Day: April 4, 2023

Arbitrum FUD spooks the market, but on-chain data shows whales accumulating ARB

Arbitrum suffered a big blow during the April 1–2 weekend due to a conflict between ARB tokenholders and the Arbitrum Foundation on the allocation of 750 million ARB tokens worth around $900 million. Data from on-chain analysis firm Arkham Intelligence shows a transfer of $50.5 million out of the disputed allocation of 750 million ARB tokens. They shared with Cointelegraph: “Only 50.5 million of those tokens have been moved. 10 million tokens have been sent to be sold on exchanges, 40 million have been loaned to Wintermute and the remaining…

SEB and Credit Agricole launch digital bond platform on blockchain

Skandinaviska Enskilda Banken (SEB) and Credit Agricole Bank have jointly launched a new digital bond platform called “so|bond.” The platform is built on blockchain technology and enables institutional clients to issue, trade and settle bonds digitally. The platform is set to provide a more efficient and secure process than traditional methods, enhancing the clients’ experience. The so|bond platform is designed to use a validation protocol called “Proof of Climate awaReness” to minimize its environmental footprint while incentivizing participating nodes to improve their environmental impact. Each node will be remunerated according…

Arbitrum Governance Fracas Reopens the Question: Why DAOs?

Arbitrum’s DAO was pitched as a way to “decentralize” control of the protocol’s development away from Offchain Labs, the company that launched Arbitrum, and bring users and “the community” into the fold. Tokens were airdropped, a reward to early adopters of the system, seemingly with great promise. Unfortunately, the project took some 18 months to build goodwill and a consistent user base, then damaged its credibility in five minutes, according to critics on the project’s Discord. Source

Crypto Market Cap Jumps to $1.19T, the Highest Since June

The rise in overall crypto wealth stands out because it coincides with the industry facing one of the strongest crackdowns in its history. Despite that bleak regulatory outlook, the market cap for digital assets has risen to $1.19 trillion, according to data from CoinMarketCap. The figure stood at about $800 billion at the beginning of 2023. Source

OPEC+ Production Cuts to Impact Central Banks Fight against Inflation

Reducing oil production means there will be a relative shortage in the supply of the product. The recent actions by some members of the Organization of Petroleum Exporting Countries (OPEC) and its allies tagged OPEC+ to cut oil production beginning in May can significantly stir a setback for most country’s Central Banks. With Saudi Arabia and its key allies including the United Arab Emirates and Kuwait set to cut production by more than 1 million barrels per day, Russia’s projected 500,000 cuts have taken the number to 1.6 million barrels.…

SEC reaches ‘agreement in principle’ to resolve insider trading case of Coinbase product manager

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The United States Securities and Exchange Commission is moving forward with a resolution to the case against a former product manager at Coinbase Global accused of insider trading. In an April 3 filing in U.S. District Court for the Western District of Washington, the SEC said it had reached “an agreement in principle” with Ishan Wahi. The former Coinbase employee — along with his brother Nikhil Wahi and associate Sameer Ramani — allegedly used confidential information he obtained from the crypto exchange in order to profit off new listings of…

Modular Blockchain Astria Raises $5.5M for Shared Sequencer Network

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Polkadot Registers Trademark for Blockchain Communication Platform

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated. The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity…

Blockchain-Powered Satellite Contributes to Ethereum Scaling

The Ethereum KZG ceremony is receiving a contributor from outer space as Cryptosat, a blockchain-powered satellite orbiting Earth, has contributed entropy to the Ethereum scaling effort. The satellite’s Verifiable Random Beacon service generated the entropy, which was signed by the satellite itself and can be verified using the public key of Crypto2. The Ethereum Foundation requested that users from all over the world contribute randomness to the KZG ceremony to strengthen the security of the next version of Ethereum. The KZG ceremony aims to provide a cryptographic foundation for Ethereum…

Will Shiba Inu tail Dogecoin’s price rally?

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The price of Shiba Inu (SHIB) increased over 10% in a day amid broader upside moves across meme cryptocurrencies in the past 24 hours. But will SHIB price rally further SHIB price tails Dogecoin’s gains On April 4, SHIB’s price reached $0.00001159 a day after rebounding from its local low of $0.00001049 — a 10.5% increase. Still, the meme-token underperformed most of its rivals, including Dogecoin (DOGE), which jumped over 30% in the same period. On a year-to-date timeframe, SHIB and DOGE’s gains are nearly identical around 38%.  SHIB/USD versus…