Day: January 13, 2023

3 blockchain use cases far beyond crypto

Blockchain use cases have expanded far beyond cryptocurrency in the past years, with multiple industries embracing the technology in a wide range of fields, including healthcare, logistics, and financial services.  The hype has many reasons behind it. Blockchains are decentralized, transparent, and increase the capacity of a whole network, opening a window for solutions that require significant computational power. More importantly, it gives users the capacity to control their assets, including their data, without relying on third parties. As blockchain evolves, companies across the world are working to find the…

DCG’s ‘carefully crafted campaign of lies’?

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The monumental collapse of FTX didn’t just destroy a crypto exchange and wipe out billions in customer deposits — it also exposed accounting irregularities at Barry Silbert’s empire, the Digital Currency Group, or DCG. That’s according to Bitcoin (BTC) billionaire and Gemini co-founder Cameron Winklevoss. The FTX blow-up caused Genesis Global Trading, another DCG firm, to pause new loan originations and redemptions — a decision that directly affected Winklevoss’ Gemini Earn program. The pause on withdrawals has been active for nearly two months, prompting Winklevoss to pen two open letters…

There Will Be No Lessons Learned From FTX

So, we’re now in a less than ideal situation. Bad actors are undeterred by the lack of regulation, but good actors are. The result: Bad actors face far less competition. It’s not, thankfully, zero competition. There are quite a lot of good actors in this space, but due to absent regulatory clarity and standards even those players are having a hard time differentiating themselves from the bad guys. Every bad actor claims they’re audited, professionally run and take compliance seriously, and few end-users know enough to tell the truth from…

Web3 Studio Sortium Raises $7.8M in Seed Round

The funding was revealed in a filing with the U.S. Securities and Exchange Commission (SEC) and the details, including Arca’s participation, were confirmed by Sortium CEO Marc Seal in an interview with CoinDesk. Seal didn’t specify who the other investors were, but said the group included other crypto-native firms. Source

DeFi was the most attacked ecosystem in 2022: 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. The DeFi ecosystem started 2023 on a bullish note, similar to the broader cryptocurrency market. However, the bullish start to the year didn’t diminish the damage caused by vulnerabilities and attacks in 2022. A new research report has highlighted that DeFi was the most vulnerable crypto ecosystem, at the receiving end of 113 exploits out of the total 167. On top of that, blockchain…

Bulgarian authorities charge four individuals following raid on Nexo office: Report

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Less than 48 hours after a raid on cryptocurrency lender Nexo’s offices in the Bulgarian capital of Sofia, prosecutors have reportedly charged four people. According to a Jan. 13 report by Bloomberg, authorities charged four Bulgarian nationals with forming an organized crime group, which may have included activities related to money laundering and unlicensed banking. The country’s National Police Service reportedly seized a number of assets as part of the investigation, including cryptocurrency, cash, and computers. Following the Jan. 12 raid, Nexo described prosecutors’ actions as a “kick first, ask…

What is Chiliz (CHZ) Cryptocurrency?

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CHZ is a cryptocurrency that was created in 2019 as a fork of the Ethereum blockchain. It is an ERC-20 token, meaning that it is built on top of the Ethereum network and follows the Ethereum token standard. CHZ is the native token of the Chiliz platform, which is a sports and entertainment blockchain platform that allows fans to engage with their favorite sports teams and celebrities through tokenized experiences. One of the main goals of the Chiliz platform is to bring blockchain technology to the sports and entertainment industry…