Author: NBTC

Polygon’s zkEVM rollup entered an emergency state on March 23 after the chain stopped processing blocks. Last week, Polygon released an analysis of the outage that took its zkEVM down. Polygon reported late Saturday that its zkEVM sequencer had failed, attributing the cause to a reorg of the Ethereum mainnet. The postmortem states that the synchronizer for Polygon zkEVM mishandled the reorg, and the chain started processing batches of transactions with incorrect timestamps. A blockchain reorganization, or reorg, happens when a network discards blocks from a previous version and adopts a new chain of blocks as the accurate history of…

Solana Labs Co-Founder Anatoly Yakovenko has directed his community towards a new blockchain protocol called BunkerCoin. The announcement coincides with the release of the white paper for BunkerCoin, a blockchain protocol designed for environments with limited bandwidth, including compatibility with shortwave radio. The white paper, released today and titled “BunkerCoin: A Low Bandwidth, Shortwave Radio-Compatible Blockchain Protocol,” presents a technical overview. BunkerCoin utilizes a recursive Zero-Knowledge Proof hash function and a proof of elapsed time Verifiable Delay Function (VDF). The VDF allows miners to identify a ‘golden ticket,’ essential for block validation and transaction integrity. If you are into mainstream…

Federal prosecutors charged Samurai Wallet founders Keonne Rodriguez and William Lonergan Hill with conspiracy to commit money laundering on Wednesday, as the U.S. government continues its approach to prosecuting crypto mixing tools that may be used by illicit actors and foreign governments to hide fund transfers. According to a press release issued Wednesday, the pair developed, marketed and operated the mixer, which “facilitated more than $100 million in money laundering transactions from illegal dark web markets.” Samourai overall facilitated around $2 billion in “unlawful transactions” between 2015 and the present, the release alleged. Rodriguez, 35, and Hill, 65, collected approximately…

Decentralized cryptocurrency exchange Uniswap (UNI) shared in its statement today that it will make a big announcement tomorrow. In the official statement, an expression was used as “There will be a Blast (explosion) tomorrow”, and this was interpreted as the announcement meaning that Blast, one of the relatively new layer-2 platforms on Uniswap, will be integrated. Although the content of the announcement was most likely about Blast, the fact that the announcement was made on April 1 caused its seriousness to be questioned. However, Uniswap asked users to turn on their notifications for tomorrow’s announcement. When asked if this was…

The U.S. Securities and Exchange Commission is looking to impose its steepest fine yet on a cryptocurrency project, a $5.3 billion penalty for Do Kwon and Terraform Labs, the man and company behind the fatally flawed algorithmic stablecoin that jumpstarted a multi-billion-dollar, industry-wide contagion event when it imploded two years ago. This is an excerpt from The Node newsletter, a daily roundup of the most pivotal crypto news on CoinDesk and beyond. You can subscribe to get the full newsletter here. Following a protracted investigation and relatively short two-week trial in New York earlier this month, Kwon and Terraform were…

Amid global uncertainty, gold is regaining its reputation as a reliable safe haven for investors, with central banks around the world deviating from historical norms by actively hoarding the precious metal. China has emerged as an important player in this trend, recording a historic acquisition of 290 tonnes of gold in 2022 alone, following a surge of over 225 tonnes the previous year. This sequence corresponds to a 17-month period of increases in China’s gold reserves. Central banks are STOCKING UP on gold: Since 2022, China has bought a record ~290 tonnes of gold. Last year alone, China acquired more…

A meme coin pre-sale on Solana (SOL) had a bad outcome for investors this weekend. After raising over $40 million in SOL to deploy its BOBAOPPA token, the notorious figure Machi Big Brother staked around 170,000 SOL and allocated just 50,000 SOL to the meme coin liquidity pool. As a result, the BOBAOPPA price quickly crashed by almost 50% and sits at a 40% loss at the time of writing. The crypto community went to X to vent their frustrations about the price crash and, more importantly, that Machi Big Brother kept most of the funds raised in the pre-sale.…

According to a recent Bloomberg report, a group of investors and customers of cryptocurrency exchange FTX have agreed to drop their claims against co-founder Sam Bankman-Fried. In exchange, Bankman-Fried has agreed to cooperate with the plaintiffs in the ongoing lawsuits against other defendants related to the collapse of FTX. Sam Bankman-Fried And Insiders Settle Per the report, if approved by a judge, this agreement would release Bankman-Fried from civil liability just weeks after being sentenced to 25 years in prison for fraud stemming from allegations of stealing billions of dollars from FTX. The settlement, filed in federal court in Miami,…

Celsius loan creditors are unhappy with the restructuring plan proposed by the bankrupt cryptocurrency lender Celsius (CEL), expressing concerns over its fairness and consideration of their claims. According to reports, these creditors believe the restructuring plan disproportionately favors some creditors over others, potentially leading to lower recoveries for loan service users. Objections to the Restructuring Plan The creditors are reportedly considering filing an appeal against the current plan due to perceived unfair treatment. They argue that the court’s decision to allocate $225 million of funds for company capital rather than repaying bonds is unjust, pointing out discrepancies in the recovery…

Litecoin Futures could go live for trade as early as April 1, 2024. They will represent 5 Litecoin, with Coinbase reserving 10,000 LC futures to its name. This translates to 50,000 LTC with a nominal value of $1.02 billion. Litecoin takes its inspiration from Bitcoin. Analysts have stated that it is in the market primarily to complement Bitcoin. Early statements have also emerged wherein the team specifically said that nothing good about BTC would be changed or modified in Litecoin. PoW, for one, has been retained. It highlights the fact that Litecoin also comes with practical daily use. It has…