Day: August 12, 2022

Curve Finance resolves site exploits, directs users to revoke recent contracts: Finance Redefined

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Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you significant developments over the last week. This past week, cross-bridge protocols became the center of DeFi discussions as a new report showed RenBridge was used to launder $540 million in stolen funds. Curve Finance, on the other hand, resolved its site exploit and directed users to revoke any recent contracts. Interlay, a London-based blockchain firm, launched a Bitcoin (BTC)-based cross-chain bridge on Polkadot named interBTC (iBTC), DeFi platform Oasis.app says…

An Alleged Tornado Cash Developer Was Arrested. Are You Next?

The situation gets dicier when you move beyond the act of writing. “Without commenting on Tornado Cash specifically, acts like providing help to someone who wants to use the code, uploading a mixing smart contract to a protocol or operating a web app which can hook into a user’s MetaMask wallet strays into potentially criminal territory,” Preston Byrne, a lawyer who specializes in cybercrime and crypto, told Motherboard this week. Source

New Findings Shows Institutional Investors Take More Interest In Ethereum

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As the launching of the long-awaited Ethereum upgrade, Merge, approaches, there’s a spike in institutional investment. Ethereum products are receiving more attention from big-shot investors. Though there is no stated period for the Merge, most developers anticipate the upgrade by September 19. However, most Ethereum derivatives are getting more investment deals as the final phase details are revealed. James Butterfill, the Head of Research of CoinShares, stated that investors’ sentiment for Ethereum products is changing. Butterfill made this known in the latest edition of Digital Asset Fund Flows Weekly Report.…

Bitcoin’s Mathematical Monetary Policy Is Far More Predictable Than Gold and Fiat Currencies – Economics Bitcoin News

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This past April, records show that 19 million bitcoins have been mined into existence and 133 days later, there are 1.88 million bitcoins left to mint today. The network’s block subsidy halving is expected to occur on or around April 20, 2024, as there are less than 91,000 bitcoins left to mine until that point. While Bitcoin’s inflation rate per annum is 1.73% today, after the halving in 2024, the crypto asset’s yearly inflation rate will be down to 1.1%. The Institute of Mathematics: ‘Bitcoin Can Only Function Because of…

A Futurist take on crypto

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You might not know it, but Canada is quietly becoming a major player in the blockchain and crypto scene: Ethereum has strong Canadian roots, Toronto-based 3iQ launched North America’s first physically-settled Bitcoin (BTC) exchange-traded fund (ETF) and the percentage of active crypto holders in the country has increased steadily over the past two years.  Against this backdrop, I had the pleasure of attending this year’s Blockchain Futurist Conference in Toronto, where I got to moderate two panels on rebuilding the financial system through Web3 and onboarding the next wave of crypto…

What Bear Market? Canada’s Largest Blockchain Conference Beamed With Bullish Energy

“For the first time in a long time, people were inspired again,” said Greg Gopman, chief marketing officer of crypto infrastructure provider Ankr, who was at the event. “Maybe it was Vitalik showing up. Maybe it’s news of the Merge nearing reality. Or maybe it was just the beautiful indoor/outdoor venue during two perfect Toronto summer days – but for the first time in a while, things felt bullish again,” he said. Source link

Whales With 1k-10k BTC Depositing To Exchanges

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On-chain data shows Bitcoin exchange inflows from whales holding between 1k to 10k BTC have spiked up recently, a sign that can be bearish for the price of the crypto. Bitcoin Exchange Inflows Spike Up Following Rally Above $24k As pointed out by a CryptoQuant post, the BTC whales with between 1k to 10k BTC seem to have sent a large stack to exchanges recently. The “exchange inflow” is an indicator that measures the total amount of Bitcoin being transferred to wallets of all centralized exchanges (both spot and derivatives).…

Embattled Crypto Futures Exchange Files for Restructuring Amid Ongoing Legal Battle

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Crypto futures exchange CoinFLEX is reportedly seeking court approval for a restructuring plan as it faces financial trouble following a substantial default by one of its customers. Citing an email sent to CoinFLEX creditors on August 9th, Fortune reports that the embattled firm filed to the Seychelles Supreme Court an application for the reorganization and restructuring of the company. CoinFLEX issues the notice in compliance with a court order and as prescribed by the IBC Act, Seychelles’ law governing international business companies (IBCs). “Notice is given to the creditors of…

Uzbekistan blocks access to foreign crypto exchanges over unregistered trading

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The government of Uzbekistan, which has previously made significant steps toward a moderate approach to crypto, announced Wednesday that it has restricted access to a number of large international crypto exchanges due to accusations of unlicensed activity.  In a statement from Aug. 10, the National Agency of Perspective Projects (NAPP) projects informed that “various electronic platforms” provide services for trade and exchange of crypto-assets without obtaining the required license in violation of the existing legislation and thus access to them was restricted. However, the tone of the statement suggested that…