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South Korea’s parliamentary ethics subcommittee has voted down a motion to expel Kim Nam-kuk, a former member of the mai...
16/09/2023

South Korea’s parliamentary ethics subcommittee has voted down a motion to expel Kim Nam-kuk, a former member of the main opposition Democratic Party.

A parliamentary ethics subcommittee of South Korea has voted down a motion to expel Kim Nam-kuk, a former member of the main opposition Democratic Party (DP), the local news agency Yonhap reported on Aug. 30.

Kim Nam-kuk at a plenary session at the National Assembly in Seoul on Aug. 24, 2023. Source: Yonhap

U.Today - The Foundation just pulled the curtain back on its latest innovation: the , or EELS.EELS has been in the works...
16/09/2023

U.Today - The Foundation just pulled the curtain back on its latest innovation: the , or EELS.

EELS has been in the works for over a year and aims to replace the Yellow (OTC:YELLQ) Paper as the go-to guide for Ethereum's inner workings. But unlike its predecessor, EELS is not stuck in the past. It is fully up-to-date with all the latest forks and offers a user-friendly approach that is geared toward programmers.

What is EELS? It provides a complete snapshot of the protocol at every fork, including the ones still on the drawing board. This is a big deal because, until now, Ethereum Improvement Proposals (EIPs) have only ever suggested changes.

They have not given developers a full picture of how those changes fit into the existing framework. EELS solves this problem by offering a comprehensive, easy-to-follow guide that could become the new gold standard for Core EIPs.

The announcement of Patricia Token (PTK) by Nigerian crypto exchange Patricia was greeted by users with scepticism and s...
15/09/2023

The announcement of Patricia Token (PTK) by Nigerian crypto exchange Patricia was greeted by users with scepticism and some suspicion as they took to social media to question the motives behind the move. Now, in a response to that reaction, the crypto exchange company has released a white paper seeking to explain the intended function of Patricia Token.

According to the released white paper, Patricia Token is not a stablecoin but a debt token issued to customers to manage users’ debt. Patricia said it would operate similarly to an IOU (I owe you) document, serving as a means for the exchange to acknowledge its debt to its users and promising to pay holders 1 Tether (USDT) for each Patricia Token in the future.

U.Today - In a stunning turn of events, insiders appear to have gained a significant edge on the crypto markets, with da...
15/09/2023

U.Today - In a stunning turn of events, insiders appear to have gained a significant edge on the crypto markets, with data from revealing a remarkable accumulation surge within shark and whale wallets. This noteworthy uptick in accumulation occurred right before the breaking news of the landmark v. SEC ruling.

The timing could not have been more precise, as individuals behind wallets containing between 10 and 10,000 BTC amassed a staggering $388.3 million, equivalent to 14,596 BTC, in Bitcoin on the day leading up to the announcement. As a result, this accumulation craze was rewarded handsomely, with Bitcoin's price experiencing a 6% surge, reaching a two-week pinnacle of $28,142 per

Crypto.news - Bitcoin critic Peter Schiff warns that Grayscale’s recent legal victory in converting its GBTC to a spot B...
14/09/2023

Crypto.news - Bitcoin critic Peter Schiff warns that Grayscale’s recent legal victory in converting its GBTC to a spot Bitcoin ETF could be bearish for the cryptocurrency.

Schiff wrote in an Aug. 29 tweet, “GBTC becoming a spot ETF is actually bearish for Bitcoin.” He explained that traders can buy GBTC now and sell or short BTC. He added that once GBTC becomes an ETF, the discount to net asset value goes away.

The comment follows Grayscale Investments LLC securing judicial backing for initiating a Bitcoin spot ETF in the United States. Three federal judges annulled the SEC’s decision to prevent GBTC’s conversion to a spot Bitcoin ETF, allowing it to move forward instead.

Defunct crypto lending firm BlockFi has applied to a court to request the transfer of “trade-only” assets from its users...
14/09/2023

Defunct crypto lending firm BlockFi has applied to a court to request the transfer of “trade-only” assets from its users’ accounts into stablecoins so the individuals could withdraw them. The request marks another step toward the return of users’ funds, a process that the company began in August.

On Aug. 29, BlockFi filed an application to the United States Bankruptcy Court for the District of New Jersey to authorize the conversion of the so-called trade-only assets into stablecoins. The assets in question — Algorand’s native token, ALGO, Bitcoin Cash (B*H) and Dogecoin (DOGE) — cannot be withdrawn easily, and BlockFi suggests a one-time exchange for Gemini Dollar (GUSD) or another stablecoin.

Fun fact: mobile gaming giant Zynga (NASDAQ:ZNGA) is owned by Take-Two (NASDAQ:TTWO) Interactive, the same company that ...
12/09/2023

Fun fact: mobile gaming giant Zynga (NASDAQ:ZNGA) is owned by Take-Two (NASDAQ:TTWO) Interactive, the same company that also owns Rockstar Games, which is behind ultra-popular video game series like Grand Theft Auto, Red Dead Redemption and NBA 2K.

Now Zynga is making its Web3 debut with a new franchise.

The United States Department of Commerce said on Aug. 31 that the Biden administration has “not blocked chip sales to th...
12/09/2023

The United States Department of Commerce said on Aug. 31 that the Biden administration has “not blocked chip sales to the Middle East,” according to a report from Reuters.

This comes after disclosures were revealed in a Nvidia (NASDAQ:NVDA) report that the U.S. government had expanded requirements for export licenses for artificial intelligence (AI) chips.

(Reuters) -Binance's global head of product, Mayur Kamat, has resigned amid a string of executive exits and job cuts at ...
11/09/2023

(Reuters) -Binance's global head of product, Mayur Kamat, has resigned amid a string of executive exits and job cuts at the cryptocurrency exchange, a spokesperson for the company told Reuters on Monday.

Kamat's exit follows a recent executive exodus from Binance that includes Chief Strategy Officer Patrick Hillmann and General Counsel Hon Ng.

The cryptocurrency exchange has lately been under heavy regulatory scrutiny in the United States, where regulators aggressively clamp down on what they deem are illegal activities.

The Securities and Exchange Commission (SEC) sued Binance and CEO Changpeng Zhao in June for allegedly operating a "web of deception," listing 13 charges, including claims the company artificially inflated its trading volumes, diverted customer funds and failed to restrict U.S. customers from its platform.

Binance has said it would defend itself vigorously.

The company also laid off a number of employees in July.

In a recent X (formerly Twitter) post, Cathie Wood, the CEO of ARK Invest, expressed her optimistic view on the intersec...
11/09/2023

In a recent X (formerly Twitter) post, Cathie Wood, the CEO of ARK Invest, expressed her optimistic view on the intersection of Bitcoin (BTC) and artificial intelligence (AI)

In the post, Wood hinted at the transformative potential in the dynamic synergy between AI and Bitcoin, emphasizing the possibilities and positive implications the technologies hold for diverse industries and the overall economic landscape

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