Ethereum News Today TheBitTimes.com

Following the initial incident on Feb. 25, Solana resolved the blockchain’s performance degradation after validators decided to restart the network. According to an outage report following more than 24 hours of downtime, Solana developers detailed that the “root cause is still unknown and under active investigation.” Social Media Mocks Solana’s 10th Downtime, Supporters Defend Project Solana has faced renewed criticism after the blockchain network experienced its tenth downtime on Feb. 25 and into the following day. The network was widely mocked on social media and forums, including r/cryptocurrency. In one forum thread, a user wrote, “Giving a second chance is one thing I can get behind. An 11th chance, on the other hand, is beyond delusional.” Additionally, people made jokes about the bumpy restart of Solana, and in the Discord server, validators discussed adding their phone numbers to receive text messages about future restarts. Bitcoin.com News reported on the initial down...

The partnership will grant the 200,000+ users across Phaver and other Lens-based Web3 apps access to daily Cointelegraph content. Cointelegraph is proud to announce its partnership with Phaver, a mobile Web3 social application with over 140,000 monthly users. The partnership will provide daily Cointelegraph content to Phaver users and others across applications built on the Lens protocol. Cointelegraph, the world’s largest crypto media platform, is a strong believer in the emergence of Web3 Social Media applications.  The partnership with Cointelegraph is a major milestone for Phaver and the Lens Protocol, both of which have been on a mission to develop and grow Web3 alternatives to current Social Media platforms. It’s also a significant step for Cointelegraph, which believes in pioneering Web3 Social Media services. Phaver CEO Joonatan Lintala said: “Cointelegraph articles have already been shared tens of thousands of times by our users on Phaver, so we are really excited to have ...

NanoLabs has filed a trademark infringement lawsuit against crypto exchange Coinbase for its Nano Bitcoin futures contract and Nano Ether futures contract. Crypto exchange Coinbase has been named as a defendant in a legal complaint brought by NanoLabs — the company behind the digital currency Nano (NANO) — over alleged trademark infringement.  In the Feb. 24 filing with the California Northern District Court, NanoLabs alleged Coinbase's Nano Bitcoin futures contract and Nano Ether futures contract products infringe on trademark rights owned by them. It’s also alleged the infringement has caused NanoLabs economic detriment and weakened its brand identity, resulting in “actual damage and irreparable harm."  Colin LeMahieu founded the Nano Digital Currency in 2014; which was originally named RaiBlocks. It was rebranded to Nano on Jan. 31, 2018. Years later, Coinbase launched its Nano Bitcoin futures contract on June 27, 2022, and its Nano Ether futures contract on Aug. 29, 202...

Since the Blur marketplace is about to do a second airdrop, Andrew Thurman of Nansen thought that this big NFT dump could be a way to get more BLUR tokens and make money at the same time. According to information from Nansen, nonfungible token (NFT) whale Jeffrey Hwang, also known as Machi Big Brother, sold 1,010 tokens in 48 hours for 11,680 Ether, or $18.6 million. Andrew Thurman, Nansen’s simian psychometric enhancement technician, wrote on Twitter on February 25 that the trading activity over the past two days is “likely the largest NFT dump ever.” At the big selling event, there were, among other things, 90 Bored Ape Yacht Club (BAYC) NFTs, 191 Mutant Ape Yacht Club (MAYC) NFTs, and 308 Otherdeed NFTs. In what's likely the largest NFT dump ever, in the past 48 hours Machi has sold 1,010 NFTs, including: – 90 BAYC for 5707 ETH – 191 MAYC for 3091 ETH – 112 Azuki for 1644 ETH – 308 Otherdeed for 582 ETH But he...

Join Our Telegram channel to stay up to date on breaking news coverage What – The blockchain firm Immutable is the latest in the industry to dismiss some employees. Why – The negative events within the crypto industry last year affected the overall market conditions negatively. What next – The gaming company says its action is to prolong its cash reserve. As a result, several crypto-related companies reduced their workforce to reposition for survival. But the strategy has rolled over to the beginning of 2023 as more firms continue to reduce their staff strength. Organizational Restructuring Reduces Workforce Recently, Sydney Morning Herald reported that the biggest Australian gaming firm, Immutable, is laying off some employees. According to the report, Immutable is cutting its workforce by 11% through this recent exercise. This is the second time the gaming start-up dropped employees after the previous one in July 2022. The report revealed that the c...

Four Russians have been charged in the U.S. with operating a crypto pyramid and Ponzi scheme that defrauded investors of millions of dollars. If convicted, they would face a maximum penalty of 20 years in prison for their roles in the purportedly decentralized finance (defi) platform Forsage. Forsage Founders Charged With Running Cryptocurrency Pyramid A federal grand jury in the District of Oregon returned an indictment on Wednesday charging the founders of a defi crypto investment platform for what authorities believe to have been a global Ponzi scheme. The entity, Forsage, allegedly raised around $340 million from its victims, according to an announcement by the U.S. Justice Department. All four indicted — Vladimir Okhotnikov, Olena Oblamska, Mikhail Sergeev, and Sergey Maslakov — are citizens of the Russian Federation. Some of them used one or more aliases while aggressively promoting the project through its website and social media as a legitimate, lucrative, and l...

Join Our Telegram channel to stay up to date on breaking news coverage In a bankruptcy court filing on February 22, the U.S. Federal Trade Commission (FTC) revealed that it is investigating the marketing schemes of the crypto lending firm Voyager. As per the complaint, FTC has commenced a probe into certain acts and practices of Voyager and its employees” for their deceptive and unfair marketing of cryptocurrency to the public.” However, the announcement came after Bankruptcy judge Michael wiles previously approved a plan in which the lending firm’s debtors would sell Voyager’s assets to Binance.US for over $1 billion. Notably, the FTC filing stipulates that the proposed sale of debtors’ assets would interfere with the ongoing probe. It could free the lending firm and some staff members from the alleged “fraud-related charges held by the governmental unit.” On January 10, Judge Michael Wiles allowed the lending firm to enter an asset pu...

BIS General Manager Agustín Carstens reckons the war between fiat and crypto has been won by fiat. The community would tend to disagree. The Bank for International Settlements (BIS) has long taken a cautious approach to Bitcoin (BTC) and cryptocurrencies. No need for caution anymore, however, as the “battle has been won” between fiat and crypto, according to BIS. BIS general manager Agustín Carstens, who made the claim, highlighted that “technology doesn’t make for trusted money,” among further criticisms of crypto in an interview with Bloomberg. Crypto has lost the argument that it's an alternative to fiat currency, the head of the Bank for International Settlements says https://t.co/xZKFHEj3b2 — Bloomberg Crypto (@crypto) February 22, 2023 As the Central Bank for central banks, the BIS has emphasized the need for Regulation and risk management in the crypto space–but claim ing the fiat battle has been won sparked outrage, satire and corrections among the Bitcoin and cr...

Microsoft has been all over the headlines and news for its collaboration with ChatGPT. The multinational tech corporation has also been praising the abilities of ChatGPT and how it can change the tech world. Now, in one of the latest announcements, Microsoft has unveiled a new partnership with Ankr , a Web3 infrastructure platform. The new partnership is aimed at the deployment of a noble node hosting service on Microsoft ’s Azure marketplace. Also read: Polygon Labs Lays off 20% of its Employees Source: Coincu News The partnership will combine tech from Microsoft and Ankr According to the details, the partnership will also combine the technology from both Microsoft and Ankr . Ankr ’s enterprise node deployment service, according to the company, aims to give Web3 projects fast blockchain connections so that developers can concentrate on scaling their applications. The service makes it easier to deploy smart contracts, relays transactions, and provides low-late...

Join Our Telegram channel to stay up to date on breaking news coverage NFT trading has intensified recently as Ethereum NFT volume more than doubled in the past week, following two consecutive months of sales growth. Due to an evolving market, where leader OpenSea has been surpassed by upstart marketplace Blur, traders have been quickly exchanging valuable NFTs for DeFi tokens. DappRadar data shows that Blur generated $460 million in Ethereum NFT trades in the last seven days, a 361% increase from the prior week. While this was happening, OpenSea’s trading volume increased by 12% to $107 million. The total number of trades on the third-place platform, X2Y2, was just $11 million during that time. Overall, CryptoSlam reports that the volume of trading in Ethereum NFT has increased by 155% week over week. The increase in volume occurs after Blur airdropped its BLUR governance token to NFT traders who earned awards through the exchange and by trading elsewhere before Blur...

This week, two little-known altcoins that are based on Ethereum (ETH) are going up in value while most of the cryptocurrency market stays flat . At the time of writing, Mask Network (MASK), a project that wants to add Web3 Features to social media sites like Twitter and Facebook, was worth $3.97. The 119th-ranked crypto asset by market cap has gone up by more than 47.5% in the last week and more than 3% in the last 24 hours. At the time of writing, Ribbon Finance (RBN), which is a set of DeFi protocols designed to help users access crypto-structured products, was trading at 0.265951. The 178th-ranked crypto asset by market cap has gone up by more than 41% in the last week, but it has gone down by nearly 2% in the last 24 hours. This week, Ribbon Finance released new products and a new program called Ribbon VIP. Ribbon VIP is a “elevated level of service and community” for the project’s most important stakeholders. Mask Network chose the fi...

With more than 150,000 Ordinal inscriptions on the Bitcoin block chain , there are now numerous collections as creators and artists have found a new way to monetize their artworks via block chain technology. In the past month, people have launched collections such as Ordinal Punks, Ordinal Penguins, Bitcoin Shrooms, Inscribed Pepe, Planetary Ordinals, Based Apes, Satoshi Punks, Ordinals Eggs, Block Munchers, and more. Although the inscription trend is still young, several collections are attempting to establish themselves in this emerging market, and some are selling for significant value. Collections on Bitcoin Blockchain Hope to Become ‘Blue-Chip’ Digital Collectibles These days, there are numerous Ordinal inscriptions on the Bitcoin block chain as demand for the technology has greatly increased. For years, block chain s like Ethereum have established collections such as the Bored Ape Yacht Club (BAYC), Cryptopunks, Azuki, Moon Birds, Doodles, Mutant Ape Yacht Club (...

Shytoshi Kusama, the lead developer of Shiba Inu, has apparently acknowledged the upcoming release of the Shibarium public beta testnet within the next week, according to social media reports and rumors. It all began when YourPOP, a Shiba Inu community member and Twitter user, tweeted about Kusama, stating that the Shibarium beta would be launched next week. Also read: Is Bitcoin Headed for a Major Bullish Rally? Price Indicator Shows  But Shibarmy Canada tweeted about YourPOP and asked the community to be cautious as no official announcement has been made. However, Kusama replied to the tweet, stating that they owe an apology to YourPOP if he is right. Wen he is right you owe him an apology. — Shytoshi™ (@ShytoshiKusama) February 18, 2023 Rumors about the Shibarium Public Beta Testnet have quickly spread on social media, with numerous tweets and retweets spreading this information. However, Shiba Inu’s Kusama has not formally publicized...

Crypto exchanges Binance and Huobi have frozen cryptocurrencies worth approximately $1.4 million linked to North Korea, according to blockchain analytics firm Elliptic. The firm noted that the stolen funds, which were dormant until recently, originated from the June 2022 hack of Harmony’s Horizon Bridge. North Korea-Linked Crypto Frozen by Binance and Huobi Blockchain analytics firm Elliptic said Tuesday that it has collaborated with cryptocurrency exchanges Binance and Huobi “to freeze Lazarus Group hack proceeds.” Elliptic wrote: Crypto exchanges Binance and Huobi today froze accounts containing approximately $1.4 million in cryptoassets originating from the June 2022 hack of Harmony’s Horizon Bridge. “The Horizon cross-chain bridge was attacked on June 24th 2022, resulting in the loss of $99.6 million in cryptoassets. These funds were then laundered through the now-sanctioned Tornado Cash,” the blockchain analytics firm detailed. Ethereum...

Join Our Telegram channel to stay up to date on breaking news coverage World’s largest cryptocurrency exchange Binance had transferred more than $400 million from Binance.US’s account at crypto-friendly California-based bank Silvergate Capital to Merit Peak Ltd, a trading company controlled by Binance CEO Changpeng Zhao, according to a Reuters report on Thursday that reviewed the quarterly banking records and company messages. BREAKING: Binance is just like FTX. And will meet the same fate. I hope all the "cryptobros" realize they were foreign agents and mafia patsies. https://t.co/J83pHx1xEy — Eric Garland (@ericgarland) February 17, 2023 Based on the reports, the funds were transferred between January and March 2021 from a Silvergate account owned by Binance.US, the United States affiliate of Binance, registered under the name BAM Trading. Company messages show the transfers to Merit Peak started in late 2020. A person close to the matter has also indi...