In the face of these difficulties, one ray of hope has emerged: crypto grants. Organizations like Dfinity (ICP), 1inch, Uniswap Foundation, Near, Aave, the Solana Foundation and others have recognized the importance of supporting builders in the Web3 space even in the face of harsh market conditions. Source CryptoDistributeEcosystemGrants CryptoX Portal
Binance, the world’s largest cryptocurrency exchange, is currently grappling with challenges that have raised concerns about its credibility and market performance. Recent reports by Forbes shed light on Binance’s initial coin offering (ICO) and the subsequent distribution of its native cryptocurrency, Binance Coin (BNB). Behind The Curtain The investigation reveals allegations of undisclosed token retention, discrepancies in the ICO process, and the accumulation of a significant token reserve by Binance. Per the report, in June 2017, Binance initiated its ICO, aiming to raise $15 million by selling 100 million BNB…
Adam Yedidia, Sam Bankman-Fried’s college roommate and an early employee of FTX, continued his testimony on Oct. 5, the second day of former FTX CEO Bankman-Fried’s trial in New York. Yedidia was testifying for the prosecution with immunity. Under examination by Assistant U.S. Attorney Danielle Sassoon, Yedidia told the court that he started as a trader for Alameda Research and then worked for FTX as a software developer from January 2021 through November 2022, when he resigned. In the Bahamas, Yedidia was one of the “people of the house” —…
Through Blackbird, which is built on Coinbase’s Layer-2 Base blockchain, customers tap their phone on a near field communication (NFC) reader (the devices which allow smartphones to connect to payment readers) and create a non-fungible token (NFT) membership. The NFT is then minted when users “tap in” to the restaurant. Source
Sam Bankman-Fried: the Liar? Source
A crypto wallet associated with Justin Sun, the co-founder of Tron, a smart contract platform, has moved 20,000 Ethereum (ETH) worth roughly $32.4 million from Lido Finance, a liquidity staking platform. Funds were transferred to Binance, the world’s largest crypto exchange, trading volume and client count. Justin Sun’s ETH transfer from Lido Finance| Source: The Data Nerd on X The transaction, executed in a single batch, was captured by The Data Nerd, an analysis platform, and shared on X on October 5. As it is, Ethereum (ETH) is under pressure, looking…
Sam Bankman-Fried’s trial has entered its third day, as the FTX founder is facing seven different charges of wire fraud and money laundering. After jury selection ended on day 2, both sides geared up with key witnesses to present their case. Senior District Judge Lewis A. Kaplan is presiding over the case, and Assistant U.S. Attorney Nicolas Roos is leading the prosecution. The defense is being led by Mark Cohen. So far, three witnesses have been questioned and cross-examined. However, more than 22 key witnesses are set to appear throughout…
Central bank digital currencies (CBDCs) have emerged as a prominent topic in the financial world. They promise elevated stability, security, efficiency, and reduced corruption. Central banks, the International Monetary Fund, the World Economic Forum, and the World Bank tell us CBDCs are a panacea waiting to cure all that ails our financial system. Unfortunately, those claims may not match reality, because there are two characteristics of CBDCs that their proponents don’t often mention. First, they offer an eternal trail of data about how you’re spending your money. Secondly, they are…
Gary Wang, the co-founder and former chief technology officer of cryptocurrency exchange FTX, was the latest witness to testify in the criminal trial of former CEO Sam “SBF” Bankman-Fried. According to reports from Inner City Press, Wang addressed the courtroom on Oct. 5 following testimony from former FTX developer Adam Yedidia and Paradigm co-founder Matt Huang. The former CTO reportedly admitted to committing crimes during his time at FTX with the help of Bankman-Fried, former Alameda Research CEO Caroline Ellison and former FTX engineering director Nishad Singh. “We allowed Alameda…
A crypto YouTuber has revealed his Bitcoin exit plans to the public, stating that he would only withdraw from the cryptocurrency once BTC reaches a staggering $142,000. It is important to note that Bitcoin is presently trading below the $30,000 mark. Hence the popular YouTuber may have to wait a few years before leaving the market for good. Crypto YouTuber Sets Price For Bitcoin Exit A crypto investor and YouTuber, ‘InvestAnswers’ recently published a YouTube video that featured a question-and-answer session with his subscribers. In the video, the YouTuber discussed…