“China is exporting disinflation across the western world,” David Brickell, director of institutional sales at crypto liquidity network Paradigm, told CoinDesk. “We’re seeing it reflected in producer price inputs, but not yet fully feeding into consumer prices. Ultimately this will be good for risk as it relates to the end of the global hiking cycle.” Source
“Global work on CBDCs has made further progress” since last year, the report said, with the work particularly intense in emerging economies where it’s seen as a way of helping unbanked people. “If issued, retail CBDCs can be expected to complement and coexist with other domestic payment methods.” Source
Threads, Meta’s newly launched microblogging app, has become a target for scammers wasting no time trying to deceive users. The platform has already drawn the attention of several influential Crypto Twitter users, who are sounding the alarm about imposter accounts lurking on Threads. On July 8, decentralized finance platform Wombex Finance shared an image of an imposter Threads account pretending to be associated with their project. Wombex Finance promptly alerted users, cautioning them that scammers could potentially operate the account since their project was not present on the Threads platform.…
While a series of global incidents severely damaged trust in the crypto space, some still hope to regain this trust by going through processes that assure compliance with certain business standards, like the proper handling of customer data. Several firms have published press releases to announce their compliance with the service and organization controls (SOC) 2 type 2 audit, which was created to attest to the security and data-handling prowess of their firms. To learn more about what this type of security audit means for the industry, Cointelegraph reached out…
Bitcoin (BTC) begins a new week barely clinging to $30,000 as a “bearish divergence” sets the tone. After a quiet weekend, BTC price action faces a potential pullback period within its broader bullish trend, traders say. What could be on the menu for the market this week? After a relative period of calm, external triggers are back for risk assets, with a slew of United States macroeconomic data releases combining with multiple speeches from Federal Reserve officials. Add to that some interesting dynamics around U.S. BTC buying now in play…
Cryptomeria Capital’s Vadim Krekotin provided a comprehensive overview of ZK roll-ups at ETHBarcelona, shedding light on the differences between optimistic and zero-knowledge roll-ups while highlighting their potential applications beyond the crypto industry. Vadim Krekotin, the founding partner of a crypto-focused investing company Cryptomeria Capital, presented a detailed analysis of ZK roll-ups during the ETHBarcelona conference. As an experienced investor in blockchain companies, Krekotin offered insights into the evolving landscape of zero-knowledge technology and its comparison to optimistic roll-ups. The presentation delved into the history of zero-knowledge technology, tracing its origins…
A hacker drained approximately $455,000 from non-custodial decentralized finance (DeFi) protocol Arcadia Finance by exploiting a code vulnerability. Blockchain investigator PeckShield alerted about the hack on Arcadia Finance, pointing out the cause as “the lack of untrusted input validation.” The code supposedly lacked a validation mechanism to cross-check unverified inputs. This loophole allowed the hacker to drain funds worth roughly $455,000 from Ethereum (darcWETH) and Optimism (darcUSDC) vaults collectively. Arcadia Finance code required no validation of untrusted input. Source: PeckShield Arcadia Finance has not yet responded to Cointelegraph’s request for…
Ian W. from OSO AI delivered a speech at the ETHBarcelona conference, discussing integrating AI into the web3 space to create a new front-end that simplifies user experience and fosters mainstream adoption. Ian W., representing OSO AI, took the stage at the ETHBarcelona conference to share his vision for enhancing the user experience in the web3 space through the power of artificial intelligence (AI). In his talk titled “Creating a new front-end for web3 using AI + Messaging,” he emphasized the potential of AI to streamline interaction, simplify complexity, and…
Approval management platform Revoke has issued a fix aimed at mitigating a new crypto scam, which involves baiting crypto users into revoking “fake approvals” and then stinging them with excessively high transaction fees. On July 9, Revoke.cash stated that it had received reports of people seeing unknown approval transactions in their transaction history. Yesterday, we received reports of people seeing unknown approval transactions in their transaction history. It turns out that this is a new scam where scammers use so-called gas tokens to steal money when victims revoke these “fake…
Bitcoin (BTC) is selling for a nearly $3,000 discount on Binance.US, providing a significantly better rate than global spot prices — but there’s just one catch. On July 9, a swathe of crypto users began noticing a widening price discrepancy between cryptocurrencies listed on the United States crypto exchange and their global spot prices, with many calling it a “depeg” of cryptocurrencies. BTC/USD charts on Binance.US shows a current price of $27,536. Source: Binance.US Bitcoin is currently trading at $27,536 on the exchange against the U.S. dollar, which is around…