NewsBriefs - Sui Network experiences major outage as validators go offline

Nov 21, 11:26 AM The Block

Sui Network experiences major outage as validators go offline

Sui Network, a blockchain platform developed by Mysten Labs, is currently experiencing a significant outage. The network has stopped producing blocks for nearly two hours, resulting in a stalled blockchain. This outage has led to a drop in SUI token value by nearly 10% over the last 24 hours, with its price at approximately $3.42. The team is investigating the issue, and no comment has been made by Mysten Labs or the Sui Foundation.

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• Nov 21, 5:54 PM Cointelegraph

  BiT Global accuses Coinbase of delisting WBTC to favor its own cbBTC

  BiT Global alleges that Coinbase delisted Wrapped Bitcoin (WBTC) to push its own Bitcoin wrapper, cbBTC, thereby eliminating WBTC as a competitor. Coinbase, mentioning general review standards, announced that WBTC did not meet the criteria for continued listing and plans to suspend trading in December. In response, BiT Global criticized Coinbase for depriving investors of choice and directly competing against WBTC, which remains the most popular Bitcoin wrapper with a significant total value locked.

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• Nov 21, 11:26 AM The Block

  Sui Network experiences major outage as validators go offline

  Sui Network, a blockchain platform developed by Mysten Labs, is currently experiencing a significant outage. The network has stopped producing blocks for nearly two hours, resulting in a stalled blockchain. This outage has led to a drop in SUI token value by nearly 10% over the last 24 hours, with its price at approximately $3.42. The team is investigating the issue, and no comment has been made by Mysten Labs or the Sui Foundation.

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• Nov 20, 8:05 PM The Block

  Phantom crypto wallet climbs above WhatsApp and Instagram in free iPhone app rankings

  Phantom, a crypto wallet platform, has reached a record-high position in the iOS app store, ranking ninth among the top free iPhone apps and second among free utility apps. It has surpassed popular apps like WhatsApp and Instagram in the rankings. This growth marks a significant rise from its position at 377th just over a week ago. Phantom supports multiple blockchains including Solana, Ethereum, Bitcoin, Base, and Polygon.

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• Nov 20, 7:36 PM Cointelegraph

  MicroStrategy market cap poised to surpass Intel

  MicroStrategy has reached a market capitalization of over $100 billion and is set to exceed Intel's nearly $102 billion. The company's stock, America's most traded on November 20, has seen significant growth due to its aggressive Bitcoin acquisition strategy, including a plan to spend $42 billion on Bitcoins over three years. Recent political shifts in the US and bullish analyst projections for Bitcoin's future value also contribute to MicroStrategy's market performance.

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• Nov 20, 1:08 PM Hand-Picked

  Nasdaq-listed Hoth Therapeutics approves Bitcoin as treasury reserve asset

  Hoth Therapeutics, Inc., a biopharmaceutical company, announced its Board of Directors approved the purchase of up to $1 million in Bitcoin as a treasury reserve asset. The decision reflects the company's belief in Bitcoin's potential as an inflation-resistant store of value, in light of increasing acceptance and activity from institutional investors.

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• Nov 19, 11:29 PM Beincrypto

  Russia to prohibit crypto mining in occupied Ukraine territories

  Russian authorities will ban crypto mining in occupied Ukrainian territories starting December 2024, addressing electricity shortages exacerbated by mining activities. This restriction, intended to alleviate stress on local electricity grids, is part of broader regulatory changes impacting mining and cryptocurrency operations in Russia. The ban encompasses regions like Donetsk, Lugansk, Zaporizhia, and Kherson, and parallels similar seasonal mining suspensions in Siberia until 2031.

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• Nov 19, 6:31 PM Coindesk

  Bitcoin reaches new all-time high of $93,750 as spot ETF options launch

  Bitcoin hit a new all-time high of $93,750 as spot Bitcoin exchange-traded fund (ETF) options were launched on Nasdaq. These options have drawn significant attention, offering investors increased flexibility and the potential for high-volume exposure. Most of the trades were call options, indicating optimism for further price increases. Analysts highlighted that ETF options enhance market sophistication and attract institutional investors by offering greater flexibility.

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• Nov 19, 7:30 AM Coindesk

  Gemini launches operations in France ahead of EU's MiCA regulation implementation

  Gemini, a New York-based crypto exchange, has commenced operations in France, allowing users to deposit, trade, and store digital assets. This strategic move occurs just weeks before the EU's Markets in Crypto Assets (MiCA) regulations are set to be enforced, facilitating potential expansion within the EU. The company, registered under France's regulatory framework, aims to leverage upcoming MiCA rules to extend operations across the EU, enhancing accessibility for institutions and individuals to engage with digital assets.

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• Nov 18, 2:00 PM Coindesk

  Lido co-founders to challenge Sam Altman's World Network with new crypto identity platform Y

  Lido co-founders are set to launch a new crypto identity platform named Y to compete directly with Sam Altman's World Network. Unlike World, which utilizes biometric iris scans, Y will rely on user's online activity traces for authentication, offering a privacy-focused alternative. This new platform is highlighted in an internal document from Cyber Fund, aiming to use World Network's privacy issues and user recruitment controversies as leverage in gaining users. Y also plans to integrate the Ethereum Attestation Service for a secure verification process.

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• Nov 18, 1:29 PM The Block

  Ethereum-compatible Layer 1 Monad begins rolling out testnet

  Monad has started the phased rollout of its testnet, following the launch of Monad’s devnet that achieved 10,000 transactions per second. Designed with a revamped EVM architecture for improved transaction throughput, Monad offers up to 10,000 TPS and instant block finality. The network supports easy migration for Ethereum developers and utilizes a network token for transaction and execution costs. Monad Labs recently secured a $225 million funding, affirming strong investor support.

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• Nov 18, 1:18 PM The Block

  MARA to sell $700 million in convertible notes for Bitcoin acquisition and debt management

  MARA Holdings plans to issue $700 million in convertible senior notes to institutional buyers, maturing in 2030. The proceeds will be used to repurchase existing notes due 2026 and to purchase additional Bitcoin for various corporate needs, including potential strategic acquisitions and debt repayment.

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• Nov 18, 3:50 PM ACCESSWIRE

  Cosmos Health adopts Bitcoin and Ethereum as treasury reserve assets

  Cosmos Health Inc. has incorporated Bitcoin and Ethereum into its treasury reserve assets, expanding its investment strategy to include crypto. This decision aligns with the company's aim to diversify its balance sheet and capitalize on the growing global adoption of cryptocurrencies. Additionally, Cosmos Health is preparing to accept crypto payments, enhancing its customer service flexibility and maintaining its commitment to innovative investment approaches.

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• Nov 18, 6:28 AM Coindesk

  Metaplanet announces ¥1.75B bond sale to purchase more Bitcoin

  Tokyo-listed Metaplanet plans to issue one-year bonds valued at 1.75 billion yen ($11.3 million) to finance the purchase of additional bitcoin. The company aims to increase its bitcoin holdings, which currently stand at 1,018 BTC, as a hedge against local economic instability. Since April, Metaplanet has been actively buying bitcoin and employing options strategies to enhance its investments.

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• Nov 15, 2:30 PM Globe Newswire

  Nasdaq-listed Thumzup Media adopts Bitcoin as treasury reserve asset

  Thumzup Media Corporation, listed as TZUP on Nasdaq, has authorized the acquisition of up to $1 million in Bitcoin for its treasury reserves. This decision reflects the company's recognition of Bitcoin as a stable reserve asset, bolstered by the growing institutional support and its qualities of limited supply and resistance to inflation.

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• Nov 15, 9:11 AM Cointelegraph

  Korea's financial watchdog detects up to 600K KYC violations at Upbit during license renewal

  South Korea's Financial Intelligence Unit (FIU) has identified between 500,000 and 600,000 potential Know Your Customer (KYC) violations at the cryptocurrency exchange Upbit. During its license renewal process, the FIU discovered that Upbit may have allowed the use of blurred IDs for customer verification, compromising the rigorous KYC standards required for crypto exchanges in South Korea. The breach could lead to substantial fines and affect Upbit's business license renewal.

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