Day: November 10, 2023

Lloyds Bank issues urgent warning of crypto scams in the UK

A recent press release issued by Britain’s Lloyds Bank shares that crypto scams that have surged 23% over the course of the year. Young investors between the ages of 25 and 34 years old are said to be the most prevalent target for these attacks. Social media home base The press release goes on to report victims of crypto investment scams are facing an average loss of £10,741, marking an increase from the previous year’s £7,010.  Additional data goes on to state that 66% of all investment scams originate on social media…

Steer Protocol Partners with Sushi for Enhanced Liquidity: Smart Pools Integration

With this integration of Smart Pools, users can now earn higher yields without the hassle of manually rebalancing their liquidity. Decentralized finance (DeFi) network Steer Protocol has teamed up with Sushi to integrate its innovative Smart Pools into the ecosystem. According to the announcement, the collaboration aims to revolutionize liquidity management and provide a seamless experience for Liquidity Providers (LPs) within Sushi’s Concentrated Liquidity Pools. Smart Pools Now Fully Integrated into Sushi The DeFi ecosystem heavily relies on LPs, yet the challenges they face in generating yield are undeniable. However,…

Justin Sun’s Move Against Poloniex Attackers

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Crypto exchange platform Poloniex was attacked by a bad actor, losing over $60 million of its customer’s funds. The Justin Sun led the exchange and launched an investigation, which remains ongoing, to determine the identity of the attackers. Poloniex Makes Offering To Attackers The crypto analytics platform Nansen data indicates that over $68 million in tokens left Poloniex over the past day. The image below shows that the attacker stole assets in ETH, BADGER, REN, OKB, NEXO, and 170 other tokens. Assets that reported the most losses on Poloniex hack…

Bitcoin ‘Terminal Price’ hints next BTC all-time high is at least $110K

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Bitcoin (BTC) may next be a “sell” at at least $110,000 as its new bull cycle plays out, a classic on-chain indicator suggests. Data from on-chain analytics platform Look Into Bitcoin shows Bitcoin’s Terminal Price hinting at a possible six-figure BTC price top. BTC price to six figures next cycle? As BTC price action circles its highest levels in 18 months, forecasters are already considering how high it could go in the coming months and even years. After the next block subsidy halving in April 2024, targets include $130,000, with…

Why Path To $2,500 Is Now All Clear

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On-chain data suggests the path to $2,500 could be open for Ethereum now that the asset has managed to cross the $2,100 mark. Ethereum Has No Major Resistance Levels Until $2,500 In a new post on X, the market intelligence platform IntoTheBlock has provided an update on how the Ethereum levels are looking in terms of on-chain support and resistance. In on-chain analysis, ranges are defined as support or resistance based on how many investors acquired their coins inside them. The below chart shows the density of addresses at various…

Genesis seeks court’s approval to reduce Three Arrows Capital claim from $1B to $33M

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Bankrupt cryptocurrency lender Genesis has asked the court to approve its proposed settlement agreement with imploded crypto hedge fund Three Arrows Capital (3AC). According to a court filing on Nov. 9, Genesis argued that the 3AC debtor should receive an allowed general unsecured claim against Genesis in the amount of $33 million. The amount accounts for 3.3% of $1 billion in claims originally asserted against Genesis debtors. “Agreement provides that the 3AC debtor shall receive an allowed general unsecured claim against GGC in the amount of $33 million in full…

JPMorgan rolls out programmable payments for institutional blockchain platform JPM Coin

Multinational banking firm JPMorgan has rolled out a programmable payment feature for institutional users of its private blockchain platform JPM Coin. Naveen Mallela, who heads up JP Morgan’s bank-led blockchain platform Onyx, shared details of the new functionality on LinkedIn via an initial report from Bloomberg. According to Mallela, the programmable payments feature is now available to all its institutional clients. The capability is said to enable real-time, programmable treasury functionality and new digital business models. Mallela hailed the launch as a significant milestone in the evolution of JPM Coin and described…

TON Network Begins Global Rollout of Wallet on Telegram 

Telegram is committed to providing TON with the necessary tools and infrastructure to cater to its 80 million global customers. The Open Network (TON) has begun the official rollout of its self-custodial Wallet on Telegram, choosing Africa as the frontier for the new project. In an announcement on X, formerly Twitter, Andrew Rogozov, the founder and CEO of The Open Platform, the brains behind the development of the blockchain, said the Wallet will first be made available to selected countries in Africa before expanding to other regions around the world.…