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25 Sep 2023 08:11

🪙 Avalanche Unleashes Cortina 11 Upgrade To Increase Performance

Ava Labs’ Engineering Vice President, Patrick O’Grady, took to X (formerly Twitter) to announce the release of Avalanche’s Cortina 11 (v1.10.11) upgrade. This release, which is backward compatible with v1.10.0, is now available as an optional upgrade, with strong recommendations from the development team to embrace its features. The update brings several enhancements to the Avalanche blockchain ecosystem.

Key highlights of the Cortina 11 upgrade include the introduction of ArchiveDB, a refactored RewardValidatorTx logic, and a versatile file tracking package. These improvements aim to enhance the platform’s functionality and streamline operations for developers. Avalanche, the proof-of-stake blockchain created by Ava Labs, initiated the Cortina upgrade on its mainnet back in April. This upgrade marked a pivotal moment for the network by optimizing its infrastructure to cater to developers’ needs. Notably, the v1.10.0 update included a major migration of the X-Chain to run on the Snowman++ consensus. This consolidation resulted in the entire network operating under a single consensus engine, paving the way for the integration of Avalanche Warp Messaging (AWM) and the facilitation of complex X-Chain transactions.

Source

@TradeCryptoNow

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23 Sep 2023 19:12

🪙 Justin Sun’s Huobi Bold Transformation: HTX Emerges As A Game-Changer In Crypto

Justin Sun’s Huobi Global, a prominent cryptocurrency exchange, surprised the crypto community with its recent rebranding to “HTX.” The new name, explained in a blog post on the exchange’s website, symbolizes Huobi (H), Sun‘s blockchain Tron (T), and “exchange” (X). This change coincides with Huobi’s tenth anniversary, marked by the Roman numeral X. However, it has drawn comparisons to FTX, the exchange that made waves in the crypto market at the end of the previous year. This remains a lingering pain for the industry to this day.

FTX faced a downturn partly due to its heavy reliance on its native exchange token, FTT, which it used for collateral and valuation. Additionally, FTX held significant positions in tokens linked to projects backed by its founder, Sam Bankman-Fried, often referred to as “Sam’s Coins.” As FTX’s reputation waned, the value of these tokens plummeted. According to Bloomberg, Huobi’s reserves are primarily composed of tokens connected to Justin Sun, accounting for approximately 60%, raising concerns about its vulnerability to price fluctuations in Sun’s tokens. Additionally, Huobi’s holdings of USDT, a widely traded cryptocurrency, have been declining. This rebranding occurs as Sam Bankman-Fried faces trial for his role in FTX’s troubles, further fueling comparisons between the two exchanges.

Source

@TradeCryptoNow

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19 Sep 2023 13:28

🪙 $150 Million Worth Of Notional Ethereum Calls Actively Participated By Whale

Ethereum, the second-largest cryptocurrency, has been wrestling with significant price challenges, but recent developments in whale activity hint at a potential rebound. Data from Greeks.live reveals that within the last hour, over 40,000 ETH Block calls were executed, with the majority opting for 29DEC23-2200-C. Furthermore, almost 50,000 ETH calls for 27OCT23-2000-C were purchased the previous night. This surge in call options trading amounted to a staggering 92,600 ETH. A notable whale invested $150 million in notional ETH calls, all of which were naked buys, signaling bullish long-term expectations.

Ethereum’s price managed to breach the $1,620 resistance level. However, it struggles to gather momentum beyond the $1,650 mark, mirroring Bitcoin’s challenge. A recent alert from Whale Alert raised eyebrows in the crypto world, hinting at Ethereum whales potentially devising an exit strategy. This alert disclosed a substantial transfer of 22,343 ETH. While ETH’s price may appear stagnant since last September, trading around $1,600, underlying factors like ETH derivatives and network activity could hold the key to the elusive $1,800 milestone. Significant developments under the surface, such as a decrease in Ethereum‘s overall supply and a notable increase in staked ETH, suggest the potential for positive price movement.

Source

@TradeCryptoNow

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17 Sep 2023 17:40

🇰🇵 Lazarus Group’s $240 Million Crypto Heist Shocks with 104-Day Streak

In a recent report released by blockchain monitoring platform Elliptic, alarming details have emerged regarding the involvement of the notorious North Korean hacker group Lazarus Group in a series of major cryptocurrency hacks. The hacking spree began in June with an assault on Atomic Wallet, followed by attacks on payments firms Alphapo and CoinsPaid in July. Most recently, Lazarus Group struck again with the encryption attack on Stake.com, further raising concerns about the group’s audacity and capabilities.

Elliptic’s findings reveal that the Lazarus managed to pilfer an astonishing sum of nearly $240 million in cryptocurrency within a mere 104 days. This brazen and highly successful campaign underscores the group’s increasing expertise in the world of cybercrime. What is particularly concerning is Lazarus Group’s shift towards targeting centralized platforms rather than decentralized ones. This shift suggests a calculated strategy change, potentially driven by the belief that centralized platforms are more vulnerable to social engineering attacks. The Lazarus Group has been responsible for a string of high-profile cyberattacks in the past. This includes the infamous WannaCry ransomware attack in 2017, which disrupted organizations worldwide. Their latest exploits indicate that they continue to pose a significant threat to the global cryptocurrency ecosystem.

Source

@TradeCryptoNow

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15 Sep 2023 08:06

🏴 Aptos Set To Unlock $103 Million In Tokens: A Boost To Liquidity

Aptos (APT) is getting ready to release tokens valued a total of $103 million. Aptos, a Layer 1 protocol founded by former Facebook employees, is poised to release a substantial amount of tokens, with plans to issue 20 million Aptos (APT) tokens in November, according to data from TokenUnlocks. At the current market price of $5.17 per token, this unlocks an impressive $103 million worth of APT tokens, representing over 8.5% of Aptos’ circulating supply of 235.02 million.

The forthcoming release of APT tokens is expected to inject significant liquidity into the market, as reported by research firm The Tie, which specializes in digital assets. Notably, the issuance of 20 million APTs amounts to 112% of the average daily trading volume over the preceding 30 days. To manage this unlock, Aptos will adopt a phased approach, with the initial release set at 5.83 million APT tokens in November, equivalent to 32% of the average daily volume. By December, this figure is anticipated to rise to 6.15 million APTs. Over the past year, Aptos has been consistently unlocking 4.62 million APTs each month for various community and organizational purposes.

Source

@TradeCryptoNow

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12 Sep 2023 21:44

🍣 Sushi Swims Beyond Ethereum To Layer 1 Aptos, Aims For Cross-Chain Glory

Leading decentralized exchange (DEX) platform Sushi is embarking on an expansion into the Aptos Network, marking a significant move as it ventures beyond the Ethereum Virtual Machine (EVM) ecosystem. The integration will see the DEX’s key components, including Sushi v2 AMM and SushiXswap, seamlessly integrated onto the Aptos Network. This pioneering collaboration with Aptos represents a crucial step in realizing its vision of achieving cross-chain and multi-chain prominence.

While the DEX has been a prominent player in various EVM chains, such as Ethereum, Fantom, Polygon, Arbitrum, and BNB Chain, this expansion signifies its commitment to diversifying its presence and embracing innovation. Its governance has actively pursued strategies to enhance its protocol, recently passing a proposal to increase liquidity in one of its pools. DWF Labs, a global digital asset market maker, has proposed a collaboration to bolster liquidity and trading depth for SUSHI tokens within the V3 protocol. As the DEX’s integration with Aptos Network unfolds, it represents a promising step towards greater interoperability and a world-class user experience for both Sushi and Aptos users and developers.

Source

@TradeCryptoNow

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11 Sep 2023 14:42

🪙 Bitcoin ETF Market Will Grow Into A $100 Billion Juggernaut If Approved

US spot Bitcoin ETF market potential to reach $100B, attracting new money. Cheaper, more efficient than futures ETFs. According to Bloomberg Intelligence estimates, if approved, the US spot Bitcoin ETF market has the potential to grow into a $100 billion juggernaut over time. Analysts suggest that new money, particularly those looking to buy and hold over longer time periods, will be attracted to a spot product, which is also likely to be cheaper and more efficient than the current futures ETFs on US exchanges.

While Bitcoin-futures ETFs have received a warm welcome as they marked a watershed moment for the crypto industry, they have trailed Bitcoin’s rally this year. The expense associated with rolling over specific futures contracts as they expire has eaten into returns, causing the funds to become unmoored from the asset they track. With spot ETFs more likely than futures-based ones to be a reflection of real-time supply and demand, their introduction may cause “migration of trading activity and liquidity” away from Bitcoin futures markets in the US. Proponents are optimistic that the heft of the issuers involved and Grayscale’s recent court win may finally tilt the odds in favor of these funds being approved.

Source

@TradeCryptoNow

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08 Sep 2023 10:59

📣 Accounting regulator will let firms report crypto at fair market value: Bloomberg Law

The Financial Accounting Standards Board, a U.S. regulating body that sets general accounting practices, has approved new rules to allow companies to report their crypto holdings at fair market value. The rules will be published by the end of 2023 and become active in 2025, but companies can apply the rules early, Bloomberg Law reported. Wrapped tokens are exempt from the new rules. Cody Carbone, vice president of policy at the blockchain trade association Chamber of Digital Commerce, called the decision "huge news."

"The previous accounting measurement was one of the biggest barriers for institutions to hold crypto — they were measured at impairment (measured when price went down but not up)," he added. "Fair value makes sense and will encourage institutional holdings of crypto." Fair market value describes an asset's most recent valuation, which can include prices recovering after a dip. Many major web3 firms such as MicroStrategy and Bitfinex hold bitcoin on their balance sheets. The new rules can "eliminate the poor optics that have been created by impairment losses under the rules that FASB has had in place," Berenberg Capital said in a report. "MicroStrategy, since adopting its bitcoin acquisition strategy in August 2020, has reported $2.23 billion of cumulative impairment losses," the report said.

Source

@TradeCryptoNow

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06 Sep 2023 09:11

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04 Sep 2023 20:44

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02 Sep 2023 20:57

🔻 OP Labs hires former Google exec as chief operating officer

Prithvi Subburaj, previously a general manager at Google, has taken on the role of chief operating officer at OP Labs — a core developer of the Optimism Collective, which governs the Layer 2 network Optimism. The appointment of Subburaj follows Optimism co-founder Karl Floersch’s transition to the role of CEO at OP Labs earlier this year. According to the firm, Subburaj is its first executive hire following this change in leadership.

“Prithvi brings the expertise and leadership needed to scale our teams and processes to support this exponential growth and future potential,” said Karl Floersch, CEO of OP Labs. Subburaj’s background includes leading roles focused on software engineering at Google, where he most recently managed the tech giant's wireless subscription service Google Fi. He was at Google for over 15 years. He has joined OP Labs at a time when the firm is zeroing in on the development of key technological components such as the recent Bedrock upgrade and the upcoming Fault Proof system. The firm previously developed the OP Stack, a software package that has been utilized in the development of Layer 2 chains such as Coinbase-backed Base, Zora, and others.

Source

@TradeCryptoNow

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01 Sep 2023 20:49

🏦 Gemini Outrageously Opposes Genesis’ Chapter 11 Bankruptcy Plan

Gemini, along with two other creditor groups, has expressed opposition to the bankruptcy resolution proposal put forth by Genesis, a crypto lender currently undergoing Chapter 11 proceedings. In a recent filing, Gemini’s legal representatives underscored that the proposed resolution lacked substantial specifics despite being labeled an “agreement in principle” between Genesis, the Commission, and Digital Currency Group (DCG).

The ongoing commitment to address DCG claims through mediation extensions, hearing postponements, and bid deadline extensions has raised questions about the execution of these pledges. DCG had previously reached a preliminary agreement with the creditors of Genesis. Genesis had filed for Chapter 11 earlier this year following a liquidity crisis attributed to the downfall of crypto exchange FTX. The proposed in-principle deal envisions DCG orchestrating fresh debt facilities and a repayment arrangement, including a $328.8 million first-lien facility with a 2-year maturity and an $830 million second-lien facility with a 7-year maturity.

Source

@TradeCryptoNow

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31 Aug 2023 00:44

💰 The Graph’s Phase 3 L2 Scaling Surges with Cutting-Edge Transport Engine

The Graph has taken a significant stride forward by formally embarking on the conclusive phase of its Layer 2 (L2) expansion. The much-anticipated L2 migration has been set into motion, ushering in a new era of enhanced accessibility to Arbitrum Charts. This development brings forth an array of tools designed to simplify the process of transitioning to Layer 2. The core advantage of this L2 migration lies in the streamlined experience it offers to users.

With lower gas fees and accelerated transaction speeds, the transition to Arbitrum Charts becomes not only more cost-effective but also remarkably swift. This move strategically addresses the persistent challenges associated with scalability and efficiency in the blockchain ecosystem. One of the standout features is the ability for users to seamlessly convert Graph Token (GRT) or subgraphs to the Layer 2 infrastructure. This innovation introduces an unprecedented level of flexibility, enabling individuals to harness the potential of Layer 2 while retaining their existing assets and resources. This announcement resonates profoundly with the crypto community as it underscores The Graph’s commitment to continuous evolution and improvement.

Source

@TradeCryptoNow

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28 Aug 2023 10:19

🇹🇭 Thailand’s Parliament Picked a Pro-Crypto Prime Minister

Srettha Thavisin’s former company purchased a stake in the crypto firm XSpring Capital in 2021 and issued its own token. The government of Thailand voted in favor of Srettha Thavisin (candidate of the Pheu Thai Party) to become the country’s next Prime Minister. The 61-year-old has interacted with the cryptocurrency industry since the company he was in charge of was an active investor in the digital asset investment management firm XSpring Capital. Thailand has been quite hesitant regarding how to approach the sector over the years.

Thavisin, who received 482 votes out of a possible 747, was elected as the 30th Prime Minister of Thailand earlier this week. He now needs the signature of King Maha Vajiralongkorn to officially step into office. It is worth mentioning that Thavisin does not have rich experience on the political scene. He comes from the business sector as the former CEO of the real estate giant Sansiri. He is familiar with the crypto field since his company participated in a $225 million fundraiser for the digital asset management firm XSpring Capital. Another interesting fact is that the Pheu Thai Party (the one which nominated Thavisin a Prime Minister) vowed to distribute 10,000 baht ($285) to each Thai citizen above 16 years if it wins the general election in May. The organization finished second, collecting 28% of the vote, while Move Forward was first with 38%.

Source

@TradeCryptoNow

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25 Aug 2023 20:30

🪙 MakerDAO Supercharges RWA Assets, Skyrockets to $2.537 Billion

MakerDAO’s latest transaction has propelled its Real World Assets (RWA) holdings by an impressive $50 million within a mere 24 hours. The move comes as part of MakerDAO’s strategic investment initiative, aimed at diversifying its portfolio and securing promising short-term Treasury bonds. The data from Makerburn, a popular analytics platform, revealed that the organization had acquired BlockTower Andromeda short-term Treasury bonds, boasting an alluring annual yield of 4.5%.

The RWA assets under MD’s purview now stand at a considerable approximate value of $2.537 billion. This figure underscores the organization’s steady progress in managing a diversified portfolio that spans a range of valuable assets. Among these holdings, the crown jewels are undoubtedly Monetalis Clydesdale and BlockTower Andromeda. The former commands a substantial worth of about $1.14 billion, while the latter, BlockTower Andromeda, contributes an impressive $652 million to the burgeoning RWA assets. The acquisition of the BlockTower Andromeda short-term Treasury bonds reflects MakerDAO’s commitment to securing assets with stable returns, further enhancing the organization’s financial stability.

Source

@TradeCryptoNow

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24 Sep 2023 20:38

💸 CoinShares launches hedge fund division in US expansion

European crypto asset manager CoinShares International Ltd has launched a new hedge fund division, CoinShares Hedge Fund Solutions, as the company expands into the U.S. market. “CoinShares Capital LLC, a wholly-owned subsidiary of CoinShares and a broker-dealer registered with the Financial Industry Regulatory Authority (FINRA), will be conducting marketing activities to qualified investors in the United States in support of CoinShares Hedge Fund Solutions’ strategies and products,” the statement added.

CoinShares appointed traditional asset management veteran Lewis Fellas to head the new division. “CoinShares inspired my move into crypto asset management in 2016, so being able to lead the new division within the firm and further pioneer the space is an honor,” Fellas said. “The design of our strategies reflects the team’s deep and practical knowledge of digital assets and showcases the firm’s ability to develop new products that meet the demands of institutional investors.” “The long-awaited return of interest rate-driven volatility is a great opportunity that we plan to capture with our novel fund products,” Fellas added. “Each product that will be offered is designed to mitigate counterparty risk whilst providing investors with clearly defined asset class and strategy exposures.”

Source

@TradeCryptoNow

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21 Sep 2023 07:51

🇭🇰 Hong Kong Regulator Monitors JPEX Since March 2022

Hong Kong Securities and Futures Commission (SFC) has issued a stern statement regarding JPEX, a virtual asset trading platform, citing questionable operations, and false and misleading statements. JPEX, once a player in the virtual asset trading arena, has abandoned its supervisory responsibilities, raising concerns since March 2022. The China Securities Regulatory Commission has been closely monitoring JPEX and has initiated investigations into alleged false and insincere disclosures made by the platform.

The SFC’s frustration with JPEX’s lack of cooperation and substantive response to its inquiries has led to decisive action. The platform is now slated to be added to the Securities Regulatory Commission’s list of unlicensed companies and suspicious websites in July 2022. The disclosure of confidential communications on JPEX’s website has serious implications, as these communications were a part of the SFC’s ongoing inquiries and investigations into JPEX. The SFC has made it clear that JPEX has never applied for a license with them, nor have any entities associated with the JPEX Group been granted licenses to operate a virtual asset exchange in Hong Kong. There has been no official communication between the Securities Regulatory Commission and JPEX regarding licensing matters.

Source

@TradeCryptoNow

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18 Sep 2023 22:30

🇰🇪 Worldcoin Parent Company Invests $4.8 Million In Kenya For Cryptocurrency And Blockchain Education

Tools for Humanity, the parent company of Worldcoin, has announced a substantial investment of nearly $4.8 million in cryptocurrency and blockchain education initiatives in Kenya. CEO Alex Blania revealed the commitment to fostering educational efforts in the blockchain and crypto space, underscoring the importance of equipping individuals with the knowledge and skills necessary to navigate the evolving digital financial landscape.

Alex Blania took the opportunity to address recent allegations that Worldcoin had intentions to sell user biometric data collected through eye-scanning technology. Blania categorically denied such claims, emphasizing that Tools for Humanity (TFH) is not directly involved in educational activities but relies on third-party partnerships for its initiatives. Notable collaborators include Strathmore University, the Kenya Blockchain Association, the U.S. Chamber of Commerce, and the Africa Blockchain Center. Worldcoin funds into cryptocurrency and blockchain education in Kenya aligns with the broader mission of TFH and its commitment to supporting initiatives that contribute to the global adoption of blockchain technology.

Source

@TradeCryptoNow

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16 Sep 2023 21:40

🇺🇸 SEC Accuses Binance.US Is Breaching Agreements Set Forth In Lawsuit

The U.S. Securities and Exchange Commission (SEC) has taken legal action against Binance.US, accusing the cryptocurrency exchange of non-cooperation during an investigation. The SEC has expressed dissatisfaction with the evidence provided by Binance.US’s holding company, BAM, which amounted to roughly 220 documents, including incomprehensible screenshots and documents lacking dates or signatures. The company countered these claims, stating that their use of Ceffu’s wallet services did not grant access to customer funds.

Federal regulators are concerned that Binance‘s reliance on Ceffu’s custody service violates an earlier agreement designed to prevent assets from being moved offshore. The SEC further alleges that its submission of sealed documents in response to earlier requests has caused significant delays in the case. This legal dispute has caused a stir in the crypto industry, impacting investor sentiment and trading volumes on other exchanges, such as Binance.US executives have recently departed. In a recent development, both the SEC and Binance, along with its U.S. affiliate, have agreed to unseal several documents related to the case. The legal battle between the company and the agency continues to unfold, with implications for the broader cryptocurrency industry.

Source

@TradeCryptoNow

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13 Sep 2023 15:54

🪙 Hashdex Makes Waves With Innovative Spot Ethereum ETF Application In The US

Hashdex, renowned for its innovative investment strategies, has entered the competitive arena of Ethereum exchange-traded funds (ETFs) in the United States. The move comes in response to the escalating demand for cryptocurrency-based investment products. According to Bloomberg analyst James Seyffart, Hashdex recently submitted an application for a spot Ethereum ETF, aptly named the “Hashdex Nasdaq Ethereum ETF.” This proposal mirrors their earlier approach regarding Bitcoin, combining futures and spot trading strategies.

For the uninitiated, ETFs, or exchange-traded funds, are investment instruments traded on traditional stock exchanges; their value is intrinsically tied to underlying assets, which could encompass a variety of assets, from stocks to commodities. Hashdex’s approach sets it apart from recent contenders in the ETF arena, as it does not rely on the commonly discussed Coinbase surveillance sharing agreement. Instead, the company plans to source spot Ethereum directly from established physical exchanges within the CME market. The company has already filed a similar application for a Bitcoin futures ETF, further diversifying its crypto ETF offerings.

Source

@TradeCryptoNow

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10 Sep 2023 10:04

📣 IMF and FSB Release 'Policies for Crypto Assets' at G20 Request

The International Monetary Fund (IMF) and the Financial Stability Board (FSB) published their joint synthesis paper titled “Policies for Crypto Assets” on Thursday. The report was developed at the request of the Indian G20 Presidency. “This paper’s key objective is to synthesize the work of the IMF and the FSB,” the report details, adding that the two international organizations “have advanced policy and regulatory recommendations to identify and respond to macroeconomic and financial stability risks associated with crypto-assets.”

One of the many issues covered in the report is blanket bans on cryptocurrencies. “Blanket bans that make all crypto-asset activities (e.g., trading and mining) illegal can be costly and technically demanding to enforce. They also tend to increase the incentives for circumvention due to the inherent borderless nature of crypto-assets, resulting in potentially heightened financial integrity risks, and can also create inefficiencies,” according to the IMF and the FSB. The IMF and the FSB, together with other international organizations (IOs) and standard-setting bodies (SSBs) “have set out a roadmap to ensure effective, flexible, and coordinated implementation of the comprehensive policy response for crypto-assets,” the paper states, elaborating.

Source

@TradeCryptoNow

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07 Sep 2023 14:33

🔵 Native USDC Now Seamlessly Available On Base Network

Native USDC (USD Coin) is now effortlessly accessible on the Base network, eliminating the need for complex bridging processes. Circle, a trusted entity in the digital currency space, officially issues native USDC. This means that users can seamlessly exchange their native USD Coin for US dollars at a 1:1 ratio, underscoring its reliability and stability as a digital currency. This exciting integration, announced via the official Circle blog on September 5, extends the convenience and utility of USDC to developers and users within the Base network.

To access this token on the Base network, developers and users can utilize Circle accounts and Circle API, both of which fully support Base USDC. This user-friendly integration streamlines the process of incorporating USDC into transactions, providing a smoother experience for participants in the Base network ecosystem. Base is also actively collaborating with its ecosystem partners to facilitate the seamless migration of liquidity from USDbC to USDC. This transition ensures that users can transition their assets smoothly and efficiently, enhancing their overall experience within the Base network. Coinbase enables users to conveniently deposit USDbC and withdraw USD Coin to a digital wallet, including Coinbase Wallet, providing a straightforward gateway for users to access native USD Coin.

Source

@TradeCryptoNow

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05 Sep 2023 13:16

🟣 Multichain Token Surges 125% And Sees 7000% Volume Increase After CEO’s Arrest

Multichain token (MULTI) saw a 125% increase and nearly 7000% transaction volume surge. Trading at $2.15 with recent news of CEO’s arrest. Multichain token (MULTI) experienced a massive increase of 125% in the past 24 hours, according to CoinMarketCap. The transaction volume also spiked by nearly 7000%. At the time of this writing, MULTI is trading at $2.15 after hitting a peak of $2.38 a few hours ago.

Despite this setback, the project has repositioned itself as an infrastructure for arbitrary cross-chain interactions, an ultimate router for Web 3. Evolved from Anyswap, a decentralized cross-chain swap protocol with DEX trading and liquidity mining rewards, Multichain is designed to allow for cross-chain interactions seamlessly and safely. The total supply of MULTI will be 100 million according to the fixed exchange ratio with ANY as the total supply of ANY is 100 million. Currently, ANY circulating supply is 18,639,320, accounting for 18.64% of the total. Once the swap is completed, MULTI circulation will be 18,639,320 while the uncirculated accounts for 81.36%.

Source

@TradeCryptoNow

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04 Sep 2023 20:16

🪙 FTX filing shows company bought yacht for former co-CEO Sam Trabucco

A recent filing from the FTX debtors, led by CEO John Ray III, revealed how the executives of Alameda Research, the trading firm primarily owned by former FTX CEO Sam Bankman-Fried, benefitted from personal cash transfers of company funds. Included within the list were over $900 million in transfers to Sam Bankman-Fried labeled simply as “Cash Payment,” $15.5 million in cash transfers, and a single $3.5 million transfer to ex-Alameda CEO Caroline Ellison.

The list also showed a $2.5 million payout to the American Yacht Group for ex-Alameda co-CEO Samuel Trabucco. The trader said he had recently bought a boat when he announced his resignation from the company a few months before it collapsed. "I hope he has a great time on his boat!" said Ellison at the time. Other Alameda staff mentioned in the documents include co-founder Gary Wang and former engineering director Nishad Singh, who have both plead guilty and are expected to testify against Bankman-Fried as well as former FTX co-CEO Ryan Salame, who is not expected to testify. Trabucco, who has not faced any criminal charges, has yet to speak publicly following the collapse.

Source

@TradeCryptoNow

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01 Sep 2023 21:56

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31 Aug 2023 05:51

🇯🇵 Japan’s Financial Services Agency Charts Bold Path Towards Digital Future With Web3 Embrace

Japan’s Financial Services Agency has unveiled its financial policy guidelines for the upcoming administrative year, spanning July 2023 to June 2024. Under the banner of “Constructing a Financial System Aligned with Societal Concerns and Economic Advancement,” the agency has put forth the ambitious objective of realizing a digital society. This encompassing goal encompasses plans for the implementation of digital currencies and encrypted assets in line with Web3 policies.

Among the proposed strategies is the facilitation of a registration review system, aimed at enabling seamless issuance and circulation of stablecoins. The encouragement of self-regulatory bodies is also highlighted in these policies. The country’s largest global Web3 conference, “WebX,” held in July, enjoyed sponsorship from Japan’s Financial Services Agency. The conference featured a video speech by the Prime Minister, reaffirming the government’s robust backing of the Web3 policy. The pursuit of sustainable economic growth is a cornerstone of Japan‘s financial management approach for this fiscal year. The agency is set to formulate pertinent financial legislation to support this objective, with plans to promptly submit relevant bills to Congress.

Source

@TradeCryptoNow

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29 Aug 2023 21:48

💰 Shibarium Reopened Withdrawal For Cross-chain Bridge On Mainnet

The developers of layer 2 Shibarium said that withdrawals on its cross-banana bridge have resumed after a temporary shutdown due to overload. The move comes after the team temporarily suspended both the Shibarium mainnet and the bridge recently, citing scalability issues and locking down millions of dollars in user funds effectively. Shibarium has accumulated over 65,000 wallets and 350,000 transactions, Shiba Inu lead developer Shytoshi Kusama revealed in a blog.

Its mainnet was originally launched on August 16 but was quickly halted. The team attributed the halt to the “huge flow of transactions” and assured users they would regain full access to their funds once the mainnet was back up. Shibarium has accumulated over 65,000 wallets and 350,000 transactions, Shiba Inu lead developer Shytoshi Kusama revealed in a blog. Explorer Shibariumscan.io shows that the Shibarium mainnet has been producing blocks since August 24. By design, withdrawal of Shib, Leash, WEth across the bridge takes at least 2 Checkpoints (45 minutes to 3 hours), and BONE withdrawal will take up to 7 days. These are working assertions, as seen below. Shibarium is a layer 2 blockchain developed by the creators of the memecoin Shiba Inu to facilitate the transfer of tokens to Ethereum.

Source

@TradeCryptoNow

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26 Aug 2023 09:27

🇭🇰 HashKey to start crypto retail trading service in Hong Kong next Monday

HashKey Exchange, an Asia-based cryptocurrency exchange, is set to start offering crypto trading services to retail clients starting from Aug. 28, its executive said. In an interview with The Block, Livio Weng, HashKey’s chief operating officer, said the exchange will commence its retail trading services for bitcoin and ether — the two largest cryptocurrencies in circulation — only. Weng said offering trading services for the two tokens can fulfill most retail investors’ needs.

The new operation comes after HashKey, earlier this month, became the first crypto outfit in Hong Kong to obtain a license under the city’s new licensing regime, which permits crypto trading platforms to offer retail services. Weng added that both the company and Hong Kong’s financial regulator hold a more prudent approach toward offering retail trading services. “We thought it’d be better to be more prudent,” Weng said. “In a bearish market environment, there could be higher risks trading the so-called altcoins, so we hope to offer tokens that come with relatively lower risks at first.”. “This could potentially bring in tens of millions of users who trade Hong Kong stocks on these platforms.”

Source

@TradeCryptoNow

Trade Crypto Now

24 Aug 2023 22:56

📣 3 Pendle Pools Affected By Balancer’s Emergency Measures, Money Is Safe

According to the official announcement from the DeFi Pendle Finance profit agreement, it was announced that 3 of the platform’s liquidity pools were affected by the Balancer’s emergency measures. The 3 Pendle pools, including ETHx-bbaWETH, swETH-bbaWETH, and swETH-bbaWETH (old) and others, will not be affected. Funds in the affected pools are safe, but the swaps in the Base Balance pool have been disabled. This means there will be no additional fees or benefits.

Balancer Labs has received reports of a critical vulnerability affecting several teams. The vulnerability report prompted immediate emergency measures. The most money on Balancer is safe. Only 1.4% of total TVLs are at risk, and only enhanced groups are affected. Some groups are paused to reduce risk. Emergency SubDAO has initialized proportional exit options for all affected pods in response to this situation. Additionally, groups that are still on hiatus have been temporarily suspended as a precautionary measure. Balancer has provided a personalized page on the user interface to determine if a connected wallet is an LP in any affected pool and a streamlined process to guide you through withdrawals.

Source

@TradeCryptoNow