Zcashs Ironwood upgrade faces possible delay over infrastructure readiness

Shielded Labs has raised the possibility of delaying Zcashs Ironwood network upgrade, warning that ecosystem participants like exchanges, mining pools and wallets may not have enough time to prepare their systems for the planned activation in late July.  Jason McGee, executive director of Shielded Labs, said in a Zcash community forum post that two major projects are moving forward at the same time. Alongside Ironwood, infrastructure providers are being asked to replace Zcashs longstanding node and wallet software, zcashd, with a new collection of tools known as the Z3 stack.  The concerns highlight the trade-off between quickly restoring confidence in Zcashs shielded supply and giving ecosystem participants enough time to deploy and audit the new infrastructure safely.  Ironwood was proposed after researchers discovered an “infinity” bug in Orchard, Zcashs main private transaction pool. The flaw could theoretically have allowed an attacker to create an unlimited amount of counterfeit ZEC tokens inside the pool without detection. Developers said there was no evidence that the pool had been exploited. However, Orchards privacy features make it impossible to prove that no fake coins were created.Source: Zooko Wilcox  Ironwood rollout collides with Zcash software migration  Ironwood would open a replacement private pool and prevent new activity inside the existing

07-04انڈسٹری

Revolut to delist USDT in August, citing regulatory and risk concerns

Revolut, a crypto-friendly digital banking platform headquartered in the United Kingdom, notified some users it will delist Tether USDt (USDT) stablecoin in August, citing regulatory and risk concerns.  In a Friday customer notice seen by Cointelegraph, Revolut said users will no longer be able to buy USDT starting July 6, with full delisting scheduled for Aug. 31, 2026.  If users do not sell or withdraw their USDT by the end of August, Revolut will automatically convert any remaining USDT holdings into users‘ base currency at the day’s exchange rate, the company said.  USDT deposits will no longer be supported after July 30, 2026, after which any incoming USDT transfers will be rejected, it said.  The move highlights how major fintech companies are adjusting stablecoin access in response to shifting regulatory frameworks. It also raises questions about timing, as exchanges such as Coinbase began delisting USDT in Europe in 2024 to align with EUs Markets in Crypto-Assets (MiCA) requirements.  Revolut does not cite exact framework for delisting  Revolut has not clarified whether the USDT delisting will apply globally or only in specific jurisdictions.  Addressing the reasons for delisting USDT, Revolut cited “regulatory and risk considerations” without expanding what regulations specifically have triggered the move.Source: Cointelegraph  The company was granted

07-04انڈسٹری

Defendant files to dismiss New York lawsuit seeking ownership of 39,069 Bitcoin wallets

A pseudonymous defendant has moved to dismiss a New York lawsuit seeking ownership of 39,069 dormant Bitcoin addresses, arguing that Bitcoin addresses are merely data strings that cannot be sued.  The defendant, identifying themselves as “John Doe 33,” filed a notice of appearance and motion to dismiss on Thursday, claiming they control one of the dormant wallets named in the lawsuit.  According to the motion, the lawsuit is legally defective because Bitcoin address strings are neither persons nor legal entities subject to the courts jurisdiction. The filing argues that a public Bitcoin address cannot itself be “found” under New Yorks lost-property law because it has always been publicly visible on the blockchain.  The filing challenges the lawsuit filed in May by plaintiff “Noah Doe” and two Wyoming-based LLCs, ABC Company and XYZ Company. The plaintiffs claim the Bitcoin tied to the listed addresses constitutes abandoned property that they reported to the New York Police Department and claimed under New York lost-property law.  Regardless of how the court rules on ownership, it remains unclear how the plaintiffs could recover any Bitcoin without possessing the private keys needed to access the wallets.  Defendant files a motion to dismiss the case seeking ownership of 39,069 Bitcoin wallets. Source:

07-04انڈسٹری

US law enforcement group drops opposition to CLARITY Act: Report

The Major County Sheriffs of America reportedly said it no longer opposes the CLARITY Act after initially raising concerns over how the bill would affect illicit finance investigations.  In a letter to US Senate Banking Committee chair Tim Scott and Senator Elizabeth Warren on Friday, the MCSA said it shifted its stance on the CLARITY Act to “neutral” after some of its concerns in a May 14 letter regarding Section 604 in the bill were addressed.  Section 604 relates to the Blockchain Regulatory Certainty Act, which seeks to protect developers from liability for illicit activity committed by users on their decentralized platforms.  The MCSA previously contended that Section 604 could create a loophole for criminals to exploit, making it tougher for law enforcement to investigate crypto-related crimes.Source: Eleanor Terrett  While the CLARITY Act has bipartisan support, its passage through the Senate has largely been stalled by banking groups seeking to restrict stablecoin yield, which they argue functions like an unregulated deposit product that could drive trillions of dollars in outflows from the traditional banking system.  The bill has been awaiting a full Senate vote since May, when the Senate Banking Committee passed the bill mostly along party lines.  Senators in favor of the bill are pushing

07-04انڈسٹری

Bitcoin profit and loss ratio falls to 43-month low

Bitcoins realized profit and loss ratio has fallen to a 43-month low of -0.35, a figure that signals extreme market-wide loss conditions but has historically coincided with market bottoms, blockchain analytics platform CryptoQuant said.  The Bitcoin realized Ps aggregate on-chain cost basis — a level that has historically coincided with strong forward returns of 41% at six months and 81% at 12 months.  Livingston acknowledged that buying Bitcoin right now “feels awful,” but that‘s precisely why it’s trading at a discount, he argued.  “Waiting for ‘the bottom’ is a wonderful plan with one flaw. The bottom never announces itself,” Livingston said, recommending investors buy now rather than overpay at the top.

07-04انڈسٹری

ESMA warns many prediction market event contracts already face EU retail ban

The European Securities and Markets Authority (ESMA) has warned that many prediction market contracts may already fall under existing restrictions on binary options, saying companies cannot avoid financial regulations simply by marketing them as “event contracts.”  In a public statement on Friday, the regulator reminded companies that event contracts meeting the definition of financial instruments are already prohibited from being marketed, distributed or sold to retail investors under national measures implementing ESMAs 2018 binary options restrictions.  ESMA said the assessment depends on a contracts characteristics rather than how it is marketed, adding that event contracts with binary outcomes and fixed payouts are likely to qualify as financial instruments subject to the restrictions.  The regulator also told companies that offering qualifying event contracts to professional or institutional clients still requires authorization under the EUs Markets in Financial Instruments Directive, or MiFID II, regardless of whether retail investors are excluded.Excerpt from ESMAs July statement on event contracts. Source: ESMA  The statement does not introduce new restrictions. ESMA said it issued the reminder after observing increased offerings of event contracts and the rapid growth of prediction markets, noting that qualifying binary options have already been subject to national restrictions across the EU since 2018.  Related: StanChart joins ESMAs

07-04انڈسٹری

Crypto Biz: Bitcoin maximalism meets the realities of capital markets

For years, Michael Saylors Strategy built its brand around a simple mantra: Buy Bitcoin. Never sell. This week, that narrative changed.  The company authorized up to $1.25 billion in Bitcoin sales under a new capital framework. At current prices, that equates to roughly 21,000 BTC that could eventually hit the market — a reminder that even Bitcoin‘s most committed corporate holder isn’t immune to the realities of capital management.  This week‘s Crypto Biz explores how the digital asset industry is entering a more pragmatic phase, where ideological purity is giving way to financial discipline. It also examines the intensifying stablecoin race as issuers compete for reserve yield, Fidelitys latest defense of Bitcoins long-term security model and the crypto industry’s growing political influence ahead of the 2026 US midterm elections.  Strategy authorizes $1.25 billion in Bitcoin sales to fund dividends, buybacks  Strategy has authorized up to $1.25 billion in Bitcoin sales under a new capital framework that will fund shareholder dividends, bolster cash reserves and repurchase stock while preserving its long-term Bitcoin strategy.  The companys new “Digital Credit Capital Framework” raises the annual dividend on its STRC preferred stock from 11.5% to 12%, establishes a formal Bitcoin monetization program and expands capital return initiatives through buybacks

07-04انڈسٹری

Address Linked to Silk Road BTC Auction Winner Moves 1,000 Bitcoin to Coinbase Prime

A blockchain address widely believed to be associated with venture capitalist Tim Draper deposited 1,000 Bitcoin, valued at approximately $61.82 million, into Coinbase Prime roughly seven hours ago, according to on-chain tracking firm Lookonchain. The transaction has drawn renewed attention to one of the most famous government Bitcoin auctions in history.  Background of the Silk Road Bitcoin Auction  In 2014, the U.S. Marshals Service auctioned approximately 29,656 Bitcoin seized from the Silk Road darknet marketplace. Tim Draper, a prominent venture capitalist known for early investments in companies like Skype and Tesla, emerged as the winning bidder. He acquired the entire lot at a price of $632 per Bitcoin, representing a total investment of $18.7 million. At current market prices, that holding is worth roughly $1.82 billion.  Implications of the Recent Transfer  The deposit of 1,000 $BTC to Coinbase Prime, a platform designed for institutional trading, suggests a potential sale or rebalancing of assets. While the address is not definitively confirmed as belonging to Draper, the correlation with the auction winners known holdings has led to widespread speculation. Large movements of Bitcoin from long-dormant addresses often precede market shifts, though the impact of this particular transfer remains to be seen.  Market Context and Historical Significance  This transaction

07-04

Paradigm-Linked Wallets Stake 1 Million HYPE Worth $66.75 Million

Two cryptocurrency wallets linked to venture capital firm Paradigm have collectively staked one million $HYPE tokens, according to blockchain tracking firm Onchain Lens. The staked tokens are valued at approximately $66.75 million based on current market prices.  Details of the Transaction  Onchain Lens reported the staking activity on social media, noting that the two wallets associated with Paradigm executed the transaction. Staking involves locking up tokens to support network operations, such as transaction validation, in exchange for rewards. The move signals a long-term commitment to the Hyperliquid ecosystem, the blockchain platform underlying the $HYPE token.  Implications for Hyperliquid and Institutional Staking  This large-scale staking event by a prominent venture capital firm underscores growing institutional interest in Hyperliquid. Paradigm, known for its early investments in major crypto projects, appears to be signaling confidence in the networks security and future value. The staking of such a significant amount also reduces the circulating supply of $HYPE, which can have a positive impact on token price dynamics.  Why This Matters to Investors  For market participants, large staking events by reputable entities like Paradigm often serve as a bullish indicator. They suggest that sophisticated investors are willing to lock up capital for extended periods, betting on the projects long-term viability. This

07-04

Upbit says it only expressed interest in future OUSD participation

South Korean crypto exchange Upbit said it is not participating in the issuance of Open USD, after its operator Dunamu was named among more than 140 businesses involved in the new stablecoin initiative.  “Upbit has only indicated our potential willingness to consider taking part in the future expansion of the OpenStandard ecosystem,” an Upbit spokesperson told Cointelegraph.  The clarification follows similar pushback from Samsung Electronics and other South Korean companies listed by Open Standard.  According to a Friday report by ChosunBiz, Samsung said it had not held formal discussions with the project and did not know what role it was expected to perform. Meanwhile, Shinhan Financial Group and KBank reportedly said they had only indicated that they would consider the initiative.  Cointelegraph reached out to Open Standard for comments but did not receive a response before publication.  Excerpt of the list of businesses listed by Open Standard. Source: Open Standard  Open Standard announced the dollar-backed stablecoin on Tuesday, saying more than 140 businesses had “signed up to use” it, including Visa, Mastercard, BlackRock, Google, Samsung Electronics and Dunamu.  Open Standard previously said businesses would be able to mint and redeem OUSD without fees or volume limits. The project also plans to distribute earnings generated from its reserves

07-04انڈسٹری
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