Day: February 1, 2023

MakerDAO launches $5M legal defense fund

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According to a new social post on Feb. 1, Maker decentralized autonomous organization, or MakerDAO, has approved the creation of a new fund dedicated to expenses related to legal defense.  MakerDAO is the issuer of the DAI United States dollar stablecoin. As told by developers, Maker will allocate 5 million DAI to “reimburse legal defense expenses in case of legal or regulatory action against specific participants of MakerDAO.” The post further explained: “Initially, the coverage will be provided to Recognized Delegates, Core Unit Facilitators, Core Unit permanent contributors, and active…

Binance’s New Blockchain Platform Aims to Build Web3 Infrastructure

In its recently published BNB Greenfield white paper, the cryptocurrency exchange Binance stated that it is interested in constructing a blockchain-based Web3 infrastructure. BNB Chain is a blockchain platform that was established by Binance. According to the white paper, it is a decentralised storage infrastructure that is integrated into BNB Chain. This infrastructure grants users and decentralised applications (DApps) complete control of the data stored inside it. Hosting websites, maintaining personal clouds and data archives, publishing, and other applications are all examples of possible use cases. The core team at…

US Blacklists Bitcoin, Ether Addresses Tied to Russian Sanctions Evasion Efforts

“As part of these efforts, Igor and Jonatan Zimenkov both had direct correspondence with sanctioned Russian defense firms,” an OFAC press release said. “They have additionally been involved in multiple deals for Russian cybersecurity and helicopter sales abroad and have engaged directly with Rosoboroneksport’s potential clients to enable sales of Russian defense materiel.” Source

LTC Races to 9-Month High, ATOM Extends Recent Gains – Market Updates Bitcoin News

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Litecoin raced to a nine-month high on Feb. 1, following a breakout of a key resistance level. The surge in price comes as the global cryptocurrency market cap rose marginally higher today, and is up by 0.57% as of writing. Cosmos was another notable mover, with prices up for a second straight session. Litecoin (LTC) Litecoin (LTC) surged to a nine-month high on Wednesday, as prices rose past a key resistance level. LTC/USD hit a peak of $97.73 earlier in today’s session, less than 24 hours after trading at a…

Federal judge bars SBF from contacting FTX and Alameda employees, using Signal

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A federal judge presiding over the criminal case against former FTX chief executive officer Sam Bankman-Fried has ordered he not have any contact with current or former employees of the exchange as part of his bail conditions. In a Feb. 1 ruling, Judge Lewis Kaplan of the Southern District of New York said Bankman-Fried was to be prevented from communicating with current or former employees of FTX or Alameda Research “except in the presence of counsel” in order to remain free on bail through his trial. As part of his…

Twitter Social Media Rival Damus Makes Its Debut on App Store

With its current positioning, Damus is notably ready to take on the privacy communication model beyond the big tech. After its initial rejection, Damus, a decentralized social media platform messaging platform has finally made its debut on Apple Inc (NASDAQ: AAPL) AppStore. As reported by The Block, the social platform went live on Tuesday and the launch got a shout-out from Twitter founder and former Chief Executive Officer Jack Dorsey. and Google Play Store: https://t.co/1Ve7GIBG0F and of course, the open web: https://t.co/qXl9xrmtKE (one of many) — jack (@jack) January 31,…

Bitcoin Price Little-Changed on Soft Economic Data Ahead of Fed Meeting

Bitcoin (BTC) barely noticed the news, continuing to trade flat over the last 24 hours at just above $23,000. After a brutal 2022, the crypto has moved higher so far this year, in part as many are expecting a slowdown in the economy and inflation, and perhaps easier monetary policy from the U.S. Federal Reserve. Source AheadBitcoindataEconomicFedLittleChangedMeetingPriceSoft CryptoX Portal