DeFi & Ethereum News

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

2023-01-03 06:29:02 Litecoin Records Certain Milestones In 2022 Despite The General Downtrend

Litecoin achieved several on-chain and off-chain milestones despite the broad slump that characterized the previous trading year. Although it saw more than 50 million unique wallet addresses, LTC has lost more than half of its value as of the time of publication.

According to a Litecoin tweet, over 39 million transactions were executed on the decentralized, open-source LTC network at the end of the 2022 trading year. Additionally, throughout the year, Litecoin’s hashrate reached a brand-new record high of 613.81TH/s. Additionally, on December 3rd, after 11 years of operation, the network’s average difficulty reached a record high. LTC’s value fell by 54% as a result of the dramatic market slump during the last year.

Source

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

2023-01-02 07:44:02 FTX Debtors Now Fighting To Get Their Forfeited Money Back From The Bahamas Government

FTX Trading and its affiliated debtors announced on Friday that they would seek the restoration of cryptocurrency held by the Bahamas Securities Commission to their chapter 11 estates. FTX customer assets worth more than $3.5 billion since Nov. 12.

The FTX debtors have informed the Bahamas Commission that they do not believe Bankman-Fried, Wang, or the Bahamas Commission have the authority to take any of their cryptocurrency. The agency is urged by the FTX debtors to clarify any misunderstandings that their recent comments have caused and to give the public, correct information about the cryptocurrency.

Source

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

2023-01-01 07:17:02 Cardano (ADA) Is The Most Actively Developed Cryptocurrency Protocol In 2022

The majority of the cryptocurrency market is still battling to recoup its value following the FTX collapse, capping off one of the worst years in the sector’s history, but Cardano (ADA) is making progress in terms of development activity.

According to a list issued on December 30 by the on-chain and social metrics platform Santiment, Cardano is the top blockchain protocol by development activity in 2022, followed by Polkadot (DOT) and Cosmos (ATOM). The Cardano team’s development activity rates were the highest among all observed protocols over the full year of 2022, despite ADA ranking sixth in terms of its return on investment (ROI) after the token sale.

Source

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

2022-12-31 08:59:02 Celsius Seeks To Help Customers Extend Deadline To File Claims

Celsius wants to delay the deadline for creditors to report the amount they are owed until early February rather than January 3.The bankruptcy court handling the issue will hear the application to extend the deadline at a hearing on January 10.

According to the crypto lender, its objective is to provide account holders more time to submit any proof of claim. Later this week, the business will submit a motion asking for a postponement of the bar date. Celsius customers will have an extra deadline to file a claim as the company appears to be trying to get the court to extend the time until February next year.

Source

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

2022-12-30 05:58:02 Brazilians are turning to stablecoins to protect savings from inflation

According to recent market data, 50% of the Brazilian Real (BRL) volumes involve a stablecoin. The recent development poses an impressive figure about the usage of stablecoins in Brazil, especially as only 5% of the BRL volume involves USD directly.

Brazil’s Real continues to struggle to hold its value as inflation, coupled with the global economic crisis, continues to hit hard on the South American country. In June, the inflation rate grew to 9.704%, the highest in 2022. The struggle against inflation in Brazil caused the Real to weaken against the U.S. dollar. In Brazil, stablecoins are seen as an excellent way to protect savings from inflation.

Source

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