The crypto exchange said it temporarily closed BTC withdrawals due to a "large volume of pending transactions."
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Hong Kong to step in as ‘options are dwindling’ globally — FinTech chair
Neil Tan, Chair of the FinTech Association of Hong Kong, said the opening of the financial industry to digital assets was “just a natural progression."
You can now create a shitcoin in less than 23 seconds
As so-called “memecoins” capture the attention of the wider crypto industry in recent weeks, a viral video has emerged detailing just how easy it is for anyone with an internet connection to create a brand new cryptocurrency from scratch.
A May 6 video from digital artist Johnny Shankman — who goes by @whitelights.eth on Twitter — shows him completing a “speedrun” of creating and deploying an entirely new token, humorously dubbed “EASY_MONEY” in just 27 seconds. The record was then beaten just a day later, clocking in at 22.45 seconds.
The term "speed run" originates from the gaming community and is typically used in reference to completing a game, or level in a game, as quickly as possible.
In the now-viral video, Shankman shows how any user can quickly create a new token by utilizing a program called Contracts Wizard, created by the crypto cybersecurity firm OpenZeppelin. The Contacts Wizard tool generates code for an ERC-20 token with a few quick clicks of a cursor. On the program, users can select a number of potential features for their token.
After the code has been created, Shankman then uses an application called Remix, which compiles the token’s smart contract and deploys it on a given blockchain network. In the video, Shankman opts for deploying his EASY_MONEY (EZ) token on the Ethereum testnet.
You can now create a shitcoin in less than 23 seconds
A new "speedrun" video shows how anyone can create a brand new cryptocurrency in less than 30 seconds.
5 cryptocurrencies with the best upside potential in the week ahead
Bitcoin and Ethereum's ETH are finding buyers at lower levels, which may be a bullish sign for XMR, OKB and RPL.
Binance closes BTC withdrawals amid congestion on the Bitcoin network
Bitcoin mempool was clogged with over 400,000 transactions waiting to be processed on May 7.
What is a Wells notice, explained
A Wells notice is a letter from the SEC indicating possible enforcement action against a person or a firm.
The Ethereum Foundation just sold $30M in Ether — But will ETH price fall this time?
Ethereum Foundation's previous big sale of ETH preceded a bear market, but there's little evidence that such sales affect the general market trend.
The Ethereum Foundation just sold $30M in Ether — But will ETH price fall this time?
On May 6, Ethereum Foundation transferred nearly $30 million in Ether (ETH) to the Kraken cryptocurrency exchange, causing jitters in the market about a potential selloff event.
ETH price fell 4.8% to $1,900 on the day, but the decline has been negligible so far amid a wider recovery trend.
ETH price holding key support
Ether's price recovered modestly to $1,920 on May 7 after testing its 50-day exponential moving average (50-day EMA; the red wave) near $1,850 as support a day ago.
Moreover, the price volatility dropped on Kraken in the said period, per the contracting Bollinger Bands Width in the chart below. That further shows traders' calm amid the Ethereum Foundation transfer.
Notably, the 50-day EMA has capped Ether's downside attempts so far in 2023, barring the early March selloff that saw the price briefly falling below the red wave. Meanwhile, testing it as support has prompted the ETH price to pursue a breakout above $2,000.
Deloitte integrates blockchain for digital credentials
The credential wallet will be provided as a browser extension and customers will be able to set it up without any prior knowledge of blockchain.
Stripe tackles 'cold start problem' with the launch of fiat-to-crypto onramp
Web3 companies can utilize the Stripe-hosted fiat-to-crypto onramp to allow their customers to buy crypto at the “precise moment they need it.”
Memecoin sends BTC fees to the moon, miner profits top $50B and more: Hodler’s Digest, April 30-May 6
Memecoin hype fuels Bitcoin transaction costs, BTC miners block rewards surpass $50 billion and AI’s “Godfather” warns of technology dangers.
Memecoin sends BTC fees to the moon, miner profits top $50B and more: Hodler’s Digest, April 30-May 6
Memecoin hype fuels Bitcoin transaction costs, BTC miners block rewards surpass $50 billion and AI’s “Godfather” warns of technology dangers.
Memecoin sends BTC fees to the moon, miner profits top $50B and more: Hodler’s Digest, April 30-May 6
Memecoin hype fuels Bitcoin transaction costs, BTC miners block rewards surpass $50 billion and AI’s “Godfather” warns of technology dangers.
Memecoin sends BTC fees to the moon, miner profits top $50B and more: Hodler’s Digest, April 30-May 6
Memecoin hype fuels Bitcoin transaction costs, BTC miners block rewards surpass $50 billion and AI’s “Godfather” warns of technology dangers.
Memecoin sends BTC fees to the moon, miner profits top $50B and more: Hodler’s Digest, April 30-May 6
Memecoin hype fuels Bitcoin transaction costs, BTC miners block rewards surpass $50 billion and AI’s “Godfather” warns of technology dangers.
Memecoin sends BTC fees to the moon, miner profits top $50B and more: Hodler’s Digest, April 30-May 6
Memecoin hype fuels Bitcoin transaction costs, BTC miners block rewards surpass $50 billion and AI’s “Godfather” warns of technology dangers.
Memecoin sends BTC fees to the moon, miner profits top $50B and more: Hodler’s Digest, April 30-May 6
Top Stories This Week
Memecoin hype drives Bitcoin transaction fees to multi-year highs
The ongoing trading frenzy of memecoins like Pepe has triggered an unwanted consequence for Bitcoin (BTC) — raising its transaction costs to their highest point in two years. On May 3, the total amount of fees paid on the Bitcoin blockchain reached $3.5 million, jumping about 400% from late April. Bitcoin’s BRC-20 token standard has become the latest trend in the crypto ecosystem amid the rise of memecoins. A total of 8,500 different tokens have been minted using the BRC-20 standard. Gas fees on the Ethereum blockchain have also recently been skyrocketing to new multi-month highs.
Bitcoin miners earned $50B from BTC block rewards, fees since 2010
Amid an ongoing debate over miner costs and susceptibility to Bitcoin price dips, new figures suggest that miners are firmly in the black in the long term. Calculations from on-chain analytics firm Glassnode suggest that since 2010, fees and block reward subsidies have netted miners billions. Miners’ total all-time income is almost 40% higher than their estimated costs, coming in at $50.2 billion versus $36.6 billion, respectively.
Artificial intelligence pioneer and former Google employee Dr. Geoffrey Hinton shared his concerns about the technology that he helped develop over the past several years. According to the neural networks expert, AI could pose a threat to humanity in the future as it learns unexpected behaviors from the massive amounts of data it analyzes. He is also concerned at the continuing AI arms race to develop lethal autonomous weapons systems, as well as an increased number of fake photos, videos and text flooding the internet.
A wild Bitcoin price wager between former Coinbase chief technology officer Balaji Srinivasan and pseudonymous Twitter user James Medlock has been settled 45 days ahead of time for $1.5 million. Medlock offered to bet anyone $1 million that the United States would not experience hyperinflation on March 17. The ex-Coinbase executive accepted the bet, predicting the U.S. dollar would deflate due to inflation and, as a result, BTC would reach $1 million within 90 days. In the deal, Medlock netted $500,000, while another $1 million went to two organizations.
Microsoft axes Bing wait list, giving users free access to GPT-4
Microsoft recently announced a number of new AI-powered features for its Bing chatbot and Edge web browser, including full access to the GPT-4 model — the same underlying engine that powers the ChatGPT Plus subscription service. The new features won’t require any purchases or subscriptions, though users will need a free Microsoft account to take advantage of the Bing chatbot’s full suite of functions. By contrast, OpenAI’s ChatGPT Plus service costs $20 per month for access to the same GPT-4 model.
Kazakhstan collected $7M in crypto mining taxes in 2022
Crypto miners paid millions of dollars in energy fees last year following the regulation of the fiscal burden of mining activities.
Kazakhstan collected $7M in crypto mining taxes in 2022
Crypto miners paid millions of dollars in energy fees last year following the regulation of the fiscal burden of mining activities.