Buterin and Winklevosses Address Twitter Censorship Battle

Twitter’s recent fact-checking efforts have caused a stir in the crypto space. Ethereum creator, Vitalik Buterin, and Gemini exchange founders, Cameron and Tyler Winklevoss, expressed their opinions on recent efforts at social media censorship. “I’ve talked before about the rise of corporations regulating governments but here we have Twitter soft-censoring the U.S. president on the grounds of incitement of violence,” Buterin said in a May 29 tweet referencing recent Twitter posts from U.S. President Donald Trump.  “This is a major escalation and could be a new chapter in relations between…

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Satoshi Invented GPU Mining to Defend the Network Says Early Dev

According to an early Bitcoin dev, Satoshi prepared several versions of GPU mining code to defend Bitcoin against a 51% attack. Satoshi Nakamoto had pre-invented Bitcoin (BTC) GPU mining in order to defend the network, says early Bitcoin developer who worked with the Bitcoin creator in 2010. Laszlo Hanyecz, who is known for making the first real-world Bitcoin transaction, has also been credited with inventing Bitcoin GPU mining. However, in a Cointelegraph interview, he said that not only Satoshi had invented it before him, but he also had several versions…

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Alibaba Signs Blockchain-Related Deal With Chinese Port Operator

The biggest port operator in China joined the e-commerce giant and Ant Financial to strengthen blockchain’s adoption across the port industry. China’s biggest port operator, China Merchants Port, reached a deal on May 28 with the e-commerce giant, Alibaba Group, and its affiliate, Ant Financial. This deal will allow for the development of a blockchain-based platform, which will target a number of different use cases. According to local media, the platform will allow buyers, sellers, logistic companies, banks, customs, and tax officials to conduct contactless digital export and import transactions.…

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Crypto Users Could Soon Receive Interest From Two DeFi Protocols at Once

The Aave protocol has introduced Uniswap tokens as a collateral form, which opens the door to the somewhat risky practice of leveraged liquidity pools on the exchange. The Aave lending protocol introduced a new market based on Uniswap liquidity tokens, which lets depositors borrow assets against these synthetic tokens. The Uniswap market was launched and announced on May 28, and it lets holders of specific liquidity tokens use them as collateral to borrow crypto assets from the protocol. Each liquidity token represents ownership in a Uniswap liquidity provider pool, and…

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False Alarm? Bitcoin Upsurge to $9,600 Is a Weak Futures-Driven Rally

The price of Bitcoin rejected $9,600 as data shows the futures market led the BTC rally from $8,700 to $9,600. The price of Bitcoin (BTC) rose to as high as $9,620 on May 28 ahead of the CME futures market’s monthly close. Market data shows the rally of BTC — the biggest cryptocurrency by market capitalization — was primarily caused by the futures market. Historically, a futures-led rally leaves the top cryptocurrency vulnerable to a pullback. Bitcoin rejected the $9,500 to $9,600 resistance range with strength, falling below $9,400 within…

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Bitcoin Hashrate Bounces Back- 2x the Mining Pools, Farm Diversification, 100 Exahash

Around 18 days ago, the Bitcoin protocol experienced it’s third block reward halving and the network saw a 33% hashrate loss. Since then, however, bitcoin miners have increased in both number and hashpower, as the network has seen a 15-20 exahash per second (EH/s) increase. Moreover, on May 22, there were 17 mining pools hashing away at the Bitcoin network and now there are 32 pools. Bitcoin Hashrate Rebounds Mining bitcoin is a competitive industry. The mining competition grows stronger each and every year. After the Bitcoin (BTC) network’s third…

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Congress Fears US Is Losing Battle to Malware and Darkweb Cyberweapons

As COVID-19 has the financial system more internet-dependent than ever, Congress is worried that the United States’ cyber defenses are not up to the current challenge. In a May 28 virtual roundtable before the congressional Subcommittee on National Security, International Development and Monetary Policy, witnesses and congresspeople alike feared that they are not keeping up with criminals hacking the financial system. Criminals have better resumes than government agents One witness, Guillermo Christensen, a partner at law firm Ice Miller, admired the cyber talent operating illegally:  “We are always playing catch…

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JPMorgan Chase Settles Crypto Credit Card Lawsuit for $2.5M

JPMorgan Chase recently came to terms on a lawsuit from 2018 involving added fees for crypto purchases using credit cards. Banking giant JPMorgan Chase settled a 2018 lawsuit recently, with a $2.5 total payout — the result of unclear fees charged when using credit cards for crypto purchases.  A May 26 court document detailed: “The Court notes that Defendant JPMorgan Chase Bank, N.A., f/k/a Chase Bank USA, N.A. (“Chase” or “Defendant”) has agreed to provide a Cash Settlement Amount of an aggregate of $2,500,000 in cash.” The lawsuit stemmed from…

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Emin Gün Sirer’s AVA Labs to Distribute 2M Tokens Ahead of Full Launch

A new DeFi and enterprise blockchain app protocol, AVA Labs, will distribute 2 million tokens in a final testnet before mainnet launch in summer. AVA Labs, a blockchain protocol founded by Cornell’s Emin Gün Sirer, is planning to distribute 2 million tokens in its final testnet before the project’s full launch in summer. The so-called “Denali Testnet” will serve as the final stage of the AVA network testing before AVA’s mainnet launch. The new testnet will allow each validator to earn up to 2,000 AVA network’s native tokens, AVA Labs…

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Not Your Tulip Trust? Message Calling Craig Wright ‘Fraud’ May Unlock the Case

Legal experts say a message in Bitcoin addresses linked to the Tulip Trust could be used against Craig Wright in his case with Kleiman estate. Infamous cryptocurrency figure Craig Wright faces newfound legal challenges over more than 1 million Bitcoin (BTC) after addresses listed in the Tulip Trust were used to sign a message labeling him a fraud. Wright has long been a divisive figure within the cryptocurrency community, having made unverified claims of being Satoshi Nakamoto, the founder of Bitcoin. These claims have been met with derision and disbelief…

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