Browsing:Crypto

What is Shiba Inu crypto
1 year ago 1 min read

What is Shiba Inu Crypto?

Shiba Inu is a cryptocurrency that was created in August 2020 as a decentralized alternative to the popular cryptocurrency Dogecoin. It is based on the Ethereum blockchain and uses the ERC-20 token standard. The name “Shiba Inu” comes from a breed of Japanese dog and was chosen because the developers of the cryptocurrency wanted to create a fun and lighthearted alternative to other cryptocurrencies. The Shiba Inu logo is a stylized image of a Shiba Inu dog’s face. Shiba Inu’s main selling point is its decentralized nature, which means that it is not controlled by any central authority or organization.

Logan Paul withdraws defamation lawsuit against Coffeezilla, offers apology
1 year ago 1 min read

YouTube star Logan Paul reverses course, apologizes in defamation case against Coffeezilla

Logan Paul, a YouTuber, has deleted a video in which he threatened to sue internet detective Stephen “Coffeezilla” Findeisen over a series of videos that accused Paul’s CryptoZoo project of being a “scam.” According to Findeisen, Paul has promised to drop his plans to file a defamation lawsuit against him and has apologized for his initial response. The dispute began when Findeisen released the first of his three-part video series on December 17, accusing CryptoZoo of various unethical business practices and naming Paul as the face of the project. In his now-deleted response, Paul accused Findeisen of defamation and said,

Circle Reserve Fund USDC
1 year ago 1 min read

65% of USDC reserves held in US Treasury securities

As of November 30, 2022, Circle had a total of 43.23 billion USDC in circulation, with $43.4 billion in reserves to back it up. On November 3, Circle established the Circle Reserve Fund, a money market fund administered by BlackRock and owned by Circle, to which they transferred 29.5% of the stablecoin reserves ($12.79 billion). This amount has since grown to $28.6 billion, or 65% of the total USDC reserves. The remaining $19.41 billion of USDC reserves was held in Treasury bills directly by Circle. Combined, the reserves stored in Treasury bills directly and through the Reserve Fund amounted to

Solana
1 year ago 1 min read

Solana Foundation RPC shuts down unexpectedly

Due to a bug in the Solana Validator client’s test release 1.14, the Remote Procedure Call (RPC) endpoints used by crypto apps and wallets to access the Solana blockchain are temporarily offline. However, block production has not been affected, unlike previous outages which caused a freeze in block production for several hours. There are private RPC services such as Triton, QuickNode, and Alchemy that are still up and running and can be utilized. Austin Federa, the head of strategy and communications at the Solana Foundation, reported that the issue only applies to the RPC endpoints run by the Solana Foundation,

Court documents exposed that FTX spent around $40 million
1 year ago 1 min read

FTX spent millions on food, flights, and hotels in short period, court papers reveal

Court documents exposed that FTX Digital Markets spent a whopping $40 million from January to September 2023 before being declared bankrupt due to a lack of liquidity. Over $15 million was used for luxurious accommodations, with $5.8 million going to the Albany Hotel where its CEO Sam Bankman-Fried had a $30 million penthouse. About $7 million was utilized for meals and entertainment, with half of it being allocated to catering services. Flights cost FTX almost $4 million, and more than $500,000 was consumed by postage and delivery. The company also made a private agreement with an airline to ship their

The US has served subpoenas to hedge funds in relation to Binance Global
1 year ago 1 min read

US authorities issue subpoenas to hedge funds as part of Binance investigation

US federal prosecutors have reportedly issued subpoenas to several hedge funds as part of an ongoing investigation into potential money laundering violations by Binance Global Inc., according to the Washington Post. The US attorney’s office for the Western District of Washington in Seattle is seeking records of the subpoenaed firms’ communications with Binance, according to sources familiar with the matter. It is not yet clear if the subpoenas will lead to legal charges being brought against Binance. Furthermore, the US Justice Department is reportedly divided on whether to charge Binance and its executives as part of its anti-money laundering investigation

The former president of FTX US
1 year ago 1 min read

Former FTX US President Harrison promises to disclose information about exchange

Brett Harrison, the former president of FTX US, has stated that he plans to share information about the operations of the crypto exchange. In a Twitter post, Harrison replied to a question about what he knew about FTX US and when, stating simply, “I’ll share in time.” Harrison resigned from his position as president of FTX US in September of last year, prior to the crisis that led to the exchange’s collapse. Prior to joining FTX US in May 2021, Harrison was an executive at Citadel Securities, where he worked in high-speed trading. The former CEO of FTX’s sister trading

Ferrari ended partnership with Velas Blockchain
1 year ago 1 min read

Ferrari ends partnership with Velas Blockchain and Snapdragon

Scuderia Ferrari, the racing division of luxury carmaker Ferrari, has ended its partnerships with Velas Blockchain and Snapdragon, resulting in a loss of $55 million for the team ahead of the 2023 Formula One season. The partnership with Velas, worth $30 million per year, was intended to increase fan engagement through the use of non-fungible tokens (NFTs) and other shared initiatives. However, the team reportedly failed to meet the clauses that allowed Velas to create NFT images. Mercedes also suffered a loss of $15 million in November 2022 after ending its partnership with FTX, which filed for Chapter 11 bankruptcy.

Mastercard and Polygon
1 year ago 1 min read

Mastercard and Polygon collaborate on Web3 artist accelerator program

At the 2021 Consumer Electronics Show in Las Vegas, Mastercard unveiled its Artist Accelerator program, which will utilize the Polygon blockchain to help emerging musicians, DJs, and producers expand their brands. The program will run until the end of the year and will culminate in a live-streamed artist showcase. Five selected participants will gain access to a variety of resources and tools to help them succeed in the digital economy. Additionally, Mastercard will be releasing a limited edition NFT, “The Mastercard Music Pass,” which will give holders access to exclusive music educational materials, unique resources, and other physical and digital

Avalanche blockchain
1 year ago 1 min read

Avalanche DEX sees positive movements, could it lead to AVAX rally?

Since April, the AVAX token of Avalanche, the blockchain company behind the decentralized cryptocurrency exchange Trader Joe, has been unable to break through its resistance level. Nevertheless, Trader Joe’s services, such as lending, leveraging, staking, and farming, have made considerable strides in recent weeks. According to data from Dune Analytics, the trade swap volume of Trader Joe reached its zenith in December 2022 and has been rising since then. USDC/WETH and GMX/WETH swaps comprised the majority of the volume, and a closer examination of the protocol’s trading volume for each liquidity pool showed a large number of transactions, demonstrating abundant

quantum computers
1 year ago 1 min read

Chinese scientists claim to have broken encryption with quantum computers

Chinese researchers have claimed that they have used quantum computers to break the standard RSA algorithm, which is used for encryption by many industries, including banking, mobile phones, and data storage. The researchers published a “scientific paper” last month stating that they had used their algorithm to factor a number with 48 bits on a quantum computer with ten qubits, but had not yet tried to scale it up to work on a larger system. Many experts have called the claims hype-driven and lacking a proof of concept that would demonstrate the successful breaking of current encryption standards. Encryption helps

Digital Currency Group (DCG) shuts down
1 year ago 1 min read

End of the road for Digital Currency Group’s Genesis wealth management subsidiary

Due to the “prolonged crypto winter” and the “broader economic environment,” Digital Currency Group (DCG) has announced that it is shutting down its wealth management subsidiary, HQ Digital, which launched in June 2022. The DCG spokesperson stated that the company may eventually revive HQ Digital in the future. This news comes in the wake of issues at another DCG subsidiary, Genesis Global Capital, which suspended withdrawals and loan redemptions in November and is reportedly exploring a potential bankruptcy filing. DCG holds a variety of other crypto companies, such as CoinDesk, Grayscale, Foundry, Luno, and TradeBlock. So far, only Luno has

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