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2023-09-15 09:06:17 Google Cloud Unleashes Explosive DeFi Revolution with Web3 Partnership

DeFi infrastructure provider Orderly Network has announced its partnership with tech giant Google Cloud. The strategic alliance aims to address critical issues within the DeFi (Decentralized Finance) space, specifically focusing on self-governance and transparency. DeFi has experienced significant growth in recent years, offering innovative financial solutions while relying heavily on blockchain technology. However, challenges related to governance and transparency have posed obstacles to the sector’s broader adoption.

Orderly Network is set to leverage GC’s vast resources and technical prowess to develop off-chain components that address these challenges head-on. Off-chain solutions play a pivotal role in enhancing scalability and governance in the DeFi ecosystem. One of the key outcomes of this collaboration will be the availability of Orderly Network’s DeFi infrastructure solutions on the Google Cloud Marketplace. This move is poised to streamline the accessibility of DeFi infrastructure services for developers and businesses seeking to enter the DeFi space. Simon White, CEO of Orderly Network, expressed enthusiasm about the partnership, saying, “Our collaboration with Google Cloud represents a significant step forward in advancing the capabilities of DeFi infrastructure.

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2023-09-13 16:53:00 Qredo Revolutionizes Gas Fees With Release Of CIRCLE USDC Toolkit

Qredo has taken a significant step towards addressing the challenges of gas fees in the blockchain space by integrating Circle’s USDC stablecoin and unveiling the CIRCLE USDC toolkit. The CIRCLE USDC toolkit released by Qredo is a comprehensive solution designed to enhance the usability and efficiency of cryptocurrency transactions. At its core, it leverages Circle’s “cross-chain transfer protocol,” enabling the seamless minting, exchanging, and trading of USDC across multiple blockchain networks.

Qredo has further strengthened the toolkit’s capabilities by collaborating with Etherspot, renowned experts in creating frictionless web3 transactions. This collaboration brings a level of expertise and finesse to the toolkit, ensuring a user-friendly and efficient experience for cryptocurrency users. The integration of Circle’s USDC and the release of the CIRCLE USDC toolkit mark a significant milestone in the ongoing effort to simplify cryptocurrency transactions and make them more accessible to a broader audience. By designating USDC as the gas fee token, Qredo and Circle are tackling a major pain point in the blockchain industry, ultimately contributing to the advancement and adoption of digital assets.

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2023-09-12 22:44:25 Ethereum Plummeted In The Short Term, Falling Below $1,600

Ethereum (ETH) has taken a concerning bearish turn, breaching critical support levels and raising concerns about a potential death cross. With its price falling below $1,600, ETH is currently trading at $1,595, experiencing a daily decline of 1.35%, according to CoinMarketCap data. The crypto community is on edge as Ethereum’s decline continues for the second consecutive month since breaking above the $2,000 mark in mid-July. This bearish sentiment comes despite Grayscale‘s recent victory in its Spot ETF appeal.

Adding to the unease is the specter of an impending $3 billion liquidation. The defunct crypto exchange FTX reportedly holds digital assets worth $3 billion, with Ethereum and Solana making up a significant portion of its holdings. Fears of FTX‘s potential liquidation have prompted traders to sell their assets, contributing to a lack of sustained price action in these cryptocurrencies. Strategic crypto traders are closely watching market sentiment, looking for opportunities to capitalize on the prevailing fear, uncertainty, and doubt (FUD). In these challenging times for the crypto market, investors are keeping a keen eye on Ethereum’s performance and hoping for a reversal in its bearish trend as they navigate the turbulent waters of digital assets.

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2023-09-11 15:42:00 Uzbekistan’s President Legalizes and Taxes Cryptocurrency

The president of Uzbekistan has approved a series of legislative amendments, marking a new chapter in the country’s approach to cryptocurrencies. The legislative changes, as reported by Forklog, span various facets of the cryptocurrency industry, heralding a progressive shift in how Uzbekistan views and regulates digital assets. Notably, these amendments extend to cryptocurrency exchanges, mining pools, cryptocurrency storage services, and mining operations.

The cornerstone of this regulatory framework is the requirement for cryptocurrency-related entities to obtain licenses to operate legally within the country. This proactive measure aims to establish a regulated environment that safeguards both investors and the broader financial system while promoting innovation and economic growth. One of the fundamental aspects of the new regulations is taxation. Once licensed, cryptocurrency entities are obligated to contribute to the country’s tax revenue. This signifies the recognition of cryptocurrencies as legitimate financial assets in Uzbekistan, subject to the same fiscal responsibilities as traditional businesses.

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2023-09-10 11:03:46 Worldcoin's Centralization Dilemma: 100 Wallets Still Dominate 93% of Total Supply

The brainchild of Openai CEO Sam Altman, worldcoin (WLD) burst onto centralized crypto exchanges in late July 2023. The cryptocurrency aims to verify users’ identities by scanning their irises. The project also plans to address financial inequality and online identity authentication through its World ID feature. On its July 24 debut, WLD struck its zenith of $3.30 per token. But since that apex, the price has nosedived. Now fluctuating between $1.20 and $1.38, worldcoin recently plunged to an all-time low of $1.02 per coin on September 5.

From July 24 until August 18, new wallets mushroomed. But in the weeks since then, expansion has decelerated to a crawl, with addresses swelling just over 11% in that period. This slowdown suggests worldcoin’s initial burst of skyrocketing adoption has eased into a steadier, more modest climb. Moreover, while there are close to 600,000 WLD wallets, the top 100 control 93.82% of the entire supply of ​​176.89 million WLD. The 100 addresses commanding most of the supply hold 165.96 million worldcoin tokens. The Worldcoin contract address operated by the development team commands 95.87 million WLD or 54.2% of the supply. Worldcoin also owns the second largest wallet, holding 30.98 million tokens or 17.51%.

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2023-09-08 11:59:12 Ethereum Programming Language Vyper New Version Released v0.3.10

According to the documentation, v0.3.10 is a performance focused release. It adds a codesize optimization mode, adds new vyper-specific #pragma directives, uses Cancun’s MCOPY opcode for some compiler generated code, and generates selector tables which now feature O(1) performance. Previously, a vulnerability analysis report was released for the Vyper compiler, with the vulnerability fixed and tested in version v0.3.10.

Vyper is a newer language for Ethereum development. It was released in 2018; Like Solidity, this is a statically typed language. It is written in the same syntax that the Python programming language uses, which is simpler than Solidity code. This language ensures a high level of security for smart contracts. Because this language has fewer features than Solidity, it makes it less vulnerable to security threats. Overall, this is a valuable tool for developers who want to build decentralized applications and write smart contracts on the Ethereum platform. Its simple syntax, security features, and performance make it an attractive choice for developers looking to create powerful, secure, and efficient smart contracts.

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2023-09-07 15:32:39 Huobi Will Launch PayPal’s PYUSD Stablecoin On Sep 7

Huobi, one of the leading cryptocurrency exchanges, has officially confirmed its plans to list the newly-launched PayPal (PYUSD) stablecoin on its platform, with trading set to commence by September 7. An official announcement will precede the launch of spot trading pairs, which will include PYUSD/USDT, BTC/PYUSD, and ETH/PYUSD. Withdrawals for PYUSD will be enabled starting at 11:00 (UTC) on September 12th. It boasts full backing from U.S. dollar deposits, short-term U.S. Treasury bonds, and similar cash equivalents.

Currently, a total of 26.9 million PYUSD tokens are in circulation, further solidifying its reputation for stability and reliability. The introduction of PYUSD marks a significant development in the Web3 ecosystem, as it represents the first instance of a major fintech giant, PayPal, launching a dollar-backed stablecoin. Huobi’s proactive move to list PYUSD could prove to be a mutually beneficial venture in the long run. This news coincides with Huobi’s ongoing efforts to optimize its offerings. In June 2023, the exchange announced the discontinuation of trading for ten specific pairs, primarily those tied to the USDD stablecoin, issued by the TRON DAO Reserve, which enjoys substantial backing from Justin Sun.

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2023-09-05 14:17:27 The London Stock Exchange Breaks New Ground With Blockchain Digital Market

London Stock Exchange (LSEG) has unveiled its ambitious plan to introduce a digital market powered by blockchain technology, marking the first major exchange to embrace this innovative approach for traditional financial assets, according to the Financial Times. Crucially, Roos clarified that this initiative would not involve cryptocurrency assets. Instead, the LSEG aims to harness the efficiency and transparency benefits of blockchain to enhance the trading and ownership experience for traditional assets.

If successful, the LSEG will pioneer an end-to-end blockchain ecosystem for investors, a milestone in the world of securities exchanges. The exchange is even considering establishing a separate legal entity for this digital market endeavor, with plans to launch the first market within the next year, contingent on regulatory approval. Roos clarified that this digital market venture would not compete with LSEG’s traditional business but rather enhance its commitment to innovation and continue to uphold London’s reputation as a financial hub. LSEG announced its collaboration with Global Futures and Options to offer trading and clearing services for Bitcoin index futures and options derivatives.

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2023-09-04 21:17:21 Ripple Files Opposition to SEC's Motion to Certify Interlocutory Appeal of XRP Ruling

On Friday, Ripple Labs filed its response to the motion by the U.S. Securities and Exchange Commission (SEC) to certify an interlocutory appeal. The securities watchdog is seeking to appeal the ruling by District Judge Analisa Torres regarding the “programmatic” offers and sales of XRP over crypto trading platforms and Ripple’s “other distributions.” The regulator also seeks to stay the district court proceedings. In Friday’s court filing, Ripple argued that “the exceptional circumstances required for interlocutory appeal are absent.”

Firstly, the crypto firm’s lawyers claimed, contrary to the SEC’s assertion, that “the court’s summary judgment order does not present a controlling question of law suitable for interlocutory appeal.” Secondly, they argued that the “supposed substantial ground for disagreement is merely the SEC’s dissatisfaction with the court’s application of Howey to most of the defendants’ transactions in XRP.”. This week, the SEC lost another legal battle against a crypto firm. The United States Court of Appeals for the District of Columbia Circuit ruled in favor of Grayscale Investments against the securities regulator on Tuesday regarding the crypto asset manager’s proposed bitcoin exchange-traded fund (ETF) conversion.

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