Day: August 2, 2023

Worldcoin cryptocurrency project suspended in Kenya

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The new cryptocurrency and digital identity project, Worldcoin, is facing a rough start in Kenya, with the government halting all local activity associated with it. Kenya’s minister of internal security took to Facebook on Aug. 2 to announce that the country has suspended the activities of Worldcoin until relevant public agencies had certified the absence of risks to Kenyans. “Relevant security, financial services and data protection agencies have commenced inquiries and investigations to establish the authenticity and legality of the aforesaid activities,” Minister Kithure Kindiki said in a statement. The…

Bitcoin Lightning on Coinbase agenda, Brian Armstrong tells Jack Dorsey

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Brian Armstrong, the CEO of Coinbase, confirmed that the crypto exchange is “looking into” adding the Bitcoin (BTC) Lighting network in its quest to spread crypto payments adoption across the globe. On July 28, Armstrong addressed the crypto community on Twitter (rebranded to X), highlighting the potential of cryptocurrencies to improve global payments infrastructure. He further suggested: “This will take lots of work from all of us, Coinbase included, getting layer 2’s integrated, better on-ramps, simpler UX/onboarding, etc.” Armstrong’s vision for global crypto payments was questioned by long-standing Bitcoin supports…

Kenyan Government Suspends Worldcoin (WLD) Activity

“The Government is concerned by the ongoing activities of an organization calling itself ‘WORLD COIN’ which is involved in the registration of citizens through the collection of eyeball/iris data,” said the statement signed by Minister Kithure Kindiki. Relevant financial, security and data protection services have started investigations to establish the legitimacy and data protection of the project. Source ActivityGovernmentKenyanSuspendsWLDWorldcoin CryptoX Portal

Curve DAO Price Recovery Post-Exploit: Realistic Scenario

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Curve DAO (CRV) has established itself as a prominent DeFi platform, renowned for providing ample liquidity, particularly for stablecoins. However, an unfortunate security breach occurred over the weekend, causing a significant decrease in both the total funds entrusted to Curve and the value of its native token, CRV, which serves as a means of transaction within the protocol.  According to a report from Bloomberg, this decline in CRV’s price has put the substantial sum of over $100 million in loans at risk of being liquidated, posing a serious challenge for Curve Finance’s…

Why Is The Bitcoin And Crypto Market Up Today?

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Bitcoin (BTC) saw a significant resurgence over the past few hours after hitting the lowest price since June 21 at $28,641 yesterday. At press time, BTC has experienced a 3.7% hike from its low. In fact, BTC even brushed past the $30,000 mark, indicating a substantial shift in market sentiment. So, the question begs. Why Is Bitcoin Up Today? “The entire short build-up of the past couple days just got wiped,” tweeted analyst Byzantine General. Data from Coinglass backs this claim and shows that BTC short positions amounting to $27.8…

Justin Sun, other crypto investors buy CRV token in attempt to help Curve Finance

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Following a recent exploit on the decentralized exchange, Curve Finance founder Michael Egorov managed to find an answer to his loan dilemma. Thanks to support from a group of backers, including Justin Sun, the principal value of Egorov’s loan on Aave (AAVE) decreased from $63.3 million to $54.1 million. Providing support to the fallen  On July 30, Curve Finance faced a vulnerability linked to the Vyper programming language, resulting in an exploit that led hackers to…