Crypto Futures Trading

2023-05-03 09:08:02 Coinbase insiders got $1 billion richer by not disclosing negative information, lawsuit claims

Coinbase’s top executives made themselves richer by $1.09 billion by failing to disclose negative information about the company prior to listing its shares in April 2021, according to a lawsuit filed in a Delaware state court. The suit was filed by Adam Grabski, an investor in Coinbase stock, on behalf of all shareholders, on May 1. It names famed investors Marc Andreessen and Fred Wilson as defendants, alongside Coinbase CEO Brian Armstrong and his top management team. It also details exactly how much money they all made selling stock.

The suit discusses in detail the Coinbase board’s confidential plan to go public two years ago, a process which internally was given the nickname “Project Fall Fruits”. At the time, Coinbase chose to do a direct listing of its existing shares, rather than the more common initial public offering (IPO), in which new shares are offered to the public markets. An IPO had two key disadvantages for Coinbase insiders. The main advantage of a direct listing, the suit claims, was that the shares being offered for sale to the public were pre-existing ones already owned by Coinbase executives and investors. Any stock sales would therefore directly benefit the executives and investors .

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2023-05-02 08:48:02 Sui Network’s Mainet To Launch On May 3rd

Sui Network has announced that its mainnet will launch on May 3rd at 12 pm UTC. The announcement came after Sui achieved impressive performance results. The Sui network, with 100 globally distributed validators, recently achieved peak throughput ranging from 10,871 TPS to 297,000 TPS on various workloads. To achieve high-fidelity and realistic performance results, Sui’s performance characterization was conducted using a globally-distributed setup that mirrored Mainnet.

One of Sui’s most powerful core developer primitives is Programmable Transaction Blocks (PTB), which allows developers to customize their applications by constructing increasingly sophisticated PTBs. As Sui’s programmability was highly expressive even before PTB, a single execution can perform up to 1024 heterogeneous operations, each of which would otherwise be an individual transaction on most other blockchains. Sui’s time to finality is approximately 480 milliseconds, a promising result for the protocol’s future. The time to finality measures the point in the transaction lifecycle where both the transaction itself as well as the effects of the transaction are final and can be used in subsequent transactions.

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2023-05-01 20:02:49 #BTC The price has broken the support at $29k. If the price does not return back quickly, the decline may continue.

The overall trend is still quite bullish, and the downward movement is a local corrective motion. Furthermore, to maintain the upward trajectory during the decline, there is still enough room for a downward movement.

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2023-05-01 07:30:15 Netflix Star Driving Bitcoin Adoption With Porsche Flying El Salvador Flag

Scottish-Salvadoran driver Sebastian Melrose has made his debut in the Porsche Carrera Cup racing championship. The 25-year-old, who took part in a popular Netflix TV series last year, drives a Bitcoin-branded 911 that features the flag of crypto-friendly El Salvador on its rooftop. The tandem hired a newcomer to the series, Scottish-Salvadoran driver Sebastian Melrose, who debuted last weekend at the Donington Park circuit.

Melrose, who owes a great deal of his fame to his participation in the “Too Hot to Handle” dating game show on Netflix, sat behind the wheel of a “Bitcoin Porsche,” a 500-horsepower 911 GT3 that is sporting the bitcoin logo on its door panels, and on its roof, the flag of El Salvador, the Latin American nation spearheading crypto adoption as legal tender in the world. The championship consists of eight race weekends across the United Kingdom and is aired live on ITV. “With a TV audience of 2.2 million and over 400,000 live spectators per season, we’re taking the message of bitcoin to millions outside of the sector,” Bitcoin Racing stated.

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2023-04-30 15:01:05 #BTC Look, the price is currently above the descending trendline, which means that the primary priority now is upward. However, I don't see sufficient volumes and activity, so first and foremost, I'll keep in mind that the narrow flat range will continue (thin dotted zigzag).

If volumes appear in the current area above $29k, then the priority will remain upward, even locally, and it is worth continuing to expect growth.

If the price goes down below $29k and we see absorption of this level, then we can expect a local downward movement, but it will still be a correction, as I mentioned in the previous post.

Any retest of the lower supports down to $27k ($26900) is a bullish retest. Absorption of this level can lead to a decline to either $25k or $20k, so I will probably be adjusting my orders accordingly.

Regarding long positions, my targets are at the minimum of $31k, followed by $32k and $33k. It will be difficult to break through this price zone.

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2023-04-30 07:14:02 Ripple Sold $336M Worth of XRP Tokens in Q1, Reports Strong XRPL Growth

Blockchain company Ripple sold more than $361 million worth of XRP tokens in the first three months of the year, up from $226.31 million in the previous quarter, it said in its latest XRP Markets Report. The company builds global payment products and has developed the XRP payment system, which it describes as decentralized. While Ripple and XRP are separate entities, Ripple uses XRP and XRP's public blockchain to power its products.

The sales were in connection with Ripple’s on-demand liquidity product, which helps customers to move money around the world without the need for correspondent banking relationships. XRP Ledger on-chain activity remained strong, with decentralized exchange volume increasing 34% from the fourth quarter to $115 million.The firm has continued to sell XRP only in connection with its international transaction product. Ripple said it has sourced XRP from the open market to ensure there is sufficient supply available for the growing on-demand liquidity business. The total sales by Ripple, net of purchases, ended the quarter at 0.44% of global XRP volume.

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2023-04-29 06:27:02 70% Of The PancakeSwap Community Is In Favor Of Reducing The Stakes

The community that governs PancakeSwap, a major decentralized trading venue that runs atop Binance’s BNB Chain, is considering a proposal to reduce staking rewards by slashing CAKE block emissions. A community vote to reduce CAKE block rewards emitted by the decentralized-finance protocol PancakeSwap is nearing completion, with nearly 70% of votes of the decentralized autonomous organization, or DAO, in favor of an “aggressive reduction.” The vote will end at 15:30 UTC on Friday.

CAKE emissions on PancakeSwap’s main liquidity pool would drop by 94% once the proposal is voted in. Core developers published a proposal to this effect, and voting kicked off earlier this week, although members of the protocols DAO started debating the proposal in early April. The proposal aims to cut down CAKE’s interest to around 3-5%. The current rate above 20% was deemed “unsustainable” by some community members. The team behind PancakeSwap carefully considered the dialogue surrounding the unsustainable inflation rate of CAKE that required the token to see higher adoption and capital inflow for stakers to earn higher yields. A proposal to aggressively reduce inflation and transform CAKE’s tokenomics to generate higher real yield.

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2023-04-28 07:16:02 Dymension and Evmos are testing an EVM rollup for the Cosmos ecosystem

Dymension, a blockchain development firm, announced it is working on an EVM-compatible Layer 2 rollup scaling solution that will integrate with Cosmos, an ecosystem of many Layer 1 blockchains. While Cosmos generally lacks Layer 2 solutions, they are slowly emerging. Dymension's Layer 2 rollup will be compatible with the Ethereum Virtual Machine (EVM), a computing environment used by Ethereum. The rollup aims to enable developers to write and deploy Ethereum applications.

Dymension's rollup will be launched as a Layer 2 solution on Evmos, a blockchain within the Cosmos ecosystem, according to an announcement. The company cites close collaboration with the Evmos core team and a data availability protocol called Celestia. Adopting a modular approach, Dymension's team plans to create multiple EVM-compatible rollups using a common software development kit, enabling them to operate on top of various Cosmos chains and communicate with those chains. This is made possible by the IBC-enabled nature of Dymension's rollups, allowing for native connections with the entire Cosmos ecosystem of IBC blockchains.

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2023-04-27 07:08:02 zkSync DEX Merlin Hacked, $1.82 Million In Stolen Funds

zkSync, a Layer 2 scaling solution for Ethereum, has experienced a significant setback as its DEX Merlin was hacked. The hacker has stolen over $1.82 million in funds, and the LP has been drained. According to Wu, officials had stated the launch of the Core Farming Pools and public sale was delayed until the Audit by Certik was completed to provide reassurance to potential investors. However, shortly after the audit was completed and Merlin began the public sale.

The founder of Certik recently gave an interview with Chinese media, where he expressed pride in Certik’s accomplishments. According to him, Certik has made significant strides in blockchain security and has achieved a 70% share of the crypto security market. Additionally, he claimed that Certik had reduced the cost of Web3 security audits by over 90%. In response to the issue, Certik found that there may be a problem with the management of private keys rather than an exploit being the root cause. However, shortly after the audit was completed and Merlin began the public sale, unfortunate events took place as the sale was stolen by an unknown perpetrator.

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2023-04-26 17:47:43 #BTC There's been a pump from support, and furthermore, the highest descending resistance has also been broken. However, without confirmation yet; some time is needed for that.

Now, any pullbacks are unlikely to result in a new low and are more likely to result in an upward move. At least up to $31k, where we'll need to see the reaction.

I have drawn other key absorptions and retests on the chart.

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