DeFi & Ethereum News

2022-11-06 09:19:02 Safemoon explodes 92% before crashing back down 40% amid extreme weekend volatility

The native token for the contentious crypto project Safemoon (SFM) has experienced extreme volatility over the weekend as the price rose 92% in the space of three hours early on the morning of Nov 5. The price jumped from $0.00035 at 6 am GMT to $0.00068 by 9 am GMT.

SFM token remains down 95% from its all-time high, as of press time, the token is still up roughly 19% on the day and 47% over the past month. News that a lawsuit pursued by a Safemoon investor who claimed insiders manipulated the price for personal gain has been dropped appears to be the main catalyst for the price action. However, #SAFEMOONBLOCKCHAIN is also trending on Twitter as the community speculates over a possible future native blockchain for the project.

Source

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

2022-11-05 09:13:02 UBS AG unveils publicly traded digital bond that settles on blockchain

Investment bank UBS AG has introduced its new digital bond, which the bank says is the first-ever to be publicly traded and settled on both blockchain-based and traditional exchanges. The digital bond has the same investment structure, legal status and rating as a traditional senior unsecured note, the bank said in a press release.

UBS AG’s senior unsecured digital bond is a 375 million Swiss franc-denominated ($272 million) three-year bond with 2.33% coupon. The bank will list the digital bond at SDX Trading and SIX Swiss Exchange. It will be eligible for the Swiss Bond Index, along with other UBS AG senior unsecured notes. The digital bond settles instantly and automatically through atomic settlement technology, using the SIX Digital Exchange distributed ledger-based central securities depository network.

Source

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

2022-11-04 07:53:02 Bitpanda's founders launch their own venture capital firm: Exclusive

The founders of crypto investment platform Bitpanda have quietly set up a venture capital firm, following in the footsteps of other fintech founders who have set up investment side hustles. Austrian company registers show that founding trio Eric Demuth, Paul Klanschek and Christian Trummer applied.

Filings from Companies House, the UK business register, also show that it participated in crypto custodian Copper's $50 million Series B round in the same month. So far, it has also invested in blockchain developer tooling startup Tatum, payments startup Payable, and Consola Finance, a web3 accounting platform, according to a Bitpanda spokesperson who confirmed the new VC firm to The Block.

Source

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

2022-11-03 10:22:02 Crypto exchange Bitmex cuts part of its workforce following CEO departure: Exclusive

Crypto exchange Bitmex has reduced its headcount as part of a pivot away from the exchange's "beyond derivatives" strategy, which included a push into spot trading, brokerage and custody services. "We are going to refocus on liquidity, latencies and a vibrant derivatives community including BMEX Token trading."

A Bitmex spokesperson initially said that 30% of the workforce were impacted by the cuts. They later clarified the figure is actually lower, without specifying an amount. Last week Alexander Höptner departed from his role as CEO of Bitmex after less than two years with the company. Bitmex's Chief Financial Officer Stephan Lutz was appointed as the exchange's interim CEO. The exchange employed roughly 180 people as of September.

Source

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

2022-11-02 10:11:02 Hackers have stolen $2.98B via exploits in the crypto industry so far

The cryptocurrency space has lost nearly $2.98 billion to DeFi hacks this year — almost double the $1.55 billion lost in 2021, according to a recent report by blockchain security firm PeckShield. Roughly $760 million was stolen in October through 44 hacks across 53 protocols — making it the worst month for crypto hacks in 2022. Excluding October, hackers stole approximately $428 million during the third quarter.

According to the Peckshield report, the worst breach in October was the BNB Chain exploit that led to hackers stealing $590 million from the network. However, the hacker only made off with roughly $100 million as BNB Chain was frozen immediately after the news broke — preventing the attacker from moving most assets off-chain. The perpetrator drained the entirety of the protocol’s liquidity, which amounted to approximately $100 million worth of assets.

Source

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

2022-11-01 07:56:02 Hong Kong issues policy statement on crypto

The Hong Kong government issued a crypto policy statement that clarified its plans to develop “a vibrant sector and ecosystem” for the nascent industry on October 31. The policy statement marks a key change for the government, which had recently revealed intentions to allow retail traders to invest directly in crypto.

According to the policy statement, licensed exchanges would operate in compliance with necessary anti-money laundering, counter-terrorist financing (AML/CTF), and investor protection laws. This would allow them “to access a wider net of investors in the Hong Kong market.”. Hong Kong’s Securities and Futures Commission (SFC) will conduct a public consultation to determine the crypto exposure level that retail investors would be granted.

Source

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

2022-10-31 07:15:04 Sam Bankman-Fried set to cash in up to $100 million from Musk's Twitter purchase

Sam Bankman-Fried, the founder and CEO of crypto exchange FTX, may cash in up to $100 million from Elon Musk's purchase of Twitter. The exchange executive owned about $50 million to $100 million worth of stock in the social media giant before the acquisition completed on Thursday, a source with direct knowledge of the matter told The Block.

Musk, the billionaire CEO of Tesla and SpaceX, completed his purchase of Twitter last week following months of wrangling. He made an immediate mark on the firm by firing CEO Parag Agrawal and other top executives — while tweeting a conciliatory message to advertisers that "Twitter aspires to be the most respected advertising platform in the world." Twitter's shares were suspended from trading on Friday, before being officially delisted on Nov. 8.

Source

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

2022-10-30 11:41:02 ZkSync is working on Layer 3 blockchain for Ethereum

The Layer 3, still in the initial development phase, is aimed at further improving the scalability of zkSync's blockchain infrastructure. Matter Labs first announced it was working on Layer 3 in early October and originally named it Pathfinder. It has now renamed the project to Opportunity.

Opportunity will be an additional off-chain computation layer on zkSync's Layer 2 main network. Building on top of zkSync, the Layer 3 is meant to help lower Ethereum scalability and gas costs. Matter Labs said “zkSync’s EMV-compatible Layer 3 proof of concept ‘Opportunity’ will come to life in the first quarter of 2023, bringing a starfield of 10X moments to Ethereum.". The team plans to release a proof of concept for its Layer 3 in the first quarter of 2023.

Source

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

2022-10-29 08:40:02 CFTC commissioner warns of 'parallel themes' to 2008 financial crisis in crypto market

Another leader at the Commodity Futures Trading Commission is urging for more regulatory power over crypto markets. Christy Goldsmith Romero, a CFTC commissioner, warned of increasing "contagion risk" in crypto markets in a speech in New York yesterday.

The vulnerabilities seen during this beginning of what some call the 'crypto winter' warn of growing intra-market risks, with parallel themes seen in 2008," she said. Her comments referred to the financial crisis caused in part by opaque swaps markets, while pointing to calamitous market events like the collapse of stablecoin TerraUSD and private fund Three Arrows.

Source

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

2022-10-28 09:33:02 Kazakhstan's central bank to test BNB Chain for its digital currency

The National Bank of Kazakhstan (NBK) has agreed to test Binance's blockchain network BNB Chain for potential integration into the country's central bank digital currency (CBDC), the exchange giant said. The development comes shortly after Binance received a license to operate in Kazakhstan.

Binance recently met with two NBK officials — deputy governor Berik Sholpankulov and head of payment and technological center Binur Zhalenov — Binance CEO Changpeng Zhao tweeted on Wednesday. The company introduced the two officials to the BNB Chain community to discuss testing the blockchain integration in digital tenge, according to Zhao. it is expected to make a final decision on the implementation.

Source

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