Based culture: Inside Coinbase’s L2 feat

Base has what other L2s don’t: a culture

Coinbase may be pulling off a move that runs opposite to crypto’s holiest cypherpunk ideals: fostering an unironic vibe around Base, its corporate-powered L2.

No matter how you look at it, Base is popping off. The rollup network, built on the OP Stack, is posting all-time high transaction counts, stablecoin volumes and unique addresses.

The rising popularity of its native AMM, Aerodrome, has helped push Base’s total value locked to $2.57 billion — more than double Polygon and Avalanche.

It took years for those other networks to attract all that liquidity and mindshare. Base has done it in under eight months. And while Base still has only…

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Civic now has a physical ID card system to prevent AI identity fraud

Civic, an identity and access management solutions company, introduced a new physical ID card that Civic Pass holders can use to prove their identity and minimize the threat of AI driven identity fraud.

A Civic Pass is a non-transferable token, or soulbound identity token, that allows users to access decentralized applications and services by attesting that a user is a legitimate person.

As AI adoption becomes more mainstream, new types of AI technologies are now capable of creating realistic, imaginative scenes from text and instructions. This has allowed the fraudulent identity market to flourish, enabling individuals to produce fake IDs almost instantaneously.

Read from our opinion…

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Bitcoin Difficulty | New ATH

In latest news regarding bitcoin’s evolving market, the mining difficulty of the leading digital asset has hit a new all-time high (ATH), reaching a staggering 83,9T. This new record in Bitcoin difficulty comes as the digital asset world braces itself for the highly anticipated Bitcoin halving event, scheduled to occur in less than 26 days. This article delves into the implications of this increase, and what it means for investors.

Rise in Bitcoin Difficulty: A Sign of Growing Interest

The surge in Bitcoin mining difficulty indicates a significant uptick in interest among miners. This metric measures the complexity of solving cryptographic puzzles required to confirm transactions and…

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Grayscale Bitcoin Trust | Depletion Of BTC In 96 Days

The bitcoin market is abuzz with concerns over Grayscale Bitcoin Trust (GBTC) as reports suggest its bitcoin reserves could vanish within the next 96 days. The details of this situation and Grayscale’s strategies could shed light on related market dynamics.

Accelerated Depletion of Grayscale Bitcoin Reserves

Analysis from Arkham Intelligence reveals that Grayscale has transferred a staggering 266,470 bitcoin out of its wallets since the launch of Bitcoin ETFs on January 11. This accelerated rate of outflows indicates a concerning trend in GBTC’s bitcoin holdings. Arkham Intelligence warns, “GBTC runs out of Bitcoin to sell in 96 DAYS.”

Grayscale started the year holding 618.28K BTC…

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Jerome Powell Net Worth | The Head Of The Federal Reserve

His leadership at the Federal Reserve is not only distinguished by his role in monetary policy but also by his substantial wealth from investment banking and private equity. He has also addressed key financial topics such as Bitcoin and Central Bank Digital Currencies (CBDCs). Jerome Powell net worth remains notably high, positioning him among the wealthiest individuals to have chaired the Fed.

About PowellJerome Powell at hearing of United States committee on banking, housing, and urban affairs — Source

Jerome Powell was born on February 4, 1953, in Washington, DC, United States. He attended Princeton University, where he earned a BA in Politics in 1975. Powell went on to earn a Juris…

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Yes, staking actually should be regulated

Staking is everywhere.

More and more service providers, banks, custodians, non-custodial staking providers and protocols are offering all kinds of staking services — from restaking to liquid staking and staking derivatives. 

Staking has truly become a force in crypto, reaching an all-time high of $350 billion in total market cap. Institutional investors and financial institutions are finally starting to understand the new business models of blockchain and the role of staking — it’s like we will soon see an Ethereum staking ETF from one of the Wall Street giants.

But as the popularity of staking increases, institutional investors in many cases are accessing permissionless staking…

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NEW: Proposed Mining Regulations Submitted to Russian Government by Crypto Players

Russian crypto industry leaders and business magnates have united to draft a bill aimed at legitimizing the country’s flourishing crypto mining activities. The initiative, spearheaded by Alexander Brazhnikov of the Russian Association of Cryptocurrency and Blockchain (RACIB), has been disclosed amidst growing enthusiasm for crypto within Russia, where citizens reportedly own over 12 million cryptocurrency wallets, holding assets worth $108 billion. The proposed legislation seeks to bring mining operations out of the regulatory shadows, potentially enabling lawful business ventures and attracting significant investments, including a $4 billion commitment to new data centers by the mining community.

The bill, supported by key lawmakers, proposes classifying mining as an official economic activity, thereby opening the door to state taxation while ensuring a secure future for mining enterprises. Furthermore, it suggests the establishment of a legal framework for converting mined digital assets and possibly introducing a state-managed crypto exchange to facilitate cross-border trade using cryptocurrencies. This move could mark a significant shift in Russia’s approach to the crypto economy, signaling a willingness to embrace the sector’s potential benefits while addressing regulatory and legal challenges.

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First Nation to Buy Bitcoin El Salvador Passes $400 Million in Holdings

El Salvador, the first country to make Bitcoin legal tender, and to adopt a Bitcoin investment strategy for its national treasury, has now accumulated over $400 million worth of Bitcoin.

President Nayib Bukele led the effort to pass a law making Bitcoin legal tender in 2021. Since then, the country has purchased Bitcoin through daily and periodic purchases announced by Bukele on X.

In addition to direct purchases, El Salvador also generates Bitcoin through a passport program, converts BTC to dollars for businesses, and mines Bitcoin, all of which demonstrates the country’s commitment to building a circular Bitcoin economy.

Bukele recently revealed the government’s Bitcoin address for the…

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Cathie Wood’s Ark Takes Profits In Rallying Crypto Stocks, Trims Nvidia And This COVID-19 Play Further – ARK Innovation ETF (ARCA:ARKK)

Cathie Wood’s Ark Investment Management has continued to trim some high-profile stocks, including some with links to the cryptocurrency space. This trend continued on Monday.

Crypto-Linked Stock Sales: Ark sold shares of cryptocurrency exchange Coinbase Global, Inc. COIN, trading platform Robinhood Markets, Inc. HOOD, and Jack Dorsey‘s payment processing firm Block, Inc. SQ.

Robinhood allows cryptocurrency trading on its platform. Block’s subsidiary, Spiral, offers Bitkey, a self-custody crypto hardware wallet that allows investors to manage and store their Bitcoin outside of exchanges.

Details of the transactions are as follows:

Coinbase: 74,291 shares ($20.78… Read more on Benzinga

LATEST: Spot Ether ETFs Should Get Green Light, Says Grayscale Chief Legal Officer

Craig Salm, Grayscale’s Chief Legal Officer, has expressed optimism regarding the approval of spot ether exchange-traded funds (ETFs), despite concerns over the US Securities and Exchange Commission’s (SEC) apparent silence. Salm, on X, highlighted the thorough discussions and positive engagement with the SEC during the final phases before the approval of Bitcoin ETFs. He emphasized that the groundwork laid for Bitcoin ETFs—covering aspects like creation/redemption procedures and custody—applies equally to ether ETFs, suggesting less need for extensive engagement this time around. However, Alex Thorn of Galaxy Digital views the approval of a spot ether ETF by May as “extremely unlikely,” citing recent SEC actions that might indicate a move to classify ether as a security. This skepticism follows shortly after the SEC postponed its decision on Grayscale’s ether futures ETF to May 30, sparking further debate on the future of cryptocurrency regulation.

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