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JPMorgan is forecasting that the newly approved spot bitcoin ETFs could siphon off up to $36 billion from other cryptocurrency products like the Grayscale Bitcoin Trust. While the bank is skeptical about new capital entering the crypto market, it predicts this significant migration from existing crypto products to the new spot ETFs will be primarily driven by lower fees.
Venezuela is shutting down its Petro cryptocurrency after over five years of operation. Launched by President Nicolas Maduro in 2018, Petro was intended to bolster the country's national currency amidst an economic crisis and US sanctions. However, it was mired in controversy from the start and most recently faced a corruption scandal linked to oil operations. Outstanding Petros are being converted into the local currency, bolívars.
This paper introduces SatoshiVM, an attempt to help build out a robust L2 architecture on top of Bitcoin without altering the existing Bitcoin protocol. This approach confirms the correct execution of L2 blocks while benefiting from the features of Taproot for complex function executions. SatoshiVM enhances the secure off-chain proof process for each block and allows third-party verification, thereby improving the robustness, security, and efficiency of L2 solutions on Bitcoin.
Ethereum L2 rollup project Taiko has announced the launch of its final testnet, Katla, with a mainnet launch expected sometime in Q1. Katla introduces a fresh rollup design, the multi-proof-based contestable rollup, aimed at enhancing decentralized applications' throughput and cost efficiency. Unlike other L2 rollups, Taiko leans on Ethereum validators for transaction and block sequencing, aiming to boost security and censorship resistance.
This thread provides a comprehensive list of protocols in the Solana, Cosmos, and EVM ecosystems to interact with to potentially qualify for airdrops. It also provides details on the features of the protocols and walks through step-by-step guides for interacting with each one.
This post presents a bullish outlook on 2024, strategies for the year, and narratives to watch. Key narratives include a focus on alt-L1s & L2s, GameFi, crypto x AI, and real-world assets. The author advises farming airdrops, noting the launch of LayerZero's token in the coming months. The post also emphasizes the importance of focusing on a limited number of narratives to build convictions.
Google announced it would become a validator and infrastructure provider for the Flare blockchain network. As part of this role, it will secure the Flare network and contribute to the Flare Time Series Oracle that offers developers access to decentralized data. This partnership is yet another step for Google into the web3 space.
Elon Musk recently confirmed he still holds a substantial amount of Dogecoin and that his company SpaceX maintains holdings in Bitcoin. Tesla also owns almost 10,000 Bitcoin, despite selling 4,320 Bitcoin in 2021 and three-quarters of its remaining Bitcoin in 2022 due to environmental concerns. In the past, Musk has been accused of market manipulation in crypto as his comments on Bitcoin and especially Dogecoin caused massive swings in the market back in 2021. His commentary on Dogecoin in the more recent past has had a more muted effect on the coin and his legal team is confident that his comments have been completely legal.
Crypto policy group Coin Center is contesting Sen. Elizabeth Warren's criticisms of its stance against her proposed anti-crypto laws, citing the bills as unfair and unconstitutional.
In this article, Mustafa Al-Bassam, Celestia founder and former LulzSec hacker, reminisces about past exploits, highlighting the Westboro Baptist Church hack during a live radio show as his favorite.
This thread lays out why Bitcoin miners might be in for some short-term pain, predicting reduced revenues and profitability due to the upcoming halving.
Solana is reportedly planning on releasing a second generation of its cryptonative mobile phone according to an individual familiar with the matter.