The last few days have been eventful for the crypto market following a major crash on Thursday that resulted in the loss of $1 billion in market cap. In another unnerving development, it appears that Binance, the world’s largest exchange, may be in some form of trouble as a crypto analyst shares some insight on the company. Binance To Record Heavy Losses If BNB Trades Below $212, Analyst Says According to an X post on Friday, a crypto analyst with the name MartyParty painted a rather gloomy picture for Binance…
Month: August 2023
Account abstraction will reinvent fintech industry
Disclosure: The views and opinions expressed here belong solely to the author and do not represent the views and opinions of crypto.news’ editorial. Our traditional financial industry, despite its tenacity and resilience, is beginning to show its age. The challenges that plague this sector, including its highly centralized nature, exorbitant transaction costs, and inefficient settlement times, underscore the need for transformation. It is indeed a sturdy structure, but one crafted in an era far removed from today’s rapid technological advancements and evolving consumer demands. Parallel to these traditional systems, web3…
The Lone Crypto Surging 11% In Top 100 Roster On A Weekend
Injective (INJ) has defied the prevailing downward trend to secure significant gains. While most crypto assets experienced losses, INJ has emerged as the sole gainer among the top 100 cryptocurrencies. The cryptocurrency’s price climb comes as a welcome relief to investors navigating the tumultuous waters of the market. As the cryptocurrency market grapples with a bearish start to the day, Injective (INJ) stands out with a remarkable performance. With a 10.7% rally in the past 24 hours and seven-day gains of 2.0%, INJ has managed to buck the trend and…
OpenSea Makes Shift To Optional Royalty Model
Yuga Labs – creators of the popular Bored Ape Yacht Club (BAYC) NFT collection – has unveiled its plans to cut ties with NFT marketplace OpenSea. This comes as a response to the platform’s proposed shift to an optional royalty system. On Thursday, August 17, OpenSea announced that it is changing its creator fees framework, making royalties optional for new collections after August 31, 2023. The NFT marketplace also disclosed that it would disable the Operator Filter, a feature that enforces creator royalties. According to the announcement, NFT collections that…
Elon Musk praises pro-crypto Republican presidential candidate
X (formerly Twitter) chairman and chief technology officer Elon Musk has praised Vivek Ramaswamy, the young and emerging United States Republican presidential candidate. Musk responded to a post of the presidential candidate’s interview on Tucker Carlson’s digital program, a video snippet of Ramaswamy circulating on social platforms with the text, “Vivek Ramaswamy is the youngest-ever Republican presidential candidate.” Musk’s statement, “He is a very promising candidate,” piqued curiosity about Ramaswamy’s candidacy and his stance on cryptocurrencies. Renowned for his candid opinions on digital finance and cryptocurrencies, Ramaswamy has pushed for…
What is OpenAI code interpreter, and how does it work?
When utilizing the OpenAI code interpreter, it is important to understand its capabilities, limitations and potential use cases to maximize its effectiveness. Here are some key considerations to bear in mind: Understanding the model’s limitations While the OpenAI code interpreter is advanced and capable of comprehending a wide range of programming languages, it is not infallible. It doesn’t “understand” code in the human sense. Instead, it recognizes patterns and extrapolates from them, which means it can sometimes make mistakes or give unexpected outputs. Knowing this can help users approach its…
Litecoin Plunges To Sub-$70 Level
Litecoin (LTC), the altcoin often dubbed as “silver to Bitcoin’s gold,” has found itself caught in the downward spiral of the cryptocurrency market, mirroring the struggles of its larger counterpart. While LTC’s association with Bitcoin has long been a double-edged sword, the recent price crash is putting on the spotlight the intricate interplay between these digital assets. As Bitcoin (BTC) grapples with a precipitous decline, currently trading below $26,000, the impact reverberates across the broader crypto landscape. LTC, trading at $64.15 according to CoinGecko, has encountered a 1.5% drop over…
Sam Bankman-Fried requests weekday freedom for legal defense work
Seven days following the Department of Justice’s bail revocation for disgraced FTX founder Sam Bankman-Fried, he is now seeking permission to spend five weekdays outside to collaborate with his legal team on his defense case. According to a letter sent to US District Judge Lewis Kaplan on Friday, as reported by Bloomberg, legal representatives of SBF stated that their client faced difficulties in thoroughly reviewing the extensive document accumulation related to the case while confined to the Metropolitan Detention Center in Brooklyn. In correspondence, Christian Everdell, the attorney for SBF,…
Curve Finance to reimburse users, another DeFi hack, and ConsenSys launches L2: Finance Redefined
Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week. Over two weeks after Curve Finance’s multiple pool exploits, the DeFi protocol has assured the hack victims that it is assessing each impacted user for reimbursement. This comes after the exploiter returned 73% of the stolen funds. The DeFi ecosystem moved beyond the Curve dilemma only to face another set of exploits this past week, with Zunami Protocol seeing its stablecoins pools…
Bitcoin Ordinals NFT trading volume tanks 98% since May: DappRadar
DappRadar has pointed to an “alarming plunge” in Bitcoin Ordinals nonfungible token user activity, with trading volumes tanking around a whopping 98% since May. In an Aug. 17 report, DappRadar highlighted its data showing that the total Bitcoin Ordinals sales volume had decreased from peak levels of $452 million in May to roughly $3 million as of Aug. 14. In line with that drop, the number of transactions also declined by around 97% to 20,571 within that same time-frame. Ordinals trading volume and sales count. Source: DappRadar. DappRadar described it…