Decentralized finance protocol Yearn.finance is hoping an arbitrage trader will return $1.4 million in funds after a multi-signature scripting error, depleting a significant portion of the protocol’s funds.“An incorrect multisig script led to the exchange of 3,794,894 lp-yCRVv2 tokens, Yearn’s entire treasury balance,” Yearn contributor “dudesahn” said in a Dec. 11 GitHub post. An error occurred while converting yVault LP-yCurve (lp-yCRVv2), which Yearn earned as a performance fee for vault harvesting, to a stablecoin on decentralized exchange CowSwap. $1.4 million loss Yearn Finance said the faulty script caused its treasury fund to lose about $1.4 million.Their team later claimed that…
Author: Crypto Flexs
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Bitcoin (BTC) and cryptocurrencies may soon see another massive wave of adoption among U.S.-based businesses following new accounting rule changes that will allow companies to more accurately reflect the value of their cryptocurrency holdings. Cory Klippsten, CEO of Swan Bitcoin, a Bitcoin-only exchange, told Cointelegraph that both MicroStrategy and Bitcoin-holding companies like Tesla have been required to report impairments in their holdings, which “now more accurately reflects the actual value of Bitcoin investments.” “You can do it,” he said.“This change is important for companies primarily focused on Bitcoin, as well as a broad range of companies to encourage more mainstream…
Bitwise Invest, an investment company specializing in cryptocurrency, recently unveiled its highly anticipated cryptocurrency. prediction 2024. These predictions provide a glimpse into the future of the cryptocurrency industry, highlighting key milestones and potential breakthroughs for the largest cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) and exchanges like Coinbase. Bitcoin is expected to break records Bitwise’s first prediction suggests that Bitcoin will surpass previous records and trade above $80,000, setting a new all-time high. The company attributes this optimistic outlook to two key catalysts. Spot Bitcoin Exchange Traded Fund (ETF) is expected to launch in early 2024 and new Bitcoin supply…
A little more than a year after the collapse of the FTX cryptocurrency exchange, the Commodity Futures Trading Commission voted to propose rules that would strengthen customer protections for those trading through derivatives clearing houses.The rules, called “Protection of Clearing Member Funds Held by Derivatives Clearing Agencies,” require institutions and DCOs registered for clearing transactions to segregate client funds, including money from individual investors, from their own home funds. CFTC Commissioners Summer Mersinger and Christy Goldsmith Romero voted against, while CFTC Commissioner Kristin Johnson and CFTC Chairman Rostin Behnam voted in favor on Wednesday. Commissioner Caroline Pham agreed. This proposal…
The SEC has decided to extend the deadline until February 6, 2024 to approve or reject the Invesco Galaxy Ethereum ETF application. Cboe BZX Exchange recently filed a proposed rule change with the Securities and Exchange Commission (SEC) regarding the listing and trading of the Invesco Galaxy Ethereum ETF. SEC Implements New Deadline The proposal was published in the Federal Register on November 8, 2023, for public comment. However, the filing states that the SEC must take action within 45 days after notice of the proposed rule change is published. This expansion allows for more thorough scrutiny of proposed rule…
A prominent cryptocurrency analyst by the name of LuckSide Crypto shared his bullish outlook for Cardano in his latest YouTube video on December 12th. Despite the market performing like shit right now, ADA has actually been pretty resilient. Luxide Cryptocurrency While acknowledging widespread confusion, he cited technical analysis indicators that suggest Cardano (ADA) has bottomed and is poised for a breakout. In particular, the LuckSide Crypto host pointed out a bullish pennant pattern forming on ADA’s price chart, which usually indicates a continuation of a previous trend. We’re printing these cool, big optimistic pendants. Luxide Cryptocurrency As for what triggered…
The fusion of cryptocurrency and online gambling has heralded a transformative era in the realm of digital entertainment, offering a dynamic landscape where technology and finance intersect. At the forefront of this evolution is the journey from the inception of Bitcoin to the integration of cryptocurrencies in traditional casino games like Baccarat. This article aims to explore the intricate relationship between cryptocurrency and online gambling, tracing the historical emergence of Bitcoin, its impact on the industry, and the subsequent diversification of cryptocurrencies. From the advent of decentralized gambling platforms to the integration of smart contracts, the evolution is marked by…
We are pleased to introduce trailing stop orders, now available on all spot and futures markets through the Kraken Pro web interface. This new conditional order type seeks to secure maximum upside without the need to repeatedly re-adjust orders manually. Trailing stop orders allow you to remain dynamic and lock in profits at a specific level if the price rally reverses against your preferred direction. What is a trailing stop order? A tracking stop order is a type of conditional stop order that automatically adjusts as the market price of an asset changes. Traders use this when they want to…
Ethereum co-founder Vitalik Buterin introduced a new concept for a blockchain platform “embedded in the Zero Knowledge Ethereum Virtual Machine (ZK-EVM)” in a blog post on December 13.The main goal of the proposal is to substantially improve the efficiency and security of Ethereum’s Layer-2 protocols, including optimistic and ZK rollups.Troubleshooting Layer 2 ProtocolsButerin’s proposal stems from the need to streamline Ethereum’s current Layer-2 solutions. These protocols, essential to Ethereum’s scalability, currently rely heavily on EVM verification, which relies on a large, potentially vulnerable codebase.Additionally, ZK-EVM, designed to mimic Layer-1 EVMs, faces the challenge of keeping up with changes to the…
JPMorgan expects Ethereum to surpass Bitcoin and other cryptocurrencies in 2024, but the bank remains generally “cautious” about the cryptocurrency market next year.“We will next year Ethereum ETH +2.81% JPMorgan analysts led by Nikolaos Panigirtzoglou will look to reassert themselves on Wednesday and recapture market share within the cryptocurrency ecosystem. “The main catalyst is the EIP-4844 upgrade, or Protodanksharding, which is expected to occur during the first period. We believe this upgrade will be a further step forward in improving Ethereum network activity, helping Ethereum perform better. “I believe it will help.”Protodanksharding is the first step toward a full implementation…