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Ethereum fork  successful as Sepolia testnet braces  for trial the Merge

The Gray Glacier hard fork went live on Ethereum without a hitch according to the network’s core devs. The Sepolia testnet is also set to run through its Merge trial over the next few days and is the second last testnet to go through the trial before the official Merge.

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The Gray Glacier hard fork went live on Ethereum without a hitch according to the network’s core devlopers. The Sepolia testnet is also set to run through its Merge trial over the next few days and is the second last testnet to go through the trial before the official Merge.

According to Etherscan, the Gray Glacier hard fork was initiated on block number 15050000 . The hard fork will now delay the difficulty bomb by roughly 700,000 blocks or 100 days, giving devs until mid-October to complete the long-awaited Merge.

Ethereum ecosystem developer Nethermind also confirmed the success of the hard fork, adding that the difficulty bomb had been successfully delayed.The difficulty bomb is a mechanism put in place to gradually disincentivize Ether  miners from Proof-of-Work  mining on Ethereum ahead of the network’s eventual merge with the Proof-of-Stake (-based Beacon Chain.

This is done by increasing the difficulty level of puzzles in the PoW mining algorithm, thus resulting in longer block times and fewer ETH mining rewards. The mechanism would also make the Merge significantly more complicated for devs to complete due to its gradual slowing of block-creation.

Pushing back the difficulty bomb was required as it would have slowed down new block creation so much that it would almost be impossible to introduce new network upgrades.

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7-Eleven South Korea to accept CBDC payments in national pilot program

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7-Eleven is set to participate in the testing phase of a central bank digital currency (CBDC) initiative, running from April to June. The retail giant’s involvement highlights the growing push for digital currency integration in everyday transactions.

The pilot program will assess the feasibility of CBDC payments at 7-Eleven stores, allowing customers to make purchases using the digital currency. The initiative is part of a broader effort to explore the real-world application of CBDCs in retail environments, potentially shaping future payment systems.

As central banks worldwide accelerate their digital currency research, private sector collaboration is seen as crucial for widespread adoption. If successful, 7-Eleven’s participation could pave the way for broader CBDC usage across retail and commercial sectors.

The outcome of the testing phase will provide valuable insights into consumer adoption, transaction efficiency, and potential regulatory considerations, influencing how CBDCs are integrated into mainstream financial systems.

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SEC and Gemini ask to pause lawsuit to explore ‘potential resolution’

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The U.S. Securities and Exchange Commission (SEC) and crypto exchange Gemini have agreed to pause legal proceedings as both sides explore a potential resolution to their ongoing lawsuit. The move signals a possible settlement in the high-profile case, which centers around Gemini’s now-defunct Earn program.

The SEC initially sued Gemini, alleging that the Earn program—designed to offer users yield on crypto deposits—operated as an unregistered securities offering. Gemini has pushed back against the claims, arguing that its operations complied with regulatory standards.

By pausing litigation, both parties may be looking for a compromise that could set a precedent for crypto lending products in the U.S. A settlement could also provide regulatory clarity for similar platforms navigating SEC scrutiny.

While the outcome remains uncertain, the crypto industry is closely watching the case, as its resolution could impact future enforcement actions and the broader regulatory approach toward digital asset lending services.

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GameStop finishes $1.5B raise to add Bitcoin to its balance sheet

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GameStop has successfully completed a debt offering, raising capital that may be used to acquire Bitcoin, signaling the company’s deeper foray into digital assets. The move aligns with its broader strategy to diversify beyond traditional retail operations and into emerging financial technologies.

While GameStop has not confirmed the exact allocation of the funds, market speculation suggests that a portion could be used to buy Bitcoin, following in the footsteps of companies like MicroStrategy. The potential investment would reinforce GameStop’s ongoing pivot toward blockchain and digital assets, an effort that began with its NFT marketplace and crypto-related initiatives.

Analysts see this development as part of a growing trend of corporations exploring Bitcoin as a reserve asset amid concerns over inflation and monetary policy. If GameStop proceeds with the acquisition, it could further validate Bitcoin’s role as a strategic investment for publicly traded companies.

The company’s board will ultimately decide how the newly raised capital is deployed. Investors and the broader crypto market are watching closely for any official announcements regarding GameStop’s Bitcoin strategy.

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