Its second-quarter 2023 results released on July 26 saw Meta report an 11% revenue gain compared to the same quarter last year, totaling $31.9 billion.Continue Reading on Coin Telegraph More
At the recent Ethereum Community Conference (EthCC) event, Reddit’s senior engineer Mirela Spasova shared how the online forum platform onboarded millions to its NFT avatars. Spasova highlighted that the motivation behind the project was empowering users with freedom of use.Continue Reading on Coin Telegraph More
Just as ERC-20 tokens were gaining traction, Vogelsteller left the Ethereum Foundation the same year to focus on developing a new blockchain, Lukso. In an interview with Cointelegraph, the ERC-20 inventor discussed his motivation for creating his multiverse blockchain, as well as the latest token standard developments in the sector.Continue Reading on Coin Telegraph More
In a July 26 hearing in United States District Court for the Southern District of New York, individuals on site reported Assistant U.S. Attorney Danielle Sassoon requested the revocation of SBF’s bail based on allegations he used his freedom to intimidate Ellison, his former romantic partner and colleague. According to Sassoon, SBF made roughly 100 calls to a reporter behind The New York Times story that revealed Ellison’s private online journals.Continue Reading on Coin Telegraph More
Joshua and Jessica Jarrett received a refund check from the IRS in 2021 after filing a lawsuit arguing the IRS had no right to tax income or profit from staked Tezos (XTZ), as the tokens were “created” and not sold. The couple originally reported the staked crypto as “other income” on their 2019 tax returns, resulting in a payment from them of $9,407. Later, they requested a partial refund as well as a tax credit from the IRS based on their income.Continue Reading on Coin Telegraph More
Notably, the series B funding round contrasts with the current trend among Silicon Valley venture capitalists.Flashbots, a Cayman Islands-based software provider that bundles Ethereum blockchain transactions, secured funding via “decentralization beauty contest.” This involves selecting investors through reverse pitches.The funding has led to a valuation of at least $1 billion, as confirmed by a Flashbots representative.Since 88% of validators collaborate with entities like Flashbots to receive additional fees, this valuation is expected.Flashbots specializes in developing software to address the issue of “maximal extractable value” (MEV), referring to the additional profit earned by blockchain operators beyond regular user fees. Techniques like front-running transactions, where operators pay fees to prioritize their trades ahead of others, contribute to MEV. The company’s latest technology, the single unifying auction for value expression (SUAVE), aims to reduce the risks associated with MEV by fostering transparency and decentralization in MEV-related opportunities.Five days after announcing its successful acquisition of approximately $30.4 million in funding, the company has achieved unicorn valuation, as reported in its filing with the Securities and Exchange Commission (SEC) on July 21.Flashbots has not been in the news for several months, with the most recent major headline being when the company faced public scrutiny in November.Then, the Office of Foreign Assets Control (OFAC) expanded its list of sanctioned addresses to encompass smart contracts for the first time, resulting in several repercussions for numerous Ethereum network users.The implementation of the censorship strategy coincided with the market’s transition to complete block submission, leading to a clear separation between block builders and validators.Validators lost the ability to individually add transactions to a block, signifying a notable change in the network’s functioning.The latest funding round is intended to support the development of SUAVE; the upgrade focused on censorship resistance. Given the previous controversy, critics will be keen to observe if this funding helps maintain transparency and efficiency within the crypto space.This article was originally published on Crypto.news More
During an internal meeting streamed on the SEC’s website, Chairman Gary Gensler invoked everything from his disdain for the color green to his feelings on romantic comedies while advocating for the changes that essentially seek to prohibit brokers from using “optimization functions,” or data analytics tools, to their benefit. Continue Reading on Coin Telegraph More
Bitcoin’s (BTC) volatility is likely to pick up following the Federal Reserve’s policy decision on July 26 and the subsequent commentary by Fed Chair Jerome Powell. Rather than the knee-jerk reaction to the event, it will be of interest to note where Bitcoin’s price settles down. Continue Reading on Coin Telegraph More
