Doge2014, an ERC-20 token designed to celebrate the 10th anniversary and legacy of Dogecoin, has
Bitcoin's price rises above $94,000 amidst eased selling pressure. Traders are advised to remain cautious as market fluctuations continue. Continue Reading: Bitcoin Surges Above $94,000 as Market Faces Key Indicators The post Bitcoin Surges Above $94,000 as Market Faces Key Indicators appeared first on COINTURK NEWS .
CrowdStrike has warned of a new phishing campaign that mimics its recruitment process to deliver the Monero miner via a fake application download. Global cybersecurity provider CrowdStrike has identified a phishing campaign exploiting its recruitment emails to distribute a malicious Monero ( XMR ) mining software. In a blog post , the Austin-headquartered firm explained that the scam uses fake job offers to trick people into downloading an application that installs the XMRig miner on their system. CrowdStrike says the phishing emails impersonate its recruitment process, luring victims to a fake website. There, they are asked to download an “employee CRM application,” which is actually a downloader for the cryptominer. “The attack begins with a phishing email impersonating CrowdStrike recruitment, directing recipients to a malicious website. Victims are prompted to download and run a fake application, which serves as a downloader for the cryptominer XMRig.” CrowdStrike You might also like: Over 800k servers at risk due to new cryptojacking malware exploiting PostgreSQL CrowdStrike explained that the downloaded file checks the victim’s system to avoid detection. “If these checks are passed, the executable displays a fake error message pop-up before continuing,” the firm said. After this, the malicious application downloads and installs the XMRig miner. CrowdStrike says the phishing site, cscrm-hiring[.]com, hosts the fake CRM application and urges job seekers to be cautious, stressing that it never asks candidates to download software during the recruitment process. The latest campaign is once again a good reminder that crypto scams can show up behind fake job offers. A similar incident happened during the 2022 Ronin Network hack , where North Korean state-backed hacking collective Lazarus Group tricked an employee with a phishing email, getting them to open a malicious PDF file, which led to the theft of over $600 million in crypto. Read more: BTC ETFs cross $17b, CrowdStrike outage, WazirX suffers $234m hack, ETH ETFs launch date | Weekly Recap
The Sui Foundation has published a list of twelve projects that completed its first Hydropower Accelerator program. According to a Jan. 9 announcement , the Sui Network has successfully concluded its first Hydropower Accelerator program, with the twelve graduating teams now positioned to continue building their solutions and leverage the Sui ecosystem for further development, including early access to new technologies. Out of hundreds of applications, twelve teams were selected to join the inaugural cohort, with the selected projects targeting a diverse array of sectors “from DeFi to DePIN to real world assets,” the Sui Foundation stated. These projects included 7k, a smart trading ecosystem that quickly became Sui’s second-largest aggregator; AdToken, a peer-to-peer advertisement network that enables businesses to launch on-chain ad campaigns; InsiDeX, a platform providing insights into all DeFi activities on Sui and Gifted, a digital gifting platform that improves the experience of sending and receiving digital art. Other projects included Lotus Finance, a decentralized market maker; Nativerse, which focuses on non-custodial liquid staking; Nemo Protocol, a native yield trading platform; Pomerene, a DePIN solution for international trade, Printr, a tokenization and fundraising platform; and Protocol Media Labs, which aims to strengthen the journalism sector by offering decentralized tools. Details of one participant were not disclosed. You might also like: Sui bids for new ATH as TVL skyrockets The Sui Hydropower Accelerator is an eight-week program designed to empower startups building on the Sui network, offering expert mentorship, hands-on learning, and access to critical resources. Throughout the program, participants receive guidance in areas such as technology, product development, marketing, and fundraising while they also get the chance to engage with Web3 experts and fellow builders. At the end of the program, the participating teams get the opportunity to garner feedback from “Sui-friendly venture capitalists.” In the future, Sui plans to support more builders by offering additional programs in the coming year. Sui ecosystem expands The latest development comes as the Sui ecosystem has witnessed significant growth in the final quarter of 2024. According to its Q4 report , Sui reached a peak TVL of $1.8 billion, with an average TVL of $1.4 billion, more than doubling the previous quarter’s amount. Meanwhile, its cumulative volume surged nearly 10 times compared to the previous quarter. Sui’s growth is being driven by decentralized finance, decentralized physical infrastructure networks, and gaming projects being built on its blockchain. Meanwhile, it has continued to strengthen its market presence via key integrations and partnerships. Last month, the project partnered with Ant Digital Technologies and web3 plug-and-play tools provider ZAN to tokenize environmental and governance-backed real-world assets. Meanwhile, Sui also found itself amidst controversy in October 2024 over claims of alleged insider token sales. The Sui Foundation quickly addressed this allegation and clarified that token lockups are managed by qualified custodians and are continuously monitored by the Foundation. Read more: Sui resumes strong uptrend, soars by over 1,300% from lowest level
Over the last few years, the crypto industry has come to view the Securities and Exchange Commission (SEC) as an enemy and the Commodity Futures Trading Commission (CFTC) as a potential friend. Where the two enforcement agencies differed on crypto came down to a matter of philosophy. The SEC publicly took a harsh and antagonistic view of the crypto industry as rife with criminality and needing short reins. The agency under Gensler also felt that existing securities laws could be applied to crypto. The CFTC, in contrast, had a more nuanced view of an industry in need of regulation that fit the new paradigm it was bringing to the financial markets. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io
In a recent update from COINOTAG News on January 10th, it has come to light that Kraken has commenced communication with clients eligible for FTX reimbursement funds. These notifications, sent
Evan Cheng, a tech expert, CEO of Mysten Labs, slammed the Ethereum Virtual Machine (EVM) as a “fundamentally broken” design. Cheng suggested the only fix to the EVM’s “design tech debt” would be “shooting it in the head and start over.” Notably, Evan Cheng previously worked at Apple and, then, as Head of Research and Development at Novi and Technical Director of Meta – showing an impressive tech curriculum, now in charge of developing the Sui Network ( SUI ), an Ethereum ( ETH ) competitor. In a video, shared by Mysten Labs co-founder Adeniyi Abiodun, the CEO technically explains why the EVM design is broken. At the same time, Abiodun supported his colleague, writing this is why they “never prioritized EVM compatibility when building Sui.” The EVM, however, is a well-adopted standard for the crypto industry. Notably, other experts agree with the two executives, urging developers to “move beyond dead-end designs.” Most tech debt can be paid off, but a broken design is a dead end. This is why we never prioritized EVM compatibility when building Sui. EVM is a broken design and it’s time for this industry to move beyond dead-end designs. pic.twitter.com/l8JMcQW33V — Adeniyi.sui (@EmanAbio) January 8, 2025 Why Ethereum Virtual Machine is a broken design and a tech debt First, Evan Cheng starts explaining that the “Blockchain Trilemma” jargon has “no mathematical-backing behind it. It’s based on a wrong design.” Adding to his thought line, the tech expert pointed to few staking pools significantly controlling most of Ethereum’s validating power. This, in his opinion, “is wrong” from a decentralization perspective, also challenging the so-praised “blockchain trilemma” by EVM supporters. Cheng continues in this reasoning, explaining that the staking pool example proves that EVM supporters “science is wrong” and their “understanding is wrong” when resorting to the blockchain trilemma to somewhat argue that Ethereum is the only (or the most) decentralized layer-one blockchain. “This is what happens when you build the wrong technology,” he concludes the first argument. “There is no path from that.” Then, the expert explains that, while “tech debts” can be fixed over time, Ethereum has a “design tech debt.” So, “the only way to solve a lot of these problems is shooting it in the head and start over.” In closing, Cheng mentions all the “hate” he receives for speaking against Ethereum and Solidity (EVM’s programming language) as another example of a “fundamentally broken” design. “The only way to do it, to solve the problem, is shooting it in the head and move on from it. But, you already have so many people, companies, users, everybody, depending on it. So, even if you want to do it, it is a very difficult path.” – Evan Cheng Other experts opinion on the EVM wrong design Interestingly, Mysten Labs executives and Sui developers are not the only blockchain and tech experts highlighting Ethereum design’s fundamental flaws. Kyle Samani, managing partner at Multicoin Capital, posted on January 8 that “Ethereum’s problem is not marketing. It’s product. No amount of marketing can fix a broken product,” he said. Robert Sasu, core developer of MultiversX ( EGLD ), quoted Adeniyi Abiodun post with Evan Cheng’s video, agreeing with their arguments. “First of all, I totally agree that EVM is a wrong design, as the token standards on EVM are of a wrong design. From this you cannot build insanely well made dApps and both the users and developers are always at a higher risk. EVM was a good start but people have to move on. It is like staying with steam engines when you have high performance electric motors.” – Robert Sasu According to Sasu, the SpaceVM built on top of WASM is a superior alternative. “WASM is a high performance electric motor which can be used to run almost any software.” Moreover, the tech expert criticized “single state blockchain networks” as another broken design, proposing sharding as a working solution. Besides these two, more developers and experts from other blockchains like Solana ( SOL ), Cardano ( ADA ), Algorand ( ALGO ), and Near Protocol ( NEAR ) have also shared similar opinions throughout the years, validating the, now growing opinion, that Ethereum has a “fundamentally broken” design, preventing the ecosystem to rise in real-world adoption. Indeed, Finbold has reported how the EVM’s token design contributes to investors falling victim of phishing attacks and other exploits. Suggesting the use of blockchains with a “native token” design as a battle-tested solution to prevent the, already so-common, losses from compromised wallets. Featured image from Shutterstock The post Tech expert slams Ethereum design as ‘fundamentally broken’ appeared first on Finbold .
The post UK Treasury Excludes Crypto Staking is Not a Collective Investment Scheme appeared first on Coinpedia Fintech News The UK Treasury has made an important update regarding crypto staking. It has been confirmed that staking doesn’t fall under the rules for “collective investment schemes” (CIS), a category that includes investment funds and ETFs. This decision is a relief for those involved in staking, especially in networks like Ethereum and Solana. Crypto Staking Not a Collective Investment On January 8, 2025, the UK Treasury confirmed that staking crypto assets, which involves locking tokens to help validate blockchain transactions, does not fall under collective investment schemes like ETFs and investment funds. This means staking will not be regulated the same way as investment funds, which are heavily controlled. The new rules will come into effect on January 31, 2025. The move has been widely praised within the crypto industry. Bill Hughes from Consensys explained that staking is more about securing the network than investing. Good news frens. It looks like that, by the end of the month, proof of stake mechanisms underlying certain blockchains (e.g. #Ethereum #Solana ) will not be considered collective investment schemes under UK law. This is a good development because the management and promotion of… pic.twitter.com/JJgEO5rmPP — Bill Hughes : wchughes.eth (@BillHughesDC) January 9, 2025 Unlike collective investment schemes, which pool money to make profits, staking rewards users for helping secure the blockchain by locking up their tokens. Step Forward for Clear Crypto Regulations This change is part of the UK’s broader effort to create clear and fair regulations for crypto. However, the government aims to ensure crypto services can operate without confusion while staying compliant with laws. Economic Secretary Tulip Siddiq noted that staking services shouldn’t be treated the same as investment funds. While staking now has clearer rules, the UK is also working on other regulations for crypto, such as for stablecoins and NFTs. The goal is to provide a framework that helps crypto grow while ensuring businesses follow necessary legal standards.
Ubisoft, a French video game maker, revealed that it had appointed advisors to pursue transformational capitalistic and strategic options. The company had previously revealed that its founding family was considering a potential buyout. Ubisoft revealed on January 9 that it had onboarded “leading advisors” to explore various capitalistic and strategic options ahead of a looming buyout. The French game maker also announced a further delay in its latest title, “Assasin’s Creed Shadows.” Ubisoft hires advisors to pursue capitalistic and strategic options Ubisoft justified the appointments by highlighting that it aims to acquire the best value for its stakeholders before its buyout. The announcement came after Ubisoft revealed that Chinese tech company Tencent Holdings and the Guillemot family, the company’s founding family, discussed the possibility of a takeover. Ubisoft’s shares surged over 30% after the buyout announcement. In his Thursday announcement, Ubisoft CEO Yves Guillemot emphasized that the company was convinced that its assets and franchises could generate more income in various ways. Ubisoft added that independent members of the Board of Directors would supervise the process. The company revealed that, per the applicable regulations, it would inform the markets once the transaction was complete. In a press release , the CEO said “We have taken decisive steps to reshape the Group in order to deliver best-in-class player experiences, enhance operational efficiency and maximize value creation,” Ubisoft also revealed it would implement cost reductions and intended to take a more selective investment approach. The company added that it expected to reduce its fixed cost base by more than 200 million euros. Ubisoft suggested that XDefiant’s discontinuation in December and the closure of three production studios were part of its new cost reduction measures. In August, Ubisoft reportedly laid off 45 employees across offices in the United States. Ubisoft’s spokesperson commented that these cuts were made to align with the company’s objectives. In April 2024, the company reportedly carried out similar layoffs across its global publishing teams to enhance collective efficiency. A month later, the video game maker announced it had reduced its staff by 1700 since 2022. The video game maker noted that Q3 bookings were expected to total approximately $309 million, largely due to reduced holiday sales, especially those for Star Wars Outlaws and Defiants, which were discontinued. Ubisoft shares recorded a 45% decline in the last year after years of gamers’ backlash over the quality of some titles. The company also recorded net losses amounting to 494 million euros in 2024 and a revenue forecast reduction from 2.3 billion euros to 1.95 billion euros in 2025. The plunge is reportedly due to poor sales, the failure of titles such as Star Wars Outlaws, and constant title delays, which have reduced investor interest. Ubisoft announces further delay in Assasin’s Creed Shadows launch Ubisoft announced a further delay in releasing its latest title, “Assasin’s Creed Shadows. ” The game was initially set for launch on November 12, 2024, but was delayed to February 14, 2025, in an announcement in September. According to the video game maker, the title will be launched on March 20, 2025. The company said the additional month was aimed at allowing the developers to incorporate player feedback in their gameplay overviews and refine the game. It also noted that it would incorporate gamers’ feedback into the previously released blog posts and videos showcasing the new title’s gameplay features. The Vice President Executive Producer of the Assassin’s Creed franchise, Marc-Alexis Cote also commented on the delay on the title’s official X page. He highlighted that the developers received feedback from the gaming community each week. Cote recognized that the developers had made significant strides and believed a few additional weeks would be necessary to improve the user experience. Marc-Alexis also emphasized that Ubisoft was committed to delivering quality products and an immersive experience through continuous dialogue between developers and gamers. Land a High-Paying Web3 Job in 90 Days: The Ultimate Roadmap
The post Why AAVE Price Could Be the Next Big Altcoin to Watch This Month? appeared first on Coinpedia Fintech News The AAVE price has maintained its value above its important support trendline, suggesting a strong bullish outlook for the altcoin in the crypto space. Further, with sentiment turning bullish, the AAVE coin is projected to gain significant traction during the upcoming altcoin market. Considering the present market situation, will the price of AAVE rally toward a new ATH this altcoin season? In this article, CoinPedia’s expert panel has uncovered the possible short-term price mysteries of the Aave (AAVE) cryptocurrency. AAVE Coin Price Retests Its Crucial Support Zone of $290! The Aave token has successfully maintained its value above its $290 mark with an intraday jump of 5.32%. Moreover, with a 24-hour trading volume of $594.73 million, this altcoin has a market capitalization of $4.44 billion and has secured the 31st position in the global crypto market. TradingView: AAVE/USDT The Relative Strength Index (RSI) shows a bullish curve in the daily time frame. Moreover, its average trendline records a potential positive crossover in the daily time frame. This suggests an increase in the buying-over-selling pressure for the altcoin in the market. Further, the EMA 50-day is on the verge of experiencing a bullish convergence in the AAVE price chart. This highlights that the altcoin may continue gaining value in the upcoming time. Will Aave Crypto Rise Back Up? If the bulls regain momentum, the AAVE coin price will reclaim its resistance level of $300. Further, if the bullish sentiment intensifies, this could push the price of this altcoin toward its upper resistance level of $350 this month. However, if the bears gain dominance, the price of AAVE could break below its important support zone. Moreover, if the bears maintain momentum, it could plunge toward its lower support level of $250 in the coming time. Considering stacking AAVE tokens before the altcoin season kickstarts? Read our AAVE Price Prediction ! FAQs Can AAVE reach $1,000? With a potential surge, the AAVE price could surpass the $1000 mark by the year 2029. What will AAVE be worth in 2025? If the bullish sentiment sustains, the Aave coin price could conclude the year 2025 with a potential high of $526. What is the price of AAVE today? With a 24-hour trading volume of $594.73 million, the AAVE crypto is valued at $296.14.