When asked if this was the case in the comments, L3yum confirmed this was the likely path forward but suggested it hasn’t been confirmed yet.
“This is the part I’m unsure about but yeah from my understanding this is how it works and the funds that are blacklisted are essentially burnt. Don’t quote me on that though, but that is my understanding!” he wrote.
The year-over-year increase in bitcoin revenue and gross profit was driven by an increase in the quantity of bitcoin sold to customers, partially offset by a decrease in the average market price of bitcoin compared to the prior-year period.
However, Armstrong’s vision was met with questions from long-standing Bitcoin (BTC) supporters like Michael Saylor, the former CEO of MicroStrategy, and Jack Dorsey, who previously owned Twitter before it was acquired by Elon Musk last year.
Saylor recommended the integration of Bitcoin Lightning on Coinbase, while Dorsey inquired about the superior money transmission protocol compared to Bitcoin. Armstrong responded, clarifying that Coinbase has boarded more people to Bitcoin than any other company.
As previously reported by Cointelegraph, Sushi “head chef” Jared Grey addressed concerns following a subpoena from the United States Securities and Exchange Commission. This led to the establishment of a cautionary $3 million Sushi DAO legal defense fund to combat any potential legal issues in the future.
The British oil giant received some criticism after it announced a decision to maintain current oil production levels until the decade ends. Activist shareholder group Follow This believes that avoiding new output cuts pushes Shell “on a collision course” with the 2015 Paris Agreement. The agreement includes several points, including a long-term global warming goal and a target to reduce greenhouse gas emissions every five years.
After the judge’s ruling that the programmatic sale of XRP tokens through exchanges does not classify them as securities, a new question emerges regarding the potential legal implications if the SEC decides to appeal against the ruling. Deaton, who represents more than 75,000 XRP tokenholders, elaborated on the possible scenarios and intricacies of enforcing the summary judgment.
Indonesia began its journey to establish a national crypto exchange in 2021. However, due to the meticulous review process of potential participants, the launch, initially planned for the end of 2022, was delayed until July 2023. The Trade Minister of Indonesia, Zulkifli Hasan, revealed that licensed traders in Indonesia can now join the national exchange within a specified window, enabling them to participate actively in the country’s growing crypto market.
Last year, Indonesia’s deputy minister of trade, Jerry Sambuaga, proposed policy changes in response to the growing interest in digital assets. One of the proposals required two-thirds of the directors and commissioners of crypto firms to be Indonesian citizens.
In another development, crypto trading platform FTX has sued Sam Bankman-Fried and his close allies to recover null billion in questionable transactions. The recent lawsuit is part of the efforts by FTX to revive the exchange, under the leadership of new CEO John Ray.
The lawsuit targets Bankman-Fried, Gary Wang (FTX co-founder and former chief technology officer), Nishad Singh (former director of engineering), and Caroline Ellison (co-chief executive of Alameda Research LLC, a significant FTX unit). All of them face accusations of doing dishonest transfers that personally benefited them but didn’t benefit FTX.
A community-operated Minecraft server by the name of “Satlantis” has integrated Zebedee’s gaming tech that lets players earn Bitcoin by completing in-game quests inspired by real-life BTC mining. Players in the server can join in-game mining pools, collect ASICs (popular hardware tailored for Bitcoin mining) and increase their hash rate to win block rewards. What a cool way to educate traditional gamers on the basics of Bitcoin!
Players can withdraw their earnings to Zebedee’s app, where they can spend their gains on other games made by the company or move them to exchanges that support Bitcoin’s layer-2 Lightning Network.