Day: September 7, 2020

Revolut Loses Key Official, Set to Hire Two Executives from Amazon

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Revolut has experienced the exodus of staff and officials since the coronavirus pandemic struck. Besides the 62 redundancies that the company announced earlier in the year, the company fired more than 50 of its employees.  Major UK-based challenger bank Revolut is set to hire two executives from e-commerce giant Amazon.com Inc (NASDAQ: AMZN) after the exit of its Head of Regulatory Compliance official Chris Sing. Per TechCrunch’s report, Chris Sing who joined Revolut bank barely two years ago will be joining Barclays as its new chief of staff to the…

Samsung Signs $6.6B Deal with Verizon to Supply Network Equipment

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Samsung recently won a $6.64 billion order from Verizon to provide network solutions. The win will help Samsung expand services to more countries. Samsung Electronics Co Ltd (KRX: 005930) recently won a $6.6 billion order from Verizon Communications Inc (NYSE: VZ). With this new development, the electronic company will provide wireless communications solutions to Verizon in the U.S. On Monday, Samsung unveiled its latest win with Verizon, which will help the electronics company’s growth in the 5G network market. Samsung Seals $6.6 Billion Deal with Verizon An analyst at Cape Investment and…

How to provide liquidity to cryptocurrency exchange

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A trading venue’s liquidity represents how easily a trader can use the platform to exchange one asset for another. If a trader sends a market order to buy or sell an asset and the venue can’t find enough buy or sell orders to complete the transaction at a reasonable price, the venue is likely struggling with low liquidity — and the trader is likely to take their future business elsewhere.  Venues that provide adequate liquidity and competitive market pricing tend to experience a rewarding cycle, with traders who find their…

Bitcoin price hits $9.8K as quest to fill futures gap sees 6-week lows

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Bitcoin (BTC) hit fresh lows on Sep. 7 as renewed selling pressure saw the largest cryptocurrency return to the $9,800 range. Cryptocurrency market daily snapshot, Sep. 7. Source: Coin360 Analyst eyes BTC price bottom at futures gap Data from Coin360 and Cointelegraph Markets showed more trouble for BTC/USD on Monday, the pair hitting $9,880 — its lowest since July 26. BTC/USD 1-day price chart. Source: Coin360 After mixed performance over the weekend, $10,000 looked increasingly shaky support, something that analysts warn could be pivotal in the short-term. Discussing the current…

DeFi Project SushiSwap Gets New Management amid Sell-off by Founder

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SUSHI token is a rising star that represents up to 77% of daily trading volume on Uniswap as of September 1st. DeFi project SushiSwap, dubbed as the next step forward in the Uniswap protocol design, has experienced a ton of activities in less than a month since its inception. However, in a controversial business operation, the project is under new management, FTX CEO, Sam Bankman-Fried, who now holds the keys hence rejuvenating lost investors hope. Notably, after the announcement, the SUSHI coin tripled in value in a matter of a…

Ethereum Whales Buying the Dip But Could It Point to Another Rally?

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As small traders sold off their Ethereum positions, the large ones preferred to buy them for cheap. At least that is what the latest Santiment charts showed. The trading sentiment tool found that the number of wallets holding between 1,000 and 10,000 surged, while Ethereum prices were going down. Santiment data shows the number of “whales” is on the rise as ETH/USD plunges The cross-referencable data pointed towards accumulation behavior among traders with higher capital exposure in the Ethereum market. They purchased ETH positions when the asset was trading at its…

Dev finds major governance bug in SushiSwap, but no threat to the project yet

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SushiSwap appears to be vulnerable from a sneaky bug that could multiply someone’s governance power without having to acquire new tokens. Reported by developer Jong Seok Park on Sept. 7, the bug can be described as a governance double-spend. In essence, SushiSwap governance lets token holders delegate their voting power to another entity. However, if that token holder then transfers the tokens to someone else, the delegatee still maintains their governance power. The second token holder can now delegate tokens once again, multiplying the delegatee’s power by as much as…