Celestia Introduces Bitcoin Rollups With New Framework

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Amazon To Reportedly Launch NFT Marketplace Next Month

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News

Bitcoin

Celestia Introduces Bitcoin Rollups With New Framework

Rollkit Allows Developers To Mix-and-Match Data Availability and Execution Layers

By Owen Fernau

Even as the crypto community grapples with the launch of NFT-like storage on the Bitcoin blockchain, more innovations are rolling in.

Rollkit, which enables developers to deploy rollups, which are scaling solutions which process transactions off a Layer 1 chain to minimize transaction costs, was introduced by Celestia on Feb. 21.

Rollkit allows developers to customize and choose their data availability layer, which serves as a source for blockchain data, as well as the execution layer, where transactions are processed.

These ‘sovereign’ rollups can theoretically run an Ethereum Virtual Machine (EVM), Ethereum’s smart contract engine, and use the Bitcoin blockchain for security and data.

Read the full story in The Defiant

Law Enforcement

US Government Moves $1B Of Seized Bitcoin

$217M Coinbase Transfer Could Signal Upcoming Sale

By Samuel Haig

The U.S. government appears to be shuffling $1B worth of Bitcoin among its wallets, including a $217M transfer to crypto exchange Coinbase.

The activity has ignited fears within the community that the move could be a precursor to a sale, which would likely drive down the price of BTC.

PeckShield believes that the funds originated from the infamous darknet market, Silk Road, noting that the government seized more than 51,000 BTC between November 2021 and March 2022 from an individual who previously hacked the platform.

Read the full story in The Defiant

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Regulations

GBTC Shares Jump on Judges’ SEC Skepticism

Parent Company is Seeking to Overturn SEC Denial And Convert GBTC to an ETF

By Aleksandar Gilbert

Shares of the Grayscale Bitcoin Trust (GBTC) surged Tuesday after federal judges in the United States appeared to side with parent company Grayscale in its lawsuit against the Securities and Exchange Commission.

GBTC is the world’s largest publicly traded crypto fund, with almost $14B in assets under management.

Last year, the SEC denied Grayscale’s bid to convert the trust to an exchange-traded fund (ETF), a move that would have allowed investors to redeem their shares for the underlying Bitcoin and, in turn, allow GBTC to trade more in tandem with its underlying assets.

On Tuesday, Don Verrilli, Grayscale lawyer and a former Solicitor General in the Obama administration, argued the SEC’s denial of the ETF conversion was “the definition of arbitrary decision-making.”

Read the full story in The Defiant

NFT News

Web2 Meets Web3

Amazon To Reportedly Launch NFT Marketplace Next Month

Platform Will Likely Not Support Crypto Assets

By Samuel Haig

Rumors are swirling that Amazon plans to launch an NFT marketplace in April. But critics are decrying claims that the platform will only accept credit and debit cards.

Amazon will reportedly launch 15 NFT collections alongside its marketplace on April 24, according to anonymous sources cited by Big Whale. The report went on to say the marketplace will be available as a tab on Amazon’s main website titled Amazon Digital Marketplace.

The platform will initially be available to U.S.-based customers before being rolled out internationally.

But skeptics emphasize that Amazon reportedly won’t support crypto assets on the platform.

Read the full story in The Defiant