Month: July 2023

zkSync Era’s Kannagi Finance rug pulls and steal $2.13m

Kannagi Finance, a decentralized yield aggregator, has rug pulled with an estimated $2.13 million of investor funds.  According to the blockchain security company, Peckshield, Kannagi Finance erased its digital footprint after bolting with more than $2 million worth of investors’ funds. Its official website, along with social media and communication channels, are offline. A rug pull refers to a form of scam where developers of a cryptocurrency project unexpectedly pulls liquidity from a pool, leading to sharp losses. German blockchain security firm, SolidProof, audited Kannagi’s smart contract. However, it has…

Alibaba, silver, gold, Bitcoin, Ethereum: Mike Novogratz’s ideal portfolio

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Galaxy Digital’s founder Mike Novogratz shared what an ideal investment portfolio would look like for a young and high-risk tolerance investor during an interview with Bloomberg Wealth, saying that he’d invest in the Chinese giant Alibaba, silver, gold, Bitcoin (BTC), and Ethereum (ETH). “If they were young and had a high-risk tolerance, I’d be buying Alibaba stock. I’d be buying silver, gold, Bitcoin and Ethereum. That’d be my portfolio,” he said in allusion to someone investing $100,000. For those with lower risk tolerance, he recommended allocating only 30% of a…

SEC Chair Gary Gensler Blasts Crypto Exchanges, Avoids Issue of Appeal in Landmark Ripple Ruling

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U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler is once again sounding the alarm on crypto exchanges, saying that the platforms are not working in the best interests of their users.  In a new Bloomberg interview, Gensler says that companies issuing crypto tokens are not being 100% honest with their investors.   The SEC chair zeroes in on crypto exchanges, saying that the centralized platforms are operating in an unacceptable manner by taking advantage of their users. “A lot of investors should be aware, it’s not only a highly speculative…

Base’s TVL spikes 48X on BALD meme coin frenzy

The total value locked (TVL) of Base, an Optimism-based layer-2 platform for Ethereum, is surging, increasing by 48X, partially attributed to the frenzy surrounding the BALD meme coin.  As of July 30, Base’s TVL stands at $46.18 million, surpassing competitors Mantle and Apex, and closing in on Polygon’s zkEVM, which has a TVL of $56 million. Base TVL: L2Beat The BALD meme coin, inspired by Brian Armstrong, the founder of Coinbase, has played a significant role in driving the transaction count on Base.  Since launching on July 29, BALD prices have…

US passes military spending bill, aims to curb crypto money laundering

The U.S. Senate has approved the 2024 National Defense Authorization Act (NDAA). The bill included a provision to strengthen regulatory scrutiny of financial institutions involved in crypto trading, particularly mixers and anonymity-enhancing tokens, focusing on enhancing oversight and transparency of crypto transactions. Bipartisan senators unite to propel crypto regulation The bipartisan group of U.S. Senators, including Kirsten Gillibrand, Cynthia Lummis, Elizabeth Warren, and Roger Marshall, had proposed this amendment. They highlighted that this step taken by Congress is one of the most significant actions regarding crypto assets regulations in the U.S.…

Here’s How Long The Majority Of New Ethereum Wallets Are Used Before They’re Dumped

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Ethereum is currently the leader in decentralized finance, non-fungible tokens, and smart contracts, and it continues to maintain its position as the dominant cryptocurrency in the altcoin market. This has led to Ethereum having the highest rate of creation of new addresses when compared to the other blockchains. However, data suggests most of these new addresses are dumped just after a few days.  New Ethereum Wallets Are Used for Only a Short Time Ethereum is second to Bitcoin in terms of unique addresses. Ycharts estimates put the number of unique…

InQubeta taking over crypto channels on Telegram, TON edges BNB and ETH

In the competitive crypto market, Toncoin (TON) is a worthy contender whose activity has surpassed (BNB) and Ethereum (ETH), thereby attracting considerable investor interest. However, a new player, InQubeta, has gained significant attention in crypto-focused Telegram channels, generating discussions and curiosity among investors.  This article delves into the reasons behind the growing popularity of the InQubeta crypto artificial intelligence (AI) project. InQubeta  is dominating crypto Telegram channels InQubeta, a platform aiming to democratize investments in AI startups, is popular in the crypto scene. Its native token, QUBE, dominates crypto-centric Telegram channels…

Bitcoin due key MACD bull flag repeat as BTC price freezes at $29.3K

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Bitcoin (BTC) further reduced volatility ahead of the July 30 weekly close as traders eyed an exciting long-term bull signal. BTC/USD 1-hour chart. Source: TradingView BTC price makes weekend “slower than ever” Data from Cointelegraph Markets Pro and TradingView followed sideways BTC price action over the weekend, with BTC/USD sticking in a tiny $150 range. #Bitcoin Trading within a $10 range for the past 1.5 hours. Weekends are slower than ever lately. pic.twitter.com/FmZLL82wrk — Daan Crypto Trades (@DaanCrypto) July 29, 2023 Conditions throughout the week had remained calm, despite a…

blockchain can save billions for financial institutions

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied A joint report released on July 29 by Ripple and the US Faster Payments Council shows that blockchain technology could save financial institutions roughly $10 billion in cross-border payment expenses by 2030.  A survey of 300 finance professionals from 45 countries, including those in fintech, banking, media, consumer technology, and retail, revealed that blockchain technology would play a significant role in speeding up payment systems, reducing cross-border payment costs, and enhancing their velocity within the next three years,…

5 Python libraries to interpret machine learning models

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Understanding machine learning models’ behavior, predictions, and interpretation is essential for ensuring fairness and transparency in artificial intelligence (AI) applications. Many Python modules offer methods and tools for interpreting models. Here are five to examine: What is a Python library? A Python library is a collection of pre-written code, functions and modules that extend the capabilities of Python programming. Libraries are designed to provide specific functionalities, making it easier for developers to perform various tasks without writing all the code from scratch. One of Python’s advantages is the wide variety…