Tag Archives: Blockchain News

Popular on the Ethereum blockchain, zk-proofs are also coming to the Bitcoin network. ZeroSync Association is bringing zk-proofs (Zero Knowledge) to Bitcoin (BTC) even as cryptographic techniques become popular on the Ethereum blockchain. Reports state that ZeroSync, a Swiss non-profit association, received sponsorship from crypto investment platforms Geometry Research and StarkWare Industries. The newly-formed association already has a working prototype, allowing users to validate the...

CZ recently rebuffed the CFTC complaint calling for a permanent US injunction against Binance and its executives. Binance CEO Changpeng ‘CZ’ Zhao has responded to the Commodity Futures Trading Commission (CFTC) complaint against the exchange. Responding to the federal agency’s call for a US injunction against Binance, CZ raised several issues alleged in the complaint. CZ also said that the CFTC filed the “unexpected and disappointing civil” complaint despite Binance’s prior cooperation...

As far as the EU is concerned, it is gradually advancing in its crackdowns on the crypto industry through functional regulation. The European Union (EU) is set to vote on a new set of Anti-Money Laundering (AML) laws that may impose some significant restrictions on transactions involving the crypto market. According to recent clarifications given by Damien Carême, a French lawmaker from the Green party, the new restrictions will be based on scenarios where the sender cannot be identified....

As per the proposed conditions, FTX founder Sam Bankman-Fried will get a new phone with no internet capability limited to voice calls and text messages. On Monday, March 27, lawyers of FTX’s disgraced founder Sam Bankman-Fried said that they have reached an agreement with US prosecutors over the new bail conditions. This development comes as the judge raised the prospect of sending SBF to jail pending trial. The newly proposed conditions have been submitted for approval to District Judge...

In a statement about reasons for the halt of NFT plans, Chair of the Treasury Select Committee Harriet Baldwin cited the uncertainty across the cryptocurrency sector. The UK Treasury Department has revealed it will no longer be going forward with its initial plans of launching a non-fungible token. According to an April 2022 proposal, which was put forward by then Chancellor of the Exchequer and current prime minister Rishi Sunak, the plans were part of a broader effort to make the UK a...

Since the time of the auction and the bidding process, US regulators have expressed a lack of confidence in the sale of the company to Binance. Judge Jennifer Rearden, a new Federal Judge for the US District Court in New York has temporarily halted the proposed sale of Voyager Digital to Binance.US. According to the judgment passed, the proposed $1 billion sale will now only be concluded once a decision has been made concerning the final details of the bankruptcy proceedings. The decision...

According to reports, the Polygon zkEVM Mainnet Beta offers lower gas fees and could see wider adoption of Ethereum scaling technology.  The Polygon zkEVM Mainnet Beta went live on Monday, March 27th, facilitating the deployment of smart contracts with increased finality and reduced costs. The release of the zero-knowledge Ethereum Virtual Machine beta to the public comes days after rival Matter Labs released its own zkEVM. One of the main attractions of the Polygon zkEVM Mainnet Beta is...

Binance’s regional presence is also defined by its active role in the development of the blockchain ecosystem in other countries like Kazakhstan and Ukraine. Binance, the world’s largest digital currency trading platform has announced the opening of its new regional blockchain hub in the Eastern European nation of Georgia. As announced by the crypto exchange, the regional hub is set to reposition Binance’s efforts in the region with respect to the facilitation of blockchain adoption...

The Kokomo Finance protocol has been found to be an elaborate exit scam after developers used wrapped Bitcoin to steal user funds worth $4M. According to reports, developers behind crypto lender Kokomo used Wrapped Bitcoin (wBTC) to perpetuate a $4 million exit scam. A CoinDesk report alleges developers pulled off the scam over the weekend after manipulating tokens to steal millions in user funds. The report further stated that these developers attacked the smart contract of wrapped...

Coinbase asked developers to work on an inflation-tracking stablecoin that can serve as a hedge to the poor monetary policy decisions of the central bank. Crypto exchange Coinbase has been working on some key projects and one of them includes inflation-pegged flatcoins to be built over its recently launched Layer-2 network Base. Coinbase sees flatcoins as one of the four critical innovations in the future of crypto. The other three projects include on-chain limit order book (LOB) exchange,...