Month: August 2022

Can Web3 be hacked? Is the decentralized internet safer?

Arijit Sarkar

Web3 came into existence posed as a blockchain-powered disruption to the current state of the internet. Yet, as a nascent technology, a fog of assumptions plagues discussions about the real capabilities of Web3 and its role in our day-to-day lives. Considering the promise of a decentralized internet using public blockchains, a complete transition to Web3 would require scrutiny across several factors. Out of the lot, security stands as one of the most crucial features as, in a Web3-powered world, tools and applications hosted over the blockchains go mainstream. Smart contract…

Tether Hires BDO Italia for Monthly Assurance Reports, USDT’s Quarterly Attestation Shows a 58% Decrease in Commercial Paper – Altcoins Bitcoin News

Jamie Redman

This week, the stablecoin issuer Tether Holdings Limited revealed an update to its assurance and attestation process and detailed that the company has been working with accounting firm BDO Italia. The accounting firm will conduct monthly tether assurance reports based on the stablecoin issuer’s reserves. The following day, Tether published its quarterly assurance opinion completed by BDO and it notes that the company has seen a 58% decrease in commercial paper reserves. Tether Hires BDO Italia, Company Publishes Quarterly Consolidated Reserves Report Tether Holdings Limited, the company behind the largest…

Fed Rate Hike Unclear, Bitcoin Falls Below $21,000

Annie Li

The largest cryptocurrency, bitcoin, tumbled more than 9 percent to below $21,000, hitting a new low in late July. Bitcoin also posted its biggest one-day drop since June. Bitcoin fell with U.S. stock futures falling as selling emerged during European trading the next day. At the time of writing, the benchmark cryptocurrency was trading at $21,217, according to CoinMarketCap data, About $220 million in crypto positions were liquidated within an hour on Friday, with bitcoin accounting for about half of that, according to Coinglass data. In the past 24 hours,…

Blockchain Mobile SDK: The Power Behind Web3 Content Development

GetNews

The Owner Of Mirror World Announced This Via His Official Web Page Experienced developers can attest to the fact about what they pass through when it comes to the development of web3 content. Blockchain development comes with challenges, as it involves rigorous processes, making it difficult for most developers to handle. Featuring mobile applications on Solana is also extremely tasking due to enormous requirements. But there is no cause for alarm, as the owner of Mirror World has announced their Blockchain Mobile SDK as the power behind web3 content development. “Most people…

Crypto Lender Voyager’s Customers Object to Employee ‘Retention Award’ Bid

Anthony B

Voyager, which is currently undergoing bankruptcy proceedings in the U.S. Bankruptcy Court for the Southern District of New York, asked a federal judge to approve $1.9 million of its funds for a “Key Employee Retention Plan” (KERP), meaning bonuses to 38 employees that the company claimed were vital to its continued operation and restructuring. On Friday, the Official Committee of Unsecured Creditors – a group of Voyager customers – objected, saying Voyager’s employees are “already well-compensated,” and arguing that the company has otherwise done little to reduce costs. Author: Nikhilesh…

South African Reserve Bank Supports Friendly Crypto Operations

Adewumi Victor

According to the banking regulator, minimizing risk by disconnecting crypto-related consumers may represent a “threat” to financial integrity. The Reserve Bank of South Africa’s Prudential Authority advised its subsidiaries to avoid illegal activity, asking banks not to terminate all links with bitcoin. It implied that such an act might pose a higher risk in the long term. Prudential Authority CEO Fundi Tshazibana signed the formal notification. Certain South African banks have already severed links with crypto asset service providers (CASPs), as referred to in the letter, due to unclear laws…

Security PSA: Sha Zhu Pan (Pig Butchering) Investment Scams | by Coinbase | Aug, 2022

Coinbase

Tl;dr Coinbase has seen a concerning increase in fraudulent cryptocurrency investment platforms that are sourcing victims through connections on dating apps and social media. We are encouraging our users to be vigilant against this type of social engineering scam. The Coinbase Security team has previously submitted the domains in this blog, in addition to several other related domains, to Google Safe Browsing for alerting users when browsing to these sites. By Coinbase Global Investigations, Trust & Safety, and Threat Intelligence Teams Coinbase works closely with law enforcement partners across the…

TA- Ethereum ETH Shows Bearish Signs, Eyes $1,700 As Nearest Support

jamesobande

The price of Ethereum (ETH) has struggled to hold above $2,000 against Tether (USDT) after being rejected from that region.   Ethereum price in the past few weeks outperformed the price of Bitcoin (BTC) but has shown bearish signs indicating the ETH price could be set to retest the nearest support. Ethereum (ETH) Price Analysis On The Weekly Chart Weekly ETH Price Chart | Source: ETHUSDT On Tradingview.com From the chart, the price of ETH saw a weekly low of $1,700, which bounced from that area and rallied to a price…

Not So Bad Inflation Relieves the Crypto Market, Big Players Are Back. Gainers Overview

Anthony B

Markets across the board, as well as crypto markets, were boosted by US inflation coming in better than expected. Since market participants had been pricing in a deeper decline of  8.7%, July’s 8.5% fall was a sign of relief for risk markets. Before deciding whether to trigger a 50-point or 75-point rate increase at the September meeting, Federal Reserve members will gather in Jackson Hole in late August to digest inflation and jobs reports. There is a possibility that risk assets will rally further in the event of a dovish…