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ForkLog 15 01.04.2024

Forbes Labels XRPL and 19 Other Blockchains as ‘Zombie Networks’

Forbes magazine has published an article criticizing 20 different blockchains for their perceived uselessness, including Ripple’s XRPL. The Unnecessary XRPL The article’s authors described Ripple’s network as inefficient and the XRP token as “purely speculative,” questioning its market capitalization. “To fund their ambitious project, Ripple’s executives created 100 billion XRP and sold them for $1.4 […]

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ForkLog 10 01.04.2024

Hacker Labels $11 Million Prisma Breach as ‘White Hat’ but Funds Remain Unreturned

The liquid staking platform Prisma Finance has acknowledged the loss of 3257 ETH (approximately $11 million) due to an exploit on March 28. The hacker has engaged in discussions with the team regarding the return of the funds. In collaboration with @PrismaRisk and @wavey0x, we are publishing a comprehensive post-mortem report on yesterday’s event. https://t.co/DljZSs3ssK […]

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ForkLog 17 01.04.2024

Polygon CEO Questions the Necessity of L3 Networks for Ethereum

Third-level networks are unnecessary for scaling Ethereum and pose a threat to the security of the ecosystem’s main blockchain, according to Polygon Labs CEO Marc Boiron. I’ll say the quiet part out loud: L3s exist only to take value away from Ethereum and onto the L2s on which the L3s are built. *You do not […]

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ForkLog 37 29.03.2024

Crypto Industry Faces $336 Million Loss from Hacks and Scams

The cryptocurrency industry suffered losses of approximately $336.3 million due to hacking and fraud in the first three months of 2024, according to an Immunefi report covering 61 incidents. Damage from scams and hacks in Q1. Data: Immunefi. The number of attacks decreased by 17.6% compared to the same period in 2023, with losses also […]

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ForkLog 32 29.03.2024

How Will FATF’s Methodology for Crypto Companies Change?

FATF has released a draft version of its new Mutual Evaluation Methodology. Experts will focus on the main risks and operational context of VASPs in each specific country. FATF recommendations are not legally binding, but non-compliance can harm the reputation of financial institutions in a country. FATF has not yet announced plans to include Russia […]

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ForkLog 13 29.03.2024

Community Deems Sam Bankman-Fried’s Sentence ‘Too Lenient’

On March 28th, former CEO of the collapsed FTX, Sam Bankman-Fried (SBF), was sentenced to 25 years in prison. However, the crypto community viewed even this term as lenient. Dan Held, General Partner at Asymmetric, remarked that the sentence was “not nearly long enough given his [SBF’s] actions and the actual damage caused.” Breaking: SBF […]

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ForkLog 16 29.03.2024

Bitcoin ATMs Experience Growth Despite Spot ETFs

The pace of Bitcoin ATM installations is expected to accelerate post-halving, when FOMO traditionally peaks in the market. This view was expressed by Bitcoin Depot CEO Brandon Mintz in an interview with Cointelegraph. In 2023, the number of crypto ATMs declined for the first time in a decade, dropping by 11.4%. This was attributed to […]

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ForkLog 2 27.03.2024

Wall Street’s Financial Influence on Bitcoin Mining Examined

Funding of public companies has strengthened their role in mining digital gold. The decentralization of the Bitcoin blockchain is under threat. Collaboration and innovation, along with geographical diversification, will help uphold the network’s principles. Institutional funding of public companies has disadvantaged individual and small miners and may have long-term implications for network dynamics, according to […]

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ForkLog 18 27.03.2024

Binance Faces Regulatory and International Challenges

The year 2023 marked only the beginning of Binance’s legal entanglements with authorities across various countries. In recent months, several regulators and governments have raised concerns about the cryptocurrency exchange. The Nigerian Episode In late February, the Financial Times reported the detention of two top executives of the company in Nigeria — Nadim Anjarwalla and […]

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ForkLog 9 27.03.2024

Bitcoin Holders Increase Sales Amid New Price Peaks

As Bitcoin reached a new ATH above $73,100, daily realized profits from Bitcoin positions exceeded $2.6 billion. According to Glassnode, this was driven by increased distribution from long-term investors. As the #Bitcoin market hits resistance at a new ATH of $73k, the Long-Term Holder cohort have ramped up their overall distribution pressure. The market is […]

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ForkLog 14 26.03.2024

RWA Tokens Surge 81% in a Week

The market capitalization of RWA tokens has risen to $8 billion, with ONDO, POLYX, and OM leading the pack. Several major crypto projects have introduced new solutions for tokenizing “real-world” assets. Tokenized “real-world” assets (RWA) are gaining traction. The sector’s total market capitalization increased by 81% over seven days, reaching $8 billion. RWA Token Index. […]

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ForkLog 14 26.03.2024

Bitcoin Surges Past $71,000 Amid Rising Investment Demand

On March 26, the price of the leading cryptocurrency once again surpassed $71,000, gaining 6% in a day. 15-minute BTC/USDT chart on Binance. Data: TradingView. At the time of writing, the coin is trading at $71,260. Its market capitalization stands at $1.4 trillion with a trading volume of $45 billion, according to CoinGecko. Following Bitcoin, […]

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