Billionaire Elon Musk and Dogecoin (DOGE) co-founder Jackson Palmer are locked in battle on social media over Palmer’s claim that he could remove Twitter bots with a simple Python script. Australian Palmer said in an interview that his script was capable of automatically tweeting replies to scam tweets as a way of indicating that users
May was an incredibly challenging month for the cryptocurrency market as a majority of tokens booked heavy losses as a bear market was confirmed, but not every project dropped back to pre-bull market lows. Chain (XCN), a protocol designed to help organizations launch their own blockchain network or connect with other more established networks, managed
“The Market Report” with Cointelegraph is live right now. On this week’s show, Cointelegraph’s resident experts discuss how the United States Federal Reserve and its chair, Jerome Powell, influence the crypto market. But first, the Cointelegraph experts analyze the latest news in the market. Will Bitcoin’s uphill battle continue? And will LUNA 2 be able
Ethereum layer-2 scaling solution Optimism has been overwhelmed with “all-time high demand” following the launch of its highly anticipated airdrop on Wednesday. Users racing to collect their tokens were greeted with failed or delayed transactions as the Optimism team raced in the background to add additional capacity to the network. As previously reported in April, Optimism
The Terra ecosystem’s rise and fall has had major consequences all around the world, but there’s no doubt that South Korea, the birthplace of its’ creator, was the most concerned country of them all. Amid signs that Terraform Labs co-founder Do Kwon was facing legal trouble in South Korea, the country’s ruling party announced Tuesday
Europe’s top securities regulator has warned that soaring inflation could drive investors to cryptocurrencies. Stressing that there is “an imbalance” in how each EU country deals with crypto, the regulator calls for a common regulatory framework across European countries. Inflation Could Drive Investors to Crypto, EU Regulator Says The European Securities and Markets Authority (ESMA),
Bitcoin (BTC) price action has been surprisingly bullish since May 27. Weekends, especially holiday weekends, are notoriously volatile and indecisive, with major whipsaws in price movements being the norm. Even in bull markets, bearish price action is often the norm, but BTC bucked that trend. BTC/USD daily chart (Coinbase) Source: TradingView Bitcoin rallied nearly 11%
After creating the dubious record of nine successive red weekly closes, Bitcoin (BTC) is attempting to make amends by starting a price recovery to end the losing streak. Analysts have repeatedly said that investors should not fear a bear market because it is one of the best times to invest in fundamentally strong projects in preparation
In the precariousness of Web3 open-source code, iterative development and “move fast” ethos, things break. And through breaking, things are also made. A new project allows anyone to create a copy of someone else’s NFT, aptly named “Mimics.” But how does Mimics work, and what does it mean for the NFT art market to have
On Tuesday, cryptocurrency exchange Binance said it completed the first stage of airdropping new Terra Luna (LUNA) tokens to holders of Terra Luna Classic (LUNC), TerraUSD (USTC) and AnchorUST (aUST). The distribution was based on “pre-attack” and “post-attack” snapshots of token holders taken at LUNC block height 7,544,910 at 14:59:37 on May 7, 2022 UTC
The Basel Committee on Banking Supervision met Friday and discussed cryptocurrency, among other topics. The committee stated that it would soon publish its second consultative paper with the intention of finalizing guidelines on the prudential treatment of crypto exposure by banks by year-end. In a Tuesday press release, the committee issued the following statement, which
The persistent challenges decentralized finance face have been well documented by a handful of analysts and the recent collapse of the Terra ecosystem re-enforced the fact that something is critically wrong with DeFi. I think DeFi today is completely broken for 99% of the population. The promise of a more transparent financial system has been overtaken by
Quick take: Over 12 million Ethereum tokens have been pledged towards ETH 2.0 so far. Deposits from more than 73,000 addresses were recorded by Monday. The staking rate hit 10.72% over the weekend. More than 1/10 of ETH’s circulating supply is now locked up for The Merge. The switch from Proof-of-Work to Proof-of-Stake might happen
Panama’s path to crypto adoption is stepping up a gear. Towerbank, a Panamanian financial institution with over 200 employees and 40 years of banking experience, has declared itself Bitcoin friendly (BTC), paving the way for crypto accounts. In a series of tweets and leaks from a blockchain meetup in Panama’s capital, Panama City the bank
The Ropsten testnet on the Ethereum network is ready to set the stage for the “first dress rehearsal” of the Merge to adopt the Proof-of-Stake (PoS) consensus mechanism. Core Ethereum developer Tim Beiko announced on May 31 that a new Beacon Chain for Ropsten has been launched. It will serve as the precursor for the
The China state-owned media outlet the Economic Daily has signaled that the Chinese government may introduce even tighter regulations on cryptocurrencies and stablecoins due to the collapse of the Terra ecosystem. In an article published May 31, the outlet detailed the collapse of TerraUSD (UST) and Luna (LUNA) explaining the workings of the algorithmic stablecoin.