Day: April 9, 2023

Conflux to Deploy Uniswap v3 on Its Blockchain

Conflux, a regulatory-compliant public blockchain based in China, is looking to deploy Uniswap v3 on its network. This move is aimed at offering millions of potential new users access to the popular decentralized exchange, especially in China and Asian markets. According to Conflux, the network experienced a surge in traffic in the first quarter of 2023, and the deployment of Uniswap v3 would be an important milestone in the platform’s development. The deployment of Uniswap v3 on Conflux would also provide incentives for projects building on top of the platform.…

SushiSwap approval bug leads to $3.3M exploit

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A bug on a smart contract on the decentralized finance (DeFi) protocol SushiSwap led to over $3 million in losses in the early hours of April 9, according to several security reports on Twitter.  Blockchain security companies CertiK Alert and Peckshield posted about an unusual activity related to the approval function in Sushi’s Router Processor 2 contract — a smart contract that aggregates trade liquidity from multiple sources and identifies the most favorable price for swapping coins. Within a few hours, the bug led to losses of $3.3 million. It…

SushiSwap approval bug leads to $3.3 million exploit

A bug on a smart contract on the decentralized finance (DeFi) protocol SushiSwap led to over $3 million in losses in the early hours of April 9, according to several security reports on Twitter.  Blockchain security companies Certik Alert and Peckshield posted about an unusual activity related to the approval function in Sushi’s Router Processor 2 contract — a smart contract that aggregates trade liquidity from multiple sources and identifies the most favorable price for swapping coins. Within a few hours, the bug led to losses of $3.3 million. It…

US Bank Lending Drops by Record $105 Billion in Two Weeks, Trillions Moving to Money Market Accounts, Elon Musk Warns ‘Trend Will Accelerate’ – Economics Bitcoin News

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The banking industry in the United States is still struggling after the collapse of three major banks. According to statistics, bank lending in the U.S. has dropped by close to $105 billion in the last two weeks of March, which is the largest decline on record. Additionally, Elon Musk, a Tesla executive and owner of Twitter, recently commented on trillions of dollars being withdrawn from banks into money market funds, and he insists that the “trend will accelerate.” Statistics Still Show Glaring Signs of U.S. Bank Weaknesses; Musk Issues Warning…

Hong Kong finance secretary says time is ripe to invest in web3

Paul Chan Mo-po, the Hong Kong finance secretary, thinks this is the right time for the city to invest in web3 technology. Web3 is maturing According to reports on April 9, Mo-po is confident that despite the recent volatility witnessed in the cryptocurrency markets, marked by the collapse of major centralized exchanges and platforms, the time is right to promote development in web3. Specifically, in a blog, Mo-po said the technology space is quickly evolving, and investment in the sphere could be timely. He added that an in-depth exploration of the technology…

‘Not Related to a Digital Currency’ — US Central Bank Addresses Concerns Over Fednow Payment Network – Bitcoin News

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The U.S. Central Bank has issued an update regarding the Federal Reserve’s Fednow project, which is scheduled to commence in July. The Fed has responded to recent criticism of the Fednow service and asserts that the Fednow payment network is “neither a form of currency nor a step toward eliminating any form of payment, including cash.” Fednow Won’t Replace Cash, the U.S. Central Bank Insists When the U.S. Federal Reserve announced the launch of the Fednow service in July, it sparked immediate opposition and led many to believe it is…

Saudi Arabia, BRICS; Ron Paul Weighs in on Potential Fall of Dollar as Reserve — Week in Review – The Weekly Bitcoin News

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The United States dollar has been a hot topic in recent weeks, with multiple reported developments occurring globally which could signal significant moves toward de-dollarization in large economies. Former U.S. congressman Ron Paul also noted this week that if the USD’s influence as a reserve currency is undermined, it might happen later than some expect. All this and more, just below, in the latest Bitcoin.com News Week in Review. US-Saudi Tensions Escalate as Report Says Crown Prince Is No Longer Interested in Pleasing the United States After Saudi Arabia and…

Russia Takes Second Place Rank by Power Capacity in Crypto Mining, Reports – Mining Bitcoin News

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Russia is now ranking second in terms of energy capacities engaged in the extraction of cryptocurrencies, new data suggests. Despite persisting regulatory uncertainty and the negative effects of sanctions, the amount of power devoted to the sector has been growing, reaching record highs this year. 1 GW of Electrical Power Involved in Crypto Mining in Russia During Q1 of 2023 Russia has for the first time climbed to second place in the world in terms of total power capacity of the facilities devoted to the production of digital currencies. According…

Gaming accounted for 45% of Q1 2023 blockchain activity

Q1 2023 has been a mixed bag in the blockchain gaming world. A report by DappRadar and the Blockchain Game Alliance shows that gaming as a whole increased its dominance from 42.87% in Q4 of 2022 to 45.60% in Q1 of 2023, carving market share from decentralized finance (DeFi), non-fungible tokens (NFTs), and social activities. This comes despite the number of daily unique active wallets (dUAW) decreasing by 8.58% from the previous quarter. One of the notable developments Q1 2023 was the rise of Polygon, a blockchain previously known for…