Day: January 19, 2023

Aussie Bank Mints Stablecoin AUDN on Ethereum and Algorand Blockchains

NAB chief innovation officer Howard Silby said the decision to mint the AUDN stablecoin, which is backed 1:1 by the Australian dollar (AUD), was based on the bank’s belief that blockchain infrastructure will play a key role in the new evolution of finance. The National Australia Bank (NAB), one of the central banks in Australia, has launched a stablecoin named AUDN. The stablecoin is all set to be launched in the middle of this year, according to the Australian Financial Review (AFR) report. NAB will go on to become the…

Ripple Boss Speaks about Prolonged SEC Battle at WEF

The Ripple boss hinted some optimism, stating that there may finally be a resolution to its legal battle with the SEC. While Ripple remains entangled in its legal battle, the company’s CEO Brad Garlinghouse recently mentioned some emails from the Security and Exchange Commission (SEC) while speaking at the World Economic Forum (WEF). The event in Davos recorded many industry leaders and government officials in attendance, discussing different topics across multiple sectors. Ripple Boss on SEC Case at 2023 WEF The emails came specifically from SEC Director Bill Hinman. Speaking…

Cosmos DEX Osmosis to Make Cross-Chain Trades More Efficient With Neon Upgrade

One of the key features of the upgrade is the implementation of geometric TWAP (Time Weighted Average Pricing) in Osmosis liquidity pools. In finance, a TWAP is the average price of an asset over a specified time. A TWAP strategy is often used to minimize a large order’s impact on the market by dispersing the large order into smaller quantities and executing them at regular intervals over time, as per Binance. Source

Raydium exploiter moves $2.7M to crypto mixer Tornado Cash

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In an alert, blockchain security firm CertiK reported that the Raydium protocol exploiter had sent 1,774.5 Ether (ETH) to the mixer. The amount is worth around $2.7 million at the time of writing. While security teams from various exchanges continue to combat the efforts of hackers, funds continue to flow to the sanctioned cryptocurrency mixer Tornado Cash.  #CertiKSkynetAlert We are seeing ~1,774.5 ETH (~$2.7M) being deposited into @TornadoCash from the Raydium exploiter 0xb98ac as labeled on https://t.co/lb2v6r8c4s. Stay vigilant! pic.twitter.com/JVqWAw9MVO — CertiK Alert (@CertiKAlert) January 19, 2023 The attack on…

Blog: Addressing concerns on the use of AI by local authorities

A blog by Stephen Bonner, Deputy Commissioner – Regulatory Supervision 19 January 2023 So many of people’s interactions with the government, both local and central, involve us handing over data about ourselves. This could be as simple as our name or date of birth, or as personal as our financial history or health information. People should feel confident that this data is handled appropriately, lawfully, and fairly. This should especially be the case when accessing welfare or social support, where an individual may be at their most vulnerable. They should…

Bitcoin can pass $30K before setting new bear market low — forecast

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Bitcoin (BTC) may gain another 50% before seeing a mass sell-off to complete its bear market, new research predicts. In the latest edition of its regular markets newsletter, “The Crypto Circular,” trading firm QCP Capital delivered a grim warning to those who believe that crypto winter is over. Research warns of “final Wave 5 selloff” Bitcoin has surprised by retaining new support levels abruptly reclaimed in its week-long bull run, so far topping out at $21,650. Despite widespread suspicion over the “choreographed” move, BTC/USD has nonetheless clawed back key trend…

CFTC Commissioner Says Crypto Exchanges Should Not Self-Certify Tokens

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Congress has been urged by a commissioner of the US Commodity Futures Trading Commission (CFTC) to stop enabling cryptocurrency exchanges to “self-certify” and list tokens without regulation. At a University of Pennsylvania lecture on FTX on January 18, CFTC commissioner Christy Goldsmith Romero informed the audience that the current procedure was not sufficient to assure adequate regulations. “It is critical to institute guardrails against regulatory arbitrage, and that includes prohibiting the use of the self-certification process,” said Goldsmith Romero. The abrupt shutdown of the cryptocurrency exchange FTX in November has increased…

Ethereum’s transition to proof-of-stake | Blockchain News

ssv.network, a provider of validator infrastructure, has announced the introduction of a new ecosystem fund to assist Ethereum proof-of-stake decentralisation. The business said that this step will foster innovation around Ether (ETH) staking technology. The business made the announcement on January 19 about the ecosystem fund, which has a value of fifty million dollars and would help companies creating apps employing distributed validator technology, or DVT. The primary purpose of the fund is to provide financial support for DVT use cases that contribute to Ethereum’s efforts to decentralise the platform…

ConsenSys to Lay Off 97 People, CEO Joseph Lubin Praises DeFi over CeFi

The Consensys CEO lashed out at CeFi companies stating that the recent events have exposed their ill behavior and further opened the gates for DeFi to flourish. In the latest development, blockchain engineering firm ConsenSys CEO Joseph Lubin announced that the company will be cutting 97 jobs this year. This comes as some of the biggest tech giants are laying off employees amid an uncertain macro environment. In his latest blog post, Lubin wrote: “Today we need to make the extremely difficult decision to streamline some of ConsenSys’ teams to…