Cathie Wood Led Ark Invest Dumps Multiple Crypto Firms Shares

  • The share price of Coinbase (COIN) rose 7.66% to $146.62 onFriday closing.
  • ARK Fintech Innovation ETF (ARKF) also sold 37,151 shares of Robinhood.

It was reported on December 8 that Ark Invest, which is managed by Cathie Wood, sold 335,860 shares of Coinbase (COIN) for $49 million. There were sales of 326,925 Coinbase shares by the ARK Innovation ETF (ARKK), 2,367 COIN shares by the ARK Next Generation Internet ETF (ARKW), and 6,568 COIN stocks by the ARK Fintech Innovation ETF (ARKF).

The share price of Coinbase (COIN) rose 7.66% to $146.62 at the conclusion of trading on Friday. After reaching a new high of $147.86, traders continued to purchase the dips for two days in a row. There has been a price increase of about 336% so far this year.

A total of 180,422 shares of Coinbase (COIN) valued at $25 million were sold by Ark Invest on December 6th. Ark Invest made $34 million after selling 237,572 shares of Coinbase (COIN) on December 5th.

Selling Continues

The Ark Invest funds managed by Cathie Wood also sold their shares in GBTC. During the most recent two declines, 185,754 GBTC shares were sold by ARK Next Generation Internet ETF (ARKW). Since October, ARKW has sold almost 800,000 GBTC shares.

An extra 102,672 GBTC shares, valued at $3.6 million, were sold by ARK Next Generation Internet ETF (ARKW) on December 8th. At the same time, for the first time in the last two months, ARK Fintech Innovation ETF (ARKF) sold 37,151 shares of Robinhood Markets (HOOD).

The crypto community has been wondering whether Cathie Wood is really optimistic on Bitcoin since the investment management business has been selling crypto sector related firms shares regularly since October.

Highlighted Crypto News Today:

Ethereum Hits $2400 as Bullish Sentiment Triggers

Ethereum Price Faces Brief Correction Post Recent Strong Rally

  • At the time of writing, ETH is trading at $2242, down 0.53% in the last 24 hours.
  • If the price manages to go past $2270 level then it will likely retest $2311.

Whales now possess a larger share of Ether than a year ago, according to IntoTheBlock. Recent reports suggested a significant growth in the holdings of Ethereum whales. An increase from 32% in January to about 35% was shown by the figures.

There has been a noticeable rising tendency over the last several months. And the proportion of whale ownership has increased from 34% in August to above 38% recently.

Inflows into digital asset investment products reached $1.7 billion over nine straight weeks, the greatest spike since late 2021. With a total of $1.6 billion so far this year, Bitcoin garnered over $1 billion in monthly inflows in November. Ethereum too had $126 million in inflows, indicating a major shift in sentiment.

Lido Finance, the market leader in Ether liquid staking protocols, had a nearly 7% increase in its total value locked (TVL) over the previous week. This was likely caused by a spike in staking deposits on the protocol and an increase in the prices of ETH and MATIC. DefiLlama statistics indicated that Lido’s TVL increased by 25% in the past month, reaching roughly $21.32 billion.

Minor Correction Underway

At the time of writing, ETH is trading at $2242, down 0.53% in the last 24 hours as per data from CoinMarketCap. Moreover, the trading volume is down 33.86%. The price recently reached $2311 level where it faced severe selling pressure by bears. This was followed with a minor correction.

If the price manages to go past $2270 level then it will likely retest $2311 resistance level. However, if the bears drive the price below $2228 then it will likely test $2194 support level.

IEEE Embraces Avalanche Blockchain for Boosting Tamper-Proof Credentialing System

With more than 426,000 members in over 160 nations, IEEE has a considerable worldwide influence. Through its publications, conferences, technological standards, and professional and educational activities, the organization is renowned for motivating a worldwide community. With more than 75,000 members, India is the country with the second-largest IEEE membership outside of the US. IEEE, a pioneer in technological standards, has taken a major step forward in the acceptance of Web3 technologies with its endorsement of the blockchain for credentialing.

With the help of this innovative project, all IEEE trainees and users will get tamper-evident credentials, ensuring a quick and safe verification procedure. The blockchain-based solution, based on the Avalanche blockchain, guarantees the legitimacy and integrity of these credentials, which are essential in both business and academics.

In order to guarantee that the credentials are instantaneously verified and tamper-proof, hundreds of thousands of Indian users will get them as part of the first collaboration between IEEE and Zupple Labs on the Avalanche Blockchain.

It is anticipated that the deployment of this blockchain-based credentialing system on the Avalanche blockchain will improve IEEE’s operations in terms of transparency, efficiency, and security, benefiting all parties involved and guaranteeing that credentials the organization issues are instantly verifiable and tamper-proof. Because of its practically indefinitely scalable design, customizability, and lightning-fast transaction rates, Avalanche has acquired popularity very rapidly. Additionally, the Subnet model of the platform offers blockchain networks and builders unparalleled possibilities and composability.

Devika Mittal, Head of India, Ava Labs stated:

“We are so excited to implement a blockchain-based credentialing system on the Avalanche blockchain. This initiative will revolutionize the way digital credentials are issued and verified, delivering unprecedented levels of transparency, security, and efficiency. We are confident that Avalanche’s unique capabilities will make it the preferred platform for credentialing in the Web3 era.”

With IEEE’s status as a leading worldwide technological organization, this project represents a major endorsement for the Web3 ecosystem as a whole. The IEEE’s support of the open blockchain (Avalanche) for credentialing establishes a significant precedent, just as its standards have been helpful in a number of technical fields. Global innovation and economic progress are fostered by it as it stimulates increased engagement in the Web3 ecosystem and builds trust and cooperation amongst varied stakeholders.

Michael Jackson’s 1967 Studio Recording To Be Released on Blockchain

  • Anotherblock, a blockchain music platform, will digitally release the song.
  • Recorded at One-Derful in Chicago on July 13, 1967, it features Michael Jackson.

Releasing as a “digital vinyl” via a blockchain-based platform on December 7, the first-ever studio recording of the young legendary pop star Michael Jackson, which had been concealed for more than half a century, will be a landmark event.

Anotherblock, a blockchain music platform, will digitally release the song “Big Boy (One-Derful Version)” and make it available via its player, along with photos of the master tape and musical stems. Both the open and limited-edition versions will be accessible for four days. Michael Jackson’s mom, Katherine, was quite enthusiastic about the release.

Katherine stated:

“Recordings of our musical heritage find a new rhythm for the digital age. It is a testament that the Jacksons’ story, just like our music, remains timeless.”

Elevating It Beyond Just a Commodity

Recorded at One-Derful in Chicago on July 13, 1967, it features Michael Jackson, then eight years old, and his siblings during their first studio session. The recording’s owner, Recordpool, and Anotherblock, a Swedish blockchain-based music and royalty marketplace, worked together to make available the track.

Major musicians such as Justin Bieber, Rihanna, and The Weeknd have all collaborated with Anotherblock before.

Michel Traore, co-founder and chief executive officer of Anotherblock stated:

“Doing this drop as a digital vinyl on-chain makes it possible to build stories and community around the song and elevate it beyond being just a commodity.”

He expressed his enthusiasm for the release, seeing it as a further opportunity to disrupt the music industry’s digital ownership landscape. 

Highlighted Crypto News Today:

Worldcoin Foundation Launches $5 Million Grant Program

Bitcoin Futures Open Interest on CME Witnesses Massive Uptick

  • Bitcoin futures offered by CME have increased from $3.63B to $5.20B in the last 30 days.
  • On Tuesday, December 12, CME will release their most recent report.

The Chicago Mercantile Exchange (CME), a world leader in derivatives, has seen open interest in Bitcoin futures approach $5.2 billion, just $200 million short of the record high set in late October 2021.

According to statistics compiled by Coinglass, the open interest in Bitcoin futures offered by CME has increased from $3.63 billion to $5.20 billion in the last 30 days. With Bitcoin’s present surge, the open interest rise has occurred in tandem with the cryptocurrency’s rapid growth.

Between October 1 and October 21, 2021, open interest in Bitcoin futures on CME increased from $1.46 billion to $5.45 billion. Coinciding with the sharp increase in open interest, Bitcoin’s price jumped dramatically, going from $45,000 to $66,000 back then.

Multiple Factors

Although the open interest increase demonstrates a resurgence in Bitcoin’s popularity, observers note that it does not provide light on the stance of CME traders. According to analysts, CME’s report to the U.S CFTC on November 28 revealed that the “big players” on its platform were net short with 20,724 short orders vs 18,979 longs.

On Tuesday, December 12, CME will release their most recent report; nevertheless, investors will not have access to specific information on the positions of CME’s participants.

The huge price increase in Bitcoin is due to a number of factors, not the least of which is anticipation that a number of spot ETF products may be approved by the SEC. Early January is the target date for a decision about the ETFs.

When CME overtook Binance as the leading exchange for Bitcoin futures open interest in November, many saw it as a sign that mainstream financial institutions were starting to show more interest in crypto goods.

Highlighted Crypto News Today:

Coinbase Simplifies Crypto Transfers with Shareable Links

Robinhood Crypto Trading Volume Surges by 75% in November

  • With the current crypto market rise, Robinhood might be aiming for a more lucrative Q4.
  • Since the start of 2023, Robinhood stock prices have increased by 18%.

The total volume of crypto trading on Robinhood increased 75% month-on-month in November. On December 4th, Robinhood reported in a Form 8-K filing with the U.S SEC that the crypto notional trading volumes for November were over 75% higher than the levels seen in October 2023.

Despite this activity, trading volumes for stocks and options contracts were almost unchanged from October. After reporting a 55% year-over-year decline in crypto notional volumes in its Q3 results release, Robinhood reverses course with an impressive month.

Aiming for a Lucrative Q4

Because of this, the $467 million it made in Q3 fell short of what analysts had predicted. As a result of falling cryptocurrency volumes in 2022, transaction-based revenues fell 11% year-on-year to $185 million.

With the current crypto market rise, Robinhood might be aiming for a more lucrative fourth quarter. In a November earnings call with investors, Vlad Tenev, co-founder and CEO of Robinhood, predicted that the platform could generate “nine figures” in yearly revenue.

Retail investors are showing interest in cryptocurrency again, according to Tenev, who spoke to Yahoo Finance on December 4th. Since the start of 2023, Robinhood stock prices have increased by 18%.

On the other hand, after a peak of little over $13 in 2023, the stock has been declining since the middle of July. Following a 2.47 percent rise, Robinhood stock was trading at $9.55 earlier today.

Providing commission-free stock trading to customers in the UK is undeniably a daring move by Robinhood. However, Tenev is eager to replicate the success of the company’s US business before the epidemic by reviving the UK market via cost reductions.

Highlighted Crypto News Today:

BlackRock and Bitwise File Revised Spot Bitcoin ETF Applications

Institutional Investors Bullish on Bitcoin as per Bybit Research

  • Compared to ethereum’s 87% increase, bitcoin’s price has increased by almost 140% YTD.
  • Ethereum (ETH) holdings have usually dropped following the Shapella update.

New data from Bybit Research suggests that institutional investors are suspicious about altcoins, have mixed feelings about ether, and are positive on bitcoin. Institutional investors almost doubled their Bitcoin (BTC) holdings in the first three quarters of 2023.

Due to bullish market mood and the expectation that the U.S. SEC would approve a spot Bitcoin exchange-traded fund (ETF) in September, half of their assets were denominated in BTC. Their position stands in stark contrast to regular traders’ smaller Bitcoin holdings, which Bybit attributes to greater leverage levels.

Bitcoin Outshines Altcoins

According to the research, institutional traders and “whales,” were wary of altcoins. Despite a temporary uptick in May, data shows that traders’ altcoin holdings have generally declined. In August, there was a noticeable decline, especially among institutions, which indicates that they are being careful with these riskier assets.

Despite a spike in September among institutional traders amidst a favorable crypto sentiment and enthusiastic markets due to ETF announcements, data reveals that Ethereum (ETH) holdings have usually dropped following the Shapella update.

K33 Research said in an October report that it was changing its attitude on asset allocation and recommending a return to bitcoin as a result of ether’s extended decline versus BTC since July 2022 and a lackluster reaction to the recently introduced ETH ETFs based on futures.

Compared to ether’s 87% increase, bitcoin’s price has increased by almost 140% so far this year. At the time of writing, Bitcoin is trading at $41,573, up 5.42% in the last 24 hours as per data from CoinMarketCap.

Hacker Targets Safe Wallet Users Via Address Poisoning Attacks

  • About 10 Safe Wallets lost $2.05 million due to poisoning assaults.
  • The same criminal has allegedly taken $5 million from 21 victims during the last 4 months.

The number of victims for a crypto hacker who specializes in “address poisoning attacks” has risen to 21. Moreover, in the last week alone, they have stolen almost $2 million from Safe Wallet customers. About 10 Safe Wallets lost $2.05 million due to poisoning assaults that occurred between November 26 and December 3, according to Scam Sniffer, a Web3 fraud detection platform.

Scam Sniffer’s analysis of Dune Analytics indicates that the same criminal has allegedly taken $5 million from 21 victims during the last four months. One victim reportedly had $10 million in cryptocurrency stored in a secure wallet, but “luckily” only lost $400,000.

Poisoning Victims Transaction Histories

Address poisoning occurs when a hacker uses the same starting and ending characters to generate an address that seems identical to the one a victim often uses to transfer money.

It is common practice for hackers to “poison” their victims’ transaction histories by sending them a little amount of cryptocurrency from a newly-created wallet. The victim can transfer money to the hacker’s wallet instead of the intended recipient if they mistakenly copy the look-alike address from their transaction history.

On November 30th, lending protocol Florence Finance lost $1.45 million in USDC due to a high-profile address poisoning assault that seems to have been carried out by the same cybercriminal.

With the poison and actual addresses starting with “0xB087” and ending with “5870,” the attacker may have been able to fool the protocol, according to blockchain security startup PeckShield, which reported the event at the time.

Highlighted Crypto News Today:

Rival Exchanges Gain Market Share Amidst Binance Settlement

Bitcoin Eyes Breaking Above $39,000 as Bulls Still in Control

  • At the time of writing, Bitcoin is trading at $38,790, up 0.07% in the last 24 hours.
  • If the price manages to go past the $39,000 mark then it will likely test $40,600.

The price of bitcoin has been rising sharply, and it is already approaching the $39,000 threshold. A major contributor to this gain is the recent Binance settlement. At first, the market experienced conflicting signals from the $4.3 billion settlement that Binance reached with the US DOJ.

However, the market witnessed a positive shift once the dust settled. There was a 17% decline in Binance’s Bitcoin reserves in the outset, but those reserves have subsequently increased by over 1%.

Optimistic Outlook

Institutional investors are pouring a lot of money into Bitcoin and other cryptocurrencies, which is also fueling the current boom. Institutional investors have poured over $1.5 billion into the cryptocurrency market during the last year, according to CoinShares. The largest notable weekly influx since November 2021 was the $311 million that institutional investors put into Bitcoin only last week.

As the spot Bitcoin ETF clearance draws near, experts are getting more optimistic. James Seyffart, an analyst at Bloomberg, has provided some crucial information; he predicts that the approval date would fall anywhere between January 5 and January 10, of next year.

This prediction follows a series of intentionally postponed due dates, suggesting the SEC is making a coordinated effort to approve several ETF applications simultaneously. At the time of writing, Bitcoin is trading at $38,790, up 0.07% in the last 24 hours as per data from CoinMarketCap. Moreover, the trading volume is down 19.62%.

If the price manages to go past the $39,000 mark then it will likely test $40,600 resistance level. However, if the price goes below $38,260 then it will likely test $37,520 support level.

Flare Labs Tests FAssets on Coston Network, Eyeing Non-Smart Contract Tokens

A test version of FAssets has been successfully deployed on Flare’s Coston testnet by renowned blockchain research and development firm Flare Labs. Enabling DeFi and smart contracts for older tokens has reached a major milestone with this.

Non-smart contract tokens like BTC, XRP, and DOGE may be utilized securely with smart contracts on Flare thanks to the FAssets system. These non-smart contract tokens may be minted into FAssets and used in decentralized Flare network apps to generate rewards or yield. The assets may also be bridged to other networks once they are on Flare.

Hugo Philion, CEO of Flare Labs, stated:

“More than 70% of the total value of all blockchain assets do not have smart contracts and therefore can’t be efficiently deployed in DeFi. FAssets are formally a Delta neutral synthetic with multi collateral backing. They enable these legacy assets to be represented on a smart contract chain without requiring a centralized third party. For developers, it will be a new and trustless means to access new potential users and a large amount of currently untapped value.”

Before launching on the Flare mainnet, FAssets will undergo an initial private Beta on Flare’s Coston testnet, followed by an implementation on the Songbird canary network.

All of the system’s primary components will be covered in the beta, with Flare Labs and its early partners taking on all essential tasks and offering the infrastructure. Test assets will make it possible to simulate market volatility and evaluate how resilient the system is under pressure. External participants will be allowed to join as the beta test moves forward.

Users and dapps who provide sustainable value to Flare will be rewarded with FLR tokens from the cross-chain incentive pool once FAssets become live on the Flare mainnet, in addition to receiving DeFi yields. 

FAssets explanation video:

Leveraging Deep Learning for Smart Contract Vulnerabilities Solution

The purpose of this newly published research by Xueyan Tang is to investigate the use of deep learning in the identification of smart contract vulnerabilities. The research was co-authored by Yuying Du, Alan Lai, Ze Zhang and Lingzhi Shi.

Blockchain technology relies heavily on smart contracts, which are critical to the creation of decentralized apps. On the other hand, system failures and monetary losses may result from smart contract weaknesses. Static analysis tools are often used to find vulnerabilities in smart contracts, however because of their strong dependence on preset criteria and limited ability to do semantic analysis, they frequently produce false positives and false negatives.

These pre-established rules also fail to generalize or adapt to new facts, and they go out of date very rapidly. Deep learning techniques, on the other hand, may learn the characteristics of vulnerabilities during the training process and do not need predetermined detection algorithms.

Our proposed deep learning-based solution, Lightning Cat, is presented in this work. We train three deep learning models—Optimized-CodeBERT, Optimized-LSTM, and Optimized-CNN—to identify vulnerabilities in smart contracts. According to experimental data, the Optimized-CodeBERT model outperforms previous approaches in the Lightning Cat that we offer, obtaining an f1-score of 93.53%. We get portions of susceptible code functions to preserve crucial vulnerability aspects in order to accurately extract vulnerability attributes.

We were able to more precisely capture the syntax and semantics of the code by preprocessing the data using the CodeBERT pre-training model. We assess our suggested solution’s viability by using the SolidiFI-benchmark dataset, which comprises 9369 susceptible contracts that have been injected with vulnerabilities of seven distinct kinds.

The Lightning Cat may be expanded to other areas of code vulnerability identification in addition to smart contract vulnerability detection25.

Lightning Cat has the ability to identify and understand all kinds of vulnerabilities via extensive training and learning on a vast array of code samples. In order to better discover code vulnerabilities, it additionally preprocesses data using the CodeBERT pre-trained model. It may thereby identify several types of code vulnerabilities, improving the code’s security and reliability.

Deep Learning for Detecting Flaws in Smart Contracts

Our suggested Lightning Cat tool, which greatly enhances model performance, uses the previously discussed techniques to extract important information from vulnerability code and has robust semantic analysis capabilities.

Model 1: Optimized-CodeBERT

A pre-training model called CodeBERT was created especially for learning and parsing source code. It is built on the Transformer architecture. CodeBERT learns about the syntax and semantic links found in source code, as well as the dynamic interactions between various code segments, by pre-training on large-scale code corpora.

Input IDs and masks cannot be directly processed for the Optimized-LSTM and Optimized-CNN models. In order to further analyze the input and turn it into tensor representations of embedding vectors, CodeBERT is used.

To produce meaningful representations of the source code data, the CodeBERT model is fed the input IDs and attention masks that were acquired during the preprocessing phases. These embedding vectors may be integrated with Optimized-LSTM and Optimized-CNN models for later vulnerability identification by serving as inputs for such models.

Model 2: optimized-LSTM

Specifically engineered to handle sequential data, the Optimized-LSTM model may record syntactic-semantic information as well as temporal dependencies. Our built Optimized-LSTM model offers a serialization-based representation of Solidity source code, accounting for the statements and function calls in the code, for the purpose of detecting smart contract vulnerabilities.

The logical structure and execution flow of the code may be understood thanks to the Optimized-LSTM model’s ability to capture the syntax, semantics, and dependencies found in the code.

Model 3: optimized-CNN

A feedforward neural network with notable benefits for handling two-dimensional input, as the two-dimensional structures code represents, is the convolutional neural network (CNN). By converting the code token sequence into a matrix as part of our model architecture, CNN is able to successfully extract local features from the code and capture its spatial structure. This allows CNN to catch key patterns within the code as well as the links between code blocks and grammatical structure.


This work presents Lightning Cat, a deep learning tool that leverages three models (Optimized-CodeBERT, Optimized-LSTM, and Optimized-CNN) to identify vulnerabilities in smart contracts. After optimizing and comparing three models, we discovered that Optimized-CodeBERT performed best when it came to evaluation parameters like F1-score, Accuracy, and Precision.

This study preprocessed the data using the CodeBERT pre-trained model, which enhanced the performance of code semantic analysis. We removed problem code segments functions during data preparation, which addressed the length restriction issue with deep learning for processing lengthy texts in addition to taking into account the essential elements of smart contract vulnerability code.

By avoiding problems like overfitting from too short texts or ambiguous characteristics from too lengthy texts, this method enhances the performance of the model. The findings indicate that the suggested approach performs better at detection because it uses more sensible model optimization and data pretreatment.

The Optimized-CodeBERT model fared better in identifying three sorts of vulnerabilities than Slither, Optimized-LSTM, and Optimized-CNN, but it was less effective in detecting one type, according to this paper’s analysis of the detection performance of each type of vulnerability.

This is due to the fact that many models vary in terms of their learning algorithms, structures, and parameters, all of which have an impact on how well they model and generalize.

As a result, our goals for future work include enhancing Lightning Cat’s three models’ performance and expanding its use beyond the identification of smart contract vulnerabilities to other code security domains.

Philippines SEC Issues Warning Over Binance’s Unauthorized Operations

  • The SEC said that Binance had been illegally advertising its services in the nation.
  • Securities issuers must also be registered in the Philippines before they offer products.

The Philippines SEC has reported that crypto exchange Binance has been operating illegally in the country. On November 28, the Securities and Exchange Commission (SEC) of the Philippines warned the public that Binance does not have the necessary authorization to sell or offer securities in the nation.

In order to sell assets to the public, an exchange has to file for registration and provide extensive details about them, according to the release. The issue price, security type, and other details are all part of this precise data.

Trouble Continues for Binance

Securities issuers must also be registered in the Philippines before their products may be offered for investment, according to the Securities Regulation Code (SRC). According to the statement, in order for the issuer to sell or offer securities to the public, they need also get a secondary license.

The SEC said that Binance had been illegally advertising its services in the nation and that it had also been operating without the required license. The regulator has issued a warning that some businesses might face criminal charges under Section 28 of the SRC if they promote or trade on Binance.

Moreover, in accordance with Section 73 of the SRC, the statement states that this is a crime punishable by a fine of up to 5M Philippine pesos ($90,300) or 21 years in jail, or both.

Changpeng Zhao (CZ), CEO of Binance, resigned a few days ago after pleading guilty in a U.S. court to breaking U.S. Anti-Money Laundering rules. To fight cryptocurrency fraud, the SECs of the Philippines and the United States joined forces in September 2023.

Highlighted Crypto News Today:

Cristiano Ronaldo Faces Lawsuit Over Binance Promotion

Crypto Addresses Holding Dogecoin Hits 5 Million Milestone

  • Fewer than 5,000 addresses own more than 80% of DOGE’s supply.
  • Over 50% of Dogecoin investors are now sitting in a profitable position.

Following data compiled by on-chain analytics company IntoTheBlock, the number of crypto addresses containing DOGE has now surpassed 5 million, marking a significant milestone.

With a 1,000% increase in the last 10 days, the number of completed transactions on the network reached a new high, while the quantity of active addresses on the network nearly doubled to 168,000, achieving a record high since March 2022.

Optimism Among Investors

Despite the prominence of these numbers, the problem of DOGE’s concentrated ownership persists. Fewer than 5,000 addresses own more than 80% of DOGE’s supply, suggesting that the price of the cryptocurrency is controlled by a small group of traders.

A number of similar tokens, such as Shiba Inu, were created in response to Dogecoin’s meteoric rise to fame in early 2021, when Elon Musk posted parodies based on the token. An interesting fact emerged on November 25th, according to statistics from IntoTheBlock: over 50% of Dogecoin investors are now sitting in a profitable position.

In essence, this demonstrates that these investors have faith in Dogecoin’s ability to retain value. It may also suggest that these holders are considering selling DOGE soon in order to cash in on this windfall. Notably, 57% of all wallet addresses that own DOGE are profitable. This indicates that the buyers of DOGE paid less than the current price of $0.07777 per coin as per data from CoinMarketCap.

Moreover, a large number of “whale” investors have shown significant interest in Dogecoin recently, as seen by the 121 new wallets that have appeared, each holding at least 1 million DOGE. Furthermore, long-dormant high-value wallets are once again in motion.

Highlighted Crypto News Today:

XRP Experiences Bearish Momentum Following a Brief Surge to $0.63

Vitalik Buterin Sheds Light on Risks of Advanced AI Over Humans

  • Buterin said that super intelligent AI would wipe out the human race.
  • Integrating brain-computer interfaces (BCI) was Buterin’s proposed solution.

According to Vitalik Buterin, co-founder of Ethereum, highly sophisticated AI might potentially overtake humans and become the next “apex species” if current trends continue.

He did, however, say that the outcome would depend on the degree to which humans meddle in AI research and development. Buterin, who is considered by some as a cryptocurrency industry pioneer, wrote a blog post on November 27 in which he claimed artificial intelligence (AI) is “fundamentally different” from other modern innovations because it has the potential to develop a new kind of “mind” that could rebel against human interests.

Buterin said that super intelligent AI, in contrast to climate change, a man-made epidemic, or nuclear war, would wipe out the human race and its remnants if it perceives humans as an existential danger.

Humans are the Brightest Stars

Buterin referenced a poll conducted in August 2022 among more than 4,270 machine learning experts, who projected a 5-10% probability that AI would wipe humans off the face of the earth.

Integrating brain-computer interfaces (BCI) was Buterin’s proposed solution for giving humans more command over advanced AI-based computing and cognition. An implanted device that allows the brain’s electrical activity to be sent to an outside device—like a computer or a robotic limb—is called a BCI.

However, Buterin came to the conclusion that “we, humans, are the brightest star” in the cosmos because, for centuries, and maybe forevermore, we have created technology to increase human potential.

A new partnership between Mastercard and artificial intelligence firm Feedzai was announced earlier this month. According to Mastercard, the group plans to improve its ability to detect and prevent fraud that is funneled via crypto exchanges.

According to the report, Feedzai is set to integrate directly with Mastercard’s CipherTrace Armada platform, which is a financial tool designed to keep an eye out for fraudulent activities and other unusual activities across thousands of crypto exchanges.

Highlighted Crypto News Today:

Solana’s Mad Lads NFTs Hit Record-Breaking All-Time High

OKX Announces Offering Crypto Services in the Brazilian Market

  • The exchange is concentrating on offering a Brazilian real fiat-on-ramp gateway to users.
  • OKX will be launching a local cryptocurrency exchange and Web3 wallet platform.

Crypto exchange OKX recently announced that it will be expanding its offerings in Brazil by launching a local cryptocurrency exchange and Web3 wallet platform. The organization announced on November 27 that it is concentrating on offering a Brazilian real fiat-on-ramp gateway to cryptocurrency trading and DeFi.

OKX Brazil’s general manager Guilherme Sacamone recently said that the country’s market has “enormous potential” to be a pioneer in embracing crypto and DeFi.

Strategic Expansion

The vast majority of Brazilian investors (92%) desire “clear and transparent information” regarding their investments, according to a poll cited by OKX. In addition, 86% of respondents believed that proof-of-reserves (PoR) had the potential to positively affect the credibility and stability of the crypto market.

Chainalysis reports that by 2023, Brazil had become one of Latin America’s three major cryptocurrency marketplaces, along with Argentina and Mexico. The research puts Brazil in ninth position for total global crypto usage.

According to the available data, Brazil also has the most DeFi-related engagement and is the regional leader in decentralized exchange. Stablecoin Tether (USDT) has witnessed significant growth in popularity over the last year, and was used in 80% of all cryptocurrency transactions in the nation, according to the revenue service agency.

Moreover, the Brazilian government announced in the month of October that its national identity program will use blockchain technology. Three states (Rio de Janeiro, Goias, and Parana) will be the pilot locations for this initiative. These areas are now preparing to implement a system for issuing identification documents using blockchain technology.

Highlighted Crypto News Today:

Terra Classic Tokens LUNC and USTC Surge Rapidly, What Sparked the Rally?

Bitcoin Faces Severe Selling Pressure as Bulls Domination Fades

  • At the time of writing, Bitcoin is trading at $36,908, down 1.56% in the last 24 hours.
  •  If the price manages to go above $37,810 then it will likely retest $38,260 level.

Bitcoin bulls are keeping a close watch on past developments that indicate December might be another positive month for the BTC price.

Bitcoin’s price has been on an upward trend lately; it gained 28.5% in October and is anticipated to record a 7.18% surge by the end of November. According to the past numbers, the fourth quarter is one of the best for the crypto market all year. As of the moment, 2023’s fourth quarter is ending with a noteworthy 37.7% increase.

The mining difficulty for Bitcoin has increased again after a recent difficulty modification to the network. With this update, the mining difficulty of Bitcoin attained an all-time high (ATH), making it the sixth straight increase.

Bitcoin’s mining difficulty has reached an ATH of 67.96T after a recent tweak at block 818,496. The network’s mining difficulty increased by 3.40 percent during the last day. In the previous three months, the network’s mining difficulty increased by 22.18 percent. There was a rise of 11.35% over the last 30 days, and increase of 5.07% during the past 7 days. This will ultimately have a severe impact on the price of Bitcoin.

Bears Taking Control

At the time of writing, Bitcoin is trading at $36,908, down 1.56% in the last 24 hours as per data from CoinMarketCap. Moreover, the trading volume is up 95.55%. The price recently broke the support level of $36,980 and will likely test $36,340.

The price has been facing severe selling pressure after hitting a high of $38,260 on November 24. However, if the price manages to go above $37,810 then it will likely retest $38,260 level.

Ethereum Eyes Retesting $2128 Resistance Level as Bulls in Control

  • At the time of writing, ETH is trading at $2084, up 0.57% in the last 24 hours.
  • The price has been climbing ever since it found support at $1934 on November 22.

Vitalik Buterin, co-founder of Ethereum, was recently interviewed by Defi and the NFT platform Defiant. Buterin was on a maiden trip to Turkey. The host probed Buterin for details on Ethereum’s planned development. This year, according to Vitalik, they are adopting a more optimistic view on “staking centralization.”

He said they need to “redesign” Ethereum staking so that mining and staking pools can evolve for the better. Fixing these problems, in his opinion, will make decentralization stronger. The problem, however, is that off-chain systems are lagging behind, making it difficult to meet immediate and intermediate needs for data availability.

According to Santiment statistics, the rise in fresh demand for ETH coincided with the advance over the $2,000 crucial price mark on November 23. The market intelligence platform claims that on November 21st, the daily count of new addresses trading ETH started to trend higher and by November 23rd, it had climbed by 17%.

Bulls Striving Hard

Having broken over the key $2,000 threshold and eyeing to test the $2,128 resistance level, the price has set the scene for potential further price movement.

At the time of writing, ETH is trading at $2084, up 0.57% in the last 24 hours as per data from CoinMarketCap. Moreover, the trading volume is up 29.15%. The price has been climbing ever since it found support at $1934 on November 22.

If the price manages to break above the $2128 level, then it will likely rally further to test $2334 resistance level. However, if the price goes below $2068 level, then it will likely test the $2000 support level.

Blast Network Surges to $400M TVL Despite Security Concern Claims

  • Tuesday saw the unveiling of Blast, a new scaling network built on Ethereum.
  • Watts’ initial post stated Blast may be less safe or decentralized than users realize.

DeBank, a blockchain analytics platform, reports that in the four days following the debut of the Web3 protocol Blast network, it has amassed more than $400 million in total value locked (TVL).

Tuesday saw the unveiling of Blast, a new scaling network built on Ethereum. Most Layer-2 networks are competitive because many individuals are working on solutions to Ethereum’s slowness and high transaction costs.

Tieshun “Pacman” Roquerre, co-founder of Blur, one of the major NFT marketplaces in the field, is one of the primary drivers behind this initiative. Blast seems to have the same goals as Blur, which is to provide traders with generous incentives to use and stay with the marketplace.

Security Concerns Addressed

But in a Nov. 23 social media discussion, Polygon Labs developer relations engineer Jarrod Watts warned that the new network posed severe security vulnerabilities owing to centralization. The Blast staff addressed Watts’ thread’s criticism on their own Twitter account. Blast, in its own thread, argued that their network was just as decentralized as Optimism, Arbitrum, or Polygon.

According to claims on the Blast network’s website, it is “the only Ethereum L2 with native yield for ETH and stablecoins.” Moreover, it claims that Blast supports “auto-compounded” user balances and converts stablecoins transferred to it into “USDB,” a stablecoin that auto-compounded using MakerDAO’s T-Bill protocol.

Watts’ initial post stated Blast may be less safe or decentralized than users realize, arguing that Blast “is just a 3/5 multisig.” Allegedly, an attacker may take all of the cryptocurrency stored in its contracts if they get access to the keys of three out of five team members.

The Blast team claims that documentation detailing the protocol’s inner workings will be made public in January, when the airdrop takes place.

 Highlighted Crypto News Today:

Ethereum Eyes Retesting $2128 Resistance Level as Bulls in Control

Prosecutors Seek to Bar Binance Ex-CEO CZ from Leaving U.S

  • The United Arab Emirates and the United States do not have an extradition pact.
  • On February 23, 2024, CZ will be sentenced, and he might get more than a year in jail.

According to a court petition made by federal prosecutors on Wednesday, Changpeng Zhao (CZ), the former CEO of Binance, cannot be permitted to leave the U.S. until his February sentencing on one allegation of infringing the Bank Secrecy Act.

Along with Binance’s guilty plea to numerous criminal and civil charges related to the company’s failure to implement sufficient KYC and anti-money laundering procedures, Zhao also tendered his resignation from the cryptocurrency exchange on Tuesday. The $4.3 billion in penalties that Binance has agreed to pay are among the highest business fines in U.S. DOJ history.

The prosecution said in a petition submitted on Wednesday that Zhao, a citizen of the UAE, had “minimal ties to the U.S.” and hence may not return if granted departure.

They emphasized that they were not requesting that he be detained before to sentence but rather that he be ordered to stay in the United States. On February 23, 2024, he will be sentenced, and he might get more than a year in jail and pay a fine.

No Extradition Pact With UAE

After posting a $15 million trust fund deposit, signing a $175M personal recognizance bond, and securing additional guarantor money, Zhao is now free to depart the United States in accordance with the conditions of his bond arrangement.

Prosecutors argued in a petition on Wednesday that this is not enough. Most of Zhao’s assets are located outside the nation, so they would be unable to guarantee the $175M bond without his return.

However, they also claim that Zhao is rich enough to repay the remaining money without difficulty should he decide to do so. The United Arab Emirates and the United States do not have an extradition pact, as highlighted by the prosecutors.

Highlighted Crypto News Today:

Ethereum Maintains $2000 Amidst Market Turmoil

FTT Token Witnesses Over 20% Surge Amidst Recent Developments

  • At the time of writing, FTT is trading at $4.31, up 21.24% in the last 24 hours.
  • FTX and Alameda Research have successfully transferred $474M worth of assets in total.

Defunct crypto exchange FTX’s native FTT token has undergone a huge price spike rising over 20% over the previous 24 hours. The majority of the growth occurred during the last 10 days, when the top 10 whale wallets amassed the majority of their holdings.

According to Santiment, holders of FTT are continuing to profit amidst the recent Binance development. The top 10 wallets amassed $12.8 million worth of tokens in just 19 days, suggesting strong optimism among whales.

Growing Optimism

Recent actions taken by FTX to liquidate assets and shift large sums of funds across exchanges have sparked curiosity among investors over the possible launch of FTX 2.0. FTX and its subsidiary, Alameda Research have successfully transferred $474 million worth of assets in total.

This tactical move is a component of a larger program to manage the exchange’s finances and pave the way for the next stage, dubbed “FTX 2.0.”

This surge in price shows that institutions are very interested in buying FTX tokens despite the token’s past links to the company’s financial difficulties. Earlier this month, FTT hit a new yearly high of $5.2, demonstrating increased optimism among investors in marking a strong comeback.

However, the price could not clear this level and started a downtrend. After a brief correction, the price found support around the $3 area. The bulls yet again started dominating and the price started a fresh rally. 

At the time of writing, FTT is trading at $4.31, up 21.24% in the last 24 hours as per data from CoinMarketCap. Moreover, the trading volume is up 44.71%. Amidst the remarkable bull run, the price is up a whopping 305% in the last 30 days.

Ethereum Price Shows Signs of Recovery Amidst Market Uncertainty

  • If the price manages to go above $2062 level, then it will likely retest the $2080 mark.
  • The price of ETH is $2025, up 0.55% in the last 24 hours, at the time of writing.

“Whales” have amassed a substantial amount of Ethereum. Throughout the last year, major ETH wallets have been adding ETH to their holdings. Tuesday saw the most gain for ETH in newly established wallets. Additionally, on-chain indicators corroborate the price movement of Ethereum.

The top 200 Ethereum wallet addresses acquired 62,769,000 tokens to their holdings, according to statistics from Santiment. The combined worth of all the ETH is $124.1 billion. An accumulation of this magnitude suggests that ETH’s price is going up.

Thirty percent more Ethereum has been added to these wallets in the last twelve months. Moreover, on Tuesday, 94,700 Ethereum wallets were created, which is the largest rise since July 2023.

According to Kaiko’s analysis, average gas costs on Ethereum hit multi-month highs last week and have been steadily rising since then. Moreover, Uniswap has been playing a pivotal role because of the impact it has on transaction volumes, block space need, and gas costs, especially in meme currencies like GROK.

Market Withstands Major Event

The ongoing spat between Binance and the SEC has caused chaos in the cryptocurrency markets. However, ETH maintained its value around $2,000 in spite of a decline from $2035, while Bitcoin did drop below $37,000 and is currently trading at $36,610.

According to CoinMarketCap, the price of ETH is $2025, up 0.55% in the last 24 hours, at the time of writing. Moreover, the trading volume is up 27.57%. If the price manages to go above $2062 level, then it will likely retest the $2080 mark. However, if the price manages to go below $1964 then it will likely decline further to test $1916.  

Worldcoin (WLD) Price Recovers Lost Ground Post Recent Downfall

  • At the time of writing, WLD is trading at $2.43, up 1.63% in the last 24 hours.
  • If the price manages to go past $2.52 level, then it will likely test $2.59 resistance level.

Earlier, OpenAI shocked the world by announcing the dismissal of CEO Sam Altman. The board lost faith in Altman’s direction and cited difficulties in carrying out its duties as the reason.

The ramifications were quick and evident on the Worldcoin project which has been co-founded by Sam Altman. Earlier, as the eye-scanning crypto project grew entangled with the issues surrounding OpenAI’s leadership, the value of Worldcoin (WLD) dropped by double digits.

Worldcoin, a protocol for universal digital IDs being created by Tools for Humanity, a firm Altman co-founded, first saw its token drop on the news. But as news spread that Altman had been recruited by Microsoft, the momentum turned upside down. Microsoft has put a lot of money into OpenAI and they are in a very tight technological cooperation.

Moreover, the majority of OpenAI’s employees apparently signed a letter threatening to collaborate with Altman’s new AI endeavor at Microsoft. The proposal derives from the staff’s dissatisfaction with the OpenAI board after Altman’s dramatic dismissal.

High Volatility Anticipated

Although OpenAI and Worldcoin are two separate businesses, they have many similarities beyond their shared relationship to Altman. Amid this chaos, the price of WLD witnessed strong volatility. At the time of writing, WLD is trading at $2.43, up 1.63% in the last 24 hours as per data from CoinMarketCap.

Post the significant down fall, the WLD price found support at $1.84. The price has witnessed a strong uptick ever since. If the price manages to go past $2.52 level, then it will likely test $2.59 resistance level. However, if the price goes below $2.04 level, then it will likely test $1.72 support level.

Investors and traders will be keenly observing any major updates regarding Altman as it will have a significant effect on the price of WLD token.

Highlighted Crypto News Today:

Bitcoin Enters Consolidation Phase Eyeing to Break Over $38,000

Blockchain Association Backs Tornado Cash Over OFAC Sanctions

  • The Blockchain Association said in its brief that OFAC should follow the law.
  • In August of 2022, OFAC first sanctioned Tornado Cash.

The Blockchain Association has added its voice to that of the six plaintiffs who are challenging the sanctions placed on the cryptocurrency mixer Tornado Cash by the U.S Treasury’s Office of Foreign Assets Control (OFAC).

In a Nov. 20 amicus curiae brief to a U.S. appeal court, the crypto advocacy organization contended OFAC’s decision to punish the privacy protocol was not only unconstitutional but beyond its legislative power and was both “arbitrary and capricious” – according to the U.S. Constitution.

Autonomous Organization Claim

A group of Tornado Cash users are appealing a lower court verdict that supported OFAC’s decision to put the cryptocurrency mixer on its list of sanctioned businesses, and the Blockchain Association has submitted an amicus brief in favor of them for the second time.

Senior counsel for the Blockchain Association Marisa Coppel said in a statement released on November 20 that OFAC should concentrate on penalizing fenders rather than simply prohibiting technologies.

The Blockchain Association said in its brief that OFAC should follow the law and obtain Congressional permission before outlawing cryptocurrency mixers like Tornado Cash. Moreover, Tornado Cash, according to the Blockchain Association’s long-held belief, operates autonomously and requires no human intervention or supervision.

In August of 2022, OFAC first sanctioned Tornado Cash. It said that since 2019, people and organizations have used the mixer to launder over $7 billion worth of cryptocurrency, including $455 million looted by an organization with ties to North Korea.

A federal court rejected the motion filed by Coinbase and other cryptocurrency industry titans in early August, arguing that the US Treasury’s penalties against cryptocurrency mixer Tornado Cash went too far.

Highlighted Crypto News Today:

Kraken Co-founder Defies SEC Allegations Amidst New Lawsuit

READYgg and Aptos Labs Join Forces to Propel Web3 Adoption

A fresh collaboration between READYgg and Aptos Labs, realized via READYgg’s powerful and experienced network, will enable millions of gamers to experience web3 gaming on Aptos, the blockchain with the fastest time-to-finality required for smooth gameplay.

The new agreement will trigger up to 15 million web2 players to switch to Aptos and web3. Players may get on a whitelist to get early access to the new releases, which go live on December 6, starting on November 20.

Over 20 major web2 producers have already joined up with READYgg, which represents a library of 2,000 games played by over 200 million active gamers each month. By the end of 2023, four of these web2 publishers will now run on the Aptos blockchain, and at least twelve more will do the same by the following year.

Titles will include the first-person action game Rescue Robots Sniper Survival (Android), the hypercasual platform Minijuegos, the PC/Android/iOS roguelike dungeon crawler game Runestone Keeper, and the browser-based social gaming platform ToroFun. Web3 features like non-fungible tokens (NFTs) will be included in all of these games, and Minijuegos and ToroFun will also have unique NFT-based loyalty schemes.

Publishers that join the READYgg / Aptos ecosystem will gain access to a fast and asset portability built-in blockchain, as well as grants or possible funding through the READYgg $RDYX token, also referred to as “The Gamer’s Token.” Additionally, publishers will gain advantages from predictable Aptos usage fees, which will enable them to manage web3 components with less price volatility.

David S. Bennahum, CEO & Co-Founder of READYgg stated:

“It is difficult to overstate just how overjoyed we are about this commitment from Aptos Labs. Bridging web2 games to web3 has always been our goal, which is why we’ve built a range of tools traditional publishers can use to seamlessly reach a web3 audience and bring their typical users into the world of on-chain gaming.”

Christina Macedo, COO & Co-Founder of READYgg stated:

“Aptos Lab’s expertise will ensure that millions of web2 gamers can get to grips with web3 very quickly, without having to contend with any kind of imposing learning curve. They can just have fun, and that’s all that matters”

Mo Shaikh, co-founder & CEO of Aptos Labs stated:

“This partnership with READYgg will accelerate the delivery of studio-quality web3 games, user experiences, and compelling ownable assets.”

The goal of READYgg has always been to make it possible for billions of people—developers, players, and content providers, especially in growing markets—to readily access and enjoy web3 via games and game economies. The tools and infrastructure provided by READYgg make web3 game development more accessible and pave the way for widespread and substantial adoption of the technology. The collaboration with Aptos Labs will increase the potential of web3 gaming and provide unmatched user experiences that are on level with or superior to any worthwhile web2 game.

Ethereum Price Rallies as Overall Market Turns Green

  • At the time of writing, ETH is trading at $2040, up 4.07% in the last 24 hours.
  • If the ETH price manages to go above $2079 level, then it will likely test $2136.

Trading and custody services for Bitcoin (BTC) and Ethereum (ETH), the two biggest cryptocurrencies, are now available to a small group of customers in Switzerland via Santander Private Banking International, a division of the Spanish financial services behemoth Banco Santander.

It has been reported that in the next months, Santander Private Banking International would add other cryptocurrencies to its list of supported cryptocurrencies for its crypto service, joining Bitcoin and Ethereum.

The decision is being hailed as courageous by market watchers since it comes at a time when most large banks favor dealing with tokenization and choose to steer clear of backing cryptocurrencies that run on public blockchains. This recent development will definitely boost widespread exposure of Bitcoin and Ethereum.

Since November 16, according to Santiment, the number of “whale transactions,” those involving at least $100,000 worth of ETH, has steadily decreased. In the last 24 hours, 1,184 of these transactions were registered, according to the data.

Bulls Striving Hard

At the time of writing, ETH is trading at $2040, up 4.07% in the last 24 hours as per data from CoinMarketCap. Moreover, the trading volume is up 25.37%. The overall crypto market has been witnessing an uptick amidst election results of Argentina.

If the ETH price manages to go above $2079 level, then it will likely move further to test $2136 resistance level. On the other hand, if the price manages to go below $1967 then it will likely test $1917. Breaking below this level will likely result in price declining all the way till $1860 support level.

Meta Shakes Up AI Regulation Team Amid Generative AI Push

  • Prior to banking on AI, Meta was fully dedicated to the development of Metaverse. 
  • Since the advent of the AI boom, Meta has been playing catch-up.

It has been revealed that social media behemoth Meta (Facebook) has abolished the department that oversees the regulation of its AI initiatives under development and deployment. Several members of the regulation AI team at Meta have apparently moved to the generative AI product team, while others have joined the AI infrastructure group.

The goal of Meta’s newly formed generative AI team is to create products that can produce language and visuals that are indistinguishable from those created by humans. It occurred when several corporations in the IT sector invested heavily in machine learning research and development to ensure they would not fall behind in the AI arms race. Since the advent of the AI boom, several of the major tech corporations, including Meta, have been playing to catch-up.

New Focus Post Metaverse

Nearing the conclusion of its “year of efficiency,” as Facebook CEO Mark Zuckerberg put it during a February earnings call, the reorganization makes sense. So far, it has meant a wave of layoffs, mergers, and team realignments across industries.

Ensuring AI safety has been a goal of leading companies in the area, particularly as regulators and other authorities pay more attention to the emerging technology’s potential hazards. An industry organization dedicated to establishing security standards as AI develops was founded in July by Anthropic, Google, Microsoft, and OpenAI.

Prior to banking on AI development, Meta was fully dedicated to the development of Metaverse. To put it mildly, there have been some bumps on the road to making the metaverse a reality. As was reported at the end of last month, Meta’s Reality Labs division, where the company’s metaverse expansion initiatives are housed, has lost over $46.5 billion since 2019.

Highlighted Crypto News Today:

Worldcoin (WLD) Surges 20% on Sam Altman’s Reinstatement Demands

Worldcoin (WLD) Surges 20% on Sam Altman’s Reinstatement Demands

  • According to reports, OpenAI’s top investors have been pushing to have Altman reinstated.
  • At the time of writing WLD token has increased by 19.86% in the previous 24 hours.

There has been a massive uproar and intense discussion among the board members after the whole ordeal that happened this past Friday with the departure of OpenAI co-founder Sam Altman. According to reports, OpenAI’s top investors have been pushing to have Sam Altman reinstated as the company’s chief executive officer.

Sam Altman was abruptly removed from his position as CEO of OpenAI; nevertheless, investors including Microsoft Corp., Thrive Capital, and Tiger Global Management have reportedly been lobbying for his reinstatement. The prominent investors who control a combined $10 billion are working together to reinstate Altman.

Strong Backing for Sam Altman

Moreover, a push has been made for a board revamp, and new members have been discussed as part of this effort. Reportedly, there have been discussions about replacing the present board, but no decisions have been taken as of yet. Ex-Salesforce Inc. co-CEO Bret Taylor is a name that has been mentioned as a possible new board member.

Both investors and Altman were taken aback by the board of OpenAI’s sudden decision to fire him. By developing improvements in tools that have altered a variety of jobs, Altman was instrumental in changing the organization from a non-nonprofit into a lucrative enterprise.

After the news of Worldcoin co-founder Sam Altman’s departure from OpenAI became public, the value of the WLD token, which is associated with the project, plummeted. Mira Murati, formerly the chief technology officer, has been appointed to the role of temporary chief executive officer. However, with the announcement of demand for reinstatement the WLD token has increased by 19.86% in the previous 24 hours as per statistics from CoinMarketCap.

Highlighted Crypto News Today:

Bitcoin Enters Consolidation Phase Eyeing Significant Breakout

Sam Altman’s Exit Triggers 13% Drop in Worldcoin (WLD) Token

  • Chief Technology Officer Mira Murati has been promoted to the position of interim CEO.
  • At the time of writing, WLD is trading at $1.91, down 12.91% in the last 24 hours.

As per data from CoinMarketCap the price of the WLD token, which is tied to the Worldcoin project, fell by 13% after the news of co-founder Sam Altman’s resignation from OpenAI was made public. After an evaluation, the OpenAI board decided to remove Altman as CEO due to insufficient openness in their communications. As a result, the board no longer had faith in his ability to lead.

According to the latest information released by the organization, Chief Technology Officer Mira Murati has been promoted to the position of interim CEO. Since Mira has been a part of OpenAI’s leadership team for as long as five years, she is an obvious pick for the interim role.

Significant Reaction to Exit

At the time of writing, WLD is trading at $1.91, down 12.91% in the last 24 hours. Moreover, the trading volume is up 13.28%. Despite the sudden nosedive the price is still up 19.91% in the last 30 days.

WLD has fallen 42% from its all-time high of $3.30 reached in July, when Worldcoin first emerged from beta. The wider market for AI coins and tokens didn’t seem to be affected by Altman’s departure.

Tools for Humanity, with offices in San Francisco and Berlin, created Worldcoin, a biometric cryptocurrency. Sam Altman, a co-founder of OpenAI, together with Max Novendstern and Alex Blania launched the company in 2019 with funding from Andreessen Horowitz.

Despite strong opposition from privacy activists, Worldcoin emerged from beta in July 2023. Several nations, however, had problems with Worldcoin scanning citizens’ irises with silver orbs. Kenya stopped accepting new participants out of fear for their safety and their privacy. However, the United Kingdom, Germany, and France have all cast doubt on the concept and several initiated enquiry against the practices.

Highlighted Crypto News Today:

Mastercard’s Blockchain and Digital Asset Head Deems CBDCs Unnecessary

dYdX Chain Unveils New Bridge UI Along with Staking Feature

The dYdX Foundation announced the open-sourcing of software for a Bridge User Interface. If implemented, this interface might let users convert from ethDYDX to DYDX, which is the layer 1 (L1) token of the dYdX Chain.

The dYdX Ecosystem has lately seen three noteworthy advances:

  • October 24, 2023-The launch of the dYdX Chain open-source software was announced by dYdX Trading Inc.
  • October 26 2023 – The dYdX Operations subDAO revealed that Genesis Validators took part in the development of the first block of the dYdX Chain, marking the mainnet genesis of the dYdX Chain.
  • October 30 2023 – The deployment and public release of the Bridge User Interface was announced by the dYdX Operations subDAO.

The dYdX Operations subDAO announced that a Bridge User Interface has been deployed and made accessible to the public, subsequent to the dYdX Chain’s mainnet genesis and the software’s open sourcing. With this advancement, users may now link their DYDX tokens from Ethereum to the dYdX Chain, increasing the token’s potential uses. One may utilize the bridging tutorial provided here or go to to convert ethDYDX into dYdX Chain DYDX. The next few days should see the publication of a staking guide.

Pre-Genesis, Genesis, and Post-Genesis are the three stages of dYdX Chain Genesis that were emphasized in a recent article by the dYdX Operations subDAO. There are two phases in the Post-Genesis phase of the dYdX Chain: Alpha and Beta.

The network’s security and stability are given top priority throughout the Alpha stage, according to a mention. A key component in attaining this stability is the quantity of DYDX tokens that are staked to dYdX Chain Validators. Staking DYDX adds to the security of the dYdX Chain. It becomes harder for concerted assaults to sway a consensus decision when more DYDX holders decide to stake their tokens across a variety of Validators in the network and as the overall quantity of stake on the network rises.

A successful dYdX Chain governance vote and performance metrics are two of the most important requirements for moving from the Alpha to Beta stage. Limited trading capability is anticipated to be made available during the beta stage, opening the door for the dYdX Chain’s full production iteration.

The dYdX Operations subDAO will decide on public accessibility during the Beta stage, operating a protocol front-end and contracting the function of an indexer. Further information is available on the dYdX Operations subDAO blog, here

See this article for more information on the open-sourced bridge User Interface program developed by the dYdX Foundation.

Ethereum Makes a Comeback After Facing Severe Selling Pressure

  • At the time of writing, Ethereum is trading at $2044, up 2.94% in the last 24 hours.
  • The ETH price recently found support at $1950 after facing intense selling pressure.

A decision on the Grayscale Ethereum futures ETF proposal has been postponed as the United States SEC delays its judgement. This proposal was first presented to the SEC by Grayscale Investments in September. It outlined a fund in which investors could buy shares based on their forecasts for the value of Ethereum.

The SEC has extended the time it takes to make a decision pertaining to the submission, as it often does with crypto-related products. The regulatory authority said they needed more time to think over the implications of the proposed rule change.

According to the latest analysis by CoinGecko, L1 blockchains are still the most popular choice among TVL investors. In particular, it is projected that the size of the blockchains in this group is 9.6 times that of their L2 counterparts.

Despite a surge in TVL for Layer-2 blockchains this year, this remains the case. As of October 2023, Ethereum’s TVL was valued at roughly $23 billion, making it the market leader.

Bulls Fight Back

At the time of writing, Ethereum is trading at $2044, up 2.94% in the last 24 hours as per data from CoinMarketCap. However, the trading volume is down 9.57%. The ETH price managed to break above $2000 after falling below the level briefly.

The ETH price recently found support at $1950 after facing intense selling pressure. If the price manages to go above $2078 level, then it will likely test $2135 resistance level. However, if the price goes below the $1950 mark then it will likely decline further to test $1859 support level.