Month: September 2023

Marieke Flament to step down as CEO of the NEAR Foundation

Marieke Flament, the CEO of the NEAR Foundation, the self-proclaimed blockchain operating system for an open web, announced her resignation after holding the position for two years. Chris Donovan, the foundation’s general counsel, will go on to take her place as the new CEO. An advocate for decentralization In the personal message, Marieke stated, “Two years ago, I had never heard of NEAR. Upon doing a bit of research and after several conversations, it became clear that NEAR had a tremendous potential – fantastic tech, a diverse and vibrant community and…

Post.Tech generates $3m in daily volume on L2 Arbitrum

Daily transaction volume on Friend.Tech clone platform Post.Tech exploded by nearly 8,000% with 136,000 transactions in 24 hours. The decentralized protocol runs atop Ethereum layer-2 network Arbitrum. Users opined that Post.Tech seems like a fork between X, Elon Musk’s Twitter rebrand, and the viral decentralized mobile app Friend.Tech which operates on Coinbase-backed layer-2 blockchain Base. On both platforms, users can buy and sell access keys to gated communities moderated by other users, typically popular influencers and social media creators in crypto.  Post.Tech homepage | Source: Post.Tech Friend.Tech and Post.Tech both…

PancakeSwap launches fiat crypto selling with new partnership

PancakeSwap, a decentralized exchange (DEX), has partnered with fiat-to-crypto gateway Transak to allow users to directly purchase cryptocurrencies on its platform. According to a Sept. 21 announcement, this new integration enables PancakeSwap users to buy crypto using various fiat payment methods including credit cards, bank transfers, Google Pay and Apple Pay. Previously, users had to purchase crypto on a separate platform before transferring it to a wallet address and use PancakeSwap. This announcement follows the unveiling its highly anticipated version 3 (V3), which brings a suite of new features and…

XRP keeps rising as whale moves $213M all at once

An unknown party moved over 418 million XRP in a single transaction as the token’s price keeps rising following recent legal developments. The Sept. 21 transaction is worth over $418 million, and it follows XRP seeing a 3.44% price increase to $0.51 over the last seven days after positive news concerning the legal battle between Ripple — the firm behind XRP — and the U.S. Securities and Exchange Commission (SEC). This transaction follows a series of legal victories for XRP against the SEC, which significantly impacted the ongoing debate surrounding…

Base surges past Solana as total value locked nears $400M

boss

The total value locked (TVL) on Coinbase’s layer 2 network Base has surged to $397.32 million in roughly a month and a half since launching in August. That figure now places Base ahead of the Solana network in terms of TVL, which has $358.96 million at the time of writing. The past 30 days have been significant for Base, with data from DeFi Llama showing that the network’s TVL increased by a whopping 97.21% over the past month. In comparison, Solana’s TVL has decreased by 9.64% over that same time…

The journey to 1,000 parachains

Polkadot (DOT), an avant-garde interoperability network, is set to undergo transformative expansion, with plans to enhance its ecosystem by introducing the asynchronous backing update. Currently, the ecosystem accommodates a limit of 100 parachains—individual blockchains interlinked within Polkadot’s structure. Yet, the core developers are ambitiously pushing towards a future where this number could burgeon to 1,000 parachains. This amplification isn’t just about numbers—it’s about harnessing technology to redefine scalability in the world of blockchain. 📺 Head to Polkadot’s YouTube channel to watch all presentations from #sub0, The Polkadot Developer Conference. 💭…

FTX CEO’s Asset Recovery Escalates As Sam Bankman-Fried Trial Looms

boss

In a battle to recover billions of dollars following the collapse of FTX, Chief Executive and Restructuring Officer John J. Ray III, is intensifying efforts just weeks before FTX founder Sam Bankman-Fried faces trial in what has been labeled one of the largest financial frauds in American history. Bankruptcy court proceedings kicked off the week as FTX filed a lawsuit against Bankman-Fried’s parents, Allan Joseph Bankman and Barbara Fried.  The suit aims to reclaim millions of dollars allegedly fraudulently transferred and misappropriated by the couple, who purportedly took advantage of…

Top US Crypto Exchange Coinbase Adds Trading Support for New Under-the-Radar Layer-1 Project

boss

Customers at Coinbase can now trade the native token of a nascent layer-1 project called Vara Network (VARA). The top US crypto exchange rolled out support this week for VARA, the native asset of Vara Network, which just celebrated its mainnet launch on Wednesday. The project is an independent decentralized layer-1 network that aims to enable “the best playground” for next-gen gaming and financial-based applications. It’s built on the Gear Protocol, a Substrate-based smart-contract platform. Says the Vara website, “Building on Vara Network is ideal for both developers already in…

CRV Spikes 22% In 2 Weeks As Whale Withdraws From Binance

boss

CRV, the native currency of Curve Finance, the decentralized exchange focused on stablecoins, is shaking off August’s weakness and printing higher highs when writing on September 22. Trackers reveal that CRV is up 22% in the past two weeks, adding 10% in the last week alone. Coincidentally, there has been increased activity from a whale moving CRV from Binance, the world’s largest crypto exchange by client count. Whale Offloads CRV From Binance To Curve Finance According to The Data Nerd, a tracker, a whale transferred 1.542 million CRV, worth roughly $684,000, from Binance.…

Balancer DAO salutes defi response team for aid in $230K UI exploit

Balancer DAO, a decentralized autonomous organization governing the protocol, protocol thanked a team of security experts for their help following a DNS attack on a top level .fi domain registrar employed by Balancer. Balancer DAO called attention to SEAL 911, a Telegram bot built during the Curve Wars that ensued following the Curve Finance exploit. The bot operates as an emergency channel that connects users and protocols to a pool of vetted defi security experts. The Balancer DAO would like to express its heartfelt gratitude to all ecosystem members who…