The hash rate of Bitcoin has reached an all-time high level, demonstrating the network's increased resilience in preparation for the highly anticipated halving event next year.

The hash rate of Bitcoin has reached an all-time high level, demonstrating the network's increased resilience in preparation for the highly anticipated halving event next year. According to Blockchain.com, the total hash rate of Bitcoin reached 491 exahashes per second (TH/s) on Wednesday, indicating that mining machines worldwide are performing 491 quintillion hash computations every second.
Hash rate refers to the amount of computing power utilized per second, and higher hash rates make it more difficult for malicious actors to gain control of over 50% of the Bitcoin network. This surge in hash rate suggests a rise in mining activity as miners expand their operations and employ more machines to maximize their profits.
Hashing, which is the process of converting data into fixed-length character strings, plays a critical role in various Bitcoin network activities, including the creation of private keys for transactions
While higher hash rates lead to increased energy consumption and costs for miners, the upcoming halving event, expected in April, has prompted miners to invest in more efficient machines, contributing to the rising hash rate. During the halving, the amount of newly minted Bitcoin awarded to miners is reduced by half every four years, which helps control the inflation of BTC. Despite past criticisms of Bitcoin's energy consumption, the rising hash rate highlights the ongoing efforts of miners to improve efficiency and sustainability within the industry.

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Carl Erik Rinsch, the director of Netflix's sci-fi series "Conquest," allegedly utilized $4 million from the show's budget to invest in Dogecoin (DOGE).

Carl Erik Rinsch, the director of Netflix's sci-fi series "Conquest," allegedly utilized $4 million from the show's budget to invest in Dogecoin ($DOGE ), resulting in an astonishing profit of $27 million. As reported by The New York Times, Rinsch is now seeking an additional $14 million from Netflix through a confidential arbitration proceeding.
The article sheds light on the behind-the-scenes turmoil surrounding Rinsch's show, which was allocated a budget of $55 million by Netflix but has yet to release its first episode. After initially receiving a budget of $44 million from Netflix in March 2020, Rinsch requested further funds. Netflix agreed to provide an additional $11 million under the condition that Rinsch completed the series.
However, financial records obtained by the NY Times reveal that Rinsch used $10.5 million of the additional funds to engage in stock market speculation. Unfortunately, his options bets on pharmaceutical companies and the S&P 500 resulted in losses of nearly $6 million. With a little over $4 million remaining, Rinsch transferred the remaining funds to the cryptocurrency exchange Kraken and placed a full bet on Dogecoin. In May 2021, he reportedly withdrew around $27 million after liquidating his Dogecoin holdings.
Rinsch allegedly spent a substantial portion of his profits, approximately $9 million, on extravagant purchases such as luxury furniture, designer clothing, a watch worth over $380,000, five Rolls-Royces, and a Ferrari. These details emerged from a forensic accountant hired by Rinsch's ex-wife for their divorce proceedings.
In response to these developments, Rinsch initiated a confidential arbitration proceeding against Netflix, asserting that the streaming service breached their contract and owes him $14 million in damages. Netflix, on the other hand, denies any obligations and has characterized Rinsch's demands as an attempt to extort money.

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Swan Bitcoin announced new restrictions today regarding user accounts interacting with cryptocurrency mixing services.
In an email sent to users, Swan Bitcoin stated that accounts depositing or withdrawing Bitcoin directly from mixing services may be terminated. The company cited pressure from its banking and custodial partners as the reason for this policy change.
Swan Bitcoin's partners are responding to a recent proposal from the Financial Crimes Enforcement Network (FinCEN) that would require regulated financial institutions to report any transactions associated with mixing services. FinCEN claims mixing services help facilitate money laundering by criminals.
Swan Bitcoin CTO and co-founder Yan Pritzker acknowledged the company favors coin-mixing services. However, he said Swan must comply with its partners' requirements to be able to process fiat currency deposits and withdrawals for customers.

Some members of the crypto community have voiced outrage over Swan's policy shift. Samourai Wallet, which offers mixing features, criticized Swan for enforcing a proposal not yet set into law.

Swan's move comes as US regulators ramp up pressure against mixing services.

Blockchain security firm SlowMist has uncovered a phishing attack involving a counterfeit Skype app designed to steal cryptocurrency funds from unsuspecting victims. The victim, who downloaded what he believed to be the Skype app from the internet, had his funds stolen, highlighting the risks users face, particularly in regions like China where direct downloads serve as substitutes for unavailable official app stores.

Due to the absence of Google Play in China, users often resort to downloading apps directly from the internet, making them vulnerable to fake applications. SlowMist's investigation identified several red flags in the fake Skype app, including a newly created certificate in September and signature information pointing to a Chinese origin.
The counterfeit Skype app, injected with malicious code, monitored and uploaded files and images from users' devices to capture sensitive information. It specifically targeted Ethereum and Tron blockchain addresses, replacing them with malicious addresses to reroute payments. The attackers managed to siphon almost $200,000 in USDT through one of the malicious Tron addresses.
Notably, the phishing domain initially impersonated the cryptocurrency exchange Binance before switching to mimic Skype's backend. SlowMist advises users to use official app download channels and enhance security awareness to mitigate the risk of falling victim to phishing attacks.

The Grok (GROK) token, unofficially associated with Elon Musk's recently launched AI service, experienced a volatile rally.

The Grok (GROK) token, unofficially associated with Elon Musk's recently launched AI service, experienced a volatile rally, reaching a market capitalization of $160 million in just eight days since launching.
The token surged 13,000% over the past week, peaking at a high of $0.025, according to CoinMarketCap, before crashing almost 50% to trade at 0.012 currently. Despite significant trading volumes and reaching a market capitalization of $160 million, liquidity was limited on the main Uniswap trading pair, leading to concerns about potential price crashes.
The ease of token creation and trading on decentralized exchanges has led to the creation of numerous memecoins riding on the latest trends, such as the spot Bitcoin ETF applications.
Elon Musk's Grok AI recently launched to compete with popular AI chatbot offerings such as Google's Bard and OpenAI's ChatGPT.

XRP experienced a sudden 12.3% surge today following a fake filing in Delaware that claimed the existence of a "BlackRock iShares XRP Trust."
XRP experienced a sudden 12.3% surge today following a fake filing in Delaware that claimed the existence of a "BlackRock iShares XRP Trust." Despite the submission of the corporate registration, BlackRock, the $9 trillion asset manager, clarified that it did not file the document, dispelling confusion among XRP holders.

Last week, BlackRock registered the iShares Ethereum Trust in Delaware, leading to a surge in Ethereum's price, as speculations over these registrations that often precede ETF filings. BlackRock later confirmed its intentions for an Ethereum ETF in a Nasdaq filing, contributing to the ongoing anticipation and price fluctuations in the crypto market.
The recent surge in anticipation is linked to the Securities and Exchange Commission's (SEC) potential approval of Bitcoin and Ethereum ETFs. Bloomberg analysts highlighted a brief window until November 17 for potential approvals, given the SEC's extended deadline to November 18.
This incident follows a pattern of misinformation impacting crypto markets, similar to the false report in October when the claim of the SEC approving BlackRock's Bitcoin ETF application led to a 10% surge in BTC's price before a rapid correction.

The FTX bankruptcy estate, led by CEO John J. Ray III, has initiated legal proceedings against ByBit, its investment arm Mirana, and several executives.

The FTX bankruptcy estate, led by CEO John J. Ray III, has initiated legal proceedings against ByBit, its investment arm Mirana, and several executives. The bankrupt exchange FTX is seeking "compensatory and punitive damages" from ByBit to recover funds and digital assets that ByBit allegedly withdrew just before FTX's collapse. The lawsuit claims that ByBit, utilizing its "VIP" access and connections within FTX, withdrew significant cash and digital assets from Mirana, Time Research, and executives, amounting to almost $1 billion in current value.
During FTX's withdrawal challenges in November 2022, FTX employees purportedly prioritized Mirana's substantial withdrawals, totaling over $327 million. ByBit has reportedly imposed restrictions on the FTX estate, limiting withdrawals to $125 million on the ByBit exchange. By doing so, ByBit leveraged these assets to recover an outstanding balance of $20 million that it could not withdraw before FTX's collapse.
The legal action also reveals that ByBit, in October 2021, privately disclosed its control over BitDAO (now Mantle) despite presenting it as a decentralized entity. ByBit later approached FTX in May 2023 with an unconventional proposal to reverse a transaction, leading to disputes and the subsequent rebranding of BitDAO to Mantle.