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2023-09-10 11:03:33 Binance Executives for Russia and Eastern Europe Leave Top Exchange

Binance’s executives for regions including Russia, other former Soviet republics and Eastern Europe are leaving the world’s largest cryptocurrency exchange. The company has seen a wave of exits of top managers amid a crackdown by regulators in a number of markets. On Wednesday, the crypto firm’s Regional Head of Eastern Europe, the Commonwealth of Independent States (CIS), Turkey, Australia and New Zealand, Gleb Kostarev, took to Facebook and Linkedin to announce that this was his last day at the exchange.

“Kudos to the local teams for all the hard work and amazing campaigns at the local level. And of course, heartfelt thanks to all our partners and Binance users for your support,” said Kostarev who was previously overseeing the Asia-Pacific (APAC) region, too. He gave no specific reasons for quitting after his five years in executive roles at Binance. “Almost two years have passed in the blink of an eye, and as of tomorrow, I no longer work at Binance,” the exchange’s General Manager for Russia and the CIS countries, Vladimir Smerkis, also revealed in a Facebook post published the same day. He promised to share details about his decision and plans for the future after a needed vacation.

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2023-09-08 11:59:03 South Korea’s Neowiz Levels Up With Avalanche In Web3 Gaming Collaboration

Leading South Korean game publisher Neowiz is making waves in the world of blockchain gaming, as it announces its foray into the burgeoning Web3 gaming space through its division, IntellaX. Neowiz, a top-five game company in South Korea by market value, is set to join forces with the Web3 game education project, Avalanche Arcad3. The collaboration between Neowiz and Avalanche Arcad3 will be officially sealed at Avalanche House Seoul 2023, a one-day conference within Korea Blockchain Week.

IntellaX, Neowiz’s Web3 arm, will take center stage for a strategy chat with Ed Chang, Head of Gaming at Ava Labs, the organization behind the blockchain. This strategic alliance comes amid the network’s rising momentum in Asia, particularly in South Korea and the gaming sector. Neowiz becomes the fourth top-100 gaming company by market cap to align with Avalanche, joining East Asian giants like Alibaba, Tencent, and GREE. Avalanche Arcad3, a collaborative Web3 gaming education program, boasts an impressive first cohort, including TSM/Blitz, Shrapnel, Merit Circle, and Neowiz. This initiative offers in-depth content, technical support, networking, and more, positioning Neowiz to make a substantial entry into the exciting world of Web3 gaming.

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2023-09-07 15:30:52 Solana Foundation’s Bold Partnership with HKUST Crypto Lab Ignites Innovation & Gaming Education

The Solana Foundation has recently announced its partnership with the Crypto Fintech Lab of the Hong Kong University of Science and Technology. The collaboration is aimed at extending support to the lab to open Solana game courses and provide financial and technical assistance to students’ innovative projects. The partnership between the Solana Foundation and the Crypto Fintech Lab is expected to offer students the opportunity to learn more about blockchain technology and its potential use cases.

Solana is a high-performance blockchain platform that provides fast transaction processing and low fees. The platform is designed to support decentralized applications and has gained a lot of popularity in recent months. With this partnership, Solana aims to expand its reach and promote its platform to more developers and enthusiasts. The Crypto Fintech Lab at HKUST is an incubation center for blockchain and fintech startups. The lab provides resources and support to startups to develop innovative solutions in the field of blockchain and fintech. With the partnership with Solana, the lab will now be able to offer courses on Solana game development, which will help students learn about decentralized applications and their use cases.

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2023-09-05 14:17:40 dYdX Community Approves dYdX V4 And DYDX Token Migration

In a significant development, the dYdX community has given its stamp of approval to the dYdX V4 adoption and DYDX migration proposal put forth by Wintermute. This pivotal decision signals a major shift in the dYdX ecosystem, promising exciting changes for its users. The key components of this proposal include the adoption of dYdX V4 open-source software as the next version of the dYdX protocol and the selection of DYDX as the Layer 1 (L1) token for the dYdX Chain.

Under this proposal, the dYdX community commits to adopting the Ethereum smart contract, commissioned by the dYdX Foundation, which would facilitate a permissionless and autonomous one-way bridge for migrating DYDX tokens from Ethereum to the dYdX Chain. Furthermore, it’s worth noting that the proposal also emphasizes that wethDYDX, the resulting token from this migration, will maintain the same governance and utility functions as Ethereum-based DYDX (ethDYDX) on dYdX V3, ensuring continuity for users. The approval of these significant changes does not necessitate any smart contract modifications and can be ratified through a Snapshot vote.

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2023-09-04 21:17:29 Study Shows Fastest Growing L2 Blockchains Adopt Users in Weeks, Not Months

A layer two (L2) blockchain runs alongside an existing blockchain like Ethereum to improve transaction speeds and reduce fees. The Ethereum network now has several popular L2 solutions, but they haven’t always seen rapid adoption. Coingecko recently published a report on the subject which highlights the growth of today’s top L2s. Arbitrum, an ETH-based L2, took 303 days to reach one million unique addresses after its mainnet launch on August 31, 2021, according to Coingecko’s contributor Shaun Paul Lee.

Zksync, which launched its mainnet on March 25, 2023, needed 71 days to reach one million addresses. But Base, which launched its mainnet on August 9, 2023, gained over a million addresses in just 11 days. Lee’s research further shows L2s without native tokens onboard users even faster. Both Base and Zksync reached a million users quickly without having launched tokens yet. The study suggests users are hoping for airdrops of governance tokens as rewards for early adoption. The study notes that Base benefited from a wave of popularity around new meme coins launching on the new network. Base is an Ethereum L2 blockchain network developed by the San Francisco-based crypto firm Coinbase.

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2023-09-02 21:56:38 Binance Address Generates 70,000 WBETH Worth $117 Million

Binance address, commencing with 0xa424, has raised eyebrows in the crypto world. Approximately 20 hours ago, this address generated a staggering 69,999.6 Wrapped Bitcoin (WBETH), with an approximate value of $117 million. This substantial WBETH creation has piqued the interest of investors and analysts alike. The movement of such a significant amount of WBETH within a short timeframe has sparked discussions within the crypto community about its potential implications.

The WBETH generated from this address was not simply left idling. Instead, it was promptly transferred to another wallet known as “Binance 14.” The movement of such a significant amount of WBETH within a short timeframe has sparked discussions within the crypto community about its potential implications. The move is part of Binance’s strategic shift to prioritize and expand the use cases for WBETH, a token that represents Bitcoin on the Ethereum blockchain. By doing so, Binance aims to tap into the growing demand for decentralized finance (DeFi) and NFT applications that often require WBETH. This event unfolded against the backdrop of Binance’s recent announcements regarding BETH (Binance Ethereum) and WBETH (Wrapped Bitcoin).

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2023-09-01 21:48:58 Swift And Chainlink Will Break New Ground In Seamless Cross-chain Value Transfer

Swift and Chainlink, two prominent players in the blockchain and cryptocurrency space, have made substantial progress in their recent collaborative experiments. Swift, in collaboration with over a dozen major financial institutions and market infrastructures, joined forces with Chainlink, a leading Web3 services platform. According to a press release on Thursday, these experiments showcased the successful transfer of tokenized value across various public and private blockchains.

The significance of these findings lies in their potential to eliminate considerable barriers that have been impeding the expansion of tokenized asset markets. This breakthrough could ultimately enable these markets to flourish on a global scale as they continue to evolve and mature. Together, they demonstrated their ability to offer a singular access point to multiple networks, all within the framework of existing, secure infrastructure. This breakthrough greatly reduces the operational complexity and investment required for institutions to actively participate in the growth of tokenized assets. Interoperability between these blockchains is crucial, otherwise, financial institutions must build connections to each platform, creating significant operational challenges and costs.

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2023-08-31 06:50:53 $SUI Tokens Worth 35.6 Million Unleashed in 3 Days!

In just three days, the cryptocurrency ecosystem is gearing up for the unlocking of 35.6 million $SUI tokens, a development that holds substantial implications for the market. This unlocking event carries a substantial value of approximately 18.7 million dollars, adding a new layer of interest to the crypto landscape. As the countdown continues, analysts and traders are closely watching how this influx of tokens may impact token prices, trading volumes, and market sentiment.

Such unlocking events are known to trigger both excitement and cautious anticipation within the crypto community. While they offer increased liquidity and potential trading opportunities, they also have the potential to exert pressure on token prices, causing fluctuations in the market. With 35.6 million $SUI tokens primed for release, September 3rd promises to be a day of action and observation for the cryptocurrency community. As the countdown ticks away, industry stakeholders are prepared for an event that may not only impact $SUI token holders but also contribute to the broader narrative of growth and change within the crypto sector. The $SUI token unlock on September 3rd is expected to draw attention from all corners of the cryptocurrency industry.

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2023-08-31 01:43:52 Uniswap Considering Multi-Chain V2-V3 Integration Proposal Gains Momentum

The Uniswap community has taken a significant step towards enhancing its protocol’s accessibility and security. A proposal has been set forth, aiming to extend the deployment of Uniswap V2 across various blockchain networks while maintaining the V3 specification instances. Several V2 forks have surfaced on these alternate chains, albeit with varying modifications. The concern arises due to potential safety issues for users arising from these modifications.

To tackle this challenge, the proposal suggests integrating Uniswap V2 pools into general routers, a move anticipated to enhance application execution quality and facilitate seamless transactions for users of the router. Under the proposed guidelines, chains that have successfully undergone the community review process for V3 deployments would be automatically eligible for V2 deployments. Notably, both V2 and V3 deployments would share ownership under the same contract within their respective chains. If the temperature check vote secures approval, an on-chain vote will be scheduled for September 1. Successful passage of the subsequent on-chain vote would lead to the proposal’s implementation, anticipated by September 12.

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2023-08-29 22:47:18 Ethereum Daily Transaction Fees Reach 8-Month Low, Indicating Positive Shifts

Recent data from CryptoQuant has unveiled a significant drop in Ethereum’s daily transaction fees, hitting an 8-month low of approximately $2.8 million. On the previous day, users’ total fees for executing transactions on Ethereum dwindled to 1,719 ETH, marking the lowest single-day figure since December 26. This stands as a stark 89% decrease from the year’s high of 16,720 ETH recorded on May 5. A reduction in total fees paid signifies a diminished network utilization, as fees directly correlate with network activity, primarily pending transactions.

The decline in fees is a reflection of subdued demand for transactions, pointing to comparatively low user activity within the network. However, the bright side of this trend lies in the burgeoning popularity of Ethereum‘s layer 2 scaling solutions. These solutions provide an off-chain approach to processing transactions, aiming to alleviate network congestion and enhance scalability. The adoption of these solutions bodes well for Ethereum, as they lay the foundation for more efficient and cost-effective transactions, potentially alleviating the need for high transaction fees. As the Ethereum ecosystem continues to evolve, such initiatives promise to strengthen the platform’s long-term sustainability and usability, fostering a more robust and accessible blockchain ecosystem.

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