Day: October 27, 2023

Changpeng Zhao Loses Another $12B of His Fortune amid Regulatory Scrutiny

Zhao’s woes and those that are related to his exchange have been largely a result of the ongoing lawsuits against them. Binance co-founder and CEO Changpeng Zhao continues to see his fortune slashed after he reportedly lost another $11.9 billion, according to the Bloomberg Billionaires Index. This brings his total fortune loss from the January 2022 peak of $97 billion to around $80 billion. Zhao Is Losing His Wealth, Here’s Why As of publication, Zhao’s crypto empire is now worth a measly $17.3 billion, a far cry from what it…

Solana Labs Launches Web3 Incubator Program

Solana Labs is inviting startups to take part in the Incubator program. They have time till November 30 to submit their applications. Ecosystem builder Solana Labs has announced the launch of its Solana Web3 Incubator program. Speaking on the development, the Product Manager at Solana Labs, Emon Motamedi noted that Web3 start-ups require time and resources to build new solutions that benefit their audience. Motamedi identified that these founders frequently face challenges relating to Web3 integrations and fundraising. “Our priority is to remove the biggest obstacles currently facing founders so…

dYdX Chain Launches Mainnet as Independent Cosmos Layer 1

This shift denotes a substantial evolution for the project, moving it to a standalone Cosmos-based blockchain after previously relying on Ethereum Layer 2 scaling solution StarkEx. dYdX Chain has marked a major milestone by officially launching its mainnet as an independent Cosmos Layer 1 blockchain. This launch, which occurred with the creation of the genesis block by validators on October 26 at 1 p.m. EST, represents a monumental step forward for the leading decentralized derivatives trading platform. The mainnet activation signals the transition to dYdX version 4 and its new…

Crypto wallet Trezor looks into phishing campaign, exec says

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Cryptocurrency hardware wallet provider Trezor is investigating a recent phishing campaign, as users have reported receiving phishing emails. The anonymous blockchain sleuth ZachXBT took to his Telegram channel on Oct. 26 to alert users to a phishing attack targeting Trezor customers. ZachXBT referred to an X (formerly Twitter) post from the account JHDN, which alleged that Trezor may have been breached after receiving phishing emails on the email account used specifically for buying the wallet. In a similar manner to some Trezor-related phishing attacks in the past, the phishing email invites users…

Xiaomi Rolls Out New Operating System HyperOS to Revolutionize User Experience 

Xiaomi’s founder and chairman of the board Lei Jun said it took approximately 5000 software engineers’ combined efforts to develop the new operating system. Chinese smartphone maker Xiaomi has announced the launch of its cutting-edge operating system HyperOS after five years of dedicated hard work and research. The new OS, unveiled Thursday during the company’s launch event theme “Leap Beyond the Moment”, will debut alongside Xiaomi’s upcoming range of smartphones, wearables, and TV sets on October 31. Xiaomi’s New Operating System HyperOS to Be Available Xiaomi 14 Series In an…

Ford Misses Wall Street Expectations for Q3 2023 amid Pending Deal

The recent work stoppage by the United Auto Workers (UAW) union impacted the company’s ability to meet its financial targets. On Thursday, October 26, Ford Motor Co (NYSE: F) reported its Q3 2023 earnings while missing Wall Street expectations. The company has been restructuring its operations and regrouping after the conclusion of nearly six weeks of US labor strike that cost the company a staggering $1.3 billion. Ford in Q3 2023 In the third quarter, Ford reported a shift to net income, posting $1.2 billion, equivalent to 30 cents per…

LINK Rides Bullish Waves With 43% Gains, Is $15 Possible?

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LINK recorded impressive gains in the past week, with an over 43% seven-day price increase. However, the token’s price has slightly retraced in the last 24 hours, likely due to buyers taking profit after an aggressive accumulation phase for LINK tokens.  Chainlink’s notable uptick could be due to the ongoing bullish waves in the broader crypto market. Bitcoin, the flagship cryptocurrency, recorded a significant uptick, surging to nearly $35,000, the highest in over a year.  Bitcoin’s performance triggered a wave of optimism across the crypto market, causing most coins, including…

SEC’s Potential Approval of Bitcoin ETFs Sparks Speculation and Legal Concerns

While the prospect of a Bitcoin ETF is undoubtedly exciting, it is essential to acknowledge the potential challenges and roadblocks that may surface. The crypto community is abuzz with anticipation as the US Securities and Exchange Commission (SEC) considers multiple filings for spot Bitcoin (BTC) Exchange Traded Funds (ETFs). SEC Chair Gary Gensler recently revealed that the regulatory body has between eight to ten such filings on its plate for consideration. Bitcoin’s Rally and Market Response The news has had a significant impact on the cryptocurrency market, with Bitcoin experiencing…

Crypto Funds AUM Jumped to $31.7B in October With SOL-Based Products Seeing a 74% Rise: CCData

“October has seen major developments in the digital asset space,” CCData said in a report shared with CoinDesk. “To start, six ETH Futures ETFs commenced trading on the 2nd, giving investors exposure to ETH futures. Shortly after, Bitcoin’s price surged by 7.56% in less than an hour to a peak of $30,009 driven by rumours regarding the approval of BlackRock’s application.” Source