China News by Thebittimes.Com

A decentralized social media altcoin is nosediving just days after gaining support from the top US crypto exchange platform. New data reveals that social media token DEGEN went from a weekly high of $0.011 to $0.008 since being adopted by Coinbase on October 15th, a 27% drop. According to DEGEN’s website, the digital asset is a reward token for active participants of the decentralized social media platform Farcaster. Furthermore, it powers the Degen Chain, which is billed as a layer-3 built over Base, the blockchain of Coinbase. “DEGEN is a reward token for Farcaster users, born from meme culture. It uses a unique tipping system that empowers the community to reward quality content creators. It also powers the Degen chain, one of the pioneering layer-3s launched on Base, offering a platform for building and using Degen apps, often referred to as the ‘Las Vegas of blockchains.'” DEGEN, which launched earlier this year in January, has a su...

Bloomberg Intelligence ETF analyst Eric Balchunas faced a backlash on social media after sharing a now-deleted post criticizing Ethereum security, with one prominent voice accusing him of spreading misinformation. The controversy stemmed from an excerpt from the book, ”Bitcoin: Beginner’s Guide,” that Balchunas shared. It claims that Ethereum is less secure than Bitcoin and says the network could be shut down by the US government by telling Amazon Web Services (AWS), which currently hosts 28.4% of the network’s nodes, to turn off its cloud services. Ethereum supporters were quick to condemn the post, and Balchunas’s tweet was deleted. “For those wondering, this is the tweet Eric deleted – absolute blatant misinformation and pretty much complete propaganda,” said independent Etherum Ethereum educator Anthony Sassano in a post on X. “You should be utterly ashamed of yourself for even sharing this (and you only deleted it because yo...

Join Our Telegram channel to stay up to date on breaking news coverage During these difficult times, as rumors fly about how much cryptocurrency will be worth following the catastrophic collapse of the cryptocurrency exchange FTX and other significant platforms, a crucial question has emerged: “Who will keep your cryptocurrency safe?” As a result, some members of the cryptocurrency community are urging a return to its decentralized origins. “Not your keys, not your coins” is one of the movement’s rallying cries. Or, only have faith in yourself. But in order to do so, people must manage their own cryptocurrency wallets, which is a trickier but safer method that necessitates creating sophisticated passwords and occasionally purchasing real hardware to store money as opposed to entrusting it to an exchange. A company like FTX was intended to keep your funds, but instead, they ended up lending them out, stated Tracy Wang, deputy managing editor at t...