with over 470,000 pending transactions. Recent data also reveals that...

On Sept. 19, Eclipse announced a new L2 architecture, which will leverage the Solana Virtual Machine while operating on Ethereum, hence bringing the advantage of the former’s speed and scale in transaction settlement. The newly promoted L2 architecture aims to redefine the scaling world by touching on areas like Ethereum settlement, execution using SVM, availing data with Celestia, and proving using RISC Zero. Bringing SVM Experience to EVM As per the press statement,...

After announcing its new payment stablecoin last month, PayPal revealed on Wednesday that Paypal USD (PYUSD) is now available to Venmo users for transacting with peers. Initially available to “select users,” access will expand to all Venmo users in the coming weeks, according to the company’s announcement. Venmo, a mobile payments app owned by PayPal, will allow users to buy and send PYUSD to other Venmo users and PayPal wallets. PayPal touts free stablecoin transfers between...

Incoming reports indicate that Sam Bankman-Fried’s legal team is readying their arguments for a pretrial release hearing before the U.S. appeals court on Tuesday as the billionaire founder of the defunct exchange FTX prepares for his trial on Oct. 3. Bankman-Fried’s initial plea was overruled last month as the prosecutors argued that the defendant had been tarnishing the credibility of a state witness, Caroline Ellison, a former executive at Alameda Research. Bankman-Fried’s...

Circle, a stablecoin issuer, has introduced the USDC stablecoin into the Polkadot ecosystem of parachains. This move signifies a significant extension of the accessibility of this dollar-backed stablecoin across different blockchain networks. As detailed on Circle’s official website, developers and users can now readily access Polkadot USDC. That means the stablecoin can be seamlessly transmitted to parachains within Polkadot by leveraging the XCM protocol through Circle...

Rich Dad, Poor Dad’s Robert Kiyosaki has once again voiced his support for bitcoin (BTC), gold and silver. This time, the author noted that he considers questions he has received about the future prices of BTC, gold, and silver to be silly and that the most important one should be how much of the assets investors own today. Kiyosaki Calls to Buy BTC Again In a recent X post, the American businessman said BTC, gold, and silver are “bargains” today and might not be tomorrow, so...

The Federal Reserve announced no change to its policy interest rate following its Federal Open Markets Committee (FOMC) meeting on Wednesday. Likewise, Bitcoin’s price showed little change after the announcement, down just 0.17% on the day. Per the Fed’s announcement, the central bank “decided to maintain the target range for the federal funds rate at 5-1/4 to 5-1/2 percent.” The statement noted that while job gains have slowed, they remain elevated. Unemployment is also...

David Hirsch, the head of the SEC’s Crypto Assets And Cyber Unit, recently promised further enforcement actions against crypto platforms deemed to be non-compliant with the agency’s demands. The announcement was made at the SEC’s yearly Securities Enforcement Forum Central event, which took place at the Four Seasons hotel in Chicago this year and was streamed online for those who could not attend. DeFi Is Not A Workaround, Says Hirsch During the event, which hosted speakers...

The move appears to be a part of a wider push to offer digital assets to institutional clients. The tokens represent a claim against the bank and are processed on a private blockchain owned and managed by Citigroup. Clients can access the service through existing bank systems, according to reports on Sept. 18. Global head of the Citi’s services division, Shahmir Khaliq, said: “The development of Citi Token Services is part of our journey to deliver real-time, always-on, next...