Bitcoin Industry

2022-09-28 16:00:08 Affyn will become the NUMBER 1 blockchain metaverse in the entire industry. Can’t wait for their upcoming BIG UNVEILS in 2 Days!

TELEGRAM:
https://t.me/affynofficial/ Open / Comment

2022-09-27 20:00:05 ​​MEVbots backdoor drains users’ Ethereum funds via arbitrage trading bot.

An investigation of MEVbots’ contract revealed a backdoor that allows the creators to drain Ether from its users’ wallets.

MEV gain, an Ethereum arbitrage trading bot built by MEVbots, which claims to provide stress-free passive income, has been actively draining its users’ funds via a fund-stealing backdoor.

Arbitrage bots are programs that automate trading for profits based on historical market information. An investigation of MEVbots’ contract revealed a backdoor that allows the creators to drain Ether (ETH) from its users’ wallets.

The scam was first pointed out by Crypto Twitter’s monkwithchaos and later confirmed by blockchain investigator Peckshield.

Following the revelation, primary promoter of MEV chemzyeth disappeared from the internet.

Peckshield further confirmed that at least six users had fallen victim to the backdoor attack.

However, considering that the contract is still active, at least 13,000 unwary followers of MEVbots on Twitter remain at risk of losing their funds.

Carrying forward the success of scalability-focused layer-2 solutions, Ethereum co-founder Vitalik Buterin shared his vision for layer-3 protocols. He stated:

“A three-layer scaling architecture that consists of stacking the same scaling scheme on top of itself generally does not work well. Rollups on top of rollups, where the two layers of rollups use the same technology, certainly do not.”

One of the use cases for layer-3 protocols, according to Buterin, is “customized functionality” — aimed at privacy-based applications which would utilize zk proofs to submit privacy-preserving transactions to layer 2. Open / Comment

2022-09-24 20:00:05 ​​Coinbase counters WSJ claim its Risk Solutions group engaged in $100M proprietary trade.

In a blog post, Coinbase said the WSJ seemed to confuse the nature of a transaction earlier this year made using money raised through a structured note that was later sold.

The Wall Street Journal and Coinbase are having a difference in definitions. The newspaper published an alleged account of the digital asset exchange’s trading activities earlier this year that it claims amount to proprietary trading. Coinbase responded in a blog post that it had done no such thing.

Relying on information supplied by “people at the company,” the WSJ wrote on Thursday that Coinbase made a $100-million transaction that was viewed inside the company as a test trade by the company’s Risk Solutions group, which had been formed for the purpose of proprietary trading. Proprietary trading is the practice by banks and financial institutions of trading their own money for their own gain, rather than doing so to earn a commission from a client.

It would not have been illegal for Coinbase to engage in proprietary trading, the WSJ noted, but it could still be a matter of concern. An institution could trade against the interests of its clients, for example. Coinbase said in its blog post that “Coinbase does not operate a proprietary trading business or act as a market maker,” although “many of our competitors” do engage in proprietary trading.” The blog post stated:

“The Wall Street Journal published an article highlighting client-driven activities, which they seem to confuse with proprietary trading.”

The source of the controversy is the testimony given by Alesia Hass, CEO of Coinbase’s U.S. subsidiary and chief financial officer of Coinbase Global, before the United States House of Representatives Committee on Financial Services on Dec. 8, 2012, in which she stated, as quoted in the WSJ, “We do not engage in proprietary trading on our platform.”

Coinbase made the $100-million transaction in question using money raised through a structured note that was sold to Invesco Ltd. at a fixed-rate of 4.01%, the WSJ wrote. Invesco confirmed to the newspaper that the transaction has taken place. Open / Comment

2022-09-24 18:00:06 ​ You've never seen stability so stable!

Allbridge, the multichain hub, is expanding its stablecoin options on the Waves blockchain, while an instant exchange service Swop.fi is opening multi-pools for investing!

Each multipool consists of differently flavored USDT or USDC stablecoins: Allbridge-wrapped tokens from Ethereum, Polygon, Binance Smart Chain and a traditional Waves-based coins. 4x stability for your investments!

For early liquidity providers, Swop.fi is offering an exclusive reward in USDT from September 26 to October 15: ~100% APR at target TVL, in addition to commission income. On top of that, multi-pools will begin farming SWOP governance tokens starting October 3.

See our article for details on multi-pool mechanics.

Choose your multi-pool or add liquidity to both!

Telegram | Twitter Open / Comment

2022-09-21 20:30:00 ​​Solana outperforms Ethereum in daily transactions in Q2: Nansen report.

Daily transactions in the Solana blockchain consistently increased, ending with more than 40 million daily transactions compared to Ethereum’s 1 million daily transactions between April and June.

Hype does not always equate to greater adoption, as the on-chain data from the second quarter of 2022 shows Solana (SOL) surpassing Ethereum in users’ daily transactions despite various drawbacks from both macroeconomic conditions and network outages.

Throughout the second quarter, Solana’s daily transactions consistently increased, ending with more than 40 million daily transactions compared to Ethereum’s 1 million daily transactions between April and June, confirmed Nansen’s State of the Quarter Report.

Solana’s significant increase in daily transactions was observed on daily non-vote transactions when compared to Ethereum — despite sporting higher volatility. On-chain data revealed that decentralized exchanges (DEXs) such as Mango Markets and Serum and Solana-based decentralized oracle network Switchboard were among the top decentralized apps (DApps) contributing to the spike in daily transactions.

When considering vote transactions, Solana recorded a range of roughly 100 million to 200 million transactions per day, which was supported by a spike in the total number of wallets — from around 400,000 wallets to nearly 1 million toward the end of May 2022.

Solana’s explosive growth can be attributed to a series of funding from mid-2022 made to support the GameFi, decentralized finance (DeFi) and nonfungible token (NFT) ecosystems.

On an end note, Mega Septiandara, a research analyst at Nansen, stated that “Whether it’s the establishment of the Korea grant and investment fund, or the numerous upcoming events that welcome new builders and users, the Solana ecosystem is thriving.”

A recent governance proposal from October 2022 highlighted the possibility of Helium, an Internet of Things (IoT) blockchain network, transitioning to Solana.

As Cointelegraph reported, Helium developers recommended the shift to “improve operational efficiency and scalability.” Open / Comment

2022-09-20 18:40:00 ​Crypto market maker Wintermute has been hacked with over $160,000,000 stolen.

CEO of another maket maker GotBit gave us the comment about this situation:
"We clearly understand that Wintermute's outdated MM business model led to such a collapse. Founders in crypto should think that giving a large value of tokens to ONE Market Maker wallet under management is a road to nowhere. Moreover, management in a similar centralized way is carried out both on the CEX and on the DEX. Why won't Social Engineering allow CEX to be hacked tomorrow and withdraw the other half of Wintermute funds? The future lies with distributed MMs that DO NOT TAKE control of their funds from their clients.

Web3 has always had an atmosphere of cooperation and mutual assistance!
We at Gotbit are ready to help Wintermute customers get out of a difficult situation after a series of dumps on DEX and CEX." Open / Comment

2022-09-18 20:00:05 ​​Ex-Citadel execs raise $50M for high-frequency crypto trading platform.

Portofino’s backers believe that access to high-frequency trading, or HFT, could bring more hedge funds and institutional investors into crypto.

Cryptocurrency startup Portofino Technologies has officially launched its high-frequency trading platform for digital assets, securing major funding from venture capital firms in the process.

In launching its platform, Portofino disclosed that it had raised $50 million in equity funding from Valar Ventures, Global Founders Capital and Coatue. Although Portofino didn’t disclose how the funding will be used, the company has been active on the hiring front, having recruited over 35 employees across 5 global locations.

Portofino was founded in 2021 by former Citadel Securities employees Alex Casimo and Leonard Lancia. The company is building crypto-focused high-frequency trading technology, which is mainly used by hedge funds. While the company is only now coming out of stealth mode, it claims to have traded billions of dollars across centralized and decentralized crypto exchanges.

High-frequency trading, or HFT, refers to automated trading platforms that are typically used by large financial institutions to execute large batches of orders at extremely high speeds. These platforms rely on complex algorithms to analyze market trends and trading opportunities that can be executed in seconds.

On the crypto front, HFT strategies can now be executed on decentralized exchanges, or DEXs. Unlike centralized exchanges, DEXs offer much faster trading speeds and new arbitrage opportunities. Portofino’s HFT technology is looking to build on these capabilities by increasing access to liquidity.

Hedge funds and other institutional investors have shown a keen interest in cryptocurrencies, but overall adoption has been slow due to several factors, including regulations and a lack of infrastructure. As the head of crypto investment manager Apollo Capital told Cointelegraph:

“No one wants to be the first into something like this. Because if you’re the first one and things go wrong, then there’s a career risk. That will flip at some point to the opposite.” Open / Comment

2022-09-15 22:00:02 ​ Battle Infinity Is Now Listed On PancakeSwap, LBank & CoinMarketCap - With Huge 7X Price Pump!

With further listings on Coin98Exchange and Gate.io, IBAT is cementing itself as one of the best new cryptocurrencies to buy in September 2022.

Fill Your Bags With $IBAT & Become A Holder Of A Token That Sold Out Its Pre-Sale 65 Days Early & Raised 16500 BNB, And Is Expected To Continue Rocketing!

Battle Infinity Has Also Seen A 700% Gain From Presale Price Since Its Listing On PancakeSwap. Don't Miss This Bear Market Opportunity!

You Don’t Want To Miss Out On This Gaming Revolution With Battle Infinity. A P2E NFT Gaming Platform For Creators & Gamers.

Battle Infinity has also recently announced that Battle Infinity staking would be live soon.

This Staking feature will be live on the 24th of September, 16:00 UTC. Once live, investors can conduct solo staking activities on the Battle Stake site to accumulate interest in IBAT.

That's Right- IBAT holders will now have the opportunity to earn a high yield on their tokens. IBAT Battle Stake gives holders the chance to lock up their tokens for a certain amount of time, and in exchange, they are entitled to rewards.

Duo staking options also allow traders to earn interest on IBAT against the value of other tokens.

Don't Miss Out! Now Is An Opportunity To Buy A Token With A Huge Community And A Great Platform, With The Backing Of The Largest Crypto Marketing Agency Globally

TOKEN INFO:
Current Price On LBANK -$0.003601
Trading Pair: IBAT/BNB
Battle Infinity is a new metaverse platform with play-to-earn (P2E) mechanics.
Built-in fantasy sports league with NFT integration
BAT has a total token supply of 10 billion
$IBAT is also liquidity locked (1-year Lockup)
IBAT rocked to over 5x the listing price after launch and is currently sitting at over 3x
Yes-More Exchange Listings On The Way (So Don't Miss Out!)
Rug-pull protected - KYC’d on Coinsniper


Buy IBAT NOW Open / Comment

2022-09-15 21:00:03 ​​Huobi to delist Monero and other privacy coins, citing regulatory pressures.

The exchange cited its own token management policy and compliance efforts as primary reasons for delisting seven privacy coins.

Cryptocurrency exchange Huobi will delist seven different privacy coins from its platform as regulatory pressure mounts on anonymity-enhanced currencies (AECs).

The exchange announced that it had terminated the trading service of a number of privacy tokens including Dash (DSH), Decred (DCR), Firo (FIRO), Monero (XMR), Verge (XVG), Zcash (ZEC) and Horizen (ZEN).

These tokens will begin to be delisted on Sept. 19, while deposit services ceased on Monday in conjunctio with the announcement. Users were urged to cancel open orders for the privacy coins, while the exchange will cancel any existing orders at the delisting time and credit users' spot accounts.

Huobi noted that it made efforts to meet compliance policies of more than 100 countries in which its services are available. The announcement cited efforts to comply with the latest financial regulations, as well as the company’s Token Management Rules.

Article 17(16) of its rules list addresses "trading concealment or suspension," which gives Huobi Global the right to conceal or suspend token trading in the following circumstances. Clause 16 is directed at privacy coins in particular:

“The token is a privacy token, does not support offline signatures, or its node source codes are not open-sourced.”

The exchange also confirmed that it had ended trading services on its futures, margin, ETP, OTC and trading bot services. Cointelegraph has reached out to Huobi Global to ascertain the driving force behind the move and whether regulators in specific countries have necessitated the delisting of the respective privacy coins.

Huobi is eyeing a move into the United States market after acquiring a Money Services Business (MSB) license from the U.S. Financial Crimes Enforcement Network (FinCEN) in July 2022.

As Cointelegraph previously reported, privacy tokens have come under intense scrutiny in different jurisdictions around the world, with the likes of Japanese, South Korean and Australian regulators outlawing their use in recent years. Open / Comment

2022-09-15 19:00:07 ​Ambrosus Launches New Company Offering User-Friendly Web3 Products

Ambrosus Ecosystem, a company that specializes in supply chain and DeFi solutions built on its unique EVM-compatible Layer-1, announces the launch of its new company and official website, www.airdao.io.

With easy-to-navigate design, AirDAO is an intuitive dashboard for decentralized finance built on the Ambrosus blockchain.

“Innovation leads to world-changing technology. The technology is changing at breakneck speed—faster than we can keep up. Discrepancy between products and users is a gap we aim to bridge, to empower the freedom of interactions. We have united our direction, teams and products,” says Lang Mei, founder of AirDAO.

To reinforce this integrated approach, AirDAO is the first Layer-1 to be governed by a Decentralized Autonomous Organization, where community and team members collaborate in new ways.

Telegram | Twitter Open / Comment