On December 28, a significant amount of tokens owned by SBF’s trading business Alameda Research were sold on the open market.Cryptocurrency research company Arkham Intelligence reported that approximately $1.7 million worth of Ether, USDC, DAI, and CRV tokens were traded over several hours from wallets connected to Alameda.The assets were then exchanged for Bitcoin on trading platforms such as FixedFloat and ChangeNow.According to Arkham Intelligence, the total value of cryptocurrencies held by Alameda has decreased from $140 million in the middle of November to $112 million.The FTX-Alameda Drama Continues to Unfold The recent transfer of assets from FTX has raised concerns among the community.It has been hypothesized that the way in which these funds are being exchanged resembles that of an exploiter, but given SBF’s history of criminal activity, it is possible that the transfers are an inside job to remove whatever is left in the wallets, including the $112 million mentioned previously.Coinciding with SBF’s bailout were continued transfers of funds from Alameda accounts, as millions of dollars worth of cryptocurrency were stolen from FTX’s wallets on the same day that the exchange filed for bankruptcy.
U.S.
authorities are investigating the FTX exploit that cost the company $370 million.Additionally, on November 6, 2022, all 20,176.84 BTC in FTX’s Bitcoin holdings, worth $334 million at the time, were stolen in less than 24 hours.The whereabouts of the BTC are unknown, and while some people speculate that white hat hackers or police enforcement now control them, others believe that a thief is responsible.Was this writing helpful? No Yes Burn Mechanism ‘Ultra Sound’ Money — Simulation Shows Ethereum’s Inflation Rate Is Significantly Lower Using Proof-Of-Stake Its been 105 days since Ethereum transitioned from a proof-of-work (PoW) blockchain to a proof-of-stake (PoS) network and the number of Ethereum validators is set to surpass 500,000 in 2023.According to metrics, Ethereum’s issuance rate of new coins has dropped considerably and only 4,790.45 ether has been minted since The Merge took place on Sept.15, 2022.Ethereum’s Issuance Rate Is 0.014% per Annum in Contrast to the Simulated PoW Inflation Rate of 3.58% per Year The Ethereum (ETH) network has been operating under its proof-of-stake (PoS) consensus algorithm for more than three months and since then, 4,790.45 ethereum or $5.7 million in value has been added to the supply.Statistics from ultrasound.money show that Ethereum’s current issuance rate of new coins per annum is 0.014%.
That’s a whole lot different than what it would be if Ethereum was still a PoW chain, according to ultrasound.money’s simulation metrics.If ETH remained a PoW chain during the last 105 days, then the issuance rating or inflation rate per annum would be 3.58%.That would be approximately 1,247,674.60 ether added to the supply by 10:15 a.m.(ET) on Dec.29, 2022.Instead of $5.7 million in value added, a PoW ETH chain would have added more than $1.5 billion in value.In addition to the lower issuance rate, Ethereum also has a burn mechanism, and records show roughly 658,000 ether is burned each year.To date, 2,795,773 ether or $8.78 billion in U.S.
dollar value has been burned by destroying ETH since the Aug.
5, 2021 London Hard Fork.Data from Dune Analytics indicates the biggest leader in terms of the number of ETH burned is tied to traditional ethereum (ETH) transfers, which account for 247,008 ETH burned since the London Hard Fork.The non-fungible token (NFT) marketplace Opensea and its users are responsible for burning 229,928.53 ether and the decentralized exchange (dex) Uniswap V2 has burned 143,394.07 ether since Aug.5, 2021.Transferring the stablecoin USDT has equated to 123,014.14 ether burned to date, and Swaprouter 02 accounts for the fifth largest burner with 110,868.70 ether destroyed.Furthermore, the number of validators validating consensus within the Ethereum network is nearing 500,000, according to current beaconcha.in statistics.On Dec.
28, 2022, 492,863 validators were recorded, which is a marked increase from last year’s number of validators 12 months ago, which was roughly 275,054.Data from mevwatch.info also shows that 69% of the blocks mined on the ETH network are enforced with the U.S.Office of Foreign Assets Control (OFAC) compliance.
Tags in this story Burn Mechanism, ETH, ETH burns, ETH issuance, ETH Transfers, ether, Ethereum (ETH), Ethereum issuance, Ethereum Network, ethers, inflation rate, issuance rate, London Hard Fork, OFAC, OFAC complaint blocks, Opensea, PoS, PoW, PoW simulation, The Merge, Ultra Sound Money, uniswap, USDT What do you think about Ethereum’s network issuance rate since it transitioned from proof-of-work (PoW) to proof-of-stake (PoS)? Let us know what you think about this subject in the comments section below.
Jamie Redman Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida.Redman has been an active member of the cryptocurrency community since 2011.He has a passion for Bitcoin, open-source code, and decentralized applications.Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.
Image Credits: Shutterstock, Pixabay, Wiki Commons Disclaimer: This article is for informational purposes only.It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies.Bitcoin.com does not provide investment, tax, legal, or accounting advice.Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
california Californian regulatory body issues alert about 17 crypto websites – The Californian regulatory body has issued 17 alerts over the past two days against potentially fraudulent crypto brokers and websites.- As per a CertiK report, 84% of videos on YouTube mentioning front-running bots were scams.The California Department of Financial Protection and Innovation (DFPI) has issued 17 alerts over the past two days against potentially fraudulent crypto brokers and websites.Tahoe Digital Exchange, TeleTrade Options, Tony Alin Trading Firm, Hekamenltd/Tosal Markets Limited, Trade 1960, Yong Ying Global Investment Company Limited, Unison FX, VoyanX.com, and ZC Exchange are among the crypto platforms that the Californian regulatory body had warned investors of.
Besides, eth-Wintermute.net and UniSwap LLC are the two copycat versions of credible crypto platforms.According to the DFPI, these companies appear to be committing fraud against California consumers.It is unusual for the DFPI to issue such a large number of warnings.The number of crypto scam reports appears to have increased in the latter stages of the year.The DFPI usually issues sporadic warnings about company investigations or alerts about specific incidents.An elaborate crypto scam The warnings were issued in response to citizen complaints against crypto brokers and traders, with the DFPI stating that complainants have reported losses ranging from $2,000 to $1.2 million in some cases.
The DFPI, on the other hand, only goes so far as to say that these websites appear to be engaging in fraud.The majority of these complaints are related to pig slaughtering or romance scams.
In this type of scam, an individual or a group creates a false online identity in order to establish false relationships or friendships through social media, messaging, and dating apps.A fraudster would typically spend weeks or months building such phoney kinship in order to gain the victim’s trust before gradually shifting the conversation to investments and enticing them to invest in these fraudulent schemes.The victim ends up investing in cryptocurrency through a duplicate version of a legitimate website or transferring funds to a bogus wallet address.Finally, the scammer disconnects all forms of communication.The blockchain security firm CertiK reported early this month that 84% of videos on YouTube mentioning front-running bots were scams, with the number increasing 500% from 28 videos in 2021 to 168 videos in 2022.“The DFPI urges consumers to exercise extreme caution before responding to any solicitation offering investment or financial services.To check whether an investment or financial service provider is licensed in California” mentions the DFPI.- Stellar registered network growth in the last year.
– The value of its native token XLM, however, declined severely.
In a new report detailing the milestones reached in 2022, Stellar founder and CEO Denelle Dixon noted that the global payments platform recorded network growth amid the general market downturn during the year.Read Stellar’s [XLM] Price Prediction 2023-24 According to the report, Stellar saw the count of total assets under its belt jump by 73%.It closed the year with 155,943 total assets.
In addition, the number of digital payment transactions processed by the open-source decentralized protocol during the year totaled $345.92 million.This represented over 176% rally from the 125.14 million payments it processed by the end of 2021.
Further, Stellar closed the year with over 7.37 million total accounts, having climbed by 17% in the last year.Despite the network growth in the last year, Dixon noted the count of Stellar’s relevant assets dropped by 10%.
According to the report, relevant assets are “assets tethered to real financial instruments that connect global financial infrastructure with Stellar on/off ramps.” It, however, managed to log growth in daily transaction volume for this asset category during the year.Dixon reported, “While we’ve tightened our reporting criteria to remove stale relevant assets and observed a slight decrease in the number of relevant assets on the network, Stellar has seen a 1.9x increase in daily transaction volume of these assets since the start of the year.” On what the plans are for the coming year, Dixon said: “We’re always thinking of ways to adapt with the ever-shifting landscape of blockchain, crypto, financial services, and fintech.” Are your XLM holdings flashing green? Check the Profit Calculator Not much growth for XLM While Stellar recorded network growth, closed a few partnerships and implemented a number of protocol upgrades, the 2022 factor made it hard for its native token XLM to register any growth.During the year, the cryptocurrency market saw a significant drop in value, totaling over $1.4 trillion.This decrease has been linked to various problems within the industry, such as unsuccessful ventures and a shortage of liquidity, which was made worse by the collapse of Terra-Luna and FTX.Not spared from the general market decline, XLM’s price dropped by 74% on a year-to-date basis, data from CoinMarketCap showed.Exchanging hands at $0.07215 at press time, XLM traded at its lowest point since the beginning of the year.
Top posts Burn Mechanism3 hours ago ‘Ultra Sound’ Money — Simulation Shows Ethereum’s Inflation Rate Is Significantly Lower Using Proof-Of-Stake Its been 105 days since Ethereum transitioned from a proof-of-work (PoW) blockchain to a proof-of-stake (PoS) network and the number…Cryptocurrency news4 hours ago Dogecoin Has To Remain Above These Levels For Price To Turn Around The Dogecoin price had recently faced intense selling pressure; however, over the last 48 hours, DOGE showed signs of recovery….
Cryptocurrency5 hours ago Oryen Network, BNB, And Solana (SOL): Powerful Portfolio Picks.ORY Presale Live Cryptocurrency investors who want to diversify their portfolios and make sure they are ready for the next bull market should…SOL6 hours ago Solana Suffers Double-Digit Losses, Is There An End In Sight? Solana has been on a depressing downtrend ever since the FTX crypto exchange imploded.The asset has already lost a…Bankruptcy10 hours ago Celsius, FTX, Voyager users sell bankruptcy claims for pennies on the dollar Celsius, FTX, Voyager users sell bankruptcy claims for pennies on the dollar Samuel Wan · 17 mins ago · 2…
Crypto10 hours ago 3 Remarkable Crypto Predictions By “Big Short” Michael Burry Michael Burry, commonly known in the investment world as “Big Short,” has become famous for his predictions of the housing…Crypto’s10 hours ago Why Experts Think These 7 Cryptos Will Explode In 2023 Even though the crypto market is still on a downward trajectory, new exciting projects are emerging each day.But in…best altcoins11 hours ago 10 Best Altcoins To Invest And Buy Ahead Of Next Altcoin Season That Will Pump By 25X During the bear/bull cycles that occur in the crypto market, there is a period where altcoins start to increase exponentially…california11 hours ago Californian regulatory body issues alert about 17 crypto websites The Californian regulatory body has issued 17 alerts over the past two days against potentially fraudulent crypto brokers and websites….
Exchanges11 hours ago Binance secures 14 licenses, grows headcount to 7,500 in 2022 Binance secures 14 licenses, grows headcount to 7,500 in 2022 Zeynep Geylan · 45 mins ago · 1 min read…News12 hours ago The FTX Controversy Continues: Alameda Dumps $1.7M Crypto Assets For Bitcoin On December 28, a significant amount of tokens owned by SBF’s trading business Alameda Research were sold on the open…algo12 hours ago Why ALGO Has Been Stagnant In Last 10 Days And Still At The Mercy Of Bears ALGO, an altcoin by the Algorand blockchain with a market cap of $1.18 billion, continues to feel the effects of…Altcoins12 hours ago Stellar 2022 wrap-up with end-of-year metrics, milestones, achievements Stellar registered network growth in the last year.The value of its native token XLM, however, declined severely.
In a…
Here’s12 hours ago You Took Out Debt In 2022.Here’s What To Do With It In 2023 Credit: Getty Images We want to help you make more informed decisions.
Some links on this page — clearly marked…Africa12 hours ago Report: Central African Republic Postpones Sango Coin Listing The Central African Republic’s plan to list the sango coin in the last quarter of 2022 has been put on…NFTs13 hours ago Pudgy Penguins transaction volume surges 599% in 7 days Pudgy Penguins transaction volume surges 599% in 7 days Zeynep Geylan · 3 hours ago · 1 min read The…ETH14 hours ago Ethereum Price Lacks Momentum Above $1,200: Why Bears Are Comfortable Ethereum started a fresh decline below the $1,200 zone against the US Dollar.ETH might correct higher, but the bears…Bankruptcy14 hours ago Disputed Robinhood shares may be moved to neutral account at BlockFi’s request Disputed Robinhood shares may be moved to neutral account at BlockFi’s request Mike Dalton · 4 hours ago · 1…
Trending – Altcoins5 days ago Privacy Coins Take A Beating This Year Losing Over $6 Billion, Anonymity Takes A Back Seat To Defi, NFTs – audits4 days ago Snowden To Musk: ‘I Take Payment In Bitcoin’; Big Short Investor Says Audits Of Exchanges Like Binance And FTX Are ‘Meaningless,’ And More — Week In Review – Coding vs Machine Learning6 days ago Coding Vs Machine Learning: Which Tech Skill Will Help You Become An AI Engineer? – Analysis3 days ago Bitcoin, Ethereum Technical Analysis: BTC, ETH Consolidate On Monday As Markets Remain Sluggish Following Christmas – Cryptocurrency4 days ago Snowfall Protocol (SNW) Outperforms Eos (EOS) And Ethereum Classic (ETC) With A Strong Price Increase – 200-week moving average2 days ago Crypto Supporters Sift Through The Graveyard Of Technical Indicators That Failed To Predict Bitcoin’s Bottom – Bitcoin4 days ago Amid vanishing Bitcoin whales, these BTC investors seem ready to hold the fort – Cryptocurrency3 days ago Binance In Legal Trouble, Sued For 2.4 Million Euros []https://news.btcminingvolt.io/uncategorized/privacy-coins-take-a-beating-this-year-losing-over-6-billion-anonymity-takes-a-back-seat-to-defi-nfts/ []https://news.btcminingvolt.io/uncategorized/snowden-to-musk-i-take-payment-in-bitcoin-big-short-investor-says-audits-of-exchanges-like-binance-and-ftx-are-meaningless-and-more-week-in-review/ []https://news.btcminingvolt.io/latest-news/coding-vs-machine-learning-which-tech-skill-will-help-you-become-an-ai-engineer/ []https://news.btcminingvolt.io/uncategorized/bitcoin-ethereum-technical-analysis-btc-eth-consolidate-on-monday-as-markets-remain-sluggish-following-christmas/ []https://news.btcminingvolt.io/cryptocurrency/snowfall-protocol-snw-outperforms-eos-eos-and-ethereum-classic-etc-with-a-strong-price-increase/ []https://news.btcminingvolt.io/uncategorized/crypto-supporters-sift-through-the-graveyard-of-technical-indicators-that-failed-to-predict-bitcoins-bottom/ []https://news.btcminingvolt.io/news/amid-vanishing-bitcoin-whales-these-btc-investors-seem-ready-to-hold-the-fort/ []https://news.btcminingvolt.io/news/binance-in-legal-trouble-sued-for-2-4-million-euros/.