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"Craig Wright, Self-Proclaimed Bitcoin Founder, Receives 12-Month Prison Sentence"

The Crypto Basic

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Craig Wright, the self-acclaimed #Bitcoin creator, has been sentenced to 12 months in prison after defying a UK court order. 

Read more on: https://thecryptobasic.com/2024/12/20/self-proclaimed-bitcoin-founder-craig-wright-sentenced-to-12-months-in-prison/

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Shytoshi Kusama, the #Shiba Inu ecosystem lead, reveals plans to silence critics of the SHIB project in the near future. The lead developer revealed this while reacting to an X post from popular crypto expert Del Crxpto. In the post, the pundit suggested that the Shiba Inu lead had made a move that effectively silenced critics. “Shytoshi Kusama makes haters quiet,” Del Crxpto remarked. Shiba Inu Inks New Partnership with Chainlink This statement comes after Shiba Inu announced a surprising partnership with Chainlink, expanding accessibility for its ecosystem tokens, such as SHIB, BONE, and LEASH. Under the partnership, Shiba Inu’s Layer-2 network, Shibarium, will leverage Chainlink’s Cross-Chain Interoperability Protocol (CCIP) to enhance its interoperability with other blockchains. Furthermore, SHIB, BONE, and LEASH adopted Chainlink’s Cross-Chain Token (CCT) standard, boosting their multi-chain capabilities across 12 blockchains. Some of the supported blockchains include Coinbase’s Base, Optimism, Ethereum, Avalanche, BNB Chain, Polygon, and Kroma. Kusama Says He’ll Soon Silence Critics The partnership has attracted the attention of the broader crypto community, with Del Crxpto suggesting that Kusama made haters quiet with the development. Interestingly, the Shiba Inu leader said he has yet to silence critics but promised to do so ‘soon.’ This response suggests that the Shiba Inu ecosystem, under Kusama’s leadership, could be preparing to make another groundbreaking move.

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The crypto space witnessed a massive supply dump as the U.S. markets experienced a free fall. Amid the crash, #Bitcoin ’s price fell below $100,000 and tested a crucial level. With market liquidations surging, bears are firmly in control. Bitcoin (BTC) Price Analysis On the 4-hour chart, BTC’s price action shows a bearish breakdown of a long-term support trendline. This breakdown is accompanied by a 4-hour bearish engulfing candle, accounting for a 3.5% drop. Compared to its recent all-time high of $108,364, Bitcoin’s price has dropped by 10.68%. Currently, the price of a single Bitcoin is $96,796. Amid the crash, BTC registered a 2.77% decline yesterday. Furthermore, the residual bearish momentum led to an intraday drop of 0.60%. The breakdown rally tests the 200-EMA line on the 4-hour chart. However, as dynamic support holds the free-falling Bitcoin prices, incoming supply warns of a bearish continuation. Additionally, the 20-EMA and 50-EMA lines on the 4-hour chart have given a bearish crossover, signaling a short-term trend reversal. Even the 4-hour RSI line has entered the overbought zone, reflecting a significant increase in selling pressure.

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A #Bitcoin user has mistakenly paid an outrageous 8.18 Bitcoin ($808,564) for a single transaction, paying over 98% of the intended transfer amount on fees. In today’s Bitcoin news, an unlucky user has paid one of the highest Bitcoin transaction fees in history. Per data, he accidentally spent 8.18 BTC ($808,564) on a single transaction. Transaction Details Whale Alert drew the crypto community’s attention to the outrageous fee. The on-chain tracker tweeted that a user had just spent 8.18 bitcoin on a single transaction. Further analysis from Mempool shows that the wallet “bc1qdf” made the blunder on Thursday by 20:27 (UTC). The address moved 0.142 BTC ($14,042) to two addresses for a staggering 8.18 BTC ($808,564) transaction fee. Mempool shows that the wallet overpaid the transaction cost by 98,720 times the average gas fee on the Bitcoin network. Furthermore, the fee is the second most expensive in the network, lagging only to a user’s 83.65 BTC ($3.1 million at the time) transfer cost. Meanwhile, data shows that Foundry Services USA is the miner behind the transaction, which was approved at block height 875475. At the time of writing, the sending wallet’s confirmed balance is 0.042 BTC ($4,067), indicating that the miner has yet to return the overpaid fees. All indications suggest the user mistakenly paid the outrageous fee, but this remains unconfirmed at press time. #Cryptonews

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