DeFi & Ethereum News

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

2023-01-12 06:33:02 Former Coinbase Manager Gets 10-Month Prison Term

Nikhil Wahi, the brother of Ishan Wahi, a former product manager at Coinbase, entered a guilty plea and was sentenced to 10 months in prison for using his family ties to engage in insider trading of cryptocurrency tokens.a lawsuit alleging insider trading involving digital assets was brought up against Nathaniel Chastain.

U.S. Attorney Damian Williams noted that this was the first occasion “a defendant has admitted guilt in an insider trading case involving the cryptocurrency markets” after the defendant’s guilty plea in September. Ishan Wahi, in contrast, entered a not-guilty plea in August. Prosecutors, on the other hand, wanted to see him serve up to 16 months in jail. Nikhil will be sent back to India after serving his punishment.

Source

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

2023-01-11 08:49:02 Ethereum Developers Submitted An Improvement Proposal EIP-5988

The eips.ethereum page shows that Ethereum developers have submitted an improvement proposal, EIP-5988. It is understood that the proposal introduces a new pre-compiled solution, which aims to improve the efficiency of running zero-knowledge proofs on the network.

The Poseidon arithmetic hash function was created with Zero-Knowledge Proof Systems in mind. In order to interface with the EVM in the best possible way, Ethereum must incorporate facilities for L2s because its roadmap is rollup-centric. For the aim of creating effective ZK/Validity rollups on Ethereum, the Poseidon hash function is especially well-suited because it is a collection of permutations over a prime field.

Source

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

2023-01-10 06:35:02 The Circle Reserve Fund Managed By BlackRock Has $12.79 Billion Invested In

According to Circle’s most recent attestation report, 30% of USDC’s reserves – or $12.79 billion – are invested in its government money market fund, the Circle Reserve Fund, managed by BlackRock. Thus, the RRP would significantly improve USDC’s risk profile.

Base on BlackRock’s disclosure daily update page, the share of USDC reserves held in the Circle Reserve Fund has climbed to about $28.6 billion, or 65%, since then. Circle is ceding some of its management over USDC’s reserves to an external manager subject to SEC oversight, which eventually makes USDC safer. Transparency is also improved because USDC users can now receive regular updates from BlackRock.

Source

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

2023-01-09 09:43:02 Shanghai upgrade to include Ethereum unstaking

Ethereum developers said the upcoming Shanghai upgrade, slated for March, would add functionality to withdraw staked ETH, according to Bloomberg News.The confirmation brings welcome relief for stakers and vested parties.

Since the Beacon Chain went live in November 2020, Ethereum deposited into the staking contract has amassed at a steady rate. Currently, 15.9 million ETH, valued at approximately $19.8 billion, have been deposited, representing 13.2% of the supply. Data from Messari showed Ethereum has the lowest staking ratio of any major Proof-of-Stake (PoS) chain. The staking ratio of other significant PoS chains ranged between 46%, going as high as 90% for BNB.

Source

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

2023-01-08 08:38:02 Animoca Brands Seeks to Raise $1 Billion in Q1 2023 to Invest in Web3

The Hong Kong-based Animoca Brands could roll out a $1 billion Web3 and Metaverse investment fund. The initiative comes in spite of the market decline and the FTX crash, which have vaporized much of the interest in cryptocurrencies.

The Hong Kong-based Animoca Brands seeks to double down on its Web3 endeavors by raising $1 billion to support blockchain and Metaverse startups. Chairman and Co-Founder – Yat Siu – said the firm aims at completing the fundraisiер during the first three months of 2023.The Hong Kong entity vowed to roll out a $2 billion fund (called “Animoca Capital”) to invest in Metaverse businesses across the globe in partnership.

Source

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

2023-01-07 07:32:02 Immunefi researcher saves $200 million from potential theft on three Polkadot parachains

A security researcher discovered a software vulnerability that could have been exploited to steal as much as $200 million from three Ethereum-compatible parachains on Polkadot — Moonbeam, Astar Network and Acala. The researcher, known as pwning.eth, was awarded a $1 million bounty.

The researcher, known as pwning.eth, found and reported the critical vulnerability in June, when the program was submitted, in a software called Frontier that is used for "wrapping" native tokens on the three blockchain projects (or parachains) on the Polkadot network. The report was submitted on the crypto-focused bug-hunting platform Immunefi on June 27, but only recently disclosed.which holds the native tokens in escrow and issues the wrapped tokens to the user.

Source

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

2023-01-06 08:15:01 Coinbase Pays $100 Million To New York Regulator Fine For AML Regulatory Vulnerability

After looking into Coinbase’s compliance program, the New York State Department of Financial Services, or NYDFS, has come to an agreement with the company. The NYDFS fined Coinbase $50 million and compelled the company to invest another $50 million into its compliance program.

Following a settlement with the regulator, which discovered glaring gaps in the cryptocurrency exchange’s review of customer IDs and notifications on transactions, the NYDFS fined Coinbase $50 million and compelled the company to invest another $50 million into its compliance program. according to the financial authority. The NYDFS reported problems with user onboarding and transaction monitoring procedures.

Source

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

2023-01-05 08:31:02 NEAR Foundation Improves Grant Allocation Process From Early 2023

According to the official blog, the NEAR Foundation announced that it is improving its appropriation process, including a more decentralized capital allocation model through DAO appropriation, initially involving DeveloperDAO, MarketingDAO, CreativesDAO.

Additionally, expect to take 6-8 weeks to work with community members to outline a clear application process for applying for funding through the DAO. Projects that have received partial funding and are running will continue to receive support for the remainder of their original program. Any application that has not yet reached the approval stage will not be awarded funding. which will be handed over to MarketingDAO when they are set up to manage them.

Source

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

2023-01-04 08:12:02 Alameda Research Might Fall From The Beginning In 2018

According to the Wall Street Journal, citing people familiar with the matter, Alameda’s trading algorithm is designed to conduct a large number of automated and fast transactions, but it caused losses as early as 2018 due to wrong guesses about price movements.

By the spring of 2018, Alameda’s assets had fallen by more than two-thirds, to about $30 million, partly because of huge losses on XRP, the token of Ripple’s payments network. Sam Bankman-Fried, Alameda owner, needs more and more capital to stay afloat. In late 2018, he promised potential lenders annual returns of up to 20% in cash or cryptocurrency, according to people familiar with the matter.

Source

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