Top crypto tweets of the day – August 15th

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• Bitcoin Ordinals fees surged by 700% since April

  TL;DR Breakdown Bitcoin Ordinals transaction fees have witnessed an increase of 700% since April. Projects are shifting their attention to the Bitcoin network. A recent report compiled by @dgtl_assets of Dune Analytics sheds light on the growing popularity of Bitcoin Ordinals, revealing significant increases in network fees and shifting trends in inscription preferences. On May 20, the total network fees paid for the minting of Bitcoin Ordinals reached 1,414 BTC, equivalent to $38.2 million. This represents a staggering surge of 700% from April 20 and 831% from April 1, underscoring the escalating interest in Bitcoin NFTs. Bitcoin Ordinals grow in popularity Bitcoin Ordinals function as a numbering system that assigns a unique number to each Satoshi, allowing for precise tracking and seamless transfer. Furthermore, the Inscription process adds a layer of data to each Satoshi, enabling the creation of distinct digital assets on the Bitcoin blockchain. Notably, unlike traditional NFTs built using smart contracts and hosted on separate solutions like IPFS, Bitcoin Ordinals exist entirely on the Bitcoin blockchain, eliminating the need for sidechains or separate tokens. Recent data analysis…

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• SEC Chair Gensler asserts, “we don’t need more digital currency” as agency sues Coinbase and Binance

  TL;DR Breakdown SEC Chair Gary Gensler asserts there is no need for more digital currency amidst lawsuits against Binance and Coinbase for allegedly operating unregistered securities exchanges. Gensler defends the SEC’s legal position and draws parallels between the cases against Binance’s CEO and FTX founder, highlighting the importance of compliance with securities regulations. The charges against Coinbase focus on violations of US securities laws, with the SEC alleging that the exchange operated as an unregistered national securities exchange, broker, and clearing agency. In an interview with CNBC, Securities and Exchange Commission (SEC) Chair Gary Gensler responded to criticism by denying that his approach was confusing the crypto industry. This comes as the SEC filed lawsuits against major cryptocurrency exchanges Binance and Coinbase for allegedly operating unregistered securities exchanges. Gensler also drew parallels between the case against Binance‘s CEO Changpeng “CZ” Zhao and the criminal case involving FTX founder Sam Bankman-Fried. Gensler emphasized that the U.S. doesn’t require additional digital currencies, stating, “We already have digital currency; it’s called the U.S. dollar.” Also, he argued that throughout history, economies and the…

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• Phantom introduces “Sign In With Solana” feature, enhancing user experience and security

  TL;DR Breakdown Phantom, a leading wallet on Solana, has launched the “Sign In With Solana” (SIWS) feature, allowing a one-click sign-in method to authenticate users, improving user experience and security. The company collaborated with Solana Labs to ensure compatibility with the Solana Wallet Standard, and the new feature supports standardization across the Solana ecosystem, with mobile support planned for the near future. Description Phantom, the most widely used wallet on Solana, has launched a “Sign In With Solana” (SIWS) feature, allowing applications to authenticate users using just a Solana address. This new one-click “signIn” method is designed to improve the user experience and security by replacing the traditional two-step authentication process with a single-click method. Traditionally, users connecting … Read more Phantom, the most widely used wallet on Solana, has launched a “Sign In With Solana” (SIWS) feature, allowing applications to authenticate users using just a Solana address. This new one-click “signIn” method is designed to improve the user experience and security by replacing the traditional two-step authentication process with a single-click method. Traditionally, users connecting their wallets to major…

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• OKX’s liquid marketplace achieves a $3 billion trading volume milestone, empowering institutional traders

  TL;DR Breakdown OKX’s Liquid Marketplace reaches a milestone with over $3 billion in trading volume. The platform focuses on serving professional and institutional traders in the crypto industry. OKX partners with Komainu to offer secure custody services for institutional investors. Description In a groundbreaking milestone, OKX, the world’s second-largest cryptocurrency exchange by 24-hour trading volume, proudly announced that its Liquid Marketplace has soared past $3 billion in trading volume, solidifying its preeminent network catering to professional and institutional traders. This revelation, unveiled on Friday, demonstrates the resounding success of OKX’s on-demand liquidity network designed to facilitate … Read more In a groundbreaking milestone, OKX, the world’s second-largest cryptocurrency exchange by 24-hour trading volume, proudly announced that its Liquid Marketplace has soared past $3 billion in trading volume, solidifying its preeminent network catering to professional and institutional traders. This revelation, unveiled on Friday, demonstrates the resounding success of OKX’s on-demand liquidity network designed to facilitate large-scale transactions involving digital assets. To empower professional and institutional traders with seamless transactions, the Liquid Marketplace offers a unique feature called Requests for Quotations (RFQs),…

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• Atomic Wallet efforts to track and revert stolen funds

  TL;DR Breakdown Atomic Wallet and blockchain investigators have been working diligently to track and return the stolen funds. The company claims that less than 1% of its monthly active users were affected. Despite the Company’s official announcement, some users were still reporting losses at the time of writing. A recent hack targeting Atomic Wallet resulted in the theft of $35 million from its users since June 2. However, the company claims that less than 1% of its monthly active users were affected. Following the attack, Atomic Wallet and blockchain investigators have been working diligently to track and return the stolen funds. Exploiting the situation, several verified scam Twitter accounts impersonated Atomic Wallet and shared phishing links, falsely promising to assist users in recovering their lost funds. Despite Atomic Wallet’s official announcement, some users were still reporting losses at the time of writing. The community criticized the company for downplaying the extent of the damage, as users believed the hacker primarily targeted wallets with substantial funds. At the moment less than 1% of our monthly active users have been affected/reported. Last…

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