Los Angeles, CA, February 7, 2024, Chainwire Key Takeaways Focus, an innovative decentralized SocialFi app, raised $75 million in one week. Focus competes with subscription platforms like OnlyFans and Patreon, which are billion-dollar industries. Users can reserve with DESO, BTC, ETH, etc. to receive a 90% bonus in $FOCUS tokens for a limited time. Focus, a new decentralized SocialFi app built on the DeSo blockchain, has made waves in the cryptocurrency industry by accumulating over $75 million in token reservations in just its first week of launch. This unprecedented achievement not only demonstrates the platform’s potential, but also reflects growing…
Author: Crypto Flexs
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The decentralized finance (DeFi) ecosystem marked a significant milestone as the total value of locked assets (TVL) surpassed $60 billion, returning to levels last seen in August 2022.According to data from DeFiLlama, the sector surged 68% to $60.72 billion compared to November 2023, when TVL was around $36 billion.DeFi TVL (Source: DeFillama)TVL’s upward trajectory signals strong investor confidence as more users deposit their assets to participate in decentralized finance activities.Market analysts attribute this growth to the recent surge in the price of the cryptocurrency asset, fueled by rumors surrounding a Bitcoin exchange-traded fund (ETF). The rally, which has captured the…
ERC404, an NFT cryptocurrency hybrid called Ethereum’s experiment, is known to have generated a total trading volume of $87 million on DEX, or decentralized exchanges. The same figure for NFT marketplaces is just under $1 million. The new token combines the properties of fungible tokens and non-fungible tokens (NFTs). The ultimate goal is to increase liquidity and trading flexibility. ERC404 is implemented through Replicants, a collection of NFTs. Those products can be sold on NFT marketplaces like OpenSea or Blur, or DEXs like UniSwap. Interest in replicants reached a peak where the price rose from 0.38 ETH to 4.26 ETH.…
In a legal document filed on February 6, 2024, cryptocurrency giant Digital Currency Group (DCG) expressed opposition to Genesis’ revised bankruptcy strategy due to several concerns. DCG claims the plan unfairly favors certain creditors over others, and the company’s legal team accuses Genesis of breaching its fiduciary responsibility and making the proposal in bad faith.advertising DCG raises legal concerns over Genesis bankruptcy strategy, seeks rejection of plan Attorneys at Weil, Gotshal and Manges LLP representing Digital Currency Group (DCG) have filed a formal objection to Genesis’ updated bankruptcy plan, claiming it violates Section 1129 of the Bankruptcy Code. DCG argues…
In recent years, cryptocurrencies have become increasingly popular and are widely used for various transactions and investments. One particular cryptocurrency that has garnered attention is BigCoin. Due to its innovative features and growth potential, many are speculating that BigCoin could be the future of cryptocurrency. In this article, we will learn more about BigCoin and explore its potential as the next big coin in the world of digital currencies. What is Big Coin? BigCoin is a decentralized digital currency that leverages blockchain technology to facilitate secure and transparent transactions. It was created with the intention of providing a more efficient…
A mysterious cryptocurrency whale or entity appears to have gobbled up a massive amount of the native assets of decentralized oracle network Chainlink (LINK), according to blockchain tracking firm Lookonchain. Look on chain note Over two days, a total of 47 new wallets withdrew 2,237,504 LINK worth $42.38 million from Binance, the leading cryptocurrency exchange. Source: Lookonchain/X LINK is trading at $18.21 at the time of this writing. The 13th-largest cryptocurrency asset by market capitalization is down more than 5% in the last 24 hours, but is up nearly 15% in the past week and more than 39% in the…
The Federal Reserve has ended enforcement actions against Farmington State Bank, which was linked to bankrupt cryptocurrency exchange FTX, meaning the bank has been taken out of operations and has stepped up efforts to protect depositors. The U.S. Federal Reserve announced it was ending enforcement actions against Farmington State Bank, a financial institution previously implicated in the now-defunct cryptocurrency exchange FTX. The move comes after the bank effectively ceased operations and stepped away from its role as a banking institution to protect the interests of depositors. Farmington State Bank, which operated under the name Moonstone Bank before joining FTX’s trading…
The SEC has extended the review period for Invesco and Galaxy Digital’s Ether ETF, potentially by up to 240 days, allowing for public comment. The U.S. Securities and Exchange Commission (SEC) recently decided to postpone its judgment on Invesco and exchange-traded funds (ETFs). galaxy digital Spot Ether (ETH) currency offered. During this delay, the Securities and Exchange Commission (SEC) will conduct a comprehensive evaluation of the feasibility of listing and trading the exchange-traded fund (ETF) on the Cboe BZX exchange. The U.S. Securities and Exchange Commission (SEC) extended the final decision period by another 35 days to allow the public…
The Updated Stateless Ethereum Tech Tree Apologies for the delay in releasing this post; there have been some unavoidable distractions in my life recently, as I’m sure there have been in yours. I hope that you are making the best of your circumstances, whatever they may be, and implore you to turn your empathy up to eleven for the next few months, and to help your community’s at-risk people in whatever capacity you can :pray:. With that said, let’s talk about Stateless Ethereum, and the changes to the Tech Tree! Graphically, the tree has been completely re-worked, but if you…
Cryptocurrency markets are currently buzzing with anticipation as the Bitcoin (BTC) bull market is off to a strong start in the last week of January following last week’s bullish hammer candlestick pattern. This momentum is not limited to BTC. The altcoin market is also preparing for a significant rebound. Bitcoin’s initial price fluctuations due to increased trading volume in spot ETFs were absorbed, setting the stage for a period of consolidation. Moreover, the ETH/BTC pair is on the verge of a historic price reversal, suggesting that altcoin speculation is imminent. The increase in stablecoin supply, led by Tether’s USDT and…