Magic Eden Pauses BRC-20 Trading as Ordinals Usage Nosedives

Leading non-fungible token marketplace Magic Eden announced on October 22 that it would pause trading of BRC-20 tokens. The firm called this a precautionary measure to protect its users while a complete consensus on Ordinals Inscriptions is reached.

We’ve temporarily paused BRC-20 trading to best protect users until full ord consensus across all BRC-20All other trading remains live on Magic Eden in the meantime!

— Magic Eden on Bitcoin (@MEonBTC) October 22, 2023

Upgrades Pushed Miners’ Revenue to Record Highs

The usage of the Bitcoin BRC-20 protocol and Ordinals Inscriptions surged to record highs when they were introduced, but now the situation has made a 180-degree…

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Reddit removes moderators involved in alleged insider trading of Moon tokens

Reddit’s r/Cryptocurrency community has fired two moderators who were found to be involved in insider trading of the Moon token, Cointelegraph has confirmed.

As Cointelegraph reported on Oct. 20, at least three wallets linked to Reddit group moderators dumped hundreds of thousands of dollars worth of Moon tokens on Oct. 18, just minutes before the official announcement of the closure of the blockchain-based points program that involved the use of certain cryptocurrencies native to each community. The market dump by the three wallets was highlighted by on-chain analysis accounts on X (formerly Twitter) such as Lookonchain.

1/ Three @CCMOD_ moderators dumped $MOON in advance via #inside…

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Worldcoin rotates reward token scheme

Crypto-based digital identity provider Worldcoin will transition operator rewards from USDC stablecoins to its WLD tokens starting next month.

Worldcoin had used USDC-based rewards as a temporary measure following its launch, a phase that’s now concluding. 

Issuing operator rewards in WLD will add to the increasing circulation of its native token.

The WLD token debuted with a modest circulating supply of slightly over 100 million WLD, the team said in a blog on Sunday. Its max supply is 100 times higher at 10 billion.

“This was due to the goal of creating a network of as many human beings as possible. To achieve this, the majority of the WLD token supply will be given to new and…

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Rich Dad, Poor Dad Author: 'Next Stop' for Bitcoin Price $130,000

Renowned financial educator and author of the best-selling book “Rich Dad Poor Dad,” Robert Kiyosaki, has once again made a bold prediction regarding the future of Bitcoin, suggesting that the cryptocurrency’s price is on a trajectory to reach $130,000. 

Kiyosaki’s pronouncement comes amid his growing concerns about inflation and a shifting global economic landscape.

In a recent tweet, Kiyosaki shared his insights on various assets, including Bitcoin, gold, and silver. He started by forecasting a bullish future for gold, stating, “Gold will soon break through $2,100 and then take off.”

Kiyosaki’s optimism about gold stems from the precious metal’s historical role as a hedge against…

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MetaMask security partner Blockaid secures $33M funding

Blockaid, a blockchain security startup and partner of the MetaMask cryptocurrency wallet, has secured $33 million funding to scale its technology designed to stop malicious transactions.

The Series A funding round for Blockaid was led by major industry venture capital firms, including Coinbase investor Ribbit Capital and the early-stage VC firm Variant. Other funding members included Sequoia Capital, Cyberstarts and Greylock Partners.

Announcing the news on Oct. 23, Blockaid also said its security platform is coming out of stealth with its inaugural customers like MetaMask, the OpenSea marketplace, the Rainbow wallet and the Zerion wallet. The startup has formed a strategic alliance…

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Bitcoin, Dogecoin, Ethereum Funding Hamas Terror? $41M Of Crypto Seized So Far Could Just Be Drop In Bucket

The United States and Israel are intensifying efforts to curtail cryptocurrency transfers to Hamas following the group’s large-scale attacks on Israel earlier this month. Coins like Bitcoin, Dogecoin, and Ethereum are often implicated as funding streams for Islamist organizations.

The use of digital currencies and crypto exchange platforms to finance Islamist extremism has come under increasing scrutiny after the Oct. 7 attacks by Hamas, France 24 reported.

On Oct. 19, the U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN) proposed new regulations to classify “Convertible Virtual Currency Mixing” (CVC mixing) as a primary money laundering concern to…

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Thailand delays digital money handout, critics call for probe

Thailand’s planned digital wallet scheme that intends to payout 10,000 baht (~$274) to citizens over 16 years old has been delayed while critics call for a probe from the country’s electoral commission.

As originally reported by the Bangkok Post, Thailand’s deputy finance minister Julapun Amornvivat announced that the planned Feb. 2024 launch of a new digital wallet has been delayed to buy more time for the development of the system.

The Thai government hopes to use the wallet to issue 10,000 baht to eligible citizens in a bid to stimulate the local economy.

A statement from Amornvivat highlighted that the government wants more time to ensure the security of the system underpinning…

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Sam Bankman-Fried’s Trial Nearing End, Prosecution Set To Rest Case

The trial of crypto mogul Sam Bankman-Fried is wrapping up, with the prosecution expected to conclude their case on Oct. 26. The case has seen nearly 20 testimonies regarding an alleged $8 billion discrepancy between FTX and Alameda Research.

As reported by Cointelegraph, the lineup of witnesses over the past three weeks included former FTX employees, customers, investors, government officials, and law enforcement agents. The central argument of the case is that Bankman-Fried intentionally deceived them all.

The defense, led by lawyers Mark Cohen and Christian Everdell, is yet to confirm whether they will waive the case. Their presentation to the jury has reportedly been less…

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