Author: Kent Tenix

Speaking for the Blockchain Industry Coordinating Committee of Nigeria (BICCoN), the current legal tussles between Binance and the Nigerian authorities should raise concerns about some effects on the Nigeria Crypto Ecosystem. This includes BICCoN stating that there need to be the appropriate actions taken to protect Nigeria’s blockchain landscape and reputation as ongoing matters with Binance play out. In the recent statement made by BICCoN, they stressed that it is important to seek a just and effective answer to the problems in order to rebuild mutual confidence and cooperation with all the partners from different parts of the world. Regulatory…

The developer wallet that’s alleged to belong to Doraemon dumped the entire DORAE token stock for 10,538 SOL and made 34x more money during a highly volatile market in less than six hours. Earlier on Wednesday, data from Lookonchain- a blockchain data analytics -exposed potential rug pull details about the Solana-based meme coin Doraemon. The rug pull was rumored to have caused an almost complete drop of 99% within hours of its happening in the price of DORAE. Unveiling the Fallout from the Alleged Incident: The DORAE Rug Pull Lookonchain reported on X that roughly 2.5 million DORAE were sold…

On X, Dennis Porter, Co-founder and CEO of the Satoshi Action Fund, said that Louisiana’s “Blockchain Basics Act,” or “Bitcoin Rights” bill, is a major step to addressing the threat of CBDCs. Louisiana Embraces Blockchain with Blockchain Basics Act Louisiana House Bill 488, the so-called ‘Bitcoin rights’ bill, became law without much publicity on June 19th. The ‘Blockchain Basics Act’ by Congressman Mark Wright provides legal rights to home digital asset mining, establishes the right to self-host digital assets, acknowledges Bitcoin payments, and bans CBDCs. “The states are creating a blueprint for federal policy. It won’t be long until we…

As of the latest update, the ZKSync token, ZK, shows some limited trading activity, with an increase of merely 0.5% in the last 24 hours. Hence, the changes that make ZKSync upgrade from a ZK rollup chain to an “elastic chain” imply a transition from a single ZK chain to a network of multiple ZK chains with a focus on integration and improved user experience. The v24 upgrade, which was initiated on June 7th, has a significant position in ZKSync’s 3.0 roadmap and is achieved by turning its native bridge into a token vault that promotes interoperability between more ZK…

Light Protocol and Helius Labs unveil ZK Compression on Solana, promising a paradigm shift in blockchain data storage with substantial cost reductions. Launched on June 21, ZK Compression utilizes zero-knowledge proofs to compress on-chain data, offering significant scalability enhancements and cost-efficiency gains. Exploring the Inner Workings of ZK Compression At its core, ZK Compression utilizes zero-knowledge proofs to efficiently compress and authenticate off-chain data within Solana’s Layer 1 network. Through sparse state trees and advanced hashing techniques, ZK Compression optimizes on-chain data, ensuring robust integrity and security. This approach enables developers to store critical data more efficiently, achieving significant cost…

A not-so-mysterious mystery that brewed on Twitter this week was concerning a Donald Trump-themed Solana meme coin. Recently, the trends on Crypto Twitter have been full of celebrities, revealing quite an enigmatic event with a former head of state and one of the most famous faces of crypto. The circus began on Monday with the month-old Donald Trump-themed Solana meme coin, DJT, which spiked due to rumors of Trump’s involvement in the project. Getting many messages explaining I didn’t actually address Trump—assuming (please, text me, Mr. President). To address potential rug pull or denial, reporting based on sourced information. After…

Trader extraordinaire Mark Cubin claims he didn’t send any emails from his account “after 3:30 pm” Pacific Time on June 22. Billionaire investor Mark Cuban says that following a $800,000 loss from his crypto wallet months earlier, he could not use his Gmail due to a scam call. He said on June 22 in a post on X: This frequently occurs when someone poses as a representative of a business, such as Google, to coerce users into disclosing account information or personal information. While the crypto community sent him supportive words, others questioned how many emails he would miss without…

During five months of waiting for the decision in the case of Binance’s motion to dismiss, the SEC strives to use the experience of the Ripple XRP case to strengthen its legal position against Binance, Binance. US, and former Chief Executive Officer Changpeng Zhao. Is this the morning that the SEC has been anticipating? Let me provide details about their masterstroke with the Ripple XRP case. Ripple Case: Significant Discovery as SEC Steps up Efforts against Binance Having adopted the Ripple class action into its case against Binance, the SEC has demonstrated the relevance of Ripple’s legal findings. After addressing…

According to BitMEX’s co-founder Arthur Hayes, Bitcoin and crypto markets will reach unprecedented heights due to the appalling condition of Japan’s banking system. Hayes said that Japanese banks, just like the U. S. banks in the month of March 2023 will need a huge amount of bailing out as their balance sheets are loaded with U. S. government bonds. He wrote: “Y’all know what that means for Bitcoin and crypto… which is why I thought it necessary to alert readers about another avenue of stealth money printing,” He noted that since the banking crisis of last year and the central…

Bitcoin price experienced a record low in June as Santimnet‘s Bitcoin social sentiment is also indicating a red alert after Bitcoin dropped its price below $65K. Data from the cryptocurrency intelligence platform Santiment show facing an “extended level of Fear, Uncertainty, and Doubt(FUD)” as Bitcoin trades around the $65K mark. “This extended level of FUD is rare, as traders continue to capitulate,” Santment stated in a 20 June X post. During the last 7 days, bitcoin prices went high to the $67,294 mark and experienced a low at $64,180, as per the data collected from CoinMarketCap. Santiment highlighted its Weighted…