Day: July 11, 2023

Algorand decentralized lending protocol Algofi to shut down by end of year

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Algofi, the borrowing and lending protocol built on decentralized finance blockchain Algorand, will soon shut down. According to a July 11 announcement, developers’ “belief in the strength of Algorand’s technology and novel consensus algorithm has not wavered,” however, the Algofi platform will nevertheless wind down soon: “A confluence of events has taken place that no longer makes building and maintaining the Algofi platform to the highest standards a viable path for our company. Due to this, we will begin sunsetting the platform and put the platform in withdrawal-only mode shortly.”…

BlackRock Bitcoin ETF could unlock $30 trillion worth of wealth, Bloomberg analyst says

$30 trillion worth of capital could suddenly unlock for the Bitcoin market if a Bitcoin spot ETF is approved by the U.S. Securities and Exchange Commission, according to Bloomberg ETF analyst Eric Balchunas.  That is the estimated amount of assets controlled by financial advisors in the U.S., who would be willing to get exposure to Bitcoin through a regulated exchange-traded fund.   “ETF is the format in which the boomers and the financial advisors prefer their investments delivered in”, Balchunas explained in an exclusive Cryptox interview.  Blackrock’s application for a Bitcoin…

5 High-risk, high-reward crypto to invest in 2023

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High-risk investments often promise high returns – and the realm of cryptocurrencies is no different. In this article, we delve into five potentially explosive cryptos that could shake up the market in 2023, providing a tantalizing glimpse into the future of the digital assets space. 1. Mr Hankey Coin (HANKEY) Kicking off this list is Mr Hankey Coin (HANKEY) – a project born from the whimsical humor of the beloved South Park character. This token combines hilarity with high potential returns, defying traditional crypto market dynamics. Set to launch on…

US authorities are investigating former FTX exec for potential campaign finance violations: Report

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Prosecutors in New York are reportedly looking into former FTX Digital Markets co-CEO Ryan Salame for potential violations of campaign finance law in the United States. According to a July 11 report from The New York Times, Salame and his girlfriend Michelle Bond — a Republican candidate who ran to represent New York’s 1st congressional district in 2022 — may have exceeded the federal limits on contributions during her campaign. Authorities are reportedly investigating financial ties between Salame and Bond dealing with her congressional campaign, which did not move beyond…

Artificial Intelligence-Backed Web3 Security Firm Olympix Raises $4.3M

“Out of the many wins Olympix has had over the past year, I’m most proud of the results of our static analyzer private alpha,” wrote Greenwall in the announcement post. “With 30+ companies participating, including Blockdaemon, Rysk Finance, and Arrakis Finance, we’ve become a trusted part of the developer workflow not just to find and fix vulnerabilities, but help the developer become more sophisticated through real-time micro-teaching moments. Most notably, our private alpha has helped developers secure over $300 million in assets since its launch.” Source

Polygon’s MATIC Surges 10% as Network’s 2.0 Upgrade Draws Closer

Matic’s aggregated open interest, which is a metric used to assess the nominal value of open derivatives positions, has experienced an even larger uptick over the past 24-hours, rising from $109 million to $160 million, or 47%, according to Coinalyze. That big jump suggests that the rally is being backed with leverage. Original Source CloserDrawsMaticNetworksPolygonsSurgesupgrade CryptoX Portal

Bitcoin exchanges now hold the same BTC supply share as in late 2017

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Bitcoin (BTC) held on exchanges is down to where it was at the 2017 BTC price all-time high, data confirms. Tracked by on-chain analytics firm Glassnode, the latest figures show less than 12% of the BTC supply now resides in exchange wallets. Analyst: BTC price “on the cusp of true price discovery” Bitcoin returned to exchanges during the 2023 BTC price upside, during which BTC/USD more than doubled from cycle lows. The period since late April has seen a reversion to the long-term trend of coins leaving exchanges, however, and…