Crypto | Bitcoin | Blockchain

2023-02-01 07:55:01 Cardano's decentralized stablecoin Djed goes live on mainnet

Djed, a decentralized stablecoin designed to track the U.S. dollar, launched on the Cardano blockchain after being in development for over a year. Djed was developed by blockchain firm Coti in collaboration with Cardano's core developer Input Output.

Djed aims to be used on DeFi protocols in the Cardano ecosystem as a stable alternative to volatile cryptocurrencies. Each stablecoin will be over-collateralized by 400-800% with Cardano’s native asset ADA — while using SHEN as a reserve coin. This over-collateralization makes it similar to the dai stablecoin in the Ethereum ecosystem, but it has a minting and burning mechanism like other algorithmic stablecoins.

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2023-01-31 08:43:02 Binance Disables Several Accounts Due To The Bitzlato Case: ‘Funds are safe’

According to many users, cryptocurrency exchange Binance has been covertly closing down a number of accounts on the platform in connection with the Bitzlato probe. Bitzlato was a little-known cryptocurrency trading platform that let users trade digital currency.

Several Russian-speaking Binance customers complained about restricted accounts and being unable to withdraw money from the exchange on January 18. The affected individuals complained about the problems in a Telegram group conversation, claiming that the accounts had been shut off abruptly. Many chat members have openly admitted that they used Bitzlato, including incoming and outgoing transactions between Bitzlato and Binance accounts. Binance is one among the counterparties of Bitzlato that the US Financial Crimes.

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2023-01-30 08:53:02 Polygon (MATIC) Ancient Whale Drops His Holdings

In the midst of the asset’s meteoric climb on the market, a pioneering MATIC whale takes an unexpected move by selling millions of tokens. The whale accepts Polygon’s token in return for some DAI. When the token was trading for $0.02, the whale’s wallet saw its first MATIC transaction.

According to on-chain information provided by Lookonchain, the early holder exchanged 4.5 million tokens for 5.2 million DAI at an average cost of $1.14. Given that the addresses received a portion of those monies at an average cost of $0.02, the profit was extremely high. In comparison to the end of 2022, the token’s performance has improved significantly in the new year. Even without the overall market rally, MATIC started moving upward before giants like Bitcoin or Ethereum.

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2023-01-29 07:33:02 Argo Blockchain Accused Of Defrauding Investors During IPO In 2021

On January 26, a brand-new lawsuit was launched against the cryptocurrency mining company Argo Blockchain and a number of its executives and board members. The company raised roughly $105 million during its IPO by selling about 7.5 million shares at a price of $15 each.

Investors in Argo have launched a class-action complaint, alleging that the miner misled them and omitted important details during its 2021 initial public offering (IPO). According to the complaint, the company omitted information about its vulnerability to cash limits, power prices, and network issues. A few days after Argo Blockchain resumed compliance with the Nasdaq listing requirement, which requires a business to maintain a minimum closing bid price of $1 for 10 consecutive trading days, on January 23, the company filed a recent complaint.

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2023-01-28 06:37:02 DeFi Lender Aave Launches On Ethereum Network Version 3

Aave, a decentralized lending and borrowing system, has launched its third iteration on the Ethereum network in response to unanimity in favor of a governance proposal. Aave protocol has $4.56 billion in total value locked (TVL), a rise of 23.37% over the previous 30 days.

The Aave V3 upgrade will put a special emphasis on reducing user risk and enhancing capital efficiency (High Efficiency Mode) when staking or borrowing correlated assets like stablecoins and liquid staking derivates (LSDs). Liquid staking derivatives are contracts for derivative products that let consumers keep an asset’s liquidity while staking it in exchange for a payout. According to DeFiLlama, the Aave protocol has $4.56 billion in total value locked (TVL), a rise of 23.37% over the previous 30 days.

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2023-01-27 07:21:02 Data analytics firm Arkham Intelligence adding support for Polygon in Q1

Arkham Intelligence announced it is adding support for Polygon, giving users the ability to track, monitor and identify wallets on its chain. Arkham said it chose Polygon for its second integration because of its partnerships with Disney, Starbucks and Stripe, as well as its large user base.

Support for additional blockchains is important for data analytics platforms to expand their appeal to wider audience. On-chain activity continues to expand to multiple blockchains and Polygon is of the largest Layer 1 blockchains by Total Value Locked, according to DeFiLlama. Arkham plans to add support for other blockchains in the future and said having multiple chains integrated on its platform “opens new possibilities for on-chain research.”

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2023-01-26 07:55:03 Celsius Can Undergo Changes And Launch New Tokens

According to a report from Bloomberg on January 24, bankrupt bitcoin lender Celsius may soon restructure and issue a cryptocurrency token to pay users. Some creditors are urging Celsius to follow Bitfinex’s example and create the UNUS SED LEO coin.

According to Kwasteniet, Cel is also preparing to launch a brand-new cryptocurrency token as payment to the business’s creditors. Ross M. Kwasteniet, an attorney for Celsius, said at a court proceeding that the business might be restructured into a publicly traded company with the right licensing. Given the present unfavorable crypto market conditions, such strategy might be a better option for creditors than selling the company’s crypto assets. In order to give users compensation, Bitfinex promised to buy back the token.

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2023-01-25 07:35:02 Algorand Foundation poaches WhatsApp exec to lead marketing efforts

The Algorand Foundation hired former WhatsApp and Nike exec Jessica Tsai Chin to steer its marketing efforts. Crypto companies have also previously been criticized by advertising watchdogs and regulators alike for their marketing.

"Many web2 companies are having a difficult time embracing the concept of decentralization and data ownership, but there’s a huge opportunity to move in this direction," she said "I believe data privacy needs to be built-in by design and on by default." As part of this change, she sees opportunities in featuring underrepresented voices to drive conversations around inclusion and representation, which she believes has not been widely covered yet in the web3 space. CryptoSlam, but has petered out in recent weeks following the event.

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2023-01-24 07:57:02 Axie Infinity Soars 22% Amid AXS Token Unlock

The price of Axie Infinity (AXS) is up a whopping 21% over the last 24 hours, currently trading at $12.35, further contributing to its 80% rally that started two weeks ago, per data from CoinGecko. The circulating supply of AXS, the governance token behind the NFT collectible game.

While Axie Infinity players use the Smooth Love Potion (SLP) token to facilitate in-game functions, holding AXS lets players vote on the game's development and how to deploy the project's treasury. Unlocks of vested tokens generally result in bearish pressure, as they dilute the circulating supply and often instigate increased selling pressure. AXS currently has a market capitalization of $1.47 billion and a fully diluted value of $3.46 billion, per CoinGecko. it appears that this selling pressure could be underway.

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2023-01-23 07:10:01 Crypto Banks Borrowed Over $13 Billions To Resist The Effects Of A Surge In Withdrawals

According to an article in The Wall Street Journal, the Federal Home Loan Banks System (FHLB) of the United States is financing billions of dollars to two of the biggest crypto banks in an effort to lessen the impact of a spike in withdrawals. Silvergate, which requested at least $3.6 billion from the FHLB.

According to securities filings, Signature Bank borrowed about $10 billion from its neighborhood home loan bank in the fourth quarter, making it one of the highest such borrowings by any bank since early 2020. The New York Department of Financial Services gave Signature permission to use blockchain technology for its digital platform in 2018. The system, which was started during the Great Depression to promote home finance, now has over 6,500 members and $1.1 trillion in assets.

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