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2023-07-07 09:42:02 Pendle Opens Up New Growth Potential With TVL Up Nearly $150M

On July 5, total value locked (TVL) in Pendle, a DeFi protocol that divides yield-bearing tokens into principle and yield components, reached an all-time high of $171.25 million. This year’s growth of PENDLE has been spectacular. The token has risen from $0.044 at the start of the year to $1.75. The project’s token, which collects protocol fees while locked, is up roughly 4,000% this year, trading at levels last seen at the bull market’s peak two years ago. A spike of this size cannot be explained only by a recent listing.

Moreover, whales’ accumulation of PENDLE might be seen as a significant vote of confidence in the protocol’s long-term potential. Pendle’s novel approach to yield farming, which allows users to tokenize and exchange future produce, has grabbed the curiosity of forward-thinking investors. Inflows increased when Ethereum’s Shanghai upgrade went online in April, allowing for the first-time withdrawals of staked ETH. According to DeFiLlama data, approximately $40 million in stETH has been tokenized on the network since then. Pendle, in addition to yield-splitting, has an automated market maker (AMM) where traders may buy and sell either the primary token or its related yield independently.

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2023-07-06 12:16:03 Australian Regulators Attack Binance Offices In Ongoing Investigation

According to Bloomberg, The Australian Securities and Investments Commission (ASIC) is conducting an investigation into Binance, the world’s largest cryptocurrency exchange. According to unnamed sources, ASIC searched the company’s Australian offices as part of an ongoing inquiry into the exchange’s now-defunct local derivatives business. The categorization of retail and wholesale customers by Binance Australia is the subject of ASIC’s investigation.

Binance said in April that it would close its local futures exchange while continuing to operate its spot platform. Due to misclassification as wholesale investors, the business claimed to have terminated the derivatives holdings of some Australian customers. ASIC, who had previously suspended Binance Australia’s derivatives license, indicated that their investigation against the business is still continuing and declined to confirm or deny the search activities. The exchange replied by saying its collaboration with local authorities and commitment to achieving regulatory requirements in order to provide fully compliant service to Australian customers.

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2023-07-05 08:03:02 Luminex Launches New Standard BRC-69, Over 90% Discount On Inscriptions

Launchpad Bitcoin Ordinals Luminex has launched a new Ordinals collection standard, BRC-69, with simplicity at heart. BRC-69 is a revolutionary standard for creating recursive Ordinals collections quickly. This standard will be the engine that launches recursive collections on Bitcoin. BRC-69 can reduce the costs of inscriptions for Ordinals collections by over 90%. This reduction is achieved through a 4-step process.

The brilliance of BRC-69 lies in its simplicity. Minters only need to inscribe a single line of text instead of a full image. This text allows the final image to be automatically rendered on all ordinals-frontends, using solely on-chain resources, thanks to recursive inscriptions. Furthermore, the BRC-69 offers great flexibility and allows for more improvements and features. For instance, launching collections with a fully on-chain pre-disclosure process is now possible. The new standard will be tested with upcoming launches on Luminex. With this new standard, a perfectly rendered image.

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2023-07-04 11:09:02 Binance Extends Redemption Offer For XIRTAM Victims

Binance has revealed the reopening of the asset recovery application for users affected by the XIRTAM issue. Over the past month, BNB’s dedicated security team has diligently worked to address the concerns surrounding the XIRTAM project. This involved engaging in effective communication with users and continuously striving to find resolutions. Recently, the team successfully completed testing for the return of assets, marking a significant milestone in the recovery process.

With all the necessary preparations completed, BNB now invites its users impacted by the XIRTAM issue to submit their specific information through a designated form. To be eligible for asset recovery, users must submit their applications by 23:59 on August 2, 2023. Once the affected Binance account is verified, the security team will initiate the return of the respective ETH assets to eligible users through the smart contract address. This initiative highlights BNB’s commitment to maintaining a secure and trustworthy platform for its users. By actively investigating the XIRTAM issue and taking appropriate measures to safeguard user assets, Binance demonstrates its dedication to the integrity of the crypto community.

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2023-07-03 09:25:02 Hong Kong establishes task force to advance Web3 development

According to a June 30 statement, the government of Hong Kong has formed a task force comprising 15 industry participants and 11 key government officials to oversee the development of Web3, with a particular focus on promoting its growth in an ethical manner. As part of Hong Kong’s ongoing commitment to embrace the “megatrend” of Web3 development, it has established a diverse group of industry and government officials to supervise the progress of Web3 in the region.

Hong Kong’s Financial Secretary Paul Chan said the task force would further enhance Hong Kong’s aim to be a frontrunner in the Web3 sector. “Hong Kong seeks to lead and drive innovative exploration and development, create more new application models, and strives to draw together top-notch companies and talent in the arena to build a thriving ecosystem,”. It was highlighted that the market has “responded favorably” to the Hong Kong government policy statement on the development of virtual assets, which was released in October 2022. On March 20, Cointelegraph reported that over 80 virtual asset-related companies had expressed interest in “establishing their presence in Hong Kong” since the release of this statement.

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2023-07-02 09:15:06 Coinbase To Support Valkyrie And Bitwise Bitcoin Spot ETFs: Report

According to Bloomberg, Coinbase will also supply services for Valkyrie and Bitwise’s bitcoin spot ETF, according to individuals familiar with the situation. Coinbase’s partnership with the planned ETFs might result in an increase in income at a time when the crypto-exchange sector is experiencing low volumes. Coinbase’s revenue last year was less than half of what it was in 2021, when the sector was booming. The announcement also comes amid Coinbase’s legal fight with the SEC, which accused the company of operating an unlawful exchange.

Coinbase will become the custody-sharing agreement partner of Invesco Galaxy Bitcoin ETF, VanEck Bitcoin Trust, WisdomTree Bitcoin Trust, Fidelity Wise Origin Bitcoin Trust, and ARK 21Shares Bitcoin ETF, according to recent reporting. Fidelity Investments led a flurry of corporations that submitted a second batch of applications for a spot Bitcoin exchange-traded fund on Friday afternoon to add additional information after the US Securities and Exchange Commission suggested that the earlier files were inadequate. The companies are among eight that are attempting to establish the first generation of US spot Bitcoin ETFs. In mid-June, BlackRock Inc. surprised the market by registering for such a fund.

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2023-07-01 16:15:53 Crypto News Source pinned «​​​​We have the best crypto news feed on Telegram Bitcoin Updates Trading Signals Crypto News upcoming ICOs Join Now: https://t.me/CryptoNewsSource Admin: @Crypto_Marcus» Open / Comment

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2023-07-01 10:23:02 Lido Community Boosts Protocol Fund With 20,000 ETH Investment

Lido community, a decentralized staking protocol for Ethereum 2.0, has put forth a proposal aimed at enhancing the platform’s operational sustainability. The proposal suggests allocating 20,000 ETH to the protocol fund, with the goal of generating additional revenue to offset ongoing costs. Currently, the project is in the main voting phase, set to conclude in the early hours of July 1, and has garnered a 100% approval rate. Following this vote, a second voting period will commence.

According to the proposal, the expected rate of return on the 20,000 ETH, estimated to be around 4% to 6% annually, could potentially yield an additional $2 million in revenue for the Lido protocol. This anticipated increase in earnings highlights the community’s proactive approach to securing the financial sustainability of the project. The move to allocate funds to the protocol fund aligns with Lido’s objective of creating useful assets that can generate revenue streams. By committing a portion of the ETH holdings, Lido aims to ensure ongoing operational viability while simultaneously exploring avenues to maximize returns for its participants.

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2023-06-30 09:23:53 FTT Boom Over 65% In Just One Day, FTX Revival Effect Happened

FTT, once the token representing the FTX empire, seems to have caught up with the signal that FTX is planning to revive the exchange with extremely impressive gains in recent times. It seems like FTX, the revamped cryptocurrency exchange, is on the verge of relaunching with the goal of emerging as an altogether new platform. In response to the statement, FTX’s restructuring head, John Ray, said that the company had begun the process of interacting with interested parties in order to revitalize the FTX.com exchange.

After the favorable statement, the native token of the defunct FTX exchange, FTT, attracted purchasers, resulting in a large price rise of more than 65% in only one day. At the beginning of the week, FTT had a stunning increase in momentum, resulting in a large gain of over 95% for purchasers in only four trading days. As a consequence, according to CoinMarketCap statistics, the market capitalization has recovered to $560 million. The FTT price, which is now trading at $1.722, has risen by more than 35% in less than 12 hours, increasing the total gain from June 15 to more than 150%. It is apparent that this is a breakout in comparison to the current crypto market, but can this growth be sustained? The current price has also reacted to the Fib 50% level at $1.85.

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