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20 May 2023 16:26

💰 Filecoin Foundation Objects To SEC Classifying FIL As A Security

According to CryptoSlate, the Filecoin Foundation has refuted the US Securities and Exchange Commission’s (SEC) assertion that its FIL tokens are securities in a statement. “Over the last decade, thousands of people worldwide have contributed to this open-source project to create a decentralized, efficient, and robust foundation for humanity’s most important information. That includes hundreds of organizations and teams building on the network.

Grayscale revealed that the US Securities and Exchange Commission (SEC) had asked it to withdraw its application to launch a Filecoin trust product (FIL). Grayscale said in a statement that it received comments from the SEC stating that the FIL “meets the definition of a security.” However, the organization disagrees with the opinion of the SEC staff and does not believe that the FIL is a security under federal securities laws. Grayscale intends to respond promptly to SEC staff to explain the legal basis of the company’s position. Grayscale cannot predict whether or not SEC staff will be convinced that their position is correct, and if not.

Source

@TradeCryptoNow

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18 May 2023 05:14

🪙 Dogecoin’s Daily Transactions Skyrocket After DRC-20 Tokens Introduction

The daily transaction volume of Dogecoin has surged tenfold from its average daily rate earlier this week, reaching a lifetime peak. As reported by BitInfoCharts, the network saw over 645,000 transactions on Sunday, which briefly placed it ahead of both Bitcoin and Litecoin transactions that day before falling back to previous levels as of Wednesday. This marks a significant increase compared to the usual 20,000 transactions that Dogecoin tends to see on a daily basis.

So, what triggered this sudden growth? Well, on May 9, the DRC-20 token standard was introduced, which has led to an immediate increase in network activity. Essentially, this standard allows developers to issue tokens that take network fees in the form of dogecoin (DOGE). This adds to the value proposition for dogecoin and lays the path for potential decentralized finance (DeFi) services built on the blockchain. However, not everyone is pleased with the DRC-20 token deployment. Critics point out that it may lead to network congestion and that it moves away from dogecoin’s aim of being used as an everyday currency.

Source

@TradeCryptoNow

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16 May 2023 08:08

🪙 Bitcoin Cash Prices Bump Ahead of ‘CashTokens’ Upgrade

Bitcoin Cash (BCH) prices jumped as much as 6% ahead of a mainnet upgrade that will allow developers to issue tokens atop the network, among other enhancements. The ‘hard fork’ is scheduled for about noon time UTC on Monday. A hard fork refers to an upgrade in any blockchain network. Bitcoin Cash’s May hard fork is set to bring added security and privacy to the fledgling network, with plans for “CashTokens”.

Other proposed improvements already locked in include smaller transaction sizes – which help speed up transactional times – and smart contracts functionality that could allow Bitcoin Cash-based applications built that offer recurring payments, derivatives trading, and crowdfunding opportunities, among other uses, to Bitcoin Cash users. This development comes on the back of growing interest in tokens issued on Bitcoin: The recently-launched ‘Bitcoin Request for Comment’ (BRC20) tokens. BRC-20 data, shows over 11,000 tokens issued on Bitcoin are available on the open market as of Monday with a cumulative market capitalization of $500 million.

Source

@TradeCryptoNow

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14 May 2023 07:05

📣 Milady (LADYS) Has Been Listed On Crypto.com 2 Days After Elon Musk Tweeted About It

An announcement was made by Crypto.com, a digital asset exchange based in Singapore, stating that it has begun listing Milady (LADYS) on its mobile application. Just a few short days after billionaire Elon Musk mentioned a new memecoin in a tweet, which caused its value to skyrocket, a popular cryptocurrency exchange has decided to sell the memecoin. Milady Meme Coin (LADYS) has been added to the Crypto.com App’s list of supported cryptocurrencies and stablecoins.

Users of the Crypto.com App can now make purchases of LADYS at genuine pricing using USD, EUR, GBP, and more than 20 additional fiat currencies. Following a tweet by the CEO of Tesla on the cryptocurrency LADYS earlier this week, the stock had a phenomenal increase of more than 2,000% during the previous trading week. In the past, information obtained from the Lookonchain website found that a mysterious cryptocurrency wallet that had been created barely an hour before Musk’s tweet had generated a massive profit of 2300% from the Milady transaction. LADYS has experienced a significant decline after reaching its all-time high, and as of the time of this publication.

Source

@TradeCryptoNow

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12 May 2023 05:30

🪙 Uniswap Weighs Proposal to Enrich Token Holders, Switch on Liquidity Pool Fees

Community members of decentralized exchange (DEX) Uniswap are considering a proposal to switch on fees for many of its liquidity pools. It’s the latest development in a long-standing debate on Uniswap’s protocol fees and broader finances. Implementing fees on the pools would allow the Uniswap protocol to top up its treasury’s coffers and provide rewards to holders of the protocol’s native token Uniswap (UNI).

Uniswap’s decision to further monetize its platform by switching on fees for a large swath of its version-three (v3) liquidity pools and all of its version-two (v2) pools could also set a precedent for the large DeFi ecosystem, of which Uniswap has captured roughly 70% market share. Uniswap v2 has nearly $1.2 billion total value locked and has averaged roughly $367 million in daily volume on Ethereum during the past week, DefiLlama data shows. Meanwhile, Uniswap v3, which is deployed on SushiSwap, Curve, Balance and PancakeSwap, among other networks, has roughly $2.9 billion total value locked.

Source

@TradeCryptoNow

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11 May 2023 07:13

💰 Lido DAO Governance Holds Onto 39 ETH Despite Sushi Recovery Effort

Lido DAO governance is currently deliberating on a proposal that would see the return of funds that ended up in its execution layer rewards vault following a SushiSwap attack that resulted in a $3.3 million loss last month. The majority of the lost funds were attributed to Michael Patryn, otherwise known as Omar Dhanani, who is an alleged serial scammer and a co-founder of QuadrigaCX, which is now bankrupt.

To address this, a proposal to return these funds had been flagged with the Lido team, and a related snapshot vote was posted last week. As of publication, an overwhelming majority of Lido community members (99.92%) have voted to take “no action,” choosing not to return the funds back to Sifu. Despite the proposal making sense on the surface level, Misha Putiatin, the CEO of Statemind, noted on a discussion thread that there could be severe ramifications to the protocol if it were to be approved. He pointed out that without a clear framework, Lido DAO could be heavily throttled by an inflow of hack reimbursement proposals. In case of reimbursement, Lido DAO would need to be an arbitrary judge of what constitutes legal or illegal activity for other protocols which is way beyond its usual capacity and might bring unpredictable legal risks.

Source

@TradeCryptoNow

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09 May 2023 06:50

🪙 Binance Resumes Bitcoin Withdrawals After Second Pause, Says It's Adjusting Fees and Integrating Lightning Network

Binance has once again resumed bitcoin (BTC) withdrawals after a second pause, as the Bitcoin network suffers from unprecedented congestion. Binance briefly paused bitcoin withdrawals for around two hours Sunday afternoon U.S. time as the number of unconfirmed transactions hit a record high. Its second pause, taking place Sunday evening U.S. time, was also for just over two hours.

"To prevent a similar recurrence in the future, our fees have been adjusted. We will continue to monitor on-chain activity and adjust accordingly if needed," Binance said in a tweet. "Our team has also been working on enabling BTC Lightning Network withdrawals, which will help in such situations." The number of unconfirmed transactions was approaching 500,000 when the second halt took place, from around 400,000 when the first pause occurred. It is now beginning to decline, and is currently just over 430,000 over a 12-hour period. The price of bitcoin continues to drift downward and is now at $28,240, down 2.6% in the last 24 hours.

Source

@TradeCryptoNow

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07 May 2023 13:29

🪙 The Memecoin Chaos Has Pushed Ethereum Gas Fees To A 12-Month High

Ethereum gas fees have risen to a 12-month high as the latest memecoin craze has prompted investors to spend millions of dollars on Ethereum memes, particularly Pepe (PEPE). Earlier this week, the average daily gas price on Ethereum reached a 12-month high of 87 gwei. Since the start of PEPE on April 18, this figure has climbed by more than 50%. The average petrol price once surpassed 150 gwei. This surge, according to CoinMetrics, reflects increased demand for the Ethereum network, primarily from memecoin dealers.

According to CoinMetrics, the Ethereum (ETH) ecosystem is still producing alternative cryptocurrencies that are worth millions of dollars. In the past week, PEPE’s value has increased by 1285.5%, bringing its fully diluted market cap close to $1.6 billion. This makes it the most notable memecoin currently available on the market. The PEPE-WETH liquidity pool of Uniswap, the leading decentralized exchange on Ethereum, has recently become the largest liquidity pool in terms of the number of transactions. This is largely attributable to the development of Pepe (PEPE). After Binance announced the inclusion of FLOKI (FLOKI) and Pepe (PEPE) in the Innovation Zone, the price of Pepe (PEPE) has increased by 122% in the past 24 hours.

Source

@TradeCryptoNow

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05 May 2023 05:47

🏦 Coinbase to Stop Issuing New Loans Via Coinbase Borrow

Coinbase Borrow’s days are numbered. Customers of the U.S.-based exchange who used the program – which allowed customers to borrow fiat loans up to $1 million against as much as 30% of their bitcoin holdings, with interest – received an email on Wednesday informing them that the last day to take out new loans would be May 10. Coinbase has been under extra scrutiny from regulators following crypto exchange FTX’s collapse.

Coinbase Borrow seems – at least for now – to be unconnected to any enforcement action. A person familiar with the matter told CoinDesk the closure of Coinbase Borrow had nothing to do with either pending or past troubles with the SEC. “We regularly evaluate our products to ensure we’re prioritizing the offerings that our customers care about most,” the spokesperson said. “Effective May 10, we will stop issuing new loans through Coinbase Borrow. There is no impact on customers’ outstanding loans, and no action is required from them at this time.” Coinbase Borrow launched in November 2021.

Source

@TradeCryptoNow

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03 May 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 May 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 Apr 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 Apr 2023 18:25

USDFI Revolutionizes DeFi with its ownUniversal Banking Protocol

Dear Community,

USDFI is the first DeFi protocol that combines a comprehensive range of features - liquidity pools, lending, money legos, and more - in one holistic concept. The USDFI platform allows users to seamlessly access the various functions without having to switch between different protocols.

The Universal Banking architecture of USDFI is based on Smart Contracts to ensure the autonomy and decentralization of the protocol. Furthermore, the protocol is not controlled by a central authority but rather by the community of users within a DAO framework.

The two tokens, USDFI and STABLE, are central pillars of our all-in-one platform. The former is a soft-pegged stablecoin that is pegged to the value of the US dollar. The latter is the governance token that is distributed as a reward for participation in the system.

The security of the protocol is ensured, among other things, by a comprehensive audit by Chainsecurity.

🚀JOIN THE START NOW🚀

⚡️ Website: https://usdfi.com/
⚡️ TG: /channel/USDFI
⚡️ DOCS: https://docs.usdfi.com
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Yours sincerely,
The @USDFI team!

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26 Apr 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 Apr 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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19 May 2023 06:24

📣 dYdX To Launch More SubDAOs Ahead Of Its V4 Upgrade

According to a post by Fox Labs Digital, an Australian marketing company, duties for monitoring should be divided among multiple smaller decentralized autonomous organizations (DAOs). According to a blog post, the objective is to build the protocol, a completely decentralized version of the protocol. In the near future, the dYdX DAO will most likely be composed of multiple autonomous subDAOs, each of which will focus on essential functional areas of the protocol and will eventually be answerable to the community.

The protocol has now opened two SubDAOs, one for its reward program and one for its operational activity. The SubDAO utilized for operations will expire on June 19, according to a governance post published by the dYdX Foundation. The notion of expanding beyond the existing two subDAOS (one for dYdX’s awards program and the other for its operational operations) comes as the protocol’s community prepares to upgrade to the fourth edition (v4) of the Cosmos blockchain. Each SubDAO is said to operate in the fundamental functional areas of the dYdX protocol and is ultimately accountable to the community. Running any SubDAO will need soliciting community feedback and adhering to a proposal lifecycle.

Source

@TradeCryptoNow

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17 May 2023 05:39

🔻 Chainlink Automation Is Now Live On Layer-2 Optimism

Chainlink, an Oracle service provider, introduced Chainlink Automation on Layer-2 Optimism. Chainlink Automation allows developers to grow by offering them the capacity to do DevOps maintenance activities, similar to how Optimism lets DeFi developers smoothly scale their applications. As a result, developers will be able to create more powerful dApps, bringing more consumers to the Optimist ecosystem.

dApp developers can integrate Chainlink Automation into their projects, monitor smart contracts using the decentralized node network, and then use Chainlink’s transaction management Execution of functions by the controller to achieve the reliability and high-performance automation required to build advanced dApps. BarnBridge, DeFiEdge, Lyra, and Pickle Finance are among the projects that have already integrated Chainlink Automation to activate crucial smart contract processes on Premise. Chainlink Automation to safely and cost-effectively monitor automation logic off-chain and then launch an on-chain transaction to perform the smart contract function when predetermined criteria are satisfied.

Source

@TradeCryptoNow

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15 May 2023 05:30

🪙 Over 440,000 Ethereum Added to Liquid Staking Derivatives in Two Weeks

In less than two weeks, the total value locked (TVL) in liquid staking derivatives has increased by 441,110 ether, worth roughly $793 million. While Lido Finance dominates the market with 74.35% of the TVL, competing liquid staking protocols Rocket Pool and Frax Ether have recorded double-digit gains of 34% to 42% in the past 30 days. The second-largest LSD protocol is Coinbase Wrapped Staked Ether, with 1,145,137 staked ether.

Liquid staking protocols continue to grow, with the top decentralized finance (defi) protocols recording an additional 441,110 ethereum (ETH). As of May 12, 2023, the total value locked (TVL) in liquid staking derivatives (LSDs) stands at 8,872,715 ether, equivalent to $16.101 billion. This marks a significant increase from the 8,431,605 ethereum locked in liquid staking protocols on April 30. In just 12 days, the number of ether deposits surged by an impressive 5.23%. Despite the recent addition of 441,110 ethereum, the TVL in LSDs is currently worth less than it was on April 30, owing to ethereum’s decline in market value. Notably, Lido dominates the market with a 74.3596% share.

Source

@TradeCryptoNow

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13 May 2023 06:09

🥇 Bitcoin 2023 Conference to Host Political Leaders from Around the World

Bitcoin enthusiasts, tech innovators, and industry leaders from around the world will come together to discuss the latest advancements in the Bitcoin industry at the Bitcoin 2023 Conference. The conference is committed to providing a platform for diverse views and opinions to build a strong Bitcoin community that focuses on solving real problems and finding solutions. The program includes speakers from all spheres of society, from academics to engineers to politicians.

Prominent political figures speaking at the conference include Cynthia Lummis, Senator from Wyoming; Governor Ridwan Kamil of West Java, Indonesia; Congressman Patrick McHenry of North Carolina; Congressman Byron Donalds of Florida; Tulsi Gabbard, former Democratic Congresswoman from Hawaii; and David McIntosh, former Congressman & White House Senior staff. Senator Lummis, a staunch advocate for Bitcoin and technological innovation, will share her views on cryptocurrency's role in the financial industry. She has been a vocal proponent of Bitcoin, co-sponsoring the Financial Innovation Act of 2021, which calls for a regulatory framework for cryptocurrencies and blockchain technology.

Source

@TradeCryptoNow

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11 May 2023 21:28

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Article:
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10 May 2023 07:02

🏦 Coinbase CLO Now Criticizes SEC For Crypto Custody Proposal Mistakes

The crypto exchange Coinbase’s chief legal officer, Paul Grewal, highlighted that even if the US Securities and Exchange Commission (SEC) needs a thorough revision of the laws, registered investment advisers (RIAs) must deposit client funds in a compliant custodian. His convincing counter-arguments call the SEC’s approach into question and provide a more reasonable response. Grewal makes a persuasive argument for why the plan should be revised.

Although the US Securities and Exchange Commission recognizes Coinbase Custody as a qualified custodian, Coinbase argues the updated RIA custody regulation singles out crypto to make incorrect assumptions about custodian activities based on securities. Other asset classes, including crypto assets, are not adequately protected by the SEC’s proposed regulation. The CLO brazenly said that the SEC’s plan to prohibit RIAs from trading on non-QC crypto exchanges would have the opposite effect, damaging the same RIAs and customers it seeks to safeguard. Grewal favors a more cautious approach, allowing for minimal non-QC exposure to allow RIAs to trade cryptocurrencies for their customers without undue limitations.

Source

@TradeCryptoNow

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08 May 2023 11:35

🪙 Ethereum (ETH) Could be Hit by New Wave of Volatity: Data

Ethereum network’s active deposits have reached an eight-month high. This metric depicts the total number of all incoming and outcoming transactions involving deposit addresses and accounts for both user-to-exchange transactions – from a personal wallet to a deposit address, as well as from a deposit address to the main exchange wallet. According to the latest data compiled by crypto-analytic Santiment, the deposits hitting an eight-month high could potentially foreshadow volatility in Ethereum’s price.

In such a case, the enhanced price movements are likely to have a similar effect on the asset to that of the blockchain’s highly anticipated transition from PoW to PoS during Merge, as well as the FTX’s collapse. The volatility forecast comes as Ether’s price remained trapped in a tight range amid low trading volume, unfazed by the Fed’s widely expected 25 basis point interest rate hike. While it is unclear as to the direction Ether’s price will be swayed in the near term, data suggest increased selling pressure on the asset. ETH suppression in the price comes as whales holding 1,000 to 10,000 ETH offloaded a massive amount of tokens over the past two weeks.

Source

@TradeCryptoNow

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06 May 2023 06:44

📣 Voyager could distribute cash and crypto to creditors in ‘next few weeks’

Bankrupt lender Voyager Digital could start distributing cash and crypto to creditors “within the next few weeks,” according to the Official Committee of Unsecured Creditors in the troubled crypto lender’s bankruptcy case. “Voyager is also finalizing everything internally that is necessary to make distributions to creditors,” the creditors committee said on Twitter. "We are hopeful that initial distributions will begin within the next few weeks.

The court-approved restructuring plan had included a “toggle” that allowed Voyager to liquidate if Binance.US decided to exit the deal. The crypto exchange said it backed away from the plan due to the “hostile and uncertain regulatory climate in the United States.” The failed deal between Voyager and Binance.US was met with government scrutiny. The U.S. Securities and Exchange Commission indicated in a court hearing that staff believe Binance.US is operating an unregistered securities exchange in the country, although the commission hasn’t taken an official position. Voyager must first file the liquidation procedures in the U.S. Bankruptcy Court.

Source

@TradeCryptoNow

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04 May 2023 05:14

🖼 ConsenSys Layer 2 network Linea adds loyalty NFT campaign to drive adoption

ConsenSys-built Layer 2 network Linea is introducing a loyalty NFT campaign to boost activity on its testnet. The program will reward users with NFTs for performing certain tasks related to using the testnet, according to a blog post. The plan aims to help stress the network and test activities at scale ahead of the network’s mainnet launch expected in the coming months.

The weekly challenges will involve using bridging protocols built on the Linea testnet including Hop Protocol, Celer Network, Multichain and Connext. Bridging refers to the transfer of digital assets across different networks. The campaign follows similar ones run by Layer 2 networks Arbitrum, Optimism and Polygon that all used the loyalty platform Galxe, which will also be used by Linea. The campaigns have often resulted in large increases in activity on Layer 2 networks, sometimes causing congestion on the network. Arbitrum’s Odyssey campaign even resulted in fees temporarily rising higher than on the Ethereum mainnet, a suboptimal result for a supposed scaling solution.

Source

@TradeCryptoNow

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02 May 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 Apr 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 Apr 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 Apr 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.

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25 Apr 2023 08:49

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24 Apr 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.

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