Day: June 14, 2023

Horizen and Auros Join Forces to Drive Mass Adoption of EON and $ZEN Token

Auros, known for providing ample liquidity to exchanges and cryptocurrency projects through algorithmic trading and market-making, stated that they will provide the necessary liquidity to help achieve Horizen’s goals. On June 13th, Horizen, a leading layer 0 public blockchain, announced its strategic partnership with Auros, a global algorithmic trading and market-making firm, to boost the adoption of $ZEN while preparing for the launch of the EON ecosystem. According to Horizon’s statement, the union of both companies will accelerate the growth of EON, Horizen’s new EVM-compatible smart contracting platform. This will…

European Central Bank (ECB) Will Soon End Its Interest Rate Hiking Cycle as Inflation Slows

As inflation slows, the European Central Bank (ECB) may halt future rate hikes, with the upcoming staff projections and rate decision playing a crucial role in determining the bank’s approach. Central banks across the world have been hiking interest rates in order to tame the soaring inflation. However, as inflation shows signs of slowing down, the European Central Bank (ECB) could soon bring an end to future rate hikes. The ECB is likely to increase its benchmark policy by an additional 25 basis points this week. However, it insists that…

US Lawmakers to Vote on Crypto Bill in Coming Weeks

Patrick McHenry intends to hold a committee vote on a detailed crypto regulatory structure. Reactions about the use of crypto still make it unclear how things will turn out. Patrick McHenry, a House Republican lawmaker, plans to introduce legislation around crypto regulations after lawmakers return to work on July 11. The bill includes detailed information about the use of cryptocurrencies. The lawmaker stated at a hearing on Tuesday: “I intend for this committee to mark up some form of this legislation when we return from the July 4 recess.” McHenry…

North Korean Hackers Launder Stolen Crypto Funds Through Sanctioned Exchange

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Blockchain security firm Elliptic has revealed that the attackers responsible for the recent $35 million exploit of crypto wallet Atomic Wallet are moving the stolen funds through the Office of Foreign Assets Control (OFAC)-sanctioned exchange Garantex. Elliptic investigators strongly believe that the notorious North Korean hacking group, Lazarus, was behind the hack, as previously reported. Garantex, which was sanctioned by the OFAC last year due to lax anti-money laundering measures and its facilitation of illicit activities, has become the channel for transferring the pilfered funds, according to Elliptic. While several…

Five Reasons Why Polygon’s MATIC Token Should Not Be Classified as a Security

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The recent decision by the U.S. Securities and Exchange Commission (SEC) to classify Polygon’s MATIC token as a security has sent ripples through the cryptocurrency community. This decision, based on the SEC’s interpretation of the Howey Test, has been met with considerable debate and disagreement. Many argue that the classification of MATIC as a security is a misinterpretation of the token’s true nature. Here, we delve into five reasons why MATIC should not be considered a security.   The Principle of Decentralization: One of the most compelling arguments against the…

Prime Trust Subsidiary Banq Files for Chapter 11 Bankruptcy in Nevada Court

Prime Trust and most of its associates have come under undue problems. Prime Trust subsidiary Banq has filed for Chapter 11 bankruptcy protection in the United States District Court of Nevada. As reported by The Block, the decision to file comes only five days after the parent company reached an acquisition deal with BitGo due to its problems with embattled cryptocurrency exchange Celsius Network. Based on the filing, Banq currently has about $17.72 million in assets and a total liability of $5.4 million. According to its official website, Banq was…

Blockchain Developer Platform Alchemy Releases AI-Powered Tools for Web3 Builders

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Connext Labs Raises $7.5M, Valuing the Blockchain Interoperability Protocol at $250M

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…

Strike Expands Lightning-Powered International Payments to Mexico

The service, Send Globally, will be available in Mexico starting June 14, according to a press release provided to CoinDesk. It runs on Lightning Network, a second layer payment system for the Bitcoin blockchain designed to provide cheaper and faster transactions than the base network. U.S. dollars sent across the border using the service can be received as pesos in the recipient’s bank account, the release states. Source

Here’s what happened to Arbitrum post-airdrop

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On-chain analytics firm Nansen released a new report detailing what happened to the Arbitrum network after its popular airdrop event. From sustaining the surge of users and transactions to a decline in new wallets conducting their first transaction, the analytics company analyzed the impact of the airdrop on the chain’s ecosystem.  On March 23, the Arbitrum Foundation airdropped its new token to eligible community members. According to the organization, Arbitrum (ARB) tokens marked its shift into a decentralized autonomous organization (DAO). More than two months after the airdrop, Nansen analyzed…