Author: Kryptonews

Michael Saylor, the executive chair of major Bitcoin-buying firm Strategy, formerly MicroStrategy, says institutions posting onchain proof-of-reserves is a “bad idea” that could pose security risks.“The current, conventional way to publish proof of reserves is an insecure proof of reserves,” Saylor said when asked about institutions adopting the transparency measure at a May 26 event on the sidelines of the Bitcoin 2025 conference in Las Vegas.“It actually dilutes the security of the issuer, the custodians, the exchanges and the investors. It’s not a good idea, it’s a bad idea.”Saylor didn’t answer whether Strategy would publish its proof-of-reserves when asked by…

Key Takeaways: Synthetix and Derive mutually withdrew a $27M token swap deal after community pushback. Derive users criticized the proposed valuation and raised concerns over token dilution for SNX holders. Both projects will continue independently, with Synthetix exploring alternatives for Perps V4 and Derive focusing on its own roadmap. Synthetix and Derive have officially shelved a proposed $27 million acquisition deal that would have seen the two decentralized derivatives platforms merge under a token swap agreement.Originally introduced in mid-May, the proposal involved Synthetix acquiring Derive’s treasury, technology, and full product suite.The move was intended to consolidate efforts into a single…

Key Takeaways:Bitcoin (BTC) has jumped to $110,000, a big recovery from last week’s drop.Market confidence is back as institutional investors put more money into ETFs, which is said to have reached $500 million in a week.Altcoins like Ethereum and Solana are rising quickly, and trading volumes and on-chain activity are both speeding up.The Bitcoin market is getting hot again after a crazy weekend. Bitcoin just hit the $110K mark again, which gave traders and institutions new energy and hope. What’s causing this big rise, and which altcoins are going along for the ride?Read More: Bitcoin Soars To $105K, Triggers A…

Current artificial intelligence models lack the major traits of human intelligence, Meta’s AI chief has reportedly said, claiming that the firm’s latest model will solve this issue. Business Insider reported on May 26 that at the AI Action Summit in Paris earlier this year, Meta chief AI scientist Yann LeCun said that “there are four essential characteristics of intelligent behavior that every animal, or relatively smart animal, can do, and certainly humans.” “Understanding the physical world, having persistent memory, being able to reason and being able to plan complex actions, particularly planning hierarchically,” LeCun said.He said current large language models (LLMs) that…

The Vision of a Secure Web The internet as we know it is riddled with security risks. Data breaches, cyberattacks, and privacy violations are now commonplace, forcing users and businesses to rely on centralized security measures that often fail. But what if there was a way to make the internet virtually unhackable? This is the bold promise of blockchain technology—a decentralized, immutable ledger that could revolutionize how we secure and interact online. How Blockchain Makes the Internet Safer Traditional cybersecurity relies on trust in intermediaries—like banks, tech companies, and governments. Blockchain, however, operates on a trustless system where transactions and…

Fantasy Top is a SocialFi Trading Card Game that’s built around crypto Twitter. It has lots and lots of hype right now, and you probably heard about it already. It has a pretty big trading volume (~7,800+ ETH), and it’s doing more daily revenue than Solana. Let’s take a look at why Fantasy Top became so popular recently. It would be a good case study both for other projects looking for buzz and hype and for users to understand the mechanics behind the project and its marketing strategy. And by the way — if you run a crypto project and…

Introduction to the Problem: High Credit Card Fees Credit card fees are a pervasive and costly burden on consumers and businesses alike. Merchants typically pay interchange fees (ranging from 1-3% per transaction), assessment fees, and cross-border fees—costs often passed down to customers. These fees not only cut into profits but also contribute to inflationary pressures in the economy. The quest for lower, fairer payment systems has led innovators to explore blockchain technology as a potential solution. How Blockchain Lowers Payment Costs Blockchain technology, the decentralized ledger system behind cryptocurrencies like Bitcoin and Ethereum, enables peer-to-peer transactions without intermediaries. Unlike traditional…

India’s cryptocurrency industry is stepping up its campaign to seek tax relief from the government.  The sector urges the government to reconsider its current taxation policies, which stakeholders have deemed burdensome. Despite a more favorable governmental outlook and increasing international momentum, particularly influenced by Donald Trump’s pro-crypto stance after his return to the US presidency, the industry continues to face significant challenges. Since 2022, the 30% capital gains tax and 1% TDS (Tax Deducted at Source) on all transactions in digital assets have created an unfriendly environment for Indian traders. A think tank Esya Centre report estimates that almost 90%…

The Paris-based crypto company Blockchain Group is adding more Bitcoin to its growing treasury through a 63.3 million euro ($72 million) bond sale.The company hopes to buy another 590 Bitcoin (BTC) with the funds, increasing its total holdings to 1,437 BTC, the Blockchain Group said on May 26.Bitcoin is trading at over $109,00, and at current prices, the Blockchain Group could buy 658 BTC with the total amount it raised, according to CoinGecko.However, the company said only 95% of the proceeds from the issuance will be used to buy Bitcoin; the remainder is marked for “operational expenses and to pay…

Bitlayer, a Bitcoin Layer 2 built on the BitVM paradigm, has partnered with three of the world’s largest bitcoin mining pools — Antpool, F2Pool, and SpiderPool — in a first-of-its-kind collaboration to accelerate the real-world adoption of BitVM, a breakthrough technology focused on enabling Bitcoin-native DeFi.Bitcoin’s ecosystem has lagged behind other Layer 1s like Ethereum for years due to technical limitations — especially its lack of support for Turing-complete smart contracts. Bitlayer’s BitVM paradigm addresses this by offering Bitcoin-equivalent security and Turing completeness without altering Bitcoin’s core protocol or compromising its foundational design.But turning that vision into reality requires the…