DeFi & Ethereum News

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.

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

2022-09-01 08:35:03 Blockchain gaming company Xterio bags $40M led by FunPlus, FTX Ventures

Blockchain gaming company Xterio has raised $40 million to develop Web 3.0 game franchises, the startup announced on August 30. The funding was led by FTX Ventures, the venture capital arm of crypto exchange FTX, FunPlus, Makers Fund, and XPLA, the press release said.

Switzerland-headquartered FunPlus is a video game developer and publisher publishing games such as King of Avalon, State of Survival, and Guns of Glory. FunPlus provides Xterio with its technology stack. Xterio, on the other hand, is the exclusive partner of FunPlus to mint and deploy non-fungible tokens (NFTs) for all present and future FunPlus game titles. The funding round also saw participation from Animoca Brands, HashKey, Foresight Ventures, Infinity Ventures Crypto, and Matrix Partners.

Source

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

2022-08-31 07:56:02 Iran implements rules allowing businesses to use crypto for import trade transactions

Iran will allow any local business that imports goods to pay for their transactions via cryptocurrency in lieu of the dollar or euro. The administration of Iran has passed a set of regulations on trade transactions with cryptocurrencies, according to Reza Fatemi Amin, minister of industry, mines, and trade.

Amin made the announcement at an automotive industry exhibition in Tehran on August 29, where he noted that the new law defines regulations on cryptocurrencies, including how to supply fuel and energy for cryptocurrency mining and how to grant licenses. The minister said any imports of goods can be processed via cryptocurrency transactions instead of the dollar or euro under an agreement between the Ministry of Industry and the Central Bank of Iran.

Source

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

2022-08-30 06:57:02 Ava Labs CEO Responds to CryptoLeaks Report on Law Firm Deal ‘Conspiracy Theory Nonsense’

Ava Labs CEO Emin Gün Sirer has rejected a report from CryptoLeaks that makes several strong allegations. The report says that Ava Labs and law firm Roche Freedman struck a deal that saw Ava Labs stock and cryptocurrencies given in return for pursuing actions against crypto companies.

The CEO of Ava Labs, Emin Gün Sirer, has rejected a report from CryptoLeaks that the company had struck a deal with a law firm to actively damage companies in the industry. Sirer called the report “conspiracy theory nonsense” and “inflammatory.”. The CryptoLeaks report talks about Roche Freedman, a law firm that it says “widely sues people in crypto, currently running at least 25 class actions.”.

Source

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

2022-08-29 07:46:02 NearPay Brings Virtual Crypto Cards And A Wallet For iOS As Well As Android Users

NearPay a crypto finance protocol has now launched virtual crypto cards and a wallet for iOS and Android users. NearPay is now made available on all platforms which include the Web, iOS and Android. The platform lets its users buy digital assets using credit cards or even through a bank transfer.

The entire process of transacting has been made easier, as users can send, receive and exchange a digital asset without hassle. The finance protocol has attempted to bring a modern digital banking experience across the industry. Additionally, there is a provision to instantly use a virtual Visa debit card that allows one to spend digital assets for online purchases with an option to automatically convert crypto into fiat currency.

Source

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

2022-08-28 07:10:02 Coinbase Will List Ethereum PoW Token if It Meets Listing Criteria

Coinbase has said it will list any potential Ethereum proof of work token after the Merge as long as it meets its listing criteria. The publicly listed exchange made this known in an August 25 tweet, adding that it is fully committed to supporting the Ethereum network migration to a proof-of-stake network.

According to Coinbase, its “goal is to list every asset that is legal and safe to list.” Thus, the exchange will evaluate every ETH fork token after the merge “on a case by case basis in alignment with our standard asset listing policy.” It further assured customers that all potential forked Ethereum tokens would go through the same listing review process as any other asset on the exchange. Coinbase recently announced the launch of a utility token called Coinbase Wrapped Staked ETH (cbETH) for its users.

Source

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

2022-08-27 07:57:02 Animoca Tightens The Reigns in Japan With $45M Web 3-Focused Funding

Animoca Brands’ Japanese subsidiary, also known as – Animoca Brands KK – has raised $45 million. Its parent company, Animoca Brands Corporation Limited, and MUFG Bank, Ltd. (MUFG) led the investment. Promoting Web 3 adoption to multiple partners and ramping up the value and utility of their branded content while simultaneously boosting the NFT ecosystem in Japan are also some of the prime areas of focus.

The blockchain gaming powerhouse is strengthening its presence in one of the leading economies in Asia – Japan. According to the official blog post, the freshly raised capital will be deployed to secure licenses for well-known intellectual properties and build internal capabilities. The development comes as the Japanese government looks to reevaluate the crypto tax rules applicable for corporations in the 2023 financial year. The two crypto lobbying groups of the island country..

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2022-08-26 10:34:02 Ethereum staking deposits decline with over 70% stakers in loss

Market Analysts have tied the cause of the decline to the speculations of an Ethereum fork and fears about the Merge. With the Merge all but confirmed to happen before Sep. 20, the amount of new value staked Ethereum (ETH) on the beacon chain is at its lowest levels, with around 230 ETH deposited daily.

According to Glassnode data, the volume of Ethereum staked daily declined significantly in July and has yet to recover. The decline coincided with ETH’s price recovering from the record market crash in the second quarter following the collapse of Terra LUNA. The slowdown in ETH 2.0 stakes is even more evident in August, with the current weekly deposit at 162 ETH — the lowest to date. Glassnode data also showed that the number of new unique addresses depositing on ETH 2.0 was relatively low and muted.

Source

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

2022-08-25 07:50:01 SudoRare developers reap $815,000 from rug pulling project

Adding to the growing list of exploits, SudoRare developers have shut down operations after withdrawing $815,000 (519 ETH) from the AMM protocol. A Twitter user Sungjae flagged the rug pull after 173 ETH was transferred to 3 wallet addresses each. In a follow-up tweet, security firm PeckShield confirmed the rug pull and highlighted that the team had deleted all communications channels.

The developers withdrew over 1 million LOOKS from the LooksRare liquidity pool and swapped them for 154 ETHand 60,000 USDC. SudoRare attracted as much as $815,000 in its liquidity pool given it offered investors high-yield opportunity. Users who took the bait, could not reap their yield as the protocol disappeared in just six days of launch. Its been an unfortunate precedent for the crypto market, as each week records another rug pull using similar tactics.

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