BLOCKCHAIN
Blockchains incorporate several important features such as immutability, encryption and distributed storage, which combined makes secure peer-to-peer transactions possible and in turn has created the means to end human dependence on credit and thus credit intermediaries. Due to these features, blockchain has been referred to as ‘the Trust Machine’ and is forecasted to transfer the trust from agencies and institutions which are enforced by law to machine-based networks guaranteed by technology and mathematics.
Hackers Steal Cryptos from General Bytes Bitcoin ATM via Zero-day Bug
Crypto ATM manufacturer General Bytes has confirmed that its infrastructures have been hacked using a zero-day vulnerability in server ports to steal cryptocurrencies from customers.
Celsius Spent Over $40m on Crypto Mining in First Two Weeks after Bankruptcy
Celsius Network LLC used more than $40 million in cash on its startup mining operation in the first two weeks after filing for bankruptcy, according to a report from the Wall Street Journal.
Japan's Financial Giant SBI Group to Shut Down Crypto Mining Operations in Russia
Japanese financial giant SBI Group announced that it will shut down its crypto mining operations in the entire country of Russia.
Crypto.com Announces Suspension of Ethereum Transactions During POS Merge
The Cypto.com exchange stated that its services fully support the Ethereum merger, and announced that it will stop the deposit and withdrawal of ETH and all ERC20 tokens on the Ethereum mainnet during the week of the merger on September 15 next month.
Fed Rate Hike Unclear, Bitcoin Falls Below $21,000
The largest cryptocurrency, bitcoin, tumbled more than 9 percent to below $21,000, hitting a new low in late July. Bitcoin also posted its biggest one-day drop since June.
Fan Token Issuing Startup Socios.com Receives Italian Regulatory License
The sports-based fan token market has surpassed $440 million since football fans' blockchain app Socios.com announced it has received regulatory approval from the Italian government, up 97% from the previous month.
Opinion: What Is Driving the ‘Crypto Winter’?
Winter has hung over the crypto industry, with 2.25 trillion lost across the entire market in the past few months alone. What are the underlying reasons we find ourselves in this crypto winter?
Gemini Launches Crypto Staking Service in US, Singapore, Hong Kong
Gemini said users can start staking MATIC on the Polygon network. The exchange stated that plans to support Ethereum, Solana, Polkadot, and Audius will be launched next month.
Yuga Labs Hires Former Rally Executive Chris Fortier as VP of Products
Yuga Labs, the developer of the Bored Ape Yacht Club, has hired VP of Product at financial software firm Rally Chris Fortier as its VP of Product.
VC Shima Capital to Launch $200m Shima Capital Fund I for Web 3 Industry
Early-stage venture capital Shima Capital will launch Shima Capital Fund I, the first fund to support emerging digital assets for web3 and crypto startups.