$1B Moved in a Flash: Bitcoin Revolutionizes Large Transfers

• On March 16, 2023 over 40,141 bitcoin (BTC) were moved in a single transaction worth $1.05 billion from 254 addresses to two separate output addresses.
• The transfer of such a large amount of money in traditional banking systems involves numerous intermediary banks and high fees, as well as potential delays due to different time zones and banking hours.
• Bitcoin simplifies the process considerably by eliminating intermediaries and enabling direct, peer-to-peer transactions with minimal fees and fast confirmation times.

Benefits of Utilizing Bitcoin for Large Settlements

On March 16, 2023 over 40,141 bitcoin (BTC) were moved in a single transaction worth $1.05 billion from 254 addresses to two separate output addresses – demonstrating once again how the introduction of BTC improved large settlements. Compared to traditional banking methods which involve numerous intermediary banks that often charge high fees, have complex processes and long waiting times due to different time zones or banking hours – Bitcoin simplifies the process considerably by eliminating intermediaries and enabling direct, peer-to-peer transactions with minimal fees and fast confirmation times.

Transaction Cost

The cost of the transaction was 333,000 satoshi worth about $87 – just 0.000008285714285714285% of the transferred sum – all owned by major cryptocurrency exchange Binance. This is a dramatic reduction in costs compared to traditional banking methods which are likely higher by orders of magnitude.

Speed

Bitcoin transactions typically take just minutes or hours to be confirmed by the network depending on network congestion and the fees paid by the sender – much faster than traditional bank transfers which often take several days to clear especially for international transfers. This speed is particularly advantageous for businesses and individuals that need quick settlements for goods or services rendered.

Security

Due to its decentralized ledger system, Bitcoin also offers greater security than traditional banking systems which are vulnerable to fraud or disruption caused by malicious actors or natural disasters which can lead significant financial losses when not properly insured against them..

Conclusion

This massive transaction serves as a reminder of many benefits utilizing bitcoin provides when it comes to large settlements such as efficiency, cost effectiveness and security compared to traditional banking methods making it an attractive option for those looking for quicker settlements at lower costs without compromising on security standards.

South Dakota Governor Rejects Crypto Exclusion Bill, Upholds Economic Freedom

• South Dakota Governor Kristi Noem vetoed a bill that would have excluded cryptocurrencies like Bitcoin from the definition of money.
• The bill classified Central Bank Digital Currencies (CBDCs) as money instead, creating a loophole for the federal government to adopt them.
• Critics argued that the bill would only legalize CBDCs while outlawing other digital assets, prompting Gov. Noem to veto it.

South Dakota Governor Vetoes Bill Excluding Crypto From Money Definition

South Dakota governor Kristi Noem has formally rejected legislation that would have excluded bitcoin (BTC) and other cryptocurrencies from being defined as „money“ in the state. House Bill 1193, introduced by Republican Mike Stevens, was intended to amend provisions of South Dakota’s Uniform Commercial Code but instead opened the door for central bank digital currencies (CBDCs) to be adopted by the federal government.

What Was Included in HB 1193?

The 117-page bill defined money as a medium of exchange only if it is „authorized or adopted“ by a government, thereby excluding privately created digital currencies such as bitcoin (BTC). This meant that while CBDCs such as China’s Digital Yuan were classified as money, all other digital assets were not.

Criticism of HB 1193

Critics believed this bill would make it so that only governments could create „money,“ legalizing CBDCs while outlawing all other digital assets. Dennis Porter, CEO and co-founder of Satoshi Action Fund, stated there is an attempt to push this policy in 21 different states across the U.S., which could lead to a coalition of pro-CBDC states where crypto is not recognized as money.

Gov. Noem’s Veto

Explaining why she vetoed the bill, Gov. Noem said explicitly excluding crypto as money would disadvantage South Dakota residents when trading with people in other states and limit their ability to use their crypto holdings freely. She also noted that the legislation could create a loophole for the federal government to adopt central bank digital currencies and make them the only viable forms of digital currency available in America.

Conclusion

In conclusion, Gov. Noem’s decision to veto House Bill 1193 is widely seen as beneficial for cryptocurrency users in South Dakota and beyond who will now be able to continue using their crypto without fear of government interference or restrictions on its usage within the state boundaries

Base & Chainlink: Scaling Ethereum with Secure Price Feeds

• Coinbase’s Base integrates Chainlink price feeds
• Jesse Pollak, project lead at Base expresses delight with the new development
• Chainlink’s LINK token experienced a positive Febuary in terms of price action and developments

Coinbase Integrates Chainlink Price Feeds

Coinbase has integrated Chainlink to provide secure, off-chain price feeds for developers in the crypto sector. The company is joining the Chainlink SCALE program to empower developers with data and services they need to build their applications. This partnership fosters Coinbase’s vision to scale into a top level-2 solution in the Ethereum blockchain ecosystem.

Jesse Pollak Expresses Delight With New Development

Jesse Pollak, project lead at Base expressed his delight at the new development, stating how important it is for Coinbase to partner with crypto giants like Chainlink. He also highlighted that this integration will make transactions on the Ethereum network faster and more cost effective.

Chainlink’s LINK Token Experiences Positive February

Chainlink’s LINK token experienced a positive February in terms of both price action and developments. The crypto-based oracle recently secured a partnership with Archblock, the issuer of TUSD stablecoin, which uses its proof-of-reserves to secure minting and improve transparency between users and issuers.

Launch Of Coinbase’s Ethereum L2 Solution ‘Base’

Last week, Coinbase revealed that it will be launching its own Ethereum L2 solution called Base, the announcement sparked an upturn in Coinbase’s stock price rising by almost 10% to $64.83 per share immediately after the news broke.

Conclusion

The integration of Chainlink into Coinbase’s Base allows developers to have access to secure off-chain data sources from Chainlink when building decentralized applications. By doing so, it enables efficient scaling on transactions on the Ethereum network reducing costs and increasing speeds for users on the platform.

Tron Soars 13.6%: Crypto Markets Remain Flat

• Tron’s native token (TRX) has experienced a 13.6% price increase over the past 30 days, outperforming Bitcoin and Ethereum.
• Factors influencing TRX’s market performance include demand and supply, network development, market sentiment, and macroeconomic factors.
• Recent developments on the Tron network include a rapid surge in burned TRX tokens and an increase in burning activity.

TRX Price Up 13.6%

The past month has seen many cryptocurrencies experience upward price changes, with the Tron network’s native token (TRX) being one of them. According to CoinMarketCap data, TRX was trading at about $0.06073 on Jan 25th and reached a high of $0.07249 on Feb 20th – representing an 19.36% hike from its Jan 25th price. Currently, TRX is priced at $0.06902 – a 13.6% rise over the past month despite Bitcoin and Ethereum losing their last day’s gains throughout this time period as well as decreasing total market value for all cryptos.

Factors Influencing TRX Market Performance

The prices of cryptocurrencies are often impacted by demand & supply dynamics, network development initiatives, market sentiment & macroeconomic factors such as geo-political events or regulation changes amongst others. CoinStats‘ Fear and Greed Index currently places TRON’s market sentiment at 53 – firmly in the greed category; further adding to positive momentum for its price movement over the past few weeks..

TRON Network Developments Drive Activity

The Tron network is working hard to bolster its community by introducing new projects and initiatives that demonstrate its creators’ vibrancy & enthusiasm for improvement & progress across various fronts; including scalability & sustainability efforts etc., . On Feb 20th -the day that TRX hit its highest level in the last 30 days -Tron released a report highlighting significant network changes -including a rapid surge in burned TRX tokens which topped 15 billion -leading many to suggest further deflationary pressure upon the coin’s price going forward..

Burning Activity Up 60%

Over recent weeks there has been an observed increase in burning activity on Tron according to data from TronScan; with daily token burn rates increasing by 60% from the previous month alone due to multiple factors including increased staking rewards & transaction fees amongst others.. Moreover, other developments such as smart contract deployment have also led to additional fees being burnt leading experts to believe that higher levels could be sustained going forward..

Conclusion The present situation looks positive for TRON overall with multiple drivers contributing towards increased activity across various aspects of its ecosystem allowing it to retain its strong upwards price trend despite downward pressures from other coins within its space.. This suggests further increases may be expected going forward although caution should still be used when investing during these volatile times..

Crypto Won’t be ‚Uninvented‘: Custodia Bank CEO Predicts Future

• Caitlin Long, the founder and CEO of Custodia Bank, revealed that she handed evidence to law enforcement agencies in the United States of probable crimes committed by a big crypto firm.
• She believes stamping corruption out of crypto is not a partisan issue and that regulators should let the law adapt and take its course.
• Despite the crackdown from regulators, Caitlin says cryptocurrencies won’t be „uninvented“ and will continue to exist as „internet-native“ money.

Caitlin Long Reveals Crypto Crimes

Caitlin Long, the founder and CEO of Custodia Bank, recently revealed on Twitter that she handed over evidence to law enforcement agencies in the United States of probable crimes committed by a big crypto firm. She also warned regulators of the risks banks expressly serving the crypto industry were facing.

Fighting Corruption Not Partisan Issue

Long believes stamping corruption out of crypto is not a partisan issue. Instead, she assesses that the only way crypto can be corruption and fraud-free is not to engage in politics and instead let the law adapt and take its course. She appears to blame politics for Custodia Bank being denied the required licenses for them to be federally regulated.

Cryptocurrencies Will Not Be Uninvented

Regulators across the world are trying to intervene and protect investors as mandated by law, but Long says cryptocurrencies won’t be „uninvented“ despite this opposition. She claims they will continue to exist as „internet-native“ money even if there is opposition.

Custodia Bank History

Custodia Bank specializes in providing payment services for cryptocurrency assets while also offering custody services for commercial clients in the United States. They have been engaged in this industry since it launched back in 2020 with Caitlin as their CEO.

Conclusion

In conclusion, despite regulatory crackdowns from governments around the world, Caitlin Long remains confident that cryptocurrencies will remain an important part of our financial system going forward due to their ability to provide secure transactions across borders at low costs. Furthermore, she has taken steps towards ensuring that criminal activity does not go unchecked within this space by handing over evidence indicating possible crimes committed by a big crypto firm prior to it’s implosion last year which left millions customers with losses

Optimism Protocol Sets Up Donation Address to Aid Earthquake Victims

• Connext and Optimism Protocol have launched a donation system to help victims of the earthquake in Turkey and Syria.
• The system allows for noncustodial donations, ensuring transparency and accountability.
• Optimism Protocol has also launched Optimism Agora, an on-chain governance portal.

Earthquake Relief Donation System Launched

As Turkey recovers from the earthquake that took thousands of lives, several blockchain projects have launched donation campaigns to assist the affected regions. Connext, a decentralized exchange and payment network, announced they had created a system to allow TurkeyReliefDAO to accept donations across multiple chains. Shortly after this announcement, Optimism Protocol tweeted that they had set up a donation address through which people could send support directly to the affected areas. This coordinated effort by Connext and Optimism Protocol is an example of how blockchain can be leveraged for social good, allowing people to contribute without relying on centralized intermediaries.

Benefits of Non-Custodial Donations

By creating a system for noncustodial donations, these organizations are enabling people to contribute to relief efforts with transparency and accountability. This helps ensure funds reach those in need quickly and efficiently. Additionally, non-custodial donations reduce the overhead costs associated with traditional methods of donating as there is no need for any middlemen or fees associated with transferring money across borders or through different currencies.

Launch of Optimism Agora

Optimism Protocol also announced the launch of Optimism Agora – an on-chain governance portal built by Agora that brings Token House votes to full on-chain operations. This new addition will enable users to directly cast their votes using tokens stored in their wallets rather than relying on third party voting services – providing more security and reducing operational costs associated with polling activities such as audits or data analysis services traditionally used in voting processes.

Blockchain Projects Assist Earthquake Victims

The launch of this donation system as well as other initiatives taken by blockchain projects demonstrate how technology can be used for social good in times of crisis – providing fast access to resources that can help those affected rebuild their lives faster than ever before possible before blockchain was available. By utilizing these technologies, relief efforts can be made more efficient while still being accountable and transparent with funds going directly where it is needed most without any custodians involved in between steps making it easier for those who wantto donate but do not know how or lack access due financial restrictions they may face otherwise when donating through traditional methods like banks etc..

Conclusion

The emergence of blockchain technology has enabled unprecedented levels of efficiency when it comes to social good initiatives such as aiding those affected by natural disasters such as earthquakes, floods or other calamities around the world – making it much easier for donors to provide direct support wherever needed faster than ever before possible thanks its non custodial nature which eliminates middlemen fees & provides greater transparency & accountability overall when compared against traditional methods used prior its integration into aid relief systems globally .

FTX Demands Refunds from Political Figures, May File Lawsuit

• FTX is sending out ‘confidential letters’ to political figures, PACs, and other receivers of contributions made by FTX founder Sam Bankman-Fried.
• The new management is willing to take legal action against anyone who fails to return the funds before Feb. 28th, 2023 as part of their bankruptcy proceedings.
• Over 196 lawmakers have received funding from FTX, including Speaker of the House Kevin McCarthy and Senate Majority Leader Chuck Schumer.

FTX Requests Refunds From Politicians

FTX crypto exchange’s new management has sent ‚confidential letters‘ to politicians, PACs, and other receivers of contributions made by its former founder Sam Bankman-Fried to request refunds before Feb. 28th, 2023. If the recipients fail to comply with this demand, the new management will take legal action as part of their bankruptcy proceedings.

Donations Made By SBF

Before his arrest last year, SBF had been listed as a major donor during midterm elections in November 2020 after he and his associates gave over $93 million to lawmakers on both sides of the political divide. Out of 196 lawmakers that received donations from FTX, Speaker of the House Kevin McCarthy (Republican from California) and Senate Majority Leader Chuck Schumer (Democrat from New York) were two notable names that received funding from the exchange. In addition, SBF was also reported as being the second-largest ‚CEO contributor‘ towards Joe Biden’s campaign in 2020 with a donation of $5.2 million.

FTX Funds Recovery Efforts

The new management has managed to recover $5 billion in cash and liquid cryptocurrencies so far while they are currently working on modalities to sell non-strategic investments worth $4.6 billion such as subsidiaries like FTX Europe, FTX Japan, Embed and Ledger X. Meanwhile there is an ongoing task force constituted by the United States Attorney’s Office for Southern District of New York which is actively tracing missing customer funds alongside other investigations related with collapse of FTX crypto exchange .

Conclusion

FTX is taking necessary steps to ensure its creditors are paid back through refunding money that was donated by its former founder Sam Bankman-Fried who had previously donated over $93 million dollars split between 196 different lawmakers including Speaker Kevin McCarthy and Senate Majority Leader Chuck Schumer among others.. It remains unclear whether or not all these donations will be returned but it looks like FTX is taking all possible steps towards recovering any lost funds through various means such as selling off non strategic investments or using task forces set up by US attorney office for southern district NY etc

Hackers Launder $27M in Stolen ETH From Harmony’s Horizon Bridge

• North Korean hackers allegedly laundered another tranche of funds stolen last year from Harmony’s Horizon Bridge.
• The hackers allegedly moved 11,304 Ethereum (ETH) over the weekend, worth approximately $17.7 million.
• Crypto investigator ZachXBT claims the funds were consolidated into two primary addresses before being sent to six different crypto exchanges.

According to a self-styled crypto investigator going by the social media moniker ZachXBT, actors allied to the Democratic People’s Republic of Korea (DPRK) have laundered another tranche of funds stolen last year from Harmony’s Horizon Bridge. Over the weekend, the hackers allegedly moved 11,304 Ethereum (ETH) worth approximately $17.7 million.

The crypto analyst claims that the rogue state, or people acting on its behalf, consolidated the stolen funds into two primary addresses before sending them to six different crypto exchanges. He then added that he had discovered another address with 5,974 ETH worth $9.4 million, bringing the entire haul laundered over the weekend to 17,278 ETH with a market value of $27.1 million.

At the time of writing, ZachXBT had mapped out 895 bitcoin (BTC) withdrawals to 14 addresses from the exchanges. At current rates, the BTC withdrawn by the hackers is worth about $20.6 million. This is not the first time the Lazarus Group, the team reportedly behind the $100 million Harmony Bridge hack, has allegedly laundered funds. On Jan. 15, the same crypto investigator claimed that the hackers had moved 41,000 ETH worth $63.5 million.

The hackers reportedly laundered the money through Railgun, a privacy and anonymity protocol. It is unclear at this time if the six exchanges that received the ETH over the weekend have taken any action to freeze the funds or if the hackers have been able to withdraw any of the ETH. It is also unclear if the funds were used to purchase any other digital currencies or if they were sent to any other crypto exchanges.

Calimero Network Raises $8.5M to Develop Private Sharding Solutions for NEAR Protocol

• Calimero Network has raised $8.5 million in a seed round co-led by Khosla Ventures, Lyrik Ventures, and NEAR Foundation.
• The funds will be dedicated to developing private sharding solutions for the NEAR protocol.
• The platform enables users to quickly connect to private and public Web3 applications like NFTs, DeFi, and more, without sacrificing confidentiality.

Calimero Network, a blockchain infrastructure provider, has recently announced that they have secured an $8.5 million seed funding round co-led by Khosla Ventures, Lyrik Ventures, and NEAR Foundation. This investment is being made in order to develop private sharding solutions for the NEAR protocol.

Sharding is an important technology within the blockchain space that involves dividing a blockchain network into multiple smaller networks known as “shards”. This allows for a more efficient and secure way of processing transactions, as it reduces the amount of data that needs to be processed at one time.

The NEAR protocol is a blockchain protocol that is designed to be highly scalable and secure. It is being used by many decentralized applications (dApps) to store data and process transactions. Calimero’s private sharding solutions will allow for dApps to securely store and process data using the NEAR protocol, without sacrificing confidentiality.

Calimero also enables users to quickly connect to private and public Web3 applications such as Non-Fungible Tokens (NFTs), Decentralized Finance (DeFi), and more. This makes it easier for users to access and use the applications that are built on the NEAR protocol.

The recent influx of capital into Calimero Network is a testament to the growing demand for blockchain technology and the need for secure and efficient solutions. This funding will go a long way towards helping Calimero develop its private sharding solutions and expand its reach within the industry. It is an exciting time for the blockchain space and it will be interesting to see how Calimero’s solutions evolve in the coming months and years.

Argo Blockchain Regains Compliance with Nasdaq Listing Rules

• Argo Blockchain announced that they have regained compliance with Nasdaq Listing Rules after fulfilling the minimum bid price required.
• The cryptocurrency miner had received a notice from Nasdaq on Dec. 16, 2022, stating that their stock closed below the minimum $1.00 for 30 consecutive trading days.
• Argo fulfilled the requirement on Jan. 13, 2023 and Nasdaq has confirmed the matter to be closed.

Argo Blockchain, a major cryptocurrency mining company, has won back compliance with Nasdaq Listing Rules after fulfilling the minimum bid price required by Nasdaq. On January 23, 2023, Argo Blockchain released a press statement announcing that they had received a notification from Nasdaq’s Listing Qualifications Department informing them that they had regained compliance with the listing rule of the American stock exchange giant.

The cryptocurrency miner had received a notice from Nasdaq on December 16, 2022, stating that the company’s stock closed below the minimum $1.00 for 30 consecutive trading days. This meant that Argo was required to rectify the situation by June 12, 2023. Fortunately, Argo fulfilled the requirement on January 13, 2023 and Nasdaq has confirmed the matter to be closed.

The news of Argo’s compliance with Nasdaq’s rules comes as a relief to the company, who had been facing liquidity issues and making efforts to avoid filing for bankruptcy. The company had even asked the UK Financial Conduct Authority (FCA) to restore trading of its ordinary shares on the London Stock Exchange in an effort to raise enough funds to keep their operations going.

With Argo now back in compliance with Nasdaq’s rules, the company can rest assured that their stock will remain on the exchange. This will give Argo the opportunity to continue their operations and serve as a beacon of hope for other cryptocurrency miners in similar situations.