Everything web3, crypto, defi, degen
In brief Balancer, a multi-chain automated market maker, suffered a major exploit that has resulted in an estimated $128 million in losses. Liquidity pools across Ethereum, Arbitrum, Base, and other chains have been affected by the attack. Berachain has halted its blockchain and is preparing for a hard fork to recover the lost funds. Crypto…
In brief Bitcoin’s pseudonymous creator, Satoshi Nakamoto, disappeared in 2011. SharpLink Gaming co-CEO Joseph Chalom thinks Nakamoto will return as Bitcoin faces a quantum computing threat. Nakamoto is linked to nearly 1.1 million Bitcoin, valued at over $120 billion. Bitcoin’s elusive, pseudonymous creator Satoshi Nakamoto has remained in the shadows since his last message in…
In brief Ethereum transformed the blockchain industry by enabling smart contracts, DAOs, NFTs, and decentralized apps. From its 2015 launch to The Merge in 2022, Ethereum has driven innovation and faced growing pains. Ethereum powers DeFi and NFTs, but still battles high fees, scalability limits, and fierce competition. Ethereum, the second-biggest cryptocurrency after Bitcoin, is…
In brief Quantum computers threaten blockchain security by cracking private keys with Shor’s algorithm. Chains using EdDSA, like Solana and Sui, are easier to upgrade for quantum resistance. Older chains like Bitcoin face steep risks and costly upgrades, or risk leaving assets exposed. Quantum computing could one day break the cryptographic foundations that secure trillions…
In brief Ethereum celebrated its 10th anniversary on Wednesday, persevering through a decade of existential threats and evolution. Over the next 10 years, advocates believe the network will complete a spree of upgrades, improve layer-2 interoperability, and become the “settlement layer for everything.” Consensys pushed back on concerns that quantum computing could pose an existential…
In brief The White House proposed Congress consider drafting legislation that would force U.S. residents and companies to report foreign crypto accounts on their taxes. Not doing so could disadvantage U.S.-based crypto companies, the Trump administration said in a highly anticipated crypto report published Wednesday. The 168-page report also included recommendations related to crypto banking,…
The Ethereum foundation is planning a hard fork at block 2463000, expected to be reached on Tuesday October 18th 2016 PDT. The fork introduces changes to help protect against the recent DOS attacks on the network. The fork is expected to go very smoothly with the DOS-protected fork quickly becoming the dominant chain while the…
Last week the Ethereum hard fork went smoothly with the chain reimbursing DAO investors becoming dominant very quickly. As stated by email and on our blog (http://blog.kraken.com/post/147619017767), ETH balances on Kraken after the fork are tokens of this dominant chain. However, the competing chain that does not reimburse DAO investors remains viable with a significant…
The Ethereum community has elected to do a hard fork in order to resolve the DAO exploit. The MainNet block on which the hard fork will occur is set at 1920000, which should be reached on July 20 or 21 depending on your time zone. In an email statement to clients last week about the hard…
