Altcoin News by Thebittimes.Com

Worldcoin is 994 million users away from its goal of onboarding one billion people by 2023 and will need to scan an estimated 2,734 people each day to hit this figure by 2026.   Worldcoin announced yesterday, July 10th, that it has verified 6 million users since its launch in July 2023. However, in October 2021, numerous outlets reported that Worldcoin had aimed to onboard one billion users by the end of 2023. It’s now July 2024. Semafor reported last April that Worldcoin was suffering an orb shortage and that it has between 300 and 500 orbs in use. Worldcoin was founded by OpenAI’s Sam Altman and is owned by Tools for Humanity. Image sourced from Semafor. Assuming it has 500 orbs in operation, Worldcoin would have to scan the eyes of 2,740 people per day to reach one billion users in two years . Taking into account the already onboarded 6 million users, 500 orbs would need to scan 2,734 people per day.  Worldcoin claims it has manufactured 2,0...

Cryptocurrency traders lost $300 million from leveraged short and long position liquidations in the last 24 hours . The liquidation apex occurred amid significant volatility as explosions echoed in Iran under the suspicion of an attack by Israel. Geopolitical tensions have again brought damaging volatility to the cryptocurrency market a week after Iran’s unprecedented offensive against Israel. On that occasion, crypto traders registered nearly $2 billion in 48 hours of liquidations, mostly from long positions. Now, 90,133 traders have lost $291.12 million in 24 hours, with Bitcoin (BTC) leading with $107.44 million. Finbold retrieved the liquidation data from CoinGlass a few hours after the attack. Picks for you JPMorgan CEO breaks his vow on Bitcoin, labels BTC ‘decentralized Ponzi Scheme’ 4 mins ago US economist slams Bitcoin’s status as a safe haven amid geopolitical chaos 8 mins ago AI predicts SHIB price for May 1, 2024 36 mins ago R. Kiyosa...

IOTA continues strategic expansion with first DLT Foundation in the UAE’ The IOTA Foundation will allocate $100 million to the initiative. IOTA price was rallying after the news, up 50% at the time of writing. IOTA’s strategic expansion has reached another milestone with the registration of the first DLT foundation in the United Arab Emirates (UAE). The IOTA Foundation first announced plans for the foundation in September, highlighting registration with the Abu Dhabi Global as a step that would aid IOTA’s expansion in the Middle East and North Africa (MENA) region. The news came as the IOTA price spiked more than 50% to above $0.26. IOTA Foundation allocates $100 million to initiative Per today’s announcement , an investment of over $100 million has been allocated for the DLT Foundation, with the funding done in IOTA tokens. These will be vested over the next four years as the foundation looks to nurture innovation and adoption of ...

In March 2022, the co-founder of 3AC , a prominent figure in the world of cryptocurrency, made an intriguing move. He acquired an opulent bungalow nestled in the heart of Singapore, just moments before the unfortunate collapse of his hedge fund. The narrative takes a fascinating turn as we delve into the realm of Su Zhu, a crypto tycoon who was simultaneously a fugitive. His luxurious $36 million real estate investment in Singapore, once a symbol of opulence, has undergone a remarkable transformation. The property, situated in the upscale enclave of Yarwood Avenue, has now emerged as “Yarwood Homestead,” a project managed by Abundant Cities—a company co-founded by Su Zhu’s wife, Evelyn Tao. What makes this transformation truly captivating is the eco-conscious direction taken by Abundant Cities. Through the principles of ecological design and agroecology, they have converted the mansion ’s sprawling gardens into a flourishing micro-farm. Here, an assortment of ...

Sam Bankman-Fried told author Michael Lewis that Binance founder Changpeng Zhao (CZ) is ”a douche” for refusing to invest $40 million in his plan for a crypto futures exchange. That’s according to Lewis’s book on Bankman-Fried, “Going Infinite: The Rise and Fall of a new Tycoon,” which says he found the decision ”vaguely disappointing.” “He’s kind of a douche but not worse than a douche,” Bankman-Fried said, according to Lewis. “He should be a great character but he’s not.” Zhao mulled over the invitation but chose instead to start his own futures exchange as a part of Binance, which at that time focussed mainly on spot crypto trading, Lewis wrote. Bankman-Fried Founded FTX Instead Bankman-Fried went on to create FTX, the notorious crypto exchange that collapsed in November last year. His trial for fraud and conspiracy in connection with that implosion began this week in New York and is expected t...

“The foundation intends to allocate $15 million annually in community grants to support innovative DeFi projects. Uniswap, the decentralized exchange (DEX), is currently soliciting on-chain votes to secure approval for the release of its second tranche of funding amounting to $74 million for the Uniswap Foundation’s development endeavors. According to the announcement dated September 27th, this second funding tranche, bolstered by a 10% price volatility buffer, carries an estimated value of $62 million. Its fate will be determined through an on-chain vote scheduled for October 4th. If ratified, these funds will be earmarked for operational enhancements and research grants. The Uniswap Foundation’s mission encompasses nurturing core protocol metrics, nurturing a conduit for innovation, and aligning incentives among stakeholders of this popular DEX. The development team elucidated their plans for the forthcoming year, which include the creation of a software developme...

Over the past few months, there has been a notable influx of new assets making their way into the world of cryptocurrencies. Among these newcomers is Worldcoin ’s WLD token, which has recently gained attention. Interestingly, this project has garnered backing from Sam Altman, the CEO of the company that created ChatGPT. Following its launch, the WLD token experienced a remarkable surge, with its value increasing by more than 100%. Also read: US Congressman Warren Davidson Calls to Ban CBDC ChatGPT has gained a whopping $30 billion valuation. Now, according to the latest data from CoinMarketCap, WLD has almost reached $350 million in market capitalization. Source: Worldcoin Worldcoin market cap surges to $350 million WLD, after its launch today, witnessed a notable spike in its value. The price jumped from an all-time low of $1.66 to a high of $3.58 before falling to its current price of $2.24. WLD has plunged by 38% from its all-time high today. Also read: Sh...

Tether Holdings, the issuer of the USDT stablecoin, has frozen two addresses on the Ethereum network that received funds from Multichain’s multi-party computation (MPC) address. The two addresses, currently flagged by Ethereum block explorer Etherscan as “Multichain suspicious addresses,” are claimed to collectively hold about 2.53 million USDT. Tether has frozen 2 addresses on Ethereum that hold about 2.53 million USDT: 0x9d5…2b68, 0x48B…4537. Both of these addresses have received funds from the Multichain team’s MPC address and are currently flagged by Etherscan as “Multichain Suspicious Addresses.”… — Wu Blockchain (@WuBlockchain) July 8, 2023 The stablecoin issuer’s action comes after a significant amount of multichain assets valued at approximately $130 million were reported to have flowed out of the Multichain cross-chain protocol under suspicious circumstances on July 7. Multichain’s Fantom (FTM) Bridge experienced an outflow...

Join Our Telegram channel to stay up to date on breaking news coverage Nicholas Truglia, of Florida, was sentenced to 18 months in prison on Thursday for his role in a fraud scheme that resulted in the theft of million s from cryptocurrency investor Michael Terpin. The funds were stolen as a result of a SIM swap attack in January 2018 that allowed Truglia’s co-conspirators to hijack Terpin’s phone number and fraudulently transfer approximately $23.8 million in cryptocurrency from his crypto wallet to an online account controlled by Truglia. The defendant “agreed to convert the stolen cryptocurrency into Bitcoin, another form of cryptocurrency, and then transfer the Bitcoin to other Scheme Participants, while keeping a portion as payment for his services,” according to the indictment. Truglia kept at least $673,000 of the stolen funds in order to assist the other fraudsters in collecting and dividing the illegally obtained funds among themselves. Th...

The FTX attack earlier this month was a devastating turn in an already tragic tale. Now, new information gathered reveals that the FTX attacker sent $4.1 million in Bitcoin to OKX through ChipMixer. The now bankrupt platform saw a hacking that stole millions, with reports of the laundered funds being transferred into Bitcoin and Ethereum. New research from Twitter user ZachXBT has now uncovered that those digital assets have been transferred to another cryptocurrency exchange 1/ Myself and @bax1337 spent this past weekend looking into the FTX attacker’s deposits to ChipMixer. It appears they’ve likely been transferring a portion of the stolen FTX funds to OKX after withdrawing from CM So far we’ve accounted for at least $4.1m (255 BTC) sent to OKX pic.twitter.com/C46JZWtktn — ZachXBT (@zachxbt) November 29, 2022 FTX Hacked Funds Sent to OKX The month of November has spelled tragedy for now-disgraced exchange firm, FTX. Shortly after a plumm...

"Unlike some cryptocurrencies using blockchain technology, the EIB's blockchain bond issues do not lead to extensive energy use," the bank wrote. According to a new press release on Nov. 29, the European Investment Bank, or EIB, issued a first-ever euro-denominated €100 million digital bond on a private blockchain-underpinned platform with tokenization help from Goldman Sachs. The latter, along with Société Générale Luxembourg, also act as the on-chain custodians for the financial instrument. The bond bears interest at a coupon rate of 2.57% per year with a maturity date of Nov. 29, 2024, and is governed by Luxembourger laws.  Banque de France and the Banque Centrale du Luxembourg participated in the project to provide a digital representation of euro central bank money. The EIB says that "the transaction paves the way for future on-chain derivative solutions, by using the first interest rate swap hedge represented through the industry-developed common domain mode...