Cryptocurrency

According to a report from Maeli Business News Korea, Hana Bank and Woori Bank — both private enterprises with headquarters in Seoul — showed interest in so-called “certificate of deposit” tokens (CDs). CDs are tokenized bank deposits put on the blockchain, replacing customary notes and deposits without disrupting the existing banking system. CDs also require identity verification of the same standards as any traditional bank service. Continue Reading on Coin Telegraph More

A whale address, which had been inactive for over a decade, caught the crypto community’s attention when it transferred all 1,037.42 BTC (equivalent to $30 million) to a new address with the identifier “bc1qtl.” The transaction came up as BTC aimed to reclaim the $30,000 territory.Citing on-chain data, blockchain surveillance platform Lookonchain emphasized that this mammoth transaction marks the first activity from this particular bitcoin holder since April 11, 2012, when they acquired 1,037.42 BTC at a price of $4.92 each.Remarkably, the value of their investment has surged by an astonishing 606,000% since the initial purchase. The current market price of bitcoin stands at a much higher value, and the whale’s decision to move the funds now could indicate their confidence in the market’s continued growth.Interestingly, despite the movement of this substantial BTC stash, the supply of Bitcoin last active in at least five years has managed to hit an all-time high. Glassnode disclosed today that the percentage of BTC supply last active for over five years reached a high of 29.126% – the highest rate ever recorded. This metric suggests that a significant portion of the circulating bitcoin has been held by long-term investors for an extended period, indicating increased confidence in the asset’s long-term potential. This indicates that long-term holders may be less likely to sell their Bitcoin at current market prices, further contributing to the supply shortage. As demand outpaces supply, the BTC price could experience upward pressure, leading to potential price appreciation.The analytics platform also revealed that the Bitcoin block height had towered above 800,000 shortly after the 800,000th block was mined, with a current block height of 800,005. This feat emphasizes the resilience of the Bitcoin network as the asset continues to aim for growth.Notably, BTC has continued to consolidate between $29,500 and $30,000 since dropping below $31,804 on Jul. 14. The bears have thwarted the asset’s goal to hold above $30,000. BTC is trading for $29,746 at the time of reporting, down 0.61% over the past 24 hours.This article was originally published on Crypto.news More

(Reuters) – Lawyers for FTX founder Sam Bankman-Fried rejected prosecutors’ claims that his discussions with a New York Times reporter amounted to witness tampering but agreed to accept a gag order, they said in a letter to the judge in the criminal fraud case.The letter, released on Sunday, came after prosecutors sought to bar Bankman-Fried and allies from making public statements that could interfere with the case.Cryptocurrency exchange FTX, once valued at $32 billion, filed for bankruptcy protection in November as it was unable to repay depositors. Bankman-Fried has pleaded not guilty to fraud.In the letter, Bankman-Fried’s attorney confirmed he had spoken with and provided personal documents to the New York Times that included documents written by a former colleague, Caroline Ellison, who has cooperated with the U.S. government.”Bankman-Fried did not violate the protective order in this case, nor did he violate his bail conditions, nor did he violate any law or rule governing his conduct,” Bankman-Fried’s lawyer Mark Cohen said in the letter.An article published by New York Times titled “Inside the Private Writings of Caroline Ellison, Star Witness in the FTX Case” reported excerpts from Ellison’s personal Google (NASDAQ:GOOGL) documents from before the collapse of FTX in which she spoke about being “pretty unhappy and overwhelmed” with her job and feeling “hurt/rejected” from her breakup with Bankman-Fried. Ellison led Bankman-Fried’s Alameda Research hedge fund and has pleaded guilty to defrauding investors and agreed to cooperate with prosecutors. In December, Bankman-Fried said he and Ellison had been in a relationship but gave no further details. More

(Reuters) -Worldcoin, a cryptocurrency project founded by OpenAI CEO Sam Altman, launched on Monday.The project’s core offering is its World ID, which the company describes as a “digital passport” to prove that its holder is a real human, not an AI bot. To get a World ID, a customer signs up to do an in-person iris scan using Worldcoin’s ‘orb’, a silver ball approximately the size of a bowling ball. Once the orb’s iris scan verifies the person is a real human, it creates a World ID.The company behind Worldcoin is San Francisco and Berlin-based Tools for Humanity.The project has 2 million users from its beta period, and with Monday’s launch, Worldcoin is scaling up “orbing” operations to 35 cities in 20 countries. As an enticement, those who sign up in certain countries will receive Worldcoin’s cryptocurrency token WLD.WLD’s price rose in early trading on Monday. On the world’s largest exchange, Binance, it hit a peak of $5.29 and at 1000 GMT was at $2.49 from a starting price of $0.15, having seen $25.1 million of trading volume, according to Binance’s website.Blockchains can store the World IDs in a way that preserves privacy and can’t be controlled or shut down by any single entity, co-founder Alex Blania told Reuters.The project says World IDs will be necessary in the age of generative AI chatbots like ChatGPT, which produce remarkably humanlike language. World IDs could be used to tell the difference between real people and AI bots online.Altman told Reuters Worldcoin also can help address how the economy will be reshaped by generative AI.”People will be supercharged by AI, which will have massive economic implications,” he said.One example Altman likes is universal basic income, or UBI, a social benefits program usually run by governments where every individual is entitled to payments. Because AI “will do more and more of the work that people now do,” Altman believes UBI can help to combat income inequality. Since only real people can have World IDs, it could be used to reduce fraud when deploying UBI. Altman said he thought a world with UBI would be “very far in the future” and he did not have a clear idea of what entity could dole out money, but that Worldcoin lays groundwork for it to become a reality.”We think that we need to start experimenting with things so we can figure out what to do,” he said. More

The committee will meet on July 26 to markup H.R. 4763, the Financial Innovation and Technology for the 21st Century Act; H.R. 4766, the Clarity for Payment Stablecoins Act of 2023; and H.R. 1747, the Blockchain Regulatory Certainty Act — among others. Continue Reading on Coin Telegraph More

The position is full-time and hybrid, with an annual salary starting at $134,900, requiring candidates to have “knowledge of distributed systems implementation, cryptographic protocols such as hashing, public-private keypairs and signing, consensus algorithms, and security.” Continue Reading on Coin Telegraph More

Based on the proposal, the PRT redemption price was established at $0.0045 per token. According to data from CryptoRank, the protocol raised over $89 million since its inception in 2021, with a current return on investment (ROI) of -89% for investors in its initial DEX offering (IDO) and initial exchange offering (IEO). Having a negative ROI indicates that investors have lost money on their investment.Continue Reading on Coin Telegraph More

XLM price has risen over 60% since July 13, when a federal judge ruled that the XRP sales on public exchanges did not break U.S. securities laws. Still, the token is down about 20% from its local peak of $0.195 and was changing hands for about $0.154 on July 23.Continue Reading on Coin Telegraph More