Author: News Room

FTX’s bankruptcy estate is primed to pay its creditors more than the value of their original claims, according to the Financial Times. Citing two people “with knowledge of the restructuring negotiations,” FT reports that the imploded crypto exchange will likely pay its former customers 120-140% of the value of their holdings on the day FTX filed for bankruptcy in November 2022. The increased payouts are thanks to soaring crypto prices and FTX’s 8% stake in the AI (artificial intelligence) safety and research company Anthropic. The bankrupt exchange’s administrators reportedly plan to sell two-thirds of that Anthropic stake to a group…

Fidelity Investments has taken another step in its effort to launch a spot Ethereum ETF, filing a registration statement on March 27 despite the uncertain regulatory landscape. The move follows a previous filing by Cboe, the exchange planned for this ETF, which submitted a form 19b-4 to the SEC on Fidelity’s behalf in November 2023. Fidelity’s actions, alongside those of other firms aiming to introduce spot ether ETFs, illustrate the growing interest in integrating digital assets into traditional financial products. Yet, obtaining regulatory approval presents a notable challenge, highlighting the evolving and uncertain nature of crypto regulation. S-1 filing The…

Munchables, a web3 game operating on the Ethereum layer-2 network Blast, has successfully recovered the $62.5 million it recently lost to an exploit. The platform disclosed that the attacker voluntarily provided all relevant private keys to facilitate the return of user funds. The keys holding the $62.5 million worth of ETH, 73 WETH, and the main owner key were shared. Pacman, the founder of the layer-2 network, corroborated this development, stating that the hacker returned all stolen funds without demanding any ransom. Furthermore, Pacman announced that $97 million had been safeguarded in a multisig account controlled by Blast’s core contributors.…

Wladimir van der Laan – the former lead maintainer of Bitcoin Core – is mulling a comeback to Bitcoin development after the high-profile industry lawsuit, COPA v. Wright, came to a close earlier this month. In a blog post last Friday, the Bitcoin pioneer expressed relief and disbelief over the prosecutors’ victory, which saw London high court judge Edward James Mellor declare that self-styled Bitcoin creator Craig S. Wright is not, in fact, Satoshi Nakamoto, nor the author of Bitcoin’s whitepaper. Freedom From Craig Wright’s Pressure In agreement with the ruling, van der Laan asserted that Wright is an outright…

As the world gets into a frenzy around the coming Bitcoin halving – and the price of bitcoin (BTC) as a result – it’s important to take a moment for a reality check. This feature is part of CoinDesk’s “Future of Bitcoin” package published to coincide with the fourth Bitcoin “halving” in April 2024.David Bailey is chief marketing officer for Azteco. The halving is a non-event for the vast majority of the world. At its core, it’s a simple evolution in how much the people who process bitcoin transactions get paid. All electronic payments, whether made via credit card, Venmo…

The decentralized finance (DeFi) ecosystem is undergoing a shift towards more rational investments and maturing confidence, according to Exponential.fi’s latest report “The dawn of a new era in DeFi: From winter chills to summer thrills.” As the ‘DeFi Winter’ weakens its grip, the report states that the path ahead is a ‘hot bull summer’. Investors are now showing a marked preference for security, with a significant 75% of DeFi’s total value locked (TVL) flowing into pools offering a modest annual percentage yield (APY) of up to 5%. This conservative shift is particularly noticeable in Ethereum staking pools and highlights a…

ChainGPT and Polygon Labs team up to revolutionize NFT creation with AI technology and scalable blockchain integration. Interest in NFTs is surging again as the crypto market stabilizes and innovative solutions emerge. ChainGPT and Polygon Labs have announced a strategic partnership to streamline and democratize NFT creation by integrating artificial intelligence (AI) technology with a robust blockchain infrastructure. The integration of its AI NFT Generator with the Polygon blockchain has made on-chain minting and seamless AI-powered NFT creation possible. This partnership leverages Polygon’s efficient framework to streamline the entire NFT creation process from start to finish, addressing the current infrastructure…

Bitcoin Ordinals startup OrdinalsBot—which helped mine the largest-ever Bitcoin block and is working with Wu-Tang rapper Ghostface Killah on Ordinals—announced Tuesday that it surpassed its funding goal with a $3 million seed round led by DACM. The round brings OrdinalsBot’s total funding to over $4.5 million. OrdinalsBot launched in February of last year after Casey Rodarmor released the Ordinals protocol on Bitcoin for putting NFT-like media assets on-chain. Initially, inscribing an Ordinal required several complex steps, including downloading the entire history of the Bitcoin blockchain (aka a full node). OrdinalsBot aims to streamline the inscription minting process for collectors and…

Bitcoin’s price failed to overcome the $71,000 level decisively and has been pushed down to just under $70,000 as of now. However, the altcoins have retraced even more on a daily scale, which has pushed the BTC dominance to almost 50%. BTC’s Dominance Grows Despite Retracement The primary cryptocurrency added over seven grand in the middle of last week after the latest FOMC meeting. However, that rally was short-lived, and the asset quickly returned to $62,500 by Friday. The bulls tried to recover some ground during the weekend, and the attempt saw a minor success as BTC went as high…

The Metaverse needs a better definition for it to work properly, Vitalik Buterin said at the BUIDL Asia conference in Seoul. People associate the metaverse with VR, but there’s more to it than that. Ethereum’s Vitalik Buterin says that Metaverse isn’t what we think it is. The Metaverse is broadly understood as a virtual decentralized world with immersive social settings and experiences that utilize avatars, virtual reality (VR), and augmented reality (AR) technologies, with blockchain technology being the tie that binds this all together. “The Metaverse is poorly defined and often seen more as a brand name than a product.…