Bitcoin (BTC) investment firm NYDIG’s report revealed that 35.1% of Bitcoin’s core developer team is residing in the U.S., and the core team grows by 5 to 20 people every month. NYDIG’s report examines the technical development of this open-source technology.

According to the report, there are 13,057 unique developers who contributed to the broader Bitcoin ecosystem, excluding the ones who work on closed-source solutions. Another 1,140 unique developers, on the other hand, have contributed to the Bitcoin Core. The average monthly number of active unique developers for Bitcoin Core varies between 40–60.

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The proposed acquisition of the FTX crypto exchange by rival Binance is bringing European regulators and experts forward — and they’re commenting that the bloc’s new digital asset legislation will mitigate such market spirals in the future. EU regulators may be influenced by the unfolding story while drafting the new rules for the MiCA regulation.

The crypto space is not a gambling casino,” Stefan Berger, a social-liberal member of the European Parliament who was a lead negotiator on the Markets in Crypto-Assets legislation expected to pass Parliament early next year. “MiCA is the bulwark against Lehman Brothers moments such as the FTX case,” he added in emailed comment to The Block. put in place internal control mechanisms and provide transparency to clients.

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The growth of illegal bitcoin mining operations could affect the stability of the power system in Paraguay, according to statements from the National Power Administration. The boom the country is experiencing is taking its toll on the power system, with many miners plugging in illegally and consuming high amounts of power without making payments.

Paraguay’s popularity as a country with cheap power tariffs for bitcoin mining is hurting the electric grid and might work against the stability of the power system in the country. ANDE, the National Power Administration, declared on Oct. 28 that the recent boom in bitcoin mining has caused power consumption for the department of Alto Parana to grow immensely, with many operations connecting illegally to the grid.

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Binance‘s CEO Changpeng Zhao tweeted to warn that Google displays phishing websites when users search for CoinMarket Cap. Zhao said users who try to add smart contract addresses to their MetaMask wallets are the ones that get most affected by this error.

According to Zhao, the Binance security team detected the problem and is trying to reach out to Google to fix the issue. At the time of writing, Google hasn’t returned or made any changes. A total of 39 incidents were included in the report, which didn’t include phishing attacks. But they have been growing in number, effect, and sophistication. The community also noticed their spread as they became the newest form of high-tech fraud.

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Hong Kong is relaxing its crypto regulation to allow retail investors to trade digital assets directly. A licensing regime for crypto platforms that allows retail crypto trading is reportedly set to be enforced in March next year. Hong Kong is reportedly relaxing its strict cryptocurrency regulation with a plan to allow retail crypto trading, Bloomberg.

Hong Kong’s top financial regulator, the Securities and Futures Commission (SFC), introduced a voluntary licensing regime in 2018. It restricted crypto trading platforms to clients with portfolios of at least HK$8 million ($1 million). However, the tough regulation turned away many crypto businesses and only two firms — BC Technology Group and Hashkey — were approved. Michel Lee, executive president of digital asset financial services group Hashkey, explained that Hong Kong.

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Terra Classic (LUNC), the original chain of the collapsed Terra (LUNA) ecosystem, has lost its momentum in the last week that saw the asset rally despite the general crypto market trading in the red zone. After rallying from around August, LUNC is witnessing a sustained capital outflow as investors focus on whether the token will rally again.

The selling pressure in LUNC has partly impacted the token’s value in establishing a bearish momentum during the seven days. By press time, the token was valued at $0.00023, dropping over 11% in a week. LUNC has taken a significant nosedive after weeks of sustained growth powered by several initiatives like community short squeezes. It can be argued that the effects of the general market are now catching up.

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Coinbase has announced commission-free trading for those who buy USDC with non-USD fiat currency in a bid to increase its use outside the United States. San Francisco-based exchange Coinbase is building on-ramps for USDC access outside the United States in a bid to “increase economic freedom in the world.”.

The exchange wants to reduce barriers to using the stablecoin by establishing global parity for all users — meaning that Coinbase will remove commission fees when customers buy or sell USDC via any non-USD fiat currency on Coinbase. USDC has quickly become a strong stablecoin in the market and is now competing with UDST. The CEO of its issuer, Circle, has also said that the stablecoin is in its strongest financial position ever.

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