Author: dfmines

What is the Q-Day prize? The Q-Day Prize is a challenge to make the Bitcoin network quantum resistant.On April 16, 2025, quantum computing-focused company Project 11 announced the “Q-Day Prize,” a competition to break a “toy version” of Bitcoin’s cryptography with a quantum computer. Contestants must complete the Q-Day Prize challenge by April 5, 2026.Their reward? 1 Bitcoin (BTC).The “Q” in Q-Day refers to quantum computing, the potential threat to many existing cryptographic security measures. But can quantum computers break Bitcoin? Let’s find out.Quantum computing and the threat to BitcoinBitcoin utilizes the SHA-256 hashing algorithm, a National Security Agency (NSA)-developed encryption algorithm. SHA-256 prevents brute force attacks against the Bitcoin network, as decrypting it with current hardware can take decades. However, the emerging threat to SHA-256 is quantum computing, a method of computing that harnesses quantum physics and is much faster than traditional computing.At a fundamental level, quantum computing utilizes quantum bits (qubits), which can exist in multiple states. This contradicts binary (traditional) computing, which uses binary bits (1s and 0s). In 1994, mathematician Peter Shor presented an algorithm for quantum computers to solve complex algorithms in seconds, rather than the decades it can take for conventional hardware. At the time, no hardware could effectively run it, but recent advances like Google Willow are nearing that capability.Quantum computing, when paired with Shor’s algorithm, can disrupt Bitcoin cryptographic systems as we know them. Shor’s algorithm allows quantum computers to solve complex math super fast, potentially threatening Bitcoin’s safety.Did you know? If quantum tech gets strong enough, Bitcoin’s current security could become obsolete, so developers are racing to create “quantum-proof” shields using new math that even Shor’s algorithm can’t break. Quantum threat to Bitcoin: How real is the danger? Bitcoin is vulnerable to quantum computing, but how serious is the risk?When you create a crypto wallet, it generates two important things: a private key and a public key. The private key is a secret code, like a password, that you must keep safe. The public key is created from your private key, and your wallet address (like a bank account number) is made from the public key.You share your wallet address with others so they can send you cryptocurrency, just like you share your email address for someone to contact you. However, you never share your private key. It’s like the password to your email — only you need it to access and spend the money in your wallet.Your private key is like a master password that controls your crypto wallet. From this private key, your wallet can create many public keys, and each public key generates a wallet address. For example, if you use a hardware wallet, it has one private key but can create unlimited public keys (wallet addresses). This means you can have different addresses for each cryptocurrency supported by the wallet or even multiple addresses for the same cryptocurrency, all managed by a single private key.While generating a public key from a private key is straightforward, figuring out a private key from a public key is extremely hard — almost impossible — which keeps your wallet secure. Every time you send cryptocurrency, your private key creates a special code called a signature. This signature proves you own the funds and want to send them. The system that uses your private key, public key and signature to secure transactions is called the Elliptic Curve Digital Signature Algorithm (ECDSA).It is believed that quantum computing could reverse the process and generate private keys out of public ones. It is feared that this could cause many Bitcoin holders (especially whales and Satoshi-era wallets) to lose their funds. Bitcoin address types and quantum risksWhen you send Bitcoin, you use a specific address type to direct the payment. Each address type has unique features, affecting security, privacy and vulnerability to quantum computing attacks like Shor’s algorithm.P2PK address typesWhen you pay someone with Bitcoin, the transaction is typically considered a “pay-to-public-key” (P2PK). This was the most common payment method in 2009, according to a report from consulting firm Deloitte. Much of the original Bitcoin released at the network’s launch is held in wallets with the P2PK address type, primarily due to the fact that they’ve sent transactions since Bitcoin’s 2009 launch. These addresses are long (up to 130 characters), making them less user-friendly.Wallets with the P2PK address type are most susceptible to Shor’s algorithm, as it can brute force the private key from a P2PK wallet address. P2PKH address typesThere’s a second address type that’s more resistant to Shor’s algorithm: the pay-to-public-key-hash (P2PKH). P2PKH addresses are shorter and are generated from the hash (a unique, hexadecimal value) of a public key created using SHA-256 and RIPEMD-160 algorithms instead of displaying the full key itself.These addresses are shorter (33-34 characters), start with “1,” and are encoded in Base58 format. Such addresses are widely used and include a checksum to prevent typos, making them more reliable.P2PKH addresses are more resistant to Shor’s algorithm than P2PK because the public key is hashed. The public key is only revealed when you spend from the address (not when receiving). If a P2PKH address never sends Bitcoin, its public key stays hidden, offering better protection against quantum attacks. However, reusing a P2PKH address (sending from it multiple times) exposes the public key, increasing vulnerability. Also, when you spend from a P2PKH address, the public key becomes visible on the blockchain, making transactions trackable.Taproot addressesTaproot is the newest address type, introduced in November 2021 via the Taproot soft fork. It uses Schnorr signatures instead of the ECDSA signatures used by P2PK and P2PKH. These addresses start with “bc1p,” use Bech32m encoding, and are 62 characters long.They offer better privacy. Multisignature (multisig) transactions look like single-signature ones, hiding complex spending conditions. However, Taproot addresses expose the public key (or a tweaked version), making them vulnerable to Shor’s algorithm, similar to P2PK. Did you know? Google’s “Willow” computer chip is capable of solving a complex problem in just five minutes. The same task would take a classical supercomputer 10 septillion (!) years. The race toward quantum-proofing Bitcoin Quantum resistance is a real challenge, but not an impossible one.Quantum computers, still in early development, could one day use Shor’s algorithm to break Bitcoin’s cryptography by deriving private keys from public keys. This would threaten Bitcoin and other systems using SHA-256 or ECDSA (the algorithms securing Bitcoin transactions). However, this threat is not imminent, and solutions are already in progress.While some believe that Project 11 presented the Q-Day Prize to take down Bitcoin, the company claims this initiative is aimed at “quantum-proofing” the network.In July 2022, the US Department of Commerce’s National Institute of Standards and Technology (NIST) announced four quantum-resistant cryptographic algorithms resulting from a six-year challenge to develop such solutions.Quantum computing won’t develop in isolation, and centralized systems like government and financial networks could be bigger targets than Bitcoin’s decentralized blockchain. These systems use outdated cryptography, like RSA, vulnerable to Shor’s algorithm, and store sensitive data (e.g., banking records). Their single points of failure make breaches easier than attacking Bitcoin’s distributed nodes. The International Monetary Fund warns quantum computers could disrupt mobile banking, while Dr. Michele Mosca from the Institute for Quantum Computing highlights “harvest-now, decrypt-later” risks for centralized data (where attackers store encrypted data today to decrypt with future quantum computers). In 2024, the G7 Cyber Expert Group urged financial institutions to assess quantum risks, noting that centralized systems’ data could be exposed if intercepted now and decrypted later.Did you know? Many blockchain networks are exploring quantum-resistant algorithms, such as Quantum Resistant Ledger or Algorand. These quantum computing blockchain security methods present a few different approaches. How to increase your security against quantum threats While the quantum computing cryptocurrency risk is less of a threat than one might think, it’s still best to stay prepared.Still, if you’re worried about Bitcoin quantum vulnerability, there are a few precautions you can take to secure your crypto finances.Avoid reusing public addresses: Most crypto wallets allow you to generate a new public address for every transaction. This practice will make it much harder to track your spending habits.Move funds to a private wallet: If you’ve been using the same public wallet address for some time, consider moving your funds to a new wallet with no history. This will help keep your spending habits private. Use a different blockchain network: Legacy networks like Bitcoin and Ethereum are considered less quantum resistant than newer networks with more modern security algorithms. Consider alternative networks with quantum resistance in mind.Stay informed: Pay attention to the results of the Q-Day Prize challenge, and stay up to date with quantum computing news so you can react accordingly. The best defense is an informed one.While quantum risk is not immediate, developers and cybersecurity experts are actively working on solutions to ensure long-term security. In the meantime, users should stay updated about Bitcoin protocol updates and best practices, such as avoiding address reuse, as the network gradually moves toward quantum resistance.

Decentralized settlement protocol Kima has integrated into Mastercard’s sandbox program, enabling stablecoin-powered top-ups for prepaid cards directly from self-custody wallets.According to an announcement shared with Cointelegraph, Mastercard partners can now rely on Kima’s settlement infrastructure to enable their prepaid cards to be topped up with stablecoins, including USDC (USDC) and Tether’s USDt (USDT), from self-custody wallets across more than 10 blockchains. Kima CEO Eitan Katz said the integration shows that stablecoins can be practical for everyday use, removing friction and intermediaries from crypto-to-fiat conversions while expanding crypto usability.“Our goal at Kima is to eliminate barriers between digital assets and traditional finance,” Katz said.Related: Mastercard tokenized 30% of its transactions in 2024Infrastructure designed for interoperabilityKatz described Kima’s settlement system as asset-agnostic and designed to simplify cross-ecosystem payments, supporting public blockchains, private ledgers and traditional banking rails:“Kima’s asset-agnostic settlement layer is designed to abstract the complexity of transferring value across disparate ecosystems, whether that’s public blockchains, private ledgers, or even traditional banking systems.”According to the announcement, Kima’s infrastructure is aligned with Mastercard’s aim to bring stablecoins into mainstream financial usage. Katz rejects the Bitcoin and crypto hardliner vision of digital assets being contraposed to fiat currency, claiming that “crypto and fiat must coexist seamlessly to reach their full potential.”Katz explained that Kima’s solution allows easy crosschain interoperability and eliminates reliance on intermediaries, custodians or complex smart contracts. This, in turn, reportedly enhances security and efficiency for all parties involved.Related: Mastercard links with Circle, Paxos for merchant stablecoin paymentsECB includes Kima in digital euro initiativeEarlier in May, the European Central Bank (ECB) included Kima in a list of 70 private sector partners tasked with helping in digital euro innovation. The firms on the list have signed up to work with the ECB to explore digital euro payment functionalities and use cases.“The breadth and creativity of the proposals highlights the digital euro’s potential as a catalyst for financial innovation in Europe,” ECB executive board member Piero Cipollone said at the time.Source: KimaDespite Kima’s institutional partnerships, Katz told Cointelegraph that “compliance shouldn’t mean giving up control of your funds or your data.” He said that know-your-client and Anti-Money Laundering checks are handled by third-party banks and virtual asset service providers at onboarding, and Kima never has access to the data. Katz added that “once a user is cleared, every transaction carries immutable metadata tags that our protocol-level engine checks against local rules.” This, he said, covers compliance “from the European Union’s Markets in Crypto-Assets Regulation to Singapore’s regulatory guidelines — before settlement.”Katz said that “keys are kept entirely under the users’ control,” while cryptographic proofs still allow for compliance.“Institutions get a plug-and-play control layer and users enjoy true self-custody,” Katz added.Magazine: Crypto wanted to overthrow banks, now it’s becoming them in stablecoin fight

Nasdaq-listed GD Culture Group plans to allocate up to $300 million from a stock purchase agreement toward acquiring BTC and TRUMP for its corporate treasury, signaling a strategic pivot toward decentralized finance. GDC to Build Crypto Reserve with $300 Million Stock Deal GD Culture Group Limited (Nasdaq: GDC) has announced a landmark $300 million common […]

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World Network, the digital identity and crypto project of Sam Altman’s OpenAI, has alarmed privacy activists ahead of its United States launch, with observers concerned over its data collection and protection practices.World “is the opposite of privacy. It’s a trap,” said Nick Almond, CEO of FactoryDAO, on X. While the project claims to protect user privacy in the age of proliferating AI, it’s faced a slew of regulatory concerns across the globe.Formerly known as “Worldcoin,” the iris-scanning technology and its crypto token payout scheme are being probed by authorities in India, South Korea, Italy, Colombia, Argentina, Portugal, Kenya and Indonesia. In Spain, Hong Kong and Brazil, it’s outright banned.World’s latest foray into the US could prove to be CEO Sam Altman’s biggest challenge yet, where privacy concerns are heightened by a patchwork of enforcement that differs state by state.Varying privacy laws could leave World users open to discriminationOn April 30, Altman announced that World would set up in “key innovation hubs” in five states in the US: Atlanta, Austin, Los Angeles, Miami, Nashville and San Francisco. Would-be verified humans can scan their irises at these hubs, giving World unique biomedical markers. These markers, per World, can be used to prove one’s humanness when interacting with others on digital platforms. But as World expands into the US, an uncertain regulatory landscape could put people off and make it difficult for the platform to build user trust. Andrew Rossow, a cyber and public affairs attorney at Rossow Law, told Cointelegraph, “There is no comprehensive federal law specifically regulating biometric data (such as iris scans) in the US.”Indeed, laws differ state by state. Two states in which World will operate, Texas and California, have some form of legal protections on the books for biometric data. Users in the remaining three states, Georgia, Tennessee and Florida, must rely on federal law, which requires that “companies must be transparent and fair, but there are no special state rules for iris scans.”But even the existence of state law is no guarantee of protection. In Texas, there is no private right of action for biometric data — only the state attorney general (AG) can enforce the state’s Capture or Use of Biometric Identifier law. Altman announced World’s foray into the US market at a company event two weeks ago. Source: World“The effectiveness of user data protections, as it pertains to World, hinges almost entirely on the Texas AG’s priorities, resources and willingness to act,” said Rossow. A more aggressive AG could mean more robust protections, while “a less aggressive administration could deprioritize enforcement, which leaves consumers open and vulnerable to exploitation.”The potential for exploitation is one of the key factors driving activist efforts against systems like World. Privacy International, a privacy protection group that supported legal action in Kenya against World, states that in “the absence of strong legal frameworks and strict safeguards, biometric technologies pose grave threats to privacy and personal security, as their application can be broadened to facilitate discrimination, profiling and mass surveillance.”Related: Over 70 crypto firms join forces to tackle Big Tech’s AI monopolyAs far back as 2021, Amnesty International had raised concerns over discrimination and biometric systems’ applications of dubious methodologies. Such systems, they said, can “make inferences and predictions about things such as people’s gender, emotions, or other personal attributes, suffer from serious, fundamental flaws in their scientific underpinnings.”“This means that the inferences they make about us are often invalid, in some cases even operationalizing eugenicist theories of phrenology and physiognomy.”Not everyone is convinced of privacy watchdogs’ concerns. Tomasz Stańczak, co-executive director at the Ethereum Foundation, said that he has spent “over 100 hours” analyzing World, which is building on the Ethereum network. He added that it “looked very promising and much more robust and privacy-focused than my initial intuition.”Paul Dylan-Ennis, an Ethereum researcher and academic, said that he believes World’s tech “is likely strong in privacy terms” but admitted that the aesthetic could be putting people off: “Just some intangible Black Mirror-ness to it all.”Worldcoin faces mounting bans worldwideOpenAI may be doubling down on an American strategy, but other jurisdictions around the world are increasingly investigating, limiting or outright banning the firm’s activities. In 2023, regulators in India, South Korea, Kenya, Germany and Brazil began investigating the firm’s data collection practices. Spain became the first country to ban World data collection outright in March 2024. Related: North Korean spy slips up, reveals ties in fake job interviewThe Spanish Data Protection Agency previously told Cointelegraph that its course of action was based on reports from Spanish citizens. It claimed that Orb operators provided “insufficient information, collected data from minors and even failed to allow withdrawal of consent.”Following the ban, World published a blog post stating that it operates “lawfully in all of the locations in which it is available.” World has recently made its iris-scanning orbs more compact and transportable. Source: WorldGlobal regulators disagreed. Hong Kong followed Spain in May 2024 and ordered World to cease operations as it was allegedly violating the city-state’s Personal Data Privacy Ordinance.Further accusations of improper data collection practices followed, and a number of countries like Germany and, more recently, Kenya, have ordered World to delete the data of thousands of users, while Colombia and Argentina have issued hefty fines.In January 2025, Brazil’s National Data Protection Authority banned World outright, citing concern over the irreversible nature of data collection and the potential for World to influence economically disadvantaged people with the promise of crypto for their data. Opportunities in Japan and the USDespite protestations in various countries, the ID system is making inroads. In Japan, World is now a part of dating online. Spencer Rascoff, CEO of Match Group, which includes dating app Tinder in its portfolio, announced on May 1 that Tinder would be trialing World’s ID system on Tinder in Japan, “giving users a privacy-first way to prove they’re real humans.”Tinder users in Japan can swipe right with World ID-verified users. Source: WorldThe integration in Japan is yet to take off, but as Tinder is the most popular dating app in Japan, it provides a major use case for the World identity platform. In 2024 alone, it had some 1.38 million downloads.If World could score a Tinder partnership in the US, it would acquire 7.8 million monthly active members overnight. If it expanded to similar services like Bumble or Hinge — the next two most popular dating apps in the country — World will have captured 67% of the US online dating market, comprising the personal, unique identities of tens of millions of users. But privacy rights in the US are far from settled. In Texas, one of the states where World plans to operate, Google recently settled to the tune of $1.4 billion. The company paid the eye-watering sum to the state of Texas after settling two lawsuits alleging the firm of tracking user search and location data, as well as collecting facial recognition information. Elsewhere, in Illinois and New York, biometrics firms face court proceedings, while lawmakers take measures to curtail the collection of biometric data.Magazine: ChatGPT a ‘schizophrenia-seeking missile,’ AI scientists prep for 50% deaths: AI Eye

Crypto venture capital deals in the first quarter of 2025 saw deal values jump even as the number of deals sank from the same quarter a year ago, says PitchBook.The venture research firm said in its May 14 Crypto VC Trends report for Q1 that 405 deals were made in the quarter, down 39.5% from the 670 deals made in Q1 2024, but slightly up from the 372 made in Q4 last year.However, the total value of deals in Q1 more than doubled from a year ago, jumping to $6 billion compared to $2.6 billion in the first quarter of 2024 and doubling from $3 billion in Q4 2024.PitchBook’s senior crypto research analyst Robert Le said that despite macroeconomic turmoil over the quarter, “capital continued to seek crypto’s core utility rails.”VCs poured nearly $2.55 billion across 16 deals into businesses like crypto asset managers, exchanges, and financial services at a rate that far surpassed any other segment.Crypto infrastructure and development firms saw the next largest venture funding, fetching nearly $955 million across 30 deals.Web3-focused companies saw the third-most deals and funding, at 23 and $231.2 million, respectively. Source: PitchBook.Looking ahead, PitchBook’s Le said Circle’s pending initial public offering (IPO) “represents the most important price-discovery event for crypto equity since Coinbase listed in 2021.”If Circle is valued above the rumored $4 billion to $5 billion range, it could show venture investors that business models similar to Circle’s are profitable and sustainable while also providing a clearer benchmark for future exits.“A strong roadshow could therefore crowd in new late-stage capital and reset valuation expectations upward across the payments and infrastructure stack.”Circle has raised $1.18 billion in VC funding to date, according to PitchBook, which estimates a 64% chance that it will go public in the future.“Dollar-denominated settlement remains crypto’s killer application”Le noted that the market value of stablecoins grew 12% over the first quarter, from $202.3 billion to $227.1 billion, even as other cryptocurrencies saw their values fall or stagnate.“In our view, this divergence underscores a growing consensus: Dollar-denominated settlement remains crypto’s killer application, insulated—at least partially— from broader risk-off moves.”Le said PitchBook expected that near-term venture investments could increase, “especially in payment, remittance, and treasury-management startups that directly monetize stablecoin velocity.”Related: Bitcoin builders defend venture capital’s role in layer-2 growthLe added that the $1.4 billion Bybit exploit in February — the largest in crypto history — may accelerate institutional demand for real-time proof-of-reserve tooling, improved custody solutions and middleware that simplifies key management.“Startups addressing those vectors should find a more receptive funding environment despite the broader valuation reset,” he added.Notable crypto venture-backed or growth-stage companies that received investment in Q4 2024. Source: PitchBookMagazine: Crypto wanted to overthrow banks, now it’s becoming them in stablecoin fight

Once a go-to swapper for hackers and drainers, eXch was shut down by German police in April — but continued activity suggests the story isn’t over.Without Know Your Customer (KYC) checks, eXch wasn’t your typical crypto exchange. It acted more like an instant swapper, allowing bad actors and cybercriminals to fly under the radar for years.Among its clients was the Lazarus Group. The North Korean state-backed hacking unit thrust eXch into the spotlight back in February, when it used the platform to funnel some of the $1.4 billion it stole from Bybit. When Bybit traced its stolen funds to eXch, it requested assistance — but the platform refused.This led to a fierce discussion over privacy versus security, but ultimately, eXch announced it would close its doors on April 17; on April 30, German authorities made it official.But according to security firm TRM Labs, the platform may have continued operating in stealth mode after the takedown. Here’s the rise, fall and afterlife of alleged crypto laundromat eXch.eXch shuts front door, keeps back door unlockedAlongside its shutdown announcement, eXch posted a message claiming it would not facilitate criminal proceeds. The post was removed within hours, and operations quietly resumed — signs of an internal disagreement or perhaps even a calculated attempt to lower visibility, according to TRM.CSAM-related fund flows traced to eXch. Source: TRM LabsGerman authorities seized eXch’s servers and confiscated 34 million euros ($38 million) in crypto, along with more than eight terabytes of data, effectively dismantling its public-facing infrastructure.Related: North Korean spy slips up, reveals ties in fake job interview“Just like we saw with Garantex rebranding as Grinex, eXch didn’t fully die after the shutdown. It quietly kept servicing a handful of partners via API, which meant laundering activity continued even after the public takedown,” said Jeremiah O’Connor, co-founder and chief technology officer of security firm Trugard.O’Connor added that it’s not unlikely for such platforms to serve loyal customers even after seizures.EXch website visited on May 13. Source: eXch“The people behind eXch.ch took full advantage of operating across multiple countries. The domain was registered through a UK-based provider, listed Switzerland as an admin location, hosted infrastructure in France, and had servers seized in Germany,” O’Connor said.It’s still unclear if eXch will kill its API or come back under a new name. TRM said in the May 2 blog post that the platform’s remaining back-end access continued to provide anonymization infrastructure for threat actors.No KYC, pooled liquidity draws illicit funds to eXchEXch’s origins trace back to 2014, according to “Fantasy,” lead investigator at crypto insurance firm Fairside Network. In an October 2024 investigation, Fantasy identified the platform’s first public appearance as a BitcoinTalk forum account promoting automatic swaps between Bitcoin (BTC), Perfect Money and BTC-e vouchers — payment methods commonly associated with high-risk transactions. Fantasy also traced the original Bitcoin wallet tied to eXch and found it was likely funded via BTC-e, the now-defunct crypto exchange shuttered by US authorities in 2017 for its role in laundering criminal proceeds.Fantasy’s forensic research found that the modernized form of eXch emerged in 2022, when its Ethereum hot wallet was first funded. Not long after, it became a hub for prominent crypto drainers.Monkey Drainer — the first known large-scale drainer-as-a-service operator — used eXch before its retirement. Other draining service providers like Pink Drainer and Inferno Drainer also passed funds through the platform, along with several major exploiters.EXch’s modern wallets traced to accounts held at Binance and OKX. Source: Fantasy/MetaSleuthEXch required no identity verification, allowing users to move funds with anonymity. That made it an attractive tool for cybercriminals looking to clean stolen assets.“EXch managed to stay active for years — despite facilitating obvious illicit activity — because there’s still a big gap between what regulators ‘can’ do and how fast technology is moving,” Amit Levin, former investigator at Binance, told Cointelegraph.“In today’s world, anyone can launch a smart contract or run a crypto service from anywhere, often without revealing who they are. And if there’s no registration, no KYC and no one to hold accountable, enforcement becomes close to impossible.”The platform also drew confidence from threat actors by using a pooled liquidity system that blended user deposits and withdrawals, making it difficult for investigators and law enforcement to trace the flow of funds.When eXch knew and did nothingEXch denied laundering funds for North Korean crypto hackers, and in its shutdown notice, it framed the project as an attempt by privacy enthusiasts to “restore balance” in the industry. It criticized Anti-Money Laundering enforcement and condemned companies offering address risk scoring APIs as “parasites” profiting off government fear.“Service providers in the crypto space are, for the most part, not decentralized; that is, they retain control over or access to customers’ assets, as demonstrated in the case of eXch,” Gal Arad Cohen, partner at S. Horowitz & Co, told Cointelegraph.“A financial intermediary operating in the crypto sector faces risks similar to those of traditional financial service providers and should, therefore, be held to equivalent standards and regulatory requirements,” she said.The closure of eXch is a “huge win” for crypto, according to Alex Katz, CEO of security firm Kerberus. However, Katz warned that bad actors can migrate to alternative projects, like THORChain, which received a shoutout in eXch’s unapologetic farewell manifesto.In the Bybit hack, decentralized swap protocol THORChain was used as the main bridge to swap around 500,000 Ether (ETH) to Bitcoin.EXch operators also used THORChain to allegedly obfuscate trails. Source: Tanuki42EXch stated that its partners would retain access to its API for a limited time, but future operations would depend on the “new management team.” The old team recommended setting up new liquidity pools to maintain seamless functionality and said it would provide consultations.It signed off with a defiant message: “Privacy is not a crime.”German authorities reported that $1.9 billion in crypto flowed into eXch since its inception. Its operators are suspected of commercial money laundering and running a criminal trading platform.Magazine: ChatGPT a ‘schizophrenia-seeking missile,’ AI scientists prep for 50% deaths: AI Eye

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Data shows the Dogecoin Futures Open Interest has continued to rise, a sign that the price pullback hasn’t discouraged speculative activity. Dogecoin Futures Open Interest Is Up Almost 64% Over Past Week In a new post on X, the analytics firm Glassnode has talked about the latest trend in the Futures Open Interest of Dogecoin. The “Futures Open Interest” here refers to a metric that keeps track of the total amount of futures positions related to DOGE that are currently open on all centralized derivatives exchanges. When the value of this metric goes up, it means the investors are opening up more positions on the market. The total leverage present in the sector usually goes up when new positions appear, so this kind of trend can lead to more volatility for the asset’s price. Related Reading: Bitcoin Sharks & Whales Continue To Accumulate: Stage Set For New All-Time High? On the other hand, the indicator observing a decline suggests the holders are either closing up positions of their own volition or getting liquidated by their platform. Usually, the cryptocurrency becomes more stable following such a trend. Now, here is a chart that shows the trend in the Dogecoin Futures Open Interest over the last few months: As displayed in the above graph, the Dogecoin Futures Open Interest has witnessed a huge increase recently, a sign that investors have put up a large number of bets related to the memecoin. Over the past week, the metric’s value has gone from $989 million to $1.62 billion, which implies growth of almost 64%. Initially, this strong uplift in speculative activity coincided with DOGE’s sharp recovery rally. Investors usually find rallies to be exciting, so they tend to open up more positions on the futures market during them. Interestingly, though, despite the fact that the Dogecoin rally has gone cool most recently and the price has even registered some pullback, the Futures Open Interest has only continued to move up. “This decoupling suggests persistent speculative positioning, even as price momentum fades – a setup worth monitoring,” notes the analytics firm. Related Reading: Bitcoin Near ATH, But Still No Extreme Greed: Green Sign For Bull Run? DOGE isn’t the only asset that has enjoyed a boost in speculative activity recently. As Glassnode has pointed out in another X post, XRP has also seen its Futures Open Interest shoot up. During the same window as Dogecoin’s Open Interest increase, XRP has observed the indicator go up by 41.6%, from $2.4 billion to $3.4 billion. “This sharp increase in leverage coincides with a price rally from $2.14 to $2.48, suggesting elevated speculative activity and growing directional conviction,” says the analytics firm. DOGE Price At the time of writing, Dogecoin is trading around $0.236, up more than 42% over the past week. Featured image from Dall-E, Glassnode.com, chart from TradingView.com