Bitcoin mining is a “critical tool” for clean energy and balancing the grid, according to a new working paper penned by Bitcoin advocates and the former president of ERCOT, the operator of Texas’ electrical grid. 

The Nov. 22 paper titled “Leveraging Bitcoin Miners as Flexible Load Resources for Power System Stability and Efficiency” argued that Bitcoin mining’s inherent interruptibility and swift load response capabilities could enhance grid flexibility to better integrate variable renewable energy sources.

Authors of the working paper included Castle Island Ventures partner Nic Carter, Satoshi Action Fund CEO Dennis Porter and  Science Advisor Murray Rudd, former ERCOT…

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Mercedes-Benz Formula One team and Major League Baseball helped FTX perpetrate fraud through promotional deals with the crypto exchange, according to a group of FTX users in a newl

The plaintiffs, consisting of FTX users, filed twin class-action suits in a Florida District Court on Nov. 27, accusing the firms of “aiding and abetting and/or actively participating in the FTX Group’s massive, multibillion-dollar global fraud” and promoting unregistered securities.

In 2021, the Mercedes F1 team signed a promotional deal with FTX which saw the exchange’s logo emblazoned on cars, uniforms, hats and other materials. The MLB signed a similar deal that same year — the first pro sports…

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Crypto exchange Coinbase (COIN) shares have hit an 18-month high after rival exchange Binance and its former CEO Changpeng Zhao pleaded guilty to money laundering and sanctions violations in the United States.

On Nov. 27, Coinbase closed at $119.77, its highest since May 5, 2022, when it closed at $114.25, according to TradingView data. It has seen little movement in after-hours trading.

The number puts Coinbase shares up around 256.5% year-to-date, although is still down 65% from its Nov. 12, 2021, all-time high of nearly $343.

Coinbase share price since May 2022. Source: TradingView

Coinbase’s share surge comes just shy of a week since Binance and founder Changpeng “CZ” Zhao pleaded…

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The United States Securities and Exchange Commission is still looking for evidence that Binance.US had a backdoor to potentially control customer assets in a similar style to FTX, according to a Nov. 27 report by the Wall Street Journal.

In June, the SEC filed a lawsuit against Binance and Binance.US, alleging that the exchange was involved in the sale of unregistered securities and accused Binance and its founder of participating in a complex conspiracy that involved fraud, conflicts of interest, a lack of disclosure and willful disregard for the law.

One of the allegations was that the exchange diverted customer assets at their discretion, including sending money to the Switzerland-based…

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Ether (ETH) is struggling to maintain the $2,000 support as of Nov. 27, following its third unsuccessful attempt in 15 days to surpass the $2,100 mark. This downturn in Ether’s performance comes as the broader cryptocurrency market sentiment deteriorates, thus one needs to analyze whether 

It’s possible that recent developments, such as the U.S. Department of Justice (DOJ) signaling potential severe repercussions for Binance founder Changpeng “CZ” Zhao, have contributed to the negative outlook.

In a filing on Nov. 22 to a Seattle federal court, U.S. prosecutors sought a review and reversal of a judge’s decision permitting CZ to return to the United Arab Emirates on a $175-million…

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The governance token for crypto mixer Tornado Cash (TORN) has fallen by over 50% on Nov. 26-27, according to data from Coingecko. The crash came on the same day that crypto exchange Binance announced it was delisting the token.

Tornado Cash 24-hour chart. Source: Coingecko.

Tornado Cash is a cryptocurrency mixing protocol. Its token, TORN, is used to vote on proposals for upgrading the protocol. On Nov. 26-27, the token took a nosedive, falling from $3.90 to just $1.66, a decline of 57%. The price decline happened as the world’s largest crypto exchange by volume, Binance, announced that it will stop accepting deposits of TORN on Dec. 8 and will no longer process withdrawals after March…

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A pair of researchers from ETH Zurich, in Switzerland, have developed a method by which, theoretically, any artificial intelligence (AI) model that relies on human feedback, including the most popular large language models (LLMs), could potentially be jailbroken.

Jailbreaking is a colloquial term for bypassing a device or system’s intended security protections. It’s most commonly used to describe the use of exploits or hacks to bypass consumer restrictions on devices such as smartphones and streaming gadgets.

When applied specifically to the world of generative AI and large language models, jailbreaking implies bypassing so-called “guardrails” — hard-coded, invisible instructions…

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Binance and CZ’s ongoing legal drama with United States law enforcement ended with a plea deal.

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Changpeng “CZ” Zhao, who pleaded guilty to one felony charge as part of a settlement with the United States Department of Justice involving crypto exchange Binance, may not be permitted to leave the country as he awaits sentencing.

According to a Nov. 27 filing in U.S. District Court for the Western District of Washington at Seattle, Judge Richard Jones stayed a decision by a magistrate judge that would have allowed CZ to return to the United Arab Emirates (UAE), where he has a home and family members. The judge ordered that CZ would not be permitted to travel to the UAE until a court ruled on a motion from the U.S. government on the matter.

Zhao stepped down as CEO of Binance on Nov….

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