-
🚨 We choose only top projects ▪️ICO/IEO reviews ▪️Upcoming DeFi projects ▪️Investment opportunity’s 🌎 Promotion | Advertising @MaxCryptoGuru
🏦 HTX’s Justin Sun Offers Measures After $8 Million ETH Hack
In a recent cyber incident, cryptocurrency exchange HTX Global (formerly known as Huobi) fell victim to a hack that resulted in the loss of 5,000 ETH, valued at approximately $8 million. In response to this security breach, HTX’s Justin Sun unveiled a series of measures aimed at mitigating the impact and enhancing the platform’s security protocols. Sun, a prominent figure in the crypto industry, reassured users of HTX‘s commitment to safeguarding their assets.
Sun, a prominent figure in the crypto industry, reassured users of HTX‘s commitment to safeguarding their assets. He announced the creation of a Safety Asset Fund for Users (SAFU) to better prepare for potential future losses. He also divulged plans to host a Twitter Space session to engage with the community and discuss the exchange’s security measures. HTX’s Justin Sun emphasized: This incident unfolded shortly after Huobi’s rebranding to HTX, a move aimed at fostering user adoption and expanding its reach by acquiring licenses in various jurisdictions. Stolen funds amount to a fraction of user assets; this incident follows HTX’s rebranding and expansion efforts. The crypto industry continues to face security challenges, with recent notable hacks including a $40 million Bitcoin breach attributed to North Korea’s Lazarus Group and a $200 million crypto asset hack on Mixin Network.
Source
@DeFi_ICO_Invest
🪙 Block.one's Settlement Offered a 'Tiny Fraction' of the $4.1 Billion Raised — EOS Network Foundation CEO
According to Yves La Rose, the founder and CEO of the EOS Network Foundation (ENF), the blockchain software company Block.one’s failure to financially back the EOS ecosystem after the 2018 initial coin offering (ICO) is one of the many reasons why the community felt compelled to take over. However, in written answers sent to Bitcoin.com News, La Rose revealed that the EOS community had to build everything from scratch since it didn’t “own any of the existing intellectual property.”
When asked about Block.one’s settlement proposal and why she urged the community to reject this, La Rose said the offer represented just “a tiny fraction of the $4.1 billion that Block.one raised from the community in its ICO sale.” She also argued that the proposed settlement fell well short of the $1 billion that the blockchain software company promised but failed to inject into the EOS Network and community. However, despite this, La Rose suggested in her answers sent via Telegram that the crypto asset is on a path to recovery. She pointed to the Japanese Virtual and Crypto Asset Exchange Association’s recent decision to give the crypto asset whitelist approval.
Source
@DeFi_ICO_Invest
🔻 Optimism selling $162 million in tokens, flags imminent transfer
Layer 2 network Optimism is selling 116 million OP tokens currently worth around $162.4 million in a private sale and will begin transferring the funds immediately. "Optimism has entered into a private token sale of approximately 116 million OP tokens, split among seven purchasers, for treasury management purposes," the organization said in a post. "The tokens are subject to a two-year lockup. During the lock-up, the purchasers will be able to delegate the tokens to unaffiliated third parties for participation in governance."
Earlier this month, Optimism also said it was transferring 130 million OP tokens "between wallets for treasury management purposes." Additionally, it announced on Monday an airdrop in which it allocated 19.4 million OP tokens to 31,870 addresses that participated in delegation activities of its DAO called the Optimism Collective. The $162.4 million in tokens comes from "the unallocated portion of the OP token treasury and are part of the foundation’s original working budget of 30% of the initial OP token supply," Optimism also said. "There will be several transactions to send the OP," it said. "These are all planned transactions and we're sharing a heads up to keep the community informed," Optimism said.
Source
@DeFi_ICO_Invest
📣 Former Andreessen Executives Crypto Startup Bastion Raises $25 Million Led By A16z Crypto
According to Bloomberg, Bastion, a pioneering blockchain startup focused on bridging blockchain technology and corporate enterprises, has successfully completed a $25 million seed funding round. The financing was spearheaded by a16z crypto, with notable participation from Nomura Group’s Laser Digital Ventures, Robot Ventures, and other prominent investors. Despite the ongoing bear market in digital assets, Bastion managed to secure significant backing for its ambitious mission.
Co-founded by industry veterans Riyaz Faizullabhoy and Nassim Eddequiouaq, formerly holding key positions in Andreessen Horowitz’s crypto division, Bastion emerged from stealth mode to announce its seed funding success. The startup’s primary objective is to facilitate the adoption of blockchain technology in the corporate world, often referred to as Web3, by addressing regulatory and compliance challenges. Bastion’s core services include cryptocurrency custody and wallet management while adhering to global regulatory standards. This commitment to regulatory compliance was underscored by the company’s initial hires, which featured experienced professionals from leading cryptocurrency exchanges like Kraken.
Source
@DeFi_ICO_Invest
🆘 Mark Cuban Confirmed He Lost Approximately $870,000 In The Recent Hack
Billionaire entrepreneur and owner of the Dallas Mavericks, Mark Cuban, found himself at the center of a cyber attack recently, as reported by DL News. The hack, which took place on a fateful Friday night, resulted in the loss of approximately $870,000, encompassing 10 types of token assets, including Ethereum (ETH). In response to the security breach, Cuban is taking swift action by transferring his remaining assets to Coinbase’s custody. Cuban’s digital wallet, dubbed “Mark Cuban 2” on the blockchain explorer EtherScan, exhibited sudden and suspicious activity.
Cuban’s losses spanned multiple cryptocurrencies, including stablecoins and various tokens. He has already taken precautions to secure his remaining assets. Additionally, Cuban used Coinbase’s authentication dongle to facilitate the transfer of his remaining assets, bolstering his security. Mark Cuban, who initially expressed skepticism about cryptocurrencies in 2017, has since become more supportive of the digital asset industry. This unfortunate incident serves as a stark reminder of the importance of vigilance and security when navigating the crypto space. Prior to this, a security compromise on Vitalik Buterin’s X account was reportedly discovered. Buterin is the co-founder of Ethereum. Significantly, this episode has been linked to substantial financial harm for some of his supporters, totaling more than $690,000.
Source
@DeFi_ICO_Invest
🚨 We choose only top projects
▪️ICO/IEO reviews
▪️Upcoming DeFi projects
▪️Investment opportunity’s
🌎 Promotion | Advertising
@MaxCryptoGuru
@DeFi_ICO_Invest
🟠 Binance.US Takes On SEC’s Burdensome Demands Amid Lawsuit Tensions
Binance.US, a leading cryptocurrency exchange, has responded to the U.S. Securities and Exchange Commission (SEC)’s recent motions with a firm stance, calling them “unduly burdensome.” In a joint motion, attorneys for both the SEC and Binance.US requested a protective order to safeguard confidential details within the ongoing litigation. Furthermore, Binance.US submitted sealed documents concerning a proposed order and their opposition to the SEC‘s motion to compel and other related requests.
Attorneys for the SEC and defendants BAM Trading Services and BAM Management US Holdings, under which Binance.US operates, entered into a formal stipulation and proposed order on September 5. Stipulations are legal agreements between opposing parties before legal proceedings. Binance CEO Changpeng Zhao has confirmed that the exchange does not hold custody or control over customers’ private keys. The SEC had sought an asset freeze on Binance.US, but this request was denied by a U.S. judge, who instead ordered negotiations on the exchange’s continued operations. BAM’s attorneys argued that the SEC’s motion failed to provide any evidence implicating Shroder and Lee in the daily management of customer asset custody and transfers at Binance.US.
Source
@DeFi_ICO_Invest
🪙 Terra Luna Classic Considers Deposit Boost to Combat Spam Proposals
The Terra Luna Classic community is currently in the midst of critical voting on multiple proposals. This concern has arisen in the wake of recent price declines, prompting a proactive response from the community. One of the key proposals under consideration is Proposal 11780, aptly titled “Initiative to Address Spam Proposals by Raising Minimum Deposit to 5M LUNC.” The proposal’s primary aim is to significantly elevate the minimum deposit requirement from 1 million LUNC to 5 million LUNC.
The consensus among validators is that the existing threshold of 1 million LUNC is insufficient in deterring these unwanted proposals. Hexxagon, the developer team behind the community-owned Station wallet, has observed a notable increase in spam proposals, highlighting the urgency of addressing this issue. As of the latest data available, Proposal 11780 has garnered support from 34% of “Yes” votes, while 64% have cast “No” votes, with an additional 2% representing “No with veto” votes. Notably, nine validators, including Hexxagon, Lunanauts, and Coinpayu, have expressed their support for the proposal. L1 Terra Classic Task Force is actively preparing for the upcoming v2.2.1 core upgrade.
Source
@DeFi_ICO_Invest
🪙 Aave DAO Approves Proposal To Acquire 443,674 AURA From Olympus DAO
Aave DAO’s ARFC proposal for the acquisition of 443,674 AURA at a total cost of 420,159.28 DAI units was approved with an approval rating of 83.69%. Olympus DAO seeks payment in DAI, with an exchange rate of 0.9470 DAI per AURA unit (approximately the current market price). The number of AURAs is 443,674 with the total cost of Aave DAO being 420,159.28 DAI units. Aave DAO currently holds 2.873 million units of aDAI on Aave v2.
According to the proposal, the initial commitment from the Aura Finance team is 400,000 vlAURA units for the first 3 months period. However, over the next few months, veBAL and vlAURA support for the GHO team is expected to decrease. Therefore, the proposal is to replace that lost support by buying AURA. Olympus DAO is in the process of consolidating its treasury and is looking to sell its AURA shares via OTC. AURA via the vlAURA governance token is also a more effective way to incentivize liquidity than purchasing BAL. GHO will be backed by a series of tokens chosen by users, and most importantly, owned and managed by the entire Aave community without belonging to a certain individual or organization.
Source
@DeFi_ICO_Invest
📣 Hex Trust Now Gains French Regulatory Approval For Digital Asset Services
Digital asset custodian Hex Trust has achieved a significant milestone in its European expansion plans by obtaining regulatory registration from two prominent French authorities. The company has been granted registration by the Autorité des Marchés Financiers (AMF) and the Autorité de Contrôle Prudentiel et de Résolution (ACPR), allowing it to offer digital asset custody, purchase, sale, and transaction services in France. This latest approval comes after Hex Trust received a similar license last year, enabling it to operate in the Italian market.
Alessio Quaglini, CEO and Co-Founder of Hex Trust expressed his satisfaction with the DASP registration, highlighting its importance as a vote of confidence in the company and its European expansion strategy. Quaglini emphasized that the EU market holds immense growth potential for Hex Trust, and this registration aligns with their preparations for the European MiCA regulation, set to regulate the digital asset industry in the region by 2024. Hex Trust, renowned as an institutional-grade digital asset custodian across global financial hubs, now has the regulatory green light to offer a wide array of services in France. These services include digital asset custody, facilitating the purchase and sale of digital assets using legal tender, and enabling the trading of digital assets against other digital assets.
Source
@DeFi_ICO_Invest
📣 The Number Of Worldcoin’s World App Wallets Exceeds 1 Million: Data
Worldcoin’s World App, a revolutionary project co-founded by OpenAI CEO Sam Altman, is making significant strides in the digital world, with its recent launch garnering impressive numbers and global attention. The system promises a secure and private means of proving one’s humanness online, and its popularity has been soaring since its inception. According to data from Dune, the number of World App wallets has surged past the one million mark and currently stands at an impressive 1,015,783.
Worldcoin, co-founded by Sam Altman alongside Alex Blania and Max Novendstern, is not merely a cryptocurrency; it goes beyond that definition. The founders describe it as a global decentralized identity and financial network encompassing a unique ID, a cryptocurrency (WLD), and a multi-functional app. A significant milestone was reached on July 24, when Worldcoin launched the WLD token and listed it on multiple exchanges. Remarkably, the project‘s fully diluted valuation (FDV) has exceeded $30 billion, a substantial leap from its $3 billion valuation in March 2023. This remarkable growth has piqued the interest of the crypto community, fueling the Fear of Missing Out (FOMO).
Source
@DeFi_ICO_Invest
💰 Sam Bankman-Fried Seeks To Seal Caroline Ellison’s Diary
FTX founder Sam Bankman-Fried is currently facing the possibility of returning to jail as the U.S. Department of Justice (DOJ) has asked Judge Lewis Kaplan of the Southern District of New York to make him spend the remainder of his time in jail before his criminal trial begins. Bankman-Fried has requested the court to seal the private diary of Caroline Ellison, his ex-girlfriend and ex-Alameda Research CEO. In response, Inner City Press has opposed the move, according to court filings.
Judge Kaplan has declined to jail Bankman-Fried immediately, but has imposed a temporary gag order on parties and witnesses to avoid public dissemination or discussion of the case, which could interfere with a fair trial. Judge Kaplan has also set out a rapid schedule for both the prosecution and the defense to make formal written submissions on the matter. Bankman-Fried’s lawyer has written to the court, “The presumption of access to these documents is greatly outweighed by the need to avoid their public dissemination at this time.” A publication that covers court proceedings in New York’s federal court, Inner City Press, has previously opposed Bankman-Fried’s bid to keep secret the identity of his bail co-signers and asked the court to schedule a hearing on the matter if required.
Source
@DeFi_ICO_Invest
🆘 Coinlist Twitter Hacked! Protect Yourself from Phishing Scam!
The official Twitter account of Coinlist, a popular cryptocurrency platform, is suspected of being hacked today. Users reported that the account has been posting suspicious messages related to a token gifting scam. The fraudulent tweets claim to offer free tokens of the native Coinlist token, LIST, as a giveaway. However, authorities and Coinlist officials have confirmed that this is a phishing scam, and users are advised not to click on any links or engage with the fraudulent messages.
The hacking incident has caused concern among the crypto community, as scams and phishing attempts have become more prevalent in recent times. Social media platforms like Twitter have been prime targets for cybercriminals seeking to exploit the reputation of legitimate crypto companies for their malicious purposes. Upon discovering the suspicious activity, Coinlist immediately took action to secure their account and alerted Twitter about the hacking incident. Coinlist representatives have emphasized that they never conduct token giveaways in this manner, and users should exercise caution when encountering such messages on social media. Phishing scams typically involve deceiving users into clicking on malicious links, leading to the theft of sensitive information or funds.
Source
@DeFi_ICO_Invest
🇦🇪 Bitget Ventures Into Booming MENA Crypto Market With New Office In Dubai
Bitget, a leading crypto derivatives and copy trading platform, has set its sights on the flourishing Middle East region as part of its ambitious global expansion plans. The company’s decision to venture into the Middle East comes as the region gains significant traction as a hotbed for cryptocurrency activity. In a strategic move, Bitget has already begun its operations in the vibrant city of Dubai, where it has recruited 60 new staff members to fill mid and back-office positions.
The Middle East has emerged as a promising destination for crypto enthusiasts and businesses alike, with countries such as the United Arab Emirates (UAE) and Bahrain taking the lead in creating a crypto-friendly environment. As a result, the region has experienced remarkable growth in crypto adoption, accounting for an impressive 9.2% share of global crypto transactions between 2021 and 2022. Particularly noteworthy is the UAE, which witnessed an astounding 400% increase in the number of registered crypto businesses over the course of two years, significantly bolstering global digital asset trading. As part of its expansion strategy, the company aims to establish a regional headquarters and hire a diverse team to handle various mid and back-office roles.
Source
@DeFi_ICO_Invest
💰 Sui Network Sees Sudden Growth, SUI Soars 15% During The Day
The Sui Network, a blockchain platform, has witnessed an unprecedented surge in daily transactions, marking a significant milestone for the network. Just four days ago, the daily transactions on the Sui Network surpassed 22.2 million, representing an astounding increase of over 50 times compared to the previous two weeks. This surge in activity has been primarily attributed to the popularity of a blockchain-based game called Sui 8192. Sui 8192, developed by the team behind the Sui-native Ethos Wallet.
The game draws inspiration from the well-known 2048 puzzle game but adds a unique twist by leveraging blockchain technology. Players are tasked with strategically shifting and combining tiles using arrow keys, with the ultimate goal of reaching the coveted 8192 tile. What sets Sui 8192 apart is that each move made during gameplay is recorded as a transaction on the Sui blockchain, akin to the creation of a non-fungible token (NFT). As a result, players are required to pay gas fees for every transaction, leading to a substantial increase in daily activity on the Sui Network. This remarkable growth in users and transactions has propelled the Sui Network ahead of Solana in terms of daily blockchain transactions.
Source
@DeFi_ICO_Invest
📣 Liquid-Staking Token-Backed Stablecoin MKUSD Surges 27,000% in Under a Month
Another stablecoin, MKUSD, has entered the stablecoin economy, a large group of fiat-pegged coins now valued at $123 billion as of September 23. The stablecoin originates from a decentralized finance (defi) protocol named Prisma Finance, which officially launched on September 1, 2023. Prisma’s stablecoin MKUSD is described as a “non-custodial and decentralized Ethereum liquid-staking-token (LST)-backed stablecoin.”
In essence, Prisma users deposit supported liquid staking tokens into a vault to borrow MKUSD. If the collateral ratio drops below 120%, the vault can be liquidated. A stability pool takes on the liquidated debt and distributes collateral to providers. Supported collateral types are WSTETH, CBETH, RETH, and SFRXETH. The minted MKUSD can be used on other defi platforms or later redeemed for the liquid-staking tokens (LSTs). LSTs have become extremely popular over the past two years and there’s 11.96 million ether locked into LST platforms. At its launch, the Prisma project set its borrowing limit in phases, and by September 15, Prisma had secured $30 million. Presently, defillama.com data indicates that Prisma’s total value locked (TVL) is $55.16 million.
Source
@DeFi_ICO_Invest
🪙 Chainlink Price Surges 20% From Beginning Of Month With Active Accumulation Of 81 Whales
Chainlink (LINK) is experiencing a remarkable surge, with its price up 20% from the September 12 low of $5.8. This substantial increase indicates the imminent onset of a strong bull run, accompanied by a significant accumulation of LINK by prominent investors, often referred to as “whales.”. Data from Lookonchain reveals a noteworthy development: on September 15, a total of 81 new wallets were created, which began withdrawing LINK from the popular exchange Binance on September 18.
The resurgence in Chainlink’s price has pushed it above the crucial $6.50 resistance level. While the token is currently undergoing a correction, its upward momentum is evident, with a new support level forming around $6.62. However, Chainlink is now at a pivotal juncture, as it faces a decisive moment following a rejection from the supply zone at $7.05. This recent surge in LINK‘s price can be attributed to the Chainlink Cross-Chain Interoperability Protocol (CCIP), a groundbreaking development that provides Web3 developers with a secure and seamless interface for creating applications that can operate across various blockchains. Chainlink decentralized oracle networks, renowned for safeguarding substantial capital and facilitating over $8 trillion in transactions
Source
@DeFi_ICO_Invest
🇺🇸 SEC official says more crypto exchanges could face charges: report
There could be more enforcement actions headed toward cryptocurrency exchanges and decentralized finance projects, according to David Hirsch, head of the Securities and Exchange Commission's Crypto Assets and Cyber Unit. Hirsch said the agency could bring new charges against crypto brokers, dealers, exchanges, clearing agencies and others who don’t make proper disclosures or register with the agency, according to a report from CoinDesk.
Hirsch said the SEC was aware of and investigating firms involved in similar activity to those that prompted agency suits against Coinbase and Binance a few months ago. The SEC has forged ahead in bringing high profile cases against crypto exchange Binance and then Coinbase a day later back in June. It's also been involved in a lengthy dispute with Ripple Labs. Some companies including Grayscale Investments and Ripple have fought back, with three judges in the U.S. Court of Appeals for the D.C. Circuit ruling in August that the SEC has to re-review Grayscale's bid for a spot bitcoin ETF after the asset management firm sued the agency last year following its rejection of the conversion of its flagship GBTC fund.
Source
@DeFi_ICO_Invest
🏦 Coinbase Earned $1M Amid Hack, but Hasn't Reimbursed Victims
An exploiter’s July attack on decentralized finance giant Curve Finance roiled the entire DeFi market. Much of the stolen money has been returned, but not everyone has been made whole. One titan of crypto, though – Coinbase, the largest U.S. exchange – is sitting on a roughly $1 million profit tied to the incident, according to market participants and observers. It hasn’t surrendered this inadvertent windfall to victims. And, to be clear, it’s currently not obligated to.
When $73 million worth of assets were stolen from Curve, the platform’s asset-pricing system was briefly thrown out of whack. A trading bot noticed this once-in-a-lifetime arbitrage opportunity and pounced, paying 570 ETH (worth $1.06 million at the time) to make sure an Ethereum blockchain validator processed its trade as quickly as possible. It was the second-biggest payment ever tied to the practice known as MEV. While the bulk of the $73 million in assets lost in the Curve hack has been recouped, the Alchemix protocol – which saw $22 million of its Curve-based tokens looted by the hacker – said that Coinbase has turned down requests to send back the money it earned as a result of the heist.
Source
@DeFi_ICO_Invest
🇭🇰 HKMA Cracks Down On Crypto ‘Banks’ With Warning Against Misleading Claims
The Hong Kong Monetary Authority (HKMA) has issued a stern warning on its official website, cautioning virtual asset institutions against making deceptive claims of being “crypto banks,” “virtual asset banks,” “digital asset banks,” “digital banks,” or “digital transaction banks.” These institutions have also been cautioned against promoting their services as “banking services” or “bank accounts,” using the term “deposit” to describe customer funds, and advertising “savings plans” as “low risk” with “high returns.”
The HKMA‘s warning underscores that such practices could potentially violate the Banking Ordinance. According to this ordinance, only licensed banks, restricted license banks, and deposit-taking companies, collectively referred to as “authorized institutions,” holding licenses from the HKMA are permitted to conduct banking operations and accept deposits in Hong Kong. Additionally, the HKMA has reminded the public that virtual asset institutions not recognized as Hong Kong banks do not fall under the HKMA’s regulatory oversight. Consequently, funds deposited with such institutions or platforms are not protected by the Hong Kong Deposit Protection Scheme, emphasizing the importance of due diligence and cautious investment practices within the virtual asset sector.
Source
@DeFi_ICO_Invest
🔵 Circle’s Native USDC Is Now Available On NEAR Blockchain
Circle, a prominent stablecoin company, has made a significant announcement regarding its USD Coin (USDC) cryptocurrency. USDC is a stablecoin, and Circle has revealed that it is now natively available on the NEAR blockchain. The integration of USDC on NEAR offers a wide range of use cases, including low-cost global payments and remittances, 24/7 trading, lending, and the ability for users to store their savings in digital dollars without relying on traditional banking institutions.
Circle has been actively expanding its partnerships and integrations. In late August, the company collaborated with Mercado Libre to introduce the USD Coin stablecoin to Mercado Pago, a move aimed at facilitating digital payments within Latin America. Furthermore, Circle has also rolled out a native version of USDC on Coinbase’s Layer 2 Base network, gradually replacing the existing bridged version from Ethereum. This new iteration will be known as USDC, while the bridged version will be labeled USDbC. Notably, Circle’s Native USDC is now accessible on Noble, allowing developers and users to interact with these assets via the Noble Account and Noble APIs. It can be exchanged through the Inter-Blockchain Community (IBC) Protocol, enhancing the ability to trade digital assets across different Cosmos appchains.
Source
@DeFi_ICO_Invest
🚨 Stake.com Attacker Swaps 2.59 Million MATIC For 51.7 BTC In Recent Exchange
On September 11, a notable transaction involving the Stake.com attacker captured attention in the cryptocurrency community. According to PeckShield monitoring, the attacker conducted an exchange, converting 2.59 million MATIC tokens on the Polygon network into 51.7 BTC within a span of just 2 hours. This exchange marks the latest in a series of transactions involving the attacker, who has been actively converting MATIC tokens into Bitcoin. To date, approximately 14.2 million MATIC tokens have been exchanged for an estimated 300.9 Bitcoins.
The attacker’s actions have raised concerns and discussions within the crypto space, as they continue to liquidate significant amounts of MATIC. The motivations and intentions behind these conversions remain unclear, and the impact on the MATIC market and its ecosystem is being closely monitored. The ongoing exchange of MATIC for BTC by the Stake.com attacker highlights the importance of security measures within the crypto industry. It serves as a reminder of the risks associated with blockchain vulnerabilities and the need for robust security practices to safeguard digital assets. This exchange marks the latest in a series of transactions involving the attacker, who has been actively converting MATIC tokens into Bitcoin.
Source
@DeFi_ICO_Invest
🪙 Ethereum Foundation Issues 18 Grants for Account Abstraction Initiatives
The Ethereum Foundation, a nonprofit organization in charge of funding and expanding the Ethereum ecosystem, has announced that it will issue grants to 18 teams developing projects built around the ERC-4337 standard, also known as account abstraction. The initiative seeks to empower these projects to grow and become a significant part of the Ethereum ecosystem in the future. About the significance of these grants and the projects that received help from them, the Ethereum Foundation stated.
The 18 projects are Zerodev Kernel, Etherspot’s Skandha Bundler, Mynawallet, Blocto, Silius, Schnorrkel.js, Ambire, Iotex, Sixdegreelab, Jam, Tokensight, ZK-Team, Rhinestone, AAA, Unpacking 4337, Hexlink, UniPass, and Clave. Each offers different functionalities like batching transactions, making educational articles and videos on the subject, designing decentralized finance transactions for other apps, and even bundling biometric authentication for already existing wallets. ERC-4337, or the account abstraction standard, aims to upgrade the feature set of externally owned accounts (regular wallets like Metamask) to become contract accounts, handled directly by smart contracts. These offer flexibility to implement user-oriented features.
Source
@DeFi_ICO_Invest
🇷🇺 Kostarev and Smerkis Exit Amidst Binance’s Russia Dilemma
Binance’s Eastern Europe and Russia operations have announced their departures, leaving the crypto community abuzz with speculation. Gleb Kostarev, who held the position of head of Binance’s Eastern Europe and Russia operations, initiated this unexpected development when he took to Facebook on September 6 to announce his resignation. Shortly after, Vladimir Smerkis, the general manager responsible for BNB’s Russia and CIS region, followed suit with his own Facebook announcement.
The abrupt exits of Kostarev and Smerkis have raised questions about the future of BNB’s operations in Russia and Eastern Europe. This move comes on the heels of reports from The Wall Street Journal, which suggested that Binance is re-evaluating its presence in Russia, with the possibility of a complete withdrawal looming on the horizon. Gleb Kostarev, recognized for his instrumental role in establishing BNB’s footprint in the Eastern European and Russian markets, did not provide specific reasons for his departure in his Facebook post. However, his departure, coupled with Smerkis’, underscores the current uncertainty surrounding Binance’s operations in this region.
Source
@DeFi_ICO_Invest
🇺🇸 US Judge Denies Terraform Labs Petition To Dismiss SEC Lawsuit
According to CoinDesk, US Federal Judge Jed Rakoff of the Southern District of New York dismissed Terraform Labs’ request to dismiss the US Securities and Exchange Commission (SEC) charges on Monday. The judge said that the SEC has fully demonstrated its authority and “has made a reasonable recommendation” that TerraUSD (UST) and LUNA may have violated securities laws. Additionally, Jed Rakoff rejected the judgment of Judge Analisa Torres, who recently ruled that Ripple Labs offers XRP.
Judge Rakoff does not distinguish between cryptocurrencies based on how they are sold. For him, selling directly to large institutional investors or through a 3rd party to retail investors – does not affect whether those tokens are considered securities or not. Prior to that, during a hearing on Thursday, June 15, representatives of Terraform Labs faced the United States Securities and Exchange Commission (SEC) in a Manhattan court to prove that the public-owned cryptocurrency issuer is not a security. The SEC challenged Dentons’ efforts, saying the documents, which included internal SEC emails and other important information, were irrelevant. The regulator reiterated that the collapsed algorithmic stablecoin of Terraform UST should be treated as a security.
Source
@DeFi_ICO_Invest
🥇 Alameda Urges GBTC Shareholders Holding At Least 10% To Join Lawsuit Against Grayscale
In an ongoing legal battle, Alameda Research, a cryptocurrency investment firm that is currently facing bankruptcy, is calling on shareholders holding at least 10% of Grayscale Bitcoin Trust (GBTC) to participate in its lawsuit against Grayscale Investments and its parent company, Digital Currency Group (DCG). The initial lawsuit was filed by Alameda against Grayscale in March, accusing the crypto investment management company.
Now, Alameda has revealed its intention to file an amended complaint against Grayscale, aiming to add additional plaintiffs who own a minimum of 10% of the outstanding shares of GBTC. The firm is in talks with several GBTC shareholders who are willing to join as co-plaintiffs, but an additional five days have been requested to confirm their participation and contribute to the amended complaints. Recently, Bitcoin Magazine CEO David Bailey urged GBTC shareholders to register on RedeemGBTC.com and become part of the lawsuit, emphasizing that the outcome would affect all shareholders and determine their position as investors or hostages in the dispute.
Source
@DeFi_ICO_Invest
📣 Ribbon Finance Promotes Merger Of Aevo, Making New Brand Name
The proposal put forth by the Ribbon Finance community to merge into Aevo and adopt Aevo as the new brand name has been overwhelmingly approved. Ribbon Finance, known for its innovative structured products on the blockchain, set its sights on a new path by launching the proposal to merge with Aevo and undergo a comprehensive restructuring of governance and token economics. The merger entails significant changes that are set to elevate Aevo’s position as the premier venue for on-chain derivatives trading, ushering in a new era for the platform.
One of the key components of the merger involves the phasing out of the original Ribbon Finance token, RBN, and the introduction of a fresh token named AEVO. The migration will see RBN token holders receive a one-to-one exchange ratio for AEVO tokens, paving the way for a seamless transition. Aevo’s vision revolves around becoming the ultimate destination for on-chain derivatives trading, comprising exchange-traded options, perpetual contracts, OTC derivatives, and a range of structured products, including passive and active investment options. By integrating Ribbon Finance’s offerings into Aevo’s suite of structured products, the platform aspires to evolve into a DeFi super-app, boasting a comprehensive array of perpetuals, options, and yield products under one roof.
Source
@DeFi_ICO_Invest
🇭🇰 First Hong Kong Securities Firm Quam To Launch Crypto Trading
Today, Quam Securities announced that it has become the first Hong Kong securities firm to launch crypto trading. User completed the first virtual asset transaction on HashKey PRO through Hong Kong Quam Securities APP. Longbridge Whale, a BSS vendor, announced the launch of a one-stop virtual asset trading system service for securities companies during their recent “Far Beyond” 2023 new product launch conference. This marks the first one-stop virtual asset trading solution available to brokerages in Hong Kong.
The service offers market data, community information, trading, clearing and settlement, and more. It includes two solutions, App and Counter, which provide securities companies with uninterrupted trading, fast T+0 deposits and withdrawals, and real-time market support for 50 order prices. The launch conference also introduced PortAI, an AI investment knowledge service platform that aims to help traditional securities firms achieve leapfrog development from information services to knowledge services. PortAI has the ability to conduct dialogue and question answering, the ability to summarize long text in one click, the ability to intelligently review position daily, and the ability to interact with the community in real-time.
Source
@DeFi_ICO_Invest
🏦 Coinbase’s Layer 2 Base To Embrace Decentralization With Optimism’s Drive
Coinbase’s Layer 2 network, Base, is set to embrace an open neutrality framework developed by Optimism as part of its commitment to promoting decentralization within the cryptocurrency space. The framework, currently in draft form, will establish a set of principles for networks seeking to maintain a decentralized structure. The announcement was made by Jesse Pollak, the lead for Coinbase protocols, during the EthCC (Ethereum Community Conference) in Paris on July 19.
Pollak highlighted Coinbase’s belief in the significance of decentralization as a cornerstone for fostering an open and global real economy. As part of their commitment to this principle, Coinbase articulated three core commitments for Base: investment in decentralized technology, participation in open and neutral frameworks through a partnership with the Optimism Collective, and funding public goods. Base is scheduled to open its main network in August, following its current availability to builders. Additionally, Base plans to announce the first round of grants for builders in August while hosting the SUPERHACK online hackathon from August 4th to 18th, featuring a total prize value exceeding $100,000.
Source
@DeFi_ICO_Invest
⚡️ Layer 2 Mantle Network Officially Launched Its Mainnet Alpha
Mantle Network, an Ethereum Layer 2 blockchain solution, has officially launched its mainnet alpha version at the Ethereum Community Conference (EthCC) in Paris. The launch marks the culmination of six months of development and testing, during which the network processed over 14 million on-chain transactions. Mantle Network’s mainnet release follows multiple security audits that helped mitigate potential risks and vulnerabilities.
Backed by BitDAO, Mantle now benefits from one of the largest treasuries in the crypto space, with assets valued at over $2.4 billion. The merger with BitDAO in May integrated BitDAO’s governance framework and treasury with the network, providing substantial support for Mantle’s future endeavors. Unlike traditional monolithic blockchains, Mantle Network takes a modular chain approach, separating execution, data availability, consensus, and settlement into distinct layers. This design, coupled with its modular architecture and Optimistic Rollup approach, aims to combine high performance with low costs while maintaining Ethereum’s decentralization and security. Mantle collaborates with the ether restaking protocol EigenLayer to ensure efficient data availability.
Source
@DeFi_ICO_Invest