Lightning Network faces criticism from pro-XRP lawyer John Deaton

Lawyer and cryptocurrency supporter John Deaton has criticized the Lightning Network, deeming it less effective than the “Spend The Bits” protocol on the XRP Ledger (XRPL). Lightning is a layer-2 scaling solution for Bitcoin. It is designed to improve the scalability and efficiency of Bitcoin (BTC) transactions by enabling off-chain, peer-to-peer transactions. In an Oct. … Read more

Crypto advocates file amicus brief to address users’ Fourth Amendment privacy rights

Cryptocurrency advocacy group DeFi Education Fund (DEF) has urged a United States court to consider the unique aspects of blockchain technology when evaluating the privacy rights of cryptocurrency users under the Fourth Amendment. DEF filed an amicus brief to the U.S. Court of Appeals (First Circuit) on Oct. 20, supporting James Harper’s appeal against the … Read more

Major Exploit Sees $6 Million In XRP Lost

Philippines-based crypto exchange is rumored to be the latest victim of an exploit that has potentially led to the loss of 12.2 million XRP ($6 million) for the firm. However, a part of these funds seem to have already been recovered.  Evidence Of The Alleged Exploit According to a report by The Block, the … Read more

NY sues crypto firms, FTX’s Nishad faces 75 years in jail, and Grayscale…

Top Stories This Week Grayscale files for new spot Bitcoin ETF on NYSE Arca Major cryptocurrency investment firm Grayscale Investments has filed a new application with the U.S. Securities and Exchange Commission for a new spot Bitcoin exchange-traded fund (ETF). The new filing aligns with Grayscale’s ongoing effort to convert its Grayscale Bitcoin Trust into … Read more

Bitcoin ETF Mania Sparks A Surge In Google Searches

The excitement surrounding the potential approval of a spot Bitcoin exchange-traded fund (ETF) located in the United States is developing, as evidenced by the spike in Google searches for this cutting-edge financial instrument. The increased interest from the general public and retail investors highlights the growing excitement about the possible early 2024 launch of a spot … Read more

Bitcoin core developer steps back from Lightning Network over “hard dilemma”

Security researcher and developer Antoine Riard is stepping down from the Lightning Network’s development, citing security issues and fundamental challenges to the Bitcoin ecosystem.  According to a thread on the Linux Foundation’s public mailing list, Riard believes the Bitcoin community faces a “hard dilemma” as a new class of replacement cycling attacks puts Lightning in … Read more