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Updated April 22, 2024

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According to Foresight News, the decentralized social media application, previously known as Lenster, now called Hey, has announced the launch of its new scoring system, the 'Hey Score'. The scoring system is driven by a super-secret algorithm. Users can earn scores through participation, interaction, and posting on the platform.

According to Foresight News, the U.S. Securities and Exchange Commission (SEC) has accused Caleb Joseph Ward and Jeremy George McNutt, co-founders of Bitcoin mining company Geosyn Mining, of defrauding approximately 64 investors of $5.6 million through service agreements sold as securities between November 2021 and December 2022.

The SEC alleges that Geosyn Mining's agreement to purchase and operate cryptocurrency mining machines on behalf of clients, for which it charged fees, falsely claimed to have signed a cheap energy contract with a power supplier. In reality, the costs were 40% to 50% higher than the rates communicated to clients. Furthermore, of the 1,400 mining machines that were supposed to be purchased under the service agreements, 400 were never bought. Additionally, most of the mining equipment that was purchased was never put into operation.

According to Foresight News, Merlin Chain has announced that an upgrade to its testnet is scheduled for today at 16:00. The upgrade process is expected to last several hours, during which the team will conduct a comprehensive test. The upgrade includes support for precompiled contracts SHA256, ecAdd, ecMul, and ecPairing, which will improve AA transactions. The upgrade also allows for multiple transactions within a single block, with each block having a timestamp.

According to Foresight News, the Uniswap Foundation is set to provide Auditless with a $1.2 million grant to support protocol innovation. Auditless will receive funding for at least one year and will assemble a team to achieve its objectives. With this grant, Auditless will initiate the Protocol Grants Program, aimed at creating value for all stakeholders by reducing execution costs and delays, improving the core user experience of the protocol, and exploring other opportunities.

In the future, Auditless will provide protocol hook funding for the launch of Uniswap v4 and will work closely with the funded teams to launch these hooks. They will also explore opportunities for future protocol extensions and improvements, including token issuance, routing, and lending. Additionally, Auditless will participate in business development, market marketing, and coordination with other Uniswap Foundation grant managers to establish plans that complement the launch of new protocols or support protocol infrastructure.

According to PANews, BNY Mellon, the oldest bank in the United States, has reported in its SEC filing documents that it holds Bitcoin ETFs from BlackRock and Grayscale. This move by BNY Mellon indicates a growing acceptance of cryptocurrency within traditional banking institutions. The details of the holdings, including the amount and value of the Bitcoin ETFs, were not disclosed in the report. This news comes as more financial institutions are beginning to embrace digital currencies, signaling a shift in the financial landscape. BNY Mellon's decision to hold Bitcoin ETFs from BlackRock and Grayscale could potentially influence other banks to follow suit, further integrating cryptocurrencies into the mainstream financial system.

According to Foresight News, Terraform Labs will restrict access for US users following a decision by the US Securities and Exchange Commission (SEC). The development is described as 'frustrating' by Terraform Labs, which 'principally opposes geographical blocking' but feels it has no choice but to comply. Additionally, the company will begin withdrawing $23.8 million worth of LUNA liquidity from the Astroport, Ura, and White Whale platforms on April 26.

In previous news from Foresight, the SEC had proposed a motion requiring Terraform Labs and its co-founder Do Kwon to pay approximately $4.7 billion in disgorgement and pre-judgment interest, as well as a total of $520 million in civil penalties. Furthermore, the SEC has issued a 'conduct-based prohibition' to prevent 'engaging in substantially similar conduct leading to large-scale fraud'.

According to Foresight News, Arbitrum has announced a partnership with HackQuest, a Web3 developer education platform. The collaboration aims to launch an Arbitrum Stylus learning course to assist developers in mastering the use of Arbitrum Stylus from scratch. Upon completion of the course, developers will receive a certificate jointly issued by Arbitrum and HackQuest.

In addition to the educational program, Arbitrum will support HackQuest in hosting a series of online and offline developer events worldwide. These events are part of an effort to build the Arbitrum developer ecosystem and a global Web3 developer network.

According to Foresight News, the Hong Kong Exchange (HKEX) is set to start trading Bitcoin and Ethereum spot Exchange Traded Funds (ETFs) managed by Harvest Fund Management. The trading is scheduled to commence on April 30th.

The market news indicates that this move by the HKEX is a significant step towards the mainstream acceptance of cryptocurrencies. The introduction of Bitcoin and Ethereum spot ETFs by Harvest Fund Management on the HKEX platform will provide investors with a new avenue to invest in these digital assets.

This development is expected to have a positive impact on the overall cryptocurrency market, as it could potentially attract more investors to the sector. However, it is important to note that the performance of these ETFs will be closely tied to the price movements of Bitcoin and Ethereum.

According to Foresight News, dYdX has released a report on the DYDX token. The report reveals that approximately 148 million DYDX tokens, which account for 14.8% of the total supply, have been staked to 60 active validators to ensure the security of the dYdX Chain.

The protocol has distributed over 20 million USDC to more than 18,991 dYdX Chain stakers. Furthermore, 75.2% of ethDYDX has been migrated to the dYdX Chain. The report provides insights into the current status of the DYDX token and its distribution among the dYdX Chain community.

According to Foresight News, Michael Blank, the Chief Operating Officer (COO) of Polygon Labs, is stepping down due to the company's executive layoffs. However, Blank will continue to support the company's blockchain-related products for the next few months. This follows a series of departures from Polygon Labs' leadership over the past year, including two co-founders, a former Chief Financial Officer (CFO), and a former president.

In March 2022, Polygon Labs hired Michael Blank as COO, Young Ko as CFO, and former Amazon executive Urvit Goel as Vice President of Game Business Development. The recent changes in the company's executive team are part of a broader trend of leadership shifts within the company.

According to Foresight News, the cryptocurrency W has shown a significant increase in its value. The intraday high for W reached 0.6733 USDT. The current price stands at 0.6169 USDT, marking a 13.61% increase in the last 24 hours. This surge in price indicates a positive trend for W in the cryptocurrency market.

According to BlockBeats, Jesse Pollak, the head of Base, announced on social media on April 26th that the total circulation of USDC has reached 33.36 billion. Of this, 2.46 billion USDC is on the Base network, which is second only to the Ethereum network with 23.85 billion.

The USDC, a stablecoin cryptocurrency, has seen a significant increase in its circulation, with the Base network holding a substantial portion. The Ethereum network, however, still holds the majority of the USDC circulation.

This information highlights the growing popularity and acceptance of USDC across various networks. As the circulation continues to increase, it will be interesting to see how this impacts the overall cryptocurrency market.

According to BlockBeats, on April 26, Farside Investors data indicated that BlackRock's IBIT experienced a situation where there was no net inflow or outflow. This is not the first time such an occurrence has been reported for IBIT. The lack of net movement suggests a balance between the number of investors buying into and selling out of the fund.

The data from Farside Investors provides a snapshot of the fund's performance on a specific day, but it does not necessarily indicate a long-term trend. It is important to note that the situation can change rapidly in the investment world, and a single day's data should not be used to predict future performance.

The IBIT fund, managed by BlackRock, is one of the many investment options available to investors. It is always recommended that investors consider a range of factors, including their own risk tolerance and investment goals, before making investment decisions.

According to PANews, the Hong Kong Stock Exchange recently announced the first batch of virtual asset spot ETFs that are set to be listed. The list includes Harvest Bitcoin Spot ETF (03439.HK), Harvest Ethereum Spot ETF (03179.HK), ChinaAMC Bitcoin ETF (03042.HK), and ChinaAMC Ethereum ETF (03046.HK). Huasheng Securities has been appointed as the underwriter for the first batch of virtual asset spot ETFs, opening up subscription channels for investors. Previously, Huasheng Securities had successfully participated in the issuance of two products, namely the Southern Fund Bitcoin Futures ETF (3066.HK) and the Southern Fund Ethereum Futures ETF (3068.HK).

According to PANews, a recent report published by Syncracy reveals that MakerDAO has dominated nearly 40% of the DeFi profits on Ethereum over the past six months. The data, derived from TokenTerminal, analyzed the top 25 projects on Ethereum for the past 180 days, up until March 12.

The report highlights the significant role MakerDAO has played in the Ethereum ecosystem, demonstrating its dominance in the DeFi sector. This analysis provides a clear picture of the distribution of profits within the Ethereum DeFi space, with MakerDAO leading the pack.

The findings underscore the growing influence of DeFi projects on the Ethereum platform, with MakerDAO setting the pace. The report serves as a testament to the increasing relevance and impact of DeFi in the broader cryptocurrency landscape.

According to Foresight News, Marathon Digital, a Nasdaq-listed mining company, has announced its goal to increase its hashrate to 50 EH/s by 2024. The decision comes as a result of recent acquisitions that have expanded the company's capacity. As per the Hashrate Index, Marathon Digital's current Bitcoin mining hashrate stands at 24.7 EH/s, while Core Scientific and Riot Platforms have hashrates of 16.9 EH/s and 12.4 EH/s respectively.

In previous news from Foresight News, Marathon Digital revealed that it had signed a final purchase agreement to acquire Applied Digital's Bitcoin mining data center for $87.3 million. The payment for the purchase will be made in cash from Marathon Digital's balance sheet.

According to PANews, ApeCoin has announced on platform X that the ApeChain testnet is about to go live. The details will be disclosed on Twitter Space early tomorrow morning.

In previous news from February, it was confirmed through a vote that ApeChain would adopt Arbitrum technology for the development of its exclusive blockchain. Arbitrum is a scalable, efficient, and flexible technology that is expected to enhance the performance of the ApeChain blockchain.

This announcement marks a significant step forward for ApeCoin, as the launch of the ApeChain testnet will allow for further testing and development before the full launch of the blockchain. The use of Arbitrum technology also indicates ApeCoin's commitment to utilizing advanced technology to improve its services.

Further details about the ApeChain testnet launch will be revealed tomorrow, providing more insight into the capabilities and potential of this new blockchain technology.

According to Foresight News, Paradigm has suggested that the Ethereum Virtual Machine (EVM) community should adopt 'gas per second' as a new standard for measuring network performance. This would be in addition to other dimensions of gas fee pricing to create a comprehensive performance standard. Typically, blockchain network performance is gauged by the 'transactions per second' metric. However, for Ethereum and other EVM blockchains, a more detailed and accurate standard would be 'gas per second'. This metric reflects the computational workload that the network can handle per second. 'Gas' is a unit that measures the computational workload required to execute transactions or smart contracts, and it also helps compare the performance of different EVM-compatible chains.

Currently, in the EVM network, the strongest performance is opBNB, which calculates at 100 million gas per second, while the weakest is the Ethereum mainnet at 1.25 million gas per second. Reth, created by Paradigm, has reached 100-200 million gas per second during real-time synchronization. Its short-term goal is to reach 1 gigagas per second, or 1 billion per second.

According to Foresight News, engineer Tamara has announced her resignation from Apple to focus on the development of derivative products for Ethereum's Blobspace. She stated that the purpose of these Blobspace derivatives is to hedge against the price fluctuations of Blobspace following the Ethereum Cancun upgrade.

Similar to commodity futures trading, the establishment of a derivatives market for Blob Gas fees creates strategic trading opportunities. This is done by allowing Rollups to pay a premium to reduce the risk of their operational costs. This move by Tamara signifies a shift in her career towards the burgeoning field of cryptocurrency and blockchain technology.