Home » Vitalik deems crypto better than gold; SBF hints at creating FTX-backed stablecoin

Vitalik deems crypto better than gold; SBF hints at creating FTX-backed stablecoin

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The biggest news in the Cryptoverse on October 27th included Vitalik Buterin asserting that crypto is better than gold, FTX planning to create a stablecoin, Bitcoin mining company Core Scientific on the brink of bankruptcy Some users pay as little as $0.08 in fees to settle over $500 million in transactions on the Bitcoin network.

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Buterin says crypto is a better bet than gold

Zach Weinersmith started an argument claiming that Gold is better. Bitcoin Because the former fulfills crypto’s claim to decentralized money.

In response, the co-founder of Ethereum Vitalik Buterin Given that gold is inconvenient to use for transactions and lacks a secure storage mechanism for multiple users, crypto is a better transaction.

World’s Largest Bitcoin Mining Company Core Scientific Near Bankruptcy

bitcoin mining company core scientific said it may soon file for bankruptcy due to rising and falling electricity prices Bitcoin The price made the business unprofitable.

With just 24 BTC and around $26.6 million in cash, the mining firm says it may not be able to sustain operations beyond the end of 2022 unless it successfully raises additional funding.

SBF Suggests FTX Might Create Its Own Stablecoin

CEO of FTX Sam Bankman-Fried Living with Big Whale, he hinted at plans to launch a stablecoin for crypto exchanges.

According to SBF, FTX is putting the creation on hold as it is working with a stablecoin issuer. However, we may see an FTX-backed stablecoin launch in the not too distant future.

Team Finance lost $14.5 million to smart contract bug exploit

token protection protocol team finance $14.7 million in attack after hackers exploited V2 to V3 migration feature vulnerability.

As a result, the protocol has suspended all trading activity until the bug is fixed. However, it assured users that any remaining funds would be safe and available once operations resumed.

$0.80 fee for Bitcoin transactions worth $500 million

About 24,530 BTC worth more than $500 million have been transferred Bitcoin We charged just $0.83 as a fee for executing the transaction within minutes.

In contrast, traditional payment networks like SWIFT charge about $15 million with a 3% exchange rate fee to execute $500 million transactions.

Ethereum Becomes 50th Largest Asset By Market Cap After Recent Price Moves

Ethereum’s recent move to $1,560 has pushed the second-largest crypto asset higher, making it the 50th most valuable asset in the world.

With a market capitalization of $190 billion, ethereum It has surpassed Cisco and Alibaba to take the lead over Toyota and Walt Disney with a market capitalization of $195 billion.

Messina’s CEO Willing To Bet His Porsche On BTC To Reach $6 Million Again

Bitcoin maximalist Jim Messina says he’s buying more bitcoin despite falling prices. He added that you can bet on

research highlights

A Deep Dive into Bitcoin’s Hashrate, Why It’s Rising, and Whether It’s Going to Rise Again

According to CryptoSlate’s analysis, Bitcoin Mining difficulty and hashrate have hit all-time highs since the beginning of the year, despite the falling Bitcoin price.

As early as January 21st, Bitcoin mining difficulty reached 26.64 trillion. By February 18, it surged to 27.97 trillion. However, on October 24th, the mining difficulty hit his 36.84 trillion, with a hashrate of 260 EH/s, the highest ever spike.

Bitcoin hash rate and difficulty

A possible explanation for the sustained surge is ethereum merge. After the merger, ETH miners flocked to the Bitcoin ecosystem, making it increasingly difficult to process transactions on the network.

News around Cryptoverse

Luxrare Offers Zero-Royalty Transactions

rare to see Said Instruct NFT creators to pay 25% of the protocol fee as royalties. For transaction rewards, 95% goes to the seller and the buyer gets his 5% cashback.

Huobi to delist HUSD stablecoin

Crypto exchange Huobi announced We plan to delist the native HUSD stablecoin. All his HUSD pending on cryptocurrency exchanges will be converted to USDT before being delisted on October 28th.

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Over the past 24 hours, Bitcoin (BTC) has fallen -0.51% to trade at $20,648, while Ethereum (ETH) has also risen +0.03% to trade at $1,563.

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