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Bitcoin and Ethereum Lack Momentum, XRP Tests USD 1
12.8.2021
Bitcoin price is stuck in a range above the USD 45,000 support zone. BTC seems to be facing a strong selling interest above USD 46,500. It is currently (05:34 UTC) consolidating near USD 45,000.
Most major altcoins are also correcting gains. ETH spiked above USD 3,250 and it is now consolidating...
ReSource Finance Raises 1.7M USD Offering Undercollateralized Credit
12.8.2021
Disclaimer: The text below is a press release that was not written by Cryptonews.com.
San Francisco, United States, 12th August, 2021,
Decentralized credit protocol, ReSource Finance completed a 1.7 million USD funding round led by Future Perfect Ventures, NGC Ventures, and ExNetwork to enhance...
DeFi History Books Records The Largest Exploit to Date Worth $600 Million
11.8.2021
A historic hack has been making airwaves within the community, plagued by tons of exploits, and now has recorded the biggest ever. Poly Network exploits across three chains saw both Decentralized Finance and the largest hack co-occurring. Shockwaves crippled the crypto world as the news made...
BitMEX Wants to Expand Capacities After Paying USD 100M to US Regulators
11.8.2021
Major crypto derivatives platform BitMEX has seen a resolution of its row with the US regulators, which its CEO said “will only accelerate [their] evolution.” However, with criminal charges still hanging over its founders, BitMEX will need to have independent consultants investigate its transaction...
Poly Network Exploiter Starts Returning the Funds, Gives Back USD 1M
11.8.2021
The hacker of the decentralized finance (DeFi) interoperability protocol Poly Network, that just lost over USD 600m, first asked the protocol for a multi-signature (multisig) wallet to return the funds - and has started returning it.
So far, the hacker returned USD 1.007m, per Polygonscan data....
Coinbase removes ‘backed by US dollars’ claim for USDC stablecoin
11.8.2021
The Coinbase website now states that USD Coin is “backed by fully reserved assets,” contrary to the now-removed claim of “backed by U.S. dollars in a bank account.”
Circle Intends to Become a Full-Reserve National Commercial Bank
11.8.2021
Circle, a cryptocurrency fintech services company, announced it intends to become a full-reserve national commercial bank. This would bring a set of responsibilities and duties to the company equal to those of other mainstream banks: having to report to the Federal Reserve, U.S. Treasury, OCC,...
Justin Sun Ventures Into GameFi Projects With USD 300M TRON Arcade Fund
10.8.2021
Tron (TRX) and its partners said they have established a USD 300m fund called TRON Arcade, which will invest in and incubate GameFi projects over the next three years.
GameFi ('gaming' + 'DeFi') is described as the gamification of monetary mechanisms that make earning profits an "exciting...
Poly Network Got Robbed of More Than USD 600M
10.8.2021
Interoperability protocol Poly Network has confirmed that it has suffered a major exploit - loosing at least USD 600.3m of its funds.
The protocol announced that it got attacked on Binance Smart Chain (BSC), Ethereum (ETH), and Polygon (MATIC).
"We call on miners of affected blockchain...
LyraDAO Obtains $1m From SynthetixDAO
10.8.2021
LyraDAO finally announced securing a generous contribution of $1M from SynthetixDAO. Since the introduction of DAOs, along with NFT and DeFi projects, Synthetix has become a pioneer of DeFi by operating its multibillion-dollar protocol of deploying DAOs. Lyra is new to the industry of DAOs, and...
DAO-led DeFi Hub, NearPad, Announces 2M USD Seed Raise
10.8.2021
Disclaimer: The text below is a press release that was not written by Cryptonews.com.
NearPad, the DeFi hub on NEAR’s layer 2 protocol - Aurora, has announced the successful close of its 2M USD seed round. The raise was led by NGC with participation from leading backers in the blockchain space...
Bitcoin Rallies Above USD 45K, Ethereum Reclaims USD 3K
9.8.2021
Bitcoin price remained well bid above the USD 43,000 support zone. As a result, BTC started a fresh increase above the USD 44,500 and USD 45,000 resistance levels. It is currently (12:14 UTC) showing positive signs and there are chances of more upsides above USD 46,500.
Similarly, most major...
Why Jack Dorsey’s Square Paid USD 29B for Afterpay
8.8.2021
Jack Dorsey. Lien Duong, Senior Lecturer in School Accounting of Accounting, Economics and Finance, Curtin University, Sonny Pham, Senior Lecturer in Computer Science, Curtin University.
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The AUD 39bn (USD 29bn) that Twitter founder Jack Dorsey’s digital payments company Square is paying...
Bitcoin Tests USD 45K, Ethereum Above USD 3K, Dogecoin Rallies
8.8.2021
The crypto market continued its rally on Sunday, with bitcoin (BTC) surpassing USD 45,000 for the first time since May and ethereum (ETH) inching higher above USD 3,000. Meanwhile, dogecoin (DOGE) is the best performing coin among the top 100 cryptoassets today.
At 09:34 UTC, BTC trades at...
7 NFT Markets Saw Over $356M in Monthly Value Transferred — Opensea, Axie Infinity Eclipse Competition
8.8.2021
The quantity of monthly USD value transferred from seven leading non-fungible token (NFT) marketplaces has reached a total of $356 million during the first week of August. Currently, the project Cryptopunks is leading the pack when it comes to NFT project sales. Meanwhile, the marketplace Opensea...
Ethereum Burning Thousands of USD a Minute, While Miners Face the Change
6.8.2021
Following its latest and highly-anticipated network upgrade, Ethereum (ETH) is currently burning some USD 8m worth of ETH per day, and has already burned nearly USD 12m. Meanwhile, there seems to have been plenty of confusion among miners on the first day.
A total of ETH 4,260 have been burned...
Bitcoin Is Resilient to Break the $42,000 Resistance
6.8.2021
Bitcoin traders are back in action and this time with an arsenal of volume at their back. BTC price has to cross the $42,000 levels to remain in the bullish sentiment, but we witnessed a sudden and consistent fall from the level to $38,000. Bitcoin has the fundamental potential and buyer sentiment...
Huobi Stablecoin Issuer Publishes Attestation Reports Tied to HUSD Reserve Backing
6.8.2021
The crypto financial services company Huobi and the firm’s stablecoin issuer Stable Universal have published monthly HUSD attestation reports. The audits indicate the funds that back Huobi’s stablecoin are kept in cash in U.S. money market accounts in order to ensure the 1:1 ratio with...
South African Start-Up Aims To Shield Merchants From Crypto Price Swings
5.8.2021
While opponents of cryptocurrencies continue to peddle the environmental damage or the terrorism funding narrative, users from countries where the majority is financially excluded see these as a breakthrough innovation. Crypto Utility Inspires Volatility Solutions For instance, to undocumented...
DACH Funds May Inject USD 657B In Digital Assets Within 3 Years - Report
4.8.2021
Source: AdobeStock / by-studio
Within three years, between USD 100bn and USD 657bn could be injected into the digital asset market from the DACH region which comprises the German-speaking countries of Germany, Austria, and Switzerland, according to a report released by Russian tech-focused think...