Day 4 of Kleiman v. Wright: Craig Wright’s Testimony Delayed

Craig Wright – the Australian computer scientist best known for his widely disputed claim to be Satoshi Nakamoto, the pseudonymous creator of Bitcoin – is now expected to testify in a Miami court on Monday. Wright was initially slated to testify Thursday, according to an earlier schedule drawn up for the jury by Judge Beth Bloom of the U.S. District Court for the Southern District of Florida. However, Wright’s defense team’s questioning of Ira Kleiman, the plaintiff in the case, went all day Thursday and is expected to spill over…

Square Saw $1.8 Billion in Bitcoin Revenue in Q3

Key Takeaways Square has published its quarterly earnings report, which includes details on its Bitcoin revenue and profits. The company saw $1.8 billion in Bitcoin revenue and $42 million in Bitcoin profits this quarter. Those numbers represent a decline in quarterly revenue, but an increase year over year revenue. Share this article Square has released its quarterly earnings report, which includes profits and revenue from Bitcoin transactions and sales. Square’s Quarterly Bitcoin Revenue Is Down Square says that it saw $1.8 billion in Bitcoin revenue during Q3 2021, an increase…

Mythical Games announces $150M raise as the company expands into NFTs

Mythical Games announced the conclusion of a $150 million fundraising round. The company conducted the raise at a $1.25 billion valuation on Thursday, which was led by global venture capital firm Andreessen Horowitz. Mythical said it plans to use this new infusion of capital to help integrate NFTs into games. Andreessen General Partner Arianna Simpson said in a statement: “Co-Founders John, Jamie, and Rudy have a wealth of experience in the gaming world, and have built a world-class team to support their vision. We’re thrilled to partner with them to…

Colombian exporter developing cryptocurrency to help transport long-horned beetles to Japan

As reported by Reuters Thursday morning, Tierra Viva (“Alive Earth”), a Colombian exporter of long-horned beetles based in Tunja, has been developing its own cryptocurrency to avoid high commission costs on international sales. According to the outlet, the Hercules, Neptunus, and elephant beetle species exported by Tierra Viva have a retail price of $300 a pair in Tokyo. The beetle species are popular among Japanese schoolchildren and collectors. Carmelo Campos, chief programmer of Tierra Viva, said the following in an interview with Reuters: It’s an alternative to be able to…

“PlugWalkJoe” indicted for $784k cryptocurrency theft scheme

Joseph O’Connor, known in some corners of the internet as PlugWalkJoe, was indicted on an array of charges relating to a May 2019 cryptocurrency exchange hack. During the attack, he is alleged to have absconded with digital assets valued at approximately $784,000. In the criminal scheme, authorities believe O’Connor utilized SIM swap attacks (an artifice of fraud where 2FA phone calls and text messages are rerouted to a device controlled by the scammer) on three separate executives at an undisclosed cryptocurrency company to take control of their employers systems. O’Connor…

Layer-2 and multi-chain DeFi platforms see record inflows as Ethereum fees soar

High transaction fees have been a persistent thorn in the side of investors and blockchain projects since at least 2014 when Ethereum Network co-creator Vitalik Buterin stated in reference to Bitcoin, “The ‘Internet of Money’ should not cost $0.05 per transaction. It’s kind of absurd.”  Fast forward to November 2021 and the simple act of approving a token so that it can be transacted on Uniswap can cost as much as $50 worth in Ether (ETH)  depending on the time of day. Average Ethereum gas cost. Source: Etherscan Even layer-2 solutions,…

Aave Teases Cross-Chain, Layer 2 Plans in V3 Proposal

Key Takeaways Aave has announced the next update to its DeFi lending protocol, V3, and the features that will accompany it. The upgrade will most notably include support for multiple blockchains and support for layer 2 networks. It will also include various improvements related to user experience, risk management, and the token listing process. Share this article Aave has published an update describing V3 of its protocol and the new features that will be included in the update. V3 Will Have Layer 2, Interoperability Features Aave’s latest post suggests that…

Governance Controversy Arises in MakerDAO Community

Key Takeaways MakerDAO’s founder, Rune Christensen, has made a controversial subproposal to remove a current Facilitator. He was met with one particularly critical response by someone in the MakerDAO governance forum, which he has responded to. The Facilitator in question, Sébastien Derivaux, seems to have received a great deal of support from the community. Share this article The founder of one of the first DeFi protocols, MakerDAO, which has over $18 billion in total value locked, launched a subproposal on October 30 to offboard the current Facilitator of the Real-World…

Spain’s Central Bank Requesting Financial Institutions to Outline Crypto Plans Until 2024: Report

Banco Santander, Spain’s largest bank, will be offering crypto ETFs, Santander’s Executive President Ana Botin said on Oct. 14 in a Bloomberg TV interview. “We have been quite slow in adopting that, because of compliance and regulatory and risk appetite,” Botin said. “But we are now getting into it.” When asked if Santander’s customers were asking to buy bitcoin, the executive said yes. Source link

Cointelegraph launches Crypto Biz newsletter

The cryptocurrency market has matured from a fringe technology experiment to a global asset class valued at over $2.7 trillion. It’s about time we start treating it as a business — and reporting on it as such.  Cointelegraph’s Business Beat has been busy over the past year covering the biggest developments in the blockchain and cryptocurrency industry. Capital raises, high-profile partnerships, mergers and acquisitions, institutional adoption and highly specialized investment funds have all headlined our business feed over the past year. To make business news more digestible, Cointelegraph has launched…