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Also Read: MakerDAO’s Bold Move Into Traditional Assets Fuels MKR Token Surge advertisement Binance’s CZ Criticizes USDT Transparency Speaking in a community session on Monday, the CEO said that USDT stablecoin, despite having a large market cap, did not provide an audit report yet. It is kind of like a black box due to the risk and uncertainty around it and yet, it is by far the largest stablecoin. He explained that the Paxos partnership was aimed at resolving the same issue. In February 2023, the New York Department of Financial Services had ordered Paxos to stop creating more of the dollar-pegged stablecoin BUSD. “We are supporting multiple stablecoins given that the BUSD minting has been stopped in relation to the Paxos partnership. We are working with multiple other partners in different regions now to support the idea of further decentralization.” Binance’s Own Algorithmic Stablecoin Project CZ revealed that the cryp...

The highest recently generated block reward was 584 ETH, created by a MEV bot front-running transactions during the DeFi chaos. The recent Curve Finance exploit has reportedly led to one of the largest ever Maximal Extractable Value (MEV) reward block s of 584.05 Ether (ETH).  On July 31, Ethereum core developer “eric.eth” reported that “today has produced some of the largest MEV reward blocks in Ethereum’s history,” adding it was caused by the exploit of Curve Finance stable pools on July 30. Data shows a larger MEV reward block of 692 ETH was recorded in March. “A bot notices an incoming hack in the mempool, reproduces the tx [transaction] and front runs it”, he explained before adding, “To do so they pay the block producer a lot of ETH to be front of the line.” Today has produced some of the largest MEV reward blocks in Ethereum’s history. Slot 6,992,273: 584 ETH Slot 6,993,342: 345 ETH Slot 6,992,050: 247 ETH Slot 6,993,346: 51 ETH — eric.eth (@econoar) July 30, 2023 ...

Recently, Tether Holdings, the issuer of USDT, minted $1 billion of the stablecoin on Ethereum.  The rising demand for USDT has positively impacted the InQubeta presale, bringing it closer to $2 million.  This article explores the connection, examines Tether’s actions, and looks at the increasing interest in InQubeta’s  presale . Tether minting billions of USDT On June 12, Tether minted $1 billion USDT on Ethereum.  This is the second time Tether has released $1 billion USDT, bringing the total amount generated in 2023 to over $16 billion. Tether’s chief technology officer, Paolo Ardoino, said the recent USDT mint was part of a “restoration of inventory” on Ethereum.  You might also like: Traders bullish on Bitcoin and InQubeta, expect new highs in 2023 It is considered an “authorized but not issued transaction” and will not affect the overall market cap of USDT. Instead, the newly generated sum will be used as i...

1. Federal Reserve Raises Interest Rates by 25 bps link On July 27th, according to The Wall Street Journal, the Federal Reserve announced a 25 basis point interest rate hike, bringing the rates to the highest point in twenty-two years. Federal Reserve Chairman Jerome Powell did not rule out the possibility of another rate hike at the central bank’s next meeting in September. The Federal Reserve aims to maintain long-term inflation rates at 2%. CICC (China International Capital Corporation) pointed out that the overall changes in the Federal Reserve’s meeting statement were not significant, and Powell’s speech retained flexibility for future policies. It is expected that July is likely to be the last rate hike in this round, but if the month-on-month inflation rate continues to be above 0.4% before the September meeting, there may be additional rate hikes. Attention will be given to the Employment Cost Index (ECI) data on Friday and Powell’s statements on inflation-fighting measures a...

VC firm Sequoia Capital has reportedly downsized its crypto fund from $585 million to $200 million amid a liquidity crunch and focus on smaller crypto players. A report by the Wall Street Journal on July 27 says the tech-focused VC firm Sequoia Capital will scale back its crypto fund. The move was driven by the need to align with the evolving market conditions in the crypto currency industry. One of the primary motivations behind the fund reduction is to lower the capital threshold, making it easier for investors to participate in Sequoia’s fund offerings. “We made these changes to sharpen our focus on seed-stage opportunities and to provide liquidity to our limited partners,” stated Sequoia in a released statement. Over the past three years, the company has returned more than $15 billion to its investors, highlighting its commitment to delivering results. You might also like: VC crypto funding plunged 91% since 2022 The venture capital firm introduced...

The U.S. House Committee on Agriculture has approved the Financial Innovation and Technology for the 21st Century Act. Better known as FIT for the 21st Century, the bill is designed to establish a comprehensive regulatory framework for digital assets. It is the product of the House Agriculture Committee and the House Financial Services Committee and was passed due to bipartisan efforts of Republicans and pro-crypto Democrats. This Thursday, the Committee will markup H.R. 4763, the Financial Innovation and Technology for the 21st Century Act. This bill aims to close regulatory gaps, protect consumers, and ensure U.S. leadership in financial & technological innovation. # crypto https://t.co/WlpzUciahK — House Committee on Agriculture (@HouseAgGOP) July 24, 2023 The bill’s passage by the Agriculture Committee comes a day after the Financial Services Committee gave its own approval, laying the groundwork to better define the status of crypto currencies in the eyes of the l...

IOST partners with Lifty to advance Web3 gaming and boost blockchain awareness. Lifty, a leading Web3 gaming platform, has joined forces with IOST to propel the adoption of blockchain technologies among the general public. This partnership aims to leverage Lifty’s transparent blockchain analytics and innovative Web3 marketing tools to empower gamers and enhance the gaming experience in the crypto space. Lifty and IOST are set to revolutionize the gaming industry with the shared vision of advancing blockchain adoption. The collaboration between Lifty and IOST holds tremendous potential for both the gaming and blockchain industries. By leveraging Lifty’s transparent blockchain analytics and GamerScore marketing tool, IOST aims to increase awareness and adoption of blockchain technologies among the masses. Through this partnership, gamers will gain access to a more transparent, reliable, and engaging gaming ecosystem, while blockchain enthusiasts will witness the transformative power of W...

The EOS Network Foundation (ENF) is taking legal action against Block.one (B1), the original team who raised $4 billion in a year-long initial coin offering (ICO) for developing the EOS.io blockchain. In a tweet on July 5, the CEO of the ENF, Yves La Rose alleges that B1 didn’t fulfill its $1 billion investment commitments. EOS Foundation suing B1 In the legal update, ENF highlights its challenge with B1, asserting that the company had failed to fulfill its commitment to a $1 billion investment for building and expanding the EOS Network ecosystem. IMPORTANT UPDATE ON THE LAWSUIT AGAINST @B1 ️ The ENF is preparing a suit against B1 for failure to follow through on its $1B commitment ️ B1 is attempting to settle a separate lawsuit for $22M. You may need to opt out to be eligible to participate in the ENF’s lawsuit pic.twitter.com/uMnUVyRu4M — Yves La Rose (@BigBeardSamurai) July 26, 2023 ENF is a not-for-profit organization that is responsible for the growth and deve...

Craig Wright, the self-proclaimed creator of Bitcoin [BTC], recently emerged in the news again. During the decline of numerous crypto projects and the 2022 market crash, Wright kept a relatively low profile. However, the limelight is now on him as James Mellor, a judge at the England and Wales High Court, ruled that Wright must provide 400,000 British pounds or $516,000 as security for legal expenses. This is in order to pursue his allegations against crypto exchanges Coinbase and Kraken. Back in 2022, Craig Wright filed a lawsuit against Coinbase and Kraken , blaming them for copyright infringement. The entrepreneur asserted that both exchanges, especially Payward, the operator of Kraken , violated his intellectual property rights by using the term ‘Bitcoin’. Also Read: Craig Wright , Self-Proclaimed Satoshi Nakamoto Has Sued Coinbase and Kraken for “Misrepresenting” Bitcoin Here’s why the Judge is doubtful of Craig Wrights’s financial ...

Coinbase’s VIP Access received 283 applications from around the world. VIP Access is a hiring scheme to attract highly talented crypto enthusiasts to work for Coinbase. CEO Brian Armstrong revealed that the applicants include Olympic athletes and influencers. Coinbase VIP Access has attracted hundreds of applicants from around the world. VIP Access was launched last week by Chief Executive Officer Brian Armstrong as a hiring scheme. The program aims to attract experienced crypto enthusiasts from various sectors including business, sports, military, social media, etc. Applicants so far: – Led a Crypto forward project: 65 – Founded and Sold Companies: 56 – Developed a large social media audience: 43 – Won chess tournaments, coding or video game competitions: 37 – Researched and Discovered Breakthroughs: 24 – Elite Armed Forces Experience: 22 -… https://t.co/7zLYGv4nd9 — Brian Armstrong ️ (@brian_armstrong) July 24, 2023...

Achieving a market cap of $1 billion is difficult for any digital currency. However, Binance (BNB) and Polygon (MATIC) are among the few that have surpassed this milestone. In addition to forecasting the future of BNB and MATIC, some investors believe Borroe, a crypto project, could also achieve the same feat this year. >>Buy ROE tokens now<<  Borroe is a web3 invoice and recurring revenue Marketplace Borroe is a revenue financing solution for web3 participants with cash flow issues. It consists of a blockchain and artificial intelligence (AI)-driven crowdfunding marketplace where they can exchange their future proceeds for instant cash. Borroe has the potential to post a $1 billion market cap due to the size of the invoice financing market, which stands at $3 trillion. In comparison, the crypto market is valued at $1.2 trillion. Borroe serves as a bridge between the two worlds by offering alternative financing options to businesses in web3, making it fast...

On Saturday, the total assets held in liquid staking protocols for ETH reached a new all-time high. An inverse head and shoulders pattern could see ETH climb to $2,372 in the near future. ETH saw its price drop by 0.36%, which left the altcoin trading at $1,870.42. Investors have shown strong support for Ethereum (ETH) staking in recent months. Despite a significant drop in ETH’s value (-61% from its peak), on-chain insights from Token Terminal Intern on Twitter revealed that the total assets held in liquid staking protocols reached an all-time high on Saturday. Just a reminder Total assets staked through liquid staking protocols are hitting ATH, despite $ETH being -61% from the top. pic.twitter.com/Gy7tuHd9hJ — Token Terminal Intern (@tt_intern) July 22, 2023 This increasing interest in staking demonstrates investors’ confidence in ETH’s future potential, as they are willing to hold onto their tokens (HODL) with the hopes of a potentia...

Alphapo, a payment processor, reportedly fell victim to hackers, resulting in a loss of more than $23 million in various coins and tokens. Crypto “detective” ZachXBT, who has been closely tracking the movement of stolen funds across different networks, brought to light the Alphapo attack on July 23. Earlier today Alphapo hot wallets were drained for $23M+ on ETH, TRON, BTC. HypeDrop (Alphapo customer) has since had withdrawals disabled. On Ethereum the stole n funds were swapped for ETH then bridged to Avalanche and Bitcoin. pic.twitter.com/pj7i3ZlBrX — ZachXBT (@zachxbt) July 23, 2023 According to ZachXBT’s report, the hackers exploited vulnerabilities in Alphapo’s security measures, gaining access to the platform’s hot wallets for Ethereum, Tron, and Bitcoin. Subsequently, they drained these wallets, causing substantial losses for the payment processor. As part of their attack, the hackers utilized the stole n tokens to purchase additional ...

Dormant whales have moved BTC and other crypto assets worth billions in the last few months amid dovish US Federal Reserve; spot Bitcoin ETF filings by traditional finance giants BlackRock, Fidelity Investments, and Invesco; positive crypto funds inflows, and Ripple’s partial win against US SEC. advertisement Onchain data expert Lookonchain on July 22 revealed that another BTC whale dormant for 11 years woke and transferred all 1,037.42 ($37.8 million) to a new address”bc1qtl”. As per BitInfoCharts, the whale received 1,037.42 ($5,107) on April 11, 2012, when the price per Bitcoin was just $4.92. The wallet address reached the highest profit of $59 million when BTC hit ATH. Popular crypto reporter Colin Wu said: Recommended Articles Crypto Presale Projects For 2023 To Invest; Updated List Must Read ...

Ripple Applied For Licenses in UK and Ireland Ripple announced plans last year to expand to other European countries, especially the UK and Ireland amid the long-running case against the US SEC. advertisement After Judge Analisa Torres’ landmark decision in the US SEC v. Ripple Labs lawsuit, Ripple seeks approval of licenses in the UK and Ireland as XRP isn’t a security. Judge Torres ruled that sales of XRP to institutions are securities as these are investment contracts, but the XRP token itself is not a security. Sendi Young, managing director Of Europe for Ripple , said the decision was a huge win and positive for Ripple ’s overall growth and success. “We are in the process of applying for our crypto asset registration in the UK and our payments licence in Ireland. These are all massive investments with a view that we are going to continue growing exponentially in this region.” Recommended Articles ...