DeFi & Ethereum News

2022-08-18 09:05:02 Total amount of staked ETH almost doubles in a year as Merge approaches

As the Merge upgrade of the Ethereum (ETH) blockchain inches closer, the total amount of its staked native token has recorded a new all-time high, almost doubling across the previous year. Specifically, the amount of ETH staked reached 13.29 million on August 16, which is nearly double compared to one year before, despite its price declining by 43% during the same period.

Defi Pulse’s chart also shows that, since the start of the Ethereum 2.0 upgrade, the amount of staked ETH has been steadily growing after the community staked more than 1 million Ethereum within the first week of December to support the upgrade. In April 2021, the value of staked ETH reached $10 billion, with 3.9 million ETH staked and the price standing at $2,582, as Finbold reported at the time. Considering that, at press time, Ethereum was trading at $1,865, this means that the total cumulative amount.

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

2022-08-17 10:45:03 Alleged Tornado Cash Dev Suspected of ‘Facilitating Money Laundering

The Dutch financial crimes agency that last week arrested a 29-year-old developer in connection with cryptocurrency mixer Tornado Cash said that “he is suspected of involvement in concealing criminal financial flows and facilitating money laundering.”.The DeFi Education Fund, a policy nonprofit that advocates for decentralized finance, published the responses.

Tornado Cash is an app that obscures Ethereum transactions, which has made it popular with traders who want to maintain their privacy. But the U.S. government has said that the project “repeatedly failed to impose effective controls designed to stop it from laundering funds for malicious cyber actors,” and the Office of Financial Assets Control (OFAC) added dozens of crypto wallet addresses to its sanctions list on August 8.

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2022-08-16 10:05:02 Revolut gets regulatory approval to offer crypto services to its 17 million European customers

After announcing plans to grow its cryptocurrency workforce with, among others, employees in Europe, challenger bank Revolut has received regulatory approval to offer crypto services to millions of its users in Europe. Indeed, the Cyprus Securities and Exchange Commission (CYSEC) has made the United Kingdom-based neobanking platform Revolut its crypto-asset service provider (CASP), the bank said on August 12, CoinDesk reported.

This way, the bank can now set up its European hub in Cyprus and offer additional crypto services, and exposure to crypto assets like Bitcoin (BTC) to its 17 million customers in the European Economic Area (EEA) after the Markets in Crypto Assets (MiCA) bill is enforced. Meanwhile, Revolut is planning to increase its crypto workforce by 20%, with employees in Europe, the United Kingdom, and the United States over the next six months.

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2022-08-15 09:34:02 FTX and Paradigm Join Forces to Unveil Crypto Futures Spread Trading

Crypto exchange FTX has partnered with digital asset investment firm, Paradigm. The aim of the collaboration is to launch spread trading, which will essentially enable users to benefit from pricing dislocations with “cash-and-carry” plays. Spread Trading can be referred to as the purchase of one security and sale of a related security, called legs, as a unit.

According to the official blog post, the partnership will help users to leverage “single-click” trading with “no leg perpetual risk.” Paradigm explained that users will be able to trade the spread between spot, perpetual, and fixed maturity futures on eight crypto-assets – Bitcoin (BTC), Ether (ETH), Solana (SOL), Avalanche (AVAX), ApeCoin (APE), Dogecoin (DOGE), Chainlink (LINK) and Litecoin (LTC). FTX, on the other hand, is tasked with offering “guaranteed atomic execution and clearing of both legs” for the trades.

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2022-08-14 08:04:02 Ethereum hits 8-month highs in BTC as money heads for 'riskier' altcoins

Liquidity is strong on alt markets as Bitcoin gives way to Ethereum after a battle which has raged throughout 2022. Ether (ETH) is worth more in Bitcoin (BTC) than at any time since the start of the year amid renewed appetite for altcoins.Data from Cointelegraph Markets Pro and TradingView confirms that ETH/BTC has cleared key resistance to pass 0.08 BTC on Aug. 13.

The move is impressive for largest altcoin Ethereum, as the area around 0.075 represented a troublesome sell zone which had previously kept bulls in check for since January. At the time of writing, ETH/BTC is working to retain the newly-won level, as traders query how long its strength might last. Noting a trend to pile into altcoins developing, on-chain analytics firm Glassnode eyed a desire among investors to heighten risk exposure in the current atmosphere.

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2022-07-25 11:20:04 #1 Source For Education on Crypto, Bitcoin, Trading & general News

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2022-07-25 09:37:02 Ukraine’s New Fiat Restrictions to Boost Popularity of Crypto, Industry Says

The central bank of Ukraine has adjusted the fixed exchange rate of the national currency in U.S. dollars and introduced stricter limits on hryvnia transactions for citizens. The measures are likely to turn more Ukrainians to cryptocurrencies, according to a representative of the local crypto sector.

The National Bank of Ukraine (NBU) has introduced new rules in response to the changing fundamentals of the country’s economy during an ongoing military conflict with Russia. The monetary authority devalued the Ukrainian hryvnia against the strong U.S. dollars by 25% on Thursday and set new limits on banking operations with the national fiat. According to the updated regulations for private individuals, enforced on July 21, banks can sell non-cash foreign currency to their customers only if the amounts are deposited for a period of at least three months, without an option to terminate the contract.

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2022-07-24 10:20:04 Tighter Crypto Regulation In Thailand Delays Bitkub’s Acquisition

Thailand’s Plan of tightening crypto regulations have caused major setback to retail investors and digital asset enthusiasts. Adding to this, several companies have received a major blow due to this decision. Increased supervision on digital assets comes after the industry witnessed major sell-off over the last couple of months.

Siam Commercial Bank (SCB) is Thailand’s oldest bank was supposed to acquire Bitkub which is a famous crypto exchange. The bank is unable to do that as Thailand recently amped up regulations on cryptocurrencies. A subsidiary of the bank was reported to acquire 51% stake in Bitkub. The timeline mentioned was apparently the second quarter of 2022, the plan was to become a regional fintech post the acquisition. Currently, there is no date in sight for the acquisition to take place. SCB X had announced that it wanted to acquire a stake in Bitkub, last year, November.

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2022-07-23 15:37:02 Vitalik Buterin considers Ethereum development only ‘55% complete’ after The Merge

Ethereum founder Vitalik Buterin sees Ethereum’s history moving off-chain to reduce the protocol’s complexity. Speaking on the main stage of EthCC on July 21 about the long-term future of Ethereum, Vitalik stated that Ethereum is going through a transitional state and its development is only “40% complete.”

The merge is coming around September when Ethereum finally moves to proof of stake, the surge relates to the implementation of sharding, the verge brings in verkle trees, the purge will reduce the hard drive space needed for validators, and the splurge will do “all the other fun stuff.” Following the merge this year, Vitalik thinks that “everyone working hard to make it should be super happy at this point.” Further, he believes that Ethereum will be “55% complete.” Sharding will come next, bringing Ethereum “up to 100K transactions per second after the surge.”

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