The complexity of bitcoin mining has updated the maximum, US prosecutors demanded 36 months in prison for Changpeng Zhao, Tether announced its intention to block payments bypassing sanctions and other events of the past week.
The price of bitcoin has fallen to the level of $63,000
The first cryptocurrency started the week below the $65,000 mark. On Tuesday, April 23, digital gold soared to $67,000, but the next day it collapsed to $64,000.
At the time of writing, bitcoin is trading at $63,600.
The BTC/USDT hourly chart of the Binance exchange. Data: TradingView.Most of the top 10 digital assets by capitalization ended the week in the "red zone". The exceptions were Ethereum (+5.1%) and BNB (+5.4%).
Data: CoinGecko.The total capitalization of the cryptocurrency market is $2.5 trillion. The Bitcoin dominance index is 54.1%.
The difficulty of mining bitcoin after halving has updated the maximum
As a result of another recalculation, the difficulty of mining the first cryptocurrency increased by 1.99%. The indicator reached a record high of 88.1 T.
The average hashrate for the period since the previous value change was 726.3 EH/s.
According to Glassnode, the smoothed 7-day moving average peaked at 649.6 EH/s on the eve of the halving on April 20. After reducing the reward for the found block, it slightly adjusted to the level of 638 EH/s.
U.S. prosecutors have demanded 36 months in prison for Changpeng Zhao
The founder and former CEO of Binance, Changpeng Zhao (CZ), must spend 36 months in prison after pleading guilty to violating anti-money laundering laws. This is stated in the petition of the U.S. Attorney's office.
Federal regulations provide for a maximum sentence of 18 months in prison in Zhao's case. Prosecutors had previously announced their intention to achieve a harsher sentence, as much as possible it was a 10-year term.
https://forklog.com/news/eksperty-obsudili-vozmozhnyj-prigovor-eks-ceo-binanceCZ apologized for the "bad decisions" and took "full responsibility" for his actions in a letter to the judge.
"There is no excuse for my failure to establish the necessary compliance controls at Binance," Zhao wrote to Judge Richard Jones.He assured that this would be his "only meeting with criminal justice."
In addition to Zhao's petition, the court received 161 letters asking for leniency from family members, friends and others. Binance co-founder and mother of his three children, He Yi, also provided support.
https://forklog.com/news/glavnaya-oshibka-nevedenie-ji-he-vyskazalas-v-zashhitu-chanpena-chzhaoThe entrepreneur's sister Jessica Zhao, a former managing director of Morgan Stanley, noted that CZ made mistakes, but did not allow the misuse of customer funds, as happened in FTX.
What should I discuss with my friends?
The founder of Notcoin has named a new listing date.The Telegram username bought for $80,000 was presented to Pavel Durov.The Buy Bitcoin inscription, which became a meme, was sold for 16 BTC.The airdrop of two meme tokens paid off the pre-order of a Web3 smartphone from Solana.Tether has announced its intention to block payments bypassing sanctions
Tether will block wallets of organizations and individuals with USDT that have been sanctioned by the US Treasury Department. In particular, any payments in their favor will be frozen.
A representative of Tether stressed that the company remains committed to stopping transactions at addresses included in the OFAC SDN list and strives to ensure their operational blocking.
The statement was made after reports that Venezuela's state oil company PDVSA used USDT to circumvent sanctions.
Jack Dorsey's Block has developed a Bitcoin Mining Chip
Jack Dorsey's Block payment company has completed the development of a 3-nm chip for mining the first cryptocurrency. In autumn, the company received the corresponding silicon wafers from a manufacturing partner.
Now the company has started to create a full-fledged bitcoin mining system based on its own chip.
The team noted that as the program progressed, they spent a "significant amount of time" communicating with miners to identify the technical problems they were facing.
"Based on this information and in accordance with our goal of supporting the decentralization of mining, we plan to offer both a separate mining chip and a complete system of our own design," the developers stressed.The production of the devices will be handled by an unnamed "well-capitalized supplier of mining equipment," follows from the statement.
Also on ForkLog:
The trader earned $23 million on meme tokens.Commissions on the TON network decreased by 2.5 times.Justin Bieber's NFT investments have depreciated by 95%.One day brought the trader a 1025-fold increase in assets.https://forklog.com/news/pochemu-ne-rastem-eksperty-obyasnili-posthalvingovuyu-dinamikuJournalists found out the start date of trading bitcoin ETFs in Hong Kong
Trading on the spot bitcoin ETF launched by Bosera Capital and HashKey Capital on the Hong Kong Stock Exchange will start on April 30.
On April 15, the Hong Kong Securities and Futures Commission approved applications from Boshi International, HashKey Capital, China Asset Management and Harvest Investment to launch spot bitcoin and Ethereum ETFs.
According to the forecasts of the agency's analyst Rebecca Sin, within two years, the inflow of funds into this category of products could reach $ 1 billion.
Bloomberg analyst Eric Balchunas said that cryptocurrency ETFs listed in Hong Kong will be "lucky" if they manage to raise $500 million in total. The expert called Matrixport's projected $25 billion "madness."
What else should I read?
This week, ForkLog told us what Proof of identity (Proof-of-Personhood) is and whether bitcoin can protect wealth from depreciation.
https://forklog.com/exclusive/ai/nauke-vsegda-predshestvuet-filosofiya-gosti-all-time-half-o-tom-chem-horosha-gipoteza-simulyatsiiTraditional digests have collected the main events of the week in the fields of cybersecurity and artificial intelligence.
The most important news from the participants of the crypto industry was collected in a separate digest.
https://forklog.com/exclusive/partnerstvo-s-messi-i-25-mln-polzovatelej-obzor-birzhi-bitget