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Securities and Exchange Commission (SEC) Chairman Gary Gensler had some chilling comments for proof of stake cryptocurrency issuers on Thursday. The chairman suggested that a proof of stake (POS) consensus mechanism can bring a given cryptocurrency closer to security status. Thus, it would compel the project to operate under the commission’s laws and jurisdiction.  Bad News for Ethereum? The chairman reportedly shared his thoughts on POS cryptocurrencies with reporters after a congressional hearing. They would also coincide with the day…

After months of anticipation, September 15, 2022 finally saw the merger of the Ethereum mainnet execution layer and the Beacon Chain’s consensus layer. The Merge finally ushers in the days of Ethereum’s proof-of-stake (PoS) consensus mechanism. This renders defunct the proof-of-work (PoW) consensus for the Ethereum network. In his celebratory and congratulatory tweet, Ethereum’s co-founder, Vitalik Buterin, said the Merge “is a big moment for the Ethereum ecosystem.” And the NFT community did not hesitate to prove this fact. https://twitter.com/VitalikButerin/status/1570306185391378434?s=20&t=Lqq0NpxNi6-KQDE65m5zMA…

With Ethereum’s long-anticipated Merge finally complete, the network’s miners may have already found a new home in Ethereum Classic. The original Ethereum chain saw its hash rate explode following Thursday’s monumental upgrade.  Inheriting Ethereum’s Miners According to data from 2Miners, Ethereum Classic’s hashrate is now up to 305.65 terrahashes per second (TH/s). On late Wednesday, it stood at just 80 TH/s.  For context, 1 terrahash is equal to 1 000 000 000 000 hashes. These are guess answers generated by…

Vehicle manufacturer Tesla has just debuted its latest product, a limited edition toy whistle dubbed the Cyberwhistle. Billionaire Tesla founder Elon Musk announced the release on Wednesday as a new product catalog for the toy whistle emerged. Per the catalog, buyers can only pay for the Cyberwhistle using DOGE.  Tesla Announces the Cybertruck-inspired Cyberwhistle Musk shared news of the whistle in a Twitter post calling his audience to “Blow the whistle.” According to the product catalog, the toy was based…

In recent times, news of the Terra ecosystem’s resounding crash seems to have faded out of the limelight. However, South Korean prosecutors are set to reopen the case as they look into whether Terra’s native assets are securities.  South Korea Prosecutors Review Terra Assets On Tuesday, local publication Korean Herald shared a release highlighting the plans of Seoul’s Southern District Prosecutors Office. The report noted that the Office’s Financial and Securities Crime Joint Investigation Team has been in touch with…

The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) has cleared up some rules pertaining to Tornado Cash.  While some helpful guidance and reassurance have been provided, many questions remain regarding the Office’s designation of the privacy tool.  The Treasury reiterated that U.S. persons are no longer allowed to interact with Tornado Cash. However, anyone who had their funds trapped inside Tornado Cash prior to August 8th may apply for a license to retrieve them. “OFAC would have a…

SpurDex is a cross-chain DEX platform that supports the hassle-free trading of digital assets. The platform aims to provide a decentralized, secure, and user-friendly experience for all its users. SpurDex aspires to establish a safe and secure environment for digital asset trading. What Is SpurDex? SpurDex is an easy-to-use cross-chain DEX platform allowing you to trade digital assets in a new manner. It utilizes smart contracts to facilitate the exchange of tokens between different chains. SpurDex wants to provide the…

Leading investment firm Fidelity is set to offer its massive customer base the chance to trade Bitcoin through its online brokerage service. The news emerged via a report from Wall Street Journal which highlighted sources with ties to the company.  Speculation is Still Ongoing Fidelity manages roughly 34.4 million brokerage accounts, making it one of the biggest investment management firms globally. According to reports, the company is considering bringing BTC trading options to its retail investors. Such a move would…

Nikhil Wahi – brother to former Coinbase Product Manager Ishan Wahi – has pleaded guilty to wire fraud conspiracy using confidential information.  Guilty As Charged As reported by Reuters, the ex-manager’s brother confessed during a virtual court hearing in front of a Manhattan judge. He admitted to making cryptocurrency trades based on confidential information from his brother, who used to work at Coinbase. "I knew that it was wrong to receive Coinbase's confidential information and make trades based on that…