Day: January 4, 2022

‘We are 50% of the way there,’ says Vitalik on Ethereum’s development

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Vitalik Buterin has walked listeners through a five-part roadmap on the latest Bankless podcast where he outlined the necessary steps for Ethereum to survive and thrive. In order to achieve ultimate scalability and decentralization, Butalik claimed that Ethereum needs to be more agile and more lightweight in terms of blockchain data so that more people can manage and use it. At the beginning of December, Buterin also published an article titled “Endgame” where he makes the case that all blockchains will ultimately converge in the future, while listing the tools that…

Exchange Token Soars 28% After Crypto Giant Binance Announces Eight-Figure Investment

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One exchange altcoin is enjoying big intraday gains after a sizeable long-term investment from crypto behemoth Binance. Today, Binance Labs announced a $12,000,000 investment in the WOO Network (WOO). “Binance Labs invested $12 million in WOO Network as the two parties expand their long-standing relationship. The investment will support WOO Network’s rapid expansion through talent acquisition, research and development, and the development of new decentralized products.” Binance Lab’s eight-figure investment in the liquidity provider follows WOO’s $30,000,000 fundraising round in November 2021. “WOO Network’s Series A+ fundraising round comes on the heels…

Estonia Clarifies Upcoming Regulations, Will Not Ban Crypto Holding or Trading – Regulation Bitcoin News

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The government of Estonia has approved legislation tailored to improve oversight of its crypto sector which expanded rapidly due to favorable regulations and business climate. The new law, which is yet to be adopted, will introduce stricter requirements for service providers without preventing their clients from owning or exchanging cryptocurrencies. Authorities in Tallinn Draft Stricter Rules for Crypto Service Providers The executive power in Estonia has prepared and approved draft legislation designed “to more effectively regulate virtual asset service providers (VASPs).” The main goal, the Finance Ministry explained on Sunday,…

CoinDesk Joins Court Case Seeking Access to NYAG Tether Documents

Chiefly, CoinDesk argued in court papers that disclosing what, specifically, is backing the USDT stablecoin issued by Tether is in the public interest, and therefore should not qualify as a trade secret. Tether itself claimed it had proactively made the decision to publicize its reserve breakdown when announcing its settlement with the NYAG. Source

Cion Digital secures funds to expand blockchain orchestration platform

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Cion Digital, a developer for an enterprise SaaS blockchain orchestration platform, announced on Tuesday that it had closed out its recent seed funding round at $12 million. The round was overseen by Green Visor Capital and 645 Ventures who have since joined Cion Digital’s board of directors. Additionally, Cota Capital, Epic Ventures, Hourglass Capital Partners, BAT Ventures, Greycroft and Ulu Ventures were also participants.  Following the raise, the company said that it intends to allocate these funds toward its new resource and development center in Pune, India in an effort…

La Web 3.0 es demasiado complicada

Uno de los objetivos y beneficios más importantes de la revolución de la Web 3.0 es que los ecosistemas informáticos del mundo se vuelvan a descentralizar. Internet, cuando nació, era un sistema altamente descentralizado. Pero con el paso del tiempo los sistemas centralizados se impusieron con mucho éxito por sobre este ecosistema descentralizado. La economía del sector del software y el poder de los efectos de la red son los cimientos de la centralización de la Web 2.0, a la que contribuye también el uso liberal de patrones oscuros sobre…

Market Wrap: Bitcoin Gains May Be Limited in January, Altcoins Outperform

Bitcoin (BTC) was roughly flat over the past 24 hours as trading volume continued to decline. Still, some alternative cryptocurrencies (altcoins) outperformed BTC on Tuesday. Internet Computer’s ICP token was up about 20% over the past 24 hours, and Chainlink’s LINK token was up about 4% over the same period. Meanwhile, technical indicators suggest a brief price bounce in BTC could occur if buyers are able to defend a daily close above $47,000. Some traders appear to be optimistic as leverage as open interest in the BTC perpetual futures market,…

Illuvium Team Drains sILV Uniswap Pool in Bid to Prevent Exploit Cash-Out

Warwick added on Discord that the team has “a backstop multisig that is able to mint in extreme circumstances.” The team used this multi-signature wallet, an address with specific in-protocol permissions that needs a majority of a group of signers to execute transactions, to mint tokens and sell them for ETH, rendering sILV worthless, as there is no ETH to swap the sILV for. Source

Defi TVL Jumps 12% Since Mid-December, Close to $25B in Bridges, Convex Gains on Curve’s Dominance – Defi Bitcoin News

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The total value locked (TVL) in decentralized finance (defi) has risen 4% during the first four days of the new year from $245 billion on January 1, to $255.84 billion three days later. While the defi protocol Curve Finance dominates with a TVL of $24.44 billion, Convex Finance is closing in on the dominance with $21.27 billion. Meanwhile, out of several blockchains, Ethereum dominates the defi TVL with 62.91% or $160.96 billion out of the aggregate $255.84 billion locked today. Defi TVL Increases 4% During the First 4 Days of…

Ribbon Finance gains 60% after V2 launch and Avalanche integration

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Decentralized finance (DeFi) was one of the breakout sectors of the cryptocurrency market in 2021 and stands poised to continue to facilitate the mass adoption of cryptocurrency in 2022. This comes as institutional and retail investors embrace the emergence of Finance 2.0.  One DeFi project that has kicked off the year with a bullish start is Ribbon Finance (RBN), a protocol that utilizes financial engineering to create structured products such as automated options strategies. These are designed to provide users with sustainable yields over time. Data from Cointelegraph Markets Pro…