Connect with us


AVAX and Near Attract New Investors As They Outshine Bitcoin, Ethereum



Charles Hoskinson, co-founder of Ethereum and founder of Cardano, responded to the controversial revelations made by former ETH insider Steven Nerayoff. The latter yesterday released private conversations with Ethereum’s founder Vitalik Buterin and a “Rescue & Restructure Plan” for Ethereum dating back to 2015.

In his X post, Nerayoff stated, “The recording isn’t directly related to the fraud but will illuminate a lot of what was really happening & show my involvement. The fraud will be in the lawsuit.” 

Hoskinson, in a 22-minute video, addressed these revelations and reflected on his own experiences and contributions within the Ethereum ecosystem.

Cardano Founder Responds To Nerayoff

Hoskinson noted his long-standing acquaintance with Nerayoff, stating, “I know Nerayoff for a long time”. He mentioned that Nerayoff was introduced to him by a mutual friend, John Mohan. Recounting their history, Hoskinson shared that their first meeting occurred in 2013, and since then, they have had intermittent conversations.

Reflecting on the early days of Ethereum, the Cardano founder credited Nerayoff with significant contributions, saying, “He came into the Ethereum project and provided a lot of assistance in the early days of the structuring of the Ethereum crowd sale” while he was pushed out of Ethereum. He added that after his departure, “Steven stayed on after I got pushed out of Ethereum, and he provided a lot of advice about business strategy and how to structure Ethereum.”

Hoskinson then addressed the purpose of his video, drawing attention to the Nerayoff document that heavily references him: “Now, the reason I’m making this video is that he made a big deal and talked about this Ethereum Rescue and Restructure plan […] my name is mentioned 69 times.”

Commenting on his experiences, he said, “Now, what’s always interesting about my participation in the Ethereum ecosystem is that a history has been written where three great lies have been told.” These include allegations of his deceitful behavior, claims of non-contribution to the crypto space, and assertions that he overstated his role in Ethereum.

Hoskinson defended his track record, citing the development and success of Cardano and the absence of any legal issues or scandals associated with his work. He also commented on Ethereum’s technical developments, drawing parallels with his own work on Cardano.

Read Also: Cardano Founder Seeks Collaboration With Kraken To Develop The L2 Network

He mentioned, “You see Vitalik recently talking about the merits of extended to UTXO, and in plasma, kind of sounds a little bit like Hydra, doesn’t it?”

He added:

And that’s that. I don’t really know what Steven’s end goal or aims are, obviously, he’s got an agenda, and he’s going to go and pursue that, and Ripple Community is, of course, mad as hell at the whole free pass stuff.

Regarding his departure from Ethereum in June 2014, Hoskinson expressed hope for interoperability and collaboration within the crypto space despite past conflicts. He reflected on the personal toll of the long-standing disputes, stating, “From basically the very beginning, every dimension of me has been attacked…and that does have a psychological impact.”

Hoskinson Shares Advice With Nerayoff

Addressing Nerayoff’s disclosures, Hoskinson urged caution in interpreting these revelations. He highlighted the complexity of the situation and cautioned against making hasty judgments based on partial information. The Cardano founder advised, “Just don’t believe anything because somebody wrote a book or somebody released a transcript that you now know everything and it’s all there.”

Drawing from his own challenging experiences post-Ethereum, he spoke about the importance of reconciliation and moving forward. Hoskinson concluded his remarks with a note of optimism and a call for unity in the crypto community.

He wished Nerayoff well in his search for truth and added, “For everyone’s sake, sometimes it’s good to turn the page and let it go. Anyway, I wish Steven well and his quest for truth, whatever this means to him.”

At press time, ADA traded at $0.362.

ADA Price Chart | Source: Coinstats

Source link

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *


Cryptocurrency Market Update: Bitcoin Slips Below $70,000 Amidst High Liquidation




In a swift turn of events, Bitcoin (BTC), the pioneering cryptocurrency, dropped below the $70,000 threshold early on Wednesday following a wave of investor sell-offs. Just a day prior, Bitcoin had crossed the $71,000 mark, but market sentiment swiftly shifted, dragging other major altcoins—including Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), Solana (SOL), and Litecoin (LTC)—into the red zone.

According to CoinMarketCap data, the overall Market Fear & Greed Index stood at 75 (Greed) out of 100, indicating a mix of optimism and apprehension among traders. Notably, the Bittensor (TAO) token emerged as the top gainer with a remarkable 24-hour surge of over 7 percent, while dogwifhat (WIF) experienced the largest loss, plummeting nearly 16 percent.

Bitcoin (BTC) Price Update Bitcoin’s price tumbled to $69,089.01, marking a 24-hour dip of 3.05 percent, as reported by CoinMarketCap. On the Indian exchange WazirX, BTC was priced at Rs 60.93 lakh.

Other Major Cryptocurrencies Ethereum (ETH) saw a 24-hour loss of 4.81 percent, trading at $3,508.86, while Dogecoin (DOGE) registered a dip of 5.59 percent, currently priced at $0.1879. Litecoin (LTC) and Ripple (XRP) also experienced losses, with Solana (SOL) marking a 24-hour loss of 3.44 percent.

Top Gainers and Losers Bittensor (TAO) led the pack of gainers with a 7.30 percent surge, while dogwifhat (WIF) suffered the most significant loss, dropping by 15.58 percent.

Market Analysis and Expert Insights Experts weighed in on the market scenario, attributing Bitcoin’s downturn to heightened liquidations and cautious sentiment ahead of the upcoming US CPI data release. While Bitcoin’s immediate support rests at $67,700, resistance is expected at $70,400. Ethereum proponents face challenges amid hopes for an ETF approval, with the SEC providing limited updates on the matter.

Final Thoughts The cryptocurrency market remains highly dynamic, with prices fluctuating rapidly and investor sentiment playing a pivotal role. As the market navigates through volatility, it’s essential for investors to stay informed, exercise caution, and seek expert advice before making any investment decisions.

Continue Reading


Cryptocurrency: A Scapegoat for Foreign Policy Failures?




Cryptocurrency has once again found itself at the center of a heated debate, this time regarding its alleged role in facilitating illicit activities and circumventing sanctions imposed by the United States. The Biden administration, in particular, has come under scrutiny for its handling of the issue, with some accusing it of using digital assets as a convenient scapegoat for broader foreign policy shortcomings.

In a recent hearing before the Senate Banking Committee, Deputy Treasury Secretary Wally Adeyemo raised concerns about the misuse of cryptocurrencies by foreign adversaries such as Iran, Russia, North Korea, and militant groups like Hamas. Adeyemo’s remarks underscored a growing unease within the U.S. government regarding the potential national security implications of unregulated digital currencies.

However, voices from within the cryptocurrency industry and Congress have pushed back against the administration’s narrative. Faryar Shirzad, Chief Policy Officer at Coinbase, one of the leading cryptocurrency exchanges, pointed out that the prevalence of illicit activity in the crypto space is relatively low compared to traditional finance. Instead of demonizing cryptocurrencies, Shirzad argued, the focus should be on targeting bad actors operating offshore.

Senator Tim Scott, the ranking Republican on the Senate Banking Committee, echoed these sentiments, accusing the Biden administration of using digital assets as a distraction from its failure to effectively combat financial flows to sanctioned entities. Scott’s criticism reflects broader skepticism among some lawmakers about the government’s approach to regulating cryptocurrencies.

One area of potential agreement between the Biden administration and the cryptocurrency industry is the need for clearer regulations governing stablecoins, a type of digital asset pegged to a fiat currency like the U.S. dollar. Both sides recognize the importance of addressing the potential risks associated with stablecoin issuance and usage, particularly in the context of national security and financial stability.

The debate over stablecoins has intensified following reports of their alleged role in facilitating illicit transactions, including those linked to Russia’s war effort in Ukraine. The Treasury Department has called for increased oversight of stablecoin issuers and transactions, while also advocating for legislation that would subject them to stricter regulatory standards.

Despite the contentious nature of the discussion, there are signs of bipartisan cooperation on certain aspects of cryptocurrency regulation. A bipartisan bill addressing stablecoin regulation passed the House Financial Services Committee last year, signaling a potential path forward for legislative action in this area.

As the debate over cryptocurrency regulation continues to unfold, it is clear that finding the right balance between innovation and security will be paramount. While concerns about illicit activity and national security must be addressed, policymakers must also recognize the potential benefits of cryptocurrencies in fostering financial inclusion and technological advancement.

Ultimately, the resolution of these issues will require thoughtful collaboration between government officials, industry stakeholders, and lawmakers to develop a regulatory framework that promotes innovation while safeguarding against misuse. Only through constructive dialogue and cooperation can we ensure that cryptocurrencies fulfill their potential as a force for positive change in the global economy.

Continue Reading


Bitcoin Resurgence: Why Wall Street Is Embracing the Crypto Revolution




Andrew Pratt of Wiser Wealth Management in Marietta, Ga., finds little resistance as he proposes Bitcoin investments to his firm’s committee. With Bitcoin surging 140% in the past year and backed by giants like BlackRock, skepticism has waned. Pratt sees the potential to allocate a modest 1% of client portfolios to Bitcoin, acknowledging the limited downside risk compared to potential gains.

The debate over Bitcoin’s intrinsic value seems to have lost its relevance amidst its soaring market performance. Once dismissed, Bitcoin now boasts a market value of $1.3 trillion, driving the total crypto market to $2.5 trillion. Wall Street, once wary, now views cryptocurrency as an opportunity for profit rather than a speculative venture.

Despite lingering doubts about Bitcoin’s utility beyond speculation, Wall Street executives are increasingly supportive. BlackRock’s CEO, Larry Fink, notably reversed his stance, endorsing Bitcoin’s long-term prospects and championing the iShares Bitcoin Trust, now one of the largest Bitcoin ETFs with nearly $18 billion in assets.

While skepticism persists about Bitcoin’s status as a real asset or currency, its growing acceptance on Wall Street underscores the evolving landscape of finance. As institutions embrace cryptocurrencies, Bitcoin’s journey from pariah to portfolio asset highlights the transformative power of digital assets in reshaping traditional investment strategies.

Continue Reading


Copyright © 2017 Zox News Theme. Theme by MVP Themes, powered by WordPress.