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New York is close to signing a two-year moratorium on Bitcoin mining into law. The state assembly passed a bill today to prevent users from renewing fossil-fuel permits for proof-of-work mining activity. New York Against Mining After passing yesterday, the bill is now headed for the Democratic-controlled State Senate. Democrats – who are more concerned with environmental protections than their Republican counterparts – have a reputation for standing against Bitcoin mining. That includes New York City Mayor Eric Adams, who…

Ethereum rollup Optimism could launch a new token in the coming weeks. The L2 network wi also introduced interesting reforms to its governance structure.  Optimism is a low-cost, high-speed Ethereum Layer 2 (L2) scaling solution created in 2019. Considering Ethereum’s longstanding problem of scalability, Optimism like other L2 chains hopes to alleviate these problems. The network has risen in popularity and use in the past 2 years. Its new governance token, OP,  will underly the layer-2 protocol and promote Optimism’s adoption in…

The city of Fort Worth, Texas is tentatively entering the Bitcoin mining industry at a government level. The six-month pilot program should establish the area as a welcoming blockchain hub. Miners at City Hall On Tuesday, the Fort Worth city council voted unanimously on a resolution to accept a donation of three Bitcoin miners. The miners – a Texas Blockchain Council donation – are worth $2,100 each. As CNBC reports, the Bitmain Antminer S9 mining rigs will mine Bitcoin 24/7…

This afternoon, Bored Ape Yacht Club raised an alarm on Twitter, announcing a forceful takeover of its Instagram account. More than $10 million worth of NFTs has been stolen in the aftermath of the attack.  According to the tweet, someone hacked the team's official Instagram account. BAYC team swiftly advised users to refrain from following any prompts or instructions given by the account. However, it appears that their announcement came too late, as many had already fallen victim. https://twitter.com/BoredApeYC/status/1518590210686308354?s=20&t=_tT-JeyNNBlpX3xJg5StsA How…

Christopher Emms and Alejandro Cao De Benos, British and Spanish residents respectively, are facing charges from US authorities for aiding North Korea's efforts against the western nation's sanctions. Emms and De Benos reportedly used and "taught" crypto to North Korean dissidents.  Defendants Collaborate to Aid Efforts to Evade Sanctions The two Europeans allegedly educated the Democratic People's Republic of Korea on digital currency and blockchain services. As a result, alongside crypto expert Virgil Griffith, they worked to provide information on…

The Central African Republic has passed a law creating a legal framework for cryptocurrencies, with a particular focus on Bitcoin. The legislation is designed to create a welcoming environment for the country’s financial sector while making money transfers more efficient. The Benefits of Bitcoin in Africa The Bill Governing Cryptocurrency in the Central African Republic was passed unanimously by the National Assembly on April 21st. It’s been entrusted to Mixed Commission on Economy, Finance and Planning/Equipment and Communications chairman Guy…

The much-anticipated Akutars collection became a nightmare for its developers, losing $34 million after its launch this weekend.  The incident occurred due to flaws in the Ethereum-based NFT project's smart contract, which resulted in freezing of assets.  An Expensive Irreversible Mistake? The development team behind the anticipated Akutars collection might have just experienced the biggest nightmare launch. While there are cases of devs rugpulling coins and absconding, this might just be the opposite. Barely a day after the Akutar launch,…

Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The Crypto Market ends the week at a total market capitalization of $1,840 trillion. Bitcoin is down by roughly 2% after a rollercoaster of a week. Ethereum lost almost 4% of its value over the past seven days. XRP decreased by nearly 10% this past week. Almost all altcoins are trading in the red, with very few exceptions. The DeFi sector lost over $2 billion from…

An aggrieved Trezor user has filed a class-action lawsuit against Intuit which is the parent company of Mailchimp. Trezor users previously reported phishing attacks as part of a breach of a Mailchimp newsletter database. Levinson v. Intuit Earlier this month, Trezor, a producer of hardware wallets, launched an investigation into phishing attacks targeting its users. This was due to a data breach involving Mailchimp's services. Alan Levinson, a Trezor user, reportedly lost $87,000 worth of cryptocurrency from his Trezor wallet…