March 1, 2023

Dummies guide – Cointelegraph Magazine

March 1, 2023 boss

For years, Bitcoiners have repeated the mantra “be your own bank.” But in truth, storing any type of crypto in a wallet has been a lot closer to stuffing cash under your mattress than to a complex financial institution like a bank. Admittedly, it’s an improvement in that crypto can be transferred across the globe in minutes and it’s secured with cryptography — but it’s also a lot less user-friendly than a bank and doesn’t offer anywhere near as many features. Your crypto could be stolen in a $5 wrench…

Koii Labs, Idexos launch middleware bridge aiming to replace CEXs

March 1, 2023 boss

Attacks on bridge technology in 2022 led to the theft of $2.5 billion from decentralized finance (DeFi) protocols, according to a report by Token Terminal. While this could have been a setback for many projects — and, thus, the crypto space — it seems to be fueling infrastructure and security developments. At the 2023 ETHDenver conference, Web3 protocol Koii Labs and software company Idexo announced a new middleware bridge to advance deployments on-chain with “just a few lines of code,” Cointelegraph exclusively learned from the teams. The solution aims not only…

Koii Labbs, Idexos launch middleware bridge aiming to replace CEXs

March 1, 2023

Attacks on bridge technology in 2022 led to the theft of $2.5 billion from decentralized finance (DeFi) protocols, according to a report by Token Terminal. While this could have been a setback for many projects and, thus, for the crypto space, it seems to be fueling infrastructure and security developments. At the ETH Denver 2023, Web3 protocol Koii Labs and software company Idexo announced a new middleware bridge to advance deployments on-chain with “just a few lines of code,” Cointelegraph exclusively learned from the teams. The solution aims not only…

24 Exchange Sets New FX NDF Trading Record in February

March 1, 2023 boss

24 Exchange processed $1.49 billion in average daily forex non-deliverable forward (NDF) for its global institutional customers in February 2023, thereby setting a new ADV record. The FX NDF platform also hit a record single-day volume of $1.9 billion last month. 24 Exhange’s new result comes one month after the trading venue, which was launched in 2019, crossed the $1 billion mark in its FX NDF ADV. In other words, the platform’s average daily volume in forex NDF surged approximately 50% higher last month. Earlier in October, 24 Exchange reported…

Justin Sun Says Hong Kong’s New Licensing Regime Could Shift Policy in Mainland China, Eventually

March 1, 2023

Sun thinks China is looking at Hong Kong as a kind of experiment, to see if crypto can be regulated on the mainland. If Hong Kong suceeds it could create a change of attitude in Beijing. “So that’s why they want to see Hong Kong do it first,” he said. “And then you see the result. If it has positive feedback, they might change the policy in mainland China as well.” Source

Ethereum ERC-4337 ‘smart accounts’ launch at WalletCon: Account abstraction is here

March 1, 2023 boss

Smart accounts, enabled by the launch of the new ERC-4337 standard, are now available on Ethereum and are expected to help mainstream adoption by finally making crypto user friendly. Ethereum Foundation security researcher Yoav Weiss will make the surprise announcement at WalletCon in Denver today that the core contracts for ERC-4337 — known by blockchain developers as “account abstraction” — have passed an audit by Open Zeppelin and will be made available on every Ethereum Virtual Machine (EVM) compatible network including Polygon, Optimism, Arbitrum, BNB Smart Chain, Avalanche and Gnosis…

DeFi to Go Under Microscope at US CFTC Advisory Group’s Opening Session

March 1, 2023

“A discussion about DeFi, including cyber vulnerabilities, indicators of ‘decentralization,’ digital identity and unhosted wallets, will contribute to ongoing policy discussions in Washington, D.C., and beyond the Beltway,” said Commissioner Christy Goldsmith Romero, the CFTC sponsor for the new incarnation of this advisory group, in a statement. Source

MAJOR Bitcoin Move Imminent…

March 1, 2023

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Whale sells 1,010 NFTs in 48 hours: Nifty Newsletter, Feb. 22–28

March 1, 2023 boss

In this week’s newsletter, read about how a whale sold 1,010 nonfungible tokens (NFTs) within 48 hours. The Blur NFT marketplace captured the space’s attention, and the manuscript that coined the term “metaverse” is being auctioned by Sotheby’s. In other news, find out users’ motivations behind their NFT purchases, and don’t forget this week’s Nifty News, featuring a Twitch streamer earning 1,000 ETH in exchange for the Golden Key NFT. Whale sells 1,010 NFTs in 48 hours in ‘largest NFT dump ever’ NFT whale Jeffrey Hwang, also known as Machi…

Open Source Protocol Ren Token Surges 18% Amid Rising Interest in Multichain Projects

March 1, 2023

In November, following the protocol’s loss of funding from Alameda, Ren accelerated its shift from Ren 1.0 to a more efficient, secure version. Source