Binance Burned Over $575 Million in BNB 🔥
Cryptocurrency exchange Binance held its twenty-second quarterly Binance Coin (BNB) token burn. 2.06 million coins worth over $575 million were withdrawn from circulation.
The company launched a burn program in 2017 with the goal of withdrawing 100 million tokens from circulation - half of the total supply. From 2021, the number of coins to be removed is automatically calculated using the Auto-Burn formula.
“BNB Auto-Burn provides an unbiased and independent review process. The numbers are reported quarterly and this mechanism is independent of Binance. In addition, BNB Chain still continues to burn part of the gas fee in real time using the Real-Time-Burn mechanism,” Binance CEO Changpeng Zhao said in a statement.
Of the total volume of coins withdrawn from circulation in the quarter, 7,181 BNB came from the Pioneer Burn program. The engine has burned over 145,000 BNB since its launch through the activation of the BEP-95 update.
Cryptocurrency exchange Binance held its twenty-second quarterly Binance Coin (BNB) token burn. 2.06 million coins worth over $575 million were withdrawn from circulation.
The company launched a burn program in 2017 with the goal of withdrawing 100 million tokens from circulation - half of the total supply. From 2021, the number of coins to be removed is automatically calculated using the Auto-Burn formula.
“BNB Auto-Burn provides an unbiased and independent review process. The numbers are reported quarterly and this mechanism is independent of Binance. In addition, BNB Chain still continues to burn part of the gas fee in real time using the Real-Time-Burn mechanism,” Binance CEO Changpeng Zhao said in a statement.
Of the total volume of coins withdrawn from circulation in the quarter, 7,181 BNB came from the Pioneer Burn program. The engine has burned over 145,000 BNB since its launch through the activation of the BEP-95 update.
⚙️ Frontier Begins Multi-Function Integration to Serve Avalanche’s DeFi Ecosystem
Frontier will support AVAX staking, NFT support, and TrueUSD native on Avalanche.
Frontier is integrating with Avalanche to natively support AVAX staking, NFTs, and TrueUSD (TUSD) in the Frontier Application (slated for completion in March 2021). Not only will this expand the wallet options and functionality for users already within Avalanche’s ecosystem, but it will also empower more users to seamlessly access decentralized finance (DeFi) applications within it.
Frontier is a chain-agnostic DeFi aggregator that enables users to manage all of their DeFi applications and assets in a safe, simple portal.
🗓 Since Summer 2020, Frontier prioritized wallet composability to streamline the user experience for blockchain wallet users. Wallet composability enables users to choose the desired wallet to perform certain operations, and with TxLink, Frontier is minimizing the complexities of wallet management.
Frontier will support AVAX staking, NFT support, and TrueUSD native on Avalanche.
Frontier is integrating with Avalanche to natively support AVAX staking, NFTs, and TrueUSD (TUSD) in the Frontier Application (slated for completion in March 2021). Not only will this expand the wallet options and functionality for users already within Avalanche’s ecosystem, but it will also empower more users to seamlessly access decentralized finance (DeFi) applications within it.
Frontier is a chain-agnostic DeFi aggregator that enables users to manage all of their DeFi applications and assets in a safe, simple portal.
🗓 Since Summer 2020, Frontier prioritized wallet composability to streamline the user experience for blockchain wallet users. Wallet composability enables users to choose the desired wallet to perform certain operations, and with TxLink, Frontier is minimizing the complexities of wallet management.
Glassnode pointed to the likely achievement of a local maximum of bitcoin
The “explosive” rally of bitcoin at the beginning of the year nullified the “paper” losses of investors and miners and at the same time called into question the continuation of positive dynamics, based on the state of on-chain metrics.
The aSOPR indicator has approached testing the 1.0 resistance level, overcoming which, followed by a retest, may be a sign of the end of the bearish trend. This would indicate that there is sufficient demand to absorb the selling caused by profit taking.
The specialists made a similar conclusion on the basis of realized losses/gains in dollar terms. Following the results of the previous week, the indicator overcame a significant milestone at around 1.0.
Resistance can also be identified in terms of technical analysis. Experts pointed to the price exceeding the 200-day simple moving average from the bottom-up near $19,500. For 381 days before that, the quotes were below the designated mark.
The “explosive” rally of bitcoin at the beginning of the year nullified the “paper” losses of investors and miners and at the same time called into question the continuation of positive dynamics, based on the state of on-chain metrics.
The aSOPR indicator has approached testing the 1.0 resistance level, overcoming which, followed by a retest, may be a sign of the end of the bearish trend. This would indicate that there is sufficient demand to absorb the selling caused by profit taking.
The specialists made a similar conclusion on the basis of realized losses/gains in dollar terms. Following the results of the previous week, the indicator overcame a significant milestone at around 1.0.
Resistance can also be identified in terms of technical analysis. Experts pointed to the price exceeding the 200-day simple moving average from the bottom-up near $19,500. For 381 days before that, the quotes were below the designated mark.
🔥Bernstein predicted crypto industry revenues of $400 billion by 2033
In the next ten years, the income of the cryptocurrency industry will increase 16 times, from $25 billion to $400 billion. Such estimates were given by Bernstein analysts
💬 “This year will lay the foundations for a ten-year golden age of innovation indapps. This will happen due to the transition of the industry from the thesis of a “profitable” infrastructure to the thesis of a “profitable” application,” the experts noted
📈 Decentralized protocols will account for half of the specified $400 billion. Currently, their share does not exceed 15%
The 100x revenue growth of dapps over the next ten years will be due to “innovation in blockchain scalability and the growth of applications in the financial services and consumer technology segments,” the experts explained. This niche will form 75% of revenue by 2033 against the current 40%
✅ Within financial applications, growth will be driven by DEX , lending and structured/tokenized products
In the next ten years, the income of the cryptocurrency industry will increase 16 times, from $25 billion to $400 billion. Such estimates were given by Bernstein analysts
💬 “This year will lay the foundations for a ten-year golden age of innovation indapps. This will happen due to the transition of the industry from the thesis of a “profitable” infrastructure to the thesis of a “profitable” application,” the experts noted
📈 Decentralized protocols will account for half of the specified $400 billion. Currently, their share does not exceed 15%
The 100x revenue growth of dapps over the next ten years will be due to “innovation in blockchain scalability and the growth of applications in the financial services and consumer technology segments,” the experts explained. This niche will form 75% of revenue by 2033 against the current 40%
✅ Within financial applications, growth will be driven by DEX , lending and structured/tokenized products
⚙️ DeFi protocol developer Aave 0xGraham said that the third version of the platform could be launched as early as this week.
V3 provides for the launch of cross-chain functions, tools for managing the community protocol, optimizing transaction costs, and a number of other functions. The new model is expected to reduce gas consumption by 20-25%.
V3 provides for the launch of cross-chain functions, tools for managing the community protocol, optimizing transaction costs, and a number of other functions. The new model is expected to reduce gas consumption by 20-25%.
🔥 Circle releases first annual report on the state of the USDC economy
🚀📚 Circle, the operator of the USD Coin (USDC) stablecoin , has released the first annual report on the development and prospects of the coin’s economy.
The founder and CEO of the firm, Jeremy Allaire, recalled that in 2013, when the development of the stablecoin began, it was conceived as “a dollar for the Internet.”
💬 “Now, ten years later, USD Coin (USDC) is breaking through into the mainstream. By almost all metrics and trends, the stablecoin economy is growing, healthy, and on track to become the primary means of economic activity on a global scale,” he said.
📑 According to the report, the asset is fully backed by reserves, which consist of 80% of 3-month US Treasury bonds - one of the most stable and liquid securities. By the end of January, the firm will transfer this provision of the stablecoin in full to a regulated fund managed by BlackRock .
🚀📚 Circle, the operator of the USD Coin (USDC) stablecoin , has released the first annual report on the development and prospects of the coin’s economy.
The founder and CEO of the firm, Jeremy Allaire, recalled that in 2013, when the development of the stablecoin began, it was conceived as “a dollar for the Internet.”
💬 “Now, ten years later, USD Coin (USDC) is breaking through into the mainstream. By almost all metrics and trends, the stablecoin economy is growing, healthy, and on track to become the primary means of economic activity on a global scale,” he said.
📑 According to the report, the asset is fully backed by reserves, which consist of 80% of 3-month US Treasury bonds - one of the most stable and liquid securities. By the end of January, the firm will transfer this provision of the stablecoin in full to a regulated fund managed by BlackRock .
📉 CRYPTOCURRENCY COLLAPSE CONTINUES AS MORE MAJOR CRYPTO FIRMS GO OUT OF BUSINESS
🇺🇸 US-based cryptocurrency lender Genesis Global Capital became the latest company to file for bankruptcy protection after the collapse of crypto exchange operator FTX, NHK World reported.
✅ The company, plus its subsidiaries filed for Chapter 11 bankruptcy protection with a US court on Thursday.
🇺🇸 US-based cryptocurrency lender Genesis Global Capital became the latest company to file for bankruptcy protection after the collapse of crypto exchange operator FTX, NHK World reported.
✅ The company, plus its subsidiaries filed for Chapter 11 bankruptcy protection with a US court on Thursday.
❗️Digital Currency Group has suspended the payment of dividends
Facing financial difficulties after the collapse of FTX holdingDCGannounced the suspension of quarterly dividend payments. Bloomberg writes about it .
💬 The group focused on "strengthening the balance sheet by cutting operating costs and maintaining liquidity," the letter to shareholders said.
The measure is necessary in the face of problems at the subsidiary crypto-lending platform Genesis Global Capital. The latter owes $3 billion, according to media reports. This amount includes claims of Gemini exchange clients for $900 million.
Cameron Winklevoss, the co-founder of the latter, in another open letter called on the head of DCG Barry Silbert to resign. The conflict, which went public, increased fears that Genesis would file for bankruptcy.
Facing financial difficulties after the collapse of FTX holdingDCGannounced the suspension of quarterly dividend payments. Bloomberg writes about it .
💬 The group focused on "strengthening the balance sheet by cutting operating costs and maintaining liquidity," the letter to shareholders said.
The measure is necessary in the face of problems at the subsidiary crypto-lending platform Genesis Global Capital. The latter owes $3 billion, according to media reports. This amount includes claims of Gemini exchange clients for $900 million.
Cameron Winklevoss, the co-founder of the latter, in another open letter called on the head of DCG Barry Silbert to resign. The conflict, which went public, increased fears that Genesis would file for bankruptcy.
‼️ Cryptoplatform Bitzlato announced a hack
🚫 Cryptocurrency exchange platform Bitzlato reported a hack and shut down the service.
In the initial publication, the team stated that the hackers withdrew some of the funds and asked users not to replenish deposits. The platform has suspended the withdrawal of assets.
A few hours later, the developers confirmed the hack and assured that the users' assets were safe.
💬 “The attackers were able to withdraw a small part of the funds, but we guarantee a refund for all victims,” Bitzlato emphasized.
For security reasons, the team has disabled the service. She did not disclose the amount of damage.
🚫 Cryptocurrency exchange platform Bitzlato reported a hack and shut down the service.
In the initial publication, the team stated that the hackers withdrew some of the funds and asked users not to replenish deposits. The platform has suspended the withdrawal of assets.
A few hours later, the developers confirmed the hack and assured that the users' assets were safe.
💬 “The attackers were able to withdraw a small part of the funds, but we guarantee a refund for all victims,” Bitzlato emphasized.
For security reasons, the team has disabled the service. She did not disclose the amount of damage.
🔥 BIT Mining has released a miner for mining Litecoin and Dogecoin
✅ Mining company BIT Mining announced the start of sales of BeeMiner LD3 devices for mining Litecoin (LTC) and Dogecoin (DOGE) cryptocurrencies.
⚙️ According to the press release, the performance of ASIC miners is 4800 MH/s with an energy efficiency of 0.73 W/MH.
💬 “This is one of the few state-of-the-art LTC/DOGE mining products available that provides high profitability with the shortest payback period,” the company said.
To improve reliability, LD3 utilizes 90% chip performance to avoid extreme environments. This approach is expected to ensure operational stability, extend maintenance intervals, and reduce maintenance costs.
BIT Mining assured that LD3 provides increased security guarantees for cryptocurrency miners by implementing protection mechanisms at the software and hardware levels.
✅ Mining company BIT Mining announced the start of sales of BeeMiner LD3 devices for mining Litecoin (LTC) and Dogecoin (DOGE) cryptocurrencies.
⚙️ According to the press release, the performance of ASIC miners is 4800 MH/s with an energy efficiency of 0.73 W/MH.
💬 “This is one of the few state-of-the-art LTC/DOGE mining products available that provides high profitability with the shortest payback period,” the company said.
To improve reliability, LD3 utilizes 90% chip performance to avoid extreme environments. This approach is expected to ensure operational stability, extend maintenance intervals, and reduce maintenance costs.
BIT Mining assured that LD3 provides increased security guarantees for cryptocurrency miners by implementing protection mechanisms at the software and hardware levels.
👥 One in three US congressmen received a donation from FTX founder Sam Bankman-Fried, CoinDesk found out. We are talking about 196 legislators (37%) of the 535 people represented in Congress.
💬 Journalists sent inquiries about the future fate of these funds. 19 of them have already returned or are about to return the donation, 34 transferred funds to charities, and the majority (143) did not respond to the request.
💬 Journalists sent inquiries about the future fate of these funds. 19 of them have already returned or are about to return the donation, 34 transferred funds to charities, and the majority (143) did not respond to the request.
📈 In 2022, the SEC increased the number of cases against the crypto industry by 50%
🗓 In 2022, the US Securities and Exchange Commission (SEC) opened 30 cases related to cryptocurrencies. This is 50% more than a year earlier, according to a report by Cornerstone Research.
The indicator amounted to almost a quarter of the total number of law enforcement actions of the regulator for the year - 127 cases.
📑 The experts noted that the most frequent allegations against representatives of the digital asset industry by the SEC were alleged fraud (70% of cases) and unregistered securities offering (73%). In half of the cases, the regulator had claims on both counts.
💵 At the end of the year, cumulative fines resulting from SEC enforcement were approximately $2.61 billion, of which $242 million were settled during the period.
Of the 30 cases of the regulator, 14 concernedICO, in eight of them the projects were accused of fraud.
🗓 In 2022, the US Securities and Exchange Commission (SEC) opened 30 cases related to cryptocurrencies. This is 50% more than a year earlier, according to a report by Cornerstone Research.
The indicator amounted to almost a quarter of the total number of law enforcement actions of the regulator for the year - 127 cases.
📑 The experts noted that the most frequent allegations against representatives of the digital asset industry by the SEC were alleged fraud (70% of cases) and unregistered securities offering (73%). In half of the cases, the regulator had claims on both counts.
💵 At the end of the year, cumulative fines resulting from SEC enforcement were approximately $2.61 billion, of which $242 million were settled during the period.
Of the 30 cases of the regulator, 14 concernedICO, in eight of them the projects were accused of fraud.
✅ Binance received permission to work in Poland🇵🇱
Cryptocurrency exchange Binance has received approval from the Polish authorities to operate in the country as a virtual asset service provider.
💬 “Binance Poland has adopted a risk and anti-money laundering policy that meets strict standards,” said local CEO Katarzyna Wabik.
Platform users from Poland must sign the new terms and conditions in order to be able to continue using the services.
👥 The company also announced plans to increase the division's workforce, host events and educational initiatives.
Cryptocurrency exchange Binance has received approval from the Polish authorities to operate in the country as a virtual asset service provider.
💬 “Binance Poland has adopted a risk and anti-money laundering policy that meets strict standards,” said local CEO Katarzyna Wabik.
Platform users from Poland must sign the new terms and conditions in order to be able to continue using the services.
👥 The company also announced plans to increase the division's workforce, host events and educational initiatives.
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The 1inch team will release a hardware crypto wallet 💳
Decentralized exchange liquidity aggregator 1inch Network will release a hardware cryptocurrency wallet.
The 1inch Hardware Wallet device is in the final stages of development. It is expected to go on sale this year.
The device for cold storage of cryptocurrencies is being created by an independent team funded by a grant program from the 1inch Foundation.
Among the main features of the device in the project noted:
🔸complete isolation from the network without the need for a wired connection. Data exchange is carried out via QR codes or, optionally, via NFC;
🔸the ability to use a transparent signature instead of a blind one, as in some other wallets;
🔸ongoing analysis of call and transaction data. If a signed transaction is compromised on the web or mobile app, the user will receive a notification;
🔸the option to create and manage sets of wallets with different initial seed phrases. Each set is protected by its own pin code.
Decentralized exchange liquidity aggregator 1inch Network will release a hardware cryptocurrency wallet.
The 1inch Hardware Wallet device is in the final stages of development. It is expected to go on sale this year.
The device for cold storage of cryptocurrencies is being created by an independent team funded by a grant program from the 1inch Foundation.
Among the main features of the device in the project noted:
🔸complete isolation from the network without the need for a wired connection. Data exchange is carried out via QR codes or, optionally, via NFC;
🔸the ability to use a transparent signature instead of a blind one, as in some other wallets;
🔸ongoing analysis of call and transaction data. If a signed transaction is compromised on the web or mobile app, the user will receive a notification;
🔸the option to create and manage sets of wallets with different initial seed phrases. Each set is protected by its own pin code.
🤝 Polygon and ZenGo non-custodial wallet partnership
This solution is known for the high degree of invulnerability of the seed phrase, which is achieved by advanced biometrics and MPC cryptography.
Instead of a private key, users receive mathematical "shares". Part of the share is located on the user's device, and the other part is on the ZenGo servers, which allows you to always be able to restore access, excluding a single point of failure.
This solution is known for the high degree of invulnerability of the seed phrase, which is achieved by advanced biometrics and MPC cryptography.
Instead of a private key, users receive mathematical "shares". Part of the share is located on the user's device, and the other part is on the ZenGo servers, which allows you to always be able to restore access, excluding a single point of failure.
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🇧🇷 In Brazil, 11 million businesses accept #Tether USDt via SWAPIX.