Sunday, February 2, 2025

The Bitcoin Network

ThePioneer

Launched in January 2009 by the pseudonymous Satoshi Nakamoto, Bitcoin is the world’s first cryptocurrency and remains the most well-known and valuable. Born out of the desire for a decentralised financial system, Bitcoin operates on a peer-to-peer network, allowing users to transfer value without intermediaries. Its underlying technology, blockchain, ensures secure and transparent transactions by recording them in a public ledger. Bitcoin’s capped supply of 21 million coins and its deflationary nature make it a compelling asset in an era of inflationary fiat currencies. Over the years, Bitcoin has evolved from a niche digital experiment to a mainstream investment and a potential hedge against economic instability. Its role as 'digital gold' reflects its growing acceptance and the belief in its long-term value retention.

Bitcoin News

PumpDotFun Faces Class-Action Lawsuit while OdinFun Launches for Runes

PumpDotFun, a prominent platform for launching and trading memecoins, is now at the center of a class-action lawsuit alleging violations of U.S. securities laws. Plaintiffs claim the platform sold unregistered securities and amassed “hundreds of millions of dollars” in fees while permitting questionable content. If successful, the lawsuit could significantly tighten regulatory oversight and reshape the memecoin landscape.

Coinbase Introduces cbBTC: Wrapped Bitcoin Aims to Rival BitGo’s WBTC

Coinbase has made a bold move into the world of decentralised finance (DeFi) with the launch of cbBTC, its own wrapped version of Bitcoin. This ERC-20 token, backed 1:1 by Bitcoin held in custody by Coinbase, allows Bitcoin holders to leverage their assets within the Ethereum and Base ecosystems. Coinbase’s entry into the wrapped Bitcoin market comes at a time of growing competition, particularly with BitGo, whose Wrapped Bitcoin (WBTC) has long dominated the space. With cbBTC, Coinbase aims to provide an alternative while expanding Bitcoin’s utility in DeFi.

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