According to an announcement on September 2, decentralized finance (DeFi) protocols Aave and Sky (formerly Maker) are exploring a partnership designed to “bridge the gap between DeFi and TradFi.”The proposed partnership, dubbed Sky Aave Force, follows a governance proposal put forth by DeFi research and development firm Phoenix Labs on September 2. The proposal proposes that Sky’s sub-DAO, Spark, issue its own SPK token to help establish a market for the USDS stablecoin, which launched after Maker rebranded to Sky in August. “Sky Aave Force has an ambitious goal: to drive mass adoption and bridge the gap between DeFi and…
Author: Crypto Flexs
Read More
Wang Long Chai September 3, 2024 17:16 The Securities and Futures Commission has imposed a lifetime ban on Charles Lam Cheung-yi-woo for misconduct. The Securities and Futures Commission (SFC) has issued a lifetime ban on Charles Lam Cheung Yiu, effectively banning him from engaging in regulatory activities within the financial sector. The decision follows an SFC investigation that found Lam guilty of serious misconduct. Details of the misconduct According to apps.sfc.hk, the investigation found that Ram had engaged in fraudulent activities, including forging documents and embezzling customer funds. These activities not only violated industry…
Token2049 Singapore offers a “world first” immersive theater experience brought to you by HashKey Capital, Aethir and CARV.Set in Singapore’s iconic Raffles Hotel, the mystery thriller “Decode: Legacy” promises to explore the last decade and a half of cryptocurrency history through “iconic Web 3 characters, puzzles to solve, and secrets to discover.” Crypto. Reimagined. ⏳Enter a world where the past, present, and future of cryptocurrencies come together in one place and time. Decode: Legacy is Coming @token2049 In Singapore, we are delighted to be co-hosting with two industry giants. @ATIRcloud and… pic.twitter.com/TDaJR0GNAc — HashKey Capital (@HashKey_Capital) August 23, 2024According to…
According to analysis, Bitcoin (BTC) is competing with “new investors” in a similar fashion to its 2020 all-time high.In a September 2 Quicktake blog post, on-chain analytics platform CryptoQuant compared the current short-term holding trend to mid-2019.Bitcoin All-Time High Buyers Take a HitPeople who bought Bitcoin in the last six months are either holding on or selling at a loss after the BTC price has been trading sideways for half a year.According to CryptoQuant contributor Avocado_onchain, the surge in unspent transaction outputs (UTXOs) that are six months or younger reflects the excitement that followed Bitcoin’s all-time high of $73,800 in…
Veteran LUNC chain validator accused of violating fair play rules The community strives to address the rapidly increasing centralization problem. Terra Luna Classic fell 16% due to very low volume. The Layer-1 blockchain of Terra Luna Classic (LUNC) is facing another downturn as linguistic conflicts between chain validators emerge. Specifically, member BullBoss5 has written a proposal to address violations of the Dynamic Commission mechanism.“First, we should issue a proposal that clarifies the dynComm rules and formally warns JIL2 of the violation, but does not impose any immediate consequences,” the CommonWealth text of the proposal reads. This proposal implies that the…
Law • September 3, 2024 10:49 AM EDT Posted 1 minute earlier ~ in A Scottish court has seized £110,000 worth of Bitcoin from a man believed to be the “technical brains” behind a 2020 cryptocurrency attack and robbery, according to the BBC.According to the report, prosecutors seized the bitcoins and converted them into cash. The bitcoins belonged to John Ross Rennie, who was “convicted of possession of stolen property.”Lenny, who taught the robbers how to move the cryptocurrency, was believed to be the “brainchild” of the scheme to force a man to move his Bitcoin after beating him in…
Wang Long Chai 03 Sep 2024 14:45 Binance Bahrain BSC(c) now serves South African derivatives users, complying with local regulations. As a measure to comply with local regulatory requirements, Binance Bahrain BSC(c) is now the entity providing derivatives services to South African residents. According to an official announcement from Binance, this transition is part of Binance’s efforts to comply with regulatory obligations. Impact on South African Derivatives Users South African users using Binance’s derivatives products will need to register a new account with Binance Bahrain and agree to its terms and conditions. Users will…
Injective, a popular Cosmos-based blockchain for decentralized finance, continues to retreat amid ecosystem concerns. The Injective (INJ) token fell to $16.90 on September 3, its lowest level since August 8. It has fallen more than 67% from its high this year, wiping out most of its gains in 2023. Its valuation has fallen from $4.8 billion in March to $1.65 billion. Challenges to the ecosystem still remain Injective’s price action coincided with a sell-off in most altcoins, with the Fear and Greed Index for cryptocurrencies remaining at a neutral level of 47. This decline comes despite a significant increase in…
According to a Web3 gaming executive, the sheer number of blockchains is creating problems for blockchain gaming. According to Sebastian Borje, co-founder of The Sandbox and president of the Blockchain Game Alliance, the sheer number of blockchains means that users are spread across many different networks, none of which boasts a massive user base. Borget told Web3 Gamer that one of the industry’s biggest challenges is that there is “too much blockchain.” Gaming companies need to figure out which blockchain ecosystem to choose among the many options available, including Layer 1, Layer 2, and Layer 3 blockchains such as ImmutableX,…
Key highlights: WazirX Hacker Moves $6.5 Million Worth of ETH to Tornado Cash In July 2023, WazirX suffered a hack that resulted in a loss of $230 million. WazirX is undergoing restructuring and allowing some withdrawals. Clients can expect to recover only 55%-57% of their funds. North Korean hacking group Lazarus suspected of being behind this attack The hackers responsible for the $230 million WazirX breach in July began moving the stolen funds through the cryptocurrency mixing service Tornado Cash on September 3, 2024. According to blockchain security firm PeckShield, the attackers transferred 2,600 ETH, worth approximately $6.5 million, to…