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The Ethereum network successfully replaced the proof-of-work mining model with the proof-of-stake mining model. The long-awaited switchover occurred on September 15, 2022. Read more: Did Celsius Use Client’s BTC and ETH to Pump the CEL Token? The Shanghai testnet was one of the much-awaited releases, which was earlier stated to be live by the end of February. Ethereum developers are also relentlessly working on deploying testnets in the next few days. Now, according to the latest details from an Ethereum Foundation developer, the Ethereum Zhejiang public withdrawal testnet is set to go live on Feb. 1 at 15:00 UTC. The Shanghai +Capella upgrade is going full steam ahead! The first public withdrawals testnet is launching 1st of Feb at 15 UTC. All info here: https://t.co/S5kp9o6Pzs#TestingTheWithdrurge https://t.co/fw2SZqPbHe — parithosh | 🐼👉👈🐼 (@parithosh_j) January 31, 2023 Ethereum Shanghai+Capella will be triggered six days later Parithosh Jayanthi, an Ethere

The new class action lawsuit aims to help BAYC and APE buyers get compensation from Yuga Labs due to the firm allegedly misleading investors. Troubled cryptocurrency fintech Yuga Labs is about to face more lawsuits in relation to its nonfungible tokens (NFT) collection, Bored Ape Yacht Club (BAYC) and other projects. Rosen Law Firm, a global law firm focused on investor rights’ protection, announced on Jan. 30 that it’s planning to file a class action lawsuit against Yuga Labs.  Rosen invited purchasers of Yuga securities — including BAYC NFTs and the native token ApeCoin (APE) — to join the class action against Yuga by the lead plaintiff deadline set for Feb. 7. The Law firm emphasized that Yuga securities’ investor s that bought BAYC and APE between April 23, 2021, and Dec. 8, 2022, may be entitled to compensation without payment of any additional costs through a contingency fee arrangement. The new case targets a large number of defendants, including Yuga Labs co-founder Wylie Ar

In November, Sam Bankman-Fried ’s FTX empire crumbled. Numerous businesses were impacted by FTX ’s collapse, which also shocked the cryptocurrency industry. Following that, FTX filed for bankruptcy, and SBF stepped down as CEO. SBF has been under scrutiny ever since. New events regarding the FTX scenario were surfacing almost every day. According to the details in the latest press release by the government of the UK, the Charity Commission has launched an inquiry into the Effective Ventures Foundation. We’ve opened an inquiry into Effective Ventures Foundation following the bankruptcy of a significant funder. Read more: https://t.co/zjH1TdysYf pic.twitter.com/Qda9I0YwVP — Charity Commission (@ChtyCommission) January 30, 2023 FTX and Sam Bankman-Fried were significant funders of the charity The investigation by the Charity Commission for England and Wales is mainly due to the fact that the charity was backed by FTX and SBF. The press release also reveals that t

Injective $150M Ecosystem Initiative has been launched. This is to further accelerate developer adoption of the only lightning-fast blockchain optimized for financial applications. The effort is joined by some of the largest institutions spanning across Web3 and traditional finance including Pantera Capital, Kucoin Ventures, Jump Crypto, IDG Capital, Gate Labs, Delphi Labs, Flow Traders, and Kraken Ventures. The Venture consortium is also the largest assembled within the broader Cosmos community. The Injective Ecosystem Group Overview The Injective Eco system Group is a venture initiative that will seek to bring unprecedented levels of growth by supporting the best builders of Injective. The core focus will involve backing builders pioneering new ideas across a diverse array of sectors including interoperability, DeFi, trading, PoS infrastructure, rollups, and scalability solutions. Injective is witnessing major growth in developer activity and dApp deployments with projects such as H

Join Our Telegram channel to stay up to date on breaking news coverage The White House blamed Congress on Friday for delaying the creation of a comprehensive, national regulatory framework for cryptocurrencies, citing a number of steps that lawmakers may take to combat fraud and dishonest individuals in the industry. Four of President Biden’s closest advisors argued in a Friday morning blog post on crypto policy that Congress “has to ratchet up its efforts.” The essay then lists several actions Congress may take right away to ostensibly improve consumer protection regulations in the cryptocurrency industry. These actions include giving federal regulatory organizations like the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) more authority; enhancing the transparency and disclosure standards for cryptocurrency companies; assisting law enforcement by increasing funding; toughening the penalties for current financial rules; and improv

Join Our Telegram channel to stay up to date on breaking news coverage Fantom crypto has soars in price recently. In this article, we look at the Fantom price prediction for 2023 and the most recent Fantom update. Taking a look at Fantom, we can see that over the course of the past month, it has surged from lows of $0.19 up to $0.40. The previous month brought about a 2X, which is an impressive sight. Fantom Overview and Update Fantom is an open-source decentralized application and digital asset smart contract platform that competes with Ethereum. Fantom aims to balance scalability, security, and decentralization to overcome prior blockchain restrictions. The project provides a comprehensive staking incentive structure, DeFi instruments, and tools to simplify DApp integration. Michael Kong, CEO of the Fantom Foundation, gives an excellent overview of the Fantom Virtual Machine and its advantages at the largest Web3 conference of Miami Blockchain Week. 1/n Go-Opera's p

Join Our Telegram channel to stay up to date on breaking news coverage This article will highlight the drawbacks of Terra Luna Classic and explore why the new project Meta Masters Guild is more profitable. We haven’t heard much from the Terra Luna Classic in the recent months, however the presale of Meta Masters Guild is one of the most talked about and attracting a lot of investors because it has the potential to provide massive profits. Coin Central – What is Missing on Terra Luna Classic? Terra Luna Classic doesn’t have much activity in the past three months. Investors have been exiting because no one knows what to develop, and there isn’t much utilization around it, or there is some, but no one knows what might happen next. This is a big problem in the community as a whole, and a lot of investors are upset about it. If there was a mobile game where players could buy, sell, and invest in Terra Luna Classic, it would be a massive benefit for the cryptocurrency’s developmen

According to a new earning report from automotive manufacturer Tesla, the company did not sell any of its BTC holdings in the fourth quarter of 2022. Amid speculations that the company had traded BTC during the testing bears, CEO Elon Musk revealed it was yet holding on to its BTC stash. Tesla Maintains Holdings After Initial Sell-Off In Q2 of 2022, Tesla opted to sell 75% of all its BTC. The car manufacturer received close to $950M in ex change . Notably, the sale marked an actual departure from the company’s usual practices when it came to its holdings of the premier cryptocurrency. Until the Q2 sale, Tesla had made little change s to its store of king-crypto Bitcoin since early 2021. Back then, the electric car maker added $1.5 billion worth of BTC to its portfolio. This amounted to a total of 43,200 Bitcoins. Elon Musk said at the time:  We are certainly open to increasing our bitcoin holdings in the future, so this should not be taken as some verdict on bitcoin,” Musk cl

The bitcoin price is consolidating below the important $23,000 level and is still up almost 50% from its 21 November lows, despite pulling back 1.5% in the past 24 hours to $22,600. If the largest cryptocurrency by market cap can successfully challenge resistance between $23k and $25k, that will be key to sustaining its uptrend revival – it could also signal the end of the bear market. If and when bitcoin breaks through the $23,000-$25,000 resistance region, there is, arguably, an open road ahead to $30,000. But it is worth dwelling on the fact that $23k is such an area of strong resistance.  We can identify three discernible challenges to the $23k level that failed to hold between July and August last year (see chart annotations below). The three failures decisively broke down when bitcoin plummeted $2,000 on 19 August.  Expectations of a rapid and successful assault on this important price level has proved a bridge too far for bulls, for now. Bitcoin price is gath

Fantom has started making noise yet again. At press time on Tuesday, it was the seventh-highest weekly gainer. Retrospectively, investors ended up fetching 24.55% in the same timeframe. On social platforms like Twitter, “$ FTM ” was trending, indicating that people from the space were keenly keeping an eye on the Altcoin and discussing it. In fact, data from LunarCrush confirmed, as Fantom -related social engagements have risen by ~8%. The current price at which Fantom is trading has historical significance. When FTM was priced around $0.4 last time, it ended up surging by a whopping 755%. At the moment, a similar theory has been floating around on social media. If not replicated, history usually rhymes at least. So, should investors prepare for another astronomical Fantom pump? To answer that, let us deep dive into the market conditions. Is this the time to rejoice for Fantom investors? The last time FTM’s pump materialized, the macro cryptocurrency market was en-rout

The descent of Digital Currency Group [DCG] kickstarted a contagion that prompted the downfall of its crypto lender Genesis. Similarly, the DCG crisis may have disrupted the lawsuit that Grayscale had issued against the Securities and Exchange Commission [SEC]. According to a recent report, oral arguments between Grayscale and the SEC were scheduled to occur sometime in the second quarter of 2023. However, in a new turn of events, both these parties are expected to appear before the court at 9:30 a.m. ET on March 7. Cryptocurrency exchange trader products [ETF] have been quite controversial in the United States. A wide majority of Bitcoin and Ethereum ETF applications were blatantly rejected. Nevertheless, the approval of a few others like the ProShares‘ futures-based Bitcoin ETF prompted firms to pursue the same. Consequently, Grayscale hopped onto this bandwagon in June 2022. But following multiple delays, the SEC poured cold water on Grayscale’s ETF ambitions. The SEC high