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Join Our Telegram channel to stay up to date on breaking news coverage The Shiba Inu cryptocurrency project’s pseudonymous leader, Shytoshi Kusama, has made it known that he intends to leave his position once important components of the ecosystem are fully functional. During a recent conversation on Telegram, Kusama mentioned that once Shibarium’s development is complete and multi-token governance is implemented, he intends to step down from his position.  According to Kusama, he would have finished his duties at that moment, and it would be up to the community to decide how to use the system and what to do next. Since the beginning of 2021, Kusama has played a crucial role in the Shiba Inu ecosystem while operating under a pseudonym. Shytoshi’s active participation on social media sites like Twitter and Medium has helped him build a sizable audience, with over 917,000 followers on his Twitter account. Over time, Kusama has faithfully carried out Ryoshi...

The SHIB-themed diner serves hot wings, burgers and cocktails, but despite the branding, still trades mostly in fiat. After a grand opening in March, Australian fast-food diner Shiba Wings has seen plenty of customers walking through the doors for their fried delectables.  Their appetite, however, hasn’t translated to crypto payments. The Shiba Inu (SHIB) themed diner first opened its doors in Australia’s beachside city Surfers Paradise on March 18, 2023. Speaking to Cointelegraph, the pseudonymous owner of the diner, “Elijah,” said their first week saw roughly $168 (250 Australian dollars) worth of crypto payments. In the months that followed total crypto payments dropped off, falling to an average of around $34 (50 Australian dollars) per week. Shiba Wings diner. Source: Paradise Centre. Most of these payments have been Shiba Inu, followed by Dogecoin (DOGE) and then Cardano (ADA). However, Elijah doesn’t believe this is a cause for concern, stressing that crypto payments themse...

Robinhood Markets, a well-known financial services company, seems to be in a phase of expansion. Today, the company announced its intention to acquire X1, a startup that specializes in offering fee-free credit cards. The acquisition will be carried out through a cash deal worth $95 million. In an announcement, the brokerage firm disclosed that Deepak Rao and Siddharth Batra, the co-founders of X1, will assume roles within the company to oversee the operations of the recently acquired business. X1, a San Francisco-based fintech company, specializes in offering innovative credit cards to its customer base. Notably, it has attracted investments from notable figures such as Max Levchin, the CEO of Affirm and co-founder of Paypal. In addition, the key distinguishing feature of X1 is its credit cards, which come without any annual fees, late fees, or foreign transaction fees. Robinhood CEO Vlad Tenev commented on the latest deal and said, “Together with X1, Robinhood will now be able to offe...

The researchers claim the ideas driving the conclusions found in the original paper were based on flawed assumptions about the nature of Bitcoin. A team of researchers from the Bitcoin Policy Institute, a nonprofit think tank, have roundly reject ed the conclusions reached in a 2022 paper claiming that Bitcoin has an intrinsic scaling problem that will lead to limit ed adoption in the future. According to the Bitcoin Policy Institute’s researchers, the original paper, dubbed “Bitcoin’s Limited Adoption Problem,” is predicated on three faulty assumptions. First, the authors of the original paper claim that payments on the Bitcoin (BTC) network require full network consensus for settlement. Second, they assert that the addition of miners to the network prolongs time to settlement by “delaying network consensus.” Third, they claim there’s an upper limit on Bitcoin payments due to the architecture of Bitcoin’s blockchain. The Bitcoin Policy Institute researchers reject each premise in ...

Drop the term “asset-agnostic privacy ” into dinner party conversation, and your guests will gaze at you in bewilderment. Even in crypto circles, where the phrase originates, it’s hardly something that everyday users know. But such is to be expected of nascent tech whose transformative potential has yet to be realized. So what exactly is asset-agnostic privacy , and what benefits does it bring block chain users? Houston, we have a bridge problem It’s no secret that blockchain bridges, how assets move between chains, are a weak point. Billions of dollars have been exfiltrated by hackers exploiting weaknesses in bridge architecture. But what’s less known is the other hazards that bridging presents, particularly regarding privacy. When moving tokens between chains, few working solutions preserve the details of the transaction to observers while maintaining its fidelity. You might also like: European Investment Bank uses blockchain for environmenta...

Join Our Telegram channel to stay up to date on breaking news coverage The recently launched derivative project “Not Okay Bears” of the Solana NFT derivative collection has been delisted by the digital Marketplace OpenSea. This move on the part of OpenSea was followed after numerous complaints received from “Okay Bears” collectors. Okay Bears is yet another derivative project of the Solana NFT, which was first minted on 26 th Apr 2022. It was launched at a price of 1.5 SOL ($75) on OpenSea. At the time of writing this, the price is 218 SOL (over $10000). The collection comprises 10000 different bear avatars in varying outfits. It rose to popularity within no time and surpassed major NFT projects in terms of the trading volume. Its combined sales volume reached $100 million on some leading NFT marketplaces including OpenSea and Magic Eden. Buy Ethereum on eToro for Buying NFTs Your capital is at risk. Why OpenSea delisted Not Okay Bears? Not Okay Be...

Join Our Telegram channel to stay up to date on breaking news coverage Binance and the cryptocurrency industry are taking a breath of relief as they witness the removal of the looming threat that had been hanging over them, at least for the time being. Over the past few weeks, the cryptocurrency community has been eagerly anticipating news about a momentous lawsuit brought forth by the US Securities and Exchange Commission (SEC) on June 5. This lawsuit targets Binance, the largest crypto exchange globally, and its co-founder and CEO, Changpeng Zhao. SEC Allegations Shake Binance – A Complex Web of Deception and Regulatory Evasion The SEC has leveled serious allegations against Binance and Zhao, claiming their involvement in a convoluted network of deception, conflicting interests, opacity, and intentional avoidance of legal obligations. The SEC alleges that Binance mishandled client funds and deceived regulators in an attempt to bypass US regulations, thereby jeopardizi...

Join Our Telegram channel to stay up to date on breaking news coverage China has been making concerted efforts to surpass the United States as the world’s leading economy in recent years. Nonetheless, strategists maintain that even if the Yuan does manage to usurp the dollar, its reign may be short-lived, given the dollar’s historical resilience and strength. By 2030, China is projected to have overtaken the United States as the largest economy in the world, according to the Centre for Economics and Business Research (CEBR), one of the top economics consultancies in the United Kingdom. Naturally, the world expects the US dollar to no longer be the currency leading the global reserve. For this reason, some countries have even begun to trade their dollars for other currencies they anticipate will retain or increase in value. The US Dollar – Rooted in History On the contrary, JPMorgan strategists said that even if China overtakes the U.S. economy, the USD is u...

The technology product manager of Lightning Labs, one of the development companies behind the Lightning Network, has pointed out a memory leak bug in the recent Lightning Network Daemon (LND) version 0.16.3, and is now urging operators not to upgrade or roll back to the previous version for those who have already upgrade d their software. Don't upgrade to LND 0.16.3, the memory leak bug is bad. If you did upgrade you can safely downgrade back to 0.16.2. — Nitesh ₿️ (@nitesh_btc) June 16, 2023 The memory leak bug in LND version 0.16.3 The memory leak flaw discovered in LND 0.16.3 could affect operators of nodes on the Bitcoin Lightning Network, a layer-2 scaling solution for the world’s most valuable blockchain, deployed by the Lightning Labs. You might also like: Binance CEO hints at Bitcoin Lightning Network integration  This bug causes memory leaks, which, over time, might result in an increased demand for available memory. This can lead to a gradua...

Join Our Telegram channel to stay up to date on breaking news coverage One of the contractors that provide the US with things like intelligence, defense, and civilian systems, BAE Systems, Inc, made the world aware that it was looking for workers. The type of employees they’re looking for, in particular, are so-called cryptocurrency exploiters. Looking For Crypto Expert For Non-Specific Client The company has recently listed an open position, one where they’re seeking a “cryptocurrency exploiter” for a job. They posted a public position on the popular employment platform, LinkedIn. The position is described as mandating to support one of the company’s mysterious clients’ operational requirements. By sheer coincidence, no doubt, this client requires the employee to be operable in the Washington Metropolitan Area. The job requirement explains that the applicant is mandated to demonstrate proficiency in cryptocurrencies as a whole, with verifiable, recognized credentials speciali...

A tight regulatory environment in the United States coupled with soaring interest rates is forcing crypto companies to rethink their business strategies. A combination of escalating interest rates and a tight regulatory environment in the United States has driven a $417 million outflow from the crypto industry in the past eight weeks, with halts in trading for many altcoins draining liquidity and prolonging the ongoing crypto winter. This environment is forcing crypto companies to rethink and adapt their business strategies. Crypto exchange Binance, for instance, is moving forward with efforts to diversify its sources of revenue amid legal challenges with regulators. The company is launching a new subscription-based cloud mining product dedicated to Bitcoin (BTC), allowing users without equipment to purchase Bitcoin hash rates via Binance’s cloud mining service. Also taking a new direction is venture capital firm Andreessen Horowitz (a16z), opening its first office outside the U.S. i...

The Texas State Securities Board has filed for an emergency cease and desist order against cryptocurrency lender Abra, alleging that it has been insolvent since at least March 31, that it has sold unregistered securities, and that it has misrepresented the extent of it and its partner organization’s licensure. Specifically, Texas regulators allege that the ‘Earn’ product, which involves Abra lending out c US tomer Crypto currency to earn yield, is a security. Abra has supposedly directed ‘investors’ in Texas to open accounts at Prime Trust and represented Prime Trust as a regulated company, despite Prime Trust lacking a money transmission license in Texas. Furthermore, Abra has allegedly misrepresented its exposure to FTX. It previously claimed that it had no exposure to FTX or Alameda Research but apparently had more than $12 million still on FTX . Abra also apparently has an extensive portfolio of bad loans including: Approximately $30 million to ...

Jack Dorsey, the Twitter co-founder, made a commitment to support bitcoin developers by pledging $5,000,000. The funds will be distributed over a span of five years, with an annual contribution of $1,000,000, as stated by Brink’s recent announcement on Twitter. More support for bitcoin Block CEO Jack Dorsey and his philanthropic organization Start Small have committed to a substantial $5 million donation to Brink, an organization established in 2020, dedicated to providing fellowship and grant programs aimed at bolstering the community of open-source bitcoin developers and engineers. In addition to notable crypto advocate Jack Dorsey, digital asset companies like Nexo have also contributed to Brink as part of their initiatives to support bitcoin developers. Brink took to Twitter on June 14 to announce that Dorsey and Start Small will contribute $1 million annually over the next five years as part of their ongoing efforts to fund developers.  Honored to receive a very...

The US Department of Justice (DOJ) has decided to move forward with the trial of Sam Bankman-Fried, the former CEO and founder of FTX. However, the trial will only involve the original eight charges filed in December 2022, which include wire fraud, securities fraud, and money laundering. This decision comes after a court in the Bahamas intervened and prevented the local government from agreeing to additional charges. Bankman-Fried is facing 13 charges, with five of them added through superseding indictments in February and March 2023. Bankman-Fried’s defense team argued that the Bahamas government must approve these additional specific bribery and campaign finance charges, as the former CEO was arrested in the Bahamas and subsequently extradited to the US last year. On June 13, a court in the Bahamas ruled against the government’s approval of the additional charges , granting Bankman-Fried’s defense team the opportunity to contest the decision. US Attorney Dami...