Many users reported not having access to websites, including Coinbase and Blockchain.com, and social media platforms after Cloudflare reported an “internal service degradation.” Cloudflare, the company responsible for providing network services to websites and platforms across the internet, reported disruptions, which removed access to the front end of many cryptocurrency websites and communications through social media. In a Tuesday update to its system status, Cloudflare said it had implemented a fix after reporting an “internal service degradation” at 11:48 am UTC. “[W]e believe the incident is now resolved,” said Cloudlfare in an update on its status. “We are continuing to monitor for errors to ensure all services are back to normal.” Read more
Brazil is reportedly considering imposing a tax on the use of cryptocurrency for international payments, as it aligns its rules with a global standard for sharing tax data. Brazil is reportedly weighing a tax on the use of cryptocurrencies for international payments as it moves to adopt a global crypto tax reporting data exchange framework. A Tuesday Reuters report, citing “officials with direct knowledge of the discussions,” claims that the Brazilian government aims to tax cryptocurrency use for international payments. During the confidential talks, representatives of the country’s finance ministry reportedly expressed interest in expanding the Imposto sobre Operações Financeiras (IOF) tax to include some digital asset-based cross-border transactions. Read more
Bitcoin analysts are divided over whether the four-year cycle is in play or not as the price plunges: Trade Secrets Is this crypto market cycle over after four years or should the four-year crypto market cycle theory itself be consigned to history? Swan Bitcoin CEO and Bitcoin advocate Cory Klippsten leans toward the latter view. There is a very good chance that Bitcoins famous four-year price cycles are over, killed by institutional adoption, Klippsten tells Magazine. The debate has Bitcoin analysts around the world divided. Some insist the four-year cycle is still alive; others say it is dead and argue that Bitcoin is following a completely different path altogether. So whos right? Read more
Private key theft has become an automated, industrialized threat, highlighting the need for crypto users to remain vigilant, according to a report by GK8, a subsidiary of Galaxy Digital. Private key theft is no longer just another way hackers attack crypto users — it has become a full-fledged business, according to GK8, a crypto custody expert owned by Mike Novogratz’s crypto investment platform Galaxy Digital. In a report published Monday, GK8 detailed how private key theft has evolved into an industrialized operation, highlighting the rise of black market tools that allow perpetrators to locate and steal someone’s seed phrase. The study pointed to several tools, such as malware infostealers and seed phrase finders, that can scan files, documents, cloud backups and chat histories to quickly extract a user’s private key, effectively giving attackers full control over their assets. Read more
About 60% of aPriori’s APR airdrop was claimed by a single entity across 14,000 interconnected wallets, according to Bubblemaps. Web3 startup aPriori has gone quiet after fresh allegations over its latest token airdrop, as onchain analysts flag unusually concentrated distribution patterns. About 60% of the recent aPriori (APR) token airdrop was claimed by a single entity across 14,000 interconnected cryptocurrency wallets, according to blockchain analytics platform Bubblemaps. The wallets were freshly funded through crypto exchange Binance with 0.001 BNB (BNB) each over a short period, Bubblemaps said. All of the addresses then sent their APR allocations to new wallets. Read more
Pi is turning its giant mobile community into a distributed compute grid, testing whether AI can run on a global crowd instead of the cloud. Before talking about “50 million nodes reshaping AI,” it helps to look at what Pi Network actually has today. Pi began as a smartphone mining app and grew into one of the largest retail crypto communities, with tens of millions of registered “Pioneers.” Read more
El Salvador says it has bought 1,090 BTC worth over $100 million, raising questions about an IMF loan pledge to limit Bitcoin exposure and fiscal risks. El Salvador, the first country to adopt Bitcoin as legal tender, says it has bought more than $100 million in BTC despite pledging to the International Monetary Fund (IMF) to limit public exposure to the asset as part of a loan agreement. According to data from El Salvador’s Bitcoin Office, the government acquired 1,090 Bitcoin (BTC) worth more than $100 million on Tuesday. The purchase comes after the IMF said in a July report that the Central American nation had not bought any new Bitcoin since the organization approved a $1.4 billion loan program at the end of 2024. According to El Salvador’s Bitcoin reserve data, the country’s Bitcoin holdings went from 5,968 BTC on Dec. 18, 2024 — when the government inked a deal with the IMF — to over 7,474 BTC following its latest purchase announcement. Read more