Day: July 26, 2023

Grimace deploys on DogeChain, plans to launch DEX and P2E game

Grimace Coin is a meme coin project on DogeChain. It launched following a light-hearted exchange on Twitter between Elon Musk and McDonald’s. This prompted a team of developers to release GRIMACE, the Grimace Coin’s native token. In the past, Musk has tweeted about Dogecoin (DOGE), driving prices higher. The DRC-20 standard   DRC-20 tokens are the native crypto assets of the DogeChain network. They are similar to ERC-20 tokens on Ethereum. However, they can hold many assets, including digital currencies, non-fungible tokens, and more. The launch of GRIMACE on DogeChain has…

Miami Heat’s Jimmy Butler seeks dismissal from Binance promo class suit

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Professional basketball player and Miami Heat’s Jimmy Butler has asked to be dismissed from a class action lawsuit targeting celebrities involved in the alleged promotion of unregistered securities by Binance, saying tweets he appeared in did not promote the named securities. In a July 24 filing, Butler’s lawyers argued three tweets he appeared in promoting Binance between Feb. 2 and 13, 2022, did not mention alleged unregistered securities and in turn could not have helped to promote them. They asserted Butler’s tweets did not recommend any investment and instead warned of…

Namibia signs crypto exchange regulation bill into law

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The Namibian Government officially signed a law to regulate Virtual Asset Service Providers operating in the country last week, reversing its original 2017 decision to ban cryptocurrency exchanges. On July 21, the VASP-regulating law was inserted into the Gazette of the Republic of Namibia after previously being approved in Namibia’s National Assembly on July 6 and signed by President Hage Geingob on July 14. The bill called the Namibia Virtual Assets Act 2023 aims to assign a regulatory authority to supervise crypto exchanges in the country. It is the first…

Defi platform Era Lend exploited on zkSync, losses $3.4m in assets

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied CertiK, a leading blockchain security firm, has issued an urgent Skynet Alert after receiving multiple reports of the defi platform Era Lend falling victim to an exploitation on zkSync.  Losses are currently estimated to be around $3.4 million. Another hacking CertiK, a blockchain security technology company that frequently tweets about vulnerabilities, hacks and exploits in the space, identifies the attack as a “read-only reentrancy attack,” strategically targeting the platform’s multi-step processes, allowing the malicious actor to drain the…

Deloitte, Chainalysis alliance to give law enforcement a crypto edge

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Professional services giant Deloitte is set to boost its clients’ blockchain-tracking capabilities following a strategic alliance with crypto analytics firm Chainalysis. Announced during a Chainalysis conference in Washington DC on July 25, the tie-up will see Chainalysis’ blockchain datasets, analytics software and training programs assist Deloitte’s clients with their crypto forensic, investigative and compliance needs. A Chainalysis spokesperson told Cointelegraph that the alliance had been in the works for years, with the aim of helping more organizations to adopt blockchain technology. Our alliance with @Deloitte, announced today at #TraceDC, will…

Bitcoin BTC Price Awaits Its Spot ETF in Absence of a Macro Catalyst: Crypto Custodian CEO

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Crypto markets aren’t reacting the same way they once did to macroeconomic events. Consider the two most recent U.S. central bank interest rate hikes in May and March. They resulted in relatively mild price moves of 1.13% and -2.87%. The reaction to recent inflation and GDP data was similarly tame, with BTC moving just -0.74% and 1.16% respectively. All told, crypto markets have likely priced in Wednesday’s anticipated move. More interesting for traders is BTC’s price declining below the lower range of its Bollinger Bands, indicating that its price could…

KuCoin denies mass layoffs, says cuts are part of ‘normal’ operations

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Cryptocurrency exchange KuCoin has shut down rumors suggesting it was preparing to lay off 30% of its workforce — a figure that amounts to approximately 300 staff — in the coming weeks. “We want to clarify that KuCoin has not initiated any alleged layoff plans,” a KuCoin spokesperson told Cointelegraph, adding that that any potential cuts are part of a broader plan to expand on the firm’s business development: “As part of the company’s business development and semi-annual employee performance review, there might be some personnel adjustments as needed, which…

Tezos (XTZ) Loses Steam In Q2, Market Cap Drops 30% Following SEC Crackdown

According to a recent report by crypto research firm Messari, Tezos has been progressing in its roadmap development, with several new features and upgrades being introduced to the network.  The platform’s core developers have announced a strategic shift to hybrid optimistic/zk rollups, with multiple teams committed to building rollups that will enable the platform to process more transactions per second (TPS) and enhance scalability. Tezos DeFi Ecosystem Booms Per the report, the recent launch of the 14th network upgrade, Nairobi, has brought improvements to the platform, new rollup functionality, and…

US prosecutors granted extension till October in Mashinsky case

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The U.S. District Judge John Koeltl issued an order to give prosecutors an extension on the Alex Mashinsky case On July 25. The decision give prosecutors more time to gather evidence before the criminal trial, which would otherwise be required to commence within 70 days of the indictment being filed. ‘High volume of discovery’ The U.S. District Judge John Koeltl issued an order on July 25, announcing that the period between July 25 and October 3…

USD-backed stablecoin pilot project launched by Pacific island nation of Palau

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The government of Palau is set to begin a pilot project for a United States dollar-backed stablecoin on July 26. The new coin will be issued on XRP Ledger. The country will release the first Palau Stablecoins (PSCs) in the pilot project to government employees. This comes after several days of testing using volunteers to make purchases with various devices. The PSC, nicknamed the Kluk, possibly due to its bird logo, is the latest project to run on the Ripple CBDC Platform that debuted in May. Ripple claimed at that…