Day: October 27, 2023

9 protocols criticize LayerZero’s ‘wstETH’ token, claiming it’s ‘proprietary’

boss

A new bridged token from cross-chain protocol LayerZero is drawing criticism from nine protocols throughout the Ethereum ecosystem. A joint statement from Connext, Chainsafe, Sygma, LiFi, Socket, Hashi, Across, Celer, and Router on October 27 called the token’s standard “a vendor-locked proprietary standard,” claiming that it limits the freedom of token issuers. Today, we’re announcing a unified call for Open Bridge Standardsalongside @AcrossProtocol @CelerNetwork @ChainSafeth @buildwithsygma @lifiprotocol @SocketDotTech @routerprotocol and @hashialliance pic.twitter.com/D4CLw2lBD1 — Connext (@ConnextNetwork) October 27, 2023 The protocols claimed in their joint statement that LayerZero’s new token is…

Craig Wright wins in U.S. appeals court over multi-billion-dollar Bitcoin dispute

boss

Craig Wright, claiming to be Bitcoin’s creator, won a notable victory in a U.S. Appeals Court, sparking renewed discussions in the cryptocurrency community. Craig Wright, who claims to have created Bitcoin, recently won a big court case in the U.S. Appeals Court. The case was regarding Bitcoin that he and the late David Kleiman mined together over ten years ago. The court decided that Wright and Kleiman were not in a legal partnership. Now led by David’s brother Ira, the Kleiman family could not disprove the original court’s ruling, and…

Lawyer questions Sam Bankman-Fried on his political donations at trial

boss

Sam “SBF” Bankman-Fried’s defense attorney Mark Cohen heard testimony from the former FTX CEO on his relationship with Caroline Ellison and political donations from the crypto exchange. According to reports from the courtroom on Oct. 27, Bankman-Fried claimed not to have discussed donations to U.S. politicians with former FTX engineering director Nishad Singh and former FTX Digital Markets co-CEO Ryan Salame. SBF reportedly said the donations made in his name came from “loans from Alameda Research” as part of efforts to influence U.S. government’s policies on regulating crypto. “I thought…

Audits and rug-pulled projects, a $650B token burn, and major DeFi protocol quits UK: Finance Redefined

boss

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. The past week in DeFi was filled with bullish resurgences for many projects, but it was the Uniswap founder’s $650 billion HayCoin (HAY) burn — 99% of the token supply — that grabbed headlines. In other news, a new report highlighted that 85% of the rug-pulled DeFi projects in Q3 didn’t report an audit, and the largest DeFi protocol on Solana has…

Litecoin Whales Are Back In The Game, Can Price Reach $100?

boss

Litecoin (LTC) whales are making their way back into the market once more as the bull market establishes itself. A number of large transactions have been flagged which suggests that these millionaire accounts are coming out to play. Litecoin On-Chain And Whale Activity Hit 4-Month High The Litecoin on-chain and whale activity has been on the rise recently, as reported by the on-chain analytics platform Santiment. In the report posted to X (formerly Twitter), Santiment revealed that there had been a big spike in the Litecoin on-chain activity. The chart…

Those altcoins are in ‘buy zones’: analyst

Crypto analyst and YouTuber Vance says several altcoins are currently trading in prime “buy zones” and could see significant gains in the near future. In a CryptoBanter YouTube video published on Oct. 27th, Shon pointed out coins like Cardano (ADA), Gala (GALA), and SushiSwap (SUSHI) as being near key support levels and ready for a new uptrend. “Cardano is still one of my favorite ones for the the shorter time frames,” he said, referring to a chart showing Cardano at support around $0.35. “Gala popped — check that trend retest…

Chainlink leads the market with 61% weekly gain — What’s driving LINK price?

boss

Chainlink’s LINK (LINK) token surged by a substantial 61.3% from Oct. 20 to Oct. 25, reaching a peak of $11.78 and marking its highest point since May 2022. LINK’s price then stabilized around $10.50, prompting investors to question the sustainability of this new level. Chainlink (LINK) token price, 12-hour, USD. Source: TradingView It’s worth noting that this surge coincided with Bitcoin’s (BTC) 23% gain during the same period. However, LINK’s performance stands out compared with Ether’s (ETH) 14% increase and SOL’s (SOL) 28% rally, suggesting increased bullish sentiment toward Chainlink’s…

22% Price Surge In Seven Days, Network Activity Skyrockets By 350%

NEAR Protocol, a Blockchain Operating System (BOS), demonstrated notable growth in the third quarter of 2023, defying the challenging conditions of the overall cryptocurrency market.  According to a recent report by Messari, key metrics for NEAR Protocol surged significantly over the past month, buoyed by recent price increases across the crypto market. Surge In Transactions Drives Revenue Growth For NEAR Per the report, despite a moderate downturn in the crypto market, with XRP and Grayscale facing court rulings in their favor, NEAR Protocol showcased resilience. The total crypto market capitalization…