CoinQuest

2023-12-30 12:52:49 ​Iron Bank tells Alpha Homora to 'take ownership' of its bad debt

DeFi lending platform Iron Bank has urged Alpha Homora to “take ownership” of its bad debt amid a tussle between the two liquidity platforms.

Iron Bank paused Alpha Homora’s lending account on March 1. Iron Bank is a DeFi protocol that provides liquidity to other DeFi lending platforms, including Alpha Homora. The pause came in response to Alpha Homora’s $30 million bad debt that arose after a malicious exploit in February 2021.

Iron Bank said that it had repeatedly asked Alpha Homora to provide a solution to rebalance its bad debt, but to no avail. “They continue to seek private calls rather than transparently provide a written solution,” Iron Bank said on Friday. The DeFi lending platform said written solutions provide full transparency for all parties involved.

Alpha Homora previously said that it was communicating with Iron Bank on possible solutions. AlphaVentureDAO CEO Tascha Punyaneramitdee issued an open letter on Thursday detailing previous agreements between Alpha Homora and Iron Bank. AlphaVentureDAO is the DAO behind the Alpha Homora protocol. These agreements included locking up 50 million ALPHA tokens as collateral and using 20% of Alpha Homora’s protocol fees to service the debt. Open / Comment

2023-12-17 12:32:03 ​Digital Euro Key for European Payment Autonomy, ECB President Lagarde Says

The digital euro has an important role in preserving the payment autonomy of Europe, the head of the eurozone’s monetary authority emphasized. The new currency, which is still under development, is meant to be sovereign and safe, cheap and widely available, Christine Lagarde assured during a discussion devoted to central bank digital currencies.

A digital euro has a key role to play in safeguarding Europe’s payment autonomy, President of European Central Bank (ECB) Christine Lagarde was quoted as saying during a virtual panel devoted to central bank digital currencies (CBDCs), which was hosted by the Bank for International Settlements (BIS). Open / Comment

2023-12-11 14:12:11 ​Celsius lawyer says Earn account customers entitled to a 'significant return'

Celsius Earn account customers will be “entitled to a significant return,” a representative for crypto lending firm Celsius told a bankruptcy court on Tuesday.

“The Earn customers we think are going to be treated equally and will be entitled to a significant return of value here,” the representative said, while also respecting the rights of the different categories of customers.

The vast majority of Celsius’ customers are in the Earn program and the vast majority of the value of the assets is going to go to customers of that program, the representative said on Tuesday.

The debtor's obligation is to "propound a plan" to return value to the "right people in the right form," the representative said. "And that's what we're doing and we're in the later stages of being ready to do that."

Company representatives at the hearing also spoke about a recovery corporation concept, a proposal for the company to tokenize and distribute to account holders an “asset share token that would reflect the value of the assets managed by the Recovery Corporation.” That token would also entitle holders to dividends from the recovery corporation over time, they said.

If approved, the tokens would be provided to all account holders who have account balances over a certain threshold. The recovery corporation would also be a public company, and file public financial reports, such as 10-ks, in the future. Open / Comment

2023-12-07 11:02:09 There's a fantastic offer from a Swiss crypto project:

- No conditions!
- No need to buy any tokens!

You can earn a clean 10% on your deposit!

It's a real freebie – come in and give it a try before it closes!

Join Anna Hodler and read the details in the pinned message! Open / Comment

2023-12-05 20:04:05 Will Bitcoin Price Go Up or Down?
Join the ‘Bit-UpDown’ Game to Win 600 USDT Prize Pool!

Make a guess if Bitcoin price will rise or fall every 5 min!

Play for free now, and grab this lucky chance to win!

What is ‘Bit-UpDown’?
- Exciting betting game for crypto lovers
- Anyone who likes Bitcoin can participate
- Free to enter, free to play

Winner’s prizes
- 1st: 300 USDT
- 2nd: 200 USDT
- 3rd: 100 USDT

How to play
- Enter https://abit.ly/q7ljak
- Check the pinned messages for rules

Share with your friends to play together! Open / Comment

2023-11-29 17:03:43 ​​Goblin Sax DAO to offer instant NFT-backed loans

Goblin Sax, a decentralized autonomous organization for NFT finance, is launching an instant loans service. It acquired instant loans app Fluid, which it will rebrand as Goblin Lend, to build out the product alongside its already existing peer-to-peer NFT lending service.

Formerly known as Gringotts DAO, Goblin Sax is one of several NFT loan platforms that have popped up over the last year that targets NFT holders looking to unlock liquidity without selling their nonfungible tokens.

Among them, South African company NFTfi raised a $5 million seed round late last year. In November, it issued a loan for $1.4 million over 30 days at 9.69% APR. The collateral was a rare NFT from the generative art collation Autoglyphs.

Goblin Sax was originally a lender on NFTfi but has been looking for ways to evolve.

"The instant loans app will enable users to click a few buttons and take a loan instantly", the DAO's head of integrations, who goes by "Arentweall," told The Block. They explained that "the base layer is using NFTfi, but I think the user experience is very different from the one on NFTfi, where you first put out your NFT and then wait for someone to offer you a loan." Open / Comment

2023-11-27 11:03:26 ​Genesis owes Gemini customers $900 million

Cryptocurrency broker Genesis owes $900 million to customers of Gemini, the cryptocurrency exchange run by Tyler and Cameron Winklevoss.

According to a Financial Times report, parent company Digital Currency Group (DCG), along with Genesis, owed the amount to the exchange's customers.

Gemini is trying to recover the funds, according to people familiar with the matter mentioned in the report, which added that the exchange is also forming a creditors committee to try to recover the assets.

Genesis is one of the partners of Gemini's Earn program, where users can lend their cryptocurrency for refunds. After Genesis temporarily suspended withdrawals earlier this month, citing market conditions, the cryptocurrency exchange suspended redemptions under the program. According to a report released last week, it has since worked with DCG and Genesis to facilitate redemptions from the program.

The Financial Times report also notes that Genesis is continuing its attempts to raise funds, for which it has hired investment banking boutique Moelis & Co. Open / Comment

2023-11-24 16:29:02 ​​200 U.S. officials moved to cryptocurrency

Several members of the U.S. Congress sent a collective letter to the SEC, the Fed, and the Treasury Department. In it, they expressed concern about former U.S. officials moving en masse into the cryptocurrency segment.

In the letter, the authors also provide specific examples. About 200 former officials have moved into the cryptocurrency segment over time. They took positions as executives, lobbyists and consultants.

According to Elizabeth Warren, one of those who signed the appeal, this creates a dangerous situation. In her commentary, she compared what is happening to the way Wall Street has influenced the legal field in the past for its own benefit. Open / Comment

2023-11-20 15:00:07 TG.Casino: The World's No 1 Telegram Casino

Experience anonymous online crypto gambling at its finest, with a fully licensed and 100% safe platform.

Why TG.Casino Presale?

$TGC Token: $TGC is on presale now with immediate staking rewards. Play with $TGC in the casino with 25% cashback on net losses or benefit from the casino's growth as a % of its profits support the token price, even if you don't play.

Staking: When you enter the $TGC presale you can immediately stake your tokens and earn rewards of up to 450% APY.

High Roller Rewards: Invest $5k+ and you will receive an exclusive High Roller NFT that gives you amazing post launch rewards.

Token Buybacks: When launched TG.Casino will use a % of daily profits to buy back tokens and burn 40% of them while the other 60% will be used as an additional staking reward.

The casino world is evolving, and TG.Casino is at the forefront. Open / Comment

2023-11-15 14:27:18 Join Waterfall Protocol for the testnet launch and earn validator benefits

Waterfall is the most decentralized BlockDAG protocol currently available

Read about Waterfall achievements (pre-A funding raise):
https://www.binance.com/en/feed/post/2023-11-01-waterfall-network-raises-2-million-in-pre-a-funding-led-by-bytetrade-lab-1590856

Key Features:

This decentralized platform has the potential to attract much more validators than other protocols.
Minimal hardware requirements: Dual-Core CPU, 4GB RAM ( your cellphone has 2-4 times more than that).
High performance and scalability, thanks to parallelism in BlockDAG.
Compatible with EVM and Ethereum API.

They have been rigorously testing technology since 2021.

Be among the first validators

Join their communities for this exciting journey:
https://t.me/waterfall_network
https://twitter.com/waterfall_dag
https://discord.gg/FM73yKsz Open / Comment