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South Korea’s parliamentary ethics subcommittee has voted down a motion to expel Kim Nam-kuk, a former member of the mai...
01/10/2023

South Korea’s parliamentary ethics subcommittee has voted down a motion to expel Kim Nam-kuk, a former member of the main opposition Democratic Party.

A parliamentary ethics subcommittee of South Korea has voted down a motion to expel Kim Nam-kuk, a former member of the main opposition Democratic Party (DP), the local news agency Yonhap reported on Aug. 30.

Kim Nam-kuk at a plenary session at the National Assembly in Seoul on Aug. 24, 2023. Source: Yonhap

U.Today - The Foundation just pulled the curtain back on its latest innovation: the , or EELS.EELS has been in the works...
01/10/2023

U.Today - The Foundation just pulled the curtain back on its latest innovation: the , or EELS.

EELS has been in the works for over a year and aims to replace the Yellow (OTC:YELLQ) Paper as the go-to guide for Ethereum's inner workings. But unlike its predecessor, EELS is not stuck in the past. It is fully up-to-date with all the latest forks and offers a user-friendly approach that is geared toward programmers.

What is EELS? It provides a complete snapshot of the protocol at every fork, including the ones still on the drawing board. This is a big deal because, until now, Ethereum Improvement Proposals (EIPs) have only ever suggested changes.

They have not given developers a full picture of how those changes fit into the existing framework. EELS solves this problem by offering a comprehensive, easy-to-follow guide that could become the new gold standard for Core EIPs.

The announcement of Patricia Token (PTK) by Nigerian crypto exchange Patricia was greeted by users with scepticism and s...
30/09/2023

The announcement of Patricia Token (PTK) by Nigerian crypto exchange Patricia was greeted by users with scepticism and some suspicion as they took to social media to question the motives behind the move. Now, in a response to that reaction, the crypto exchange company has released a white paper seeking to explain the intended function of Patricia Token.

According to the released white paper, Patricia Token is not a stablecoin but a debt token issued to customers to manage users’ debt. Patricia said it would operate similarly to an IOU (I owe you) document, serving as a means for the exchange to acknowledge its debt to its users and promising to pay holders 1 Tether (USDT) for each Patricia Token in the future.

U.Today - In a stunning turn of events, insiders appear to have gained a significant edge on the crypto markets, with da...
30/09/2023

U.Today - In a stunning turn of events, insiders appear to have gained a significant edge on the crypto markets, with data from revealing a remarkable accumulation surge within shark and whale wallets. This noteworthy uptick in accumulation occurred right before the breaking news of the landmark v. SEC ruling.

The timing could not have been more precise, as individuals behind wallets containing between 10 and 10,000 BTC amassed a staggering $388.3 million, equivalent to 14,596 BTC, in Bitcoin on the day leading up to the announcement. As a result, this accumulation craze was rewarded handsomely, with Bitcoin's price experiencing a 6% surge, reaching a two-week pinnacle of $28,142 per

Crypto.news - Bitcoin critic Peter Schiff warns that Grayscale’s recent legal victory in converting its GBTC to a spot B...
29/09/2023

Crypto.news - Bitcoin critic Peter Schiff warns that Grayscale’s recent legal victory in converting its GBTC to a spot Bitcoin ETF could be bearish for the cryptocurrency.

Schiff wrote in an Aug. 29 tweet, “GBTC becoming a spot ETF is actually bearish for Bitcoin.” He explained that traders can buy GBTC now and sell or short BTC. He added that once GBTC becomes an ETF, the discount to net asset value goes away.

The comment follows Grayscale Investments LLC securing judicial backing for initiating a Bitcoin spot ETF in the United States. Three federal judges annulled the SEC’s decision to prevent GBTC’s conversion to a spot Bitcoin ETF, allowing it to move forward instead.

Defunct crypto lending firm BlockFi has applied to a court to request the transfer of “trade-only” assets from its users...
29/09/2023

Defunct crypto lending firm BlockFi has applied to a court to request the transfer of “trade-only” assets from its users’ accounts into stablecoins so the individuals could withdraw them. The request marks another step toward the return of users’ funds, a process that the company began in August.

On Aug. 29, BlockFi filed an application to the United States Bankruptcy Court for the District of New Jersey to authorize the conversion of the so-called trade-only assets into stablecoins. The assets in question — Algorand’s native token, ALGO, Bitcoin Cash (B*H) and Dogecoin (DOGE) — cannot be withdrawn easily, and BlockFi suggests a one-time exchange for Gemini Dollar (GUSD) or another stablecoin.

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