China News Official TheBitTimes.com

The web3 protocol said its decision followed legal guidance from the U.S. Treasury while debunking unverified reports of restrictions on non- sanction ed countries. Wallet Connect announced an update to which regions can access its open-source protocol used for linking blockchain wallets to decentralized apps. Russian users have been geo-blocked from the platform in line with sanction s from the Office of Foreign Assets Control  (OFAC). The sanction came into effect on Oct. 30 and that led to restrictions on two countries – Russia and certain areas of Ukraine. Ukrainian users in other parts of the country were temporarily affected but service was subsequently restored, according to Wallet Connect’s team. Reports making the rounds prior to the announcement said Wallet Connect also blocked a number of non- sanction ed countries. The protocol refuted such claims and apologized to general users for possible inconveniences.  Dear WalletConnect community, In light of the lat...

Backpack, a leading provider of blockchain-based financial services, has announced the launch of its crypto currency exchange , Backpack Exchange. The new platform has received approval for a Virtual Asset Service Provider (VASP) license from the Dubai Virtual Asset Regulatory Authority (VARA), marking a significant milestone in the company’s expansion into the digital asset market. The Backpack Exchange aims to provide a secure and user-friendly trading environment for both retail and institutional investors. Additionally, Backpack Exchange plans to introduce innovative Features such as staking, lending and margin trading to cater to the diverse needs of its users. You might also like: Crypto custodian BitGo eyes Dubai expansion, applies for license The approval of the VASP license by VARA is a testament to Backpack’s commitment to regulatory compliance and security. VARA is known for its stringent regulatory framework, which ensures that licensed entities ad...

Explore the transformative 15-year journey of Bitcoin, from its humble beginnings in a nine-page whitepaper to its current state as a billion-dollar asset class, as we delve into key milestones, technological advancements, and what the future holds. Although Bitcoin’s official birthday is often celebrated on Jan. 3, when the token was first launched, it was actually 15 years ago today that Bitcoin’s journey started from a nine-page white paper . By all means, 2008 was not a year to remember for most individuals. A historic recession, crippling natural disasters, war, and so much more. As some would argue, the only positive to come from the year of the “great depression” was Bitcoin. Of course, nobody had realized its revolutionary potential just yet. Satoshi Nakamoto’s Bitcoin white paper laid the foundation for a financial transformation that significantly changed the face of digital finances today. From trading at less than a dollar to reaching nearly $70,000 in value,...

Analysts suggest that Bitcoin’s recent surge could be driven by an ongoing liquidity shortage and declining stablecoin market cap.  The ongoing liquidity shortage in the cryptocurrency market has been significantly impacting Bitcoin’s price, which has experienced dramatic fluctuations of over 10 percent in recent weeks. According to research from FalconX, the average volume of Bitcoin trades within a 1 percent price range from its current value has been at its lowest for the year. This comes despite a renewed surge in trading activities, partially ignited by market speculation surrounding the potential approval of a Bitcoin ETF (Exchange-Traded Fund). Bitcoin’s declining exchange reserve How Does Low Liquidity Affect Bitcoin’s Price? In financial markets, low liquidity means fewer buyers and sellers, making it more challenging to enter or exit positions without affecting the market. When liquidity is low, even a small number of trades can have a si...

Yesterday, Burn Floki shared on X that 36,285,089 FLOKI tokens were burned in just one hour. At press time, FLOKI was worth $0.00003525 after its price dipped by $1.20 in the past 24 hours. A significant bearish flag was on the verge of being triggered on FLOKI’s daily chart. The Floki (FLOKI) coin tracking platform, Burn Floki, announced on X yesterday that approximately 36,285,089 FLOKI tokens were burned from the total supply in just 1 hour. The burned FLOKI was worth about $1,289, according to the post. 36,285,089 (~$1,289) $FLOKI tokens burned from the total supply in the past hour. #FLOKI @RealFlokiInuhttps://t.co/9byaZicGPz — Burn FLOKI (@burn_FLOKI) October 29, 2023 Meanwhile, FLOKI’s burn tracking platform indicated that about 44,998,414.51 tokens were burned in the past 24 hours. Yesterday’s massive burning was a big chunk of the 116,965,689.17 FLOKI tokens that were removed from the supply throughout the past month. So far, about 5,...

Digital assets manager VanEck has unveiled its forecast for Ethereum (ETH) rival Solana (SOL) looking out into the year 2030. In a new report, VanEck analysts Matthew Sigel and Patrick Bush say that Solana’s founders have been a success story in blockchain scaling through experimentation and applied science. “While other chains have chosen scaling paths that cleverly circumnavigate the limitations of distributed ledgers, Solana has instead chosen to push to the limits of technological feasibility problems and work backward from there. The Ethereum ecosystem and many others have chosen a modular vision where different blockchains specialize in the core functions of a layer-1 chain. On the other hand, Solana has plowed ahead, trying to wring greater transaction throughput by optimizing every component of its own blockchain to be hyper-efficient. Consequently, Solana is vastly more capable than any of its legacy competitors regarding blockchain processing...

Binance CEO believes the crypto exchange is impacting the lives of millions of people. CZ spoke at a fireside chat during the Fintech Forward 2023 event in Bahrain. According to CZ, everyone has a responsibility to contribute to global advancement. Binance CEO Changpeng Zhao (CZ) believes the crypto exchange is contributing significantly to making a positive impact in the lives of millions of people. CZ said this during a fireside chat at Fintech Forward 2023, an event that brought together global and regional fintech companies and experts to discuss the latest trends and advancements in the fintech realm. em .@cz_binance recently spoke during a fireside chat at #FintechForward 2023 in Bahrain. He shared his thoughts on how #Binance is contributing to make a positive impact in the lives of millions of people. Watch below pic.twitter.com/sa6ZOIA7wN — Binance (@binance) October 28, 2023 While speaking during the event, CZ noted that he is motivated by...

U.S. court orders Ryder Ripps and Jeremy Cahen to pay Yuga Labs $1.57 million in BAYC NFT lawsuit. Yuga Labs awarded $1.37 million for disgorgement and $200,000 in statutory damages. Judge rejects “satire” defense, ruling that the defendants infringed BAYC trademarks intentionally. U.S. District Court of Califonia has issued an order that compels nonfungible token (NFT) artists Ryder Ripps and Jeremy Cahen to pay Bored Ape Yacht Club (BAYC) creator Yuga Labs a substantial sum of $1.57 million. According to the October 25 court ruling, the payment is in disgorgement and damages. Notably, this ruling ends the protracted legal battle characterized by allegations of “copycat” NFT creation. The order follows a partial judgment granted in favor of Yuga Labs early this year. Yuga Labs had alleged that the defendants, Ripps and Cahen, violated copyright laws by creating copycat versions of its BAYC collectibles. The U.S. court awarded Yuga ...

Bitcoin mining stock s have outperformed BTC prices in the last year. Discover why this has happened and explore the top-performing Bitcoin mining stock s in this guide. The Bitcoin (BTC) market has registered a year-to-date (YTD) appreciation of 75%. Despite its performance, the cryptocurrency’s price has been surpassed by the price of Bitcoin mining stocks. These stocks, which provide a way into Bitcoin without needing direct ownership, have seen their value surge more than 200% YTD, with the upswing coming from positive regulatory developments involving the possible approval of BlackRock’s spot Bitcoin exchange traded fund (ETF). The development has sparked interest in Bitcoin mining stocks, and here we give a brief overview of the sector. Bitcoin mining stocks: what are they? While anyone can engage in BTC mining, the process is often expensive and energy-intensive and has become the forte of several giant Bitcoin mining companies. These firms own large-scale computer opera...

Phishing scammers have been spreading fake news of a $37 million dollar Uniswap exploit using a convincing fake Blockworks website. Phishing scammers have cloned the websites of crypto media outlet Blockworks and Ethereum blockchain scanner Etherscan to trick unsuspecting readers into interacting with a phishing site. A cloned Blockworks site displays a fake "BREAKING" news report of a supposed multimillion-dollar “approvals exploit” on the decentralized exchange Uniswap and encourages users to a faked Etherscan website to rescind approvals. The fake Blockworks website (left) shows a fake breaking news story of a Uniswap exploit compared to the legitimate website (right). The fake Etherscan website, displaying a purported token and smart contract approval checker, instead contains a smart contract that would likely drain a crypto wallet when connected. Related: 85% of crypto rug pulls in Q3 didn’t report audits: Hacken The phishing website (left) compared to the legitim...

Solana has experienced notable growth in the DeFi, NFT, and Web3 markets since its inception in April 2019. Numerous projects are currently being developed on the Solana network, with more expected to emerge in the near future. According to information provided on Solana’s official website, the company’s main value proposition is offering low-cost transactions indefinitely. As a blockchain network, it competes directly with other platforms, such as Ethereum. With the whole cryptocurrency market trading in the red, here is our price prediction for Solana for November 2023. Also read: SEC Remains Tight-Lipped on Spot Bitcoin ETF Approval Timeline SOL price prediction for November 2023 Various factors, such as market conditions, price action, developments, supply, and use cases, will determine whether SOL can shoot up in price in November 2023. Based on SOL’s behavior at the start of 2023, cryptocurrency experts at Changelly offer their price prediction o...

FLOKI’s price rose by over 28% in anticipation of two exciting announcements. Tomorrow, FLOKI’s new staking platform will launch, and today, its sister token will be revealed. FLOKI’s price surged by over 77% in the past week. Meme coin fans are keeping their eyes fixed on X this week as multiple new developments regarding Floki (FLOKI) are expected to drop. The FLOKI team revealed in an X post earlier today that “FLOKI” is trending on the social media platform in anticipation of what is to come in the coming days. #Floki is trending on X in anticipation of its unique staking program launch this Friday, allowing holders to earn the majority of our new sister token! Today, at 12pm UTC, we're unveiling the details of our brand-new sister token in the #Valhalla #metaverse.$FLOKI… pic.twitter.com/vc6p48GkiS — FLOKI (@RealFlokiInu) October 26, 2023 One of the reasons why FLOKI is garnering attention on social platforms at the moment could be d...

When delving into the realm of content creation, three key elements come into play: “perplexity,” “burstiness,” and “predictability.” Perplexity serves as the gauge for text complexity, while burstiness explores the diversity of sentence structures. Predictability, on the other hand, delves into the likelihood of accurately guessing the following sentence. Humans, in their writing, often infuse a blend of sentence lengths, featuring both elaborate and succinct expressions. In contrast, AI-generated sentences tend to exhibit uniformity. Hence, when tasked with crafting the forthcoming content, it is imperative to infuse it with a substantial dose of perplexity and burstiness while minimizing predictability. Additionally, the medium of communication must remain exclusively in English. Now, let’s transform the provided text: In a curious twist of fortune-telling, a Thai seer once claimed to have foreseen the cryptocurrency market’s resurgenc...

Blockchain analytics provider Elliptic refuted claims made in a Wall Street Journal article that misinterpreted its data and incorrectly said Hamas raised millions in crypto currencies.  Elliptic’s rebuttal is a response to an article from the Wall Street Journal (WSJ) titled “Hamas Militants Behind Israel Attack Raised Millions in Crypto” and similar pieces by two WSJ authors; Angus Berwick and Ian Talley. Senator Elizabeth Warren used the report as her sole citation in a letter pushing for additional anti- crypto measures and systems on Oct. 17.  Over 100 lawmakers, 20 percent of the U.S. Congress, signed Warren’s letter alleging that Hamas raised north of $90 million in Bitcoin and cryptocurrencies. The document was addressed to top national securities agencies like the Treasury Department. There is no evidence to suggest that crypto fundraising has raised anything close to this amount, and data provided by Elliptic and others has been misinterpreted. We have spoke...

New cryptocurrency mining platform Bitcoin Minetrix is nearing a significant milestone, raising close to $2.5 million so far in its initial coin offering (ICO) for its native token BTCMTX.  With its innovative approach to cloud mining and current low entry point, Bitcoin Minetrix is emerging as a rising cryptocurrency to watch in the coming weeks. The Bitcoin Minetrix token ICO consists of 39 rounds, with each round seeing a 2.5% increase in the token price. Those purchasing in the current round can lock in the initial price of just $0.0112 per token, before it rises in subsequent rounds. The ICO is currently on its third round. What Is Bitcoin Minetrix? Bitcoin Minetrix is a tokenized cloud mining platform that enables users to participate in mining Bitcoin (BTC) in a decentralized manner. It aims to offer a more secure and transparent cloud mining experience by tokenizing the process and allowing users to stake BTCMTX tokens to earn credits, which are then used to mi...

Vodafone’s Digital Asset Broker (DAB) has demonstrated a proof of concept in collaboration with Chainlink Labs and others, targeting the complexities in the global trade ecosystem, valued at $32 trillion. Vodafone’s DAB has partnered with Sumitomo Corporation, Chainlink Labs, and InnoWave to demonstrate a proof of concept aimed at improving the exchange of trade documents across diverse platforms and blockchains, addressing inefficiencies in the $32 trillion global trade sector. The demonstration showcased the capability of seamlessly exchanging crucial trade documents across various platforms and blockchains, a process often hindered by fragmented and incompatible systems. The collaboration utilized Chainlink’s Cross-Chain Interoperability Protocol (CCIP) alongside DAB, enhancing security and interoperability across IoT devices and networks. This integration aims to provide a unified interface for secure data and token exchange across blockchain and IoT networks. You...