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Source-backed coverage

CRYPTO NEWS ARCHIVE

Permanently retained stories with extracted source text and completed, source-grounded AI summaries.

  1. ETHEREUMCointelegraph

    Cambridge study puts Ethereum near lower end of PoS energy intensity

    A Cambridge study estimated that Ethereum currently consumes about 7.87 GWh of electricity annually, placing it near the lower end of energy intensity among major proof-of-stake (PoS) blockchains. Adjusted for market value, Ethereum uses approximately 33 kWh per $1 million, second only to BNB Chain, while Solana consumes the most at 13.48 GWh annually with an energy intensity of 283 kWh per $1 million. The study also noted that 56.4% of Ethereum’s electricity comes from renewable and nuclear sources, with the network’s energy use significantly reduced following its transition from proof-of-work to proof-of-stake after the 2022 Merge.

  2. ALTCOINSCoinDesk

    Ripple once weighed shutting down and handing XRP to shareholders, CEO says

    Ripple CEO Brad Garlinghouse revealed that he and co-founder Chris Larsen briefly considered shutting down the company and distributing XRP to shareholders after the SEC sued Ripple in 2020, alleging XRP was an unregistered security. They ultimately chose to fight the lawsuit to preserve jobs, incurring about $150 million in legal fees over four years. The case concluded with a federal judge ruling that XRP is not a security, followed by a settlement last year under new SEC leadership that has taken a more crypto-friendly stance.

  4. BITCOINCointelegraph

    Empery Digital Sold Bitcoin to Fund AI Data Center

    Empery Digital saw its shares rise after selling nearly half of its Bitcoin holdings, approximately 1,400 BTC, for about $87.1 million to fund a 25% stake in an AI data center project and to pay down $10 million in debt. This move came after significant pressure from major shareholder Tice P. Brown, who had urged the company to abandon its Bitcoin treasury strategy and replace its CEO and board. Empery’s Bitcoin holdings now stand at 1,514 BTC, down from a peak of 4,081. The positive market reaction reflects growing investor interest in AI initiatives amid waning confidence in Bitcoin treasury strategies.

  5. ETHEREUMCointelegraph

    Robinhood Chain sees over $70M in ETH bridged during first week

    According to Token Terminal, over $70 million worth of ETH has been bridged to Robinhood's new layer-2 blockchain within its first week. Robinhood Chain, an Arbitrum-based EVM-compatible network using ETH as its native gas token, aims to facilitate real-world assets and is integrated with Robinhood’s tokenized stock offerings. The platform’s daily active users reached 194,000, and daily revenue has grown to $39,000, with a total value locked of approximately $83 million. Industry experts, including Hayden Adams and Andri Fauzan Adziima, see this development as a positive signal for ETH, noting that Robinhood's choice to build within the Ethereum ecosystem may reinforce ETH's role as a liquidity and settlement layer.

  6. ALTCOINSCointelegraph

    DeFi may be ‘quietly re-rating’ given outperformance against Bitcoin: Bitwise

    Bitwise reports that DeFi tokens have outperformed Bitcoin over the past month, with Bitcoin falling about 22% in June, while DeFi tokens declined only 4%, which is unusual given their typical volatility. The firm suggests this may indicate a “quiet re-rating” of the sector, as traditional institutions increasingly use DeFi protocols, leading to improved token economics and reduced gaps between usage and token value. The total value locked in DeFi has decreased by nearly 40% this year to around $70 billion, but Bitwise notes this decline is smaller than during the 2022 bear market, suggesting some resilience. Additionally, Bitwise anticipates that regulatory developments, such as upcoming stablecoin projects and the passage of relevant legislation, could influence the market in the coming months.

  7. ETHEREUMCointelegraph

    Trader loses $2M in ‘same-block backrun extraction’ exploit

    A crypto trader lost approximately $2 million after a transaction was exploited through a "same-block backrun extraction" attack, with the trader swapping around 1,117 Ether on Uniswap v3 and receiving only $14,200 worth of tokens, according to GoPlus Security. The incident involved the transaction being routed through a low-liquidity pool, enabling an Ethereum block builder to profit significantly by executing arbitrage trades within the same block. The trader was advised by Ruslan Khairullin to read the transaction route before signing, highlighting the risk of blindly approving DEX transactions. The attacker used an inflated token price to drain value before distributing the profits to the builder Titan, which earned about $1.8 million from the event.

  8. ETHEREUMCointelegraph

    Binance Sees $1.23B Outflows as ETH Withdrawals Surge

    Binance experienced a significant increase in weekly net outflows, totaling $1.23 billion during the week beginning June 29, which is a 207% rise from the previous week’s approximately $400 million, according to DefiLlama data. Ethereum withdrawals on Binance also surged to their highest level in over three years, with over 166,000 withdrawal transactions in a single day, according to CryptoQuant analyst Darkfost. The outflows coincided with a modest rebound in ETH prices of about 12.5% over the past week, trading at $1,766. Some analysts suggest that this surge may reflect long-term accumulation behavior amid regulatory uncertainties related to the EU's MiCA regulation, rather than short-term trading. Other major exchanges, such as Finex, Gate, OKX, and Bybit, also reported significant outflows during the same period.

  16. ALLCointelegraph

    Electronic Transactions Association CEO Expecting More Partnerships with Bitcoin Startups

    ETA CEO Jason Oxman indicated that members might soon recognize Bitcoin’s disruptive potential, which could lead to more partnerships between traditional electronic payment providers and Bitcoin startups. The ETA welcomed BitPay as its first virtual currency company member and expressed a commitment to embracing new technologies, anticipating more collaborations as the payments industry innovates. Oxman clarified that the ETA does not advocate for Bitcoin specifically but supports all forms of electronic transactions, and he highlighted the importance of educating members on Bitcoin’s benefits through the Bitcoin Foundation. He also noted that regulators' concerns around customer protection influence the development and acceptance of new payment technologies like Bitcoin.