Blockchain network Avail has launched a testnet data availability bridge to Ethereum, according to a July 7 announcement. Once testing is completed, the bridge will allow developers to easily create “validiums” or low-cost layer 2s that do not store full transaction data on Ethereum, the announcement stated. Avail was originally created by Polygon Labs, but
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Bitcoin (BTC) will be the currency of artificial intelligence (AI) and could reach a price per coin of $760,000 in the process, Arthur Hayes says. In his latest essay titled “Massa,” the former BitMEX CEO concluded that the AI revolution would naturally gravitate toward BTC. Hayes: Bitcoin is “logical currency choice for AI” Despite fiat
Cryptocurrency exchange Crypto.com has petitioned a Florida court to confirm a judgment in its favor through arbitration after the platform mistakenly deposited $50,000 into a user’s account. According to the July 6 court filing, Crypto.com “erroneously deposited” $50,000 into James Deutero McJunkins’ account in June 2022, despite the user seemingly not earning the funds through
Layer-2 blockchain Public Goods Network launched a testnet on July 7, promising to spend “the vast majority of net sequencer fees” on public goods instead of paying them out to the development team or token holders, according to an announcement from the network’s developers. In economics, a “public good” is a good that cannot be
On today’s Macro Markets show, veteran stock market and Cointelegraph analyst Marcel Pechman starts by analyzing Argentina’s 150% inflation, which proves that people continue to work and consume (somehow) even if their local currency loses its value. What is the lesson here? For starters, everyone wants free money. That explains why altcoins and airdrops continue
Bitcoin (BTC) price gave back some of its recent gains this week, but multiple data points suggest that $30,000 should hold as support going forward. Bitcoin remained within a narrow 4.3% range for the 15 days leading up to July 7. Despite the proximity of the $29,895 to $31,165 range, investors’ sentiment was significantly impacted
Lawyers representing Elon Musk and Tesla asked a United States district court judge to toss out a motion to have them sanctioned over alleged conflicts of interest in a $258 billion lawsuit alleging Musk participated in an illegal racketeering scheme related to the Dogecoin cryptocurrency. In a filing dated July 6, Musk and Tesla’s team
In a recent report by Bank of America titled “Breaking New Ground: Harnessing Payments Innovation in APAC,” the role of Ripple Labs in the payments space in the Asia-Pacific (APAC) region has been acknowledged by the Bank of America. The report highlights the significance of blockchain technology in digitizing trade documentation and the potential of
A possible approval of a spot Bitcoin exchange-traded fund (ETF) won’t be a game changer for crypto markets, although it might benefit the leading cryptocurrency, according to a report by JPMorgan managing director Nikolaos Panigirtzoglou. Based in London, Panigirtzoglou is part of JPMorgan’s global market strategy team. He believes that a Bitcoin ETF in the
Ether has been on a downward trend, with the $2,000 level forming a crucial resistance level in recent months. While Bitcoin (BTC) recorded 11.94% gains, moving past $30,000 in June after BlackRock filed an application for an exchange-traded fund with the Securities and Exchange Commission in the United States, the upside in Ether (ETH) stayed around 3.16%. In
Bitcoin is still struggling to stay above $31,000. While a tight consolidation near the overhead resistance is a positive sign, the failure to rise above it may result in short-term liquidations. However, a shallow pullback should not be considered a trend change because, many times, the bulls take a step back to regroup and launch another
Coin Stories host Natalie Brunell — who has 302,600 followers on Twitter — recalls feeling very tense before meeting with Salvadoran President and Bitcoin maximalist Nayib Bukele in March 2022. “It was very formal, there were guards outside his office. What is funny is it felt very formal outside of his actual office. Then you
The Association for Financial Markets in Europe (ASME), an industry advocacy group that represents wholesale market participants in Europe, called for the inclusion of the decentralized finance (DeFi) sector within the recently passed markets in crypto assets (MiCA) regulations. MiCA is considered the first potential comprehensive crypto legislation that is set to come into effect
BarnBridge DAO members have been told to pause “all work” related to the project after a reported probe by the United States Securities and Exchange Commission (SEC). In a July 6 post to the platform’s Discord channel, Douglas Park, a lawyer for the decentralized autonomous organization revealed the news to members. “I am letting you
The news surrounding BlackRock’s application for a spot Bitcoin (BTC) exchange-traded fund (EFT) sent the asset’s price from its local lows in mid-June to a strong monthly close of +12%. To most observers, this was a sign that institutional investment into the cryptosphere is once again on the horizon. A future approval of a spot
The creation of nonfungible token inscriptions on the Bitcoin (BTC) blockchain has led to over $210 million of trading volume for Bitcoin Ordinals, according to the latest quarterly report from DappRadar. The data, which has been independently verified by Cointelegraph, shows that Bitcoin Ordinals’ booming popularity led to a sharp increase in trading volume through the
The United States Federal Bureau of Investigations (FBI) reportedly searched the home of Kraken co-founder Jesse Powell in March as part of an investigation into claims he hacked and cyber-stalked a nonprofit arts group. It is claimed that Powell interfered with computer accounts by blocking access to emails and other messages from contributors of Verge
Abnormally large outflows from the Multichain MPC bridge platform on July 6 have sparked fears that an exploit could be underway. Over $102 million worth of crypto has been withdrawn from Multichain’s Fantom bridge on the Ethereum side, as well as $666,000 from Dogechain and $5 million from Moonriver. Multichain likely hacked. Exit all multichain
A recent report released by the United Kingdom Law Commission could weaken a central argument brought by Craig Wright in his controversial lawsuit against 12 Bitcoin core developers, argues the Bitcoin Legal Defense Fund (BLDF). In a 300-page report on digital assets published in late June, the UK Law Commission — an independent body that reviews and
Bitcoin mining companies outperformed BTC price by a huge margin amid the recent bullish price action in the top cryptocurrency. The average year-to-date gains in 2023 across the stocks of top nine public Bitcoin mining firms by market capitalization stood at 257.14%. The figure is almost three times higher than BTC’s gain in the same