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The Avalanche Foundation, an institution that funds avalanche initiatives, has recently announced that it will start investing in meme coins. These purchases will be made using funds from the $100 million Culture Catalyst fund launched in 2022, and the tokens will be selected based on their number of holders, liquidity thresholds, and project maturity, among other elements. Avalanche to Invest in Meme Coins Using $100 Million Culture Catalyst Fund The Avalanche Foundation has announced that it is taking a position in meme coins. In a recent X post, the foundation revealed that it will invest in selected meme coins, broadening its portfolio as part of a comprehensive move to embrace “a more complete spectrum of possibilities.” This investment will be made using Culture Catalyst, a fund launched in 2022 during the Avalanche Summit in Barcelona. The institution will use part of the $100 million fund, initially focused on “helping to cultivate and support the many new forms of creati

Arthur Hayes, CIO of Maelstrom and former CEO of Bitmex, discussed the eventual demise of Tether and other stablecoin companies. Hayes explained that Tether’s business model, which consists of taking dollars and investing in treasuries, will eventually be cannibalized by big banks like JPMorgan when they get allowed to issue fiat-backed stablecoins. Arthur Hayes Warns About Banks Replacing Tether and Other Stablecoin Companies Arthur Hayes, the former CEO of Bitmex and CIO of Malestrom, a crypto-focused early-stage investment fund, has stated that he expects big banks to take over the stablecoin business, now dominated by Tether, the company behind USDT . At Laura Shin’s Unchained podcast, Hayes explained that while Tether has configured itself to be a great product in the crypto market, it has only achieved its status due to the refusal of the U.S. banking system to offer a similar product. On Tether’s business model, Hayes declared: The people who own Tether make something li

Crypto automated teller machines (ATMs) have experienced a decline this year, marking the first downturn since October 2013, with the total count dipping from 39,350 to the present 33,620. Approximately 5,730 cryptocurrency ATMs have been decommissioned, constituting a 14.56% decrease from the peak in December 2022. Over 5,700 Crypto ATMs Vanish in Historic 2023 Downturn This year marks an unprecedented shift in the landscape of crypto-centric ATMs, witnessing their first annual reduction since their inception. Data from coinatmradar.com shows that in December 2022, there existed 39,350 machines distributing crypto assets such as bitcoin ( BTC ) and ethereum ( ETH ). From that peak, the landscape has changed, with more than 14% of the original 39,000 units, totaling 5,730 machines, being subtracted, culminating in the current tally of roughly 33,620 crypto ATMs . The year 2023 witnessed the removal of machines continuously over the first four months with no uptick. January saw th

In a recent update, Ethereum co-founder Vitalik Buterin released an updated 2023 roadmap for the blockchain platform, detailing notable improvements and steadfast progress. Despite similarities to the previous year’s roadmap, the updated version underscores Ethereum’s evolving technical journey with goals aimed at improving scaling, security, and decentralization. Ethereum Co-Founder Drops Updated Roadmap on Social Media Following his recent blog post, Vitalik Buterin, the prominent co-founder of Ethereum, released a sequence of X posts concerning the network’s strategic direction. One of the critical updates highlighted by Buterin is the advancement towards single slot finality (SSF) in the Ethereum proof-of-stake (PoS) design. Currently, the consensus protocol can take up to 95 slots to finalize blocks, leaving the network susceptible to reorganizations and negatively impacting honest protocol adherence. Buterin notes , “It’s becoming clear that SSF is the easiest path to resolv

The decision by the U.S. Department of Justice (DOJ) not to pursue a second trial against disgraced FTX founder Sam Bankman-Fried (SBF) has outraged the crypto industry. Crypto exchange Coinbase calls the decision a “miscarriage of justice.” One lawyer opined, “Ask yourself why is this case being dropped in an election year,” noting that SBF gave the Biden administration $10 million and had personal meetings with U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler and SEC staff. DOJ’s Decision on SBF Trial Outrages Crypto Industry The U.S. Department of Justice (DOJ) has decided not to pursue a second trial against former FTX CEO Sam Bankman-Fried (SBF). The second trial, which had been slated to start in March, addresses an additional set of criminal counts against Bankman-Fried, including campaign finance charges. Sharing his thoughts in a series of posts on social media platform X Friday regarding “the DOJ’s decision not to pursue campaign finance charges again

On Friday, Bit Mining Limited declared it had sold the mining pool operations of Btc.com to a Hong Kong limited liability company for $5 million. This transaction is anticipated to bolster the total equity of Bit Mining’s shareholders, contingent upon certain concluding conditions. BTCM Offloads Btc.com Mining Pool for $5 Million Bit Mining (NYSE: BTCM ) has revealed that it divested its mining pool division related to Btc.com for a sum of $5 million. The sale was made to Esport-Win Limited, a firm based in Hong Kong. The company, listed on the NYSE and engaged in mining and blockchain infrastructure, reported that while the pool had generated $593.2 million in yearly revenue, it incurred a net operating loss of $2.6 million over the full year. BTCM expressed anticipation that the divestiture would lead to heightened profitability and a more robust cash standing. Originally known as 500.com Ltd and operating as a sports lottery firm, BTCM shifted focus towards bitcoin mining in 2

While the meme coin phenomenon bonk (BONK) captivated users on the Solana network, the cryptocurrency recently witnessed a 41% decline over the preceding fortnight, accompanied by a 20.8% descent in the past week. Following its mid-December peak to an all-time high (ATH), BONK has plummeted 57% from its ATH. From Peak to Plunge in the Meme Coin Madness BONK has witnessed a downturn over the past two weeks and on Dec. 30, 2023, it has an intraday trading range of $0.00001387 to $0.00001536, and at the time of writing, it is exchanging hands for $0.00001446, down 4.4% over the past day. While the crypto asset lost 41% over the two-week span and more than 20% this past week, BONK is still up by 272% over the last 30 days. However, with prices at $0.00001446, the value of BONK is down 57% since the ATH of $0.00003416 per unit on Dec. 15, 2023. Despite the loss, BONK is still the third largest meme coin asset by market capitalization under DOGE and SHIB, and its overall valuation to

Major asset managers, including Blackrock, Fidelity, Bitwise, and Wisdomtree, submitted their revised spot bitcoin exchange-traded fund (ETF) filings shortly before the deadline set by the U.S. Securities and Exchange Commission (SEC) on Friday afternoon. The securities regulator reportedly wants authorized participants named in the filings. The Race Is on for Spot Bitcoin ETFs Spot bitcoin exchange-traded fund (ETF) applicants rushed to meet the U.S. Securities and Exchange Commission (SEC)’s deadline for registration statement (S-1) updates on Friday. The securities regulator reportedly told them to update their filings by Friday to be included in the first wave of spot bitcoin ETF decisions in early January. Major asset managers, including Blackrock, Vaneck, Valkyrie, Bitwise, Invesco/Galaxy, Fidelity, Wisdomtree, and the Ark Investments and 21shares joint filing, submitted updated documents to the securities regulator Friday afternoon. According to reports, the SEC wants auth

In recent years, attention has centered on bitcoin mining, particularly its energy usage in securing the network and validating transactions through proof-of-work (PoW). As generative artificial intelligence (AI) emerges as a major force in technology, it’s encountering similar environmental concerns. Moreover, advocates of bitcoin are drawing parallels between the criticisms of AI’s energy demands and those directed at cryptocurrency mining. Eco-Impact of AI: Facing the Environmental Challenges of Innovation Although AI has generally received acclaim in the press, its consumption of electricity and water has recently sparked considerable debate. Numerous online articles decry the significant resources AI utilizes, including a Rolling Stone piece alleging that “Microsoft’s global water consumption spiked in a year to nearly 1.7 billion gallons.” The article oversimplifies the intricate issue by comparing AI’s water usage to that of 2,500 Olympic-sized swimming pools. The digital

Argentina’s President Javier Milei has sent a massive new bill to Congress to adopt a scheme of regulations to advance his goal of modernizing the Argentine state. If approved, the bill would allow Milei to legislate by executive order on certain emergency areas and privatize state companies, among other aspects. Javier Milei Proposes Omnibus Bill to Obtain Legislative Faculties Argentina’s President Javier Milei has continued pressing on in his transformative goals for the country. The so-called libertarian has sent a massive omnibus bill to Congress, which touches on or modifies 20 laws. The bill, titled “Law of Bases and Starting Points for the Freedom of Argentines,” seeks to continue with the ostensibly libertarian reform of the Argentine state, touching on subjects like personal taxes, import laws, justice administration, education, and others. Also, the bill calls for declaring a national emergency in several fields, including finance, economy, financial, fiscal, pensions,

In a candid evaluation of the current state of Web3, Ethereum co-founder Vitalik Buterin laments the fading vision of a decentralized internet. Buterin emphasizes the stifling effect of rising crypto transaction fees on innovation and broad-based usage of cryptocurrency. He points out the shift towards centralized solutions and the dominance of high-stake players, expressing concern over the changing landscape and culture within the crypto community. From Decentralization to ‘Degen’ Domination: Buterin Reflects on Web3’s Path Vitalik Buterin , the influential co-founder of Ethereum, has recently voiced concerns over the evolving dynamics of the Web3 environment. According to Buterin, the dream of a decentralized internet is being overshadowed by the harsh reality of escalating transaction fees on blockchain networks. These fees are creating a barrier to entry, inhibiting innovations and the widespread adoption of crypto as a means of transaction and saving. Buterin said: The nu

In light of the ongoing dialogue around Binance’s removal of privacy coins, the cryptocurrency exchange Okx has declared the removal of various spot trading pairs linked to privacy tokens such as monero, zcash, and dash. Okx attributes its decision to remove these offerings to “feedback from users” along with the exchange’s established guidelines for delisting. Privacy Tokens Take a Hit: Okx Joins Binance in Major Delisting Wave Once more, privacy coins face removals as regulatory and compliance requirements intensified significantly throughout 2023. Okx revealed the removal of 20 trading pairs, set to cease operation after Jan. 5, 2024. Two days prior on Dec. 27, Okx halted deposits for ZEN, XMR , CAPO, DASH , FSN, CVP, ZKS, and ZEC. The suspension of withdrawals for these coins is slated for March 5, 2024. “In order to maintain a robust spot trading environment, we constantly monitor the performance of all listed trading pairs and review their listing qualifications on a regular

An analysis by crypto intelligence firm Arkham indicates that Donald Trump, the 45th President of the United States, is selling millions of dollars in ether acquired from selling his non-fungible token (NFT) collections. The analytics firm also revealed that Trump’s highest crypto balance reached $4 million. Based on deposit analysis to date, the former U.S. president has sold 1,325 ETH , totaling over $3 million. Donald Trump Selling Ether, Analysis Suggests Crypto intelligence firm Arkham shared an analysis on social media platform X on Thursday, revealing the amount of ether former U.S. President Donald Trump appears to have sold. “Looks like Donald Trump is selling his ETH ,” the firm wrote, adding that three weeks ago, the former U.S. president started sending his cryptocurrencies to Coinbase after months of accumulating from the sale of non-fungible tokens (NFTs). “His peak balance was $4 million,” the firm added, noting that based on the deposits, Trump has sold 1,075 ETH

Elon Musk, the chairman of X, has referred to non-fungible tokens (NFTs) and the defects of their implementation, indirectly making the case for inscriptions. Answering a post on X on the topic of NFTs, Musk suggested saving the jpeg (an image format) of the NFT on the blockchain, like inscriptions are currently saved on Bitcoin. Elon Musk Indirectly Nods at Ordinal Inscriptions Elon Musk has given indirect support to Ordinal inscriptions, a series of images and other data saved on the BTC blockchain. In an X post commenting on the issue of non-fungible token (NFT) data, and how it can be linked to content not owned by the issuers, that can be removed, Musk declared : Yeah, at least encode the jpeg on the blockchain! Musk’s complaints about how standard NFTs work are not new. On the Joe Rogan Experience podcast, Musk stated : The funny thing is the NFT is not even on the blockchain — it’s just a URL to the JPEG. As Musk explained, earlier NFT implementations featured a link

In a significant shift within the bitcoin mining landscape, Antpool’s resurgence in 2023 has marked a notable trend in the consolidation of bitcoin rewards, surpassing Foundry USA in blocks mined. The Miner Mag’s recent analysis reveals that Antpool, along with other major pools, has centralized coinbase block rewards, reflecting a deeper, more interconnected mining ecosystem. This consolidation hints at unknown and strategic financial arrangements and evolving power dynamics among leading mining pools. Report Highlights Rising Consolidation in Bitcoin Mining Pool Rewards According to The Miner Mag , ten of the fifteen largest mining pools have been merging their coinbase block rewards since early 2022. This trend includes prominent names like Binance Pool, BTC .com, and Braiins Pool, among others. These pools, initially launched as independent operators, are now regularly sending their block rewards to shared output addresses, indicating a shift towards cooperative, strategic oper

Statistics reveal that the Ethereum layer two (L2) platform Blast now secures over $1 billion within its protocol. The total value locked (TVL) in Blast has expanded more than twelvefold since its launch in late November. Blast’s TVL Hits $1 Billion Initially, on Nov. 22, 2023, Blast’s value locked was recorded at $89.59 million, but as of today, it has surged to $1.135 billion . Currently, Blast ranks as the 17th largest decentralized finance (defi) protocol in terms of TVL, nestled between Juststables and Marinade Finance, according to data collected by defillama.com . The platform is distinguished by its native staking and strategies to amplify yield through ether ( ETH ) staking and real-world assets (RWAs). Pacman, the creator behind the non-fungible token (NFT) marketplace Blur, is credited with building Blast. Blast received a boost through investments from Paradigm and Standard Crypto, yet an executive from Paradigm remarked that the Blast debut “crossed lines” concernin

In a recent statement by Sergey Lavrov, Russia’s Foreign Affairs Minister, he noted that the BRICS bloc is set to expand in 2024 with new members including the United Arab Emirates (UAE), Iran, and Saudi Arabia. He revealed that approximately “30 countries would like to establish partner ties with BRICS.” Additionally, as November drew to a close, China and Saudi Arabia forged a currency swap agreement valued at 50 billion yuan ($6.93 billion), which some interpret as Xi Jinping’s move to contest the supremacy of the U.S. dollar. Lavrov: ‘30 Nations Aspire to Collaborate With BRICS’ This year, the BRICS bloc, consisting of Brazil, Russia, India, China, and South Africa, garnered significant attention as an intergovernmental organization. During the 15th BRICS summit in Johannesburg, South Africa, the world observed as the alliance extended invitations to join the bloc to the UAE, Saudi Arabia, Argentina, Egypt, Ethiopia, and Iran. According to Russia’s TASS news agency, Lavrov ann

Over the past year, bitcoin surged by 153%, with numerous other digital currencies also seeing substantial increases. Yet, assessing the top cryptocurrencies in relation to bitcoin’s performance, the annual shifts present a distinctly varied perspective. 2023 Sees Altcoins Lag Behind Bitcoin’s Rally Despite Overall Market Boom The landscape of top cryptocurrencies has evolved significantly since December 2022 , with the overall market value of the crypto economy soaring from $811 billion to $1.68 trillion, marking an impressive increase of over $909 billion . During this period, while ethereum has witnessed a 95% surge this year, its value compared to BTC has diminished. Specifically, ETH decreased from 0.07237 BTC to 0.05432 BTC , translating to a loss exceeding 24% against bitcoin, the premier cryptocurrency by market capitalization. Ethereum wasn’t the only digital currency to experience a decline relative to BTC . Binance coin ( BNB ) also saw a substantial reduction, falli

Recent statistics reveal that in the last week, decentralized exchange (dex) platforms built on Solana have surpassed Ethereum in market performance. Data indicates that Solana-based dex platforms achieved a volume of $1.447 billion in the past day, overshadowing the $1.282 billion recorded by Ethereum trading platforms. Solana Surges Past Ethereum in Dex Volume Solana’s recent price surge, coupled with a multitude of airdrops, has propelled the layer one (L1) blockchain’s dex volumes to new heights. Conversely, trade volume for solana (SOL) on centralized exchanges lags behind that of Ethereum. Data from Deflllama.com confirms that both the 24-hour and weekly dex volumes for Solana have exceeded those of Ethereum. Recent data shows Solana platforms’ daily dex volumes have surged to $1.447 billion, marking a 12.87% increase over Ethereum dex applications’ $1.282 billion. Over the past seven days, Solana’s decentralized exchanges have amassed $10.786 billion, overtaking Ethereum’s

PRESS RELEASE. Vilnius, December 27th 2023 – Bit.Store, a web3 crypto card issuing infrastructure, is thrilled to announce its latest venture – the launch of Bit.Store on the Binance Mini Program. This strategic move marks a significant milestone in Bit.Store’s mission to simplify cryptocurrency usage for the masses. A Seamless Integration for Enhanced User Experience The integration of Bit.Store into the Binance Mini Program platform exemplifies a fusion of convenience and innovation. By joining one of the world’s leading cryptocurrency ecosystems, Bit.Store is set to offer a more streamlined, efficient, and user-friendly experience in managing and spending digital assets. What Bit.Store on Binance Mini Program Offers Easy Access : Users can now effortlessly navigate to Bit.Store’s services within the Binance environment. Enhanced Functionality : The Mini Program version of Bit.Store retains all the robust features of its standalone application, including the ability to apply

Three days ago, on Dec. 23, 2023, Bitcoin marked its 27th and final difficulty adjustment for the year. This year witnessed 27 shifts in epochs, with the most substantial one on Jan. 15 at block 772,128, seeing a surge in network difficulty by 10.26%. Bitcoin’s Year: 20 Ups, 7 Downs Total 74% Difficulty Surge By Jan. 4, 2024, it’s anticipated that Bitcoin will undergo another uptick in mining difficulty . This metric, changing every 2,016 blocks or roughly two weeks, maintains the average interval between blocks at approximately 10 minutes. It does so regardless of the fluctuating mining power within the network. This mechanism stabilizes the issuance rate of new bitcoins, enhancing network security by making block discoveries more challenging as the hashrate either increases or decreases. Throughout 2023, the network experienced a total of 27 difficulty changes , comprising 20 increases and seven decreases. The most notable hike was on Jan. 15, rocketing by 10.26%. Conversely, th