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03 мая 2023 07:42

📣 Axelar enables Sommelier DeFi vaults to connect to Arbitrum

Interoperability protocol Axelar has enabled Sommelier, a yield optimization protocol on Cosmos, to become a cross-chain application by connecting it with Ethereum Layer 2 network Arbitrum One. Sommelier's DeFi vaults automatically rotate capital across different assets and let users optimize yields on their crypto assets through lending and trading services. These DeFi vaults operate on Sommelier's own blockchain in the Cosmos ecosystem and Ethereum, and now they will be available on Arbitrum.

"At Offchain Labs, we are delighted to welcome high-caliber protocols such as Sommelier who focus on finding innovative ways to improve capital efficiency in DeFi on Arbitrum One," said Peter Haymond, senior partnership manager at Offchain Labs. Sommelier will utilize Axelar's General Message Passing (GMP) protocol. This is a general-purpose communication protocol between the Cosmos ecosystem and blockchains that support Ethereum-based smart contracts, like Arbitrum. "Sommelier has pioneered the architecture for non-custodial access to sophisticated DeFi strategies. Axelar GMP enables Sommelier to pass strategy instructions to vaults on Arbitrum One.

Source

@TradeCryptoNow

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01 мая 2023 05:07

💰 YouTube helps recover hacked channel that attempted XRP crypto scams

YouTube’s swift intervention ensured damage control by preventing XRP hackers from interacting with the channel’s subscribers. Prominent YouTuber DidYouKnowGaming was able to regain access to his YouTube channel, which an anonymous bad actor hacked to promote XRP cryptocurrency scams. While hacking into YouTube channels to promote scams has been a long-standing method of targeting unwary investors, the number of creators on the platform reporting hacks has increased.

After gaining access to the account, the hacker changed the YouTuber’s profile and cover images to Ripple’s logo, as shown below. YouTube’s swift intervention ensured damage control by preventing XRP hackers from interacting with the channel’s subscribers. Recently, one of the largest YouTube creators, Linus Tech Tips, also reported losing access to his channels. While the exploit used by the hackers to gain access to YouTube accounts remains a mystery, the victim YouTubers have always been able to recover their accounts and deleted videos, if any. Hackers often create deepfakes of Tesla CEO Elon Musk and other entrepreneurs to misguide crypto investors.

Source

@TradeCryptoNow

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29 апреля 2023 04:53

🏦 Coinbase Fights Back: Responds To SEC’s Wells Notice With A Call For Clarity

Coinbase responds to SEC’s Wells notice, stating that it operates within the regulatory perimeter and welcomes a true dialog about a workable path forward for the cryptocurrency industry. Coinbase is currently facing regulatory issues with the United States Securities and Exchange Commission (SEC). The SEC has issued a Wells notice against the exchange, which is a notification that enforcement actions may be taken against the firm.

To appeal the notification, Coinbase’s executives spoke publicly about the issue. Chief legal officer Paul Grewal spoke at Consensus 2023 and appeared on YouTube in a video with CEO Brian Armstrong. Grewal stated that Coinbase has been operating within the regulatory perimeter since it was approved for listing on the Nasdaq stock exchange two years ago. This suggests that the exchange has been operating within the regulatory perimeter and that any regulatory concerns arise from a lack of clarity or interpretation of relevant laws. Grewal also stated that Coinbase is already regulated and has a New York state “BitLicense” that prohibits the exchange from listing securities.

Source

@TradeCryptoNow

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27 апреля 2023 18:25

USDFI Revolutionizes DeFi with its ownUniversal Banking Protocol

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26 апреля 2023 04:22

🏦 Base Testnet Will Plan For Its First Regolith Hardfork Upgrade On April 27

Ethereum’s L2 network Base testnet has revealed that the first hard fork will take place on April 27. Base, an Layer 2 network, announced that its Goerli testnet would undergo a “Regolith hardfork” update on April 27 at 10:00 a.m. PT. This is the test net’s first hard fork. To keep in sync, nodes must be updated to node v0.1.1, and the upgrade has no impact on users who are not running nodes.

The update comes after the Optimism Regolith hardfork upgrade on March 17, and it is triggered by making timestamp-based configuration modifications to the OP Stack’s rollup nodes and execution engines. Coinbase created Base, and the blockchain employs a mechanism known as Optimistic Rollup, which assumes all transactions are correct and will take action if fraud is found. It is created on Optimism’s (OP) open-source technology. Coinbase debuted the network testnet on February 23, 2023, and it is being developed for mainnet deployment as Ethereum Layer 2. Base is being developed inside the exchange and will be decentralized progressively over the following several years. Nevertheless, there are no plans to create its own coin, and the network pays for gas using ETH.

Source

@TradeCryptoNow

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25 апреля 2023 05:42

📣 Gopax Being Required For Risk Review To Complete Deal With Binance

According to Edaily, South Korean banking authorities have requested the Korean exchange Gopax do another risk assessment. Financial regulators are now analyzing the virtual asset service provider (VASP) change report provided by Binance when it bought Gopax, and the evaluation findings are not anticipated until mid-May. On April 23, the Financial Supervisory Agency ordered Jeonbuk Bank to undertake a risk assessment on the exchange.

Normally, risk assessments are performed once a year, but Gopax got it in August of last year, leaving 3 to 4 months. The abrupt risk assessment is intended to be represented in the change report review. The examination of Gopax’s change report is taking longer than planned. On March 6 of last month, the exchange filed a change report to the Financial Services Commission’s Financial Intelligence Unit (FIU) as the major shareholder shifted to Binance and there were changes in registered executives. The FIU was supposed to notify the review outcome by the 19th, within 45 days of receiving the change report, but it has prolonged the review time by demanding document supplementation.

Source

@TradeCryptoNow

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23 апреля 2023 05:57

💰 Solana Introduces New Real-Time Carbon Emissions Dashboard To Limit Bad Impact

The Solana Foundation has announced real-time emissions monitoring for the Solana blockchain, which is a huge step toward sustainability. The foundation worked with Trycarbonara, a carbon data platform, to develop an emissions tracker that would be embedded in Solana nodes. According to the foundation’s blog, this is the first large smart-contract blockchain to quantify carbon emissions in real-time.

Solana will begin frequently updating a dedicated dashboard with statistics tracking important environmental parameters for the network, including energy usage, carbon footprint, and network power intensity, among other data, starting today. The dashboard receives real-time data from software placed on the validator nodes, although it is only updated every two weeks. The emissions tracker, created in partnership with the carbon data portal Trycarbonara, collects information from on-chain data as well as data directly obtained from a representative sample of Solana validators. According to Carbonara’s dashboard, Solana’s servers released 10,651 metric tons of carbon dioxide in the 12 months before April 1, 2023.

Source

@TradeCryptoNow

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21 апреля 2023 05:45

📣 Bankman-Fried’s Attorneys Having Trouble Monitoring His Parents’ Phone

According to Decrypt, attorneys representing Sam Bankman-Fried said that they had experienced unforeseen problems while seeking to comply with the court’s particular bail requirements. The problem is that he installed software on his parents’ cellphones that took images of the user every five minutes in order to continually monitor who was using them. The defense claimed it is looking at other ways to monitor Bankman-Fried’s parents’ mobile phones, as required by the ruling.

Although the type of phone used was not mentioned, current smartphones have improved their security protections, such as app sandboxing, a security approach that isolates programs in a limited environment, safeguarding the device’s operating system and other data from possible damage. It establishes a “safe zone” for programs, reducing the effect of harmful malware or vulnerabilities. Apple released a new lockdown mode for iOS 16, iPadOS 16, and macOS Sierra in October. The optional security feature is intended for users who are vulnerable to sophisticated digital threats, and it restricts device functions such as online surfing limitations and limits incoming FaceTime calls to decrease spyware exposure.

Source

@TradeCryptoNow

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19 апреля 2023 07:22

🪙 Staked ether deposits surpass withdrawals for the first time since Shapella upgrade

The surge in outflows of staked ether seen after Ethereum's Shapella upgrade enabled withdrawals for the first time has stopped after less than a week, with traders once again staking more ether than they're unlocking. Over the past 24 hours, nearly 95,000 ETH was deposited and just over 27,000 ETH was withdrawn, creating a net positive flow of almost 68,000 ETH, according to data provider Nansen.

Even so, the total amount of ether pending withdrawal remains just under $2 billion in value at nearly 927,000 ETH. That's down approximately $1 billion from its post-Shanghai high of over $3 billion. Though the analysts claim that withdrawals may continue to grow in the short term, they also noted that withdrawals do not necessarily indicate an intent to sell. Instead, users may rotate their withdrawn ether to different validators or staking providers. Indeed, the price of ether has broadly increased alongside Ethereum's Shanghai upgrade. It is currently trading above $2,100. The Shapella update for Ethereum — the first significant modification since the protocol shifted away from the energy-intensive proof-of-work.

Source

@TradeCryptoNow

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17 апреля 2023 09:43

📣 Zipmex Investor Reneges on 100% Payment, Now Seeks to Slash Buyout Deal

Zipmex’s investor is proposing a new deal that would see them pay the crypto exchange’s creditors far less. Zipmex’s rescue plan could face some challenges as the crypto exchange’s investor is now asking to pay a fraction of its debt, as against the pledge to make a 100% payment. The distressed company is, meanwhile, planning to further extend its creditor protection to seek out new investors.

Zipmex’s investor is proposing to pay the Thai crypto exchange’s creditors about 10 to 20 percent of the amount owed to them, as stated in a letter the firm wrote to the court in charge of its restructuring. The investor’s new proposal is significantly different from the original buyout proposal, which promised to make a full payment to creditors. As previously reported by CryptoPotato, V Ventures signed a deal with Zipmex in December 2022 to acquire 90% of the troubled crypto exchange for $100 million in cash and crypto tokens. The crypto part of the payment was supposed to be used to gradually unlock customers’ frozen wallets by April 2023.

Source

@TradeCryptoNow

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15 апреля 2023 07:37

💰 Arizona Governor Opposes State Bitcoin Mining Support Bill 1236

Arizona’s governor, Katie Hobbs, used her veto authority to oppose legislation that would have generally prohibited local governments from charging persons and businesses who maintain blockchain nodes. Arizona Senator Wendy Rogers proposed the measure that Governor Katie Hobbs just rejected in January. The bill’s adoption would have made Bitcoin legal cash in the state and barred municipalities from taxing domestic cryptocurrency mining.

Arizona Bill 1236, initiated in January, attempted to reform blockchain-related legislation, primarily by reducing or eliminating state-level supervision and node operator fees. According to Hobbs, the measure prevents municipal policymaking about a new and possibly energy-intensive economic sector. She also said that the bill fails to include local stakeholders. As a result, her veto might allow for more stringent control of cryptocurrency mining. Hobbs’ letter implies that she has vetoed Senate Bill 1236. This law seeks to guarantee that taxes and levies levied on blockchain mining node operators are a statewide problem rather than a local or regional one.

Source

@TradeCryptoNow

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13 апреля 2023 07:35

🪙 Ethereum rewards worth over $2 billion will be liquid in first five days after Shapella

More than 1.1 million ether — worth $2 billion — in accrued validator rewards will be available to be claimed, according to on-chain estimates, following Ethereum's Shapella upgrade set to take place today. Shapella will finally allow users and validators to access their staked ETH, which has been inaccessible since Ethereum introduced its staking layer, the beacon chain, in December 2020.

The upgrade will enable regular depositors, independent validators and those utilizing staking service providers to access rewards accumulated over the past two years. These rewards will be paid out in "partial withdrawals" representing 6% of the total 18 million ETH currently staked on the network. Two withdrawal options will be available through the Shapella upgrade: partial and full. Partial withdrawals will be distributed to validators automatically, maintaining their validator balance at 32 ETH. In contrast, full withdrawals involve closing the validator and recovering the entire staked balance.

Source

@TradeCryptoNow

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11 апреля 2023 08:46

📣 Justin Sun: SEC Lawsuit Doesn’t Affect TRON and Huobi’s Expansion Plan

Today’s interview with TRON founder, Justin Sun, revealed the SEC’s allegations failed to affect TRON’s business and Huobi’s expansion plans. TRON founder Justin Sun recently accepted an exclusive interview with Wang Feng, editor-in-chief of FT Chinese Network. During the interview, Justin Sun answered market concerns such as the SEC’s response plan, Huobi’s situation as a WTO ambassador.

Sun stated that the U.S. Securities and Exchange Commission (SEC) lawsuit did not have a material impact on the business and users of TRON and BitTorrent and that the related case does not involve Huobi. Previously, there were some comments that the SEC lawsuit and the TRON founder’s tension could affect Huobi’s development plans because he is responsible for being a global advisor for Huobi. In the interview, he said that the legal team would handle the SEC’s response to the lawsuit and that the case would not affect Huobi’s plans to move its Asia headquarters to Hong Kong. Regarding handling recent HT currency price fluctuations.

Source

@TradeCryptoNow

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09 апреля 2023 08:10

📣 Starknet Warns Users Should Beware Of Scams Airdrop

Through the recent airdrop of Arbitrum, the crypto community is excited and really wants other Layer 2 to “learn” to follow. However, this is also the time for scammers to take advantage of stealing user assets. There is a good chance that Starknet will have a native token airdrop, however, now is not the time. The Ethereum Layer 2 network Starknet tweeted a reminder that there are currently a large number of false private messages.

Starknet employs ZK-Rollups technology, which allows dApp developers to create dApps of any size while maintaining the security inherited from Ethereum. The contract and the Starknet operating system are built in Cairo, a programming language that allows for the deployment and scaling of dApps that aren’t bound by business logic. It is no coincidence that the news related to the airdrop has been very hot recently, an airdrop of one of the leading Layer 2 platforms like Starknet will be a driving force to attract the community. Here are some fake news that Coincu collected:

Source

@TradeCryptoNow

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07 апреля 2023 06:37

📣 GMX Proposed Allocate 1.2% Of Fees Revenue To Chainlink’s New Services

In order to make its protocol more durable and decentralized, GMX has recommended Chainlink as an Oracle partner for its V2. The proposal proposes allocating 1.2% of the protocol fees earned by the GMX Protocol to the services of Chainlink and the Chainlink Network for future development and technical support of their low-latency Oracle solution used by the protocol. Protocol fees include user costs, which are presently intended to include position open/close fees.

Chainlink’s new low-latency oracles were created to meet the demands of perpetual exchanges and other price-sensitive DeFi products by delivering granular real-time market data for crypto and non-crypto marketplaces on the V2. This proposal introduces a necessary infrastructure solution and development partner to assist GMX with its important oracle-related requirements, closely aligning Chainlink with GMXs continuing expansion as a leading decentralized perpetual exchange. If governance accepts the use of low-latency Chainlink feeds for GMX V2, Labs, and contributors are ready to execute the necessary agreements and revisions to include them in the protocol.

Source

@TradeCryptoNow

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02 мая 2023 06:07

🆘 $93.4 Million Was Stolen In 41 Crypto Hacks In April

The recent market rally has created a wave of interest in the crypto community. However, as the industry grew, so did security concerns and the possibility of theft. In the past month, crypto-related theft has also recorded numbers worth considering. PeckShield’s monitoring showed that in April this year, 41 hacking incidents occurred, with a total of $93.4 million stolen. As of April 30, 1245 ETH and 2515 BNB were transferred to Tornado Cash, and 203 ETH were transferred to Fixed Float.

Additionally, “jaredfromsubway.eth” earned at least $1.4 million from sandwich attacks involving PEPE. The “jaredfromsubway.eth” was wedged between crypto traders, mostly those wagering on tokens like PEPE and CHAD. Sandwich bots are early adopters of freshly released tokens like PEPE and CHAD – meme currencies with no inherent value that captured the attention of Crypto Twitter degens virtually overnight as the tokens skyrocketed over 10,000%. CertiK, a crypto security and auditing company, also published an April overview of crypto vulnerabilities, scams, and hacks, indicating a total loss of $103.7 million in April, increasing the year-to-date total loss to $429.7 million.

Source

@TradeCryptoNow

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30 апреля 2023 04:41

📣 Global Crypto Regulation Needs Coordination, Not Duplication, Legal Experts Say

Crypto regulatory frameworks need to be coordinated internationally but tweaked to meet local differences, legal experts said at a panel during Consensus 2023 here on Friday. Regulators worldwide have been working for several years to determine how best to coordinate international crypto regulation. Earlier this month, the European Parliament approved the European Union’s crypto-assets framework, the Markets in Crypto-Assets (MiCA) regulation.

"So I think the specific concerns that the U.S. has on how you deal with the definitions of the security may not necessarily apply in other jurisdictions," he said. "There is no commonly accepted definition of a security worldwide." Global rules for crypto will be suggested in September by global standard setters, the IMF and the Financial Stability Board (FSB). Individual countries are also pushing ahead with issuing crypto rules. "I think international securities regulation and international regulation as a whole recognizes that there's a need for some level of convergence."

Source

@TradeCryptoNow

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28 апреля 2023 05:43

📣 Lens Protocol Launches Optimistic Layer 3 Scaling Solution Bonsai Project

Lens Protocol released a beta version of Bonsai, a blockchain scaling solution, as the blockchain-based social media project prepares to manage a higher number of transactions for users of Lens-based decentralized applications. The method enables the processing of a huge number of transactions while incurring minimum expenses, solving one of the primary issues that these platforms confront. In this manner, it may be able to sidestep the block space constraints of Ethereum and other blockchains.

Lens Protocol is a blockchain system that enables users to create a portable social graph, or digital network, between themselves and others. When users connect with another individual on one Lens app, such connections may be transferred to any other app built on the protocol. The Lens team noted in a technical paper connected to the announcement that the Polygon network could not meet the transaction volume or data-storage demands of large-scale social media applications, necessitating the creation of a new optimistic L3 hyperscaling data solution. according to the document, can only manage up to 200 transactions per second (TPS), while the previous edition of Lens Protocol could only handle 40 to 50 TPS.

Source

@TradeCryptoNow

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27 апреля 2023 05:14

💰 Solana’s ChatGPT Tool Delivers Cutting-Edge On-Chain Data

Solana Labs recently announced a ChatGPT plugin that will be added to their blockchain platform. This plugin will allow chatbot users to use the Solana blockchain and interact with it. The plugin will be able to perform various tasks such as checking wallet balances, transferring tokens, and even purchasing NFTs. In one screenshot, a user is shown asking for a list of NFTs owned by a particular Solana address.

According to technical details on GitHub, the ChatGPT plugin can retrieve data about account balances, assets held, transactions, signatures, NFT collections, and much more. Developers can also create their own plugins using the project’s source code. While Solana Labs has not yet stated when the ChatGPT plugin will be launched for general use, the project’s GitHub page suggests that the plugin can currently be installed as an unverified plugin by using the address: https://solana-gpt-plugin.onrender.com. Binance recently launched a ChatGPT-powered “Sensei” chatbot on April 24. Similarly, Visa announced plans to hire an AI-focused blockchain developer on the same day.

Source

@TradeCryptoNow

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25 апреля 2023 08:49

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24 апреля 2023 06:15

💰 Helium Completes High-Profile Migration To Solana, HNT Token Skyrockets by 11%

The migration of the Helium Network to the Solana blockchain marks a significant milestone for the project. With the upgrade now complete, the network is expected to experience improved scalability and reliability. According to Abhay Kumar, the Helium Foundation’s chief executive, this will be made possible by the faster transaction speeds and new smart contract capabilities offered by the Solana blockchain.

In addition to these benefits, the migration has also freed up the core developers from the task of maintaining a layer-1 blockchain. This, in turn, will enable the Helium Foundation and other contributing organizations to direct more resources towards their shared goals of accelerating the growth of decentralized wireless networks and bringing new applications that create economic efficiencies and close the digital divide. This allows IoT devices connected to the network to communicate and share data seamlessly, while also providing a platform for participants to earn HNT tokens for validating coverage and providing wireless hotspots.

Source

@TradeCryptoNow

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22 апреля 2023 06:12

📣 Trezor Puts Privacy First By Refusing Coinjoin UTXOs

Trezor, a hardware wallet manufacturer, has been making headlines recently due to concerns about censorship. To address these concerns, Trezor has implemented measures to ensure that certain UTXOs (Unspent Transaction Outputs) are denied entry into the coinjoin coordinator. According to a representative from the company, this is done to protect the privacy of other users who may be associated with these UTXOs.

Trezor acknowledges the sensitivity of the matter, the company emphasizes that their refusal to allow certain UTXOs into the coinjoin coordinator is done with the aim of supporting coinjoin transactions and providing individual users with privacy. It is important to note that no on-chain data analysis company receives any coins, instead, a risk score is returned based on the UTXO entering the coinjoin. Some UTXOs may be refused if they are flagged as under scrutiny based on the risk score. Trezor also confirms that they cannot check individual users or track or report on their activity since coinjoin is enabled via Tor, the anonymization network, and block filters are used.

Source

@TradeCryptoNow

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20 апреля 2023 06:16

🪙 PancakeSwap Leaders Propose Cutting CAKE Token Inflation Target to 3%-5%

Project leads at the decentralized crypto exchange PancakeSwap on Tuesday proposed lowering the inflation rate target for its native CAKE token to 3%-5%, a drastic cut from its current rate above 20%. Inflation in this context refers to growth in the supply of a token; lower inflation could lead to higher token prices, based on the rules of supply and demand.

The “version 2.5” tokenomics proposal would move CAKE toward a “deflationary model” by slashing the token rewards paid to traders and stakers by over 68%. The so-called CAKE “emissions” on Syrup Pool, PancakeSwap’s main liquidity pool on BNB Smart Chain, would drop by 94% under the proposal. “Our discussion proposal aims to transform from the high-inflation CAKE staking model to a low-inflation model with real yield and utility,” a PancakeSwap employee with the screen name Chef Brie said on the exchange’s Discord server. PancakeSwap employee who did not immediately respond.

Source

@TradeCryptoNow

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18 апреля 2023 07:39

🟠 Binance To Move SHIB Out Of Innovation Zone For Official Trading

Binance has announced that on April 18, 2023, it will move four tokens, SHIB, FXS, TWT, and 1INCH, from the Innovation Zone to the official trading zone. The Innovation Zone was created to provide a safe trading space for new projects, and Binance periodically reviews the projects to ensure they meet the required standards. The decision to move the tokens was based on recent reviews, and the projects that meet the high standards will be moved out of the Innovation Zone.

When Binance conducts its periodic project review, it considers several factors, including the team’s commitment to the project, the level and quality of development activity, trading volume and liquidity, stability and safety of the network from attacks, network/smart contract stability, level of public communication, responsiveness to periodic due diligence requests, evidence of unethical/fraudulent conduct or negligence, and contribution to a healthy and sustainable crypto ecosystem. Binance is constantly reviewing its projects to ensure the safety and sustainability of its trading platform. This move will provide traders with more trading opportunities and a greater sense of security when trading these tokens.

Source

@TradeCryptoNow

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16 апреля 2023 08:14

📣 Consensys Confirms 7,000 MetaMask Users Affected in Recent Breach

Consensys announced on Friday that thousands of MetaMask users had their personal data breached after contacting customer support over an 18-month period. The blockchain software company disclosed that approximately 7,000 individuals had their private information, including email addresses, compromised between August 2021 and February 2023. According to Consensys, MetaMask’s browser extension and mobile app users were not affected by the breach.

The data breach occurred when fraudsters targeted a third-party service provider that MetaMask uses to create customer support tickets, Consensys explained. As a result, unauthorized actors gained access to the third-party service provider’s systems, enabling them to seize personal data belonging to MetaMask users who had submitted their data to the company’s customer support. Although the compromised data mostly included “limited” personal information required for identifying customers for support needs, users may also have shared additional information in the chat function that was seized. Consensys has since put a stop to the unauthorized access, and the threat is no longer ongoing.

Source

@TradeCryptoNow

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14 апреля 2023 08:10

📣 Euler Under Legal Threats If It Doesn’t Return $2M To DeFi Nexus Mutual Insurer

DeFi insurance company Nexus Mutual is demanding a $2 million refund from claimants of the Euler hack after the team got most of the money back from the hacker. Previously, Euler was hacked for $200 million, but the perpetrator returned almost all the money. So Nexus Mutual covered losses for those who ended up not actually losing. According to CoinDesk, the head of DeFi insurance company Nexus Mutual said that if policyholders suffered losses.

On-chain data shows that Nexus Mutual is awaiting refunds from five customers who submitted claims following this attack in March. In total, these customers received nearly $2.4 million in claims, about $2 million of which was in crypto. Additionally, according to Dune data, Euler Finance’s redemption portal returned $133 million in assets to 457 users, six of whom were also Nexus Mutual policyholders. Euler’s hackers have already replaced the funds, and as a result, Euler on Wednesday began processing redemption transactions, including those already paid for by Nexus Mutual. the team even added a notice to the complaints portal reminding policyholders that they owe money.

Source

@TradeCryptoNow

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12 апреля 2023 08:39

🪙 USDC supply stabilizes following Silicon Valley Bank bank woes as tether cements its stablecoin dominance

The amount of USDC in circulation stands at just under 31 billion — some 11 billion less than at the start of the year — after last month's high-profile depeg spooked investors. When Silicon Valley Bank shuttered, the second-largest stablecoin temporarily lost its 1:1 peg to the U.S. dollar. USDC issuer Circle had, at the time, $3.3 billion of reserve funds at the bank. While guarantees from federal regulators helped USDC regain its peg.

Other stablecoin supplies on Ethereum have also dwindled since Jan. 1 — notably Binance USD and Gemini dollar. The former, which is issued by Paxos in a deal with the world's largest crypto exchange, has decreased from just over 16.5 billion to just over 7 billion, while GUSD has dropped from roughly 575 million to less than 391 million. There are also concerns regarding the health of the Cameron and Tyler Winklevoss-founded crypto exchange, Gemini. The twins recently loaned $100 million to their firm after an unsuccessful effort to raise outside funds, Bloomberg reported. Gemini also acknowledged last month that a "limited number" of customers' email addresses .

Source

@TradeCryptoNow

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10 апреля 2023 08:21

🪙 Circle USDC Circulation Discount Up To $200 Million Last Week

USDC had a rough March when the U.S. banking authorities stepped in to take over Silicon Valley Bank (SVB). In addition, the loss of crypto-friendly banks has resulted in Circle’s stablecoin falling in capitalization. The depegging occurred when Circle, the issuer of USDC, announced that around $3.3 billion in cash reserves backing USDC are still held at Silicon Valley Bank, which was closed down by California banking authorities after a bank run.

Other, smaller-circulation stablecoins, such as BUSD issued by Paxos and crypto-backed stablecoin DAI released by MakerDAO, also lost their pegs. Only USDT seems to gain from the turbulence, momentarily surpassing $1, most likely as a result of investors exiting the depegged stablecoins. The crypto market has rebounded significantly in the weeks after the loss of a succession of US banks as well as the Credit Suisse crisis, but the same cannot be said for USDC. According to official data, in the past 7 days, Circle issued a total of $600 million in USDC and redeemed $2.5 billion in USDC, and the circulation decreased by about $1.9 billion.

Source

@TradeCryptoNow

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08 апреля 2023 08:55

💰 Cardano’s First Oracle Integration Sparks Excitement Despite ADA’s Dip

Charli3, the first oracle integrator on Cardano, has recently been launched. Liqwid, a leading DeFi project on Cardano, has integrated the platform’s oracles. The integration of Charli3’s decentralized node network has provided a framework for projects to supply secure, accurate, and safe data to their platforms and users. This makes it easier for new projects to secure trust in the ecosystem.

According to Liqwid co-founder Dewayne Cameron, “Charli3 is ADA’s first decentralized oracle infrastructure on mainnet, working with the talented developers that built this protocol and seeing their clear vision for the evolution of ADA DeFi has been insightful and super motivating!” This is a significant development for the Cardano ecosystem as a whole and shows that projects are following the continuous push for full decentralization on Cardano. Charli3 can be viewed as the Cardano version of Chainlink. It is now able to produce accurate on-chain oracle feeds, such as prices for SHEN/ADA.

Source

@TradeCryptoNow

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06 апреля 2023 08:25

📣 Google Cloud to Offer Workshops, Cloud Computing Services for Builders on Celo

The Celo Foundation is working with Google Cloud to offer workshops and cloud computing services to developers and Web3 founders building on Celo, the foundation said on Tuesday. “Our partnership with Google Cloud will help developers and Web3 founders building on the Celo blockchain build and scale their applications on the industry’s cleanest cloud,” said Xochitl Cazador, head of ecosystem growth at Celo.

Google Cloud will provide builders on Celo, a mobile-first proof-of-stake layer 1 blockchain protocol, credits for Google Cloud and Firebase services. The Google Cloud core team will also offer project support to participants in Celo Foundation’s Founders in Residence program, and Celo Camp, a virtual eight-week accelerator program. Google Cloud has lent its cloud infrastructure to CLabs, the company that developed Celo. The two firms will soon build on their long-standing relationship by co-hosting targeted workshops and other events on Web3 innovation and sustainability, according to the Celo Foundation’s announcement of the partnership.

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