Cryptocurrency

In a Sept. 21 filing with U.S. District Court for the Southern District of New York, Judge Lewis Kaplan granted in limine motions from prosecutors which would bar certain witnesses from testifying in SBF’s criminal trial. Kaplan provided different legal grounds for granting the DoJ’s motions against certain witnesses, which included the proposed testimony being “not at all clear”, irrelevant to the trial, or would otherwise seemingly obfuscate the facts of the case for the jury.Continue Reading on Coin Telegraph More

According to Microsoft’s announcement, the solution will work as an app or reveal itself to users by right-clicking. It will be available as enhancements on popular apps like Paint, Photos and Clipchamp. Across other products, search engine Bing will be supported by OpenAI’s new DALL-E 3 model, while Microsoft 365 Copilot will integrate a chat assistant for enterprise solutions. Continue Reading on Coin Telegraph More

What was more of a surprise, however, is the fact that the Fed raised its long-term forecast for the Federal Funds Rate, which they now see as standing at 5.1% by the end of 2024 — up from June’s prediction of 4.6% — before falling to 3.9% at the end of 2025, and 2.9% at the end of 2026. These numbers are notably higher than previous forecasts and indicate a “higher for longer” scenario for U.S. interest rates that not too many market participants were expecting. Continue Reading on Coin Telegraph More

This pattern is not new for Binance. The exchange has previously seen a drop in trading volumes and market shares following the end of promotional campaigns. In March, for example, Binance’s share of all spot trading fell from 65% to 58.8% within a week after a similar zero-fee initiative for Bitcoin cryptocurrency pairs ended.However, the cessation of zero-fee trading promotions is not the sole reason for the dwindling trading volumes. Regulatory concerns surrounding Binance have likely prompted users to switch to alternative platforms. Earlier this year, both the U.S. Commodity Futures Trading Commission and the Securities and Exchange Commission lodged lawsuits against Binance, alleging that the platform failed to register with U.S. regulators. Binance and its founder Changpeng Zhao are currently contesting these charges in court.Moreover, Binance has been facing substantial outflows since August began. Approximately 12,230 Bitcoin, valued at around $330 million, and about 198,200 Ether, worth approximately $323 million, have left the exchange. These two cryptocurrencies represent a significant portion of the estimated $1 trillion crypto market, with Bitcoin accounting for around half and Ether making up roughly 20%.The market share of Binance has also been declining. From commanding 56.9% of the spot market share in March, it has fallen to 33.9%. Binance.US, the exchange’s American arm, has also been suffering from a shrinking market share. Despite these setbacks, Binance remains the operator of the largest crypto derivatives platform worldwide.As of Thursday, a spokesperson for Binance was not immediately available to comment on these developments.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More

According to the announcement, Uniswap University aims to create a structured learning pathway for onboarding users to its V3 exchange via courses, simulation, and quick guides. Via the platform, users can gain knowledge on topics ranging from “What is a DEX?” to advanced topics such as “Strategy Backtesting Tools.” Meanwhile, simulations such as adding/removing liquidity and exploring advanced position management tools allow users to gain quick practical experience.Continue Reading on Coin Telegraph More

This proposal surfaces after Celo’s core team, cLabs, revealed an alternative idea involving a transition from Layer 1 to an Ethereum-based Layer 2 using software from OP Labs named OP Stack.Sandeep Nailwal, Polygon’s co-founder, voiced his proposal on Celo’s governance forum, stating, “We propose the Celo Ecosystem to employ the Polygon CDK for its L2 migration. The CDK is an open-source toolset that facilitates developers in constructing ZK-powered L2s for Ethereum. Its beauty lies in the ease with which it allows L1s to transition to Ethereum L2s, coupled with an emphasis on modularity.”Polygon’s CDK, a product of Polygon Labs, is rooted in open-source principles. It’s tailored for the creation of Layer 2s, which utilize zero-knowledge rollup technology, inheriting Ethereum’s robust security via ZK proofs.This innovative software kit hasn’t gone unnoticed. Established blockchain enterprises like Canto, Astar, Immutable, IDEX (NYSE:IEX), and Palm Network have already expressed their keen interest, collaborating with Polygon Labs for their Ethereum(ETH) Layer 2 migration needs.As discussions ensue, Rene Reinsberg, Celo’s co-founder, indicated that cLabs is keen on involving the wider community in their deliberation process, ensuring a transparent and communal decision-making process.However, the Layer 2 migration scene is bustling with activity and options. Numerous teams are exploring transitions to the Ethereum Layer 2 ecosystem, with many having a range of software tools at their disposal, courtesy of prolific teams like Polygon, Optimism(OP), and Arbitrum(ARB).A captivating dynamic is observed with Polygon’s CDK and OP Stack from Optimism Labs. While various entities, including Base and Zora, have embraced OP Stack’s optimistic rollups for Layer 2 designs, Polygon’s CDK remains a compelling alternative, accentuating the potential of zero-knowledge rollups.This article was originally published on Crypto.news More

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Bitdeer Technologies Group has been entrusted to raise $500 million from international investors for this venture. Reports indicate that the fundraising campaign is already underway.Ujjwal Deep Dahal, CEO of Druk Holding and Investments (DHI), highlighted Bhutan as an ideal location for Bitcoin mining. Despite geographical and connectivity challenges due to its mountainous and landlocked nature, Bhutan’s access to green energy and relatively lower power costs make it an attractive investment destination for digital assets. Dahal emphasized that this project could spur a more interconnected and sustainable economy in the region.The CEO also stressed that the crypto mining initiative would bolster local residents’ understanding of and involvement in the sector. This could empower Bhutanese citizens to actively participate in the global economy without leaving their homeland.The Bhutanese economy, currently grappling with COVID-19 impacts and foreign exchange issues, could significantly benefit from this crypto-mining venture. Initial operations accounting for the first 100 megawatts are slated to begin this month. Officials anticipate that capacity will increase to 600 MW within the next three years.As part of their agreement, Bitdeer and DHI have ensured domestic power needs will take precedence. Mining operations will be temporarily halted during winter months when power generation decreases. This measure underscores the commitment to balance economic growth with local energy needs.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More