TD Cowen analyst Lance Vitanza, who initiated coverage on the Michael Saylor-led firm last Wednesday with an outperform rating, praised the company for its “hybrid corporate strategy.” MicroStrategy is known for converting all of its earnings from its core software intelligence business into bitcoin. This approach represents a “paradigm shift,” he wrote in a note to investors. Source
Cryptocurrency exchange Binance received approval to operate as a cryptocurrency exchange in Dubai, it said in a press statement. The company had obtained a provisional permit in September 2022, media reports said. The Virtual Assets Regulatory Authority (VARA) of Dubai issued Binance with a Minimal Viable Product (MVP) licence last year, enabling the exchange to create a local bank account in the emirate for the storage of clients’ funds. Because of the MVP licence, the exchange may also provide payment and custody services in addition to operating as an exchange…
Investors will be looking for continued signs of a cooling employment market and slowing growth, which would suggest inflation is waning and possibly buoy risk-on asset markets, although cryptos have been largely immune from significant macroeconomic events. Hot jobs data, which typically accompanies rising prices, has been a particular concern for the U.S. central bank, which raised the interest rate 25 basis points (bps) last Wednesday. Source
Crypto lawyers John Deaton and Mike Selig took to Twitter to debunk misconceptions about the judge Torres’ decision regarding XRP’s security status. The legal experts sought to clarify the ruling amid what they deemed to be widespread inaccuracies perpetuated by financial commentators and even some politicians. John Deaton, the founder of CryptolawUS, expressed his concern about the misinterpretation of the US judge Torres decision, questioning whether it was a result of genuine confusion or intentional misinformation to push false narratives. He called out politicians like Brad Sherman, accusing them of…
Several Curve Finance liquidity pools were attacked on July 30 due to a vulnerability found in the Vyper programming language. Vyper is a contract programming language created for the Ethereum Virtual Machine (EVM). Curve Finance is one of the key decentralized finance (DeFi) protocols due to its key liquidity services, and the code vulnerability has put nearly $100 million worth of digital assets at risk. The vulnerability was found in the version 0.2.15, 0.2.16 and 0.3.0, leading to a malfunctioning reentrancy lock. As a result, millions were drained from four Curve…
Machine learning is a fascinating and rapidly growing field revolutionizing various industries. If you’re interested in diving into the world of machine learning and developing your skills, YouTube can be an excellent platform to start your learning journey. Numerous YouTube channels are dedicated to teaching machine learning concepts, algorithms and practical applications. This article will explore seven top YouTube channels that offer high-quality content to help you grasp the fundamentals and advance your machine-learning expertise. 3Blue1Brown Grant Sanderson’s YouTube channel, 3Blue1Brown, has gained fame for its exceptional ability to elucidate…
While Sorare has over 4 million registered managers, it may now see the association with crypto as a hindrance to further growth and has introduced support for the U.S. dollar, the euro and the British pound. The move follows that of fellow NFT-related sports game NBA Top Shot, which accepts U.S. dollars. Source
After a shocking revelation by CEO Brian Armstrong, Coinbase, the Nasdaq-listed crypto exchange, saw its share price plummet by more than 10%. The reason: a controversial request from the US Securities and Exchange Commission (SEC) prior to the lawsuit against Coinbase. The SEC’s demand? That Coinbase halts trading in all cryptocurrencies other than Bitcoin. Brian Armstrong, Coinbase’s CEO, revealed the SEC’s absurd request in an exclusive interview with the Financial Times. “They came back to us, and they said . . . we believe every asset other than Bitcoin is a security,” Armstrong…
A white hat hacker has managed to take around 2,879 Ether (ETH), worth around $5.4 million, from an exploiter and returned it to the decentralized finance (DeFi) protocol Curve Finance amid the recent hack. On July 30, several stablepools on Curve Finance were exploited due to malfunctioning reentrancy locks on several versions of the Vyper programming language. The losses from Curve Finance are estimated to be around $47 million. However, DeFi protocols that were using the vulnerable versions of Vyper were also exploited, exposing the DeFi ecosystem to a stress…
The Ethereum ecosystem has continued to see fascinating developments in the past weeks. Among the most notable is the sudden movement from a participant in Ethereum’s initial coin offering (ICO), who, after a roughly eight-year slumber, has sprung into action due to a reason. The Ethereum ICO participant, whose address remained inactive for 2,922 days, stirred up by transferring 641 ether, an amount currently valued at nearly $1.2 million. An Unexpected Move In The Ethereum Ecosystem The intent behind these transactions was revealed through on-chain analytics X (Twitter) account Lookonchain,…