Author: Maisie Morrison

TLDR Ethereum user mistakenly pays $89,200 in fees for a $2,262 transfer The transaction occurred when network fees were at yearly lows Similar costly errors have happened before in the crypto space Some experts suggest such transactions could potentially be used for money laundering The incident highlights the need for careful handling of cryptocurrency transactions An Ethereum user accidentally paid an enormous fee for a routine transaction. The user spent 34.26 ETH (approximately $89,200) in gas fees to transfer just 0.87 ETH (about $2,262). This information was shared on social media platform X by user DeFiac, sparking discussions across the…

TLDR BitGo is transferring control of Wrapped Bitcoin (WBTC) to a joint venture with BiT Global. The move involves diversifying WBTC custodial locations to include Singapore and Hong Kong. Justin Sun’s involvement in the venture has sparked concerns in the crypto community. BitGo CEO and Justin Sun both assert that WBTC’s security remains unchanged. MakerDAO is considering a proposal to limit its exposure to WBTC due to these changes. BitGo, a leading cryptocurrency custody platform, has announced a significant change in its management of Wrapped Bitcoin (WBTC). The company plans to transfer control of WBTC to a new joint venture…

TLDR Bitcoin’s value dropped to around $58,500, a 4.8% decrease in 24 hours The overall cryptocurrency market experienced a decline over the weekend Bitcoin and Ethereum ETFs saw outflows on Friday Several important economic reports are scheduled for release this week Some experts predict potential further market adjustments in the near future The cryptocurrency market experienced a notable decline over the weekend, with Bitcoin (BTC) leading the downward trend. As of Monday, August 12, 2024, Bitcoin was trading at approximately $58,500, marking a 4.8% decrease in the past 24 hours, according to CoinDesk Indices data. This downturn wasn’t isolated to…

TLDR Ethereum transaction costs have fallen to 1.9 gwei, the lowest since 2019 Layer-2 networks like Base are processing significantly more transactions than Ethereum’s main chain Daily ETH burn rate has decreased to 210 tokens, a 2024 low Some experts express concern about the sustainability of Ethereum staking rewards Ethereum’s recent Dencun upgrade aimed to reduce costs for layer-2 networks Ethereum has seen its transaction fees drop to levels not witnessed in half a decade. As of August 10, 2024, the median gas price – the cost to process a transaction on the Ethereum network – fell to just 1.9…

TLDR Bank of Japan (BOJ) raised rates to 0.25% in July 2024, ending a decade-long zero-rate policy The rate hike caused significant volatility in global markets, including cryptocurrencies Former BOJ official Makoto Sakurai predicts no further rate increases in 2024 BOJ Deputy Governor Shinichi Uchida emphasized the importance of market stability The decision has drawn criticism from Japan’s opposition party, prompting a parliamentary review The Bank of Japan (BOJ) raised its benchmark interest rate to 0.25% on July 31, 2024. This marked the first increase in over a decade, ending Japan’s long-standing zero interest rate policy. The decision, while anticipated…

TLDR Kamala Harris leads Donald Trump in crypto prediction market Polymarket for US presidential election Experts discuss the resilience of prediction markets against manipulation attempts CFTC proposes new regulations for prediction markets, drawing industry criticism Dragonfly and Crypto.com argue CFTC’s proposed rules may exceed its authority Debate continues over the economic and informational value of prediction markets Recent data from the crypto prediction market platform Polymarket indicates a shift in the odds for the upcoming US presidential election. Current figures show 52% of market participants favoring Kamala Harris as the likely winner, compared to 45% for Donald Trump. This represents…

TLDR Solana (SOL) price rebounds from $109 to $145, showing a 33% recovery SOL faces immediate resistance at $155, with further hurdles at $165.4 and $175.6 Recent price action invalidated a potential double-bottom pattern Key support levels established at $140, $120, and $110 Market sentiment remains mixed as SOL attempts to regain previous highs Solana (SOL) has demonstrated resilience following a period of significant downturn. After touching a low of $109, SOL has managed to climb back to the $145 range, marking a recovery of approximately 33%. This rebound comes on the heels of a broader market correction that saw…

TLDR Video game actors began a strike on July 26, 2024 due to failed contract negotiations with game publishers. The main dispute is over AI protections for different types of performers in video games. The strike affects major companies like Activision, EA, Epic Games, and Warner Bros. Games. Both sides say they’re open to resuming talks, but disagree on the scope of AI protections needed. This follows a previous 11-month video game actor strike in 2016-2017. The video game industry is facing a new challenge as actors represented by SAG-AFTRA began a strike on July 26, 2024. The work stoppage…

TLDR Semler Scientific purchased 929 bitcoins for $63 million as part of its new treasury strategy The company’s Q2 2024 revenue was $14.5 million, down from $18.6 million in Q2 2023 Net income dropped to $11,000 in Q2 2024, compared to $5.9 million in Q2 2023 The fair value of Semler’s bitcoin holdings decreased by $5.1 million in Q2 Semler plans to continue buying bitcoin using operational cash flow and potential security sales Semler Scientific, a healthcare technology provider, has released its financial results for the second quarter of 2024, highlighting both its core business performance and its new bitcoin…

TLDR TON blockchain gaming has grown from 1% to 20% of Telegram users in less than a year. Hamster Kombat is preparing for a major token airdrop, claiming over 300 million users. New “mid-core” games are expected to drive future growth on TON and Telegram. Concerns about bot activity and sustainable monetization models persist in TON gaming. Hamster Kombat recently added three new mini-games to its platform. The gaming ecosystem on The Open Network (TON) blockchain has experienced unprecedented growth in 2024, with Telegram serving as a major gateway for new users. Inal Kardan, TON Foundation’s Gaming Lead, reports that…

TLDR Lawmakers from the Democratic party are pushing for a CFTC crackdown on election gambling Polymarket’s election-related betting volume reached all-time highs following recent political events Critics argue election betting could shift voter motivations from political convictions to financial interests The CFTC previously disapproved a proposal to legalize gambling on US election outcomes Concerns include potential exploitation by wealthy individuals and those with insider information A group of Democratic lawmakers is urging the Commodity Futures Trading Commission (CFTC) to take decisive action against betting on US elections. This call comes as cryptocurrency-based prediction markets report record-breaking volumes related to the…

TLDR Trump appeared on Adin Ross’s Kick livestream, drawing over 580,000 viewers The former president voiced strong support for cryptocurrency innovation Ross presented Trump with a Rolex watch and a custom Tesla Cybertruck Trump briefly addressed the legal situation of rapper Young Thug The stream covered topics ranging from Bitcoin to foreign leaders Former President Donald Trump made waves during a recent appearance on Adin Ross’s Kick livestream. The August 5, 2024 stream, which peaked at over 580,000 viewers, saw Trump doubling down on his pro-crypto stance while engaging with a younger audience. Trump emphasized the importance of the United…

TLDR W-Coin is a Telegram-based tap-to-earn game that claims over 16 million users in about 3 months. The game features daily boosters, permanent upgrades, and a unique staking system. Players can vote on whether the W-Coin token will launch on Ethereum, Solana, or TON. W-Coin is competing with other popular Telegram games like TapSwap and Notcoin. An airdrop is expected, but details and dates have not been announced yet. The tap-to-earn craze on Telegram has a new contender in W-Coin, a game that has reportedly attracted over 16 million users in just three months. This rapid growth places W-Coin among…

TLDR Atari’s “on-chain” Asteroids game on Base network faces security challenge Developer claims to have manipulated game leaderboard without playing Concerns raised about the true blockchain integration of the game Incident highlights need for verifiable on-chain gaming mechanics Discussion sparked about standards for blockchain-based games Atari’s recent venture into blockchain gaming has hit a snag as a developer claims to have exposed security flaws in their “on-chain” Asteroids game. The game, launched on July 25 on Coinbase’s Ethereum layer-2 network Base, aimed to bring the classic arcade experience to the blockchain world. Kautuk Kundan, CEO of Stackr Labs, reported on…

TLDR Vitalik Buterin predicts rapid progress in solving cross-L2 interoperability issues EIP-7683 aims to standardize communication between different Ethereum L2 networks Buterin suggests all rollups will transition to zero-knowledge technology in the long term New address standards and off-chain data access methods are part of the proposed improvements The Ethereum community is showing strong interest in enhancing L2 interoperability Ethereum co-founder Vitalik Buterin has shared his thoughts on the future of layer-2 (L2) networks, predicting rapid progress in solving cross-chain interoperability issues. In recent social media posts, Buterin expressed confidence that users will soon experience a seamless experience across the…