DeFi & Ethereum News

2023-01-22 05:55:03 Coinbase Again Downgraded By Moody’s For Significant Reduced Revenue In 2022

Moody’s, a major provider of credit ratings, announced on Friday that it had lowered Coinbase’s long-term credit rating as well as the notes’ guaranteed senior unsecured status. Moody’s due to significantly diminished revenue and cash flow generating capabilities.

The long-term corporate family rating (CFR) for Coinbase, which measures the possibility of a corporate family defaulting on its obligations, was cut from Ba3 to B2, both of which are regarded as non-investment grades. According to the company, guaranteed senior unsecured notes were downgraded from B1 to Ba2. The protracted crypto winter, according to the rating agency, has negatively impacted Coinbase’s ability to generate revenue and cash flow. The company was downgraded by S&P earlier this month.

Source

https://t.me/DeFi_Ethereum Open / Comment

2023-01-21 06:20:02 NEAR Foundation Sponsors Composable Finance To Promote DeFi Of The Ecosystem

DeFi protocol Composable Finance announced that it had received funding from the NEAR Foundation. The goal of the grant is to support Composable efforts in building a collaborative environment and spirit for users and developers between its ecosystem and that of the NEAR protocol.

The grant’s objective is to assist Composable in its efforts to create a cooperative atmosphere and mindset for users and developers between its ecosystem and the NEAR protocol. Once connected to NEAR using the Inter-Blockchain Communication Protocol (IBC), Composable will be able to promote and speed up the adoption of Centauri and its infrastructure. The protocol’s ultimate goal is to provide sustainable ways for cooperation among various DeFi ecosystems.

Source

https://t.me/DeFi_Ethereum Open / Comment

2023-01-20 06:22:02 21shares Launches World’s First Crypto Staking Index ETP

The 21Shares Staking Basket Index ETP, the first cryptocurrency staking index ETP to offer exposure to staking rewards, was announced by 21Shares. The index will be rebalanced twice a year, in March and September, to take market changes into account.

The index is the first-ever collection of digital assets to follow the performance of the underlying staked coins through a single ETP while offering exposure to staking incentives. Together with Swedish index provider Vinter, the staking index technique for this product was developed. The company added that among the cryptocurrencies that are tracked by the 21Shares Staking Basket Index ETP are Binance Coin, Cardano, Cosmos, Polkadot, Solana, and Tezos.

Source

https://t.me/DeFi_Ethereum Open / Comment

2023-01-19 06:31:02 TaxBit Now Expands Crypto Services By Acquiring Digital Asset Accounting Startup Tactic

TaxBit, a provider of crypto tax software, on Tuesday announced that Tactic, a software business, would be acquired in order to expand its crypto accounting offerings. actic’s target market of medium-sized to small businesses this week.

By integrating Tactic’s accounting technology into its current corporate accounting suite (CAS) offering, TaxBit will now provide enhanced crypto accounting services in response to customer input. According to TaxBit CEO Austin Woodward, this will make it easier for institutional customers to manage the process of tracking cryptocurrency transactions and pricing for reporting, which should enable customers to close their books in days rather than months.

Source

https://t.me/DeFi_Ethereum Open / Comment

2023-01-18 06:13:02 Nexo Now Sues Cayman Islands Regulator Regarding Virtual Asset License

Nexo, a cryptocurrency lending platform, is suing the Cayman Islands government for refusing the company a virtual asset license, according to The Block.The firm wants the CIMA decision reversed, and the court to rule that it is suitable to be registered and then order CIMA to register it.

Firstly, the Cayman court filing that the Cayman Islands Monetary Authority denied Nexo’s application on December 20 because the firm’s business model did not match the acceptable risk profile. Nexo posed a risk to market confidence, consumer protection and the reputation of the Islands as a financial centre, according to the CIMA. Nexo directors and owners neglected to disclose to the CIMA a potential regulatory enforcement situation in the United States as well as proceedings in English courts.

Source

https://t.me/DeFi_Ethereum Open / Comment

2023-01-17 06:47:02 Argo Blockchain’s BTC Production in December Crippled by a Winter Storm

The miner produced only 147 BTC in December, compared to 198 BTC in November, because of the snow blizzard that hit Texas. Argo Blockchain – mined 147 BTC in December, roughly 25% less than the production levels registered in November.

The severe snow blizzard that impacted much of the States around Christmas prompted Argo Blockchain to join other Texas BTC miners in reducing electricity usage. With a diminished production power, the firm mined 147 bitcoin (worth approximately $2.6 million at current prices), compared to the 198 bitcoin in November. Argo Blockchain further revealed that it held 141 BTC as of the end of December 2022, its total debt stood at nearly $80 million, while its bank balance totaled around $20 million.

Source

https://t.me/DeFi_Ethereum Open / Comment

2023-01-16 06:28:02 Alameda Research Lost Over $1 Million Due To Liquidations

According to a tip that crypto intelligence company Arkham provided with The Block, Alameda Research lost over $1 million in assets as a result of liquidation last night. along with $4 million in DAI and 20 million USDC. The account now has a net balance of $15.2 million.

Before that, $72,000 in Alameda funds were liquidated on Aave on January 12 after being combined into one wallet. Some Twitter users claimed that. Sam Bankman-Fried was engaged in the incident where Alameda funds were seen switching wallets. Bankman-Fried’s transfer to Alameda is unlikely to occur, though, as he was not able to use the online platforms until December 30, 2022, following his arrest in the Bahamas on December 12, 2022. He thinks that if FTX liquidates Alameda, it won’t go bankrupt.

Source

https://t.me/DeFi_Ethereum Open / Comment

2023-01-15 12:33:02 Grayscale Now Slams SEC Inappropriately Acts As A Merit-based Regulator

Grayscale, a digital asset management business, has filed a fresh court brief criticizing the US Securities and Exchange Commission for its inappropriately acting as a merit-based regulator, running far afield from its disclosure-based regulatory.

The document, submitted on Friday, was in response to the Securities and Exchange Commission’s (SEC) December justification of its decision to deny Grayscale Investment’s (GBTC) proposal to convert it into a spot bitcoin ETF. While the SEC has authorized many bids to establish futures bitcoin ETFs, which are trading agreements to be carried out at a future date and price,the agency has stated that spot bitcoin ETFs.

Source

https://t.me/DeFi_Ethereum Open / Comment

2023-01-14 06:16:02 Nigeria Now Has Its First Bitcoin Lightning Network Node Operating

According to Bitcoin blockchain discovery sites Mempool and Amboss, Megasley, who manages the country’s LLightning Network node, is currently the only active LN node operator on the map in Nigeria. A new Lightning Network node in Nigeria is motivating Africans to adopt Bitcoin.

Lightning Network (LN) has been around for a while, but its adoption in rural places is still a long way off. However, the city of Nigeria, Lagos, just received its first Bitcoin Lightning Network node, a significant step toward better linking the continent to a Bitcoin-based layer 2 payment network. Megasley, who runs the country’s LLightning Network node, revealed his idea for delivering low-cost, rapid payments to Africa with the solution. He stated that his purpose is to assist Africans in receiving rapid and free money.

Source

https://t.me/DeFi_Ethereum Open / Comment

2023-01-13 09:19:02 Crypto.com Has Lost About 55.66% USDT In 7 Days Before Delisting In Canada

Data shows that Crypto.com has lost $80 million in the past seven days. The exchange held about 52 million USDT before having to delist in Canada. Today, Crypto.com had to delist from Canada due to compliance with the laws of this country.

Web3 knowledge mapping protocol 0xscope tweeted on its account that data shows crypto exchange Crypto.com currently holds the most significant amount of USDC, around 777 million USDC. Meanwhile, the amount of USDT holding is only about 52 million tokens. That number has dropped by about $80 million in the past seven days. Cryptocurrency exchange Crypto.com plans to delist Tether (USDT) from Canadian users starting January 31, 2023.

Source

https://t.me/DeFi_Ethereum Open / Comment