|All Time High:
|The price of #CORE today is $6,047 USD.
The lowest CORE price for this period was $0, the highest was $6,047, and the exact current price of one CORE crypto coin is $6,046.74297.
The all-time high CORE coin price was $19,546.
Use our custom price calculator to see the hypothetical price of CORE with market cap of BTC or other crypto coins.
|The code for cVault.finance crypto currency is #CORE.
cVault.finance is 3.4 years old.
|The current market capitalization for cVault.finance is $60,467,430.
cVault.finance is ranked #1071, by market cap (and other factors).
|The trading volume is small during the past 24 hours for #CORE.
Today's 24-hour trading volume across all exchanges for cVault.finance is $4,043.
|The circulating supply of CORE is 10,000 coins, which is 100% of the total coin supply.
A highlight of cVault.finance is it's amazingly small supply of coins, as this supports higher prices due to supply and demand in the market.
|Note that there are multiple coins that share the code #CORE, and you can view them on our CORE disambiguation page.
Options Smart Contract Review
CORE Options Hello from the cVault team. Today we’re announcing the public review phase of our core options smart contracts. The contracts written in cooperation with the CORE development teams and The Arcadia team. While we’re confident our code is functional and secure, we ask that those working in smart contract security review this release and submit their bug reports to us for consideration of a paid bug bounty. The following repository and all it’s contents are up for review: github.com The design of core-options is such that EVM L1s should be able to cheaply, quickly, and conveniently place margin calls and puts on blue chip cryptocurrencies trading on (initially) the Ethereum network using only on-chain interactions, with no central authority or point of failure. This initial pre-release of the core-options smart contracts includes limited assets for trade for the purpose of clarity in review.
coreDEX Black Paper
Introduction Derivative markets make up the majority of trading activity in traditional finance. Since their introduction in the late 1970s and widespread adoption in the 1980s and 1990s, derivatives have grown from nascent upstart to an over $16 trillion market. Derivative markets enable index tracking, leveraged positions, and the securitization of many non-liquid types of assets through ETFs. This model is strongly reflected by cryptocurrency tokenization. Similar to derivatives markets, tokenization allows for the option to speculate on non-liquid assets such as future network fees or present-day fees paid out as a function of volume. While tokenization has largely been standardized on the Ethereum network, we lack a comprehensive open standard for guaranteed liquidity markets for tokenized assets. Without a guarantee of liquidity, markets suffer from sudden loss of liquidity, and highly increased risk due to the volatility introduced with highly variable liquidity. In this paper we seek to share new developments in regards to different types of liquidity, coreDEX launch preparations, and a new staking mechanism for a new generation of tokenized assets.Spectrum of Liquidity The most dominant type of liquidity found in the cryptocurrency space, is free moving. Meaning that the capital provided for market making services can quickly be removed and used elsewhere. The increase in flexibility correlates with the amount of cap...
CORE is a non-inflationary cryptocurrency that is designed to execute profit-generating strategies autonomously with a completely decentralized approach. In existing autonomous strategy-executing platforms a team or single developer is solely responsible for determining how locked funds are used to generate ROI. This is hazardous to the health of the fund as it grows, as it creates flawed incentives, and invites mistakes to be made. CORE does away with this dynamic and instead opts for one with decentralized governance. CORE tokens holders will be able to provide strategy contracts and vote on what goes live and when, in order to decentralize autonomous strategy execution. 5% of all profits generated from these strategies are used to auto market-buy the CORE token.🏃♀️ Initial Distribution The CORE team is kickstarting the initial distribution with a liquidity event. Contribute ETH to the CORE Fair Launch smart contract to receive tokens, and the contributed ETH will be matched and added to the Uniswap liquidity pool. Note that once added, liquidity tokens can not be removed from the CORE Uniswap LP pools. This is by design. Read on to learn about why..🏦 Powered by Real Yield To encourage real value and TVL to flow into CORE, CORE smart contracts employ interchangeable strategies that farm the coins inside the pools. This gives a great incentive to anyone who wants to farm CORE with coins other than CORE/ETH LP...
More cVault.finance (#CORE) News
|Security Definition at the Core of Coinbase v SEC First Scuffle
Coinbase, a U.S based cryptocurrency exchange, and the U.S. Securities and Exchange Commission (SEC) had their first scuffle as New York's Judge Katherine Polk Failla weighted in on a motion to dismiss the case in which the regulator alleges the exchange was involved in facilitating the trade of unregistered securities. Judge Failla will decide on the subject in the coming weeks.
Coinbase and SEC Face at Court
What might become the most significant case to define the classification of cryptocurrencies as securities finished its first chapter without a clear winner. This Wednesday, Coinbase and the U.S. Securities and Exchange Commission (SEC) met for the first time in court to discuss if the case should be thrown based on the arguments presented by the exchange in a document filed in August.
The SEC charged Coinbase in June on the charges of operating as an unregistered national securities exchange, broker, and clearing agency.
During the hearing, both parties agreed before Judge Katherine Polk Failla that the tokens involved in the lawsuit were not securities by themselves. Nonetheless, the SEC sustains that the ecosystem behind them makes them securities, given there is a group of people working for these to have success. The commission declared that the tokens could not be separated from their ecosystem.
Patrick Costello, SEC assistant chief litigation counsel, stated:
When the value of the network or the ecosystem increases, so does the value of the token.
|Bitcoin Miner Core Scientific Set to Emerge From Bankruptcy
Core Scientific has received the go-ahead from bankruptcy court for its reorganization, paving the way for the bitcoin mining giant to relist its shares on Nasdaq.Core Scientific Set for a Major Turnaround
Core Scientific, Inc., a major bitcoin miner, is about to emerge from Chapter 11 bankruptcy. In a press release on their website, Core Scientific announced that the Southern District of Texas bankruptcy court has green-lighted its reorganization plans, setting the stage for the company to relist its shares on Nasdaq by the month's end.
The company's reorganization strategy involves full repayment of its existing debt, with current shareholders receiving approximately 60% of the new company's equity.
Speaking about the recent approval of their plan, Adam Sullivan, CEO of Core Scientific, emphasized that the company is set to emerge stronger by the end of the month. He continued:
With demand for Bitcoin and high-value compute continuing to rise, we look forward to creating value for our shareholders as we execute our growth plan, de-lever our balance sheet and deliver superior efficiency at scale.
The court's approval followed Core Scientific's successful closure of a $55 million equity rights offering earlier this month, one of the last steps in the miner's restructuring journey. At the height of the 2021 bull market, Core Scientific was the largest publicly traded bitcoin miner by computing power, representing about 10% of computing power on the network. However, the plumm...
|Core Scientific Secures Approval to Emerge and Re-list on Nasdaq by Janu...
Core Scientific, a provider of blockchain computing data centers and software solutions, announced that the United States Bankruptcy Court for the Southern District of Texas has confirmed the Chapter 11 plan of reorganization.
With the Bankruptcy Court's approval, Core Scientific is now set to emerge and re-list on the Nasdaq by the end of January 2024.
Under the terms of the plan, shareholders, as of the expected record date of January 23, 2024, will be granted shares of Core Scientific's new common stock and warrants, making up roughly 60% of the company's new equity.
This includes the exercise of warrants given to existing shareholders and the issuance of new shares through the equity rights offering.
If all warrants are exercised in cash and the proceeds are utilized to settle debts, the company's existing debt would be completely repaid, marking a reduction of approximately $1 billion from its debt balance before the plan, according to the official press release.
Commenting on the development, Adam Sullivan, Core Scientific's Chief Executive Officer, said,
'Today’s plan confirmation is a defining moment in our reorganization; we’re poised to emerge by the end of this month as an even stronger company, with a highly motivated team that is aligned for success. With demand for Bitcoin and high-value compute continuing to rise, we look forward to creating value for our shareholders as we execute our growth plan, de-lever our balance sheet, and ...
|Asset Manager Vaneck Pledges to Donate 5% of Spot Bitcoin ETF Profits to...
Asset management firm Vaneck has pledged to donate 5% of its spot bitcoin exchange-traded fund (ETF) profits to support Bitcoin Core developers for at least 10 years. The company is currently awaiting approval from the U.S. Securities and Exchange Commission (SEC) to launch its spot bitcoin ETF. The securities regulator is expected to approve multiple applications early next week.Vaneck to Donate 5% of Spot Bitcoin ETF Profits
Asset manager Vaneck pledged financial support for Bitcoin Core developers on Friday, ahead of the U.S. Securities and Exchange Commission (SEC)'s decision on its spot bitcoin exchange-traded fund (ETF) application. Vaneck is one of 11 companies vying to launch the first U.S. spot bitcoin ETFs.
'We're not Bitcoin tourists at Vaneck. We're in it for the long haul,' Vaneck wrote on social media platform X Friday. The asset manager added:
That's why we made an initial $10k donation and signed a pledge to donate 5% of our bitcoin ETF profits (if approved) to support Bitcoin Core devs for at least 10 years.
'Your tireless dedication to decentralization and innovation is the cornerstone of the Bitcoin ecosystem, and we're here to support it - more details to come,' Vaneck added.
The SEC is expected to make a decision on spot bitcoin ETF approvals early next week. In its year-end predictions, Vaneck said: 'We expect more than $2.4B will flow into newly approved U.S. spot bitcoin ETFs in Q1 2024 to keep the bitcoin price elevated.'
In March, Bitcoin mining com...
|VanEck Will Donate 5% Of Bitcoin ETF Profits To Core Developers
Bitcoin ETF applicant VanEck has pledged to donate 5% of its fund’s profits to Bitcoin Core developers, pending approval to launch by the U.S. Securities and Exchange Commission (SEC).
The commitment could serve as a major lifeline for developers of the first crypto network, who are known to suffer a dearth of funding or financial incentive for their work.
VanEck’s Bitcoin Promise
VanEck has been an active ETF and mutual fund manager since 1955, holding $76.4 billion in assets under management as of September 2023.
“We’re not Bitcoin tourists at VanEck. We’re in it for the long haul,” wrote VanEck to X on Friday, adding that its pledge has already included a $10,000 donation to developers.
“Your tireless dedication to decentralization and innovation is the cornerstone of the Bitcoin ecosystem, and we're here to support it.” the firm added.
VanEck’s donations will move through Brink, a non-profit that bridges donor money to Bitcoin code testers and maintainers.
Brink’s fellowship and grant partners include major crypto exchanges like BitMEX, Kraken, and Coinbase. The largest pledge to date is from #startsmall – a philanthropic initiative launched by Twitter co-founder Jack Dorsey – which is currently disbursing $5 million to devs over a five year period.
Unlike other networks, Bitcoin has no natural source of funding or protocol maintenance since its growth was never funded by an initial coin offering (ICO...
|EthereumPoW Shifts Gears: Core Team Disbands for Complete Autonomy
The EthereumPoW (ETHW) announced its decision to dissolve the organization after in-depth discussions and based on a consensus among the majority, thereby fulfilling the commitments made during the initial fork.
According to the official blog post, the entity said the decision aligns with its plans to transition to complete decentralization.
EthereumPoW Embraces Autonomy
The 'unanimous' agreement to dissolve stems from a thorough examination of ETHW's ability to function independently, detached from Core’s support. This involved a careful assessment of the technical and operational conditions for ETHW to operate autonomously.
The consensus includes the dissolution of the EthereumPoW (ETHW) Core development team to achieve full autonomy, upholding PoW as the underlying consensus for the chain and maintaining it over the long term. Lastly, embracing decentralized governance to become a deity-less public chain.
Simultaneously, the existing EthereumPoW servers are slated to be transitioned to OneDAO, a decentralized protocol on the Harmony network. This move is aimed at ensuring transitional maintenance until long-term ecological partners can be achieved.
The EthereumPoW blockchain underwent a hard fork, separating from the Ethereum mainnet just before the much-anticipated Ethereum Merge upgrade in September 2022, which paved the way for the network to transition from a proof-of-work (PoW) to a proof-of-stake (PoS) consensus mechanism, leading to a drastic 99% reduction in ...
|ETHW Core Team Dissolved Just Weeks After Pleading for Funds to Maintain...
The Ethereum Proof of Work (ETHW) core development organization has been dissolved to help the protocol achieve full autonomy. In late November, the ETHW team pleaded for $200,000 in funding to maintain servers and recruit part-time engineers. ETHW Core team's development approach has been criticized. Upholding PoW as the Chain's Consensus
On Dec. 18, the Ethereum Proof of Work (ETHW) core development organization was dissolved to help the protocol achieve full autonomy. A statement released by an ETHW core team member said the decision, which allows ETHW to operate independently without the Core’s support, followed 'in-depth discussions and [was] based on a majority consensus.'
Explaining the rationale behind the decision, the ETHW core team claimed that this has been its commitment since forking from the Ethereum blockchain in September 2022. Besides the dissolution, the core team also resolved to uphold proof of work 'as the underlying consensus for the chain' as well as maintaining it over the long term.
'The existing servers will be temporarily transferred to Onedao for transitional maintenance until long-term ecological partners are identified,' the core team added.
After emerging from The Merge, the team behind ETHW endorsed turning the protocol into 'an all-in-one ecosystem decentralized autonomous organization (DAO)' among other changes. Despite this and subsequent attempts to improve it, the protocol nonetheless began having trouble raising funds to keep the ...
|Bitcoin Core Dev Discusses 'Firing' All Miners With PoW Algo Change: Fei...
Over the last ten years, Luke Dashjr has emerged as a key player in the realm of Bitcoin development and the network's open-source software. His opposition to specific trends within the Bitcoin ecosystem has gained more attention lately. He has labeled Ordinal inscriptions and non-fungible tokens (NFTs) on the Bitcoin platform as detrimental to the protocol and akin to spam, which he believes has been curtailed since 2014. Just this week, he suggested that Antpool might be employing 'covert' ASIC Boost techniques. Subsequently, he informed individuals that the Bitcoin community has the power to fire all miners 'by changing to a different PoW algorithm.'Luke Dashjr Talks Ousting Miners and Covert ASIC Boost Use
In recent weeks, Luke Dashjr, a prominent Bitcoin Core contributor and the brain behind Bitcoin Knots, has been particularly vocal. He re-entered the spotlight when his operated pool, Ocean Mining pool, confirmed it was filtering specific transactions, including Ordinal inscriptions, BRC20 tokens, and coinjoin-related transfers. On Dec. 17, in a conversation about simply using a .sats domain on an X profile among Ordinals enthusiasts, Dashjr remarked, 'Hopefully enough of you scammers will be in jail by '26 so we never have to worry about you again.'
An individual, surprised by Dashjr's comment, asked him, 'Wow. Okay. I have never talked to you before nor done you any harm. What's your problem?' To this, Dashjr bluntly responded, 'Scamming in the name of Bitcoin literal...
|Ava Labs Unveils Seed Abstraction Feature in Core App
Ava Labs' Core app has announced going seedless to boost Web3 adoption without compromising self-custody and security. The team behind Avalanche blockchain said that it has enabled users to generate and manage keys through simple Web2 methods like Gmail and Apple logins, making it more accessible.
The key feature is Core's Seed Abstraction, which is universal and not restricted to specific blockchains or VMs. As such, users will be able to use Core-generated seed across various blockchains, from Bitcoin to EVMs, eliminating complexities of multiple contracts or cross-chain issues.
Ava Labs Introduces Core's Seed Abstraction
According to the official announcement shared with CryptoPotato, Core's Seed Abstraction stands out due to its seamless cross-chain functionality, distinguishing itself from alternatives like ERC-4337 (account abstraction).
Unlike ERC-4337, which confines wallet users to EVM chains and imposes restrictions based on contract deployment locations, Core surpasses these limitations. It allows users to transact across diverse environments, including Bitcoin, Avalanche C, X, and P-Chains, and any EVM, offering enhanced cross-chain capabilities.
Ava Labs said that Core's Seed Abstraction was designed to alleviate a significant issue related to seed phrases. The end goal is to enhance the wallet experience to be more intuitive and align with how most individuals typically navigate the internet. The company emphasized that this aspect of improving UX is crucial for...
|Core Scientific Plans To Exit Bankruptcy By Early January, New Filing Sh...
Bitcoin mining firm Core Scientific filed a disclosure statement for its third-amended bankruptcy recovery plan on Monday, which incorporates key terms from its Restructuring Term Sheet filed in late October.
The new filing features a concrete timeline for how the firm will gain support for the plan from key stakeholders and emerge from bankruptcy before January 15.
Final Stages of Bankruptcy
Per the Monday filing, the debtors plan to “move forward expeditiously” with gathering votes and confirming its plan to keep administrative costs to a minimum.
A hearing on the conditional approval of Core Scientific’s plan will occur on Tuesday. Holders of claims or interest will then have until December 13 to vote on the plan, with another hearing to confirm final approval of the disclosure statement on December 22.
After that, the plan is slated to go effective between January 2 and January 13, 2024.
“The [Restructuring Support Agreement] Parties have agreed to use reasonable efforts to emerge from chapter 11 on or before January 15, 2024,” read the disclosure statement.
Multiple stakeholders are involved in the voting process, including convertible noteholders, secured mining finance lenders, the committee of unsecured creditors, equity holders, and investment bank B. Riley – the largest holder of unsecured claims in the company.
Core Scientific received $100 million in equity financing from B. Riley in June of last year. After going bankrupt in De...
|Bankman-Fried's Lawyers Challenge Core of Fraud Case, Questioning Fiduci...
Lawyers for Sam Bankman-Fried are seeking to instruct the jury that no trust or fiduciary relationship existed between the crypto exchange and its customers, a key part of the prosecution's fraud case.Bankman-Fried’s Attorneys Question Trust Ties
In an addendum to earlier requests, Sam Bankman-Fried's attorneys argue that under English law, which governs FTX's terms of service, no trust relationship arose between FTX and users. 'The Terms of Service do not use the words 'trust,' 'trust property,' or 'beneficial interest,'' the filing states. It adds that any language about fiduciary duties expressly disclaims such a relationship.
The defense aims to counter the government's claim that Bankman-Fried 'engaged in a scheme to defraud customers' by misappropriating deposits. Prosecutors allege FTX customer funds were improperly diverted to Bankman-Fried's trading firm Alameda Research.
However, according to the defense, 'subjective intentions are irrelevant' in determining if a trust exists under English law. They contend it is based solely on interpreting the contractual terms objectively. Representations outside the contract also cannot establish a trust relationship retroactively.
“Briefly stated, a formal trust, called an express trust in England, is the legal relationship created when assets are placed by someone under one party’s control for the benefit of another or for a special purpose,” Bankman-Fried’s lawyers contend. The attorneys noted:
|Bitfinex's Role in Taming Crypto Market Volatility: Resilience at Its Co...
Understanding volatility in the crypto market
The world of cryptocurrencies is known for its volatility, with prices fluctuating wildly within short periods. For traders, the ability to navigate and even capitalize on this is crucial to success. Understanding volatility in the crypto market is the first step to mastering it. Volatility refers to the rapid and significant price movements that cryptocurrencies experience. These price fluctuations can be caused by various factors, such as market sentiment, regulatory changes, economic events, or even social media trends.
To become a successful crypto trader, one must develop resilience in the face of volatility. Resilience is the ability to adapt and recover quickly from market fluctuations. It involves strategies and tools that enable traders to mitigate risks and make informed decisions. This article will explore how Bitfinex, a leading crypto exchange, helps traders master volatility and gain an edge in the crypto market by leveraging its own resilience in the market.
A brief history of cryptocurrencies and their volatility
Cryptocurrencies emerged in the late 2000s as a decentralized form of digital currency. Bitcoin, the first cryptocurrency, was introduced by an anonymous person or group known as Satoshi Nakamoto. Since then, cryptocurrencies have gained popularity and have experienced both exponential growth and extreme volatility.
In the early years, cryptocurrencies were considered highly speculative assets, with prices...
|Vaneck Pledges 10% of Ethereum ETF Profits to Fuel ETH Core Development
On September 29, 2023, the asset management firm Vaneck unveiled an initiative to earmark 10% of its profits from its ethereum (ETH) exchange-traded fund (ETF) towards protocol development for at least ten years. This financial infusion will be given to the Protocol Guild, a consortium of over 150 core Ethereum developers, fueling their quest to further refine and grow the Ethereum protocol.A Decade-Long Commitment to Ethereum Development
Vaneck is set to contribute 10% of its ethereum futures ETF profits to the advancement of Ethereum, as revealed in a statement released on the social media platform X this past Friday. 'We intend to donate 10% of our EFUT ETF profits to Protocol Guild for at least 10 years,' the firm said. 'Thank you, Ethereum contributors, for nearly a decade of relentless building & ongoing stewardship of this common infrastructure.'
The Protocol Guild encompasses over 150 Ethereum core developers, with an onchain registry bearing testimony to its membership. This guild is steered by the vision to 'boost the incentives around stewarding the core protocol.' Vaneck accentuates that core developers have played pivotal roles in propelling crucial updates such as The Merge and Shanghai.
The firm underscored that should traditional finance (tradfi) reap benefits from the endeavors of Ethereum development, it's only fitting that Tradefi reciprocates by giving back. 'If tradfi stands to gain from the efforts of Ethereum's core contributors, it makes sense that we ...
|Bitmain Invests $53.9 Million in Core Scientific to Support Mining Opera...
Core Scientific, Inc., a prominent player in high-performance blockchain computing data centers and software solutions, has revealed that Bitmain, a global leader in manufacturing digital currency mining servers, will be making a significant investment of $53.9 million in it. This move further strengthens the longstanding relationship between the two companies.
Bitmain and Core Scientific have agreed to acquire new Bitcoin mining equipment and host a new hosting agreement. The move underscores Bitmain's ongoing dedication to the North American digital asset mining sector.
Bitmain Strengthens Strategic Partnership with Core Scientific
Max Hua, CEO of Bitmain, has expressed enthusiasm about strengthening their strategic partnership with Core Scientific, a trusted U.S.-based collaborator. He commended Core Scientific's professionalism, integrity, and commitment to the success of their hosting customers and their contribution to the growth of the Bitcoin Network.
According to the purchase agreement terms, Bitmain will provide Core Scientific with 27,000 Bitmain S19J XP 151 TH bitcoin mining servers. In return, Bitmain will receive $23.1 million in cash and $53.9 million in Core Scientific common stock.
The per-share value of the stock will be determined in line with a bankruptcy court-approved Chapter 11 reorganization plan, which is anticipated to receive approval in the fourth quarter of this year. The S19J XP operates at a high-efficiency level of 21.7 Joules per TH/s.
|Ethereum Core Devs Greenlight EIP-7514: Implications For ETH Price
Ethereum Core Developers have officially approved EIP-7514 for inclusion in the upcoming Dencun upgrade which is slated for late 2023. This Ethereum Improvement Proposal (EIP) primarily aims to decelerate the growth rate of ETH staking, thereby providing the Ethereum community additional time to craft an improved validator reward scheme.
The main modification brought by this EIP is setting the Max Epoch Churn Limit, the validator activation queue upper limit, to a constant value of 8. Previously, the churn limit was calculated by taking 'The total number of validators/65536,' which at present equates to about 12/epoch.
The decision followed an Ethereum Core Dev Meeting, as described in a tweet by Tim Beiko: 'Wrapped up another Ethereum #AllCoreDevs: we covered devnet updates, additions to Dencun, and had a full overview of Reth. EIP-7514 will be part of the Dencun upgrade! Expect the EIP and associated CL specs PR to be updated to reflect all of this in the coming days.'
Beiko's statement underscored the importance of this change and provided insights into the consensus among Core Developer teams. Dankrad Feist, a Researcher at the Ethereum Foundation, outlined the importance of the approval. Feist stated:
My reasoning on why I'm for EIP-7514. It is currently unclear if (especially liquid) staking will keep growing indefinitely. In the case that the withdrawal queue does not empty over the next few months, the lower churn limit will give the Ethereum community the time neede...
|Core Quickswap Members Launch 50x Leverage on Kava Chain
[PRESS RELEASE - Georgetown, Cayman Islands, August 30th, 2023]
Multiple core contributors of Quickswap, celebrated for their success on Polygon, have launched their next venture: Kinetix Finance on Kava Chain. Kava Chain is a Layer-1 Cosmos-Ethereum interoperability blockchain. The Kinetix Finance perpetual exchange is tailored for users eager to leverage trade without the limitations of traditional centralized exchanges.
Kinetix's innovative Perpetual Market allows users to leverage trade on the Kava Chain. The Perpetual Market meets the rising demand for decentralized trading solutions, offering users leveraged exposure to crypto assets like KAVA, axlETH, axlWBTC, ATOM, and USDt all while ensuring utmost transparency and security.
'The Perpetual Market is not just another trading platform — it is a reflection of Kinetix's dedication to providing decentralized solutions that empower our users. With this platform, we're offering a unique, secure, and efficient way to leverage trade on the Kava Chain,' said Kinetix team lead Alexi Atlas.
At the heart of Kinetix's Perpetual Market is the distinctive liquidity pool system, KLP. LPs can offer any of the initial five supported assets: KAVA, axlETH (ETH), axlBTC (BTC), ATOM, and USDT. In return for contributing these tokens, participants receive KLP, a special liquidity token representing the entire basket. This decentralized structure, combined with the protocol's AMM, facilitates leverage trading, allowing users to borrow ...
|Ethereum Core Devs Weigh Pros and Cons of Raising Validator Threshold Fr...
Ethereum's core developers are engaged in discussions about raising the validator threshold from 32 ETH to 2,048 ETH. This proposal, put forward by Michael Neuder, a researcher from the Ethereum Foundation, aims to address concerns related to decentralization, inflation, and the size of the validator set. Neuder acknowledges that the existing threshold promotes decentralization, but he also highlights the drawbacks of inflation and the substantial number of validators that it entails.Ethereum Developers Want to Raise the Validator Threshold
During the latest Ethereum core developer consensus meeting, a gathering of ETH software engineers and researchers, an intriguing notion emerged for elevating the validator threshold from 32 ether to 2,048 ether. As it stands, aspiring validators must possess roughly 32 ETH to commence the validation process, but this proposed adjustment would amplify the threshold by 64-fold.
The individual behind this idea is Michael Neuder, a researcher from the Ethereum Foundation, who presented his proposal titled 'Increase the Max_Effective_Balance.' In addition to this proposition, Neuder delved into the realm of auto-compounding validator rewards, stimulating further contemplation and dialogue among the attendees.
'Without a validator set contraction, single-slot finality is not feasible using the current designs,' Neuder's proposal details. 'Without single-slot finality, we believe that enshrined PBS is also not viable. Additionally, the current p...
|Marathon and Brink Join Forces to Raise $1 Million for Bitcoin Core Deve...
Bitcoin mining company Marathon Digital Holdings and Brink, a nonprofit striving to support open-source Bitcoin development, recently revealed their collaboration to generate up to $1 million in funding for Bitcoin Core developers. Marathon pledged to match all contributions toward this cause, totaling a maximum of $500,000 through 2023.Bitcoin Mining Firm Marathon Partners with Brink to Generate $1 Million for Bitcoin Core Development
The publicly-traded mining infrastructure corporation Marathon Digital Holdings (Nasdaq: MARA) announced its partnership with the 501(c)(3) nonprofit Brink to raise funds for Bitcoin Core developers. In a statement on Thursday, Marathon explained, 'These developers are volunteers, who often work pro bono or on a donation basis, to ensure the Bitcoin protocol functions.' The partnership was unveiled at the Bitcoin 2023 event in Miami.
Marathon declared its commitment to match all donations up to an aggregate sum of $500,000 through 2023 during the conference - potentially amassing $1 million in total donations (including third-party contributions). 'From May 18, 2023 to May 21, 2023, during the Bitcoin 2023 conference, Marathon will match all donations to Brink (up to a $500,000 maximum donation from Marathon) on a two-for-one basis. Following the conference, from May 22, 2023, to December 31, 2023, Marathon will match all donations on a one-for-one basis,' the company said.
Marathon's CEO Fred Thiel also did an interview at the Bitcoin 2023 eve...
|Coinbase Shares Wells Response, Challenges SEC's Change in Attitude Towa...
On April 27, Coinbase, the crypto exchange based in San Francisco, made public the disclosure of its response to the Wells notice it had received from the U.S. Securities and Exchange Commission (SEC) back in March. The company maintained that the regulatory body's enforcement actions were in direct contrast to the agency's previous approval of the firm's public listing via its S-1 filing. Coinbase asserted in its response to the SEC that it is the “innocent investors who stand to lose the most from the commission’s abrupt about-face.”Coinbase Responds to U.S. Securities Watchdog's Wells Notice
Coinbase's CEO, Brian Armstrong, presented his company's response to the U.S. securities regulator on Thursday, divulging their Wells response. In direct opposition to the SEC's enforcement actions, Coinbase maintains a firm disagreement, while the correspondence made it clear that the regulator should have been aware of this stance when Coinbase went public.
The animosity between the two entities was further highlighted in Coinbase's response, where the exchange explained that the SEC had neglected to provide clear guidelines for the regulator’s recent enforcement actions.
“If the commission had believed in April 2021 that Coinbase’s core businesses violated securities law, it would have been required by its own mandate to prevent the S-1 from becoming effective to protect the investing public,” the response says. “Instead, it allowed t...
|Core Inflation on Upward Trend, Further Rate Hikes Expected, ECB Execs S...
Amid underlying inflationary pressures, further interest rate increases may still be needed, members of the European Central Bank’s Governing Council have admitted. At the same time, the cycle with the highest hikes may soon be over, the officials indicated. End of Most Aggressive Rate Hikes in Sight Despite Inflation, but More to Come Before It’s Over
Two members of the Governing Council of the European Central Bank (ECB) have shared their assessments of the inflation outlook in the eurozone and expectations regarding the monetary authority’s next moves in that respect, Bloomberg reported.
The biggest part of the current cycle of interest-rate rises is over, although more may follow, according to Boris Vuj?i?. Speaking in his home country on Wednesday, the governor of the Croatian National Bank said that further hikes can be expected if core inflation, or long run inflation, remains above 4%.
Vuj?i? explained that while consumer-price gains have been easing, mainly due to base effects, underlying pressures, excluding volatile items like food and energy, remain high.
The Governing Council is the Eurosystem’s main decision-making body, which comprises the six members of ECB’s Executive Board plus the governors of the national central banks of the 20 countries that have adopted the common European currency.
During the same event in Croatia, Vujcic’s colleague at the Council, Boštjan Vasle, told participants that growth in prices of se...
|Core Scientific to Send $20M Worth of Mining Equipment to Settle Payment...
The United States Bankruptcy Court for the Southern District of Texas ordered Core Scientific to transfer approximately $20.8 million worth of mining equipment to the energy infrastructure firm - Priority Power.
The entities had a dispute over two mining facilities located in Texas that were supposed to supply Core Scientific with 1,000 megawatts of electricity.
The Judge's Decision
The judge involved in Core Scientific's bankruptcy case - David Jones - ordered the company to transfer more than $20 million of electrical equipment to Priority Power Management (PPM) and thus settle the quarrel between the two.
'All of the Debtors' interest, if any, in the equipment described in Annex A to this Order shall be transferred to PPM, on a 'free and clear' basis pursuant to section 363(f) of the Bankruptcy Code.
With respect to the portion of such equipment noted on Annex A to the Term Sheet as having been delivered and either installed or staged at the Cottonwood Facility or the Cedarvale Facility, PPM shall have the right, at PPM's sole cost and expense, to retrieve such equipment without further order of this Court,' the statement reads.
The energy negotiator previously maintained that Core Scientific owed it around $30 million for the provided services prior to the bankruptcy filing.
The cryptocurrency miner hired Priority Power as its 'exclusive energy manager and consultant' in the summer of 2021. Apart from dealing with electricity contracts, the fi...
|Another Bitcoin Core Maintainer Steps Down After 7 Years
Bitcoin developer Marco Falke announced that he has stepped down as a maintainer for Bitcoin Core on Tuesday.
There now remain just four maintainers of the protocol: Michael Ford, Hennadii Stepanov, Andrew Chow, and Gloria Zhao.
Falke was Bitcoin Core’s single largest contributor, having proposed over 2000 individual changes to Bitcoin’s codebase – aka “commits” – in his lifetime.
During three of his seven years as maintainer, Falke was supported and sponsored by the crypto exchange OKCoin and Web3 investment firm Paradigm.
“I remain passionate about open source and Bitcoin and I am positive about the future, however being a maintainer is no longer a good fit for me personally,” wrote Falke over Twitter. “I am happy about my achievements and recognize that they would not have been possible without my sponsors.”
As a maintainer, Falke’s job was to quality assurance test and approve new changes to Bitcoin’s code on GitHub.
Over the past two years, other Bitcoin development giants have moved away from their roles as maintainers, including John Newbery, Samuel Dobson, Jonas Schnelli, Peter Wuille and Wladimir J. van der Laan – the latter being Bitcoin Core’s former lead maintainer.
In Schneilli’s case, a combination of shifting interests and increasing legal risk for core devs motivated his departure in 2021. Indeed, Bitcoin developers are still under legal pre...
|Core Scientific Hands Over 27K Mining Rigs to NYDIG to Pay off a Debt
The once-prominent bitcoin miner Core Scientific inked an agreement with the New York Digital Investment Group (NYDIG) to hand over 27,403 of its mining machines and thus pay off an outstanding debt of $38.6 million.
The company filed for bankruptcy protection a few days before Christmas 2022.
Looking for a Way Out
According to a filing with the bankruptcy court for the southern district of Texas, Core Scientific agreed to transfer over 27,000 of its mining rigs (around 18% of its total equipment) to NYDIG to eliminate its debt. The deal needs to be approved by the relevant magistrates before becoming official.
Core Scientific claimed those machines are no longer vital for its business, highlighting the importance of paying off the loan.
It borrowed $77.5 million from the investment management firm in 2020 to expand its business. However, it stopped settling the debt towards the end of 2022 due to shrinking revenue caused by the bear market.
The miner's net losses climbed to $1.7 billion as of Q3 2022. It sold nearly 8,000 BTC (almost its entire stash) to stay afloat, but that could not halt the freefall.
The low price of the primary cryptocurrency (compared to the 2021 bull run) and the rising energy costs pushed Core Scientific towards filing for Chapter 11 bankruptcy protection at the end of December.
Its shares plunged to $0.05 upon announcing the news. However, the improving condition of the cryptocurrency market at the start of 2023 has c...
|BTC Miner Core Scientific Raises $500M From BlackRock, Ibex Investors (R...
The US-based bitcoin miner - Core Scientific - reportedly secured a $500 million fundraiser led by leading finance players, such as BlackRock, Apollo Capital, Kensico Capital, Ibex Investors, and others.
The company filed for bankruptcy protection at the end of last year but continued mining BTC to repay debtholders.
Traditional Finance Firms Flocking to Help
According to a court filing seen by Bloomberg, BlackRock and several other high-profile investors lent approximately $500 million to Core Scientific by purchasing its secured convertible notes. Ibex Investors was the largest contributor to the financing, lending nearly $100 million.
BlackRock loaned $38 million through note purchases, while Apollo Capital Management bought $22.6 million and $11 million in April and August, respectively.
Both asset managers gave away $23 million in total to Core Scientific's debtor-in-possession loan so it could continue mining bitcoin despite its problems.
The prolonged bear market and the plummeting price of the primary digital asset significantly harmed the crypto miner, which filed for Chapter 11 bankruptcy protection a few days before Christmas. Despite that, the entity saw the price of its shares rise in the following weeks. Currently, CORZQ trades at around $0.11, compared to the $0.05 marked nearly a month ago.
However, its market capitalization of around $41 million stands far from the $4.3 billion reached at the beginning of 2022 (upon getting listed on Nasdaq).
|After Losing Coins, Bitcoin Core Dev Starts to Doubt Self-Custody
Bitcoin Core developer Luke Dashjr is having doubts about the safety of Bitcoin’s existing storage solutions after his personal wallet was drained of over $4 million in coins last month.
The programmer suggested that his practice for storing his coins was well in excess of “standard practices,” and yet he was still successfully robbed.
Is Bitcoin Safe?
On Monday, Dashjr responded to a fellow Bitcoiner on Twitter who asked how others would spend their money if they woke up one day to $30 million in their bank account.
Some of Bitcoin’s greatest devotees – including MicroStrategy’s executive chairman Michael Saylor – might champion a 100% Bitcoin allocation. However, Dashjr advocated a (relatively) modest approach: “Maybe 1000 BTC or so, if I could find a way to keep it safe,” he replied, suggesting real estate as a potentially safer alternative.
On December 31st, Dashjr lost his entire stash of over 200 BTC to a hacker who, according to the developer, compromised his PGP (pretty good privacy) key. A PGP key is an encryption program providing cryptographic privacy and authentication for sensitive files – such as a Bitcoin private key.
A private key is a digital signature required to send a Bitcoin transaction from its associated wallet. Most experts recommend keeping one’s personal keys in “cold storage” – disconnected from the internet entirely – as a f...
|Core Scientific Mined Over 1,400 BTC in December Despite Bankruptcy Fili...
One of the leading bitcoin mining companies - Core Scientific - mined 1,356 BTC in November and 1,435 BTC in December. It also boosted its self-mining hashrate from 15.4 EH/s to 15.7 EH/s.
The positive performance comes even though the company filed for Chapter 11 bankruptcy protection at the end of December last year.
Over 1.4K BTC Mined
The US-based firm produced 1,356 and 1,435 self-mined BTC in November and December, respectively, and 795 and 931 bitcoin for colocation customers, respectively.
It operated around 243,000 and 234,000 ASIC servers, bringing its total hashrate to 24.4 EH/s in November and 23.7 EH/s in December. On the other hand, its self-mining computing power for December was 15.7 EH/s, compared to 15.4 EH/s in the prior month.
Core Scientific had to shut down several of its data center operators during 2022's last two months. Its main facilities remain distributed in Texas, Georgia, Kentucky, North Caroline, and North Dakota.
The numerous closures in November and December represented 5,828 and 17,179 megawatt hours, respectively. The entity further stated that it has collaborated with utility companies to ensure power grid stability.
From Entering Nasdaq to Bankruptcy Filing
The company had its glory days during the bull run in 2021. Back then, it displayed intentions to go public through a merger deal with Power & Digital Infrastructure Acquisition Corp. The finalization of the agreement at the beginning of 2022 boosted Core Scientific's va...
|Core Scientific to Shut Down 37,000 Bitcoin Mining Rigs Belonging to Ban...
Core Scientific plans to shut down 37,000 bitcoin mining rigs belonging to now-defunct crypto lender Celsius, according to an agreement between the two bankrupt firms. Celsius owes Core Scientific approximately $7.8 million for energy and hosting costs, as the crypto lender has been unable to make regular payments as outlined in the hosting contract.Celsius Owes Core Scientific $7.8 Million for Energy and Hosting Costs
Lawyers representing bankrupt bitcoin mining operation Core Scientific have told the court that crypto lender Celsius has not made payments on its mining machine hosting costs since July. The story was first reported by Bloomberg, and Celsius reportedly owes approximately $7.8 million for costs associated with the machines.
Attorneys representing Core Scientific state that shutting down the bitcoin mining devices would save the firm a substantial amount of funds, and the company could potentially make $2 million per month if it rents out the hosting seats to another mining operation.
Core Scientific was one of the largest bitcoin miners in the industry, and records from Nov. 7, 2022, show that 41% of the company's servers are for customers paying for hosting services. The company filed for Chapter 11 bankruptcy protection on Dec. 21, 2022, but it noted that the firm's machines will continue to operate in order to pay down debt.
Chris Koenig, a lawyer for Celsius, has stated that the crypto lender has agreed to shut down the 37,000 bitcoin mining rigs and end t...
|Bitcoin Miner Core Scientific Plans to Shut Down 37,000 Celsius Rigs
Troubled Bitcoin miner Core Scientific will shut down more than 37,000 crypto mining rigs belonging to bankrupt crypto lender Celsius Network as both firms finally reach an agreement in court.
Core Scientific, which hosts rigs for Celsius, filed for Chapter 11 bankruptcy in December and had partially blamed the lender for its financial troubles. Both companies have a hosting deal in which the mining firm transfers some energy costs to Celsius.
The Legal Fight
The two parties have been in a legal battle over the contract as Core claims that Celsius has not been paying for these services since filing for Chapter 11 bankruptcy in July. In contrast, the lender argues that the miner supplied it with less power than required under their contract agreement.
Core had requested a court hearing on Jan 3, saying its contract with Celsius made it lose more than $28,000 daily.
'We're not seeking to make a dollar off of Core after today. Celsius has agreed to let Core power down the rigs and both sides are close to finalizing a deal to end their hosting relationship,' Chris Koenig, a lawyer for Celsius, said in a bankruptcy hearing on Tuesday.
Celsius Owes Core Over $7.8M
According to court filings, Celsius Network, Core's biggest client, owes the miner approximately $7.8 million for energy costs tied to the rigs through November. This would mean that shutting down Celsius rigs could save Core thousands of dollars daily and generate more revenue if the miner gives Celsius' space to another...
|Dogecoin Foundation Introduces a New Core Devlopment Fund
The Dogecoin Foundation - a nonprofit organization that supports the development of the first-ever memecoin - announced a new 5,000,000 DOGE development fund. The capital will be distributed to developers who contribute to the advancement of the token's ecosystem.
The entity also revealed that Marshall Hayner (one of the fund's custodians) joined the Dogecoin Foundation Board of Directors.
Stimulus for Developers
The organization vowed to move five million DOGE (worth around $360,000 at the moment) to a 'segregated multi-signature wallet' and use the sum to reward core developers for promoting and growing the Dogecoin ecosystem:
'The DOGE held in this wallet will disburse rewards to developers of Dogecoin Core for work on all contributions, no matter how big or small.'
Members of the Dogecoin Foundation will run the wallet, while the following five custodians will ensure its security: chromatic (Dogecoin Core developer), Marshall Hayner, Patrick Lodder, Michi Lumin, and Ross Nicoll.
The fund will distribute 500,000 DOGE to developers after each minor or major advancement of Dogecoin Core, but the reward's size will depend on each contributor's actions. It will be entirely transparent, announcing every distribution across social media platforms.
In addition to his role as a custodian, the Dogecoin Foundation added Marshal Hayner to its Board of Directors.
'Marshall brings executive and technical leadership experience to the Dogecoin Foundation and ...
|Bitcoin Core Developer Loses $3.5M in BTC in a Supposed Exploit
Veteran Bitcoin core dev Luke Dashjr took to Twitter on January 1st to reveal that his PGP key was compromised in a hack that resulted in the loss of a significant amount of BTC. Dashjr added that he was unaware of how this happened.
According to CZ, the dev lost over 200 BTC, which is approximately worth $3.5 million at today's prices.
The developer's thread on the entire event revealed that the hacker used CoinJoin, a tool that enhances privacy by anonymizing Bitcoin transactions to obfuscate the funds' movement. Upon discovering the theft, Dashjr tried to contact the FBI.
Dashjr said he has 'no idea how' the attackers gained access to his PGP (Pretty Good Privacy) key. A PGP key is an encryption program that offers cryptographic privacy and authentication.
The theft comes a little over a month after the developer revealed that his server was accessed by an unknown person and confirmed the presence of new malware/backdoors on the system. Upon further investigation, Dashjr then found that it was specifically created to compromise his server instead of being a bog standard trojan.
A few community members were quick to point out a potential connection between the event leading up to the hack.
Binance CEO CZ extended his support for Dashjr and promised to take necessary actions whilst monitoring the movement of funds in question.
'Sorry to see you lose so much. Informed our security team to monitor. If it comes our way, we will freeze it. If there is anything else we ...