FTX US, the sources said, would pay an additional $25 million if, by Dec. 31, BlockFi wins an important regulatory clearance from the U.S. Securities and Exchange Commission for BlockFi Yield, a product that would generate interest on depositors’ crypto by lending the crypto out at a higher rate. Source
The hype around the Ethereum network had built up following the announcement that the Merge was scheduled to take place on September 15th if everything went according to plan. The price of ETH had seen a massive run-up off the back of the news, seeing it touch above $2,000, albeit briefly. However, as the weeks have passed, the hype around the Merge has begun to die down as people get used to it, causing the price of ETH to slide. ETH Slides To $1,500 After a tremendous 3-week run, the…
press release SINGAPORE — 8 July 2022 — TOKEN2049, Asia’s premier crypto conference, has announced a new batch of title sponsors and speakers for its upcoming Singapore edition which will be running from 28 to 29 September. This year marks the conference’s Singapore debut, making for a thrilling week of activities as some of the world’s most pioneering projects gather at what’s set to be the crypto industry’s first major in-person event in Asia ahead of the Formula 1 Singapore Grand Prix 2022 race weekend. In recognition of growing excitement…
Changpeng Zhao (CZ), CEO of Binance, says that there is a crypto exchange that may be employing poor standards in its trading platform. CZ tells his 6.8 million Twitter followers that he recently learned the term “jitters,” which refers to a lag on trading platforms between when an order is placed and when it is executed. Sometimes, while an order is delayed, other orders are able to jump the queue and front-run them, though it’s not clear whether this is intentional or not. “Just learned a new word, jitters. On…
Still, there are risks to the trade. First, Ethereum’s Merge could be delayed – which would send a “negative signal” to the markets, at least in the short term, Talanti said. Then there’s the prospect that something could go wildly wrong during or after deployment, a risk that’s hard to calculate given all the moving parts that could break. (Ethereum upgrades have been delayed before, and several times.) Source
Chinese tech giant Tencent, the owner of the Chinese instant messaging platform WeChat, has revealed that it has been granted a patent for using blockchain technology for person-seeking notices, according to local media outlets. The purpose of developing tracing missing individuals is to facilitate the search for missing persons’ efficiency and improve the traceability of data. According to the company, it has taken more than three years for the patent application to be approved since it was first filed in December 2019. The patent indicates that blockchain technology will be…
Crypto Funds See Minor Outflows Amid Trading Volume Dip: CoinShares Source
According to a new post by Acala Network co-founder Bette Chen, the community has voted to burn 2.97 billion worth of Acala USD (aUSD) stablecoin. Acala is a decentralized finance platform built on the Polkadot (DOT) ecosystem. The week prior, the price of aUSD fell to less than $0.01 from its dollar peg after it was discovered that 3.022 billion aUSD had been erroneously minted through a misconfiguration of the iBTC/aUSD liquidity pool, which went live on August 14. The misconfiguration has since been rectified, and wallet addresses that had…
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Alex Stokes, a researcher working on the Merge with the Ethereum Foundation, told CoinDesk that the upgrade isn’t that significant but it can be used as an identifier to help with peer discovery, or finding other nodes in the network. He also said that, ultimately, developers just want the upgrade to go well. They will “do something similar on other networks, but ultimately it will have similarly low fanfare.” Source