New Ethereum Proposal Aims to Boost Throughput by 50%
Home About News Partners Contact Home About News Partners Contact Swap Welcome to the world of crypto New Ethereum Proposal Aims to Boost Throughput by 50% A new Ethereum Improvement Proposal (EIP-7781), introduced by Ben Adams on October 5, could significantly increase the Ethereum network’s efficiency. If approved, the proposal would reduce block times from 12 seconds to 8 seconds, resulting in a 50% boost in throughput. It also aims to increase blob capacity, which could reduce layer-2 network fees and improve the performance of decentralized exchanges (DEXs). Ethereum developer Cygaar referred to EIP-7781 as a critical step toward improving Ethereum’s base layer, complementing the growing focus on layer-2 scaling solutions. By lowering block times, decentralized exchanges like Uniswap v3 could see a 22% increase in efficiency, potentially saving users up to $100 million in arbitrage costs annually. However, concerns have been raised about the impact on solo stakers. Shorter block times may require more powerful hardware and faster bandwidth, making it harder for individual stakers to participate. Despite these challenges, the proposal has received support from Ethereum Foundation researcher Justin Drake, aligning with Vitalik Buterin’s broader goals for Ethereum scalability. Live News © 2024 CMTLive Telegram Twitter Medium
10 Years with USDT Tether Documentary Teaser
Home About News Partners Contact Home About News Partners Contact Swap Welcome to the world of crypto 10 Years with USDT Tether Documentary Teaser Tether has announced a documentary to commemorate the 10th anniversary of USDT, highlighting its impact on financial inclusion and inflation combat. In a recent post, CEO Paolo Ardoino emphasized the company’s commitment to serving those “left behind” by traditional banking systems. The documentary’s trailer features interviews with users from high-inflation countries like Turkey, Brazil, and Argentina, showcasing how USDT acts as a vital financial tool. One Brazilian user noted that USDT constitutes 90% of daily transactions in the country, illustrating the stablecoin’s growing importance. In 2023, USDT adoption in Brazil surged, accounting for 80% of crypto transactions. Launched on October 6, 2014, Tether was founded by Brock Pierce, Reeve Collins, and Craig Sellars. Originally operating on the OmniLayer platform, USDT now functions across various blockchains. With a market cap of $120 billion, it remains the largest stablecoin and the third-largest cryptocurrency overall. Ardoino reaffirmed Tether’s mission to empower communities in developing nations lacking access to traditional banking services. Live News © 2024 CMTLive Telegram Twitter Medium
Coinbase urges court to reconsider appeal
Home About News Partners Contact Home About News Partners Contact Swap Welcome to the world of crypto Coinbase urges court to reconsider appeal In June 2023, the SEC sued Coinbase, accusing the crypto exchange of selling unregistered securities. Now, Coinbase is urging a New York judge to reconsider an interlocutory appeal it filed in April 2024, using the SEC’s appeal in the Ripple case to strengthen its argument. In an Oct. 5 letter, Coinbase’s legal team argued that the SEC’s appeal in Ripple shows ambiguity in the application of the Howey Test—the criteria used to determine whether an asset is a security. Coinbase claims this issue affects the entire industry, requiring further legal review. The exchange’s lawyers emphasized the urgent need for appellate review, stating that the SEC’s actions in the Ripple case confirm the far-reaching implications of the Howey Test’s application to digital assets. They argue that the SEC’s handling of these cases reflects the lack of clear guidelines for classifying digital assets. As of October 2024, the court has not yet ruled on Coinbase’s request for an appeal, and the SEC has requested more time for discovery. Coinbase is also pressing the Commodities Futures Trading Commission (CFTC) for communications with token issuers to clarify which assets fall under securities regulation. Live News © 2024 CMTLive Telegram Twitter Medium
Ancient Bitcoin Whale Moves Millions to Kraken
Home About News Partners Contact Home About News Partners Contact Swap Welcome to the world of crypto Ancient Bitcoin Whale Moves Millions to Kraken A Bitcoin whale from 2009 has moved a large sum of BTC to Kraken, according to Arkham Intelligence. This “ancient” whale, who mined Bitcoin just a month after the cryptocurrency’s launch, transferred 10 BTC, worth $610,000, on Oct. 3. In total, the whale has moved $3.58 million since Sept. 24. Previously dormant for almost a decade, the wallet—holding 1,169 BTC (around $72.4 million)—has sparked renewed speculation about Bitcoin’s early days and its pseudonymous creator, Satoshi Nakamoto. Interestingly, this news comes ahead of HBO’s release of Money Electric: The Bitcoin Mystery, a documentary that promises to reveal Nakamoto’s true identity, with Len Sassaman, a cypherpunk who passed away in 2011, rumored to be the prime candidate. Live News © 2024 CMTLive Telegram Twitter Medium
Lejilex Accuses SEC of Regulatory Overreach
Home About News Partners Contact Home About News Partners Contact Swap Welcome to the world of crypto Lejilex Accuses SEC of Regulatory Overreach Lejilex, a Texas-based crypto startup, has escalated its legal battle with the U.S. Securities and Exchange Commission (SEC), accusing the agency of overstepping its authority. The company is seeking a preemptive ruling from a Texas federal court to clear it from potential SEC enforcement before it launches its crypto exchange by the end of 2024. In its Oct. 3 brief, Lejilex claimed that its platform would facilitate crypto transactions, not sell securities, and criticized the SEC’s attempts to regulate digital assets under traditional securities laws. Lejilex argued that the SEC’s “massive regulatory land grab” aims to expand its power without justification. The SEC, however, countered that the lawsuit seeks to declare that cryptocurrencies can never be considered securities, a stance the agency disputes. Lejilex co-founder Mike Wawszczak expressed frustration, stating, “We wish we were launching our business instead of filing a lawsuit, but here we are.” This case reflects ongoing tensions between the crypto industry and the SEC, as companies seek clarity on regulatory boundaries. Live News © 2024 CMTLive Telegram Twitter Medium