Crypto News Source

2023-05-06 05:15:03 Blockchain Developer Platform Alchemy Launches Public Support for ZK Rollup Starknet

Alchemy, which provides tools for software developers to build apps for blockchains, released a public version of its platform for Starknet – seen as a project to watch because of the combination of two hot technologies, zero-knowledge cryptography and account abstraction. Although Alchemy's dapp store lists 39 blockchains, the company said that the Starknet integration is key because of its “fast-growing developer community”.

Starknet is a ZK rollup, which scales a main blockchain by bundling transactions and processing them for faster and cheaper on a separate one. ZK Rollups use some cryptography known as “zero-knowledge proofs,” to ensure that a transaction is valid by only showing a small amount of information about that transaction before posting it back to the main blockchain (in this case Ethereum.) “Developers can incorporate customizable account permissions, build in safeguards to run at the wallet level, and create simple transaction flows. This empowers developers to build for a world where end users and businesses are always represented by a smart-contract wallet.”

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2023-05-05 05:32:02 Arbitrum-Based Exchange Chronos Attracts $170M to Yield Pools in a Single Day

Arbitrum-based decentralized exchange (DEX) Chronos attracted over $170 million onto the platform in a single day as it introduced staking, a way of earning yield from digital assets without needing to sell them. Chronos, which launched on April 27, is a so-called (3,3) exchange, using staking as a primary resource for accruing value to its token to achieve store-of-value status. The (3,3) paradigm was made famous by Ethereum-based Olympus DAO.

Some liquidity pools on Chronos are paying as much as 2,300% to liquidity providers (LPs) in the form of chr (CHR) tokens, which can be used to vote on protocol changes. LPs are entities that provide two different tokens to a decentralized exchange’s smart contracts, netting a cut of the fees charged by the exchange on each trade. Holders can restake these tokens to earn additional fees, retain voting power and ensure a liquid marketplace for other projects that may look to borrow capital from Chronos. Such yields are rare in the crypto market, which may explain the sudden rush of capital to Chronos.

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2023-05-04 05:06:02 Bhutan plans $500 million crypto mining fund with Jihan Wu's Bitdeer

Druk Holding & Investments (DHI), the commercial arm of Bhutan's government, and Jihan Wu's crypto mining company Bitdeer Technologies are seeking to jointly raise up to $500 million for a crypto mining fund. The fundraising process is expected to begin at the end of this month, the two entities announced Wednesday. Singapore-based Bitdeer will serve as the general partner of the fund and DHI will act as a strategic limited partner.

"The partnership with Bitdeer to launch a carbon-free digital asset mining datacenter represents an investment in a more connected and sustainable domestic economy, helping ensure we are at the forefront of global innovation," Ujjwal Deep Dahal, CEO of DHI, said in the announcement. Bhutan, a Himalayan kingdom with a population of less than a million people, has been quietly mining bitcoin for the past few years, Forbes reported Friday. DHI, specifically, entered the mining space when the price of bitcoin was around $5,000, Dahal told the local newspaper The Bhutanese last week. Bitcoin is currently trading at around $28,600.

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2023-05-03 06:18:02 Digital Bank Revolut Now Offering Crypto Investments in Brazil

Digital bank Revolut, which already offers crypto investments across Europe, is now open for business in Brazil. Revolut is making its first foray into Latin America, attempting to tap into Brazil's growing demand for crypto assets, the bank said in an emailed announcement on Tuesday. Crypto users in Brazil number some 10 million, according to Revolut's announcement.

Revolut has around 29 million customers worldwide and is looking to carve out a share in Latin America's most populous country, where digital bank Nubank is entrenched as the market leader with around 70 million customers. Nubank introduced crypto trading last June, hitting 1 million users only a month later. "Our mission is to unlock a borderless economy with financial products that are accessible and easy to use and that allow our customers to use their money efficiently," CEO Nik Stronsky said. "We will start with the global account and crypto investments, but this is just the beginning."

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2023-05-02 05:40:09 Binance warns crypto mogul Justin Sun against SUI token grab

Binance boss Changpeng Zhao today warned fellow crypto mogul Justin Sun that the exchange operator would take action against him if he tried to farm SUI tokens. But Sun quickly apologized for what he described as inadvertent actions and reversed them. Earlier today, Sun transferred a total of over 115 million TrueUSD (TUSD) stablecoins on Binance, according to Whale Alert tweets. TUSD is one of two tokens — the other is BNB.

Binance CEO Changpeng "CZ" Zhao noticed the huge transfers of TUSD, and tweeted that if Sun used any of those tokens to grab the Sui tokens available via Launchpool, Binance would "take action against it." Sun was quick to clarify that the TUSD transfer was made to provide liquidity. He added, however, that some of these stablecoins were "inadvertently" used to participate in exchange campaigns — which would have yielded SUI token rewards — and that the action will be reversed. "Binance Launchpool is meant as airdrops for our retail users, not just for a few whales," Zhao said, adding, "On the bright side, blockchains are transparent."

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2023-05-01 05:32:03 $1.5 Billion In Bitcoin Has Been Transferred To Binance In The Last 30 Days

Over the last 30 days, more than $1.5 billion in Bitcoin (BTC) has been deposited into Binance, the market’s largest cryptocurrency exchange. According to the data provided by Coinglass on the blockchain, Binance currently has 58,6549 BTC, of which 49968 Bitcoins have been deposited in the space of just the past 30 days. Another notable number that was mentioned by Coinglass was that 22590 BTC had been sent in the previous seven days, and that 5000 BTC had been sent in the previous twenty-four hours.

Bifinex and Gate are two further cryptocurrency exchanges that have observed growth in their BTC holdings in the preceding 30 days. During that time period, 2767.6 and 1023 BTC, respectively, have streamed into the exchange. Furthermore, another notable metric released by Onchain analytics platform Glassnode reveals that mining Bitcoin blocks is becoming increasingly difficult, as well as the number of hash functions required to mine a single Bitcoin block has reached an all-time high. Meanwhile, Gemini, OKX, and Coinbase Pro are among the top exchanges reporting Bitcoin withdrawals, with a total of 17134, 4447, and 1273 BTC withdrawn, respectively, over the course of the previous thirty days.

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2023-04-29 04:39:03 Crypto.com Announced To Partner With Samsung, CRO Price surged More Than 10%

The CRO price has increased significantly as Crypto.com recently announced a collaboration with the technological giant Samsung. The most current app update, version 3.158.1, will be made available on Samsung Galaxy Z Fold devices via the link. The app’s new capabilities will promote “increased productivity” and “multitasking,” according to the official release. Eventually, this will bring “advanced trading and analytics capabilities.” “Proud and excited to be partnering with Samsung to jointly drive digital assets adoption globally,”.

As a result of this collaboration, Crypto.com becomes the first cryptocurrency platform to provide a “tailored experience” to Samsung’s Galaxy Z Fold devices. Users will get access to new tools and resources on a single screen right away. This means that customers will be able to compare many tokens at the same time more easily than any other mobile device. The platform’s native cryptocurrency CRO increased in value in the 24 hours following the announcement. CRO is currently trading in the green at $0.0753, up 2.4% in the last 24 hours. One of the ways Crypto.com is pushing hard is by forming partnerships with prominent corporations.

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2023-04-28 04:08:02 BONE Is Now Officially Listed On Flitpay – An Indian Exchange

BONE has been officially listed on the Indian exchange, kicking off the game in this potentially lucrative market. Shiba Inu is a cryptocurrency that was inspired by the popular meme. It has even risen to the top 20 cryptocurrencies in terms of market capitalisation. Through different initiatives, development, collaboration, and listing, the SHIB development team has exhibited a consistent dedication to the implementation of associated projects.

Flitpay is a renowned cryptocurrency exchange in India, and the community has projected that this exchange will list BONE. The exchange also tweeted a poll asking the community which currency to add next, and BONE received the most votes. Bone ShibaSwap, often known as BONE, is a decentralized exchange (DEX) that is built on the Shiba Inu ecosystem. The token will be used as the governance token for Shibarium, which is Shiba Inu’s layer 2 solution. Additionally, this token will be the currency that is used to pay for all gas charges. According to the most recent information that was provided in a tweet by the official account of the exchange, Flitpay has now included BONE.

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2023-04-27 03:52:02 Certik Denies Rumors DEX zkSync Merlin Is Rug Pull

In response to some media reports that “the Merlin security incident is a Rug Pull and not a hacker attack,” security auditing firm Certik asserts that this is not Rug Pull. CertiK said the incident was likely caused by private key management issues rather than mining and is actively investigating. The initial findings point to a potential private key management problem rather than the root cause of the mining. While auditing can’t prevent private key issues, we always highlight best practices for projects.

Certik’s response teams worked hard to understand the situation and gauge the impact on our community. The “Merlin DEX” test report highlights the risk of centralization in the section “Attempts to decentralize”. According to the official Twitter, DEX Merlin eco-zkSync claims it analyzes protocol vulnerabilities and reminds users to revoke the wallet’s signature and connection page access on its official website. Merlin is a permission-less, community-centric DEX built on ZkSync with a liquidity environment that is robust and efficient. Earlier today, it was reported that Merlin’s liquidity had dried up and that hackers had stolen $1.82 million in funds.

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2023-04-26 04:36:03 Arbitrum Starts To Fully Distribute 1.13% Of ARB For DAOs

Arbitrum has started to completely distribute the inaugural ARB for DAOs in the ecosystem and the first batch will be delivered to DAOs that have validated the test distribution findings. According to the previously disclosed information, this ARB allocation is not a gift but rather an initial ARB allocation of 1.13%. Moreover, according to Ember, a chain analyst, the Arbitrum Foundation has transferred 90.14 million ARBs to 125 DAO addresses. Official records state that 112,834,000 ARBs will be airdropped to 137 DAOs.

According to data from the crypto intelligence tracker Spot On Chain, Treasure DAO acquired the most ARB tokens (8 million), with 60 other wallets receiving at least 75,000 ARB tokens apiece.The announcement of Arbitrum’s airdrop generated a good reaction from ARB, and the token’s price increased; nevertheless, analysts notice that it is now in a negative trend.According to experts, ARB distribution is expected to continue. Experts classified ARB’s stages as accumulation, distribution, and growth, forecasting a large increase in the token’s price. Previous to then, the Arbitrum Foundation had issued a slew of reform ideas in the aftermath of its first unsuccessful effort at governance.

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