Month: August 2023

Alameda Research tied to Bald coin crash: Wintermute researcher

Amid the controversy of Bald meme coin’s abrupt rug pull performance, Wintermute’s Igor Igamberdiev, steps into the spotlight to uncover where the funds have gone. Crypto Twitter has been sent into a tailspin following the alleged rug pull of the Bald meme coin, prompting blockchain investigators to delve deep into the precedents leading up to this incident. Bald meme coin has become a hot topic in the crypto ecosystem, skyrocketing to a market capitalization of $85 million at its apex. The rise was then followed by a heavy decline in…

Over $28 Million In SHIB Withdrawn From Exchanges Ahead Of Shibarium Launch

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The Shibarium Layer-2 upgrade is launching any day now, and it looks like some big SHIB players are making moves ahead of the launch. According to on-chain data, over $28 million in SHIB tokens have been withdrawn from major crypto exchanges in the just concluded month of July.  Massive Withdrawals Signal Investor Interest in Shibarium According to data shared on Twitter by crypto analyst Ali Martinez, backed up by on-chain chart data from IntoTheBlock, around 3.30 trillion SHIB were withdrawn from known crypto exchanges in July, the highest SHIB withdrawal…

Lightspark CEO Outlines The Challenges Of Building On The Bitcoin Lightning Network

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The CEO of Lightspark, David Marcus, has come forward to share his experiences on building atop the Bitcoin Lightning Network. Marcus noted the challenges the Lightning Network held for builders, stating that it was incredibly difficult and complex to develop software around the protocol. The Bitcoin Lightning Network And The Challenges It Holds for Builders According to the Lightspark CEO, a firm involved in developing payment solutions on the Lightning Network, a layer-2 scaling platform for Bitcoin, the firm decided to build on the network because of the “unique qualities”…

MicroStrategy Plans Up to $750M Stock Sale to Fund Bitcoin Purchases, Other Things

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Michael Egorov’s $100 Million Position, A Risk To Curve Finance And DeFi?

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Following the recent exploit of Curve Finance pools, there have been genuine concerns about the stability of the decentralized exchange and the Decentralized Finance (DeFi) ecosystem. A new report has emerged, raising questions about Curve founder Michael Egorov’s $100 million loan positions. These positions have garnered significant interest, as they are backed by about 47% of the entire CRV circulating supply. With the price of CRV dwindling, these debts appear to be at risk of liquidation, putting the Curve protocol, CRV investors, and the overall DeFi space on edge.  A…

Bitcoin Rebounds to $29.2K, Recovering From DeFi Fears; CRV Jumps 5%, XRP Rises

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Ether (ETH), the second largest crypto in market value, was recently changing hands at $1,850, off 0.3% from Tuesday same time. SOL and ADA, the tokens of smart contracts platforms Solana and Cardano, were a few fractions of a percentage point in the red, while Ripple’s XRP was up slightly, despite a court ruling casting doubt on its partial legal win against the Securities and Exchange Commission (SEC) last month. Original

New Exhibit Uses AI to Recreate Allen Ginsberg Poetry

“In celebration of Ginsberg’s avowedly experimental impulses, this collaboration utilizes an AI-powered camera to ‘read’ a selection of Ginsberg photographs on view during the exhibition, translating his iconic vision of American counterculture into poetic responses influenced simultaneously by Ginsberg’s canon, his undeniable presence woven inextricably into the written record of the internet, and parsed by AI,” the gallery writes in its description of the exhibition. Source

GameStop will stop support for its crypto wallets, citing ‘regulatory uncertainty’

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Gaming retail company GameStop has announced it will remove its digital wallets from the market starting in November, citing “regulatory uncertainty of the crypto space.” In a notice posted to its website, GameStop said iOS and Chrome Extension wallets will no longer be available starting on Nov. 1, advising users to ensure they have access to their secret passphrases by Oct. 1. The wallets, launched in May 2022, allow users to manage cryptocurrencies and nonfungible tokens, or NFTs. GameStop notice to users of its crypto wallets. Source: GameStop GameStop, once…