Hodler’s Digest, June 12-18 -Breaking
Binance ceases support anonymous transactions
Binance will ban Litecoin from its website (LTC) transactions sent through the most recent MimbleWimble (MWEB) upgrade from its exchange, noting that such transactions would now result in the loss of the related LTC. Binance will not delist LTC completely, as opposed to other exchanges who have made the decision to do so. Among other changes made, the most recent Litecoin MWEB Update introduced privacy features. Binance’s decision to end support for these transactions comes as global crypto regulation remains an ever-present focal point in the industry.
Network adoption is growing despite the delay of difficulty bomb
A key part of Ethereum’s plan to move towards proof-of-stake (PoS) has been delayed by the difficulty bomb. Simply put, the difficulty bomb renders mining on Ethereum’s proof-of work (PoW), chain unreachable to make it possible to move everyone to the PoS network. The Merge of Ethereum is anticipated to happen in August. A successful testnet merger was conducted by Ethereum developers to simulate the actual Ethereum PoS chain.
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Celsius exodus. $320M worth of crypto sent by FTX to FTX. Users withdraw pause
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BlockFi fined $943K by an Iowa regulator for an unregistered securities offer
Elon Musk gets hit with ‘ridiculous’ $258B lawsuit
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Crypto projects are needed to fight the demonization of privacy by central authorities