Crypto News Source

2023-09-21 08:50:31 Coinbase Pay added to Aptos Labs crypto wallet

Aptos Labs has integrated its Petra crypto wallet with Coinbase Pay in an effort to streamline functionality and boost use. In the hopes of reducing friction when onboarding new users, Aptos Labs has added a Coinbase Pay integration to the mobile and desktop versions of its crypto wallet called Petra, the companies announced in a statement. "With Coinbase Pay, Coinbase users can add APT to Petra seamlessly through their choice of bank, debit card, credit card, and even their Coinbase account balance," Aptos said in the statement.

The announced integration follows a flurry of similar announcements where companies are aiming to improve the onboarding of new customers by improving or adding to functionality, in some cases by partnering with traditional tech companies. Last month, Aptos said it is working with Microsoft to explore "innovative solutions" related to asset tokenization and digital payments. Coinbase has been working with payments giant PayPal since at least 2021. With the partnership Aptos, which was founded by former Meta employees, hopes to have a more direct line to Coinbase's millions of users.

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2023-09-19 14:26:51 World App Surpasses 500K Transactions in 24 Hours!

The developers behind the Worldcoin project have recently unveiled a major update that promises to transform the World App wallet, making it more scalable and cost-effective than ever before. The update incorporates a series of cutting-edge technologies, with a primary focus on enhancing efficiency and reducing transaction expenses. Among the notable features included in this update are mixing and compression techniques designed to eliminate the majority of L1 Gas fees.

Moreover, the update also addresses the issue of network congestion and slow transaction processing by reducing the optimism load by two-thirds. This optimization not only accelerates transaction confirmations but also enhances the overall reliability of the World App wallet. Since the release of this game-changing update, World App has experienced an unprecedented surge in activity. The single-day transaction volume on the platform has soared to staggering heights, exceeding 500,000 transactions in a 24-hour period. This remarkable achievement underscores the profound impact of the recent update and the growing popularity of Worldcoin and its associated technologies.

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2023-09-18 23:30:05 DWF Labs Co-Founder Andrei Grachev Elevates friends.tech

Co-founder of DWF Labs, Andrei Grachev, took to Twitter to announce his groundbreaking partnership with friends.tech. His tweet, laden with anticipation, read, “Exciting times ahead! Just signed up to friends_tech. Whose Key should I buy?” This revelation sent shockwaves through the crypto community, igniting a frenzy around the Key token. As the news broke, the Key token’s price soared to an astonishing 1.26 ETH, marking a significant milestone in its value.

Grachev’s decision to join forces with friends.tech, a platform known for its innovative approach to blockchain technology, underscores the growing influence of the crypto community. With his wealth of experience in DWF Labs, he brings a new wave of excitement and possibility to the crypto landscape. The tweet also triggered a lively debate among crypto enthusiasts about which Key tokens Grachev might be eyeing. Some speculate he may have insider knowledge, while others believe his involvement alone is a ringing endorsement of the token’s potential. Friends.tech, an emerging player in the crypto industry, has been gaining traction for its unique approach to decentralized finance and blockchain technology. Grachev’s entry into their ecosystem adds significant credibility and raises expectations for what’s to come.

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2023-09-17 18:39:52 dYdX Founder: The DEX Will Lead The Next 100x Growth Of DeFi Derivatives

dYdX, a prominent player in the cryptocurrency derivatives market, is poised for a transformational journey aimed at bolstering token performance and ecosystem vitality. Antonio expressed his firm belief that the DEX is primed to lead a 100x surge in DeFi derivatives, with a steadfast commitment to stay focused solely on this sector, forgoing diversification into other products. Currently representing just 2% of cryptocurrency derivatives trading volume.

The launch of the dYdX Chain marks the inception of this transformative journey, with Antonio pledging substantial 10x improvements to its product offerings by 2024. These enhancements are poised to secure a robust product-market fit, paving the way for exponential expansion. Founded in 2018, the DEX has carved a niche as one of the crypto market’s largest derivatives exchanges, consistently favored by users. Despite their popularity, its tokens have traditionally been deemed less suitable for long-term holding. However, this perception is expected to shift with the forthcoming v4 update. September 4 as the community overwhelmingly supported a proposal initiated by Wintermute on the Snapshot platform.

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2023-09-16 22:39:31 Convex Finance Community Votes On FXS Protocol Fee Adjustment To 20% Proposal

The Convex Finance community has initiated a critical proposal for the adjustment of the FXS Protocol fee structure, with voting now underway. This proposal seeks to increase the treasury fee from the existing 17% to a new rate of 20%. Voting commenced on September 15 and will conclude at 11:05 on September 19, 2023. As of the current status of the vote, an overwhelming majority, exceeding 99%, supports the proposed adjustment to the fee structure. This strong consensus reflects the community’s dedication to optimizing the FXS Protocol’s financial sustainability and functionality.

Reduction in vlCVX Share: The proposal suggests decreasing the vlCVX share from 7% to 5%, reflecting a strategic reallocation of resources within the Convex Finance ecosystem. Introduction of Treasury Fee based on veFXS Income: Another notable aspect of the proposal involves the addition of a 5% fee to the treasury, linked to veFXS fee income. This innovative approach ensures that the treasury continues to receive contributions based on its overall performance and income generation. The FXS Protocol plays a pivotal role in the broader Convex Finance ecosystem, facilitating stablecoin stability and maintaining the integrity of the DeFi landscape. These proposed adjustments to the fee structure and resource allocation are crucial steps in ensuring the long-term sustainability and growth of the protocol.

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2023-09-15 09:06:09 Vitalik Buterin Urges Caution Amid Uncertain Future of Hong Kong’s Crypto Support

Vitalik Buterin, co-founder of Ethereum, delivered crucial insights during a recent event in Singapore, shedding light on the evolving landscape of cryptocurrencies in Hong Kong. Vitalik Buterin emphasized the importance of understanding the stability of the Hong Kong government’s stance on cryptocurrencies for crypto projects seeking opportunities in the region. He noted that the government’s ongoing support for digital currencies is a pivotal variable that could significantly impact the success and sustainability of crypto-related endeavors in Hong Kong.

Hong Kong has long been considered a global financial hub, attracting a multitude of blockchain and cryptocurrency projects due to its favorable regulatory framework and strategic location. However, recent geopolitical and regulatory developments have cast a shadow of uncertainty over the future of cryptocurrencies in the region. Vitalik Buterin’s remarks come at a time when businesses operating in the cryptocurrency space are closely monitoring Hong Kong’s evolving regulatory landscape. The crypto industry values stability and regulatory clarity, making it crucial for enterprises to assess the long-term viability of conducting business in the city. Buterin’s insights carry considerable weight within the cryptocurrency community. His cautionary advice serves as a reminder that while Hong Kong has been a crypto-friendly destination.

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2023-09-13 16:52:52 Binance Futures Returns To Normal Operation After Technical Problem

Binance, a leading cryptocurrency exchange, recently grappled with a technical problem that temporarily disrupted its futures trading services. In an official statement, the exchange acknowledged the issue and informed users that USDT leveraged futures transactions were temporarily unavailable due to a technical glitch. Binance CEO Changpeng Zhao, popularly known as CZ, confirmed the technical problem and assured users that their team was actively working to rectify the situation.

In a positive development, the exchange also revealed plans to introduce copy trading on its web platform. This feature will enable users to automatically follow the real-time contract trading strategies of leading traders, enhancing accessibility and convenience for traders on the platform. Trading enthusiasts and professionals can look forward to an interesting and rewarding trading environment with the introduction of copy trading by Binance Futures. It’s crucial to remember that, depending on where you live, some things might not be as readily available. It is therefore advisable to rely on official sources for reliable and current information about the accessibility of products.

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2023-09-12 22:44:13 Former Algorand CEO Steve Kokinos To Lead Acquisition Of Celsius Business

Steve Kokinos, former CEO of Algorand, is claimed to have served as CEO of the company that would take over the Celsius business. In a recent development, court documents filed on Friday have unveiled that former Algorand CEO Steve Kokinos will assume the role of CEO for the company set to take over Celsius’ operations. Celsius had previously filed for bankruptcy, and creditors are currently in the process of voting on whether to approve the sale of Celsius to Fahrenheit Holdings.

The critical decision regarding the sale plan must be reached by creditors before September 22, and Steve Kokinos holds a significant stake in Fahrenheit Holdings, making him a key player in the potential acquisition. The new company’s board of directors is set to feature executives with diverse backgrounds, including individuals from WeWork, Lehman Brothers, and notable figures from the Bitcoin mining sector. Furthermore, two members from Celsius’ committee of creditors will also join the board, ensuring a comprehensive representation of interests. The involvement of Steve Kokinos, an experienced leader in the blockchain and cryptocurrency space, signals potential positive developments for Celsius’ future.

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2023-09-11 15:41:49 USDC Supply Plummets by $200M, Leaving Markets In Awe

Circle has executed a strategic move that has reduced the circulation of its USDC stablecoin by a substantial $200 million. This move reflects Circle’s commitment to maintaining the stability and integrity of USDC, a widely-used digital dollar. In the past seven days alone, Circle issued a total of 900 million USDC tokens and subsequently bought back a staggering 1.1 billion Circle. This repurchase initiative, aimed at reducing the circulating supply, has garnered attention in the cryptocurrency market.

As of September 7th, the total circulation of Circle stands at $25.9 billion. Impressively, Circle maintains substantial reserves totaling $26 billion to back the value of USDC. These reserves consist of $1.7 billion in cash and a substantial $24.3 billion held within the Circle Reserve. Circle’s strategic buyback not only reduces the supply of Circle but also enhances its backing with significant reserves, reinforcing the stability and trustworthiness of the stablecoin. It’s important to note that the backing of Circle with reserves is a crucial aspect of its appeal, as it ensures that each Circle token is fully redeemable for its face value in US dollars.

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