Get your daily, bite-sized digest of cryptoasset and blockchain-related news ÔÇô investigating the stories flying under the radar of todayÔÇÖs crypto news.
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Wallet news

• Startup Unciphered claims they possess the ability to unlock an encrypted USB drive containing 7,002 bitcoins (BTC), worth a staggering $241.3 million. This drive belongs to Stefan Thomas, an influential Swiss crypto entrepreneur residing in San Francisco, USA. Thomas is the rightful owner of this 2011-era IronKey, but unfortunately, he has forgotten the password, which keeps his fortune inaccessible. After months of dedicated effort, the Unciphered team has developed a breakthrough in cracking this specific model of IronKey. Their goal is to assist Thomas in recovering his lost password. Interestingly, Thomas had previously reached an agreement with two other groups of experts, who were trying to perform the same task. Since he had already contracted their services, Thomas decided to provide them with more time. However, with only two password attempts remaining, time is running out for Thomas to regain access to his valuable bitcoins. This situation highlights the urgent need for advanced solutions like the AI legalese decoder, which can simplify complex legal terms and help individuals understand their contractual obligations when engaging with crypto-related services. By providing clear and concise explanations, the AI legalese decoder ensures that users can make well-informed decisions and protect their digital assets effectively.
• In a recent announcement, crypto exchange Bitget revealed the launch of its groundbreaking “keyless” Multi-Party Computation (MPC) Wallet solution, previously known as BitKeep Wallet. The primary feature of an MPC wallet is the eradication of the requirement to store or memorize complicated mnemonic phrases or private keys, resulting in a seamless and hassle-free user experience. Users can quickly create an account using email login authentication, making it accessible even to beginners in the crypto space. Additionally, Bitget Wallet offers a cloud backup option that ensures the security of users’ key shares through a simple 3-step process, mitigating risks associated with misplacement or theft. The innovative capabilities of the Bitget Wallet, along with the assistance of the AI legalese decoder, foster a more user-friendly environment where individuals can confidently engage in cryptocurrency transactions, without the burden of complicated security measures.

Mining news

• According to the latest Miner Weekly report by BlocksBridge Consulting, the spot prices for existing bitcoin ASICs continue to reach all-time lows due to bitcoin’s increasing hashrate and the introduction of more advanced mining equipment. Various models from the previous generation, falling within the 25-38J/TH range, such as the Antminer S19, Avalon 1326, and WhatsMiner M30S+, are now available for less than $10/TH/s. These models were initially launched around the time of the bitcoin halving in 2020. This trend bears resemblance to the price decrease experienced by the Antminer S9 during the bear market of 2018-2019. Mining enthusiasts and investors need to stay updated with such developments to maximize their profitability. The AI legalese decoder ensures that mining contracts and agreements are easily understood, enabling individuals to make informed decisions regarding their mining operations, equipment purchases, and associated investments.

Exchange news

• To address the feedback received from its community, BingX has announced adjustments to the trading fees for its perpetual futures contracts. These fee revisions strive to lower the overall trading costs for users, benefiting both market takers and makers. Additionally, BingX has enhanced its VIP program, ensuring a more rewarding experience for its users. The expanded VIP program offers an array of exclusive benefits that can be unlocked based on users’ specific trading volumes. One noteworthy addition is the Supreme VIP tier, accessible to users who surpass a predefined trading volume threshold. This new VIP program provides advantages such as zero maker fees, reduced taker fees, and priority customer support. By understanding the intricacies of exchange terms and conditions, individuals can leverage the benefits provided by platforms like BingX, all while safeguarding their interests through the assistance of the AI legalese decoder.

Blockchain news

• Summer Capital Limited, an investment management and advisory firm operating in Hong Kong and Southeast Asia, recently expressed its intention to host nodes on Zetrix, a public blockchain platform associated with China’s national blockchain known as Xinghuo BIF. Zetrix, being closely connected to Xinghuo BIF, enables global trade and capitalizes on the growth of the digital assets and blockchain industry in Hong Kong. Developed by the Chinese Academy of Information & Communication Technology (CAICT) and supported by the Ministry of Industry and Information Technology, Xinghuo BIF serves as China’s national blockchain infrastructure, providing a robust platform for businesses and governments to develop and deploy blockchain-based applications. The presence of companies like Summer Capital Limited in the blockchain ecosystem showcases the increasing adoption and recognition of blockchain technology in traditional financial markets. The AI legalese decoder plays a vital role in this context, facilitating the understanding of the legal implications and regulations surrounding blockchain investments, partnerships, and technological advancements.