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09 августа 2023 15:12

🪙 Binance’s Latest Reserve Proof Report Reveals Shift From USDC To BTC And ETH

In its recent Proof of Reserve (PoR) disclosure on August 8th, Binance unveiled a significant reduction in its USDC balance from $3.4 billion on March 1 to $23.9 million on May 1. According to analyst Aleksandar Djakovic, the decline in USDC holdings coincided with Binance’s strategic move to purchase approximately 100,000 BTC and 550,000 ETH, amounting to about $3.5 billion, between March 12 and May 1.

The revelation of Binance’s USDC reserves and subsequent asset reallocation has generated significant attention within the crypto community. Notably, the topic gained prominence after Brian Armstrong, CEO of Coinbase, mentioned during the company’s Q2 earnings call that Binance had converted USDC to another stablecoin. As the cryptocurrency landscape evolves, major exchanges are continuously reassessing their asset management strategies. The shift from a substantial USDC balance to acquiring significant amounts of BTC and ETH illustrates Binance’s proactive approach to aligning its reserves with the evolving market trends. This strategic move not only diversifies the firm’s holdings but also positions the exchange to leverage the potential benefits of BTC and ETH.

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06 августа 2023 11:13

🔴 Avalanche Blockchain Usage Grew in Second Quarter: Nansen

Usage of Avalanche, the seventh-largest smart contract platform, more than doubled in the second quarter, even as users committed less of their cash to the system. Daily transactions on Avalanche C-Chain, an implementation of the Ethereum Virtual Machine, grew to just under 500,000 from roughly 200,000, and the number of daily active addresses ranged between about 25,000 and 117,000, settling around 95,000 at the end of the quarter, blockchain analytics firm Nansen said in a research report.

At the same time, DefiLlama data show the total value locked on the layer-1 blockchain slid almost 20% to $695 million in the period, moving similarly to the price of Avalanche's native token AVAX. Interoperability protocol LayerZero and Stargate, a cross-chain bridge that leverages LayerZero’s technology, both played a role in Avalanche’s growth as two of the top entities by users and transactions on the C-Chain, “which could indicate a potential airdrop opportunity,” Nansen said. Despite the crypto bear market, “the steady increase of active addresses, coupled with the rise in daily transactions, is indicative of healthy growth within the ecosystem and showcases the flourishing community supporting Avalanche,” said the report.

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03 августа 2023 20:04

💰 FTX Creditors Frustrated With Exchange’s Exit Plan To Get Out Of Bankruptcy

According to Cointelegraph, FTX creditors said they were “deeply disappointed” by the exchange’s draft bankruptcy exit plan and claimed the plan was ignored by FTX’s restructuring team. In a July 31 court filing, the FTX’s Official Committee on Unsecured Creditors (UCC) said that despite repeated requests and promises from the group, they “did not call or meeting” with FTX to discuss its draft Chapter 11 plan. On August 1, FTX creditors tweeted that FTX had submitted a restructuring plan. Primary information includes.

The proposed FTX restructuring plan indicates that in addition to establishing a “foreign exchange company,” the current FTX team is also considering the creation of a new trust company called “FTX Ventures Trust”. The trust will hold FTX’s investments in private startups as well as digital tokens that FTX does not plan to sell shortly after exiting bankruptcy. The trust’s purpose is to manage these long-term investments and distribute cash from them over time. FTX has yet to decide whether the trust will be owned by FTX’s bankruptcy assets or be traded separately after the bankruptcy. The goal is to find a way to maximize the value of these illiquid investments that FTX administrators cannot easily sell after bankruptcy.

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01 августа 2023 15:24

🟠 Binance Founder CZ Hints At New Stablecoin Partners Amid FDUSD Trading Halt

Binance, one of the world’s leading cryptocurrency exchanges, is set to announce new stablecoin partners soon, according to Binance founder Changpeng Zhao (CZ). During a recent AMA session, CZ revealed that alongside First Digital USD (FDUSD), the platform has plans to collaborate with additional stablecoin projects. While specific details are being kept under wraps for now, CZ assured users that Binance remains committed to supporting multiple cryptocurrencies, further enhancing the platform’s robust and diverse offerings.

In light of recent technical issues, Binance temporarily suspended trading for FDUSD to ensure utmost protection for users and maintain the integrity of the trading process. The precautionary measure aims to rectify the technical issues promptly and diligently, safeguarding users’ assets and providing a seamless trading experience. All trading activity involving FDUSD were temporarily paused as of July 26, 2023 at 09:45 (UTC), and any pending orders on FDUSD pairings were automatically canceled during this period. The halt in trading activities took effect. Trading pairs BNB/FDUSD, FDUSD/BUSD, and FDUSD/USDT that are spot-based are among those that have been impacted. The platform remains committed to promptly resolving the technical issues and has set a timeline for the trading halt.

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29 июля 2023 14:56

🇧🇷 $160 Million Ponzi Braiscompany Scammers Arrested By Brazilian Police

Brazilian authorities have arrested the main suspects involved in Braiscompany’s crypto fraud in an effort to protect investors and expose fraudulent activities. The detentions occurred in Foz do Iguaçu, near the Brazil-Argentina border, when the suspects are believed to have tried to flee the country. According to the report, those arrested were Arthur and Sabrina Lima, a couple suspected of being deeply involved in Braiscompany’s activities. Brazilian law enforcement has arrested three individuals believed to be involved in the activities of the now-defunct cryptocurrency brokerage, Braiscompany.

Police opened an investigation into the company, codenamed Operation Halving, earlier this year. And in an official statement, officials said that the latest phase of the operation has seen officials seize some $28.7 million worth of property in raids. Click on company-related addresses in São Paulo and Aracaju. One of the properties appears to be an office equipped with computer terminals and desks. Braiscompany came under closer scrutiny after investors voiced their inability to withdraw funds from the platform in December 2022. Earlier this year, the company, known for making promises to investors monthly interest of up to 8% on fiat or Bitcoin deposits, closed amid allegations of fraudulent activity. Following the closure, the company’s executives were suspected of fleeing with around $160 million in customer funds, prompting authorities to label the company a possible crypto pyramid scheme.

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26 июля 2023 09:24

🆘 ZkSync’s Largest Lender EraLend Suffered A $3.4M Attack

In a recent security breach, EraLend, the largest lending protocol operating on the Ethereum scaling blockchain zkSync, fell victim to a read-only reentrancy attack, resulting in a substantial loss of $3.4 million. According to blockchain security firm CertiK, the attack exploited a vulnerability in EraLend’s smart contract code, allowing the attacker to withdraw more funds than authorized within a single transaction. As a result of the exploit, the total amount of locked capital on EraLend dropped from $18.5 million to $7.7 million, as reported by DefiLlama.

The vulnerability that the attacker took advantage of involved a read-only function, typically considered safe due to its inability to modify the contract’s state. These functions perform view actions, such as calculating token balances, without altering any data. However, the hacker manipulated this function through a reentrancy exploit, repeatedly calling it to drain assets from EraLend. The exploit focused on a faulty price oracle that EraLend relied on, ultimately allowing the attacker to siphon off significant funds from the protocol. Era Lend addressed the incident promptly, suspending all borrowing operations and warning users against depositing USDC (USD Coin) until the issue is resolved. The team is actively working with cybersecurity firms and partners to investigate the attack and implement necessary security measures.

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23 июля 2023 15:41

🚨 Conic Finance Confirms Other Liquidity Pools Not Affected By Hack

In the latest announcement from Conic Finance, the DeFi protocol provided a detailed status update regarding the recent exploit that led to the loss of over 1,700 Ether (ETH), valued at over $3.2 million. The re-entrancy attack is a well-known vulnerability in smart contracts that allows attackers to repeatedly call a protocol, tricking it into transferring assets. In this case, the attacker took advantage of a discrepancy in the price data provided by the oracle, enabling them to manipulate the pricing system and withdraw the stolen funds.

Conic Finance has been proactively addressing the issue and is deploying a fix to the affected contract to prevent further exploits. The protocol has confirmed that the exploit cannot be performed again on the ETH Omnipool, and user withdrawals are secure. Additionally, they assured the community that no other Conic Omnipools were affected by this particular issue. The incident highlights the significance of oracle systems in DeFi, as they provide real-time price data for various assets. However, they also present a potential attack vector for hackers seeking to exploit vulnerabilities in the system. This exploit came shortly after another DeFi platform, Sturdy Finance, suffered a similar oracle manipulation attack that resulted in an $800,000 loss.

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21 июля 2023 12:45

📣 Blockchain Venture Fund LBank Labs Invests In Symbolic Capital To Fuel Web3 Innovation

LBank Labs, at the forefront of blockchain venture funding, announced its investment in Symbolic Capital. This strategic collaboration is poised to ignite innovation and provide robust support for the expansion of highly-scalable Web3 infrastructures worldwide. LBank Labs, known for its protocol and exchange-agnostic approach, is committed to supporting projects through direct funding, acceleration, incubation, and extensive networking.

Besides direct investments in projects, the team aims to build a strong fund network via investing in global top funds to support portfolios from the network in both financial and resource value-add. Czhang Lin, IC board member of Labs, is also personally LPs to NGC, Blockchain Founders Fund and Lemniscap, where Eric He, Co-Founder of LBank, is LP to SevenX Ventures fund I, II and FOF, and IOSG Ventures. As investors, LBank Labs is committed to fueling the growth of highly-scalable Web3 infrastructures and empowering innovative startups worldwide. The strategic investment in Symbolic Capital solidifies LBank Labs’ dedication to building the future of crypto and supporting the mass adoption of decentralized applications.

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19 июля 2023 09:16

🇬🇧 UK Financial Conduct Authority Plans To Strengthen Regulations On Crypto Promotions

The UK Financial Conduct Authority (FCA) has announced its intention to enhance regulations surrounding financial promotions on social media platforms. The proposed guidance aims to modernize the information provided by firms when advertising financial products or services online, taking into account the evolving landscape of social media advertising in the financial industry. One of the key objectives of the new guidance is to support the FCA’s Consumer Investments Strategy, which aims to reduce the number of retail consumers investing in high-risk investments.

In addition to addressing illegal and non-compliant financial promotions, the FCA will also focus on curbing promotions by financial influencers that may harm consumers. This includes a particular emphasis on influencers promoting cryptocurrency assets on social media platforms. To tackle these issues, the FCA plans to collaborate with the Advertising Standards Authority to increase oversight and scrutiny of illegal financial promotions and advertising practices. The regulators also aim to educate both consumers and influencers about the risks associated with promoting financial products. Starting from October 8, the FCA will implement several measures, including banning incentives for investing in cryptocurrencies such as “refer a friend” bonuses.

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17 июля 2023 09:22

💰 Ripple CEO Rejoices Landmark Court Ruling, New Development For XRP

Ripple Labs, the company behind the cryptocurrency XRP, received a major boost as Chief Executive Officer Brad Garlinghouse announced that a federal court ruling declared XRP “is not a security.”. The decision provides Ripple with increased flexibility to explore various business opportunities and promote a wide range of use cases for its technology. Speaking with Bloomberg, Garlinghouse expressed relief that he no longer has to worry about the regulatory implications of promoting Ripple and its services.

The court ruling, delivered by US District Judge Analisa Torres in New York, classified XRP as a security when sold to institutional investors but not when sold to the general public. This decision was seen as a victory for the crypto industry, as it challenged the US Securities and Exchange Commission’s (SEC) claim that XRP was an unregistered security. The SEC filed a lawsuit against Ripple in late 2020, accusing the company and its executives of misleading investors through the sale of unregistered securities. He highlighted that 95% of Ripple’s customers are located outside the United States, underscoring the significance of this ruling for the company’s global operations.

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15 июля 2023 17:06

💰 Sui Network Reaches Explosive Growth With 1 Million Active Addresses!

Sui network, a blockchain platform known for its focus on gaming, NFTs, and user-centric applications, has surpassed one million active addresses. This significant milestone comes less than 70 days after the launch of the Sui Mainnet, highlighting the rapid growth and adoption of the platform. By providing a platform for developers to create immersive games, unique NFTs, and user-friendly applications, Sui has attracted a dedicated user base that has helped drive the network’s rapid expansion.

Reaching one million active addresses within such a short timeframe is a testament to the enthusiasm and support from the Sui community. The network’s users, developers, and creators have played a crucial role in the platform’s success by building engaging games, captivating NFT collections, and compelling applications that have delighted users worldwide. The Sui team expressed their gratitude to the community, recognizing the collective effort that led to this momentous achievement. They praised the creativity and dedication of the Sui ecosystem, emphasizing that the success of the network is a direct result of the outstanding contributions made by its users.

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13 июля 2023 08:48

💰 New York Prosecutor Goes After Hacker Behind $9M Solana Exchange Heist

A former security engineer for an international technology firm has been arrested and charged for allegedly using a smart contract bug to steal $9 million in cryptocurrency from a Solana-based decentralized crypto exchange.The attack happened in July 2022, and the United States Attorney for the Southern District of New York Damian Williams has recently announced the first-ever criminal case involving an attack on a smart contract operated by a decentralized exchange (DEX).

The attack was carried out by exploiting a vulnerability in the exchange’s smart contracts to generate inflated fees with flash loans. These were then withdrawn and laundered through a series of complex transfers on the blockchain where Ahmed swapped cryptocurrencies, hopped across different crypto blockchains, and used overseas crypto exchanges. Although Williams did not disclose the DEX that was exploited in July, previous reporting from Cointelegraph reveals that an unknown hacker exploited Solana-based liquidity protocol Crema Finance on July 2, 2022, stealing $9.6 million in cryptocurrency. The exploiter later returned most of the funds but was allowed to keep $1.6 million as a white hat bounty.

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11 июля 2023 12:49

🚨 Poly Network Hacker Unites Stolen ETH In Dual Ethereum Addresses

In the ongoing aftermath of the Poly Network hack, it has been revealed that the exploiter responsible for the attack has consolidated approximately 566.4 ETH into the Ethereum address 0x712. Additionally, another 1,007.4 ETH has been transferred to the address 0xcC2bb, raising concerns about the fate of the stolen funds. The hacker exploited a vulnerability in the network’s smart contract, allowing them to gain unauthorized access and transfer funds to their control.

The consolidation of approximately 566.4 ETH into the address 0x712 indicates the perpetrator’s efforts to centralize their ill-gotten gains into a single location. This move raises questions about their intentions and potential plans for the stolen funds. Law enforcement agencies, blockchain analysts, and the crypto community at large are closely monitoring these transactions for any potential leads that could help recover the stolen assets. It remains unclear whether this address belongs to the hacker or if it represents an attempt to obfuscate the flow of funds. The tracing of these transactions poses a significant challenge due to the pseudonymous nature of blockchain transactions, but efforts are underway to identify and track the movement of the stolen assets.

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09 июля 2023 10:43

🆘 $63 million in USDC frozen by Circle following Multichain breach

USDC issuer Circle blacklisted three wallet addresses that received a significant outflow of funds from the cross-chain bridge platform Multichain in its potential security breach. Security firm PeckShield noted that about $63 million in USDC, part of the assets involved in the alarming outflow, has been frozen. The incident saw $126 million worth of crypto assets mysteriously transferred from Multichain’s bridge deployments on Fantom, Moonriver and Dogechain to various third-party wallets.

Following the incident, Multichain tweeted from its official account, “The Multichain service has currently stopped, and all bridge transactions will remain stuck on the source chains. There is no confirmed resumption time. Please refrain from using the Multichain bridging service for now.” Security firm PeckShield noted that about $63 million in USDC, part of the assets involved in the alarming outflow, has been frozen. The incident saw $126 million worth of crypto assets mysteriously transferred from Multichain’s bridge deployments on Fantom, Moonriver and Dogechain to various third-party wallets.

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07 июля 2023 11:43

🪙 Neo Partners With OKX To Launch APAC Hackathon

Hong Kong-based blockchain platform Neo has announced its partnership with OKX, a leading cryptocurrency exchange, to launch an exciting new hackathon in the Asia-Pacific region. The event will feature live competitions in six cities across Asia, allowing participants to engage in person. Additionally, virtual meetings will be organized to accommodate those who cannot attend physically, ensuring inclusivity and widespread participation. The Neo Foundation has allocated a generous bounty of $120,000 for the hackathon.

Participants in the hackathon will have the opportunity to explore innovative projects in five distinct categories: Decentralized Finance and Payments, NFT and Games, AI, Social and DAO, Infrastructure and Tools, and Comprehensiveness. The winners will be announced during the final round in Hong Kong and will receive NEO tokens as their well-deserved reward. The partnership between Neo and OKX is expected to create a synergistic effect, enhancing the influence of both organizations. As part of their collaboration, OKX will contribute to the hackathon through the use of non-fungible tokens (NFTs). This collaboration opens the door for the NFT teams to engage in technical exchanges with OKX’s Web3 team, fostering future collaborations and innovation.

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07 августа 2023 14:02

🏦 Bridged assets to Coinbase's Layer 2 top $100 million

Coinbase's Base has seen more than $100 million in value bridged over to the Layer2. As per L2beat, $111 million in crypto assets have bridged over to Base. Coinbase, which announced the launch of its own Layer 2 to scale out the Ethereum blockchain in February, said on August 3 that it would widen mainnet access next week in conjunction with the release of a bridge to Ethereum. Releasing an official bridge introduces a way for users to move tokens between the Base network and Ethereum.

Base's roll out is part of what Coinbase is describing as "Onchain Summer," which will see a number of brands--including Coca-Cola and OpenSea--collaborate with the crypto exchange on on-chain events. As reported by The Block's Vishal Chawla, Base’s developer-only mainnet went live on July 13 and was primarily accessible to developers. However, in the lead-up to the official launch, several users bridged assets to the network using a portal proxy contract and other unofficial bridges to trade new memecoins. That lead to a surge in activity on the network. It also led to a surge in profits generated by the Ethereum scaling solution. Profits generated from Base increased from around $13,000 on July 29 to over $430,000 on July 30.

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05 августа 2023 16:45

❕ The Sandbox Expands Offerings And Bolsters Security With KYC Verification

Hong Kong-based metaverse game, The Sandbox (SAND), has taken significant strides in fortifying its platform. As metaverses continue gaining traction, the key to their survival lies in continuously introducing fresh and engaging user experiences. The Sandbox has recognized this critical aspect and implemented various developments to enhance user security and compliance. One of the major updates introduced by The Sandbox is the implementation of Know Your Customer (KYC) verification for its staking process.

By enforcing KYC verification, the platform aims to ensure that users’ accounts are thoroughly verified before they can participate in staking or claim their earnings. While KYC has been a contentious topic in the crypto space, more prominent players are starting to adopt it as a means to combat bots and malicious actors. The Sandbox follows suit, prioritizing the safety and legitimacy of its user base. Verified users on The Sandbox can now deposit new SAND tokens and claim their weekly rewards securely. Although unverified users are still permitted to withdraw their SAND, the platform seeks to incentivize participation in the staking process through the added benefits for verified users.

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02 августа 2023 14:12

⚪️ The Position Of Curve Founder In Frax Finance Is Carrying Great Risks

In a recent Twitter update, Delphi Digital, a reputable crypto investment research institution, sounded the alarm over Curve Finance founder Michael Egorov’s significant exposure to Frax Finance. The report revealed that Egorov currently holds a staggering 59 million CRV collaterals and 15.8 million FRAX debt positions on the platform, overshadowing his holdings on Aave. While the position might seem smaller in size, the intricate dynamics of Fraxlend’s time-weighted variable rate pose substantial risks to the CRV ecosystem.

Delphi Digital’s analysis highlighted that at the current utilization rate of 100%, the interest rate on Fraxlend doubles every 12 hours, reaching a concerning 81.2% at press time, merely an hour ago. Alarmingly, this rate is projected to surge to an eye-watering 10,000% annual percentage yield (APY) within a short span of 3.5 days. Regardless of the fluctuations in the CRV price, such an astronomically high interest rate could eventually lead to the liquidation of Egorov’s position. With a position of such magnitude hanging in the balance, Delphi Digital expressed serious concerns about the impact on CRV prices, considering the limited liquidity in the ecosystem. An 8-figure liquidation of Egorov’s holdings could trigger a drastic depreciation of CRV value, potentially causing ripple effects throughout the DeFi ecosystem.

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31 июля 2023 11:28

🇺🇸 US State of Minnesota Okays Crypto Donations to Political Campaign Committees

The U.S. state of Minnesota has become one of the first states in the country to okay crypto donations to political campaign committees. Under the state’s new rules, which took effect in July 2023, recipients of crypto donations are nevertheless required to convert these to U.S. dollars within five days. According to a report by Axios, the crypto contributions must be valued at the digital assets’ respective prices when the donations were made. In the event of the prices changing within the five-day grace period.

Minnesota’s decision to allow crypto contributions was made after the state’s Campaign Finance & Public Disclosure Board received inquiries from campaign teams which wanted to know the procedures for accepting crypto donations. According to Jeff Sigurdson, the CEO of the state’s political finance and disclosure body, these inquiries in turn prompted it to ask legislators to look into this. Although the state has okayed crypto contributions, prospective recipients of such donations are still wary of digital assets’ volatility. The identity of crypto donors is also another key concern for the campaign committees. Meanwhile, U.S. congressman Ken Martin is quoted.

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27 июля 2023 08:22

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24 июля 2023 14:06

📣 Superblock Raises $8 Million in Funding For Over Protocol Lightweight Node Protocol

Superblock, the visionary developer behind the cutting-edge Over Protocol lightweight node protocol, has successfully secured a total of US$8 million in funding across two funding rounds. Prominent investors, including SK, Netmarble, DSC, E&Investment, Schmidt, SpringCamp, and NaverZ, actively participated in the funding, reaffirming the growing interest and confidence in Superblock’s groundbreaking technology.

Earlier this year, in February, Superblock had already announced a triumphant Series A funding round, amassing a substantial 9 billion won (approximately US$7.22 million) in investments. Notably, major Korean companies, venture capital funds, and industry giants such as SK, Netmarble, DSC Investment, E&INVESTMENT, and Schmidt were among the backers who recognized the immense potential of Superblock and its innovative protocols. Superblock’s inception in 2021 laid the foundation for the development of Over Protocol, a powerful L1 blockchain solution that offers lightweight full nodes. This unique and game-changing feature enables seamless and efficient interactions within the blockchain.

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21 июля 2023 13:15

🔵 Since the “Shapella” upgrade in April 2023, which allowed staked ETH to be withdrawn, the amount of ETH staked has increased by 26.37% and the number of validators has increased by 26.63% — link

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20 июля 2023 16:15

💰 Sui Network Sets New Transaction Record With 99% Contribution from Sui 8192 Game Chain

Sui Network has achieved a remarkable milestone, with on-chain data revealing that the number of daily transactions has surged to an unprecedented 28.63 million, marking a new all-time high since the launch of its mainnet. The Sui Network’s skyrocketing daily transaction volume showcases the platform’s growing popularity and adoption within the blockchain community. The network’s ability to handle such a massive number of transactions further highlights its scalability and efficiency, fostering a seamless user experience.

The blockchain game Sui 8192 has played a pivotal role in this surge, capturing the attention and engagement of users. Its innovative gameplay and interactive features have attracted a significant user base, resulting in a staggering number of transactions being conducted within the game ecosystem. The dominance of Sui 8192, accounting for approximately 99% of the total daily transactions on the Sui Network, underscores the game’s popularity and its significant contribution to the platform’s overall transaction volume. The game has succeeded in creating an immersive experience for players, fueling engagement and driving the network’s growth.

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18 июля 2023 11:10

💰 Sui Blockchain Breaks 29 Million Transactions With Launch Of On-chain Game

Record-high transactions on Sui blockchain fueled by first on-chain game Sui 8192. Potential to revolutionize gaming industry with persistent digital assets. The game is a sliding tile game where players use their arrow keys to shift and combine tiles until they reach a tile worth 8192. Despite its simplicity, Sui 8192 has the potential to revolutionize the gaming industry. On-chain games are becoming increasingly popular as they are ubiquitous and can be played from any device connected to the internet.

Sui 8192 is a dynamic NFT, exhibiting the unique properties of NFTs on Sui in that it can change its appearance based on user inputs. It demonstrates many interesting new use cases for NFTs, such as using an NFT for an app’s interface. Ethos was programmed as the first wholly on-chain Sui game. Each newly minted Sui 8192 object contains the game logic, while the interface was coded in javascript, CSS, and HTML. Sui is a layer-1 blockchain launched in May 2023 and was touted at the time as a “Solana killer.” SUI prices were down 0.5% on the day at $0.678 at the time of writing. This capability sets an example for other apps, such as collaborative productivity tools.

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16 июля 2023 15:25

📣 OPNX Now Offers Immediate Liquidity for FTX and Celsius Network Bankruptcy Claims

In a move aimed at providing relief to users affected by the collapse of crypto exchange FTX and lender Celsius Network, the Open Exchange (OPNX) has announced the availability of trading for their bankruptcy claims. This development allows users to monetize their claims and regain control over their funds, according to a press release. FTX, which faced a substantial collapse in November, owes its customers as much as $8 billion, contributing to a broader market downturn. On the other hand, Celsius Network owes around $4.7 billion to its users, as stated in its bankruptcy filing.

By selling their claims on OPNX, users will receive the platform’s native tokens, reborn OX (reOX) or oUSD, the profit-and-loss currency of the platform. These tokens can then be utilized as collateral for trading on OPNX. Claims are currently trading at approximately $0.30 per dollar on OPNX’s competitor, Claims Market. Mark Lamb, the founder of OPNX, emphasized the benefits of claim tokenization, highlighting that it provides customers with liquidity, control over their funds, and the opportunity to participate in market activities once again. The platform was co-founded by Mark and Leslie Lamb, known for their involvement with CoinFlex, alongside Kyle Davies and Su Zhu from Three Arrows Capital. FTX and Celsius Network both filed for Chapter 11 bankruptcy protection in the latter half of the previous year .

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14 июля 2023 13:21

🏦 Huobi Addresses Asset Decline Speculations, Blames Data!

Huobi has responded to recent comments circulating on social media regarding an alleged “asset decline.”. According to Huobi’s analysis, the data collected by Glassnode fails to accurately reflect the current state of HB’s assets. It was discovered that the main hot wallet and cold wallet addresses used for asset storage have undergone changes since the data was collected. Furthermore, HB’s assets are distributed across multiple chains, including 400 million USDT on TRON, 6,500 TRC20 BTC, and partial collateralization of ETH as an ETH validator.

Huobi has taken proactive steps to establish contact with Glassnode, urging them to update the necessary data. HB recognizes the importance of accurate and up-to-date information to maintain transparency and provide an accurate picture of its asset holdings. Huobi recently revealed the Merkle tree asset reserve certificate for July 1st. The total assets held by users on the Huobi platform have surpassed $3 billion, demonstrating the significant trust and participation of the user base. It is crucial for accurate data to be utilized in assessing the financial health and performance of platforms like HB. HB’s efforts to rectify the inaccurate data provided by Glassnode demonstrate their commitment to transparency and ensuring accurate reporting to the crypto community.

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12 июля 2023 17:29

🏦 Cboe reaches surveillance agreement with Coinbase for spot bitcoin ETFs

Cboe on Tuesday submitted amendments for five proposed spot bitcoin ETFs to say that it has “reached an agreement on terms” with Coinbase to enter into surveillance sharing agreements. The changes were made for 19b-4 filings for the Wise Origin Bitcoin Trust, WisdomTree Bitcoin Trust, VanEck Bitcoin Trust, Invesco Galaxy Bitcoin ETF and ARK 21Shares Bitcoin ETF. The race is on for a spot bitcoin ETF as more and more firms, including big names such as BlackRock and Fidelity, have listed Coinbase as a surveillance sharing partner.

The U.S. Securities and Exchange Commission has not yet approved of a spot bitcoin ETF, and proposals could face headway from the agency as it has repeatedly cited concerns of fraud and market manipulation when assessing previous applications over the years. “On June 21, 2023, the Exchange reached an agreement on terms with Coinbase, Inc. (‘Coinbase’), an operator of a United States-based spot trading platform for Bitcoin that represents a substantial portion of US-based and USD denominated Bitcoin trading, to enter into a surveillance-sharing agreement (‘Spot BTC SSA’) and executed an associated term sheet,” the exchange said in one of the amendments. Previous filings said the exchange was expecting to enter into that agreement.

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10 июля 2023 11:34

💰 Marathon mined 21% less bitcoin in June partly due to bad weather in Texas

Marathon Digital Holdings, a bitcoin (BTC) mining company with operations in the United States and the United Arab Emirates, has revealed that its performance in June was mixed, partly because of bad weather. In the last month of H1 2023, the miner produced 979 BTC, marking a 21% decrease from May. The decline in production was attributed to weather-related constraints in Texas and a significant reduction in bitcoin transaction fees in June.

Despite this contraction, Marathon achieved notable milestones in other operations. For instance, the report reveals that the miner posted a 16% month-over-month increase in its operational hash rate, reaching 17.7 EH/s. Moreover, the installed hash rate rose by 8% to 21.8 EH/s. Notably, these improvements are a year before Bitcoin slashes mining rewards by half in 2023. Roughly every four years, the Bitcoin network automatically halves rewards, a development that not only makes bitcoin scarce but historically tends to support prices. Besides capacity increment, Marathon also announced a new joint venture in Abu Dhabi, which commenced hashing activities earlier in the week.

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08 июля 2023 12:36

🟠 CZ Responds To Reports Of 3 Binance Senior Executives Resigning

Binance CEO Changpeng Zhao (CZ) responded to reports of “three Binance executives resigning” on Twitter. He said the reports about their reasons for leaving were utterly untrue. CZ also confirmed that it will continue to grow and continue to recruit. Earlier today, Fortune magazine cited three Binance executives who resigned this week as Binance General Counsel Han Ng, Chief Strategy Officer Patrick Hillmann, and Senior Vice President of Compliance. Prime Minister Steven Christie.

Reportedly, their departure is related to the reaction of Binance founder Zhao Changpeng to the ongoing investigation by the US Department of Justice. Hillmann later confirmed his departure on Twitter and said he would “continue to respect and support” Changpeng Zhao. According to previous news, Matthew Price, Binance’s senior director of investigations, recently resigned. Despite the difficulties, Binance and Coinbase staged a counter-attack by protesting the charges from the SEC and asserting their compliance with US laws. This is a bright spot, helping exchanges focus on restoring user confidence and proving their credibility. Binance has been under strain for months amid regulatory investigations that have severed many of its key banking relationships globally.

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06 июля 2023 17:57

📺 WATCH: BRICS (Brazil, Russia, India, China, South Africa) plans to introduce new gold-backed currency.

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