Day: August 9, 2023

SEC to seek interlocutory appeal in Ripple case

boss

The United States Securities and Exchange Commission has filed a letter of intent to request an interlocutory appeal to Judge Analisa Torres’ July 13th summary judgment in its ongoing legal battle against Ripple Labs. In an Aug. 9 letter to Judge Torres, the SEC explained it believed her decision warrants a fresh look by an appellate court. “Interlocutory review is warranted here. These two issues involve controlling questions of law on which there is substantial ground for differences of opinion as reflected by an intra-district split that has already developed,” the…

Coinbase Launches Own Blockchain as Sleuths Scour PayPal’s Stablecoin Software

Decentralized finance or DeFi ecosystems are still suffering through crypto winter, according to the analysis firm Messari. As a whole, the industry’s total value locked, or TVL – a key metric that represents collateral and deposits put into blockchain protocols – has been declining. On Ethereum, by far the biggest DeFi ecosystem, TVL dropped by 13% drop to $23 billion over the past 30 days. Optimism and Solana eked out gains. Source

Could It Make A 26% Climb?

boss

The recent drop in the price of Cardano (ADA) has raised concerns among investors as it breached the combined support of $0.3 and a crucial support trendline. However, a closer analysis of the daily chart reveals a twist that might offer a glimmer of hope for the cryptocurrency’s recovery. Technical analysis of Cardano’s price movement suggests that the apparent breakdown from the rising support trendline might be a fake one. A fake breakdown, also known as a false breakdown or a bear trap, occurs when a price temporarily drops below…

Bitcoin Miner Riot Posts Mixed Q2 Earnings Report, Sees Growing Consolidation in Industry in 2023

“Riot’s core business is Bitcoin mining, and the scale of our vertically integrated operations and financial strength allowed us to execute on our power strategy at unmatched scale this quarter, driving our average cost to mine to $8,389 per Bitcoin in the second quarter, compared to an average Bitcoin price of $28,024,” said Jason Les, CEO of Riot, in a statement. Original Source BitcoinConsolidationEarningsGrowingindustryMinermixedPostsReportRiotSees CryptoX Portal

Fireblocks Discloses ‘Zero Day’ Vulnerabilities Impacting Leading MPC Wallets

While Fireblocks says that attacks exploiting the vulnerabilities would have been “practical,” the firm believes their complexity made them difficult to discover in advance of Wednesday’s disclosure. “The chances that someone – some malicious actor from, let’s say, North Korea figured it out months before we figured it out and disclosed it to wallet providers – I would say that the likelihood of that is very, very, very low,” Fireblocks CEO Michael Shaulov told CoinDesk. Source

MakerDAO Debates New EDSR Optimization Plan As MKR Bears Retain Market Control

boss

MakerDAO has been in the headlines recently following a boost in the maximum Dai Savings Rate (DSR) from 3.19% to 8% on Sunday, August 6. This temporary increment termed the Enhanced Dai Savings Rate (EDSR), was designed to encourage more Dai (Maker’s stablecoin) holders to deposit their tokens on the Maker protocol and earn interest. Following the implementation of EDSR, the Dai token has experienced some traction, with its market cap rising by over $570 million since Sunday, according to data from CoinMarketCap.  In addition, data from the Makerburn dashboard shows…

Federal judge suggests Q2 2024 trial for SEC case against Ripple execs

boss

The judge overseeing the civil case of the United States Securities and Exchange Commission (SEC) against Ripple Labs plans to schedule a jury trial starting in the second quarter of 2024. In an Aug. 9 filing in the U.S. District Court for the Southern District of New York, Judge Analisa Torres said the court would be moving forward with plans for a jury trial for Ripple, CEO Brad Garlinghouse and co-founder Chris Larsen. The judge gave a deadline of Aug. 23 for prosecutors and defense lawyers to submit blackout dates…

Here’s how it can be used

boss

Coinbase’s Base network has officially launched after spending a few weeks in an “open for builders only” phase. The network is now ready to onboard users, according to an Aug. 9 announcement from the team. Several Web3 development teams have simultaneously announced that they are releasing apps for Base, and the network’s team has released a schedule of upcoming events to celebrate its launch. Base is open and Onchain Summer is here Become a part of Base history by minting “Base Day One” to join the story of bringing the…

Cardano-Native MuesliSwap To Refund Users After “Slippage” Misunderstanding

boss

MuesliSwap, a decentralized exchange (DEX) on the Cardano network, has announced its decision to reimburse its users that have been affected by high slippage over the past year. This is in response to the recent questions faced by the protocol on its slippage feature. Slippage refers to the price difference between when a transaction order is submitted and when the transaction is executed by the market maker and confirmed on the blockchain. MuesliSwap Acknowledges Lack Of “Adequate Clarity”  In a post on X (formerly Twitter), the team behind MuesliSwap admitted…