Telegram mandates TON Connect for all crypto wallets, sparking backlash
Telegram, the popular messaging app, has recently made a significant change to its platform that has sparked concerns about decentralization and exclusivity. The change requires third-party crypto wallets to use TON Connect, limiting Mini Apps to the TON blockchain.
This move has caused quite a stir in the crypto community, with many questioning the implications of this decision. Telegram’s Mini Apps feature allows users to access various services and applications within the messaging app, making it a convenient and seamless experience. However, with the new requirement for third-party wallets to use TON Connect, it means that only those who have access to the TON blockchain will be able to use these Mini Apps.
This has raised concerns about decentralization, as it essentially creates a closed ecosystem within Telegram. Users who do not have access to the TON blockchain will be excluded from using these Mini Apps, limiting their options and potentially hindering the growth of other blockchain networks.
Furthermore, this move has also sparked concerns about exclusivity. By restricting Mini Apps to the TON blockchain, Telegram is essentially promoting its own blockchain and potentially giving it an unfair advantage over other networks. This could lead to a monopolization of the market and hinder the growth and development of other promising blockchain projects.
While Telegram has not explicitly stated the reasons behind this decision, it is speculated that it could be a strategic move to promote the adoption of the TON blockchain. However, this move has raised questions about the company’s commitment to decentralization and its impact on the wider crypto community.
Only time will tell how this decision will affect the crypto landscape and whether it will have any long-term consequences. In the meantime, many are closely watching Telegram’s next steps and how it will address the concerns raised by this move.
Bitcoin creator Satoshi Nakamoto may be wealthier than Bill Gates
New research has revealed that the mysterious creator of Bitcoin, Satoshi Nakamoto, may be worth over $108 billion in Bitcoin holdings. This staggering amount could potentially make Nakamoto even wealthier than Microsoft co-founder Bill Gates, who has an estimated net worth of $108 billion.
The research, conducted by onchain analysis firm Chainalysis, analyzed the movement of Bitcoin from its early days to present day. They found that the earliest mined blocks of Bitcoin, which are believed to be owned by Nakamoto, have never been spent or moved. This suggests that the creator of Bitcoin has been holding onto their coins since the very beginning.
Based on the current value of Bitcoin, which is hovering around $60,000 per coin, Nakamoto’s estimated holdings would be worth over $108 billion. This would put them in the top 20 richest people in the world, surpassing even tech mogul Elon Musk.
The identity of Satoshi Nakamoto has been a topic of speculation and mystery since the creation of Bitcoin in 2009. The name is believed to be a pseudonym for the person or group responsible for developing the world’s first decentralized cryptocurrency. Despite numerous attempts to uncover their true identity, Nakamoto has remained anonymous and has not been heard from since 2010.
The potential wealth of Nakamoto has sparked discussions about the impact it could have on the cryptocurrency market. Some believe that if Nakamoto were to suddenly sell their holdings, it could cause a significant drop in the value of Bitcoin. Others argue that the creator’s decision to hold onto their coins for so long is a testament to their belief in the long-term potential of Bitcoin.
Regardless of their intentions, the fact remains that Satoshi Nakamoto’s Bitcoin holdings are worth a staggering amount and could potentially make them one of the wealthiest individuals in the world. As the cryptocurrency market continues to grow and evolve, the mystery surrounding Nakamoto and their impact on the market will likely continue to fascinate and intrigue people for years to come.
4 reasons why Bitcoin remains bullish with BTC price above $98K
The cryptocurrency market has been on a rollercoaster ride this week, with Bitcoin experiencing a sharp drop in price before quickly bouncing back. After plummeting to around $90,000, the world’s most popular digital currency has now regained its footing and is trading at the $98,000 level. This recovery has sparked excitement among investors and analysts, who are now predicting that Bitcoin could soon reach new all-time highs.
According to data, the recent dip in Bitcoin’s price was caused by a large sell-off from long-term holders, who were likely taking profits after the cryptocurrency’s impressive rally in recent months. However, this sell-off was quickly absorbed by new buyers, leading to the price rebound and indicating strong demand for Bitcoin.
This demand is further supported by the increasing number of institutional investors entering the cryptocurrency market. Companies like Tesla, MicroStrategy, and Square have all invested significant amounts in Bitcoin, signaling a growing acceptance and adoption of the digital asset. This influx of institutional money is expected to continue, driving Bitcoin’s price even higher.
In addition, the upcoming launch of Bitcoin futures on the Chicago Mercantile Exchange (CME) is also expected to have a positive impact on the cryptocurrency’s price. This will provide more opportunities for institutional investors to get involved in the market, further increasing demand and potentially pushing Bitcoin to new all-time highs.
While there are still some concerns about potential regulatory crackdowns and volatility in the market, many experts remain bullish on Bitcoin’s long-term prospects. With its limited supply and increasing mainstream acceptance, Bitcoin is seen as a valuable asset for investors looking to diversify their portfolios and hedge against inflation.
In conclusion, while the recent dip in Bitcoin’s price may have caused some panic, the overall outlook for the cryptocurrency remains positive. With strong demand, increasing institutional interest, and upcoming developments, it’s likely that Bitcoin will continue its upward trajectory and reach new heights in the near future. So, buckle up and get ready for the ride!
Canadian regulator excludes crypto funds from reduced margin eligibility
The Canadian equities regulator has recently made a decision that could have a significant impact on the cryptocurrency market. In a move that has sparked controversy and concern among investors, the regulator has excluded crypto funds from reduced margin eligibility. This means that leveraged trading of cryptocurrencies will now be more expensive, as these funds will no longer receive the same margin benefits as traditional assets.
The decision was made due to several factors, including the volatility and liquidity risks associated with cryptocurrencies. As we have seen in recent years, the value of cryptocurrencies can fluctuate greatly, making them a risky investment. This volatility can also make it difficult for investors to accurately assess the value of these assets, which can lead to potential losses.
In addition, the regulator has also cited regulatory concerns as a reason for excluding crypto funds from reduced margin eligibility. With the cryptocurrency market still largely unregulated, there are concerns about potential fraud and market manipulation. By limiting the margin benefits for crypto funds, the regulator is taking a cautious approach to protect investors and maintain the integrity of the market.
This decision has sparked debate among investors and industry experts. While some argue that the exclusion of crypto funds from reduced margin eligibility is necessary to protect investors, others believe it could hinder the growth and adoption of cryptocurrencies. With leveraged trading now more expensive, it may become less attractive for investors to enter the market, potentially slowing down its growth.
It remains to be seen how this decision will impact the cryptocurrency market in Canada. However, it serves as a reminder of the challenges and uncertainties that come with investing in this emerging asset class. As always, it is important for investors to carefully consider the risks and do their own research before making any investment decisions.
CFTC fines EmpiresX founders $130M in crypto fraud case
A recent court ruling in the United States has brought to light the fraudulent activities of the Brazilian founders of EmpiresX, a cryptocurrency company. The court has ordered the founders to pay a hefty fine of over $130 million for their involvement in a deceptive crypto scheme that duped unsuspecting investors.
The founders, who have not been named, were found guilty of misleading investors by falsely claiming that their cryptocurrency platform was a legitimate and profitable investment opportunity. They used flashy marketing tactics and promised high returns to lure in investors, but in reality, the platform was nothing more than a scam.
The court’s decision to impose such a significant fine on the founders sends a strong message to those who engage in fraudulent activities in the cryptocurrency industry. It serves as a warning that the law will not tolerate any form of deception or manipulation in the crypto market.
This ruling also highlights the need for investors to exercise caution and do thorough research before investing in any cryptocurrency platform. With the rise of digital currencies, there has been an increase in fraudulent schemes, making it crucial for investors to be vigilant and only invest in reputable and regulated platforms.
The case of EmpiresX is just one of many instances where individuals have taken advantage of the hype surrounding cryptocurrencies to scam innocent investors. It is a reminder that the crypto market is still largely unregulated and investors must be cautious and do their due diligence before investing their hard-earned money.
In conclusion, the court’s decision to fine the Brazilian founders of EmpiresX over $130 million for their involvement in a fraudulent crypto scheme serves as a warning to others who may be tempted to engage in similar activities. It also highlights the importance of conducting thorough research and being cautious when investing in the cryptocurrency market. Let this be a lesson to all that the law will not tolerate any form of deception or manipulation in the ever-evolving world of digital currencies.
Jupiter DEX, ex-Malaysian prime minister shill memecoins in X hack
The world of cryptocurrency has been rocked by yet another series of hacks, this time targeting decentralized exchange aggregator Jupiter and a former Malaysian prime minister. These attacks have not only caused financial losses, but also raised concerns about the security of the entire cryptocurrency ecosystem.
Jupiter, a popular decentralized exchange aggregator, was the first target of the hackers. The platform, which allows users to trade on multiple decentralized exchanges at once, had its social media accounts and website compromised. The hackers used these channels to promote fake coins and scam users out of their hard-earned money.
But the attacks didn’t stop there. The former Malaysian prime minister, who has been a vocal supporter of cryptocurrency, also fell victim to the hackers. His social media accounts were hijacked and used to promote fraudulent coins, causing damage to his reputation and potentially causing financial harm to his followers.
These incidents have once again highlighted the vulnerability of the cryptocurrency industry to cyber attacks. Despite the efforts of developers and security experts, hackers continue to find ways to exploit weaknesses in the system. This not only puts individual users at risk, but also undermines the credibility of the entire industry.
In response to these attacks, Jupiter has assured its users that their funds are safe and that they are working to improve their security measures. The former Malaysian prime minister has also taken steps to secure his accounts and has warned his followers to be cautious of any investment opportunities promoted on his social media.
As the popularity and adoption of cryptocurrency continues to grow, it is crucial for the industry to prioritize security and take proactive measures to prevent such attacks. Users must also remain vigilant and do their due diligence before investing in any cryptocurrency or participating in any online activities related to it. Only by working together can we ensure a safer and more secure future for the world of cryptocurrency.
Bitcoin reserve may end up a ‘potent political weapon’ — Arthur Hayes
In the world of cryptocurrency, the idea of a national stockpile of Bitcoin or other digital assets may seem like a far-fetched concept. However, according to Arthur Hayes, the CEO of Maelstrom, this could potentially become a reality and have significant implications.
Hayes believes that if a government were to create a national stockpile of Bitcoin or other cryptocurrencies, it would essentially turn these digital assets into a powerful political weapon. This is because the government would have control over a large amount of a decentralized currency, giving them the ability to manipulate its value and potentially use it as leverage in international relations.
But why would a government want to create such a stockpile in the first place? One reason could be to hedge against economic instability or potential financial crises. By holding a significant amount of cryptocurrency, a government could potentially protect its economy from the volatility of traditional markets.
However, this idea also raises concerns about the decentralization and democratization of cryptocurrency. One of the main appeals of digital assets is their decentralized nature, allowing individuals to have control over their own finances without government interference. But if a government were to hold a large amount of cryptocurrency, it could potentially disrupt this balance and centralize power in the hands of a few.
Furthermore, the creation of a national stockpile of cryptocurrency could also have implications for the value and adoption of these digital assets. With a government holding a large amount of a particular cryptocurrency, it could potentially manipulate its value and create artificial demand, leading to a distorted market.
Overall, the concept of a national stockpile of cryptocurrency raises important questions about the role of governments in the world of decentralized finance. While it may provide some benefits, it also has the potential to disrupt the very principles that make cryptocurrency appealing in the first place. As the world of digital assets continues to evolve, it will be interesting to see how governments navigate this new landscape and what impact their involvement may have on the future of cryptocurrency.
71% of institutional traders have ‘no plans’ for crypto: JPMorgan survey
Institutional investors remain wary of crypto trading, according to a JPMorgan survey.