A notice posted on the Securities and Futures Commission website states that HTX’s company in Hong Kong, formerly known as Huobi, has withdrawn its application for a licence to trade virtual assets. Three days after submitting, HTX withdrew their application, according to the SFC website. According to a June 2016 report, Justin Sun estimated that
OKX has launched as a cryptocurrency exchange.TR, or Trading Pairs, is a Turkish Lira-denominated localised version of the marketplace. “We view Turkey as a unique and significant market.” According to OKX President Hong Fang, in a CoinDesk interview, “it ranks highly in terms of crypto adoption and crypto transaction volume.” In Turkey, people have a
As of right now, there are no particular accounting guidelines created just for cryptocurrency trading or cryptocurrencies. Rather, basic accounting principles like generally accepted accounting practice (GAAP) and the International Financial Reporting Standards (IFRS) are used to handle accounting for cryptocurrencies. The income statement, cash flow statement, and balance sheet are the three core financial
Social tokens are a transforming phenomena that is becoming increasingly prominent in school clubs. These digital resources, which are firmly based in blockchain technology, transform school clubs’ operations, member engagement, and fundraising strategies. The amazing effect that social tokens have on school groups is examined practically in this essay. School clubs nowadays serve as sites
The buying pressure in the United States drove Ether’s 11% increase over the last week, according to statistics from CryptoQuant, a platform that monitors exchange activity locally.The “Coinbase premium,” a measure of the difference between Coinbase’s ETH/USDT pair and Binance’s ETH/USDT pair, indicates that a surge in demand from the regulated exchange Coinbase (COIN), which is most well-known in the United States, came before a spike in ether (ETH) prices. “The recent Ethereum price action was driven by the US demand,” CryptoQuant’s head of marketing, Ho Chan Chung, said in a Telegram message. “We can clearly see that the Coinbase has triggered the upward movement with the premium index.” The indicator is beginning to increase once more, pointing to further price increases in the upcoming weeks.Although Binance, which originated in China, is one of the most well-liked exchanges among traders in Asia, Coinbase is more well-liked by traders in the United States and Europe.There might have been a spike in demand for the asset in the area to purchase spot ether ETFs due to expectations of approval for a potential ETF in the United States.In January, seasoned and successful traders began increasing their exposure to ETH. Even while there has been a noticeable increase in interest in ether bets, some traders believe that an ETF could lead to steady growth for the second-largest cryptocurrency by market value rather than rapid development.Applications for an ether ETF had been submitted as of Tuesday by Hashdex, BlackRock, Fidelity, Ark and 21Shares, Grayscale, VanEck, Invesco and Galaxy, and Franklin Templeton.Over the last day, ETH has increased 6.5%, but the CD20 index of the overall market has increased 8.1%.
In a move that came less than a week after its well-publicized separation from blockchain lending platform Aave, cryptocurrency risk manager Gauntlet said on Tuesday that it is joining up with competitor decentralized lender Morpho.In line with the new strategy, Gauntlet will develop its own loan products and will rely on MorphoBlue, a service that was introduced by Morpho in January and lets anyone build a lending pool for a specific pair of digital assets. MorphoBlue is a direct rival to Aave. “Gauntlet has decided it could better pursue its mission of making DeFi safer and more efficient by joining forces with Morpho, which endorses a layered risk management approach rather than the traditional monolithic approach,” Gauntlet said in a statement shared with CoinDesk. The ability for consumers to lend and borrow cryptocurrency without the need for conventional middlemen unites Aave and Morpho.However, Gauntlet co-founder John Morrow surprised everyone last week by announcing that his team was leaving Aave because they “found it difficult to navigate the inconsistent guidelines and unwritten objectives” of the lender’s “largest stakeholders.” Originally, Gauntlet was contracted to help Aave manage risk starting in 2021. The sudden split left some in the crypto industry perplexed, but the Morpho announcement may help clarify Gauntlet’s reasoning for calling it quits.Using a brand-new tool called MetaMorpho, which enables “risk curators” (like Gauntlet) to establish pools, control their risk criteria, and receive related fees, Gauntlet will administer its MorphoBlue pools.The Morpho model is intended to be more efficient than Aave’s from a risk management standpoint, hence Gauntlet’s adoption of Morpho may be seen as a jab at its former partner.But when considered strictly from a commercial perspective, Gauntlet’s justification for changing sides might make the most sense because it gives the risk manager the chance to make more money with more flexibility. DefiLlama reports that Aave leads the decentralized lending market by a wide margin, with over $9 billion in total value locked (TVL).The Aave DAO, a group of token holders who collectively control governance powers over the protocol, is in charge of overseeing Aave’s lending pools.The DAO compensates “risk stewards” (such as Gauntlet, until last week) to conduct analysis and provide input on significant choices. The DAO frequently votes on modifications to risk parameters.Although Aave’s risk stewards are granted restricted emergency controls to assist protect the protocol, community votes are typically held to make changes to risk parameters, which can be a laborious process considering the hundreds of risk parameters that Aave has to monitor on a daily basis. Initially, Morpho was one of Aave’s largest customers, contributing over $1.5 billion to the lender through its “Morpho Optimizers,” which enable investors to receive higher returns on their Aave deposits.Streamlining is the goal of Morpho’s new rival service, which gives risk managers direct management over their MorphoBlue pools.In addition to having direct control over the fees they charge customers, MetaMorpho’s “risk curators” oversee risk management duties for the pools they establish, including establishing collateral requirements, borrowing limitations, and other guidelines.Risk managers “answer to the DAO” on Aave, according to Nick Cannon, vice president of growth at Gauntlet, who spoke with CoinDesk this week.“Morpho,” contrary to popular belief, “makes Gauntlet and other risk curators closer to a first-class person.” After Gauntlet’s Aave exit was announced last week,
Investment banking firm Benchmark stated in a research report on Tuesday that it began covering the stock that MicroStrategy (MSTR) has a unique business model centered on the acquisition and holding of bitcoin (BTC), which accounts for the majority of the software company’s valuation.The shares are rated as buy by Benchmark, with a $990 price target.In early Tuesday trading, MicroStrategy gained around 8% to $860.75. “We believe the boost in demand for bitcoin resulting from the launch of multiple spot bitcoin ETFs, combined with the reduced pace of supply resulting from the halving, has the potential to drive the price of the cryptocurrency meaningfully higher during the next couple of years,” analyst Mark Palmer wrote. When bitcoin halving occurs,
An article by community member Gas404 on Medium claims that malicious code has been inserted into the protocol’s back end, putting user deposits on token mixer Tornado Cash at risk. A two-month-old governance proposal submitted on January 1st by a claimed Tornado Cash engineer contained malicious JavaScript code, as explained in the post.The accused developer’s public server is the destination of deposit data that is redirected by the code.In addition to allowing for deposit theft, the exploit’s primary purpose is to reveal Tornado Cash deposit information.Gas404 claims that out of the batch visible on etherscan, one deposit was taken. Following Tornado Cash’s sanction by the Office of Foreign Asset Control (OFAC) of the U.S. Treasury Department in August 2022, trade volume plummeted by over 90%.According to Gas404, Tornado Cash ought to go back to the IPFS ContextHash deployment from an earlier iteration of TornadoCash.
Among the few new “data availability” blockchain initiatives, Avail was created to manage transaction data generated by the networks’ increasing expansion. On Monday, the venture capital firms Founders Fund and Dragonfly spearheaded the $27 million funding campaign for Avail.Funds from the seed round will be used by Avail, which was spun off of Polygon in March 2023 and is headed by Anurag Arjun, a Polygon co-founder, to develop its three main products: its data availability solution (DA), Nexus, and Fusion, which are together referred to as the “Trinity.” The first essential component, Avail DA, provides data space information for auxiliary “layer-2 networks” or “rollups” that are intended to process transactions more quickly and affordably than on Ethereum-based foundation blockchains.It is anticipated that the new DA project will launch early in 2024’s second quarter.The rise of these data availability solutions has been one of the most talked-about developments in the cryptocurrency space because it may contribute to the development of a more “modular” architecture for blockchain systems, where essential tasks like data processing and transaction execution might be handled independently. With initiatives like EigenDA, which is presently under development, and Celestia, which went live in October of last year, they gained attention.The latter project is being worked on by EigenLabs, the company that created the restaking protocol EigenLayer. In order to continue developing its products, EigenLabs raised $100 million from the venture capital firm a16z last week. Avail Nexus is a “zero-knowledge, proof-based coordination rollup on Avail DA,” which means, according to a press release reviewed by CoinDesk, that it would function as an infrastructure layer that links other rollups through the Avail ecosystem to communicate with one another.“Serving as the verification hub that unifies a broad range of rollups both inside and outside the Avail ecosystem, using Avail DA as the root of trust,” is how it will be described.By utilizing cryptocurrency assets like ether (ETH) and bitcoin (BTC), the project’s “Fusion Security” will enhance the security of the Avail ecosystem.The company states that Fusion Security will be available in 2025 and that Nexus’ initial version is anticipated to launch in 2024. The rollups space on Ethereum is fragmented, with major teams competing for many of the same users. Arjun, the Avail co-founder, argues that there is a need to work together with these rollups in order to make the user experience more unified. “You really need a credible third party like Avail
During Friday’s 60% increase to $12.80, a wallet that was given 5.44 million uniswap (UNI) tokens in 2020 sold 90,000 of them for $1.03 million.According to blockchain analytics company Lookonchain, the wallet might belong to a team member or an early Uniswap investor. In 2018, Uniswap, a decentralized exchange (DEX), was introduced.In 2020, it gave early adopters access to an airdrop of UNI, a governance token.Following the submission of a governance proposal that recommended rewarding holders who had staked or delegated their UNI tokens, the token saw a spike on Friday. Despite selling over 9% of its 926,000 UNI tokens on Friday, the wallet in question still has $10.6 million worth of tokens in it.The transaction signaled the peak of UNI’s growth.Then the price dropped again.On Monday, it increased by 0.8% to $10.40, a 19% decrease from its peak on Friday, while the broad CD20 gauge hardly changed. The decentralized finance system Frax Finance submitted a proposal on Monday that was comparable to Uniswap’s governance concept.Initial reaction to the news saw a 16% increase in the frax shares token (FXS).
MicroStrategy (MSTR), the biggest corporate bitcoin (BTC) owner, has brought its overall holdings to 193,000 coins after spending $155 million to buy an extra 3,000 tokens. The tokens were purchased at an average cost of $51,813 apiece during the period of February 15 to February 25, as stated in a filing with the SEC. Michael
Frax CEO and founder Sam Kazemian suggests that the core team behind the decentralised finance (DeFi) protocol Frax Finance may soon decide to adopt Uniswap’s proposal, which is the top DEX, to give stakers of its native token a share of protocol fees. Declared The utility token and governance of the ecosystem is (FXS). In
The first rug pull event occurred in the Blast ecosystem when the gambling and trading site RiskOnBlast vanished, taking with it approximately 420 ether raised from individual traders. After raising more than $1 million from investors, the mysterious RiskOnBlast team sent almost $500,000 to ChangeNow, $360,000 to MEXC, and $187,000 to Bybit. A project vanished
On February 25, the decentralized blockchain network Aleo made certain user data public, according to X (previously Twitter) sources.The platform leverages a third-party protocol for Know Your Customer (KYC) and focuses on zero-knowledge (zk) cryptography.Aleo submitted KYC documents to his email by mistake, according to a user going under the alias @0xemirsoyturk.He became concerned about the protection of his personal information after seeing selfies and images from another person’s ID card in these documents.The story was corroborated by another user, @Selim_jpeg, who said he received the KYC paperwork of another individual in his inbox. In compliance with Aleo’s internal regulations, users must successfully complete KYC/AML and pass the Office of Foreign Assets Control (OFAC) screening in order to be eligible for a reward on the platform.This procedure must be finished in order for people to register for HackerOne, a third-party protocol that gathers users’ unencrypted KYC information. The goal of zero-knowledge layer-1 blockchain systems is to give users more security and anonymity.They ensure anonymity by enabling transactions without disclosing precise details through the use of zero-knowledge proof cryptography techniques.This privacy-centric strategy gives users more control over their data by making it difficult for outside parties to track down or access critical information.By improving privacy, these platforms hope to increase participant security and confidentiality in blockchain transactions. The creator of layer-1 blockchain infrastructure Galactica, Mike Sarvodaya, told Cointelegraph that such a protocol should never, in theory, permit access to user data.He declared: “It’s ironic that a protocol for programmable privacy uses a third party to collect users’ unencrypted KYC data after that leaks to the public. Apparently, when your zk stack is so advanced, you might just forget how to practice basic opsec.” Sarvodaya claims that the Aleo case paradoxically emphasizes how important it is to develop zero knowledge or fully homomorphic encryption (FHE)-based storage and proof systems for sensitive data, such as Personally Identifiable Information (PII).Protocol guidelines in these systems need to guarantee that data is not disclosed by a single party.Aleo Foundation executive director Alex Pruden told The Block that the Aleo mainnet, which will provide privacy to cryptocurrency transactions, will launch in the coming weeks after a few last bugs are fixed.
According to sources familiar with the situation on Saturday, chipmaker Broadcom (AVGO.O) is closing on a $3.8 billion deal to sell its business, which enables customers to access desktops and applications from any device, to private equity company KKR (KKR.N).CEO of Broadcom Hock Tan is attempting to simplify the company’s offerings with this possible deal, following the completion of his $69 billion acquisition of software maker VMware in November. According to the sources, KKR beat out other private equity firms, including as EQT (EQTAB.ST), in the auction for the end-user computing (EUC) unit.The sources indicated that the deal might be revealed as early as Monday. KR declined to comment, citing confidentiality in the case.Requests for comments were not immediately answered by EQT or Broadcom.In December, Broadcom said that it planned to sell its end-user computing division.It is also making a separate effort to sell off VMware’s Carbon Black security software division. In the industry, KKR is no stranger to closing deals.It paid $8.5 billion in 2018 to acquire the American business software company BMC, and two years later it merged BMC with Compuware, which it had previously bought from Thoma Bravo, a buyout group.For roughly $1.7 billion in 2021, private equity firms Charlesbank Capital Partners and M/C Partners sold their information services technology business, Ensono, to KKR.According to the sources, Citigroup is advising Broadcom on the deal, while Evercore, Deutsche Bank, and Jefferies are advising KKR.Debt financing for the purchase is being provided by KKR’s capital market subsidiary, Jefferies, and UBS Group.
During the global debut of its new Magic 6 Pro smartphone on Sunday, Chinese tech giant Honor unveiled an eye-tracking AI experiment that lets customers remotely open and move their cars by simply staring at the screen of their phone.The company is aiming to integrate the technology commercially internationally, and it is currently available in China.Honor, which was acquired by state-owned Shenzhen Zhixin New Information Technology Co. in November 2020 after being acquired by Huawei Technologies [RIC:RIC:HWT.UL], had only made its new phone available in China up until Sunday. In an attempt to capitalize on the excitement around generative AI, tech and telecom companies are introducing new features and products ahead of the annual Mobile World Congress (MWC), which gets underway in Barcelona on Monday.Smartphone manufacturers are hopeful that the buzz surrounding AI will stimulate the stagnant smartphone industry, despite the fact that many experts believe generative AI could give rise to unethical or legal issues.In addition to competing with companies like Apple (AAPL.O) and Oppo for market share in China for smartphones, the company is also attempting to internationally integrate the LlaMA 2 large language model (LLM), a technology that is akin to ChatGPT, into its phones. According to International Data Corporation, Apple held a 17.3% market share in China in 2023, while Honor held a 17.1% share.Along with the debut of its latest laptop, the MagicBook Pro 16, Honor on Sunday also unveiled an AI function that lets users drag and drop messaging apps between devices, including an Android smartphone and a Windows PC. “We firmly believe in the transformative power of collaborative synergy, especially in the era of AI,” said the company’s CEO George Zhao in a statement.
The Fourth Procuratorate of the SPP’s Zhang Xiaojin allegedly alerted the public and users of digital assets to investment frauds in the region’s cryptocurrency market. The Chinese Supreme People’s Procuratorate (SPP), the nation’s top prosecuting body, is pursuing offenders who use blockchain and metaverse initiatives for illicit purposes in an effort to combat the rise
The temporary restraining order was obtained in order to “preserve the status quo,” according to the court document, and it will expire before March 25. A US District Judge has ruled in favour of the Texas Blockchain Council (TBC) and Bitcoin mining company Riot Platforms in their legal battle against multiple US energy agencies. According
ZachXBT, a blockchain investigator, reported that he had recovered most of the money from a stolen DeGods NFT that was sold in May 2023 following a “lengthy process.” The majority of the proceeds from the sale of a rare DeGods non-fungible token (NFT), which was taken in May 2023 after its original possessor fell for
When selecting four Bitcoin ETFs for listing, the $30 billion advising business gave low costs, asset growth, and trading volume top priority. Four out of the ten Bitcoin exchange-traded funds (ETFs) have reportedly been added by financial services company Carlson Group to its lineup of products for registered investment advisers (RIAs). Bloomberg reported on February
Approximately three years after being purchased by Sam Bankman-Fried for $323 million, FTX Europe will be returned to its creators for $32.7 million. After resolving a conflict regarding its European subsidiary, bankrupt cryptocurrency exchange FTX gave the business back to its original owners. A Reuters story from February 24 states that FTX agreed to return
Following Binance’s significant $4.3 billion plea deal, market watchers are keeping a careful eye on the expected price of Bitcoin and looking for clues that could point to the start of a bull market again. After a slight decline of 0.50% on Saturday, Bitcoin is currently trading at $50,500. The consequences of this court settlement
The CEO of Flincap, Nathaniel Luz, advises the Nigerian government to deal with licencing concerns for regional exchanges rather than holding the cryptocurrency industry responsible for monetary difficulties. Nathaniel Luz is the chief marketing officer and co-founder of Flincap, a local over-the-counter (OTC) cryptocurrency exchange. He believes that the Nigerian government needs to be clear
Changpeng “CZ” Zhao, the former CEO of Binance, has been subject to new travel restrictions, which the US Attorney’s Office has asked a federal judge to grant. In a document filed on February 23 in the Western District of Washington U.S. Attorney Tessa Gorman asked Magistrate Judge Brian Tsuchida to grant a motion outlining the
Holding a newly airdropped cryptocurrency token for longer than 14 days has, almost half the time, resulted in missing the chance to sell at its peak, according to recent statistics from bitcoin data aggregators.Interest in airdrops has significantly increased after 2020. The most popular method of obtaining free airdropped tokens is via taking part in
Spot Ether exchange-traded funds (ETFs) clearance is still pending, but Kevin de Patoul, CEO of Keyrock, a provider of digital asset markets, stated in an exclusive interview on February 23 that things are far from “done deal.” “I do believe there’s a good chance Ether ETFs will be approved. Without a doubt, the likelihood is
Users on X noted that Trump’s sudden shift in stance towards Bitcoin might merely be an election-related ploy to draw in voters with an interest in cryptocurrencies. Donald Trump, a former US president, has had a shift in opinion towards Bitcoin. Having previously declared that Bitcoin is a hoax and made anti-Bitcoin pronouncements while serving
In the dynamic realm of cryptocurrencies, developing a trustworthy and secure wallet application is a difficult but worthwhile endeavour. Creating a bitcoin wallet is a complex process, and this guide walks you through each step—from planning to implementation—carefully. Which characteristics are crucial to a cryptocurrency wallet? A cryptocurrency wallet ought to address issues related to
The lawsuit’s plaintiffs contended that an obligatory survey by the Energy Information Administration for cryptocurrency miners was an abuse of power and politically motivated. The Energy Information Administration’s attempt to obtain data on energy usage from cryptocurrency miners has been the subject of a lawsuit filed by the Texas Blockchain Council (TBC) and mining company
Layer-1 networkAvalanche’s status page indicates that it hasn’t produced a block in almost two hours.According to Kevin Sekniqi, co-founder of Ava Labs, the problem “seems to be related to a new inscription wave.”Without using smart contracts, arbitrary data can be recorded on the blockchain using inscriptions.They first became popular on Bitcoin because it made it possible for users to mint NFTs on the network. “Developers across the community are currently investigating a stall in block finalization that is preventing blocks from being accepted on the Primary Network,” a notice on Avalanche’s website states. TradingView reports that the network’s native token (AVAX) has decreased by 1.5% since the last block was generated. rival blockchainEarlier this month, Solana experienced a five-hour outage due to severe congestion.
