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Bitfinity Network launches Bitcoin L2 with $12M backing

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Bitfinity Network, a new Layer-2 solution for Bitcoin, has launched with a focus on enhancing the scalability and functionality of the Bitcoin blockchain. The project introduces an Ethereum Virtual Machine (EVM)-compatible environment that enables developers to build decentralized finance (DeFi) applications directly on the Bitcoin network. By integrating EVM support, Bitfinity seeks to offer Bitcoin users access to a broader range of DeFi services that were previously limited to networks like Ethereum and Binance Smart Chain.

The launch of Bitfinity Network is seen as a significant step in bridging the gap between Bitcoin’s robust security and the rapidly expanding DeFi sector. Bitcoin, while the leading cryptocurrency by market capitalization, has been limited in its ability to support smart contracts and decentralized applications (dApps). By enabling EVM compatibility, Bitfinity brings the versatility of Ethereum’s smart contract platform to Bitcoin’s more secure and widely adopted network, opening up new opportunities for developers and users.

Bitfinity’s Layer-2 approach aims to solve Bitcoin’s scalability issues by processing transactions off-chain while maintaining the security of the underlying Bitcoin network. This will allow for faster and cheaper transactions, crucial for the mass adoption of DeFi platforms. The project also emphasizes its commitment to low fees and high throughput, positioning itself as a viable alternative for developers looking to build decentralized applications that require the security and liquidity of Bitcoin.

The launch of Bitfinity comes at a time when interest in DeFi and Layer-2 solutions is at an all-time high. While Ethereum and other blockchain networks dominate the DeFi space, Bitcoin remains the most trusted and valuable digital asset. Bitfinity’s innovation may attract a wave of new users and developers to Bitcoin-based DeFi, as it combines the security of Bitcoin with the flexibility and functionality of Ethereum-compatible smart contracts. The success of Bitfinity will largely depend on its ability to gain adoption among developers and users within the competitive Layer-2 and DeFi ecosystems.

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Bitcoin price risks drop to $71K as Trump tariffs hurt US business outlook

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Bitcoin is setting its sights on the $71,000 mark as market conditions shift in response to geopolitical and economic developments, including a new tariff agreement and weakening U.S. business sentiment.

Recent market activity suggests that Bitcoin is benefiting from concerns over traditional economic indicators, with investors turning to digital assets as a hedge against economic uncertainty. A rare slump in U.S. business outlook has fueled speculation that risk assets, including Bitcoin, could see increased inflows.

Additionally, ongoing global trade negotiations and tariff adjustments have contributed to market volatility, prompting investors to seek alternative stores of value. Analysts suggest that if macroeconomic pressures persist, Bitcoin could continue its upward trajectory, potentially testing the $71,000 resistance level.

Despite short-term fluctuations, Bitcoin remains a focal point for investors navigating inflation concerns, regulatory shifts, and global economic trends. The coming weeks will be critical in determining whether Bitcoin can sustain its momentum and break through key price barriers.

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Crypto donations top $1B in 2024, gain traction after Myanmar, Thailand quake

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Changpeng “CZ” Zhao, the former CEO of Binance, has donated 1,000 BNB to aid relief efforts following a powerful earthquake that struck the Thailand-Myanmar border region. The donation, valued at approximately $600,000, aims to support those affected by the disaster and assist in recovery operations.

The earthquake caused significant damage in several areas, displacing residents and impacting local infrastructure. CZ’s contribution highlights the growing role of cryptocurrency in humanitarian aid, providing fast and transparent relief funding.

The donation will be distributed to organizations working on the ground to deliver emergency assistance, including shelter, food, and medical supplies. Crypto-based aid is increasingly being utilized in disaster response efforts due to its efficiency in reaching affected communities without the delays of traditional banking systems.

As the affected regions begin the recovery process, the crypto community continues to demonstrate how blockchain technology can play a meaningful role in global humanitarian initiatives.

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Hackers are selling counterfeit phones with crypto-stealing malware

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Security researchers have uncovered a wave of counterfeit Android devices preloaded with malware designed to steal cryptocurrency, posing a significant threat to users worldwide. The infected devices, which mimic popular smartphone brands, contain malicious software capable of hijacking digital wallets and siphoning funds.

The malware, embedded at the firmware level, allows attackers to gain remote access, intercept sensitive data, and execute unauthorized transactions. Because the malicious code is deeply integrated into the device’s operating system, it is difficult to detect and remove, making it a persistent threat.

Cybersecurity experts warn that unsuspecting buyers may unknowingly expose their crypto holdings to risk by purchasing these compromised devices from unverified sellers. Users are urged to exercise caution by only purchasing smartphones from trusted retailers and manufacturers.

The discovery highlights the growing sophistication of cybercriminals targeting the cryptocurrency sector. As mobile-based crypto transactions become more common, security measures such as hardware wallet usage and multi-factor authentication are increasingly essential to safeguard digital assets from emerging threats.

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