Day: September 26, 2022

Binance Assists in Recouping Fund for Vicitims of Contra Tech Fraud

Godfrey Benjamin

Binance exchange has announced it is heavily involved in helping the victims of Contract Tech fraud from back in 2017/18 to recoup their lost funds. For the past couple of years, the digital currency ecosystem has been experiencing quite a lot of cybercrime activities, with most victims left to count their losses despite government intervention in some cases. In the case of Contra Tech, the United States government has helped recoup as many as 100,000 ETH tokens belonging to as many as 170,000 victims.  As planned by the government, the…

Ethereum Price is Showing Early Signs of Fresh Rally, But $1,400 is the Key

Aayush Jindal

Ethereum is gaining pace above $1,360 against the US Dollar. ETH could start a fresh rally if there is a clear move above the $1,400 resistance zone. Ethereum is showing positive signs above the $1,320 and $1,350 support levels. The price is now trading above $1,350 and the 100 hourly simple moving average. There was a break above a major bearish trend line with resistance near $1,342 on the hourly chart of ETH/USD (data feed via Kraken). The pair could extend its rally if it clears the key $1,400 resistance…

New Cosmos whitepaper repurposes ATOM token and refines vision

Brayden Lindrea

Interoperability-focused blockchain network Cosmos has dropped a new whitepaper proposing a revamped Cosmos Hub aimed at strengthening interoperability and security, along with key changes to its native ATOM token.  The new Cosmos whitepaper was released on Monday at the Cosmoverse conference in Medellin, Colombia. The upgrades outlined in the whitepaper are still technically in “proposal” status but changes are expected to be made on-chain on Oct. 3. Cosmos is an ecosystem of blockchains designed to scale and interoperate with each other. Cosmos Hub was the first blockchain to be built on…

From a VC investor: Advice for Web3 startup founders

Anthony B

The flow of capital and talent into Web3 startups continues, pulled through this crypto winter by conviction in the generational technology transition it represents. Capital is in place and looking for an early-stage home. Valuations and expectations have normalized, and that is facilitating rational, purposeful engagement with Web3 startups. We believe the Web3 investment environment is riper than ever. At SkyBridge, we have invested over $400 million in leading crypto and fintech startups since 2020. We expect to accelerate our efforts following our partnership with FTX Ventures, which recently bought…

China GPU prices drop to new lows after the Ethereum Merge

Ezra Reguerra

As the Ethereum network’s move to a proof-of-stake (PoS) consensus mechanism drives adoption from institutional investors, the prices for graphics processing units (GPUs), often used for mining cryptocurrencies like Ether (ETH), have gone down in China.  Following the historic Ethereum Merge on Sept. 15, the previously highly sought-out Nvidia GeForce GPUs have become significantly cheaper, according to a report by the South China Morning Post. Peng, a Chinese merchant, gave the RTX 3080 as an example as the GPU’s price dropped from $1118, or 8,000 yuan, to 5,000 yuan within…