Author: Kryptonews

It’s fair to say the NFT space has lost a lot of its sparkle over the past few years, but that hasn’t stopped some founders, investors and projects from trucking along in hopes of another surge. Devin Finzer, the CEO behind OpenSea, one of the first NFT marketplaces to gain serious traction and market share, is still betting big on the sector. On January 1, 2022, NFT global sales volume peaked at $23.73 billion. Two years later, by the first day of 2024, they had fallen 94% to a mere $1.4 billion. That kind of decline in sales volume obviously…

Key NotesHong Kong-based Top Win International is rebranding to AsiaStrategy and entering the crypto space.The company has partnered with Sora Ventures to implement a Bitcoin-focused treasury strategy across Asia.AsiaStrategy mirrors the trend of firms like MicroStrategy and Metaplanet in adopting cryptocurrencies. In a bold move that echoes recent corporate pivots like MicroStrategy’s transformation into “Strategy,” Hong Kong-based Top Win International Limited has announced its rebranding to AsiaStrategy, adopting digital assets. Once a traditional watchmaker, the Nasdaq-listed company is shedding its legacy-only business model to become a hybrid Web3 player, focusing on digital asset investments and treasury management across Asia. A…

In brief The South Korean woman transferred $488,000, approximately 683 million won, in crypto and took $1,430, or 2 million won, in cash while her boyfriend slept. Despite her claims of partial repayment, the Jeju court sentenced her to two years due to prior fraud convictions. The case follows a string of crypto-related crimes in Jeju and abroad, including murder and multimillion-dollar thefts. A South Korean woman in her 40s has been sentenced to two years in prison for transferring $500,000 worth of crypto and cash from her boyfriend’s accounts while he was asleep.The woman in her 40s, identified only…

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure Ethereum’s nonprofit arm rolled out a major security drive on May 14. It aims to shore up wallets, smart contracts, and the network itself. The move comes as more money flows onto the blockchain, with a plan big enough to protect “trillions” in digital assets. Initiative Scope And Goals According to the Foundation, the effort is called the Trillion Dollar Security Initiative. It has three steps. First, the team will scan everything from wallet design to consensus rules. They’ll hunt for weak spots in code and in…

Tens of thousands of NFTs that were once deemed the newest rage in tech and dragged in celebrities, artists and even Melania Trump have now been declared virtually worthless.According to a new report by dappGambl that reviewed data from NFT Scan and CoinMarketCap, 69,795 out of 73,257 NFT collections have a market cap of 0 Ether, leaving 95% of those holding NFT collections – or 23 million people – with worthless investments.NFTs, or non-fungible tokens, are a form of crypto asset that is used to certify ownership and authenticity of a digital file including an image, video or text.The report…

The Shift to Decentralization The internet has evolved through several phases, from a centralized model dominated by large corporations to the rise of Web2, where user-generated content and social media platforms became the norm. Now, a new revolution is unfolding: Web3, powered by blockchain technology, is promising to redefine how we interact online by shifting control back to users. Decentralization is no longer just a buzzword; it’s a fundamental reshaping of digital infrastructure, economics, and social governance. The Problem with Centralization Centralized systems—run by governments, corporations, and institutions—have given us efficiency but at the cost of transparency and control. Data…

The US Senate is preparing to vote next week on a revised version of the GENIUS Act, a stablecoin-focused bill that has been updated to address concerns raised by Democratic lawmakers.Last week, the bill stalled after several Democratic lawmakers withdrew support, citing gaps in anti-money laundering provisions, weak oversight for foreign stablecoin issuers, and a lack of enforcement tools.In response, the bill’s sponsors have introduced key amendments to tighten regulatory controls and reinforce national security protections.Key changes introduced into the GENIUS ActAccording to available information, the updated bill strengthens clauses around financial integrity, consumer protection, and ethical standards.It also introduces…

Ethereum’s recent Pectra upgrade is sparking a surge in smart account usage, redefining how users interact with the network.Data compiled by Base analyst 0xKofi from Bundle Bear shows that more than 26,000 wallets have transitioned to the new smart account format powered by the EIP-7702 in the Pectra upgrade.What are smart accounts?EIP-7702 is a new standard that lets regular Ethereum wallets operate like smart contracts, without losing their original address or flexibility.Traditionally, Ethereum wallets fell into two categories: Externally Owned Accounts (EOAs), which could send transactions but lacked programmability, and Smart Contracts addresses that could automate tasks but couldn’t initiate…

Bitcoin, while revolutionary in its inception, has faced scalability challenges. The base layer, or main blockchain, can only process a limited number of transactions per second, leading to slow confirmation times and high transaction fees, especially during periods of high network activity. Thankfully, innovation in the Bitcoin space has yielded a potential solution: the Lightning Network. What is the Lightning Network? The Lightning Network is a "layer-two" scaling solution built on top of the Bitcoin blockchain. Think of the Bitcoin blockchain as a highway. During rush hour, it gets congested, and everyone moves slowly. The Lightning Network creates side roads…

Blockchain Basics: A Simple Explanation Blockchain is a digital ledger that records transactions across a network of computers in a secure and transparent way. Unlike traditional databases, which are often controlled by a single entity, blockchain is decentralized—meaning no single party owns or controls it. Instead, data is spread across many users (or "nodes") in the network. How Blockchain Works in 6 Key Steps Transactions OccurUsers send transactions (e.g., payments, data exchanges) to the network. These transactions are bundled into groups called "blocks." Blocks Are Added ChronologicallyEach new block is added sequentially to previous blocks, forming a chain (hence "blockchain").…