Crypto Calendar News

2023-03-26 07:05:03 Tether’s (USDT) Market Cap Sees 17% YTD Surge Amidst Banking Crisis

The banking sector could potentially undergo a much-needed revamp, but until then, investors appear to be scrambling for a safety net. As the traditional financial world is rocked by the Credit Suisse chaos and the failure of a series of US banks, investors have flocked to the largest stablecoin, Tether (USDT). Silicon Valley Bank (SVB), Signature Bank, and Silvergate Capital, once served as a vital tripartite of lenders.

The fintech firm Circle admitted a $3.3 billion exposure to SVB, which briefly dragged its USDC token to 88 cents instead of its usual one-dollar price. The token has regained its peg, thanks to the lifeline provided by the US regulators as they moved to ensure that the deposits in Silicon Valley were safe while Circle promised financial support. USDC is the second-largest stablecoin and is also widely used in decentralized finance (DeFi). While the latest turns of events did not transpire into a Terra-like catastrophe, the threat was massive, and this has further aggravated the stablecoin crisis. This has resulted in USDC’s market cap falling by nearly 21% so far this year.

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2023-03-25 09:42:02 zkSync Releases Important Update Execution Delay For Security Mechanism

According to the official Twitter, the Ethereum Layer 2 network based on ZK Rollup zkSync has released an essential update of the security mechanism: the introduction of Execution Delay. Because security comes first, the network has completed robust testing, multiple level 1 security checks, public contests, and bug bounties. It has a system running on the test network implemented carefully and gradually over a 12-month period.

Execution latency means every block of L2 committed to L1 will have a time lock until it is executed and finalized. Initially, this delay will be 24 hours, and as the system matures, this delay will gradually decrease until it is eliminated. The execution delay ensures that there is enough time to validate transactions in a block before the block becomes final. It will be able to prevent rapid exhaustion of the protocol if critical bugs are discovered and exploited. With the update, the zkSync team will monitor each block and can investigate any anomalies and warning signs, such as rapid outflows or substantial withdrawals.

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2023-03-24 08:33:02 Ethereum Lodestar Launches Groundbreaking V1.6.0, Streamlines Remote Monitoring

The Ethereum Lodestar 2.0 client has released version V1.6.0, which comes with new features and improvements that aim to enhance user experience. This update is a significant milestone in the ongoing development of the Ethereum 2.0 ecosystem. One of the most exciting features of the new version is the support for monitoring client applications via a remote server. This new feature allows users to monitor their client applications remotely.

In addition to the remote server support, the latest version of the Ethereum Lodestar 2.0 client also includes updates and improvements to several functions. These include bug fixes and performance enhancements that make the platform more efficient and reliable. However, there are a few things that users need to keep in mind before updating to the new version. Firstly, users are required to update the signaling nodes and validator client to ensure compatibility. This is a crucial step to ensure that all the components of the Ethereum 2.0 ecosystem work seamlessly together.

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2023-03-23 09:13:02 Senator Elizabeth Warren Unveils ‘Sham’ Crypto Audit Scheme

Senator Elizabeth Warren, a prominent US lawmaker, has voiced her concerns about the potential for “sham audits” of cryptocurrency companies, which could be contributing to the recent stresses in the US banking system. With another colleague, Warren has urged the Public Company Accounting Oversight Board (PCAOB) to take action against this practice, citing the potential harm it could cause to the integrity of the auditing system.

The PCAOB is authorized and overseen by the US Securities and Exchange Commission (SEC) and is funded by audited public companies. Warren and her colleague have argued that the watchdog has more legal reach than it is currently exercising and has a “broad responsibility” to protect the integrity of the auditing system. They have called on the board to take action against sham audits, which they say mislead the public and threaten the integrity of the auditing system. The issue of crypto auditing has been a topic of discussion in recent months, with the PCAOB acknowledging the potential problem and stating its concerns in a letter to the lawmakers. PCAOB Chair Erica Williams.

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2023-03-22 09:20:04 Immutable And Polygon Join Forces For Web3 Gaming

Immutable and Polygon partner to accelerate the development of web3 gaming. The partnership introduces Immutable zkEVM, empowering IMX holders and one billion players to own their assets on Ethereum. According to the announcement, the two leaders in web3 gaming have already invested nearly $2B in web3 games together. This partnership will introduce Immutable zkEVM, the future of gaming.

The strategic partnership aims to remove complexity and risks while accelerating their path to success on Ethereum. The partnership will also empower IMX holders with zkEVM, allowing them to launch the single biggest upgrade to any token’s utility in history. The partnership will expand from an exchange utility token to make IMX the native gas token of Immutable zkEVM. Additional expansions will also be announced over the next two months in partnership with the Digital Worlds Foundation. Web3 games have been lackluster, and the industry needs tools and infrastructure that allow builders.

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2023-03-21 08:33:02 MarketCap’s Conflux Exceeds $1.2 Billion, Token Grows 150% In 7 Days

According to data from Coinmarketcap, the market value of the public chain project Conflux has exceeded $1.2 billion, reaching a record high, reaching $1,203,186,715 to date and becoming one of the “crypto unicorns”. The CFX token has become the most profitable crypto asset of the week from CoinMarketCap’s top 100 after its price increased by more than 150% during this period.

The Conflux Network project aims to optimize blocks at the same time or meet the processing capacity of each node up to 3,500 TPS. Moreover, Conflux’s technology can confirm a block in 23 seconds, reducing transaction fees compared to PoW or PoS projects. Conflux is a public blockchain platform, possessing the highest TPS (transactions per second) while ensuring the system’s decentralization and the network’s safety. This project is the result of a combination of a unique and advanced algorithm with a novel and innovative structure, the Tree Graph (TG). The project emerged after integrating with China’s Instagram partner, Xiaohongshu, earlier this year.

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2023-03-20 08:15:06 SPACE ID Voyage Season 2 Is Set To Launch With More Rewards Than Referral Program

SPACE ID Voyage Season 2 is set to launch on March 19th, and it promises to be an exciting event for both new and existing users. This season’s campaign offers even more rewards and excitement than the Referral Program, which means participants have more opportunities to earn points and win big. The first phase, from March 19th to March 23rd, allows participants to claim and receive locked Voyage Boxes.

To participate in Voyage Season 2, users must either register a .bnb or .arb domain after March 14th, 2 PM UTC (new user) or have been eligible for the Retroactive Early Adopter Airdrop and held a .bnb or .arb domain before March 14th, 2 PM UTC (existing user). Upon joining, every new user receives a locked Voyage Box, which will differ for everyone based on their past on-chain activities. Voyage Boxes come in three different rarities – Voyage Uncommon Box, Voyage Rare Box, and Voyage Legendary Box – each containing random points that can be claimed after unlocking. The higher the rarity of the box, the more points a user can earn.

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2023-03-19 08:48:02 Cryptocurrency Ban Urged By European Parliament Member Amid Banking Turmoil

Former Belgian Finance Minister and European Parliament member Johan Van Overtveldt has called for a ban on cryptocurrency, stating that the digital asset industry provides “no economic or social value.”. Van Overtveldt made the comments on Twitter, amidst growing concerns about the banking sector, as Silicon Valley Bank, Signature Bank, and Credit Suisse face difficulties.

The contagion from the recent issues at Silvergate, Silicon Valley Bank, and Signature Bank may have influenced Van Overtveldt’s stance. As board member Barney Frank commented, the closure of Signature Bank sent a “strong anti-crypto message” from regulators. Despite Van Overtveldt’s comments, the crypto industry continues to evolve and grow, with an increasing number of institutions and individuals investing in cryptocurrencies. As the industry matures, regulations will likely continue to evolve to balance innovation with the need to protect investors and the broader financial system.

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2023-03-18 11:09:02 Polygon And Avail Split After 3 Years, Co-founder Forms A New Entity

Polygon spun out its modular blockchain project Avail into its own company. Anurag Arjun, the co-founder of Avail, departed and purchased the company, and the Avail employees will transition to the new organization. Avail is presently functioning on testnet, with the mainnet set to debut soon. As part of the spin-off, Avail will establish the Avail Foundation, a new non-profit foundation.

Polygon is said to have initiated the Avail project in late 2020 and made it public in mid-2021. Avail is a modular blockchain that enables developers to create scalable and flexible apps. Modular blockchains, as opposed to monolithic blockchains, segregate essential operations such as consensus, security, data availability, and execution. Arjun was a co-founder of this initiative earlier. Nevertheless, the purchase of the project by a different entity (owned by Arjun) would formally remove it from Polygon. Arjun’s whole Polygon team will be transferred to the new business as a result of this relocation.

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2023-03-17 07:43:02 TrueUSD (TUSD) Moves $1 Billion Reserves To Bahamas Due To US Banking Crisis

According to Bloomberg, Archblock oversees about $2 billion in reserves that back its stablecoin TrueUSD (TUSD). After the reserve transfer, Capital Union Bank now holds more than $1.4 billion, a real-time attestation by an independent accounting firm showed Wednesday. This is up from $438 million on March 10. Archblock began transferring funds after New York-based Signature Bank.

Archblock was founded in 2017 under the name “TrustToken” when it succeeded in making a name for TrueCurrencies (TUSD). September 2022, TrustToken decided to focus on research and development of DeFi products for businesses and financial institutions under a new brand of Archblock. Alex de Lorraine, Archblock’s chief financial officer and chief operating officer, told Bloomberg News that the decision to move funds to Capital Union in recent days was the result of worsening banking conditions for money businesses electronics in the US.

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