DeFI News by Thebittimes.Com

With the asset class becoming a key political issue for the first time ever, Bitcoin as a strategic reserve asset could be a key route to economic stability, according to one report. Indeed, the Bitcoin Policy Institute (BPI) has discussed how the United States could harness the leading cryptocurrency to form a path to economic resilience. Amid rising federal debt, the US economic outlook has not been a great one. Moreover, the 2024 presidential election appears critical to correcting course but lacks the proposed policy to affect change. However, the presence of Bitcoin could be one viable way to “monetary stability,” the report notes. Also Read: Michigan Pension Fund Discloses $6.9M Investment in Bitcoin ETF Bitcoin as a US Strategic Reserve Asset Presents ‘Unique Opportunities’ The cryptocurrency sector has evolved to become a key aspect of global finance. There is no denying that the asset class has grown in prominence. Throughout the year, it has become embr...

A concerning percentage of Ethereum’s blockchain censors participation according to US sanctions. Data compiled by Labrys and Rated Network suggests that approximately 42% of blocks since Ethereum’s September 15, 2022 Merge from proof-of-work to proof-of-stake have sanctioned the wallets on the Specially Designated Nationals List. Earlier this week, the figure reached nearly 50%. The Office of Foreign Assets Control (OFAC), an enforcement agency of the US Treasury Department, maintains this list. Unlike permissionless crypto networks like Bitcoin which allow any user to broadcast any transaction for inclusion in an upcoming block, OFAC-compliant relays on Ethereum censor wallet addresses that appear on US sanctions lists.  The widely popular software Maximum Extractable Value Boost (‘MEV-Boost’) censor s these wallets by default and many relays US e its default settings. Mev-Boost also outsources validators’ block production to a third-party marketplace operated by itself , ma...

Forty countries participating in the Counter Ransomware Initiative have agreed to stop paying ransoms demanded by cybercriminals, according to a senior White House official on Tuesday. Led by the US , the Counter Ransomware Initiative is an alliance launched in 2021 that now includes 48 nations, including Canada, A US tralia, Germany, South Korea, Japan, the UK, Kenya, Uruguay, Israel, and Ukraine. This year’s meet, hosted in the White House, has solidified a plan to counter the concerning increase in cyberattacks. The US is apparently the target of 46% of all ransomware attacks, according to the US deputy national security adviser for cyber and emerging technologies, Anne Neuberger. “As long as there is money flowing to ransomware criminals, this is a problem that will continue to grow,” she told reporters in a virtual briefing. Neuberger cited the recent cyberattack on cleaning product giant Clorox and attacks on Minneapolis public schools while describing the ...