Vega Protocol Shuts Down Its Blockchain 🚨
Vega Protocol has voted to retire its Layer 1 blockchain due to low traction. Despite raising $60M in 2021, with $11M from funds and the rest from ICO investors, the token's value has crashed from $21 to just $0.06— a staggering 99.7% drop. 📉
Validators will keep nodes active until at least Oct. 27 for asset withdrawals.
👀 In future Vega will support Nebula, a new DEX using its tech, offering NEB tokens to VEGA holders.
Investors, remember: such dramatic shifts can happen to any project. 🤷 Stay alert!
Vega Protocol has voted to retire its Layer 1 blockchain due to low traction. Despite raising $60M in 2021, with $11M from funds and the rest from ICO investors, the token's value has crashed from $21 to just $0.06— a staggering 99.7% drop. 📉
Validators will keep nodes active until at least Oct. 27 for asset withdrawals.
👀 In future Vega will support Nebula, a new DEX using its tech, offering NEB tokens to VEGA holders.
Investors, remember: such dramatic shifts can happen to any project. 🤷 Stay alert!
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The Blum app secured investments from Binance Labs. 💰
Blum became the first tap-to-earn project built on a Telegram mini-app to be selected for the Most Valuable Builder (MVB) incubation program and receive funding from Binance Labs. 🚀
Blum became the first tap-to-earn project built on a Telegram mini-app to be selected for the Most Valuable Builder (MVB) incubation program and receive funding from Binance Labs. 🚀
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🗣 Vitalik Buterin announced that starting next year, he will only publicly support and mention Layer 2 solutions that have become less reliant on manual control by developers.
👀 For this, 75% of the decision-making council should have the power to cancel or override the proof system, with at least 26% of the council being independent of the development team.
Buterin mentioned that teams working on ZK-rollups aim to reach this level by the end of the year. ⌛️
He sees this as the beginning of a new era, where cryptographic proofs, rather than trust in teams or individuals, will underpin the security and functionality of these solutions. 🧐
👀 For this, 75% of the decision-making council should have the power to cancel or override the proof system, with at least 26% of the council being independent of the development team.
Buterin mentioned that teams working on ZK-rollups aim to reach this level by the end of the year. ⌛️
He sees this as the beginning of a new era, where cryptographic proofs, rather than trust in teams or individuals, will underpin the security and functionality of these solutions. 🧐
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🇳🇬 Nigeria is actively freezing the bank accounts of Kucoin and Bybit users
The local regulator accusing them of manipulating the naira, as well as trading in proceeds from criminal activities and funds intended for terrorism. 🧐
Previously, the Central Bank of Nigeria accused Binance of engaging in illegal banking operations, and local authorities arrested Tigran Gambaryan, a top executive of the exchange.
The local regulator accusing them of manipulating the naira, as well as trading in proceeds from criminal activities and funds intended for terrorism. 🧐
Previously, the Central Bank of Nigeria accused Binance of engaging in illegal banking operations, and local authorities arrested Tigran Gambaryan, a top executive of the exchange.
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Grayscale is set to launch the first U.S.-based XRP fund, with the goal of eventually converting it into a spot XRP ETF. 🚀
Investments will be available only to accredited investors who meet the requirements. 🧐
XRP's price reacted with an immediate increase. 📈
Investments will be available only to accredited investors who meet the requirements. 🧐
XRP's price reacted with an immediate increase. 📈
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BTC price trends before and after El Salvador started buying 1 BTC daily 🇸🇻
👀 For the past 665 days, Nayib Bukele's government has been steadily purchasing Bitcoin, now holding 5,871 BTC ($342 million).
Initially, El Salvador made large, bulk purchases like most, but after getting burned by buying at market peaks, they shifted to a more cautious daily buying strategy. 🧐
It’s a more relaxed approach than stressing over market timing later. 😁
👀 For the past 665 days, Nayib Bukele's government has been steadily purchasing Bitcoin, now holding 5,871 BTC ($342 million).
Initially, El Salvador made large, bulk purchases like most, but after getting burned by buying at market peaks, they shifted to a more cautious daily buying strategy. 🧐
It’s a more relaxed approach than stressing over market timing later. 😁
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In the first half of 2024, stablecoins facilitated transactions totaling $2.6 trillion. 💵
Visa and Castle Island Ventures project that by the end of the year, this volume could soar to $5.28 trillion.
Stablecoins are predominantly utilized for cross-border payments, remittances, payroll, and trading, especially in emerging markets like Nigeria and Brazil.
📊 Key Stats:
▪️47% use stablecoins for savings
▪️43% for better currency conversion
▪️39% for earning yields
57% of users have increased their stablecoin use over the past year, and 72% expect this trend to continue. 🌐💸
Visa and Castle Island Ventures project that by the end of the year, this volume could soar to $5.28 trillion.
Stablecoins are predominantly utilized for cross-border payments, remittances, payroll, and trading, especially in emerging markets like Nigeria and Brazil.
📊 Key Stats:
▪️47% use stablecoins for savings
▪️43% for better currency conversion
▪️39% for earning yields
57% of users have increased their stablecoin use over the past year, and 72% expect this trend to continue. 🌐💸
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CEX.IO Resumes UK Crypto Operations 🇬🇧
After a hiatus, CEX.IO is back in the UK following compliance with new FCA regulations.
👀 Last year, new rules on crypto asset promotions led CEX.IO to voluntarily suspend its UK services. Now, with the FCA's requirements met, including risk warnings and investor assessments, the exchange is ready to reenter the market.
After a hiatus, CEX.IO is back in the UK following compliance with new FCA regulations.
👀 Last year, new rules on crypto asset promotions led CEX.IO to voluntarily suspend its UK services. Now, with the FCA's requirements met, including risk warnings and investor assessments, the exchange is ready to reenter the market.
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🌍 Top 10 Countries for Crypto Adoption According to Chainalysis🚀
🔍 Chainalysis has released its annual ranking of countries by cryptocurrency adoption, based on the Global Crypto Adoption Index. This index is calculated by analyzing millions of crypto transactions and over 13 billion visits to major crypto service websites.
The top five countries leading the way in crypto adoption are:
1️⃣ India
2️⃣ Nigeria
3️⃣ Indonesia
4️⃣ USA
5️⃣ Vietnam
The ranking considers both major exchanges and decentralized services, evaluating the volume of funds in retail transactions. 🌐💸
🔍 Chainalysis has released its annual ranking of countries by cryptocurrency adoption, based on the Global Crypto Adoption Index. This index is calculated by analyzing millions of crypto transactions and over 13 billion visits to major crypto service websites.
The top five countries leading the way in crypto adoption are:
1️⃣ India
2️⃣ Nigeria
3️⃣ Indonesia
4️⃣ USA
5️⃣ Vietnam
The ranking considers both major exchanges and decentralized services, evaluating the volume of funds in retail transactions. 🌐💸
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📈 Standard Chartered Predicts Bitcoin Will Hit New Highs Regardless of US Elections 🇺🇸
🔍 Standard Chartered analysts forecast that Bitcoin will reach new all-time highs by the end of the year, regardless of the US election results. They estimate Bitcoin could surge to $125K if Trump wins and $75K if Harris prevails. 🧐
While US political policies do influence crypto prices, the bank believes other factors play a more significant role.
Earlier this year, they projected Bitcoin might hit $150K by December 2024 and $200K by the end of 2025, with Ethereum possibly reaching $8K and $14K, respectively. 🚀
In contrast, Bernstein's recent report suggests Bitcoin might peak if Trump wins but could drop to $30-40K if Harris wins. Stay tuned for more updates! 🌟📊
🔍 Standard Chartered analysts forecast that Bitcoin will reach new all-time highs by the end of the year, regardless of the US election results. They estimate Bitcoin could surge to $125K if Trump wins and $75K if Harris prevails. 🧐
While US political policies do influence crypto prices, the bank believes other factors play a more significant role.
Earlier this year, they projected Bitcoin might hit $150K by December 2024 and $200K by the end of 2025, with Ethereum possibly reaching $8K and $14K, respectively. 🚀
In contrast, Bernstein's recent report suggests Bitcoin might peak if Trump wins but could drop to $30-40K if Harris wins. Stay tuned for more updates! 🌟📊
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🚨SEC's Shifting Stance on Crypto Assets: What's Going On?
The SEC is stirring up confusion by claiming it never meant for "crypto asset securities" to imply that tokens themselves are securities. Despite using the term frequently, the SEC now says it refers to the full context of contracts and sales expectations, not the assets themselves. 🧐😁
👀 In its updated complaint against Binance, the SEC admits its terminology might have caused confusion and vows to stop using it.
Critics, including legal experts and industry leaders, are baffled and accuse the SEC of extreme gaslighting and contradictions. Ripple's lawyers argue that the SEC's stance is "a twisted pretzel of contradictions." 🥨
The SEC’s lawsuit against Binance continues, alleging violations of securities laws and claiming that some crypto assets are investment contracts under the Howey test. 😶🌫️
The SEC is stirring up confusion by claiming it never meant for "crypto asset securities" to imply that tokens themselves are securities. Despite using the term frequently, the SEC now says it refers to the full context of contracts and sales expectations, not the assets themselves. 🧐😁
👀 In its updated complaint against Binance, the SEC admits its terminology might have caused confusion and vows to stop using it.
Critics, including legal experts and industry leaders, are baffled and accuse the SEC of extreme gaslighting and contradictions. Ripple's lawyers argue that the SEC's stance is "a twisted pretzel of contradictions." 🥨
The SEC’s lawsuit against Binance continues, alleging violations of securities laws and claiming that some crypto assets are investment contracts under the Howey test. 😶🌫️
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The CEO of CryptoQuant, Ki Young Ju, revealed a significant profit disparity between old Bitcoin investors and new market entrants.
His analysis shows that:
▪️Long-term investors and miners, who acquired Bitcoin at lower prices, are seeing substantial profits.
▪️New custodial wallet holders and ETF investors, who bought in at around $62,000, are currently experiencing a 6% loss.
▪️Traders who entered at $55,000 are holding a modest 3% profit.
▪️Mining firms are enjoying a 32% profit, having secured their Bitcoin at $43,000.
▪️The biggest winners are the "old whales," with a 106% gain, having bought Bitcoin at $27,000.
His analysis shows that:
▪️Long-term investors and miners, who acquired Bitcoin at lower prices, are seeing substantial profits.
▪️New custodial wallet holders and ETF investors, who bought in at around $62,000, are currently experiencing a 6% loss.
▪️Traders who entered at $55,000 are holding a modest 3% profit.
▪️Mining firms are enjoying a 32% profit, having secured their Bitcoin at $43,000.
▪️The biggest winners are the "old whales," with a 106% gain, having bought Bitcoin at $27,000.
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🥷 The WazirX hacker has successfully laundered approximately 27,600 ETH ($65.5 million) so far.
Currently, they hold 34,154 ETH ($82.6 million), which is about 55% of the stolen funds. The rest is in tokens like CELR, OOKI, FRONT, and LOOM. 💰
Over the past week, the hacker transferred 20,000 ETH ($46.97 million) through the Tornado Cash mixer. 🧐
Currently, they hold 34,154 ETH ($82.6 million), which is about 55% of the stolen funds. The rest is in tokens like CELR, OOKI, FRONT, and LOOM. 💰
Over the past week, the hacker transferred 20,000 ETH ($46.97 million) through the Tornado Cash mixer. 🧐
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🔎 Binance analysts have discovered dangerous malware called Clipper, which changes the withdrawal address during a transaction.
This malware intercepts data from the clipboard and primarily targets cryptocurrency wallet addresses. 🧐
⚠️ Be extremely cautious with the apps and plugins you install, especially on Android and web applications.
This malware intercepts data from the clipboard and primarily targets cryptocurrency wallet addresses. 🧐
⚠️ Be extremely cautious with the apps and plugins you install, especially on Android and web applications.
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