Day: April 6, 2023

The Tricky Relationship Between the Meme Economy and NFTs

With this context in mind, the overnight success of Nakamigos, a 20,000-edition NFT project featuring pixelated avatars, has bewildered some analysts and traders. Launched last month, the project taps into the name of Bitcoin’s pseudonymous creator, Satoshi Nakamoto, and added the Spanish word for friend “amigo” to create Nakamigos, and leveraged art for the collection that nods at the pixelated profile picture (PFP) collection CryptoPunks. Nakamigos quickly gained popularity and reportedly outpaced Bored Ape Yacht Club in the number of lifetime trades within days of its mint. At the time…

Euler team denies on-chain sleuth was a suspect in hack case

boss

The pseudonymous Twitter user and blockchain investigator Officer’s Notes believes they may have been a suspect in the $195 million Euler Finance hack. In an April 4 Twitter thread, the security researcher stated, “Seems like I was a suspect in this case, as usual.” The Euler team has denied that Officer’s Notes was a suspect, claiming instead that the researcher was helpful in the investigation. they urgently woke me up in the middle of the night and been asking for help when the attack happened… we even had a google…

US Treasury Report Warns of Defi’s Threat to National Security, Authors Conclude Fiat Is Used in Illicit Finance More Than Crypto – Defi Bitcoin News

boss

The U.S. Treasury has released a 42-page report assessing the risks of decentralized finance (defi). The report states that specific nation-state adversaries, cybercriminals, ransomware attackers, thieves, and scammers are using defi to “transfer and launder their illicit proceeds.” The Treasury’s report warns that defi could threaten national security and calls for policymakers to increase oversight. U.S. Treasury Report Assesses Risks Associated With Decentralized Finance The U.S. Treasury released a report on April 6, 2023, that assesses the purported risks of defi. “The risk assessment explores how illicit actors abuse defi…

Trader Joe joins top 5 DEX list as Liquidity Book model thrives on Arbitrum

Trader Joe has risen to the top five decentralized exchanges by trading volume after the launch of its V2 platform on Arbitrum on Feb. 1, 2023.  Top five DEX by 7-day trading volume. Source: DeFiLlama The project launched a liquidity incentive program to boost deposits for ARB, ETH and USDC trading which shared 300,000 JOE token rewards worth around $171,000. The incentive program ends on April 6. The project’s social media account reported that Trader Joe accounted for 15.7% of the total ARB trading volume in the first week. We…

What will be the outcome of the Ethereum Shanghai upgrade?

boss

In this week’s episode of Market Talks, Cointelegraph welcomes Justin Bram, co-founder and CEO of Astaria — which allows users to put up their nonfungible tokens (NFTs) as collateral to earn instant liquidity. Bram also has his own YouTube channel with over 30,000 subscribers. We kick things off by getting Bram’s opinion on the most exciting thing happening in decentralized finance (DeFi) right now and follow it up by discussing the most important thing happening in DeFi. We then get into Ethereum layer-2 protocols like Arbitrum and whether Bram is…

US state regulators announce $10M settlement with Robinhood ‘for failing investors’

boss

The California Department of Financial Protection and Innovation said that the company behind cryptocurrency and stock trading platform Robinhood will likely pay more than $10 million in penalties “for operational and technical failures that harmed main street investors.” In an April 6 announcement, the DFPI said the settlement — up to $10.2 million — was the result of an investigation by the North American Securities Administrators Association in conjunction with securities regulators from Alabama, Colorado, California, Delaware, New Jersey, South Dakota and Texas. The platform suffered a series of system outages…

White House hopeful RFK Jr. says instant payments may lead to ‘financial slavery’

boss

Robert F. Kennedy Jr. filed documents with the United States Federal Election Commission on April 5 to run as a Democratic presidential candidate in 2024, according to multiple news reports. He is expected to officially announce his candidacy on April 19 in Boston, Massachusetts. As reports of his candidacy spread, Kennedy tweeted his position on central bank digital currency (CBDC). Kennedy, the nephew of U.S. President John F. Kennedy and son of former U.S. attorney general Robert F. Kennedy, is an environmental lawyer who gained notoriety as an anti-vaccination activist.…

$1.12B in Bitcoin options expire this week, and bulls appear to be at a disadvantage

boss

Bitcoin’s (BTC) 43% rally between March 10 and March 20 surprised options traders and this is proven by the minimal14% of the $1.12 billion open interest set to expire on April 7 being placed at $28,000 and higher.  The positive price movement can be partially attributed to an increase in commodity demand, as investors perceive risks in the central bank’s emergency funding programs, as injecting liquidity causes inflationary upward pressure. According to Urban Angehrn, CEO of the Swiss Financial Market Supervisory Authority (FINMA), if Credit Suisse had not been rescued,…