MLM Network Zone

Ammous’ expertise in Bitcoin and economics will be a valuable addition to the Bitcoin Office’s mission. bit.ly/3f7o14k http://dlvr.it/SpvWdF

According to a report published by the cybersecurity research team known as 0d, a division of Dwallet Labs, researchers discovered a critical vulnerability in the Tron network’s native multi-sig mechanism. The cybersecurity experts explained that the vulnerability could have impacted more than $500 million worth of digital assets held in Tron multi-sig accounts. 0d specified that Tron’s development team addressed the problem by creating a patch for the bug. Cybersecurity Researchers Summarize Bug Found Tied to Tron’s Multisig Mechanism, Tron Devs Patch the Vulnerability On May 30, 2023, the research team 0d from Dwallet Labs published a report that uncovers a vulnerability in Tron’s native multisig scheme. The vulnerability enables any signer of a multi-sig account to bypass the network’s security measures, irrespective of the designated threshold and number of signers. “This vulnerability impacts over $500M in digital assets that are held in Tron multi-sig accounts,” 0d reported o...

Headquartered in Dubai, Bybit plans to leave Canada while exploring expansion into new markets like Kazakhstan. from Cointelegraph.com News https://ift.tt/1gTAEeW via IFTTT

BTC’s historically low volatility could abruptly change in June, with long-term holders making moves and options traders showing an uptick in bearish positions. from Cointelegraph.com News https://ift.tt/XzLTtbg via IFTTT

After announcing its plan to invest 15% of profits into bitcoin, the company Tether Limited has taken another step toward its crypto goals. Tether, the stablecoin issuer, has revealed its latest venture: “sustainable bitcoin mining operations in Uruguay.” Tether has partnered with a licensed local company to make this happen, as it believes Uruguay is the ideal location for bitcoin mining production. Tether’s Bitcoin Mining Operations Take Root in Uruguay Tether, the issuer of the largest stablecoin in terms of market capitalization, said it is gearing up to invest in energy production resources and establish sustainable bitcoin ( BTC ) mining operations in Uruguay. Paolo Ardoino, the CTO of Tether, elaborated on their vision, expressing that the team behind energy production and bitcoin mining is actively seeking talented individuals to join their venture. In a recent blog post , Tether revealed that it has partnered with a local company in Uruguay to kickstart these operations. ...

A bankruptcy judge denied a motion for an independent examiner in February, leading to an appeal that may now go to the U.S. Court of Appeals for the Third Circuit. from Cointelegraph.com News https://ift.tt/y7oKqT6 via IFTTT

The SEC suit alleged former Coinbase product manager Ishan Wahi and his brother used non-public knowledge to trade digital asset securities. from Cointelegraph.com News https://ift.tt/DfvuHIF via IFTTT

Filmmaker and entrepreneur Alana Mediavilla discusses her documentary “Dirty Coin,” misconceptions about Bitcoin’s energy use and more. bit.ly/3f7o14k http://dlvr.it/SprTsV

According to Representative Warren Davidson, legislation to address the U.S. debt ceiling blocks “proposed taxes,” including a 30% tax on electricity used by crypto miners. from Cointelegraph.com News https://ift.tt/evoUfWa via IFTTT

On May 29, Huobi HK announced its expansion of services after Hong Kong implemented its new crypto exchange license system. The platform now provides spot and custodial services to both retail and institutional customers in Hong Kong. Huobi’s update comes shortly after Huobi Global faced regulatory hurdles in Malaysia, where authorities prohibited the operation of its crypto trading platform without a proper permit. Huobi HK Launches Spot Trading and Managed Services in Hong Kong Huobi Global’s Hong Kong trading arm Huobi HK has announced it is offering spot trading services and custodial solutions to retail and professional traders. Hong Kong’s new licensing regime was launched in May with help from Hong Kong’s Securities and Futures Commission (SFC) CEO Julia Leung. Leung said at the end of April that the effort could make Hong Kong “more attractive [and] more competitive” for “international and Mainland capital.” Crypto trading platforms will be regulated by the regulator’s Fin...

Laotian Prime Minister Sonexay Siphandone chaired the inaugural Ministerial Conference on Blockchain 4.0 Digital Transformation. from Cointelegraph.com News https://ift.tt/x7rGeaA via IFTTT

Lawmakers in Japan have decided to enforce stricter Anti-Money Laundering measures to trace cryptocurrency transactions from June 1. from Cointelegraph.com News https://ift.tt/WjPZ3as via IFTTT

Bitcoin mining company U.S. Bitcoin Corp (USBTC) has announced its intention to employ the mining assets of Celsius, the defunct crypto lender. The development follows the acquisition of application-specific integrated circuit (ASIC) machines from the bankrupt company by the Fahrenheit coalition, of which USBTC is a member. USBTC said it aims to revive the fleet of 121,800 Celsius machines and foresees a 12.2 exahash per second (EH/s) boost to its mining operations. US Bitcoin Corp Assumes Control of Restructured Celsius Mining Unit According to an announcement on May 25, 2023, U.S. Bitcoin Corp (USBTC) has plans to utilize the mining assets of the now-bankrupt crypto lender, Celsius . After multiple rounds of bidding for the restructured mining division of Celsius, USBTC submitted a winning bid for the Fahrenheit coalition. The Fahrenheit coalition is a group that consists of Ravi Kaza, Steven Kokinos, Proof Group Capital Management, Arrington Capital, and USBTC. Following the res...

American Express plans to extend its AI capabilities through partnerships despite having experimented internally with numerous machine learning-powered services. from Cointelegraph.com News https://ift.tt/ouKRjD7 via IFTTT

For Bitcoiners, honoring service members on Memorial Day does not have to mean siding with the military industrial complex. bit.ly/3f7o14k http://dlvr.it/SppcLt

A crypto insurance provider will typically assess at least 2,000 variables across 20 risk areas before they even consider insuring a platform, according to an insurance executive. from Cointelegraph.com News https://ift.tt/ke3COp4 via IFTTT

Russia’s second-largest bank’s chairman says there is every reason to expect the Chinese yuan to replace the U.S. dollar as the world’s main reserve currency. He highlighted that the central bank of Russia has already begun investing its reserves in yuan, and over 70% of the trade turnover between Russia and China is settled in yuan along with the ruble. VTB Bank President Expects Chinese Yuan to Replace US Dollar as World’s Reserve Currency Russia’s VTB Bank Chairman Andrey Kostin reportedly said at a Russian-Chinese business forum in Shanghai last week that the Chinese yuan will replace the U.S. dollar as the world’s reserve and settlement currency in the next 10 years. “China is now the world’s second-largest economy and will soon become the first,” he was quoted by Sputnik as saying. The executive added: There is every reason to expect that the Chinese yuan will replace the U.S. dollar as the world’s main reserve and settlement currency as early as the next decade. “In fact...

BTC and stocks look to rally after US lawmakers potentially reach a deal on the debt ceiling. from Cointelegraph.com News https://ift.tt/t0fQpiY via IFTTT

During an interview, Michael Saylor discussed how crypto networks like Bitcoin can promote security and combat digital trust issues. from Cointelegraph.com News https://ift.tt/1Inmo46 via IFTTT

The development bank set up by the BRICS bloc is negotiating with Saudi Arabia on accepting the country as a member, according to a press report. The talks come as the bank, created as an alternative to similar institutions led by the West, seeks to expand its funding options amid sanctions on one of its founding shareholders, Russia. BRICS Development Bank Engaged in ‘Qualified Dialogue’ With Saudi Kingdom The Shanghai-based New Development Bank ( NDB ), established by the BRICS nations (Brazil, Russia, India, China, and South Africa), is in talks with Saudi Arabia on admitting the country as a member, the Financial Times reported. The negotiations come as the NDB prepares to evaluate its options to attract funding during its annual meeting starting on Tuesday, affected by the penalties imposed on Russia following its invasion of Ukraine, the British daily noted. “In the Middle East, we attach great importance to the Kingdom of Saudi Arabia and are currently engaged in a qualifie...

Roughly three months ago, 74 AI-driven digital currencies boasted a market value exceeding $4 billion. However, since that time, the AI-centric crypto market has experienced a loss of more than $1 billion in value. The Decline in AI-Driven Cryptocurrencies: $1 Billion Wiped Out From Market At the start of the year, products incorporating artificial intelligence (AI) witnessed substantial demand with the rise of AI-focused software noted throughout 2023. This trend permeated into the cryptocurrency sphere, resulting in up to 74 AI-centric tokens amounting to a value of $4.03 billion by the end of February. At its peak, the AI crypto market recorded a $444.39 million 24-hour trade volume on February 27, 2023. Presently, both trade volume and market valuation within the AI crypto sector have significantly decreased. Data from cryptoslate.com reveals that a total of 89 crypto assets tied to AI are currently valued at $2.93 billion. Despite an additional 15 AI-centric tokens being i...

“I will explain why I allocate a share of my wealth to bitcoin and how I see it as ideal for preserving the value of my net worth.” bit.ly/3f7o14k http://dlvr.it/SplR2H

Rich Dad Poor Dad author Robert Kiyosaki says America is bankrupt as lawmakers engage in lengthy negotiations over the debt ceiling. “Unfunded liabilities as Social Security are over $250 trillion,” he said as the U.S. faces a potential debt default. Robert Kiyosaki on U.S. Debt Crisis The author of Rich Dad Poor Dad, Robert Kiyosaki, has shared his perspective on the U.S. debt crisis and the lengthy negotiations surrounding the debt ceiling. Rich Dad Poor Dad is a 1997 book co-authored by Kiyosaki and Sharon Lechter. It has been on the New York Times Best Seller List for over six years. More than 32 million copies of the book have been sold in over 51 languages across more than 109 countries. “Politicians debating raising $30 trillion U.S. debt limit bad comedy, ‘Kabuki theater,’” Kiyosaki tweeted Wednesday, adding: Facts are: U.S. bankrupt. Unfunded liabilities as Social Security are over $250 trillion. Financial market ‘derivative assets’ measured in quadrillions … thousands o...

U.S. Treasury Secretary Janet Yellen has updated her projection regarding the date the U.S. government could default on its debt obligations. She warned that the Treasury “will have insufficient resources to satisfy the government’s obligations if Congress has not raised or suspended the debt limit by June 5.” Yellen Warns US Could Default on June 5 U.S. Treasury Secretary Janet Yellen has revised her estimate for the potential date of a U.S. default. In a letter she sent to all congressional leaders Friday regarding the debt limit, Yellen wrote: Based on the most recent available data, we now estimate that Treasury will have insufficient resources to satisfy the government’s obligations if Congress has not raised or suspended the debt limit by June 5. “We will make more than $130 billion of scheduled payments in the first two days of June, including payments to veterans and Social Security and Medicare recipients. These payments will leave Treasury with an extremely low level o...

FTX reboot is in the works, Multichain issues spark uncertainty and Sam Altman’s crypto project Worldcoin raises millions of dollars. from Cointelegraph.com News https://ift.tt/THFVOy7 via IFTTT

Florida’s 46th Governor, Ron DeSantis, recently declared his candidacy for the U.S. presidency in 2024 and has since participated in several interviews. While conversing with Dana Loesch on The Dana Show, DeSantis criticized the U.S. Internal Revenue Service (IRS) as a “corrupt organization” and no ally to the typical American citizen. DeSantis Discusses Single-Rate Tax Proposals, Insists IRS Is No Friend of the Average American Following Joe Biden ‘s inauguration, he substantially expanded the IRS, and his 2024 budget plan aims to further enlarge the U.S. tax agency. Biden recently said he will reject Republican negotiations regarding the debt ceiling that would constrain his plans to bolster the nation’s tax revenue service. Subsequent to Ron DeSantis’s announcement last week, the Florida governor expressed his viewpoints in interviews with Ben Shapiro and Dana Loesch. During his dialogue with Loesch, DeSantis addressed the IRS when The Dana Show host inquired about his stan...

From time to time, rumors surface that Grand Theft Auto 6 will integrate cryptocurrency, fueling expectations that the franchise may make its way to Web3. from Cointelegraph.com News https://ift.tt/fadVogS via IFTTT

Trading within a Russia-led regional organization has effectively moved away from the U.S. dollar, according to the deputy head of the Russian government. The use of national currencies in the bloc’s transactions has reached around 90%, the official pointed out. EAEU Replaces Dollar in Trade With National Currencies, Russian Official Says Trade between member states of the Eurasian Economic Union (EAEU) has been “de-dollarized,” Russia’s Deputy Prime Minister Aleksey Overchuk told media on the sidelines of the organization’s summit in Moscow. Asked by journalists whether it’s realistic to completely give up on the U.S. dollar, Overchuk noted that the greenback did have its role but emphasized it was not Russia who “weaponized” it, referring to multiple statements in that vein by Russian President Vladimir Putin. “When we are cut off from the dollar and from the euro, we will definitely not sit idly by. We will look for other currencies for mutual settlements,” the representative o...

Calling Bitcoiners “tax evaders” or imposing arbitrary tariffs can’t stop the inevitable progression of technology. bit.ly/3f7o14k http://dlvr.it/Spj7wX

The European Central Bank exercise looked at a variety of use cases, most of which were quite satisfactory, as well as the use of self-custodied wallets. from Cointelegraph.com News https://ift.tt/uqHfQKs via IFTTT

As calls for the creation of a global alternative to the greenback grow, credit rating agency Moody’s said on May 25 that rival currencies such as the euro and the Chinese yuan do not yet threaten the U.S. dollar’s position as the world’s reserve currency. The agency said a confidence-sapping policy mistake such as the U.S. Congress’s failure to raise the debt limit poses the “greatest near-term danger to the dollar’s position.” Rival Currencies Cannot Match the U.S. Dollar’s Core Traits The global credit rating agency Moody’s has said while the spectre of the U.S. dollar losing its dominance is real, at the moment there are no viable alternatives to take its place. In a note reportedly released on May 25, Moody’s insisted that the current rivals to the greenback such as the euro and the Chinese yuan will not be able to quickly match the core traits that made it the most dominant currency. As has been reported by various media outlets including Bitcoin.com News, the dollar’s longs...

DeFi saw another multimillion-dollar rug pull this past week, and the Multichain saga continues to spiral out of control. from Cointelegraph.com News https://ift.tt/sqDhel3 via IFTTT

Cointelegraph analyst and writer Marcel Pechman explains why the cryptocurrency market has lost 60% of its market cap, with the S&P 500 only about 15% from its all-time high. from Cointelegraph.com News https://ift.tt/uDExeOI via IFTTT

Digital Currency Group has revealed its decision to sunset its institutional trading platform, Tradeblock, on May 31, 2023. The company attributes the move to the “challenging regulatory environment” and the enduring effects of the “prolonged crypto winter,” signaling the conclusion of its subsidiary’s operations. DCG to Shut Down Institutional Trading Arm Tradeblock by the Month’s End According to a DCG spokesperson who spoke with Bloomberg, Digital Currency Group (DCG) has decided to close its trading platform, Tradeblock, this month. The Connecticut-based institutional trading platform, founded by Greg and Jeff Schvey in 2013, was acquired by crypto news outlet Coindesk in January 2021. Tradeblock successfully raised $53.1 million across five funding rounds since its inception. In a statement sent to reporters Olga Kharif, Anna Irrera, and Hannah Mille, a DCG spokesperson confirmed that Tradeblock is set to cease operations on May 31. Notably, the trading platform provided tra...

The highly accessible introductory text mentions all the concepts and names a curious reader would need, along with some assessments. from Cointelegraph.com News https://ift.tt/Apo5VYK via IFTTT

Luxor describes its newly-released methodology for improving the accuracy of Bitcoin mining difficulty predictions. bit.ly/3f7o14k http://dlvr.it/SpfFGP

Ron DeSantis understands the ethos of cryptocurrency. For single-issue crypto holders, that puts him ahead of the pack in the 2024 presidential race. from Cointelegraph.com News https://ift.tt/1nOTsl9 via IFTTT

The World Economic Forum analyzed regulatory approaches to urge cooperation between international organizations, regulators and the crypto industry. from Cointelegraph.com News https://ift.tt/qIHjcPX via IFTTT

The government of Venezuela is seeking to regain control of more than $1.8 billion in gold deposited in the vaults of the Bank of England. Officials of Maduro’s government appealed to the London Court of Appeals that the destitution of Juan Guaido, the former interim president, could affect the considerations London makes on access to the gold. Venezuela Seeks to Regain Control of Its Gold Stash in UK Venezuela is again appealing the decision of the U.K. High Court on the ownership and management of more than $1.8 billion in gold that is currently held in the vaults of the Bank of England. This judicial battle has been ongoing since January 2019, when the U.K. High Court declined to transfer the gold to the government of Nicolas Maduro, on the basis of the U.K. government’s recognition of then interim president Juan Guaido. Guaido was deposed from his position as interim president in December 2022, when the Legislative Assembly, elected back in 2015, voted to disintegrate the in...

Inflation concerns and the U.S. debt standoff cast a long shadow over Bitcoin’s dwindling bullish prospects. from Cointelegraph.com News https://ift.tt/iylD8km via IFTTT

Researchers at Meta AI may have developed a way to get around the “tokenization” problem with GPT models. from Cointelegraph.com News https://ift.tt/HkmEeOr via IFTTT

According to statistics, the liquid staking platform Lido accounted for 7.45% of the total value locked in decentralized finance (DeFi) a year ago today. Since then, Lido’s market dominance has significantly increased over the last 12 months to its current 26.18% share. Lido’s Market Share in Liquid Staking ETH Derivatives Stands at 73% The liquid staking protocol Lido Finance holds a prominent position in the world of DeFi. As of May 25, 2023, there is $46.6 billion locked into defi applications and protocols, with Lido’s total value locked (TVL) representing 26.18% of that amount. At the time of writing, 11:45 a.m. Eastern Time on Thursday, Lido’s TVL stands at approximately $12.2 billion, according to metrics from defillama.com. According to Lido’s website , the current value locked in the protocol is $12.27 billion, with $12.11 billion representing ethereum ( ETH ). The remaining portion of value held in Lido originates from networks such as Polkadot, Solana, Polygon, and Kus...

Join us as we discuss the current U.S. debt ceiling crisis and what it means for Bitcoin and the crypto market. from Cointelegraph.com News https://ift.tt/D8oaIC7 via IFTTT

Ideological battle lines are being drawn around artificial intelligence, and Bitcoiners need to enter the fray. bit.ly/3f7o14k http://dlvr.it/Spb5xx

KyberSwap , a leading decentralized exchange (DEX) platform, is thrilled to announce they will be resuming its highly anticipated Elastic protocol on May 25, 2023. This brings back key capital-efficient features such as concentrated liquidity and full range fees compounding, while incorporating significant security enhancements, including a newly audited smart contract, round-the-clock live scanning in collaboration with security partners, and the introduction of an Insurance Fund. KyberSwap Elastic will resume with improved smart contracts that have undergone internal audits as well as external audits with ChainSecurity and the community whitehat developer that spotted the smart contract vulnerability earlier in April. Further smart contract audits are being planned with other auditors. The comprehensive audit report by ChainSecurity can be found here . In addition to fortified smart contracts, KyberSwap has implemented enhanced security measures of its own. This includes a real-t...

On May 22, 2023, a report released by the blockchain analysis firm TRM Labs delved into nearly 40 hacks and assaults on cryptocurrency projects within the first quarter, discovering a 70% decline in incidents over the previous three months. The study says the slowdown is probably temporary, with over half of the purloined funds being reclaimed by hacking victims in Q1 2023. Crypto Crime Cools: Hacks and Attacks Plummet 70% in Q1 2023 TRM Labs approximates that close to $400 million was pilfered in Q1 2023 from almost 40 separate crypto infiltrations and attacks. This statistic has plunged by around 70% compared to Q1 2022, as per the findings of the blockchain analytics firm. Moreover, this year’s first quarter recorded lower figures than any quarter of 2022 since the typical hack amounted to $10.5 million. In contrast, the mean hack value during Q1 2022 reached over $30 million, experiencing a comparable count of nearly 40 incidents. A notable disparity between this year’s and l...

Bitcoin bears benefit from the current macroeconomic uncertainty and are aiming for a $270 million profit if the BTC price falls below $25,000. from Cointelegraph.com News https://ift.tt/NSDROCJ via IFTTT

The bug would have allowed malicious validators to compromise the network and applications that rely on it, including Celer’s cBridge. from Cointelegraph.com News https://ift.tt/VLOpHu3 via IFTTT

The larger portion of payments between Russia and China are now processed using the currencies of the two countries, Prime Minister Mikhail Mishustin revealed. Moscow and Beijing intend to increase mutual trade beyond the $200-billion target this year, added the head of the Russian government. Mishustin: 70% of Settlements Between Russia and China Conducted in National Currencies Around 70% of cross-border settlements between the Russian Federation and the People’s Republic of China are already carried out in national currencies — the ruble and the yuan, according to Russia’s Prime Minister Mikhail Mishustin. During talks in Beijing with his Chinese counterpart, Li Qiang, he highlighted the positive trends in the trade relations between the two countries in a number of areas, stating, quoted by the RIA Novosti news agency: I am sure that this year we will not only fulfill the task set by the heads of state to increase mutual trade to $200 billion ahead of schedule, but we will al...