Crypto
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OpenEthereum support ends with the Merge fast approaching
One of the most popular Ethereum (ETH) clients, OpenEthereum has ended support for its software in preparation for the upcoming Ethereum Merge. OpenEthereum creates “clients” or software used to interact with the Ethereum network allowing anyone to create an Ethereum node to mine the cryptocurrency which is currently using a proof-of-work (PoW) consensus mechanism. In a Twitter thread the OpenEthereum team explained that with the Merge approaching and the legacy codebase becoming “increasingly difficult to manage” due to its age that it was the right time to end support. OpenEthereum support has officially ended. The repo is now archived, and all maintenance and updates have stopped. Why? And what next? Read the — OpenEthereum is Deprecated (@OpenEthereumOrg) May 24, 2022 The project was f...
Blockstream dreams up a whole new type of multisig called ROAST
The research unit of Bitcoin (BTC)-focused blockchain tech firm Blockstream has published a proposal for a new type of multisig standard called Robust Asynchronous Schnorr Threshold Signatures (ROAST). It hopes to avoid the problem of transaction failures due to absent or even malicious signers and can work at scale. The term multisig or multisignature, refers to a method of transaction in which two or more signatures are required to sign off before it can be executed. The standard is widely adopted in crypto. According to a May 25 blog post from Blockstream research, the basic idea of ROAST is to make transactions between the Bitcoin network and Blockstream’s sidechain Liquid more efficient, automated, secure and private. In particular, ROAST has been posited as a signature standard that ...
Google seeks fresh talent to lead global Web3 team
Following the establishment of a Web3 team under Google Cloud on May 6, tech giant Alphabet’s Google is now on the lookout for a full-time candidate to lead its Global Web3 marketing strategies. As seen on the job listing, the Google Cloud division opened up a ‘Head of Product Marketing’ role who will be tasked with raising awareness about Google Cloud’s Web3 initiatives in addition to eventually building customer demand for the related offerings. new: Google Cloud is forming a Web3 product and engineering organization that will build services for developers. new job postings have appeared on Google’s internal Grow tool, Amit Zavery is telling employees in an email today https://t.co/sLC8VlqgBf — Jordan Novet (@jordannovet) May 6, 2022 In an email shared with employees right before t...
Weak stocks and declining DeFi use continue to weigh on Ethereum price
Ether’s (ETH) 12-hour closing price has been respecting a tight $1,910 to $2,150 range for twelve days, but oddly enough, these 13% oscillations have been enough to liquidate an aggregate of $495 million in futures contracts since May 13, according to data from Coinglass. Ether/USD 12-hour price at Kraken. Source: TradingView The worsening market conditions were also reflected in digital asset investment products. According to the latest edition of CoinShare’s weekly Digital Asset Fund Flows report, crypto funds and investment products saw a $141 million outflow during the week ending on May 20. In this instance, Bitcoin (BTC) was the investors’ focus after experiencing a $154 weekly net redemption. Russian regulation and crumbling U.S. tech stocks escalate the situation Regula...
ECB: One in ten households in eurozone population centers now own cryptocurrency
On Tuesday, the European Central Bank, or ECB, published the results of a new survey conducted in six eurozone areas; the Netherlands, Spain, Italy, Belgium, France, and Germany. Together, approximately 10% of respondents from the surveyed countries said they own cryptocurrencies. Out of this group, only 6% of respondents said they own digital assets worth more than 30,000 euros. Meanwhile, 37% of respondents said they owned up to 999 euros in crypto. Across all of the countries surveyed, investors in the fifth income quintile (or the wealthiest 20% of the population) consistently had the highest proportion of cryptocurrency ownership relative to other income groups. The Consumer Expectation Survey asked adults aged 18 to 70 if they or anyone in their household owned financial assets in va...
Low inflation or bust: Analysts say the Fed has no choice but to continue raising rates
As economic conditions continue to worsen, financial experts worldwide are increasingly placing the blame at the feet of the United States Federal Reserve after the central bank was slow to respond to rising inflation early on. Financial markets are currently experiencing their worst stretch of losses in recent history, and it doesn’t appear that there is any relief in sight. May 24 saw the tech-heavy Nasdaq fall another 2%, while Snap, a popular social media company, shed 43.1% of its market cap in trading on May 23. This past couple of months have been absolutely brutal for the markets… 8 consecutive weeks of red candles in the #SPX, #NASDAQ and #BTC… no significant bounces pic.twitter.com/hgU2VwIoxh — Crypto Phoenix (@CryptoPheonix1) May 24, 2022 Much of the recent turmoil again c...
Sam Bankman-Fried could spend up to $1B in 2024 to thwart Trump comeback
The billionaire founder and CEO of theFTX cryptocurrency exchange Sam Bankman-Fried has revealed he intends to spend anywhere between $100 million and $1 billion to help influence the 2024 United States presidential election campaigns. In a podcast interview on May 24 Bankman-Fried was asked how much money he might donate during the next presidential election cycle, answering he’d give “north of $100 million” with a “soft ceiling” of $1 billion if he were to bankroll the person running against former president Donald Trump. “I would hate to say hard ceiling because who knows what’s going to happen between now and then.” According to the government watchdog OpenSecrets, which tracks data on campaign finance and lobbying, a $1 billion donation would break existing records multiple times over...
New NFT Marketplace ‘Golom’ Loaded With Analytical Tools Announces Genesis Period
Dubai, UAE, 24th May, 2022, Chainwire Recently launched NFT trading platform Golom has announced its genesis period from 25th May until 25th of June 2022 followed by an Airdrop. Created by a group of NFT traders and developers, the new platform is set to offer a flat trading fee of 0.5% on the transactions.100% of the trading fee goes to the stakers with a curve-like staking mechanism. It also allows users to decide what royalty they want to pay. For example, they can pay more royalties if they like the progress of the project. https://twitter.com/golom_io/status/1527323066938040320 Decentralized at the core According to Golom’s Twitter announcement, Golom offers a permission-less base protocol to the Ethereum ecosystem that promotes decentralisation. The order books are made publicly avai...
ECB President declaring crypto as “worth nothing” is missing the point
It’s disappointing to see the President of the ECB, Christine Lagarde, declare that cryptocurrencies are “worth nothing” on Dutch television this past Sunday. I thought we were past that point. Sure, a big bulk of the market is likely worth nothing, but to have the head of the central bank publicly declare all cryptocurrencies as worthless in one swift sentence comes across as increasingly out-of-touch. “My very humble assessment is that (cryptocurrency) is worth nothing. It is based on nothing, there is no underlying assets to act as an anchor of safety”, she said. While she may be right that there are no underlying assets to a lot of these currencies, she’s missing the point. Network effects alone can render an asset worth something, even if there is nothing physical of value underneath....
Bitcoin price may bottom at $15.5K if it retests this lifetime historical support level
Bitcoin (BTC) could be in for a return to levels not seen since before its 2020 bull market if history repeats itself. That was according to new analysis released on May 24, which studied Bitcoin’s interaction with its 200-week moving average (WMA). Bitcoin floor target could be between $15,500 and $19,000 In a Twitter thread, popular trader and analyst Rekt Capital explained how BTC/USD could behave should it fall to retest the 200WMA. A lifeline throughout Bitcoin’s history, the 200WMA is a constantly rising line of last support that has never been definitively broken. Currently sitting at around $22,000, data from Cointelegraph Markets Pro and TradingView shows that the level continues to act as a line in the sand when it comes to bear markets. In times past, Rekt Capi...
Enforcement and adoption: What do UK’s recent regulatory aims for crypto mean?
In April, the United Kingdom’s Economic and Finance Ministry, also known as Her Majesty’s Treasury, announced its intention to put the United Kingdom at the forefront of technology by bringing stablecoins under the country’s payments regulation — a bold move that looks especially intriguing in contrast to the recent shock, caused by TerraUSD’s (UST) depegging. Later, in May, during the annual Queen’s Speech, Prince Charles informed the Parliament about two bills that will support “the safe adoption of cryptocurrencies” and “create powers to more quickly and easily seize and recover crypto assets.” Taken together, these initiatives give an impression of the nation’s growing interest in digital assets, which comes as no surprise, given the inevitable competition for innovation with the Europ...
Bitcoin price returns to weekly lows under $29K as Nasdaq leads fresh US stocks dive
Bitcoin (BTC) fell on the May 24 Wall Street open as weakness in stocks saw sell-side pressure return. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Equities give crypto no respite Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it revisited its lowest levels of the past seven days. At the time of writing, BTC/USD traded at around $28,800 amid volatility, having hit $28,614 on Bitstamp — a zone last seen on May 18. The S&P 500 lost 2.4% on the open, while the Nasdaq 100 managed a 3.5% decline. Stocks once again controlling the price of #Bitcoin. What’s surprising is how well it’s holding up relatively though. Most stocks having way larger daily drops than $BTC. — IncomeSharks (@IncomeSharks) May 24, 2022 In a fresh Twitter update, ...
