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2023-03-13 08:24:02 Circle says outstanding USDC transactions won’t process until Monday

USDC transactions through Signature Bank's Signet network won't process until Monday, according to a note sent by Circle to trading firms. Circle, which founded USDC in 2018 with Coinbase, revealed Friday that $3.3 billion of its reserves behind its flagship stablecoin were stuck with the failed Silicon Valley Bank.

The note confirms transactions on Signet—which traders used to move funds over the weekend— “will be processed on Monday when banking resumes during normal working hours.” The Signet system, designed to enable real-time payments for commercial clients, is active but is “reaching a capacity threshold which is causing the temporary delay,” according to the note sent by Circle and reviewed by The Block. The delay may explain why the premiums witnessed on exchanges like Coinbase following the flight from USDC are not being arbitraged away as their order books merge USD with USDC.

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2023-03-12 08:13:02 Justin Sun’s Address Transfers 82 Million USDC From Aave V2 To DAI

According to Paidun’s monitoring data, a new transaction on Justin Sun address using USDC was spotted on March 11. According to Paidun’s monitoring data, Justin Sun’s address withdrew 82 million USDC from Aave V2 and converted them all into DAI before extracting 11.6 million USDC from Aave V2. As previously reported by Coincu, the USDC depeg has fallen below $0.95 USD.

Justin has lately completed multiple million-dollar transactions. Not only that, but he moved more than 100 million USDC to the Huobi exchange on the preivous day. Justin Sun stated earlier today that Huobi will bear the whole loss of leveraged positions due to HT market volatility and will invest $100 million USD to establish a liquidity fund. Sun apologizes to HT users for the volatility caused by a small number of user-leveraged clearing houses. To increase the Huobi platform’s multi-currency liquidity, the business intends to invest $100 million.

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2023-03-11 08:12:02 US DoJ appeals billion-dollar Binance.US acquisition of Voyager assets

The U.S. Department of Justice's Trustee Office filed an appeal against Binance.US' acquisition of bankrupt crypto lender Voyager Digital's assets roughly one day after New York bankruptcy judge Michael Wiles approved it. Though New York's bankruptcy court signed off on Binance.US' plan to purchase Voyager's distressed assets.

The DoJ's appeal follows similar opposition from other regulators — including the Securities and Exchange Commission, which filed an objection to the deal last month, citing a potential violation of federal securities laws through the unregistered operation of a securities exchange. Things have to be done," Judge Wiles said during the hearing. "We have creditors who are waiting and who in the midst of all of this uncertainty have no access to property in which they’ve invested, in some cases, their life savings, so we have to take some kind of action,” he added.

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2023-03-10 08:43:02 Ethereum Founder’s Fund Donates $15M To Fight Airborne Pathogens

The Balvi Filantropic Fund, directed by Ethereum founder Vitalik Buterin, has gifted the University of California San Diego $15 million in USDC, the largest cryptocurrency gift to date to fund open-source research on aerosols. This generous donation has established the Meta-Institute for Airborne Disease in a Changing Climate, or “The Airborne Institute,” at UC San Diego.

The institute plans to develop a standard for sampling and analyzing airborne microbes and pathogens, including viruses, bacteria, fungal spores, and pollutants to achieve its goals. Researchers will set up air samplers in various locations worldwide to measure the distribution of airborne pathogens around the globe. They are currently testing the samplers in Imperial Beach, California, a coastal site heavily impacted by pollution runoff and sewage flowing into the ocean. The team is studying ocean sources of airborne pathogens.

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2023-03-09 07:15:02 Block solicits feedback for bitcoin 'mining development kit'

Jack Dorsey's Block is soliciting developer feedback for what it calls a bitcoin "mining development kit," which it says could unleash further innovation in the Bitcoin mining space and increase innovation, with a goal to reduce energy consumption. The mining development kit, as so far envisioned in a blog post, would be comprised of four parts.

The intention behind the [mining development kit] is to provide developers with a suite of tools to help unlock creativity and innovation in bitcoin mining hardware," the company said in its blog post. "We anticipate the [kit] being useful development projects focused on integrating bitcoin mining into various novel use cases — such as heating solutions, off-grid mining, home mining or intermittent power applications — as well as optimization of bitcoin mining hardware for traditional commercial mining operations.

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2023-03-08 09:12:02 FTX Bankruptcy Specialists Collected $38M In Fees In January

According to CoinDesk, according to court filings, FTX bankruptcy specialists raised a total of $38 million in January, including a team of attorneys, investment bankers, consultants, and advisors. financial matters. Bankruptcy managers hired Sullivan & Cromwell LLP as legal counsel. They also hired the law firm of Quinn Emmanuel Urquhart & Sullivan and Landis Rath.

Meanwhile, financial services firm Alvarez & Marsal and Perella Weinberg Partners were hired to sort through FTX’s accounting records and determine which assets could be sold. Sullivan & Cromwell’s fees for January were $16.8 million, while Quinn Emanuel Urquhart & Sullivan’s fees were $1.4 million and Landis Rath & Cobb’s fees were $663,995, according to court documents . The three law firms have more than 180 attorneys working on the case and more than 50 non-attorney staff (such as paralegals).In early February, Sullivan & Cromwell filed a $7.5 million bill for the first 19 days of business bankruptcy after FTX filed in November.

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2023-03-07 09:55:06 Rocket Pool Will Newly Upgrade Atlas To Compatible With Ethereum Shanghai Upgrade

According to the official blog, decentralized engagement protocol Rocket Pool has announced that it will perform the Atlas upgrade in early April, making the protocol compatible with Ethereum’s Shanghai upgrade. Rocket Pool is rolling out a beta on the Zhejiang testnet, intending to release Atlas to the Ethereum mainnet in late March or early April.

Rocket Pool has had two significant upgrades since becoming live on the mainnet, the first being Redstone, which made Rocket Pool compatible with The Merge and added some extra special features like the smoothing pool. Atlas is the second significant improvement after Redstone. Main functions after the upgrade include Solo Staker migration, Minipool queue ETH optimization, dynamic deposit pool limit, etc. Other parts include Minipool gas efficiency optimization and a reward system that automatically tracks the effective RPL rights of each node operator. Another critical function this upgrade will bring is the ability for existing validators using BLS withdrawal.

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2023-03-06 08:10:07 Binance Partners With Law Enforcement Agencies To Prevent Money Laundering

In an official statement on Binance blog, the largest cryptocurrency exchange has announced joint work with law enforcement agencies to prevent money laundering. The exchange started the campaign in Hong Kong. They worked with the local police force to craft a targeted crime prevention and warning message.

The project has received vital positive feedback from the community. With a small but impactful tweak, the exchange has achieved a marked improvement in safety without affecting the user experience. The positive action comes as Binance is under scrutiny from US law enforcement agencies who consider Binance to be a hotbed of illegal activities. The allegations claim that many of the tokens listed on the exchange are unregistered securities. Going forward, the exchange said it is looking to work with law enforcement agencies in other regions as it continues to promote its anti-fraud program.

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2023-03-05 07:24:02 Coinbase Acquires One River Digital Asset Management To Promote Retail Trading

One River Digital Asset Management (ORDAM) has been acquired by crypto exchange Coinbase, according to an announcement on Friday.Eric will continue to be the CEO/CIO of ORDAM (now CBAM) as well as the CEO/CIO of One River Asset Management, a separate and unaffiliated company. Eric has worked in the asset management profession for over 30 years.

One River Digital, a US Securities and Exchange Commission-registered subsidiary of One River Asset Management, will be renamed Coinbase Asset Management and will form the foundation of the exchange’s investment advisory service for institutional clients, according to a blog post published by the exchange on Friday. The deal’s details were not disclosed. One River Asset Management partnered with Coinbase at the beginning of the year to develop a platform for wealth managers to provide crypto exposure to their customers. According to the firm, it will now function as a standalone business.

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