Ethereum

Consensys Slashes Workforce by 20%, Citing SEC ‘Abuse of Power’ and Macroeconomic Conditions
Post

Consensys Slashes Workforce by 20%, Citing SEC ‘Abuse of Power’ and Macroeconomic Conditions

Consensys, the Ethereum-focused software giant behind the MetaMask wallet, has announced layoffs affecting about 20% of its workforce, citing regulatory challenges and macroeconomic conditions. The New York-based company, led by Ethereum co-founder Joseph Lubin, stated on October 29 that it would eliminate 162 positions due to regulatory uncertainty and macroeconomic pressures, including rising interest rates...

Market Downturn Sees Ethereum and Bitcoin Transaction Fees at Multi-Month Lows
Post

Market Downturn Sees Ethereum and Bitcoin Transaction Fees at Multi-Month Lows

Ethereum and Bitcoin are witnessing a significant drop in transaction fees, hitting multi-month lows despite sustained high network activity. This comes during one of the most challenging weeks for the broader crypto market in 2024, with Bitcoin falling below $63,000 and many altcoins suffering double-digit losses. Ethereum’s gas prices, the fees required for transactions on...

Ethereum Cleared by SEC, Investigation Closed Permanently
Post

Ethereum Cleared by SEC, Investigation Closed Permanently

The United States Securities and Exchange Commission (SEC) has officially concluded its investigation into Ethereum, deciding not to pursue any charges alleging that sales of ETH are securities transactions. This decision marks a significant milestone for Ethereum, the second-largest cryptocurrency globally. The closure of the investigation follows a letter from Ethereum developer ConsenSys, which asked...

US Senators Criticize SEC as Ethereum ETFs Near Approval
Post

US Senators Criticize SEC as Ethereum ETFs Near Approval

SEC Chairman Gary Gensler has provided insight into the timeline for the approval of Ethereum exchange-traded funds (ETFs), indicating that these financial products could receive final approvals “sometime over the course of this summer.” Gensler made this statement during a June 13 hearing of the US Senate Committee on Appropriations in response to a question...

Binance to Remove BIDR Support Across Multiple Services
Post

Binance to Remove BIDR Support Across Multiple Services

Binance, a leading cryptocurrency exchange, has announced the delisting of trade pairs involving the stablecoin backed by the Indonesian Rupiah (BIDR). This change will impact trading pairs for Bitcoin (BTC), Ethereum (ETH), and Tether (USDT) across various services offered by the exchange. The exchange has outlined a detailed action plan with specific deadlines for the...

Hong Kong Set to Approve First Bitcoin and Ethereum ETFs
Post

Hong Kong Set to Approve First Bitcoin and Ethereum ETFs

Hong Kong regulators are reportedly on the brink of approving the first Bitcoin and Ethereum exchange-traded funds (ETFs) in Asia, with an announcement expected by April 15. This pioneering move could position Hong Kong as the inaugural Asian market with operational Bitcoin and Ethereum ETFs. Sources close to Bloomberg suggest that an international branch of...

SEC Subpoenas Stir Concerns for Ethereum’s Future and ETF Prospects
Post

SEC Subpoenas Stir Concerns for Ethereum’s Future and ETF Prospects

Recent developments have cast a shadow over the cryptocurrency industry, with the United States Securities and Exchange Commission (SEC) issuing multiple subpoenas to parties connected to the Ethereum Foundation. This action, reported by Fortune on March 20, 2024, has ignited fears that Ether, Ethereum’s native cryptocurrency, might be reclassified as a security—a move that could...

Ethereum Blockchain’s Pre-Upgrade Emissions Equal to Honduras’ Annual Output, Study Finds
Post

Ethereum Blockchain’s Pre-Upgrade Emissions Equal to Honduras’ Annual Output, Study Finds

A recent study from the University of Cambridge has revealed that the Ethereum blockchain’s greenhouse gas emissions, prior to its major software upgrade in 2022, were comparable to the yearly emissions of Honduras. High Energy Consumption of Blockchains Blockchains, the foundational technology behind cryptocurrencies, are known for their significant energy consumption due to coin production...

‘Staggering’ $300 Billion Prediction Reveals Potential Bitcoin Price Peak After Huge Crypto And Ethereum Boom
Post

‘Staggering’ $300 Billion Prediction Reveals Potential Bitcoin Price Peak After Huge Crypto And Ethereum Boom

Bitcoin, ethereum and other major cryptocurrencies have seen a spectacular recovery this year (though ethereum’s founder has issued a stark warning over crypto’s “next bull run”). The bitcoin price has topped $30,000 per bitcoin for the first time since last summer while ethereum has surged to over $2,000 per ether as upgrades fuel a price...