Category: crypto

Ethereum’s Pectra upgrade faced a challenge on Feb. 24 due to incorrect deposit contract addresses, causing chain splits. Discussions on the upgrade’s resilience have ensued. Efforts are being made to patch the issue, and a mass validator slashing event is scheduled for Feb. 28. Holesky will experience non-finality for three weeks. Sepolia will host Pectra’s…

Ethereum co-founder Vitalik Buterin emphasizes the importance of improving wallet security solutions to prevent crypto losses caused by inaccessible funds. He highlights the significant risk of self-custody and advocates for social recovery wallets to protect users from irreversible losses due to human error or technical failures.

Dunamu, the parent company of South Korea’s largest crypto exchange, Upbit, is taking legal action against the country’s Financial Intelligence Unit (FIU) over a business suspension order. Upbit challenges the FIU, arguing that the penalties are disproportionate and will impact its operations. South Korean authorities have launched a specialized unit to combat crypto-related crimes.

Coinbase-backed Ethereum Layer 2 network Base has introduced Flashblocks, Smart Wallet Sub Accounts, and Base Appchains to enhance scalability and usability. Flashblocks aims to make Base ten times faster, Smart Wallet Sub Accounts allow multiple wallets within a single interface, and Base Appchains support high transaction throughput for applications. These innovations position Base as a…

El Salvador has introduced a new AI law to promote innovation with regulatory oversight. The law prioritizes open-source AI development and integrates AI into key sectors while upholding data security and ethical standards. It aims to attract investment and technological growth, creating economic opportunities and a strong AI talent pool.

Bitcoin has dropped below $80,000, hitting its lowest point since November 2024. The broader crypto market is experiencing a significant downturn, erasing gains from Donald Trump’s election victory. The market-wide losses have exceeded $1 trillion, with leading altcoins also suffering sharp declines. Analysts attribute the crash to uncertainty over Trump’s tariff policies, weakened investor confidence,…

The SEC has dropped its civil enforcement action against Coinbase, citing a new approach to crypto regulation. The agency formed a Crypto Task Force to develop a structured regulatory framework for the sector. This move reflects a potential shift in the SEC’s handling of cryptocurrency-related cases and signals a more collaborative regulatory approach.

The Texas Senate Banking Committee approved a bill to create a state-managed Bitcoin and crypto reserve, aiming to protect state financial reserves from inflation and economic instability. The bill authorizes the Texas Comptroller of Public Accounts to acquire, manage, and trade Bitcoin and other cryptocurrencies. Other states are also exploring similar initiatives.

The SEC clarified that memecoins are not considered securities under federal law, as they are primarily purchased for entertainment purposes and lack substantial utility. While this stance relieves memecoin promoters and traders of registration requirements, the agency warned against fraudulent activity and emphasized the need for caution in meme coin speculation.

Thorchain is facing a developer exodus due to hackers using the blockchain to launder stolen Ethereum. The protocol’s lead developer is stepping down, and another developer may also leave if the issue is not resolved. Thorchain’s centralized design and lack of regulatory compliance may lead to a crisis for the protocol.