Category: Cryptocurrency

Vitalik Buterin urges Ethereum Layer 2 networks to cut withdrawal times under one hour, warning long waits undermine security and adoption.

Ethereum Withdrawals: Vitalik Buterin Pushes for Instant L2 Exits

ETH’s co-founder Vitalik Buterin is turning up the heat on Layer 2 (L2) networks 🚀. In a detailed post on X, Buterin said withdrawal times must drop below one hour — or risk undermining Ethereum’s entire security model.

Currently, many L2s require long wait periods before users can move funds back to Ethereum mainnet. This, Buterin warned, drives people toward multisigs and MPC-based shortcuts with “unacceptable trust assumptions.” He stressed that without faster exits, “we lose the point of L2s over separate L1s.”

The statement came just after L2BEAT confirmed Base, Optimism, Scroll, Unichain, Kinto, and Inco passed Stage 1 security requirements. While Buterin praised this progress, he said the real breakthrough will be fast, secure, and low-cost withdrawals.

ZK Proofs Could Change the Game

Buterin called for a pivot from optimistic proofs to ZK proofs, which can confirm transactions much faster without sacrificing security. He floated a 2-of-3 hybrid model combining ZK, OP, and TEE systems where two out of three (ZK, TEE) enable near-instant exits.

ZK-EVM proof tech is advancing quickly, with better formal verification tools now available. But Buterin admitted high gas costs for proof submission remain a challenge.

ETH’s price reacted positively, climbing 5.9% in 24H to $4,047.92. If L2s adopt Buterin’s withdrawal vision, it could supercharge user trust and Ethereum adoption worldwide.

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Conflux (CFX) has captured the crypto spotlight with a massive 200% rally, propelled by the rollout of its Tree-Graph 3.0 upgrade. The token now trades around $0.22, showing signs of forming a bull flag—a chart pattern that often hints at a continuation of bullish momentum.

The price action began in early July from a strong support at $0.0915 and has climbed rapidly since. With CFX testing resistance near $0.2508 (upper Bollinger Band), technicals suggest both opportunity and risk. The MACD indicator shows fading bullish strength as the histogram declines, hinting at a possible short-term pullback.

If CFX dips, immediate support lies around $0.1962, followed by a lower level at $0.1732. However, a decisive break above $0.2299 could propel the token past $0.2572 and even toward $0.28 in the coming days.

Trading volume has dipped slightly, which often precedes a consolidation or a reversal. Yet, renewed volume could reignite the rally. For now, all eyes are on whether this bull flag confirms an explosive breakout—or if the price correction is about to start.

CFX traders are walking a tightrope: bullish continuation or looming fade?

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A legendary piece of meme history is about to find a new home. The original pink hat worn by Achi, the Shiba Inu behind the iconic “Dogwifhat” meme, is now up for auction. With just hours left, the top bid has reached 6.8 BTC (approx. $791,248), submitted by a user named Finn.bags. The bidding started at just 0.00025 BTC on August 5 and could even close at 10 BTC.

The handcrafted wool hat, once a Christmas decoration, measures 12.5 x 12.5 x 10 cm and weighs only 0.09 kg. Included in the sale are high-res photos, a video from Achi’s owners, and a verification note.

The meme, born from a photo taken on November 17, 2018, helped inspire the viral $WIF coin—once boasting a multi-billion dollar market cap. To lock in its legacy, a photo of Achi and his parents was inscribed on the Bitcoin blockchain using Ordinals.

The hat is more than yarn—it’s internet culture frozen in time. With $WIF now trading at $0.909788, the Dogwifhat meme is more alive than ever.

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Ukraine is considering legalizing crypto but won’t allow it for payments, says NBU Governor. The country also tests its digital currency, the e-hryvnia.

Ukraine Crypto Legalization On the Table But NBU Draws the Line at Payments

Ukraine might be the next country to join the crypto-friendly club, but it’s being very clear on its boundaries. The National Bank of Ukraine (NBU) is exploring ways to legalize crypto, but it has no plans to let Bitcoin or other tokens be used for payments.

NBU Draws the Red Line

In an interview with RBC-Ukraine, NBU Governor Andriy Pyshnyy said crypto might play a role in Ukraine crypto’s financial future just not as money. “Virtual assets cannot be a means of payment,” he said, explaining it could hurt the bank’s ability to control the economy, especially in times of war.

That means while crypto might become legal, it won’t replace the hryvnia, and definitely won’t be used to bypass currency controls during martial law.

UKRAINE CRYPTO: Playing by Global Rules

Pyshnyy also emphasized that any crypto law must follow FATF standards and align with EU regulations, with clear systems to track transactions and prevent illicit activity.

At the same time, the bank is testing its own CBDC, the e-hryvnia, in partnership with tech developers. This pilot will help shape future decisions as the NBU watches how other global banks like those in France, Singapore, and Germany are building their own digital currencies.

Interestingly, a draft law proposed in June could even allow the NBU to hold Bitcoin in its national reserves a sign that Ukraine crypto’s future is getting real.

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