Day: May 19, 2023

Bug in Aave V2 Polygon causes some assets to become stuck in contracts

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A bug in an older version of crypto lending protocol Aave is blocking users from interacting with Wrapped Ether (WETH), Tether (USDT), Wrapped Bitcoin (WBTC) or Wrapped Matic (WMATIC) pools on Aave V2 Polygon, preventing assets from being withdrawn from them, according to a May 19 proposal that attempts to fix the bug through a patch. The proposal says that users are currently unable to “supply more of those assets, borrow, repay, or withdraw.” Although withdrawals are currently impossible, the team stated that funds are “perfectly safe,” as the bug can…

Injective (INJ) posts over 22% gains this week

Injective Protocol, a blockchain platform designed for decentralized applications (dApps), is attracting attention as its native injective (INJ) token is experiencing a price surge, rising by over 22% in the past week. The INJ token serves as both a utility and governance token, to empower users in shaping the platform’s future.  Injective (INJ) price action and market overview At the time of writing, the price of INJ stands at $7.07, representing a 9.6% increase on the day. However, on the weekly timeframe, INJ is up by a decent 22.5%. With…

Blockchain technology platform Bakkt looks toward Europe after MiCA

The international regulatory environment for cryptocurrency is improving, and the company is eyeing a retail expansion on the continent, Bakkt chief product officer Dan O’Prey said. On the whole, O’Prey saw positive long-term trends. Speaking to Cointelegraph’s U.S. News Editor, Sam Bourgi, at Bitcoin 2023, O’Prey described Bakkt as prioritizing its role as a “B2B2C” company for the past two years. As such, it has seen “a significant portion of the major institutional interest” focused on Bitcoin (BTC), in spite of the aftermath of the collapse of cryptocurrency exchange FTX.…

Staked ETH crosses 20m mark one month after Shapella upgrade

Following the recent Shapella upgrade, the proof-of-stake blockchain has now enabled withdrawals for the first time, resulting in a surge of activity among ETH holders who are eagerly staking their tokens with network validators. As a result, deposit activity has reached its highest level since the implementation of the Shapella upgrade last month. Just a month after the successful implementation of Ethereum’s Shapella upgrade, the network has witnessed a remarkable milestone as the total volume of staked ETH has surged past 20 million. The Shapella upgrade, an important protocol enhancement,…

Tether, KriptonMarket to support USDT transactions at Argentina’s Central Market

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Argentinians can now purchase dairy produce with the USDT stablecoin at the Central Market of Buenos Aires — one of the largest movers of fruits and vegetables in Latin America. The move was enabled by a partnership between the stablecoin issuer Tether and on-/off-ramp platform KriptonMarket.  The collaboration will provide companies the ability to accept and pay bills with USDT, as well as pay a percentage of employee salaries with the stablecoin. The Central Market supplies over 12 million people per month and is home to over 500 wholesale companies,…

Ethereum users are increasingly demanding self-custody: Casa CTO

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The demand for Ethereum self-custody solutions is growing, according to Jameson Lopp, co-founder and chief technology officer of Bitcoin wallet provider Casa. In a conversation with Cointelegraph at Bitcoin 2023, Lopp stated that Casa has found it necessary to provide Ethereum support due to the increased number of Ethereum users seeking the service. Incidents like the collapse of FTX in 2022 have raised awareness of the need for a secure way to store Ethereum and Ethereum tokens such as stablecoins, Lopp said: “I’ve actually spoken to Casa clients who suffered…

Bitcoin production growth and capital strategy guiding Marathon Digital: CEO

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A combination of more hash rate coming online from mining plants and a price protection approach is shielding Bitcoin mining firm Marathon Digital Holdings through the bear market, CEO Fred Thiel told Cointelegraph.  In an exclusive interview during the 2023 Bitcoin Conference in Miami, Thiel disclosed the strategy behind Marathon’s figures in the first quarter of 2023, when the firm reduced its net loss from $12.9 million ($0.12 per share) from Q1 2022 to $7.2 million ($0.05 per share) this year. Marathon is offsetting lower Bitcoin (BTC) prices with production increases. It reported a quarterly…

BitDAO passes BIP-21 token optimization and branding proposal

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The BIT token will soon undergo a branding transformation to become Mantle, a measure approved through a high majority vote on May 19 on a proposal to optimize the token ahead of the launch of a new layer-two mainnet.  As Cointelegraph reported on May 12, the BIP-21 proposal sought to unify the BitDAO ecosystem under a “One brand, One token” principle. Now that it’s passed, with a reported votes tally of 235 million BIT voting yes and 988 BIT voting no, the BIT token will eventually become MANTLE. As per…