Day: August 3, 2023

All Hype? BALD Meme Coin’s Volume Shaved By 96%

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A sequence of unfortunate developments has struck BALD meme coin enthusiasts, as the once-shining (no pun intended) digital asset has experienced a jaw-dropping 96% decline in trading volume.  The root cause of this worrying situation stems from the withdrawal of more than 6,000 Ether in liquidity from the meme coin’s smart contracts, an action that has cast a foreboding cloud over the asset’s prospects. Removing such a substantial amount of liquidity had an immediate and profound impact, triggering an abrupt and steep decline in BALD’s price. Currently, the price of…

Binance Appoints Kristen Hecht as New Compliance Officer

Hecht is a familiar face at Binance, having previously served as the global head of corporate compliance at the exchange for the past eight months, after working as the chief compliance officer at Meta’s crypto wallet project, Novi Financial, for less than two years. Earlier in her career, Hecht was a senior policy advisor at the U.S. Department of the Treasury. Source

Zuckerberg’s metaverse losses, NFT game on Discord, Gods Unchained hot take – Cointelegraph Magazine

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Let’s get business out of the way before getting to the fun part: Meta, the parent company of WhatsApp, Facebook and Instagram, is heavily involved in virtual worlds through its metaverse unit, Reality Labs.  However, its investments have yet to pay off, with the metaverse company reporting collective losses of over $40 billion.  Despite the losses, investors are optimistic about Meta CEO Mark Zuckerberg’s long-term bet on the metaverse, sending the stock up 7% after hearing Zuckerberg’s reasoning on the Meta Q2 2023 Earnings call. Meta’s stock price spiked to…

Upbit exchange overtakes Coinbase and OKX in trading volume

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South Korean cryptocurrency exchange Upbit overtook both Coinbase and OKX in terms of spot trading volume in July for the first time, according to data published on Aug. 3 from CCData.  Spot trading volume on Upbit rose in the month of July by 42.3%, up to $29.8 billion. Coinbase and OKX, on the other hand, saw their own volumes fall by 11.6% and 5.75%, bringing them in at $28.6 billion and $29.0 billion, respectively. This latest shift in the market now places Upbit after Binance as the second-largest exchange by…

Combined Crypto Spot and Derivative Exchange Volumes Sink to Yearly Low

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The total volumes generated from spot and derivatives trading activities on centralized exchanges (CEXs) slumped by 12% to $2.36 trillion in July, hitting the lowest monthly trading volume recorded this year, so far. The figures are based on the latest exchange review report by CCData, a digital assets data provider. Discover StealthEX.io – the future of cryptocurrency. Swap instantly across 1000+ coins, no sign-up, secure, and private. Dive into the new age of crypto! Specifically, spot trading volume sank by 10.5% to $515 billion, the second-lowest volume generated since March…

Marathon Digital Solidifies Position as World’s Largest Publicly Traded Bitcoin Miner

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Alibaba releases two open-sourced AI models to rival Meta’s Llama 2

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Alibaba Group, the Chinese tech and e-commerce giant, announced the release of two open-sourced artificial intelligence (AI) models from its cloud computing department on Aug. 3, according to a press release.  Its two large language models (LLMs) are dubbed Qwen-7B and Qwen-7B-Chat, with each model having 7 billion parameters. Alibaba said these two models are small-size versions of the Tongyi Qiawen, which the company released in April. These new models are aimed at helping introduce AI in the operations of small to medium-sized businesses. The company said Qwen-7B and Qwen-7B-Chat…

Aave Chan founder proposes buying $2M CRV from Curve founder

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Amid growing uncertainty around Curve exposure for many decentralized finance protocols, Aave Chan founder Marc Zeller has proposed that Aave Treasury buy $2 million worth of CRV tokens in USDT from Curve Founder Michael Egorov. The proposal noted that the $2 million worth of Curve DAO Tokens (CRV) acquisition would send a strong signal of DeFi supporting DeFi while allowing the Aave DAO to strategically position itself in the Curve wars and help Aave’s decentralized multi-collateral stablecoin GHO’s liquidity. At the current price, $2 million worth of USDT would net…