Its owner acquired the tokens during Ethereum’s ICO in 2015, when each ETH was worth only 31 cents each.

Its owner acquired the tokens during Ethereum’s ICO in 2015, when each ETH was worth only 31 cents each.
During an interview, Michael Saylor discussed how crypto networks like Bitcoin can promote security and combat digital trust issues.
A total of 517,000 token votes favored the proposal, with none opposing it.
The attacker took advantage of the lack of slippage control of liquidity conversions to steal the funds.
FTX reboot is in the works, Multichain issues spark uncertainty and Sam Altman’s crypto project Worldcoin raises millions of dollars.
Crypto exchange Binance suspended deposits for 10 bridged tokens following days of uncertainty surrounding the Multichain protocol. Transactions on the cross-chain protocol have been delayed over multiple bridges in the past few days, with little information from Multichain’s team about the ongoing issues. In a tweet from May 24, Multichain said that some cross-chain routes were unavailable “due to force majeure,” noting that the time for service restoration was unclear. Binance was not the only company to take steps amid the unexplained downtime — the Fantom Foundation removed 449,740 MULTI ($2.4 million) from liquidity on SushiSwap. The MULTI token plunged during the week. On Twitter, rumors circulated that Multichain’s team had been arrested by the Chinese police, with $1.5 billion of smart contract funds under authorities’ control.
Bankrupt crypto exchange FTX’s revival plans could soon become reality. According to court filing documents, FTX’s new management had a series of meetings with creditors and debtors in the past month, reviewing plans for restarting the exchange and finalizing the material required for its rebooting as FTX 2.0. The documents also suggest FTX could soon enter into a bidding process. Previous reports pointed out that a reboot could come as early as 2024, as the exchange has already recovered over $7 billion in assets.
The bear market didn’t stop Worldcoin from raising $115 million this week in a Series C round led by Blockchain Capital. Funds will be used to support its decentralized World ID and recently released gas-free crypto wallet, World App. The project was co-founded by OpenAI CEO Sam Altman and built by Tools for Humanity developers to address issues emerging from the exponential complexity of artificial intelligence, such as proving personhood. Worldcoin’s token, WLD, is not available in the United States and some other countries.
Crypto consortium Fahrenheit won the bidding war for insolvent crypto lender Celsius Network. The bid incorporates Celsius assets previously valued at nearly $2 billion, including institutional loan portfolio, staked cryptocurrencies, mining unit, alternative assets, and over $450 million in liquid cryptocurrency. Behind the consortium are the venture capital firm Arrington Capital and crypto miner US Bitcoin Corp. While Celsius and its creditors have accepted the bid, regulatory approval is still required to complete the acquisition. Celsius filed for bankruptcy protection in July 2022, contributing to a prolonged “crypto winter” in the industry.
Earlier this week, the crypto community celebrated the 13th anniversary of the first Bitcoin transaction when developer Laszlo Hanyecz made the first documented purchase of a good with BTC. The exchange involved 10,000 BTC — worth $41 at the time — and two pizzas from a local restaurant in Florida. The milestone turned into an annual celebration for the crypto space, with community members reminiscing on how far the industry has come since the transaction. Over a decade on, the pioneer cryptocurrency network faces a new wave of disruption thanks to the advent of Ordinals, highlighting the need for developers and capital to build layer-2 solutions.
From time to time, rumors surface that Grand Theft Auto 6 will integrate cryptocurrency, fueling expectations that the franchise may make its way to Web3.
This week’s Crypto Biz explores Hotbit’s closure, Hong Kong’s licensing of crypto firms, Bitstamp’s acquisition by Ripple and Ledger’s branding crisis.
So far, a total of 1.7 million verified members of the Stargate community have voted in favor of the proposal.
Efforts are underway to recover compromised assets and enhance security measures as users express concerns on social media.
Bitcoin (BTC) held its most recent gains into May 27 as traders called for a change in “bearish” market sentiment.
BTC/USD 1-hour candle chart on Bitstamp. Source: TradingViewData from Cointelegraph Markets Pro and TradingView followed BTC/USD as it entered the weekend at around $26,700.
The week’s macroeconomic data from the United States had ended with a surprise, as a new Personal Consumption Expenditures (PCE) index print showed the economy weathering tighter financial conditions much better than expected.
Markets then began to price in a June interest rate hike from the Federal Reserve, which should form a headwind for risk assets but failed to dampen a BTC price rebound.
Despite the price comeback, however, the mood remained overly cautious for some.
On May 15, the chosen projects commenced the 12-week program after being granted seed funding of $30,000.
DeFi saw another multimillion-dollar rug pull this past week, and the Multichain saga continues to spiral out of control.
The Neuralink device is designed to be surgically implanted and, according to CEO Elon Musk, will eventually be marked to the general public.
Bitcoin (BTC) made snap gains at the May 26 Wall Street open as United States macroeconomic data delivered a nasty surprise.
BTC/USD 1-hour candle chart on Bitstamp. Source: TradingViewData from Cointelegraph Markets Pro and TradingView showed BTC/USD nearing $27,000 on Bitstamp.
The pair rose unexpectedly after the day’s Personal Consumption Expenditures (PCE) data showed its first rises since October 2022.
Such a reading should present a headwind for risk assets, including crypto, as it implies that inflation remains persistent and that more financial tightening may be required to tame it.
“This is a major setback to the Fed’s fight against inflation,” financial commentary resource The Kobeissi Letter wrote in part of a response.
The ETH balance decline began in September 2022, which saw a significant spike in November-December 2022 post-FTX downfall.
Bitcoin bulls are sitting on their hands but need to combat short-term sellers rapidly losing profitability, Glassnode warns.
News of HK legalizing crypto exchanges censored by state media after just two days, meanwhile, Multichain token plunges after police arrest rumors.
News of HK legalizing crypto exchanges censored by state media after just two days, meanwhile, Multichain token plunges after police arrest rumors.
The founder of Digital Bitcoin Art and Assets (DIBA) believes smart contracts on Bitcoin could solve the myriad problems created by Ordinals.