💰 Bitcoin Halving, Runes Proliferation Results in Historic Fee Increases, Crypto Community Reacts

Onchain fees have soared to their highest level since block height 840,000 and continue to stay elevated. At approximately 9 p.m. ET on Friday, a high-priority fee on the Bitcoin network escalated past the $240 per transfer mark. Currently, fees are hovering around 590 satoshis per virtual byte (sat/vB), which equates to approximately $52 per transfer. The significant increase in fees has generated a considerable amount of discussion within the cryptocurrency community over the past 12 hours.

Source

🔊 Join @Crypto_Publisher
💬 Contact us @Crypto_Marcus

💰 Mt Gox: Euphoria Hits Community As New Repayment Date Comes Into View

Mt Gox may be nearing the final stage of its much-anticipated repayment process to its creditors as the community recently took to Reddit to celebrate the new updates on its website. One Reddit user dubbed Due_Career_4786 stated that the Mt Gox website went down a few days ago due to some suspected technical discrepancies. He precisely mentioned that the glitch was a function of an ongoing update being carried out on the platform.

Source

🔊 Join @Crypto_Publisher
💬 Contact us @Crypto_Marcus

💰 Mt. Gox creditors report bitcoin and bitcoin cash payment update on claims system

Multiple Mt. Gox creditors have reported that the trustee has updated claim accounts with bitcoin and fiat repayment data. According to users of the Mt. Gox insolvency subreddit, the Mt. Gox trustee has added specific amounts to be repaid and dates of the completion of repayment to their claim accounts. Multiple screenshots show that the repayment status in the fiat currency repayment claim section is labeled complete. A number of users have claimed that they received fiat currency repayments in their bank accounts.

Source

🔊 Join @Crypto_Publisher
💬 Contact us @Crypto_Marcus

💰 Bitwise: Bitcoin Will Have 'a Great Next 12 Months'

Bitwise Asset Management expects bitcoin to have a great next 12 months. A Bitwise researcher has explained that the cryptocurrency will likely continue to test its “higher highs” this year and next. He considers regulatory risk to be the primary concern for bitcoin.

Source

🔊 Join @Crypto_Publisher
💬 Contact us @Crypto_Marcus

🟠 Binance unveils spot copy trading feature in automated strategy tools expansion

Binance, the largest crypto exchange by trading volume, is set to roll out a new spot copy trading tool — enabling users to follow and automatically execute the same trades as some of the platform’s top traders. “At Binance, we’re always listening to our users and incorporating their feedback into our products. Our users give us great ideas because, very often, they know what works best for them,” Binance CTO Rohit Wad said in a statement shared with The Block.

Source

🔊 Join @Crypto_Publisher
💬 Contact us @Crypto_Marcus

💰 Do Kwon, Terraform Labs Should Get $5.3B Fine, SEC Tells Court

The U.S. Securities and Exchange Commission (SEC) has asked a New York court to impose $5.3 billion in fines on Terraform Labs and co-founder Do Kwon for their role in the $40 billion implosion of the Terra ecosystem in 2022. Terraform Labs and Kwon were found liable on civil fraud charges earlier this month, when a Manhattan jury concluded that they had misled investors about the stability of their so-called “algorithmic” native stablecoin, Terra USD (UST), and the use cases for the Terra blockchain.

Source

🔊 Join @Crypto_Publisher
💬 Contact us @Crypto_Marcus

🇺🇸 US SEC expected to deny spot 🪙 Ether ETFs in May

The United States Securities and Exchange Commission (SEC) will most likely deny spot Ether exchange-traded funds (ETF) in May, according to a new report. Reuters reported on April 24 that U.S. issuers and other firms expect the SEC to reject spot Ether ETF applications next month following meetings with the regulator in recent weeks, citing four people who participated in the meetings.

Source

🔊 Join @Crypto_Publisher
💬 Contact us @Crypto_Marcus

🪙 USDT's exchange balance hits highest level in a year and keeps rising

Exchanges are holding more of Tether's USDT. The 7-day moving average of the change in USDT held by exchanges reached $568 million earlier this month, the highest it's been in a year. The moving average has remained positive since the start of February, indicating consistent growth of exchanges’ USDT holdings.

Source

🔊 Join @Crypto_Publisher
💬 Contact us @Crypto_Marcus

🪙 Vitalik Buterin says that Ethereum's PoW was 'quite centralized' and a 'temporary stage' until PoS

Ethereum co-founder Vitalik Buterin responded to comments about Ethereum's transition to a proof-of-stake (PoS) from a proof-of-work (PoS) consensus system. Users had noted on social media platform X that numerous Ethereum community members wished the network stayed with PoW instead of PoS. That sentiment received pushback from the man who first proposed the creation of Ethereum in 2013 at the age of 19.

Source

🔊 Join @Crypto_Publisher
💬 Contact us @Crypto_Marcus

🟠 Binance’s defense against SEC could be aided by Mango Markets case

Binance could strengthen its defense against the US Securities and Exchange Commission (SEC) by drawing on an unrelated case. On April 26, Binance and related parties filed a government document from an unrelated case against Mango Markets exploiter Abraham Eisenberg, who was convicted by a jury on April 18. Binance’s defense team drew attention to a specific paragraph in which the US government expressed its position on whether a particular stablecoin, USDC, is a security.

Source

🔊 Join @Crypto_Publisher
💬 Contact us @Crypto_Marcus

💰 Bitcoiner and author of the book Broken Money explains that in the long term, Bitcoin is correlated to measures of global liquidity rather than 🇺🇸 U.S. stocks

“I view Bitcoin as not only a good performing asset, but one that is tied to global liquidity and is not necessarily correlated to other portfolio assets.”

- Lyn Alden

🔊 Join @Crypto_Publisher
💬 Contact us @Crypto_Marcus

📊 Tether, USDC and DAI transaction volume surpasses Visa's 2023 monthly average: Nansen

Crypto's three largest stablecoins — Tether , USDC and DAI — have seen higher volumes in the past 30 days than Visa’s average monthly total from last year, according to onchain specialist Nansen. Nansen data showed that the largest stablecoin by market capitalization, Tether, processed $654 billion in the past 30 days, while DAI managed over $394 billion of flows and USDC saw $321 billion in trading volume.

Source

🔊 Join @Crypto_Publisher
💬 Contact us @Crypto_Marcus

💰 Bitcoin testnet griefing attack generates three years worth of blocks in one week, frustrating developers

A griefing attack on the Bitcoin testnet network disrupted its normal functioning. A griefing attack is when someone intentionally spams transactions on a network, increasing its workload and throwing off its usual operations. Griefing attacks often frustrates other network users, as it's harder to run applications on top of the system, while not financially benefiting the attacker.

Source

🔊 Join @Crypto_Publisher
💬 Contact us @Crypto_Marcus

🇺🇸 US 💰 Bitcoin ETFs record fourth consecutive trading day of outflows

According to the latest data from Farside Investors, April 29 saw an outflow of $51.6 million from US Bitcoin ETFs, marking the fourth consecutive trading day of outflows. While this figure does not represent the lowest outflow during this period, it highlights the prevailing market sentiment. Grayscale’s GBTC product witnessed an outflow of $24.7 million, the lowest since April 10, bringing its total outflows to $17,209.3 billion.

Source

🔊 Join @Crypto_Publisher
💬 Contact us @Crypto_Marcus

🟠 Binance founder Changpeng ‘CZ’ Zhao sentenced to 4 months in prison

Former Binance CEO Changpeng Zhao has been sentenced to four months in prison, according to a report from Bloomberg on April 30. Zhao’s final sentence is considerably less than the three-year prison sentence prosecutors were seeking — more than twice the recommended guideline for the relevant charges. A separate report from Fortune noted that Zhao will pay a $50 million personal fine, allowing him to keep most of his $43 billion in personal wealth. Zhao will be the wealthiest individual in the US prison system, according to the report.

Source

🔊 Join @Crypto_Publisher
💬 Contact us @Crypto_Marcus

📉Crypto scams hit historic low in April, plummeting 68%

Crypto-related exploits and scams plummeted 68% in April compared to the previous month, reaching a historic low of $25.7 million, according to blockchain security firm CertiK. A breakdown of the incidents showed that the bulk of the losses, totaling $21 million, stemmed from exploits targeting blockchain protocols. Additionally, users suffered losses of $4.3 million due to exit scams and rug pulls orchestrated by malicious founders, with flash loans contributing a nominal $129,000 to the overall figure.

Source

🔊 Join @Crypto_Publisher
💬 Contact us @Crypto_Marcus