Community wants Arbitrum Foundation to return 700M ARB to DAO Treasury

A new proposal asks the Arbitrum Foundation to return 700 million ARB tokens after community backlash. Voting ends on April 14.

The Arbitrum community has initiated a new proposal requesting the Arbitrum Foundation to return 700 million ARB tokens to its DAO Treasury. The move comes after the Arbitrum Foundation transferred the funds without receiving…

https://cryptoinsight.ae/community-wants-arbitrum-foundation-to-return-700m-arb-to-dao-treasury/

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SushiSwap approval bug leads to $3.3M exploit

Only users who have traded on the decentralized exchange in the last four days are apparently affected.

A bug on a smart contract on the decentralized finance (DeFi) protocol SushiSwap led to over $3 million in losses in the early hours of April 9, according to several security reports on Twitter.

Blockchain security companies CertiK…

https://cryptoinsight.ae/sushiswap-approval-bug-leads-to-3-3m-exploit/

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Ethereum staking deposits dip due to regulatory pressure and Shapella upgrade

The amount of ETH being staked monthly has recently dipped according to the on-chain analytics platform Glassnode.

Ethereum staking deposits have declined slightly in recent weeks due to increased regulatory pressure and the Shapella upgrade slated for April 12.

On April 9, on-chain analytics provider Glassnode reported on the current state of the Ethereum staking…

https://cryptoinsight.ae/ethereum-staking-deposits-dip-due-to-regulatory-pressure-and-shapella-upgrade/

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Bitcoin hits $30K to mark highest price since June 2022

Bitcoin has hit $30,000 for the first time since last June and has set a new price high for 2023.

Bitcoin has hit price highs not seen since mid-2022 with the largest crypto by market cap touching $30,000 and setting a new high for 2023.

According to CoinGecko data, Bitcoin has slightly surpassed $30,000 and…

https://cryptoinsight.ae/bitcoin-hits-30k-to-mark-highest-price-since-june-2022/

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New tax rules could mean a US exodus for crypto companies

A change to R&D tax rules means that a tech company could lose more than $1 million — but still be on the hook for hundreds of thousands in taxes.

The new R&D law has overly broad language that states “any and all” software development must be amortized over five years if the development took…

https://cryptoinsight.ae/new-tax-rules-could-mean-a-us-exodus-for-crypto-companies/

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MetaMask launches new fiat purchase function for cryptocurrency

The new feature will allow users to purchase cryptocurrencies using various payment methods, such as debit or credit cards, PayPal, bank transfers and instant ACH.

Cryptocurrency wallet and decentralized application (DApp) provider MetaMask has announced the launch of a new feature that will allow users to purchase crypto with fiat currency directly from its Portfolio…

https://cryptoinsight.ae/metamask-launches-new-fiat-purchase-function-for-cryptocurrency/

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Utility and long-term profits top reasons for NFT purchases: CoinGecko study

People purchase NFTs for various reasons, but according to a new survey from CoinGecko, the majority buy them for utility and long-term profits.

Utility and long-term profits have been ranked as the top reasons for buying nonfungible tokens (NFTs), according to a survey conducted by CoinGecko and Blockchain Research Lab.

An April 10 CoinGecko report…

https://cryptoinsight.ae/utility-and-long-term-profits-top-reasons-for-nft-purchases-coingecko-study/

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Bitcoin continues to shine with 98% of inflows into crypto investment products

According to CoinShares, Bitcoin saw $56 million of inflows last week, which accounted for 98% of all investments into digital asset investment products.

On April 11, European cryptocurrency investment firm CoinShares published its latest “Digital Asset Fund Flows Report,” revealing that digital asset investment products experienced positive sentiment, with inflows totaling $57 million last week,…

https://cryptoinsight.ae/bitcoin-continues-to-shine-with-98-of-inflows-into-crypto-investment-products/

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US needs to regulate stablecoins to keep a strong dollar: Stellar CEO

The United States and the greenback will suffer if stablecoin regulations are not rolled out this year, Stellar Development Foundation’s chief has claimed.

United States financial regulators are tightening their grip on the crypto industry and the U.S. dollar has also been under pressure with countries distancing themselves from dollar hegemony, but the chief of…

https://cryptoinsight.ae/us-needs-to-regulate-stablecoins-to-keep-a-strong-dollar-stellar-ceo/

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Ethereum’s Shapella hard fork executed on mainnet

After months of delays, Ethereum validators can finally withdraw their staked Ether and rewards from the Ethereum mainnet.

The Shapella hard fork has officially been executed on the Ethereum mainnet — meaning that Ethereum validators can finally withdraw their staked Ether from the Beacon Chain.

The long-awaited upgrade took effect at 10:27 pm UTC on…

https://cryptoinsight.ae/ethereums-shapella-hard-fork-executed-on-mainnet/

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LayerZero’s multichain ecosystem grows as airdrop hunters ramp up their efforts

Applications built on LayerZero’s cross-chain messaging protocol are gathering momentum primarily due to excitement over a potential airdrop.

LayerZero is a communication method that facilitates cross-chain applications. Its low-level messaging capabilities enable the development of omni-chain functionalities on top of it, such as decentralized exchanges, money market protocols and numerous other DeFi applications that can…

https://cryptoinsight.ae/layerzeros-multichain-ecosystem-grows-as-airdrop-hunters-ramp-up-their-efforts/

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Less than 1% of staked ETH estimated to sell after Shanghai upgrade: Glassnode

The analytics firm backed up its prediction, stating only 253 validators have signed up to fully exit their staked Ether position.

An estimated 170,000 Ether of the total 18.1 million ETH staked on the Beacon Chain will be unlocked within the first week of the Shanghai hard fork being executed on Ethereum, Glassnode has predicted.…

https://cryptoinsight.ae/less-than-1-of-staked-eth-estimated-to-sell-after-shanghai-upgrade-glassnode/

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Hong Kong virtual bank to offer crypto conversions and accounts: Report

The account services for crypto firms come at a time when United States-based companies are struggling to find local banking partners and are frequently looking abroad.

ZA Bank, Hong Kong’s biggest virtual bank by assets, is reportedly set to provide crypto account services and facilitate crypto-to-fiat exchanges.

According to an April 12 Bloomberg report, the…

https://cryptoinsight.ae/hong-kong-virtual-bank-to-offer-crypto-conversions-and-accounts-report/

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Bitcoin’s dominance knocked by ETH’s post-Shapella rally

In the last 24 hours, Bitcoin’s percentage of the crypto market cap retreated by nearly 1% while Ether gained just over 1.1%.

Ether prices have topped the psychological $2,000 level following the Shapella upgrade this week and the result is a decline in Bitcoin market dominance.

According to data from the analysis site btctools.io Ether’s…

https://cryptoinsight.ae/bitcoins-dominance-knocked-by-eths-post-shapella-rally/

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Ethereum researcher says staking reveals IP address sparking privacy concerns

A researcher at the Ethereum Foundation said he had “internally” discovered that staking Ether reveals a user’s IP address information.

A researcher at the Ethereum Foundation (EF) revealed that the IP addresses of Ether stakers are monitored as part of a broader set of metadata, causing the cryptocurrency community to flag Ethereum for privacy concerns.…

https://cryptoinsight.ae/ethereum-researcher-says-staking-reveals-ip-address-sparking-privacy-concerns/

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