A wallet provider for the Algorand (ALGO) network, MyAlgo, has warned its users to withdraw funds from any wallets created with a seed phrase amid an ongoing exploit that has seen an estimated $9.2 million worth of funds stolen. MyAlgo tweeted the advice on Feb. 27 adding it still doesn’t know the cause of the recent wallet hacks and encouraged “everyone to take precautionary measures to protect their assets.” IMPORTANT: ⚠️We strongly advise all users to withdraw any funds from Mnemonic wallets that were stored in MyAlgo. As we still don't know the root cause of recent hacks, we encourage …

In an announcement sent to Cointelegraph, the Algorand team said that it partnered with Jawaharlal Nehru Technological University Hyderabad and the Indian School of Business with the intention of launching educational programs. This includes programs for both faculty development and student developer training. In addition, the firm will also be hosting a master class for businesses looking to dive into the Web3 space. Anil Kakani, Algorand's recently-appointed country head for India, said that the partnerships aim to build sustainable impact. He explained: Algorand Foundation announced several partnerships in India, including collaborations with schools to develop educational programs that will help …

The Singapore-based troubled crypto lender is looking at a possible liquidation as the firm's creditors have rejected the proposed restructuring plan and are seeking liquidation of the platform’s assets. The group of creditors rejected a restructuring plan offer that allowed the current directors to look over the operations of the firm during the restructuring phase. However, a Jan. 12 hearing rejected an application to remove the interim judicial managers, reported Bloomberg. The creditors believe restructuring plans are of no help, and it is in their best interest to wind down and liquidate the remaining assets of the firm. Algorand Foundation, …

Decentralized finance (DeFi) markets may have cooled down over the past year, but the technology powering these applications continues to advance. In particular, smart contract platforms that enable transactions to take place across DeFi applications are maturing to meet enterprise requirements. While it’s notable that enterprises have previously shown interest in DeFi use cases, smart contract limitations have hampered adoption. A report published by Grayscale Research in March puts this in perspective, noting that “Despite handling millions of transactions per day, smart contract platforms in their current state would be incapable of handling even 10% of the worlds’ internet traffic.” …

Welcome readers, and thanks for subscribing! The Altcoin Roundup newsletter is now authored by Cointelegraph’s resident newsletter writer Big Smokey. In the next few weeks, this newsletter will be renamed Crypto Market Musings, a weekly newsletter that provides ahead-of-the-curve analysis and tracks emerging trends in the crypto market. The publication date of the newsletter will remain the same, and the content will still place a heavy emphasis on the technical and fundamental analysis of cryptocurrencies from a more macro perspective in order to identify key shifts in investor sentiment and market structure. We hope you enjoy it! DeFi has a …

The major United States stock market indices continued their decline last week as worsening macroeconomic conditions increased concerns of a global recession. The Dow Jones Industrial Average closed at its lowest level in 2022 and major indices recorded their fifth weekly close in the past six weeks. Although Bitcoin (BTC) has only declined marginally this week, it risks closing at the lowest level since 2020. While a new multi-year weekly close is a negative sign, sellers will have to sustain the lower levels or else it may turn out to be a bear trap. The price action of the next …

Many companies and industries are incorporating Web3 technologies into their business structures, and the travel industry is no exception. On Sept. 21, Flybondi, an Argentinian airline, announced a strategic alliance with TravelX, a blockchain technology company responsible for tokenizing flight tickets. The partnership intends to enable travelers to purchase airline tickets as non-fungible tokens through Binance Pay, using USDC as payment for transactions. Speaking with Cointelegraph, the Co-founder of TravelX, Facundo Diaz, shared that he was fully convinced that Web3 technologies could allow the travel industry to expand, not only in market size but also in terms of use cases …

Prices remain soft across the market as traders await Federal Reserve Chair Jerome Powell’s statement on the size of the next interest rate hike. At the moment, the market consensus is a 0.75 bps rate hike and a sliver of analysts are banking on 1%. Stocks also appear en-route to close the day in the red, with the Dow down 0.75%, and the S&P 500 and Nasdaq registering a 0.79% and 0.64% loss. Bitcoin continues to fight what appears to be a losing battle at the $19,000 mark, while Ether (ETH) dug a little deeper into its post-Merge dip by …

Insurance is key for financially securing important assets. Yet, the cryptocurrency sector — which is predicted to reach a global market size of $4.94 billion by 2030 — may be lagging behind when it comes to insuring digital assets. For instance, it’s been noted that less than 1% of all crypto investments are currently insured. This statistic is alarming, considering the rapid growth and high-risk profile associated with today’s cryptocurrency market. Ben Davis, team lead for digital assets at Superscript — a British startup and Lloyd’s of London-licensed insurance broker — told Cointelegraph that crypto has been marginalized when it …

Pure proof-of-stake (PPoS) blockchain Algorand has introduced cross-chain communication and transaction speed improvements with the latest upgrade to its protocol. The layer-1 blockchain network announced the implementation of State Proofs to its mainnet, which introduces trustless communication between different blockchain protocols. The upgrade also increased Algorand’s processing speed from 1,200 to 6,000 transactions per second. The upgrade also includes the provision of new tools for developers as well as on-chain randomness capabilities for decentralized applications (DApps) running on Algorand. On-chain randomness is a key feature of Algorand's PPoS consensus, in which network validators are chosen at random despite the respective …

The demand for organizations to adopt blockchain technology is growing rapidly. Recent findings from market research and advisory firm Custom Market Insights found that the global blockchain technology market size was valued at $4.8 billion in 2021, yet this amount is expected to reach $69 billion by 2030. While notable, it’s become critical for the industry to enable rigorous research into the development of the blockchain sector. Tim Harrison, vice president of community and ecosystem at Input Output Global (IOG) — the developer arm behind the Cardano blockchain — told Cointelegraph that during the past year, the blockchain ecosystem has …

The excitement surrounding blockchain technology is palpable, but it's been coupled with growing concerns about the impact that mining has on the environment. But some crypto projects are tackling these climate fears head-on — with Algorand positioning itself as a high-performance, decentralized network that achieves sustainability without sacrificing speed, scale, or security. Built as a blockchain with very low energy use, those behind this platform have started a foundation that aims to highlight why blockchains must be eco-friendly — all while offering a lasting solution that's carbon negative, fast, scalable and secure. The vision? To prove that our financial futures …