TL;DR Breakdown In an upcoming hard fork, the BNB Beacon Chain mainnet, operated by Binance, is set to introduce a new feature that allows the blockchain to halt the production of new blocks under specific conditions. This feature is designed to mitigate the potential damage caused by cross-chain bridge exploits, such as the BNB Smart Chain exploit that occurred on October 7, 2022. For holders who use Binance.com or other centralized exchanges or cold wallets, no immediate action is required. Description In an upcoming hard fork, the BNB Beacon Chain mainnet, operated by Binance, is set to introduce a new feature that allows the blockchain to halt the production of new blocks under specific conditions. The upgrade, named “ZhangHeng,” is scheduled to occur at block height 328,088,888, which is estimated to take place on July 19, … Read more In an upcoming hard fork, the BNB Beacon Chain mainnet, operated by Binance, is set to introduce a new feature that allows the blockchain to halt the production of new blocks under specific conditions. The upgrade, named “ZhangHeng,” is scheduled to…

TL;DR Breakdown Bitcoin and the entire crypto market take a nosedive following the Consumer Price Index (CPI) released yesterday. Today morning, two wallets linked to the US government – With Silk Road BTC holdings- moved $300 worth of BTC, bringing a negative sentiment to the crypto market. Some analysts believe it is only a matter of time before Bitcoin starts its partial recovery from a crypto meltdown in 2022. Description After a slight decline yesterday, both the Bitcoin (BTC) price and the crypto market cap displayed bearish indications. The current Bitcoin price, according to CoinMarketCap, is $30,595.80. B TC has a 24-hour trading volume of $14,855,555.780 million. In the past twenty-four hours, Bitcoin has declined by 0.33 percent.  According to CoinGecko, the current global crypto … Read more After a slight decline yesterday, both the Bitcoin (BTC) price and the crypto market cap displayed bearish indications. The current Bitcoin price, according to CoinMarketCap, is $30,595.80. B TC has a 24-hour trading volume of $14,855,555.780 million. In the past twenty-four hours, Bitcoin has declined by 0.33 percent.  According to CoinGecko, the…

TL;DR Breakdown Lawyers representing FTX Trading and Maclaurin Investments have requested the recovery of over $323.5 million from the leadership of FTX Europe in a bankruptcy court filing. The motion alleges that FTX Europe had limited business operations and no significant intellectual property beyond a business plan. The legal team seeks to halt any remaining payments to the FTX Europe leadership and argues that the company lacks value as an asset. Plaintiffs aim to recover funds from the defendants related to the acquisition of DAAG, which became FTX Europe. Description U.S. lawyers representing FTX Trading Ltd. and Maclaurin Investments Ltd. are seeking the recovery of $323.5 million from FTX’s European leadership in a significant court battle in a Delaware bankruptcy court. The sum in dispute relates to alleged excessive earn-out payments and fund transfers made during the acquisition of a Swiss company named DAAG, which … Read more U.S. lawyers representing FTX Trading Ltd. and Maclaurin Investments Ltd. are seeking the recovery of $323.5 million from FTX’s European leadership in a significant court battle in a Delaware bankruptcy court. The…

TL;DR Breakdown Meta has already introduced its language model called LLaMa earlier this year, but the upcoming commercial version is expected to be more widely accessible. The Company’s high-level strategy, as revealed by a source familiar with the matter, is to challenge the dominance of OpenAI in the AI landscape. Author Sarah Silverman, along with two other authors, has filed a lawsuit against the Company, alleging copyright infringement in the training of its AI systems. Description According to a report by the Financial Times, Meta, formerly known as Facebook, is planning to launch a commercial version of its artificial intelligence (AI) model. The aim of this release is to expand the usage of Meta’s AI technology and allow companies to customize it to their specific needs. The company has already introduced … Read more According to a report by the Financial Times, Meta, formerly known as Facebook, is planning to launch a commercial version of its artificial intelligence (AI) model. The aim of this release is to expand the usage of Meta’s AI technology and allow companies to customize it…

TL;DR Breakdown Charles Hoskinson has suggested that Algorand, a competing blockchain protocol, transfer its codes onto the Cardano platform and become a sidechain. Hoskinson highlights Cardano’s expertise in staking and smart contract-backed ecosystems as potential advantages for cryptocurrency protocol. Description In a surprising move within the blockchain industry, Charles Hoskinson, the founder of Cardano, has extended a proposition to Algorand, a competing blockchain protocol. Hoskinson has suggested that Algorand transfer its codes onto the Cardano platform, presenting the potential benefits of becoming a sidechain. This proposal emerged following a tweet from John Woods, the CTO … Read more In a surprising move within the blockchain industry, Charles Hoskinson, the founder of Cardano, has extended a proposition to Algorand, a competing blockchain protocol. Hoskinson has suggested that Algorand transfer its codes onto the Cardano platform, presenting the potential benefits of becoming a sidechain. This proposal emerged following a tweet from John Woods, the CTO of the Algorand Foundation, in which he discussed the state of staking on Algorand and mentioned Cardano as one of the leading Delegated Proof-of-Stake (PoS) protocols. While…

TL;DR Breakdown Prominent financial figures, including Robert Kiyosaki, warn of an impending financial crash and the end of fiat money, recommending investment in gold, silver, and cryptocurrencies as a safeguard. The upcoming BRUCS meeting may play a pivotal role in global economics, with rumors suggesting a potential shift towards a gold-backed currency, which could significantly undermine traditional fiat currencies. Description As ominous predictions of a colossal financial crash reverberate across the globe, the world is abuzz with speculation about the potential demise of fiat currency. Robert Kiyosaki, renowned author, and financial pundit, has amplified these fears with dire warnings about the future of traditional money. Pointing towards the upcoming BRUCS meeting, he urges investors to … Read more As ominous predictions of a colossal financial crash reverberate across the globe, the world is abuzz with speculation about the potential demise of fiat currency. Robert Kiyosaki, renowned author, and financial pundit, has amplified these fears with dire warnings about the future of traditional money. Pointing towards the upcoming BRUCS meeting, he urges investors to protect their assets by turning to gold,…

TL;DR Breakdown Dapper Labs has laid off 51 employees in its third round in less than a year Despite the cuts, the CEO has emphasized that both the company and Flow, its blockchain, are adequately capitalized The move comes amid a larger decline in NFT markets Description Dapper Labs has laid off 51 employees in its third round in less than a year. Dapper Labs CEO Roham Gharegozlou highlighted that the staff laid off constituted both full-time staff and C1 contractors. Despite the cuts, the CEO has emphasized that both the company and Flow, its blockchain, are adequately capitalized.  Gharegozlou said the … Read more Dapper Labs has laid off 51 employees in its third round in less than a year. Dapper Labs CEO Roham Gharegozlou highlighted that the staff laid off constituted both full-time staff and C1 contractors. Despite the cuts, the CEO has emphasized that both the company and Flow, its blockchain, are adequately capitalized.  Gharegozlou said the decision was hard since amazing “colleagues and friends” were affected. He added that it was a necessary step and the…

TL;DR Breakdown The Lummis Gillibrand Responsible Financial Innovation Act, though facing opposition in the Senate, has the potential to significantly impact the future of cryptocurrency regulation. The bill introduces notable changes such as defining smart contracts, mandating proof of reserves for crypto asset intermediaries, and stricter penalties for crypto-related money laundering. Description The recently introduced Lummis Gillibrand Responsible Financial Innovation Act, which contains significant implications for the future of cryptocurrency, is under debate in the Senate. This 274-page bill covers a wide array of cryptocurrency-related topics, from securities and commodities regulations, taxation, and broad interagency coordination to the regulation of “payment stablecoins”. However, its future is uncertain … Read more The recently introduced Lummis Gillibrand Responsible Financial Innovation Act, which contains significant implications for the future of cryptocurrency, is under debate in the Senate. This 274-page bill covers a wide array of cryptocurrency-related topics, from securities and commodities regulations, taxation, and broad interagency coordination to the regulation of “payment stablecoins”. However, its future is uncertain due to resistance from Banking Committee Chair Senator Brown and some fellow Democrats. The Bill’s…

TL;DR Breakdown Coinbase Wallet has unveiled an XMTP-based encrypted messaging service. The feature aims to lower fraud by allowing direct, verifiable communication between crypto wallet owners. The XMTP system ensures message continuity even if Coinbase ceases operation, marking a step towards decentralization. Description Coinbase has announced an innovative feature to its wallet: Encrypted messaging. This feature, designed to empower its user base with seamless communication, signifies an important stride in the firm’s commitment to harness the power of decentralization. Opening the conversation lines with XMTP Utilizing the Extensible Message Transport Protocol (XMTP), an instant messaging system built for … Read more Coinbase has announced an innovative feature to its wallet: Encrypted messaging. This feature, designed to empower its user base with seamless communication, signifies an important stride in the firm’s commitment to harness the power of decentralization. Opening the conversation lines with XMTP Utilizing the Extensible Message Transport Protocol (XMTP), an instant messaging system built for blockchain addresses, Coinbase Wallet now enables its users to communicate directly. This applies to all wallet users, including those owning Web3 social platform Lens…

TL;DR Breakdown ARK Invest, led by Cathie Wood, sold 135,152 Coinbase shares ($12 million) as the stock price spiked. The sale came from ARK Innovation ETF and represented only 0.14% of the fund’s holdings. Despite selling, ARK continues to accumulate Coinbase shares across its funds, indicating confidence in the crypto company. Description In an investment landscape where Bitcoin takes center stage, veteran advocate Cathie Wood has her firm, ARK Invest, skimming some gains off its substantial stake in Coinbase. The operation coincides with a recent surge in Coinbase’s share price, illustrating ARK’s strategic acumen in capitalizing on favorable market trends. Cashing in on the crypto exchange On … Read more In an investment landscape where Bitcoin takes center stage, veteran advocate Cathie Wood has her firm, ARK Invest, skimming some gains off its substantial stake in Coinbase. The operation coincides with a recent surge in Coinbase’s share price, illustrating ARK’s strategic acumen in capitalizing on favorable market trends. Cashing in on the crypto exchange On July 11th, ARK Invest demonstrated its propensity for prudent financial decisions by divesting a portion…