With the Hong Kong Stock Exchange being the only regulated exchange in Asia offering Bitcoin futures ETFs, some believe spot crypto ETF products will soon be allowed.
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Cardano ecosystem set to expand with custom-built sidechains
Input Output Global (IOG) — the team behind the Cardano ecosystem — will release a software toolkit in late Jan. 2023 that will enable developers to deploy custom-built sidechains on Cardano aimed at improving the ecosystem.
The news was announced by IOHK — a blockchain engineering company founded by Charles Hoskinson and now known as IOG — on Jan.12, which also attached the official technical documentation for the sidechain toolkit.
IOG developers have already used the toolkit to construct an Ethereum Virtual Machine (EVM)-compatible sidechain public testnet as a “proof of concept,” and when the audit is complete, anyone will be able to deploy decentralized applications, create smart contracts and move tokens between different testing chains.
The toolkit will also enable the creators of the sidechains to choose their own consensus mechanism in addition to other application-specific features.
A diagram of how value and data will be transferred between the Cardano main chain and custom-built sidechains. Source: Cardano.org.A sidechain is an independent blockchain that works adjacent to the parent blockchain, often referred to as the mainnet. Sidechains often attempt to add scalability to the mainnet which often prioritizes decentralization and security.
Cardano ecosystem set to expand with custom-built sidechains
The toolkit will allow for creators of sidechains to choose their own consensus mechanism and other application-specific features, whilst inheriting the security of the main chain.
800 victims of 'massive' Bitconnect fraud to receive $17M restitution
The millions will be distributed among the select number of victims, but thousands more were impacted by the $2.4 billion fraudulent scheme.
Crypto exchange WonderFi confirms merger talks with Coinsquare
The exchanges are yet to finalize a potential merger, with WonderFi releasing a public statement in response to market speculation and a surging share price.
Major media outlets demand identities of SBF's $250M bond guarantors
The media’s lawyers argued the public’s right to know Bankman-Fried's sureties outweighed their privacy and safety rights, but Bankman-Fried’s lawyers strongly disagreed.
Winklevoss hits back against 'super lame... manufactured parking ticket'
Tyler Winklevoss hit back at the SEC charging Gemini in a series of tweets on Jan. 12 calling the action "totally counterproductive."
Here's how to quickly spot a deepfake crypto scam — cybersecurity execs
Crypto investors have been urged to keep their eyes peeled for "deepfake" crypto scams to come, with the digital-doppelganger technology continuing to advance, making it harder for viewers to separate fact from fiction.
David Schwed, the COO of blockchain security firm Halborn told Cointelegraph that the crypto industry is more “susceptible” to deepfakes than ever because “time is of the essence in making decisions” which results in less time to verify the veracity of a video.
Cast your vote now!Deepfakes use deep learning artificial intelligence (AI) to create highly realistic digital content by manipulating and altering original media, such as swapping faces in videos, photos, and audio, according to technical writer at OpenZeppelin Vlad Estoup.
Estoup noted that crypto scammers often use deepfake technology to creat fake videos of well-known personalities to execute scams.
An example of such a scam was a deepfake video of FTX former CEO Sam Bankman-Fried in November 2022, where scammers used old interview footage of Bankman-Fried and a voice emulator to direct users to a malicious website promising to “double your cryptocurrency.”
Here's how to quickly spot a deepfake crypto scam — cybersecurity execs
The fast-paced nature of the crypto markets means investors are under massive pressure to quickly verify whether a video message is authentic or not.
Here's how to quickly spot a deepfake crypto scam — cybersecurity execs
The fast-paced nature of the crypto markets means investors are under massive pressure to quickly verify whether a video message is authentic or not.
Here's how to quickly spot a deepfake crypto scam — cybersecurity execs
The fast-paced nature of the crypto markets means investors are under massive pressure to quickly verify whether a video message is authentic or not.
Cryptocurrency is headed toward surviving its first age
Despite the downbeat market, blockchain-based tech — from the internet of things to the metaverse — is primed to represent trillions in new value by 2030.
Huobi employees revolt, GameFi lives, Antminer on steroids: Asia Express
Our weekly roundup of news from East Asia curates the industry’s most important developments.
Huobi’s disgruntled employees
According to local media reports, cryptocurrency exchange Huobi Global has terminated all year-end employee bonuses and benefits, as well as axed its entire core development staff located in mainland China. The laid-off staff will be instead switched to “advisory contracts” that do not receive protection under Chinese labor laws. Employees also claim that their leftover paid vacation days and sick leave days for 2022 were set to zero without prior notification.
Moreover, executives allegedly imposed a messaging ban on all major Huobi employee chat groups. In response, employees reported formed a 400-member strong “rights maintenance group” and have since sought the advice of counsel in the labor dispute. One employee reportedly wrote:
“I love my company and my job; at the same time, I support all decisions that benefit the company, and I know that with economies recessionary everywhere in the globe, Huobi management staff must tighten their belts, and I can understand the lack of year-end bonuses. That said, I cannot accept the unreasonable swap of employment contracts. I will fight this to the end.”
However, it appears that employees still received the short end of the stick. On Jan. 6, Cointelegraph reported that Huobi laid off 20% of its workforce while denying insolvency rumors. But at the time of publication, sources say that the exchange is operating at a loss of $10 million per month.
Huobi employees revolt, GameFi lives, Antminer on steroids: Asia Express
Our weekly roundup of news from East Asia curates the industry’s most important developments.
Huobi’s disgruntled employees
According to local media reports, cryptocurrency exchange Huobi Global has terminated all year-end employee bonuses and benefits, as well as axed its entire core development staff located in mainland China. The laid-off staff will be instead switched to “advisory contracts” that do not receive protection under Chinese labor laws. Employees also claim that their leftover paid vacation days and sick leave days for 2022 were set to zero without prior notification.
Moreover, executives allegedly imposed a messaging ban on all major Huobi employee chat groups. In response, employees reported formed a 400-member strong “rights maintenance group” and have since sought the advice of counsel in the labor dispute. One employee reportedly wrote:
“I love my company and my job; at the same time, I support all decisions that benefit the company, and I know that with economies recessionary everywhere in the globe, Huobi management staff must tighten their belts, and I can understand the lack of year-end bonuses. That said, I cannot accept the unreasonable swap of employment contracts. I will fight this to the end.”
However, it appears that employees still received the short end of the stick. On Jan. 6, Cointelegraph reported that Huobi laid off 20% of its workforce while denying insolvency rumors. But at the time of publication, sources say that the exchange is operating at a loss of $10 million per month.
Huobi employees revolt, GameFi lives, Antminer on steroids: Asia Express
Our weekly roundup of news from East Asia curates the industry’s most important developments.
Huobi’s disgruntled employees
According to local media reports, cryptocurrency exchange Huobi Global has terminated all year-end employee bonuses and benefits, as well as axed its entire core development staff located in mainland China. The laid-off staff will be instead switched to “advisory contracts” that do not receive protection under Chinese labor laws. Employees also claim that their leftover paid vacation days and sick leave days for 2022 were set to zero without prior notification.
Moreover, executives allegedly imposed a messaging ban on all major Huobi employee chat groups. In response, employees reported formed a 400-member strong “rights maintenance group” and have since sought the advice of counsel in the labor dispute. One employee reportedly wrote:
“I love my company and my job; at the same time, I support all decisions that benefit the company, and I know that with economies recessionary everywhere in the globe, Huobi management staff must tighten their belts, and I can understand the lack of year-end bonuses. That said, I cannot accept the unreasonable swap of employment contracts. I will fight this to the end.”
However, it appears that employees still received the short end of the stick. On Jan. 6, Cointelegraph reported that Huobi laid off 20% of its workforce while denying insolvency rumors. But at the time of publication, sources say that the exchange is operating at a loss of $10 million per month.