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.
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…
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…
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…
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,…
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…
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…
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…
You can now play a game that closely resembles Logan Paul’s design for CryptoZoo. RealZoo is a free game created by independent game developer Yipy that lacks any cryptographic components. Yipy claimed in a video that it only took him “a few hours” to develop and release RealZoo. Users of RealZoo can sign in with their Gmail accounts and receive free tokens to use on eggs that will eventually hatch into a variety of animals. These animals can then be “burned” to create more tokens or crossed to create hybrid animals. However, those tokens are not on any blockchain and…
To assist up-and-coming creators in harnessing the power of Web3 and blockchain technologies, Mastercard is introducing a spotlight program for budding musicians built on the Polygon blockchain. Beginning in the spring of 2023, the Mastercard Artist Accelerator program will give five up-and-coming artists—such as musicians, DJs, and producers—the resources, knowledge, and connections they need to carve out successful careers in the digital music industry. Exclusive access to special events, music releases, and more will be given to the artists. The artists will learn how to develop (and own) their brand through Web3 experiences like creating NFTs, putting up virtual personas,…
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