DeFi & Ethereum News

2022-09-14 10:12:02 BitGo Confirms Filing Lawsuit Against Galaxy Digital, Seeks $100M in Damages

BitGo confirmed earlier today that it had filed a lawsuit against the Mike Novogratz-spearheaded company seeking damages in excess of $100 million. In a September 13 Twitter thread, BitGo confirmed the previous rumors about the lawsuit, saying it was filed on September 12.

Galaxy Digital planned to acquire BitGo earlier this year but backed out of the deal recently. The company said it wants “more than $100 million” in damages “arising from Galaxy’s improper repudiation and intentional breach of its merger agreement with BitGo.”. However, the former terminated the agreement in August, claiming that BitGo had failed to deliver audited financial statements from 2021 that was in compliance with its requirements.

Source

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

2022-09-13 10:43:02 Crypto Exchange Huobi to Delist 7 Privacy Coins, Citing ‘Latest Financial Regulations’

Crypto exchange Huobi revealed that it had already terminated trading for Dash (DSH), Decred (DCR), Firo (FIRO), Monero (XMR), Verge (XVG), Zcash (ZEC) and Horizen (ZEN) on September 6. Deposits for each coin will also cease as of September 12, but withdrawals will continue to function.

A complete delisting of all of these tokens is slated for September 19. As Huobi explained, the decision is an effort to comply "with the latest financial regulations," as well as its own global token management rules. The exchange has yet to respond to Decrypt's request for comment. If they don’t, those orders will be auto-canceled at the time of delisting, and relevant assets will be credited to users’ accounts.

Source

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

2022-09-12 09:36:02 Conservative Party of Canada Chooses Bitcoiner as Its New Leader

Canada’s Conservative Party picked Bitcoin-friendly MP Pierre Poilievre as its next leader, Politico reports. Poilievre has repeatedly promoted the largest cryptocurrency as an inflation hedge throughout his campaign. The Ottawa-area MP has a personal investment in Bitcoin, but his campaign says that it doesn’t prevent him from commenting on issues related to crypto.

Even though Poilievre's pitch to cryptocurrency investors might look foolish after a massive crypto crash, the MP’s embrace of Bitcoin didn’t hurt his campaign. He managed to win 68.15% of the total vote, racing far ahead of MP Leslyn Lewis, his closest competitor in the race. The right-wing populist will have to face off against Canadian Prime Minister Justin Trudeau during the next general election, which is expected to happen in 2025. As reported by U.Today, Canada became the first country to launch a Bitcoin exchange-traded fund (ETF).

Source

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

2022-09-11 08:41:02 Ethereum Successfully Deploys Final Network Test Before Merge

In the frenzied build-up to Ethereum’s much-anticipated merge, the network’s developers have deployed test after test to make sure everything goes smoothly when the second-largest cryptocurrency by market capitalization transitions to proof of stake sometime next week. Ethereum today successfully completed what its developers say is the absolute final.

The Ethereum mainnet’s 13th shadow fork went live earlier today, apparently without a hitch. Shadow forks are focused trial runs of aspects of the merge, which test for potential issues and simulate the act of shifting the Ethereum mainnet’s underlying mechanism from the current, proof-of-work mining model to proof of stake, which will end the practice of mining on the network. Last week, during Bellatrix, a key pre-merge upgrade.

Source

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

2022-09-07 09:03:02 Charles Hoskinson calls Ethereum Classic ‘dead project with no purpose’

Hoskinson has recommended Ergo to proof-of-work proponents saying the coin is "innovating and has a great community." Cardano (ADA) founder Charles Hoskinson said Ethereum Classic (ETC) is a “dead project with no purpose or compelling argument to exist outside of spite.”

Hoskinson gave this response to allegations that he wanted to exploit ETC miners. An Ethereum Classic supporter on Twitter had accused Hoskinson of trying to milk the network after he proposed a 20% miner tax. Hoskinson recently proposed a decentralized treasury protocol and recommended setting up a development fund for ETC. The proposal would change ETC block rewards allocation, with a portion of the reward going to the decentralized treasury protocol. ETC miners rejected this idea because it cut into their rewards.

Source

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

2022-09-06 07:10:01 DeFi Project Lido Finance Rose 20% Last Week Ahead of Ethereum Merge

Holders of Lido Finance’s native token, LDO, have seen their holdings grow by over 20% in the past week. Since last Monday, LDO has risen from roughly $1.61 to $1.93 today, marking a total run-up of 20.5% over that period, according to CoinMarketCap. Trading volumes for the token have also skyrocketed over the past 24 hours, rising roughly 19%.

The most popular trading pairs have been Binance’s stablecoin BUSD, Tether’s USDT, and Bitcoin. The majority of the trading action is happening on Binance, FTX, Gate.io, and KuCoin. In the last 24 hours, however, the price has dropped by around 0.25%. And since its all-time high of $18.62 in November 2021, LDO has fallen a whopping 89.43%. In exchange for the deposit, users earn a staked version of their holdings; depositing Ethereum, for example, earns you “staked Ethereum” or stETH.

Source

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

2022-09-05 06:30:05 Ethereum Unique Addresses Grow in Anticipation of Merge

Ethereum Merge is only 13 days away, and activity on the network is reaching new highs with 204,571,827 unique addresses on the network now. This represents a growth of over two million unique addresses in the last 30 days -a daily average of 70,000 addresses based on Etherscan data.

While new addresses don’t always mean increased network activity as individual investors may have multiple addresses. However, it could be a sign of increased interest in the blockchain network. The number of staked ETH on Ethereum 2.0 has been growing consistently over the past few months and stands at 13,509,375 ETH as of August 31. That represents an addition of over 300k ETH to the network within a month.

Source

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

2022-09-04 07:50:05 Bybit to Follow Binance by Introducing Zero Fee Trading

Trading companies are moving to waive trading fees to attract more customers and to make crypto as accessible and inclusive as possible. Bybit, one of the biggest derivative exchanges, has introduced a feature that will have zero fees for all spot trading. It is a move seen as too good to be true, and investors are questioning whether they are rebalancing profits elsewhere.

The announcement, which has been viewed as a marketing strategy to attract more customers, will also reward new customers seeking to use the spot trading feature with up to $600 as a thank you for signing up. Among other perks the company has introduced, include zero-fee promotion and this will not be applicable to pending order fees incurred before the promotional event which begins on September 6.

Source

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

2022-09-03 08:04:02 ETH Whales Move Ethereum to Exchanges Awaiting The Merge

ETH whales are on the move. Major investors in the Ethereum (ETH) network are sending their holdings in the asset to exchange addresses, according to data gathered by Santiment. The Merge, an event where the ETH mainnet will merge with the Beacon Chain and adopt the Proof-of-Stake (PoS).

The merger, awaited for years by network enthusiasts, has positively impacted the price of the second largest cryptocurrency in the world. Since the Ethereum 2.0 date was announced on July 15th, the network’s native token has surged 70% according to TradingView, despite undergoing a price correction in recent weeks. Data from analytics firm Santiment shows that major Ethereum cold wallets have reduced their ETH holdings by 11% in recent months.

Source

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

2022-09-02 08:30:13 Crypto startup wins cybersquatting dispute against Deloitte

Crypto startup Don’t Know Your Customer has managed to avoid a cybersquatting complaint brought by accounting giant Deloitte over its domain name. Web3 design and branding firm Penultimate Media Systems registered DontKYC.com for its crypto client, which claims to be a non-profit community that operates on the Binance Smart chain while offering prepaid cards that offer anonymity.

Deloitte disapproves the domain owner abbreviated its service as DKYC on its website. The accounting firm argued that the disputed domain name is highly similar to its own trademark as it uses the acryonym in the same form. Deloitte even accused DKYC’s website of being illegal and emphasized the alleged damaging effects the startup’s use of the disputed domain name on the accounting firm’s reputation. The accounting firm explained that the crypto startup is promoting anonymous financial transactions.

Source

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