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Meitu was one among many public companies that purchased Bitcoin to hold as a treasury reserve during the peak of the bull run last year and now joins the list of companies that have suffered heavily due to the bear market. Hong Kong tech giant Meitu made headlines in April last year after it reported nearly $100 million in crypto holdings. However, with the advent of the bear market, the tech firm has lost nearly half of the valuation of its crypto holdings. According to a local media report, Meitu reported an impairment loss of over 300 million yuan, approximately $43.4 million, on their crypto holdings. An impairment loss is a loss in value of an asset when it falls below the carrying value of the investment. The financial filing revealed that the impairment loss has more than doubled from the last quarter, something the firm had anticipated earlier. The tech giant has said that its crypto holdings could impact the net loss of the company by the end of the first half of the year

The prototype infrastructure for Norway’s central bank digital currency is based on Ethereum, the Norges Bank officially stated. The Central Bank of Norway has hit a major milestone in digital currency efforts, releasing the open source code for the country’s Central Bank digital currency (CBDC) sandbox. Available on GitHub, the sandbox is designed to offer an interface for interacting with the test network, enabling functions like minting, burning and transferring ERC-20 tokens, the Norges Bank’s official CBDC partner Nahmii said in a blog post. Nahmii stressed that the current version of the code does not support the major Ethereum wallet MetaMask by design and is only privately accessible by users with appropriate credentials. In addition to deploying the appropriate Smart Contracts and access controls, the Norges Bank sandbox includes a custom frontend and network monitoring tools like BlockScout and Grafana. The front end also shows a filterable summary of transactions on the ne

The SEC argues that as ETH validators are concentrated more densely in the United States, ETH transactions are seen as taking place in the country. The Securities Exchange Commission (SEC) has made an unprecedented claim that Ethereum transactions take place in the United States as ETH nodes are “clustered more densely” in the United States than any other country.  The SEC argument is found within a Sept. 19 lawsuit against crypto researcher and YouTuber Ian Balina, which alleged, among many other complaints, that Balina conducted an unregistered offering of Sparkster (SPRK) tokens when he formed an investing pool on Telegram in 2018. The SEC claims that at the time that U.S.-based investors participated in Balina’s investing pool, the ETH contributions were validated by a network of nodes on the Ethereum blockchain, “which are clustered more densely in the United States than in any other country.” The SEC argued that as a result, “those transactions took place in the United States.”

With the Ethereum Merge only days away, crypto Analysis company CoinGecko has looked into which countries are most interested in the imminent upgrade. According to CoinGecko reports, Singaporean crypto holders lead several others in terms of interest in Ethereum’s imminent historic milestone. Singapore’s “ETH Merge” Searches Eclipse US, Canada Ethereum’s dev team has confirmed that the network’s shift to the Proof-of-Stake consensus mechanism will occur between September 13 and 15. As the upgrade has been in the works for years, several industry participants have been eagerly awaiting the launch date. Hence, CoinGecko studied data surrounding global Google trends of English search terms to assign nations worldwide a “total search score. According to the findings from the study, Singapore ranks first in the list of nations anticipating the Merge. CoinGecko reports that the  Southeast Asian country had a search score of 377, significantly higher than other nations across the wo

Can you Make Money with Ethereum?: Guide Investing in cryptocurrencies can be a lucrative venture, but it’s important to carefully consider the potential risks and rewards before making any financial decisions. When it comes to Ethereum, the second-largest crypto currency by market capitalization, many investors wonder if it’s worth putting their money into this digital asset. In this article, we will explore the long-term investment potential of Ethereum and provide insights into how you can make real money with this cryptocurrency. Also read: Worldcoin’s Surge Causes Optimism to Dethrone Arbitrum in Daily Transactions Understanding Ethereum and its Potential Ethereum is not just a crypto currency; it is a decentralized blockchain platform that enables the creation of smart contracts and decentralized applications (DApps). Source: Forbes This unique feature sets Ethereum apart from other cryptocurrencies like Bitcoin. Smart contracts are self-executing contracts with the

Ethereum is scheduled to implement the Shapella hard fork or Shanghai upgrade in eight days. This update will enable stakers to unlock their staked ETH. However, some investors are concerned about the potential for a significant sell-off of Ether on exchanges. While the sell-off fear persists on one side, another fear about what could happen with the SEC post-upgrade has also surfaced. The SEC has ramped up its scrutiny of the cryptocurrency realm ever since the fall of the FTX exchange. Also read: Bitcoin: MicroStrategy Buys 1045 BTC for $29.3 Million Things have become even worse as the SEC tries to label all cryptocurrencies, except Bitcoin, as sec urities. Enabling staked Ethereum withdrawal could elevate backlash Lara Gatz, who is a new partner in the global regulatory enforcement practice of Reed Smith LLP and a former federal pro sec utor with the Department of Justice, stated how Ethereum could face backlash for enabling the withdrawal of staked Ether.

Other clients also reported the same issue. VanDerWijden said the team found that Go Ethereum (Geth) client nodes facing difficulty syncing with the Zhejiang testnet. advertisement “The last 4 and a half stressful hours of debugging culminated in this amazing bug fix. We got reports that geth nodes wouldn’t sync the Zhejiang devnet correctly. The issue was that if a block body was empty (no tx, no withdrawals) we wouldn’t initialize it correctly.” However, developers believe the problem can be fixed with a patch as it’s fairly easy to test. In addition, core developer Tim Beiko asserts an additional Hive test is proposed for ensuring the issue is resolved correctly. Interestingly, Ethereum core developers think the issue likely will not impact the Sepolia upgrade scheduled on February 28 at 4 AM UTC. The client releases for the upgrade and blog on the same will be announced early next week. Trending Stories PEPE Price Pr

Ethereum core developer Tim Beiko in a tweet on February 24 announced that the team plans to launch the Holli testnet near September 15, 2023. The plan to launch a new testnet has been in process since the Merge upgrade last September. advertisement A new testnet , Holli, is planned to launch later this year, and hopefully we can figure out these things before then! I've made two suggestions on the repo, and would love to hear from application layer devs about how we could better approach this! — timbeiko.eth (@TimBeiko) February 23, 2023 Trending Stories ETH Price Prediction: New Recovery Cycle in Ethereum Price Hints a 10% Rally Ahead 24/7 Cryptocurrency News PEPE Price Prediction: This Chart Pattern may Determine if PEPE Token Price will Rally 70% or Fall 40% 24/7 Cryptocurrency News Bitcoin Price Reversal from a Healthy Retracement Level Hints 6% Jump; Enter Today? 24/7 Cryptocurrency News ADA Price Pre

Unlocking the Power of Etherscan: A Step-by-Step Guide to Navigating the Platform As the popularity of Ethereum continues to grow, so does the need for reliable and efficient tools to manage its transactions. One such tool is Etherscan, a powerful platform that allows users to explore and interact with the Ethereum blockchain in various ways. In this step-by-step guide, we’ll take you through the basics of Etherscan, including how it works, how to use it, and how to unlock its full potential for your Ethereum transactions. Source: CNBC What is Etherscan, and How Does it Work? Etherscan is a blockchain explorer—a tool that allows users to explore and interact with the Ethereum blockchain. It provides a wide range of Features , including the ability to search for transactions, view wallet addresses, and track the progress of smart contracts. The platform is a window into the Ethereum network, providing users with a wealth of information about the blockchain and its tran

The proposal received mixed reactions from the crypto community, with some users stressing that it would make the network more centralized. Ethereum core developers plan to implement a 64-fold increase in the minimum amount of staked Ether (ETH) required to become a validator , from 32 ETH to 2048 ETH. The proposal was made during a June 15 Ethereum core developer consensus meeting by Ethereum Foundation researcher Michael Neuder. The researcher noted that although the current limit of 32 ETH allows more validator s to join the Ethereum network, making it more decentralized, it also leads to an inflation of the validator set size. Neuder added that such a large increase would ultimately help the Ethereum network become more efficient over time. Besides the proposal to increase the minimum required staked ETH for validators, Neuder also called for auto-compounding validator rewards. Ethereum consensus layer meeting. Source: YouTube The auto-compounding of rewards would allow validator

Blockchain investigators identified PrimeTrust’s inaccessible “98f Wallet” containing $40 million in stranded crypto assets. Prime Trust lost access to the multisig wallet holding customer funds in 2021 despite security measures. Intriguingly, $20 million in ETH was transferred into the 98f wallet after it was known to be inaccessible, deepening the mystery. PeckShieldAlert, a blockchain security firm, has shared a breakthrough discovery by Arkham regarding the Prime Trust multisig wallet. Termed the “98f Wallet,” this wallet had previously garnered attention after a court filing showed that access to its substantial crypto holdings had been lost. The new finding by PeckShieldAlert shows that 12,000 ETH, worth approximately $20 million, were transferred into the 98f wallet, even after it was ostensibly known to be in access ible. #PeckShieldAlert Arkham has detected that the #PrimeTrust multisig wallet 0xf4E1…98f, i.e. “the 98f Wallet,” was the wallet m

The crypto wallet wallet linked to 1inch Investment Fund currently holds around $80 million in various digital assets. A crypto wallet belonging to the 1inch Investment Fund has bought huge amounts of Ether (ETH) a month after recently cashing out on its dollar-cost averaging (DCA) buys throughout the first quarter of 2023.  Blockchain analysis platform Lookonchain, which follows and posts smart profitable trades, flagged the transaction. According to the firm, the 1inch-affiliated wallet bought a total of 6,088 ETH at the price of $1,655, which means that the company spent over $10 million on the purchase. 1inch Investment Fund wallet spent $10M to buy 6,088 $ETH at $1,655 6 hrs ago. The wallet bought a total of 17K $ETH($26.8M) at an average price of $1,569 on Jan 13, Feb 9 and Mar 14. Then sold 11K $ETH($21M) at $1,906 on July 5, making ~$3.7M.https://t.co/QhEm3M9Mm7 pic.twitter.com/JUxzA8hFom — Lookonchain (@lookonchain) August 28, 2023 The trade comes after the company cashe