Month: August 2022

Decentralization, privacy, and a credibly neutral Ethereum | by Coinbase | Aug, 2022

Coinbase

Tl;dr: The following post recaps this episode of Coinbase’s Around The Block podcast in which Viktor Bunin hosts Coinbase CEO Brian Armstrong and Ethereum co-founder Vitalik Buterin discuss decentralization, privacy, and a credibly neutral Ethereum. By Viktor Bunin, Senior Protocol Specialist at Coinbase Cloud After 7 years of research and development, the Merge is just around the corner. A crowning achievement, the Merge will finally transition Ethereum from Proof-of-work (PoW) to Proof-of-stake (PoS). I encourage everyone to listen to the whole episode, but I wanted to take this opportunity to…

Crypto.com Mistakenly Sent $10.5 Million to Client Instead of a $100 Refund

Adewumi Victor

Crypto.com According to 7News, two Melbourne women, Manivel Thevamanogari and her sister Gangadory Thevamanogari got a AUD$10.5 million deposit from Singaporean cryptocurrency exchange Crypto.com after the latter made an error in giving a AUD$100 refund. An employee reportedly inserted an account number in the payment box instead of the return amount, resulting in an incorrect transfer to their bank account. According to court filings, the beneficiary utilized a portion of the monies to purchase a lavish property shortly after receiving them. The event happened in May 2021 but was not…

OpenSea Turns Into NFT Ghost-Town After Volume Downs 99% In 3 Months

Adewumi Victor

A continuing debt issue at lending platform BendDAO raises the prospect of the NFT bubble imploding. As concerns about a potential market bubble mount, daily volumes on OpenSea, the world’s most significant nonfungible token (NFT) marketplace, have dropped significantly. OpenSea Volume Plummets to Yearly Lows Notably, the marketplace executed about $5 million in NFT transactions on August 28 — roughly 99% less than its record high of $405.75 million on May 1. The precipitous decreases in daily quantities coincided with equally sharp drops in OpenSea users and transactions, implying that…

‘Most of crypto is going to go away’ says JPMorgan blockchain lead

Fin Strathern

JPMorgan head of blockchain and digital assets, Umar Farooq, has stated that the majority of crypto assets on the market today are “junk” and that it will take time for real crypto use cases to emerge. During a panel at the Monetary Authority of Singapore’s Green Shoots Seminar on 30 August, Farooq also said that regulation in the digital asset space was not keeping up with the industry’s advances. In his view, this is holding bacl many traditional finance institutions from getting more engaged in cryptocurrency and Web3. Farooq went…

BTC Miners Are Selling Moderately. Technicals Point to a Trend Reversal. Top Losers

Anthony B

All markets dropped following the central bank’s Jackson Hole economic symposium on Friday, with the Nasdaq down almost 4%, the S&P 500 losing 3%, and Bitcoin falling 6% for the day as well.    Source: TradingView    Powell reaffirmed the Federal Reserve’s commitment to curb inflation, stating that the Fed will continue to raise interest rates at a pace that will have “some pain” for the US economy. As for inflation, he said it is still near its highest level in more than 40 years, and that the bank will…

Unfold 2022 by CoinDCX nudges India forward on its journey to becoming a global leader in Web3

Anthony B

Unfold 2022, India’s biggest Web3 event organised by CoinDCX from August 26-28, 2022, was wrapped up on a high note. Its overwhelming success and the magnitude of the event reflect what can be accomplished when the entire industry is committed to a shared goal, and the goal is nothing less than making the country a Web3 leader, shaping the next phase of the internet revolution. The event saw over 1500+ participants, the launch of a pathbreaking DeFi product ‘Okto’, 86 innovative Web3 use cases project submissions during hackathon by more…

Taipei Blockchain Week Imperiled by Government’s COVID-19 Quarantine; Bitcoin Rebounds Above $20K

Sam Reynolds

Other altcoins in the CoinDesk top 20 by market cap were in the green, most of them firmly so with ATOM and LRC recently jumping 12% and 8%, respectively. AVAX rose more than 5%, regaining ground it lost after a self-described “whistleblower” website on Sunday accused Ava Labs, the company behind the Avalanche, layer1 blockchain, of paying lawyers to hurt competitors and keep regulators at bay. On Monday, Ava Labs CEO Emin Gün Sirer denied the company has been involved in any behind-the-scenes smear campaign. Author: Sam Reynolds Source link

Australian regulators rattle their saber as adoption takes a major leap: Law Decoded, Aug. 22-29

David Attlee

Australia’s financial regulator, Securities and Investments Commission (ASIC), has pledged to put crypto assets and decentralized finance (DeFi) firmly in its sights over the next four years. The regulator intends to focus on “digitally enabled misconducts” and to protect investors “from harms posed by crypto-assets.” Given the ASIC’s history of anti-crypto sentiments, such an announcement could be perceived as hostile, but at least it contains a promise to implement some regulatory framework that is still absent.  And, it is hardly a coincidence that the announcement came only days after Australia’s…

Bitcoin Price Dives Below $20K, Why BTC Is Vulnerable To More Losses

Aayush Jindal

Bitcoin started a major decline and traded below $20,000 against the US Dollar. BTC remains at a risk of more losses unless it recovers above $20,000. Bitcoin started another decline below the $20,200 and $20,000 levels. The price is now trading below the $20,000 level and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $20,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could accelerate further lower below the $19,500 support zone in the coming…

Onchain Ethereum Fees Remain Low Ahead of the Merge, 4 L2 Networks Offer Transfers Below a Nickel – Altcoins Bitcoin News

Jamie Redman

With just over two weeks until The Merge, Ethereum network fees have reduced significantly as the average ethereum transfer fee has dropped to 0.00092 ether or $1.37 per transaction on August 28. Median-sized fees have slid to 0.00036 ether or $0.544 per transfer, and etherscan.io’s gas tracking tool notes a priority fee will cost 11 gwei or $0.34 to get a transaction confirmed in roughly 30 seconds. Ethereum’s Onchain Transfer Cost Remains Low, L2 Transfer and Swap Fees Are Still Cheaper On August 16, the Ethereum Foundation updated a previously…