Crypto Calendar News

2023-03-07 10:56:02 Babel Finance Plans To Launch Stablecoins To Offset A $766 Million Debt

Babel Finance, a cryptocurrency loan firm, is trying to develop a decentralized stablecoin to help consumers overcome massive debt owing to them as a result of events in 2022. The business’s co-founder has filed a petition for protection with a Singapore court, requesting the court to urge creditors not to sue Babel over the next six months to give the company more time to restructure.

Babel Finance’s reorganization plan includes a plan to pay off debts using the proceeds of a decentralized stablecoin project dubbed “Hope”, according to sources from Bloomberg. Hope will employ BTC and ETH as collateral and anchor the price to USD, similar to the notorious DAI (collateralized with USDC, ETH) or UST method (collateralized with LUNA). The distinction between Hope and Terra’s stablecoin is that the collateral is not established by the same business that generated LUNA-UST. The co-founder has filed a petition for protection with the Singapore court, requesting that the creditor refrain from taking legal action.

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2023-03-06 08:23:02 CZ Smashes Rumors He Was Shot Down By FBI Is Fake News Report

A false news report claiming that Binance CEO Changpeng Zhao (CZ) was “shot” by government authorities circulated on China’s WeChat social media network. CZ responded to the bogus rumors that spread on the Chinese messaging platform WeChat, saying that he was “shot” by The Federal Bureau of Investigation (FBI), even underlining Binance’s good relationship with the FBI.

Despite the fact that one of CZ’s New Year’s objectives was to “ignore FUD, fake news, attacks, and so on,” he’s had a terrible start to 2023. In response to another Twitter user, CZ cracked a joke about anyone who bought the bogus article and sold their cryptocurrencies as a result. “Changpeng Zhao was shot dead by the FBI,” the user circled in a screenshot. Binance.US has hired former FBI agent BJ Kang to lead an investigative team aiming at combatting illicit activities on the platform, Coincu previously reported in October 2022. BJ Kang leaves the FBI for the cryptocurrency exchange after more than two decades with the agency.

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2023-03-05 07:39:02 ConsenSys Set The Date Ready For zkEVM Public Testnet On March 28

The race for zero-knowledge Ethereum Virtual Machine (zkEVM) is more intense than ever as ConsenSys announced the deployment of a public testnet for the technology. Polygon will also launch its zkEVM mainnet beta. Scroll and Matter Labs have also announced that they will launch ZK rollups, but no dates have yet been set.

Zero-knowledge (ZK) technology is a form of technology that employs encryption to assist in boosting transaction speed and lower gas fees on blockchains. ZkEVMs are a sort of scaling mechanism, also known as a ZK roll-up, that tries to process transactions more quickly on a Layer 2 chain atop the main blockchain before sending the data back to Layer 1. Several organizations are scrambling to bring innovation to the Ethereum ecosystem, which is expected to be one of the year’s biggest blockchain developments, according to industry analysts. Coincu also has an article on this topic.

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2023-03-04 07:38:02 FTX stakeholder report shows 'massive shortfall' of assets

FTX said $2.2 billion of digital assets have been located in accounts associated with FTX.com, of which only $694 million are high-quality “liquid assets.”. It is not possible to calculate or predict customer recoveries based on the presentation, a report from the company said.

Using spot prices as of March 1, more than $2.2 billion in total crypto assets have been located in wallets associated with FTX.com. Of this amount, only $694 million of these funds are liquid “Category A Assets,” which include fiat, stablecoins, bitcoin and ether. Other assets include $385 million of customer receivables, and significant claims against FTX sister company Alameda Research and related parties. The presentation also shows $9.3 billion borrowed by Alameda from the FTX.com wallets and accounts.

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2023-03-04 07:28:02 Aave starts governance discussion to deploy on upcoming Polygon zkEVM mainnet

Aave, a decentralized lending protocol, is considering deploying a minimum viable version (MVP) of Aave version 3 on Polygon's upcoming zkEVM Layer 2 network. The proposal from Aave's integrations lead Marc Zeller is aimed at establishing a strategic Aave presence on the new network early on.

The proposal says it also aims to lay the groundwork for possibly issuing Aave's GHO stablecoin on the zkEVM, if the governance were to consider this option in the future. Polygon's zkEVM will be a zero-knowledge or ZK-rollup that performs off-chain computations on a secondary layer for faster and cheaper transactions while prioritizing security. The aim is to further expand the Ethereum network's scaling capabilities. as well as USDC stablecoin. It also recommends including only one borrowable asset, the USDC stablecoin.

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2023-03-03 08:49:02 XMON Price Dropped By Over 90% After The Lock-up Period Expired

Because of heavy selling pressure, the price of XMON plunged by more than 90% in the last 24 hours, just after the lock-up period expired. Because of its exceptionally successful liquidity generation solution for a difficult-to-trade asset like NFT, this project has gotten a lot of interest from both the NFT investment community.

XMON token price is under severe selling pressure. SudoSwap, an AMM platform for NFT that has lately attracted a lot of attention, has revealed the timeline for the SUDO token airdrop to users in September 2022. SudoAMM, Sudoswap’s NFT swap protocol, will use SUDO as its governance token. Because of its exceptionally successful liquidity generation solution for a difficult-to-trade asset like NFT, this project has gotten a lot of interest from both the NFT investment community and traditional AMM initiatives like Uniswap.

Source

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2023-03-02 07:01:02 Bitcoin Core Developer Stopping NFT Auction For 0.41 BTC Using His Code

Luke Dashjr, a developer of the Bitcoin core, has criticized the people behind an NFT auction for utilizing his name and code without his permission or knowledge. The buyer of the Luke Dashjr NFT has the option of receiving a full refund from Scare City marketplace or having the money donated to OpenSats.

The Bitcoin core engineer said that he wasn’t the first to have his name or his work utilized in this manner. Dashjr further disclosed that when the auction’s winner ultimately got in touch with him, he had to let them know he had nothing to do with the transaction. He went on to say that the NFT founders had provided him with an offer of 90% of the profits, which he described as an obvious effort to bribe him into quiet or win his approval. The developer, however, declined the proposal and demanded that the authors return the entire purchase price to the NFT customer.

Source

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2023-03-01 08:06:02 Mangrove raises $7.4 million Series A to enable market makers to operate without locked capital

Mangrove raised a $7.4 million Series A round to build out its order book-based decentralized exchange with its "offer-is-code” approach to liquidity provisioning.Cumberland and Greenfield Capital co-led the raise. CMT and Gumi Crypto Capital (gCC) also participated in the fundraising effort.

The startup secured $2.7 million in a seed fundraising round in 2021, which was backed by crypto trading titans including Wintermute Ventures and QCP. Offer-is-code means that liquidity providers are able to post smart contracts as offers, which helps remove the opportunity cost of trading on a decentralized exchange by enabling liquidity providers to only source liquidity when an offer is matched. Traders see benefits because of the lower cost of capital that liquidity providers see on the exchange.

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2023-02-28 08:45:03 Ukraine Received A Huge Donation Via Crypto Within One Year Of The War

Cryptocurrencies have been exploited for nefarious purposes throughout the war, but they have also given Ukraine many reasons to feel empowered. More than $200 million worth of cryptocurrency has been moved to what is known as pro-Ukraine causes.

Geopolitical concerns and cryptocurrency’s influence on them don’t always make for happy reading. For instance, the US worries that digital assets may give those subject to sanctions a new way to avoid the banking system. Private cryptocurrency fundraising for pro-Ukrainian initiatives has surpassed Russian counterparts in the past year by a ratio of 44 to 1, according to data from blockchain data analytics company Elliptic. The employment of crypto in international politics is, however, far more subtle and complex.

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