Ask 10 different people to define a decentralized autonomous organization (DAO), and you’ll likely get 10 different definitions. But there is at least one thing most agree on: DAO governance is a mess. At best, it’s an experiment in the works. According to DeepDAO, DAOs today handle a whopping $17.2 billion in value. Yet many
Cryptocurrency
Binance Connect, the regulated buy-and-sell crypto arm of Binance exchange, will shut down on August 16. Cointelegraph confirmed on August 15 via an email with a Binance spokesperson. The same day, BNB Chain decentralized exchange Biswap tweeted that Binance ”has made a difficult decision to disable Binance Connect on 15 August due to its provider closing the
Bitcoin (BTC) has been stuck inside a tight range in August. Glassnode lead on-chain analyst Checkmate highlighted that the spread between the upper and lower Bollinger Bands for Bitcoin has shrunk to 2.9%, its third tightest ever. Typically, periods of low volatility are followed by a range expansion. The longer the time spent inside a
Decentralized finance protocol Zunami Protocol has confirmed it has encountered an attack on its “zStables” stablecoin pools. Blockchain security firm PeckShield was one of the first to detect the possible exploit on Curve on August 13 at 10:47 UTC. Zunami then confirmed the attack about 20 minutes later. Zunami said that collateral in the pools
Brazilian lawmakers are moving forward with a legislation that would raise taxes on cryptocurrencies held overseas. According to local reports, a congressional committee has approved amendments to a bill that recognizes cryptocurrencies as “financial assets” for tax purposes in foreign investments. In addition, the draft bill taxes gains from fluctuations in crypto asset prices against
Bitcoin (BTC) continues to frustrate investors with its tight range consolidation, giving no clue about the possible direction of the breakout. Typically, the longer the range, the stronger the eventual breakout from it. Therefore, traders should be on their toes to latch on to the breakout when it happens. A minor positive in favor of
Grails by PROOF Season IV Collecting art is historically not just about the art itself but who the artist is and the story behind the piece. The emergence of NFTs as a way to attribute provenance to digital objects has seen an explosion of interest in the past few years, even if that’s currently seeing
Binance Labs, the venture arm of cryptocurrency exchange Binance, has invested $5 million in Curve (CRV), the namesake token of the decentralized stablecoin trading platform. “Curve is the largest stableswap and second-largest DEX [decentralized exchange], with approximately $2.4B in total value locked and $215M in daily volume at the time of writing,” Binance Labs said
Aptos (APT), the cryptocurrency powering layer-1 blockchain Aptos Network, is up approximately 11.6% since announcing it will leverage Microsoft’s suite of artificial intelligence tools to advance Web3 adoption among banks and financial enterprises. This will be achieved by enabling the Aptos Network to tap into Microsoft’s Azure OpenAI service to explore innovations in asset tokenization,
In the most recent episode of The Market Report, analyst and writer Marcel Pechman delves into the topic of crypto exchange Binance’s proof-of-reserves. This report reveals a significant decline in USD Coin (USDC) balances, plummeting from $3.4 billion on March 1 to a mere $23.9 million by May 1. According to insights from on-chain analyst
Moon and Brick, two tokens created by users of social media platform Reddit, are up 48% and 443%, respectively, in the past week after being listed on cryptocurrency exchange Kraken. In an Aug. 7 announcement, Kraken announced the listing of Moon and Brick for spot trading and perpetual futures. At the time of publication, users could only deposit
Paypal’s new Ethereum-based stablecoin, PYUSD has been seen as bittersweet news for the crypto community. While it could finally see Ethereum find its place in mainstream adoption, it could also spell trouble for decentralization and personal control of assets, warns the community. The new stablecoin, Paypal USD, was launched on Aug. 7 and is issued
The decentralized finance (DeFi) ecosystem has experienced a challenging week after a seismic security incident led to over $61 million being stolen from Curve Finance’s pools, leaving several protocols facing broader contagion risks. This attack exposed vulnerabilities across DeFi projects and sparked efforts to recover stolen funds over the past few days. As the community
Top Stories This Week The decentralized finance (DeFi) ecosystem experienced a challenging week after a seismic security incident led to over $61 million being stolen from Curve Finance’s pools, leaving several protocols facing broader contagion risks. This attack exposed vulnerabilities across DeFi projects and sparked efforts to recover stolen funds over the past few days,
Bitcoin (BTC) continues to frustrate traders who have been predicting a breakout on either side but investors should keep a close watch because the longer the time spent inside the range, the stronger is the eventual breakout from it. The July jobs report released on Aug. 4 was a mixed bag, hence it could not
Optimism (OP) is a Layer 2 scaling solution, which operates as a separate blockchain built on top of Ethereum. Despite having a smaller total value locked (TVL) than its rivals, Optimism may still have the potential to thrive in the increasingly competitive DeFi landscape. Being one of the pioneers in the DeF space, Optimism initially
Let’s get business out of the way before getting to the fun part: Meta, the parent company of WhatsApp, Facebook and Instagram, is heavily involved in virtual worlds through its metaverse unit, Reality Labs. However, its investments have yet to pay off, with the metaverse company reporting collective losses of over $40 billion. Despite the
The Litecoin halving event has been completed with block rewards now halved at 6.25 Litecoin (LTC) per block. On Aug. 2, the Litecoin blockchain went through its automated halving procedure at block 2,520,000. LTC miners are now getting half the rewards and the clock has been reset for the next halving in roughly four years’
On July 30, Curve Finance, a decentralized exchange on Ethereum, suffered a hack due to a vulnerability in certain pools built using the Vyper programming language. The price of CRV dropped 20.91% on the day of the hack, falling to a two-month low of $0.58. On the next day, the decline in CRV continued to
After years of leaving 39,712 Ether (ETH) locked at the Ethereum Name Service (ENS) auction, a whale using the domain “darkmarket.eth” has reclaimed the digital assets and transferred over $119 million in ETH to a new wallet. After 2.7 years of dormancy, darkmarket.eth reclaim 39,712 $ETH ($74.17M) locked in the ENS auction just now. And
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