Extending its presence in the decentralized finance (DeFi) industry, Tangible protocol launched the real estate-backed stablecoin USDR. However, the recent events have revealed vulnerabilities in the stability of the coin’s peg to the U.S. dollar. A rush of redemptions led to a drain of liquid assets, including Dai (DAI), from USDR’s treasury. As a result,
Ethereum
Circle, the stablecoin issuer, has recently announced its venture into minting USD Coin (USDC) natively on the Ethereum layer-2 scaling protocol, Polygon. This move allows users and developers to access USDC without the need for bridging it from Ethereum to another blockchain. Circle Mint and Circle’s developer application programming interfaces (APIs) now fully support Polygon-based
Despite gaining around 35% in 2023, Ethereum’s native token, Ether (ETH), has consistently failed to decisively retake the $2,000 mark. This resistance level has proven to be a strong barrier, with multiple bearish rejections hindering its progress. This situation mirrors the bearish rejection experienced in 2018-2019 near $425, suggesting that Ethereum is currently in a
The recent major upgrades in the Ethereum network, namely the Merge and Shanghai, have inadvertently led to a rise in Ethereum staking. However, a new report by JPMorgan has shed light on the alarming cost associated with this growth – higher centralization and lower staking yields. This analysis, conducted by JPMorgan’s team of analysts led
In a shocking turn of events, the StarsArena Web3 app on Avalanche recently fell victim to a malicious attack, resulting in the loss of a significant sum of funds. This incident, which came to light through social media reports on October 5th, has raised serious concerns among users and the broader cryptocurrency community. A Devastating
Blockchain analytics investigators have made a startling discovery. They have uncovered an individual who is allegedly involved in a cryptocurrency laundering operation. This operation is specifically targeting stolen tokens from recent high-profile exchange hacks. The investigations, spanning the summer months of 2023, have shed light on the methods employed by these hackers and their connection
Friend.tech, a decentralized social media platform built on Coinbase’s layer-2 protocol, Base, has recently experienced significant growth in terms of revenue and total value locked (TVL). According to data from Dune Analytics, Friend.tech’s revenue has surged to 10,663 Ether (ETH), while its TVL has exceeded 30,000 ETH as of October 2nd. Friend.tech was launched in
During recent weeks, alarming details have emerged surrounding an exploit targeting FTX, a popular cryptocurrency exchange. The exploit resulted in substantial losses, with one particular address connected to the hack, known as 0x3e9, transferring more than 10,000 Ether (ETH) across various addresses. This article delves into the exploit and its consequences, shedding light on the
Global asset manager VanEck has made an announcement regarding its upcoming Ether futures exchange-traded fund (ETF). The company revealed that it will donate 10% of all profits from the ETF to Ethereum core developers for a duration of ten years. This move showcases VanEck’s commitment to giving back to the community that has contributed to
Investment manager VanEck is ramping up its marketing efforts for its soon-to-be-launched Ethereum Futures Exchange-Traded Fund (ETF). With the release of two creative TV commercials on September 28th, the company is generating buzz around its Ethereum Strategy ETF, which is expected to debut as early as October 2nd. This article critically analyzes VanEck’s marketing strategy
Analysts at Bloomberg suggest that Ethereum futures exchange-traded funds (ETFs) may receive approval and start trading in the United States as early as next week. According to James Seyffart, an analyst from Bloomberg Intelligence, “it is looking like the SEC is gonna let a bunch of Ethereum futures ETFs go next week potentially.” This news
The highly anticipated Merge upgrade in September 2022 marked a significant milestone for Ethereum. With this upgrade, Ethereum transitioned from the energy-intensive proof-of-work (PoW) consensus mechanism to the more sustainable proof-of-stake (PoS) model. While this upgrade promised improved scalability and reduced energy consumption, it also brought unforeseen challenges in terms of compliance with regulatory standards.
The recent approval of BlockFi’s liquidation plan by the United States Bankruptcy Court in New Jersey signifies a significant milestone for the customers of the bankrupt cryptocurrency lending platform. The decision, made by Bankruptcy Judge Michael A. Kaplan, brings them one step closer to potential repayment for their investments. This article explores the details of
Arbitrum, a prominent Layer 2 solution for the Ethereum blockchain, has taken a significant step by adding the unclaimed tokens from the Arbitrum airdrop to its network’s treasury. This move by the Arbitrum Foundation marks an important milestone for the project and its community. On September 24th, the Arbitrum Foundation made an official announcement on
