Author: Saheel Khirodkar

Saheel Khirodkar

Saheel works as a content writer for Bitnewstoday. He has always been interested in journalism and enjoys writing. Furthermore, His interest lies in cryptocurrency, and is continuously seeking for new techniques to invest. In his free time, he enjoys staying up to date on the latest industry news and spending time with his family.

Bitcoin, the decentralized digital currency, has been gaining traction in recent years as more and more people become interested in its potential as a new form of money. However, in order to fully realize its potential, Bitcoin must be integrated with new social system technology. One of the main challenges facing Bitcoin as a form of money is its lack of integration with existing financial systems. While it is possible to buy and sell goods and services using Bitcoin, it is not yet widely accepted by merchants and businesses. This makes it difficult for people to use Bitcoin on a…

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The Consumer Electronics Show (CES) 2023 has showcased the integration of the sense of smell into virtual reality (VR) experiences, as metaverse-focused companies look to create more immersive and realistic experiences for users. Consulting firm McKinsey & Company has predicted that the metaverse could generate $5 trillion in value by 2030, but notes that success in the metaverse will depend on developing a more human aspect that delivers positive experiences to users. The integration of the senses of smell and touch into VR experiences is seen as one way to achieve this. One of the companies at CES 2023, OVR…

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Kraken, one of the leading cryptocurrency exchange platforms, has announced the distribution of Flare (FLR) tokens to eligible clients. As per the announcement made on December 11, 2020, clients who had XRP balances in their Kraken accounts at the time of the snapshot, which took place on December 12, 2020, are expected to receive approximately 15% of the total FLR tokens on January 10, 2023. According to the information provided by Kraken, the clients will receive 0.151095 FLR for every 1.0000 XRP they had at the time of the snapshot. This means that clients who had higher XRP balances in…

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Hive Blockchain (HIVE), a Canadian bitcoin miner, earned $3.15 million, or the equivalent of about 184 bitcoin, in December despite mining 213.8 BTC for the month.In order to deal with market pressures that have led to some of the biggest names in the industry filing for Chapter 11 bankruptcy, miners have been reducing their power use during times of high energy demand and selling the electricity back to the grid.Hive mines other tokens using a combination of computers designed specifically for mining bitcoin, called application-specific integrated circuits (ASIC), and general-purpose graphics processing units (GPU). After mining the alternative coins, the…

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Bored Apes Rule the NFT Market: Collection Rakes in $19 Million in Sales, 52.82% Increase from Last Week NFT sales statistics show a 26.01% increase in the first week of the new year compared to the final week of 2022. According to Cryptoslam.io metrics, 400,748 NFT buyers participated in 1.2 million NFT transactions. 19 different blockchain networks saw NFT sales totaling $208.99 million, with Ethereum taking home $164.35 million. This week, sales of NFTs based on Ethereum are up 26.22%, followed by those of NFTs based on Solana (+28.8%), Immutable X (+20.83%), Cardano (+35.97%), and BNB (+71.35%). BNB saw the…

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Wyre, a supplier of cryptocurrency payment services, has announced a change to its regulations. The company will now restrict clients from withdrawing no more than 90% of the cash already held in each account. According to a statement on Twitter, the company said: “We will be revising our withdrawal policy. While consumers will still be able to withdraw their monies, we are presently limiting withdrawals to no more than 90% of the funds in each customer’s account, subject to daily limitations.” This new regulation applies to all clients who use the company’s services. Withdrawal requests that exceed the specified limit…

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Experts in blockchain security have warned that decentralized finance (DeFi) investors should expect to see more attacks and exploits in the coming year. According to a report by Drofa, which was shared with Cointelegraph, execs from blockchain security and auditing firms HashEx, Beosin and Apostro have said that as new projects enter the market, and hackers become more sophisticated, the number of attacks on DeFi projects will continue to increase. The report specifically highlighted the reason behind last year’s spike in DeFi hacks, and whether this trend will continue through 2023. Tommy Deng, managing director of blockchain security firm Beosin,…

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The US Department of Justice (DOJ) has taken control of shares in popular trading app Robinhood worth over $456 million, which are linked to Sam Bankman-Fried, despite objections from the legal team of the former CEO of now-bankrupt crypto-exchange FTX. A filing from the Commercial Litigation branch of the DOJ Civil Division on January 6th has informed the bankruptcy court in New Jersey that the shares are now in the possession of the US government. The filing states that the assets were seized due to alleged violations of money laundering and wire fraud criminal statutes. The court also ruled that…

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The only token chosen for use on Shibarium and for gas fees will continue to be BONE. Metrics supporting BONE’s rise made it one of the top gainers on January 5. On January 5, Shiba Inu [SHIB] posted a new update to its Shibarium via a Twitter thread. Shiba Inu addressed some misconceptions about the tokens in the tweet as investors got closer to the much-anticipated layer-2 blockchain’s launch. This new update gave hope that the launch might finally be on its way, as it has been delayed for a while. https://twitter.com/ShibariumNet/status/1610767855506563076?s=20&t=3BLPXScW8UO3zoTRJ5I6bw Rumors are not to be believed  Shibarium confirmed…

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Nexo Capital has accused its rival, crypto lending firm Vauld of not acting in the best interests of its creditors. Nexo is currently in the process of trying to acquire Vauld, but the company is rebuffing it and instead pushing for a “questionable” deal with an affiliated fund manager, according to a letter from Nexo. This alternative arrangement, the letter claims, could lead to the loss of assets for Vauld and heavy management fees. Nexo has urged creditors to seek an independent third-party administrator to ensure fairness in the voting process and results. Vauld has not yet commented on the…

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