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🔥 Binance will create a metaverse and implement solutions based on zk-SNARK
Cryptocurrency exchange Binance spoke about plans for 2023, including the development of solutions to ensure transparency in the operation of the platform and the creation of a metaverse.
⚙️ Mayur Kamata, Head of Product at Binance, said the developers will continue to improve the concept launched at the end of 2022. Now they are preparing the release of several products based onzk-SNARKto implement the Proof-of-Solvency mechanism.
💵 Binance also plans to reach 1 billion verified users through optimization KYC-procedures.
At the same time, the platform is exploring the possibility of creating its own metaverse. Binance CEO Changpeng Zhao did not reveal the details of this project, but said that it will “definitely work on Binance Coin.”
💬 “But since we don’t make games yet and we don’t have a game design team, the exchange is more open to investing in other VR projects or metaverse games,” Zhao said.
Cryptocurrency exchange Binance spoke about plans for 2023, including the development of solutions to ensure transparency in the operation of the platform and the creation of a metaverse.
⚙️ Mayur Kamata, Head of Product at Binance, said the developers will continue to improve the concept launched at the end of 2022. Now they are preparing the release of several products based onzk-SNARKto implement the Proof-of-Solvency mechanism.
💵 Binance also plans to reach 1 billion verified users through optimization KYC-procedures.
At the same time, the platform is exploring the possibility of creating its own metaverse. Binance CEO Changpeng Zhao did not reveal the details of this project, but said that it will “definitely work on Binance Coin.”
💬 “But since we don’t make games yet and we don’t have a game design team, the exchange is more open to investing in other VR projects or metaverse games,” Zhao said.
🏦 Institutions have invested a record amount of funds since July in crypto funds
From January 21 to January 27, $117 million went into cryptocurrency investment products, the highest since July 2022.
📈 Trading volume was $1.3 billion, 17% above the year-to-date average.
The greatest activity was concentrated in bitcoin funds - investors invested $116 million in this type of product. Structures that allow you to open shorts on the first cryptocurrency recorded an inflow of $4.4 million.
The outflow from products based on various altcoins amounted to $6.4 million. The negative dynamics continued for the ninth week in a row.
In altcoins, a positive trend was recorded. Ethereum-based products raised $4.2M, Polkadot raised $1M, XRP and Cardano raised $0.6M each, and Avalanche raised $0.5M.
In general, inflows were predominantly observed in altcoins. Ethereum-based products raised $2.3M, Solana $1.1M, Polygon $0.2M. BNB and XRP-based products saw outflows of $0.4M and $0.2M, respectively.
From January 21 to January 27, $117 million went into cryptocurrency investment products, the highest since July 2022.
📈 Trading volume was $1.3 billion, 17% above the year-to-date average.
The greatest activity was concentrated in bitcoin funds - investors invested $116 million in this type of product. Structures that allow you to open shorts on the first cryptocurrency recorded an inflow of $4.4 million.
The outflow from products based on various altcoins amounted to $6.4 million. The negative dynamics continued for the ninth week in a row.
In altcoins, a positive trend was recorded. Ethereum-based products raised $4.2M, Polkadot raised $1M, XRP and Cardano raised $0.6M each, and Avalanche raised $0.5M.
In general, inflows were predominantly observed in altcoins. Ethereum-based products raised $2.3M, Solana $1.1M, Polygon $0.2M. BNB and XRP-based products saw outflows of $0.4M and $0.2M, respectively.
🗓 In 2022, there were 359 different incidents in the crypto industry, including hacks and bankruptcies, which caused a combined damage of more than $63.9 billion, HAPI Labs researchers reported.
📉 According to their calculations, 188 cases are directly related to hacker attacks, 133 of which occurred in the DeFi segment. The remaining 171 incidents include bankruptcies, exit scams and other fraudulent activities by companies. At the same time, 154 cases (90%) fell on the classic rug pull schemes.
The six major bankruptcies of 2022 accounted for $57.6 billion in losses, or 90.2% of the total. 5 out of 6 incidents are related to custodial platforms.
📉 According to their calculations, 188 cases are directly related to hacker attacks, 133 of which occurred in the DeFi segment. The remaining 171 incidents include bankruptcies, exit scams and other fraudulent activities by companies. At the same time, 154 cases (90%) fell on the classic rug pull schemes.
The six major bankruptcies of 2022 accounted for $57.6 billion in losses, or 90.2% of the total. 5 out of 6 incidents are related to custodial platforms.
🐋 Despite the crypto winter, about 82% of millionaires have been interested in including digital assets in their portfolios over the past 12 months, financial services provider deVere Group said.
✅ Clients interviewed pointed to a surge in interest in cryptocurrencies from major Wall Street players and asked personal advisors for advice on investing in cryptocurrencies.
💬 “Wealthy investors are realizing that digital currencies are the future of money,” said Nigel Green, founder of the deVere Group.
✅ Clients interviewed pointed to a surge in interest in cryptocurrencies from major Wall Street players and asked personal advisors for advice on investing in cryptocurrencies.
💬 “Wealthy investors are realizing that digital currencies are the future of money,” said Nigel Green, founder of the deVere Group.
⚡️ The Waves team changed the ticker of the "depreciated" stablecoin USDN to XTN
The ticker of the algorithmic stablecoin USDN, which lost parity against the US dollar back in August 2022, has been changed to the Neutrino Index (XTN). Sasha Ivanov, CEO and founder of the Waves Platform, announced this.
💬 “USDN is being phased out as a stablecoin, the name of the asset has been changed. Let's move on," he wrote.
⚙️ According to the protocol's Twitter account Neutrino, the decision to rename was approved by the community. The process will be carried out using a transaction of type Update Asset Info.
The developers assured that the update “will not affect exchanges, aggregators of token statistics and theirAPIthat will continue to use the existing USDN ticker."
💬 “This means your wallets will still display USDN. However, it will gradually be renamed to XTN everywhere,” they noted.
The ticker of the algorithmic stablecoin USDN, which lost parity against the US dollar back in August 2022, has been changed to the Neutrino Index (XTN). Sasha Ivanov, CEO and founder of the Waves Platform, announced this.
💬 “USDN is being phased out as a stablecoin, the name of the asset has been changed. Let's move on," he wrote.
⚙️ According to the protocol's Twitter account Neutrino, the decision to rename was approved by the community. The process will be carried out using a transaction of type Update Asset Info.
The developers assured that the update “will not affect exchanges, aggregators of token statistics and theirAPIthat will continue to use the existing USDN ticker."
💬 “This means your wallets will still display USDN. However, it will gradually be renamed to XTN everywhere,” they noted.
⚙️ Ethereum launched a testnet to check the withdrawal of ETH from Beacon Chain
On February 1 at 15:00 UTC, the Zhejiang testnet was launched to simulate the withdrawal of ETH from the Beacon Chain staking contract. The functionality is provided in EIP-4895, planned for the next Shanghai hard fork of the Ethereum network.
On February 7, a hard fork will take place in Zhejiang , which will activate EIP-4895. At the moment, users will only be able to deposit b.
Previously, developers launched devnet to test the function of withdrawing cryptocurrency from a deposit contract by validators.
On February 1 at 15:00 UTC, the Zhejiang testnet was launched to simulate the withdrawal of ETH from the Beacon Chain staking contract. The functionality is provided in EIP-4895, planned for the next Shanghai hard fork of the Ethereum network.
On February 7, a hard fork will take place in Zhejiang , which will activate EIP-4895. At the moment, users will only be able to deposit b.
Previously, developers launched devnet to test the function of withdrawing cryptocurrency from a deposit contract by validators.
🔥 BonqDAO and AllianceBlock hit by $89M hack
An unknown person withdrew approximately 114 million AllianceBlock (ALBT) tokens and 98 million BEUR from the pool on the BonqDAO protocol.
Due to the low liquidity of the assets, the hacker was only able to partially convert them into Ethereum and DAI in the amount of approximately $1.7 million. In total, the hacker’s wallet stores coins worth about $89.8 million.
AllianceBlock said that the incident did not affect other BonqDAO pools, or "treasuries", as they are called in the project. Hacked by manipulating the price oracle, the smart contract allows issuing BEUR against collateral in ALBT.
Both teams are working with partners to remove liquidity from the market and stop exchange trading of coins.
The developers of AllianceBlock also stopped the work of the cross-chain bridge until the situation is resolved. The protocol team stated that it took a snapshot to issue tokens in order to compensate for the damage to users.
An unknown person withdrew approximately 114 million AllianceBlock (ALBT) tokens and 98 million BEUR from the pool on the BonqDAO protocol.
Due to the low liquidity of the assets, the hacker was only able to partially convert them into Ethereum and DAI in the amount of approximately $1.7 million. In total, the hacker’s wallet stores coins worth about $89.8 million.
AllianceBlock said that the incident did not affect other BonqDAO pools, or "treasuries", as they are called in the project. Hacked by manipulating the price oracle, the smart contract allows issuing BEUR against collateral in ALBT.
Both teams are working with partners to remove liquidity from the market and stop exchange trading of coins.
The developers of AllianceBlock also stopped the work of the cross-chain bridge until the situation is resolved. The protocol team stated that it took a snapshot to issue tokens in order to compensate for the damage to users.
⚙️ MetaMask has added privacy settings to the browser extension - now users can set additional options for RPC providers and send requests to third-party services (to detect phishing and identify incoming transactions).
🎨 Leading NFT marketplace OpenSea has unveiled a new security feature. It implies the introduction of a 3-hour waiting period for tokens received on the account. Users will not be able to stake and therefore redeem NFTs, which will reduce the risk of them being stolen.
To interact with its own accounts and hardware devices, OpenSea has integrated the DelegateCash service, which will allow transactions between trusted addresses.
✅ The marketplace also announced a new phase of the Drops program.
To interact with its own accounts and hardware devices, OpenSea has integrated the DelegateCash service, which will allow transactions between trusted addresses.
✅ The marketplace also announced a new phase of the Drops program.
📝 Binance Agrees on the Implementation of Educational Initiatives with the Georgian Authorities
Cryptocurrency exchange Binance has signed a memorandum of understanding with the Georgian Innovation and Technology Agency (GITA) to implement blockchain initiatives.
Cooperation under the agreement will include various educational and charitable initiatives from Binance Academy and Binance Charity, as well as local events and hackathons from BNB Chain.
💬 “Through this collaboration, Binance will facilitate the generation of new startup ideas and the implementation of projects focused on commercialization,” said GITA Chairman Avtandil Kasradze.
This is not the exchange's first educational initiative in the country. Last month, Binance signed a memorandum of cooperation with the University of Business and Technology of Georgia. Together with Binance Academy, the platform will provide teaching materials to teach students the basics of blockchain, Web3, NFT, and cryptocurrencies.
Cryptocurrency exchange Binance has signed a memorandum of understanding with the Georgian Innovation and Technology Agency (GITA) to implement blockchain initiatives.
Cooperation under the agreement will include various educational and charitable initiatives from Binance Academy and Binance Charity, as well as local events and hackathons from BNB Chain.
💬 “Through this collaboration, Binance will facilitate the generation of new startup ideas and the implementation of projects focused on commercialization,” said GITA Chairman Avtandil Kasradze.
This is not the exchange's first educational initiative in the country. Last month, Binance signed a memorandum of cooperation with the University of Business and Technology of Georgia. Together with Binance Academy, the platform will provide teaching materials to teach students the basics of blockchain, Web3, NFT, and cryptocurrencies.
The Wall Street Journal revealed the owners of Tether
Four people owned 86% of Tether Holdings, The Wall Street Journal (WSJ) reported. Documents confirming the information are dated 2018.
The publication noted that the USDT stablecoin operator with a market value of $68 billion still does not disclose information to the same extent as the corresponding traditional institutions.
The company was founded by former plastic surgeon Giancarlo Devasini and Brock Pierce, an entrepreneur and crypto evangelist. The company was registered in the British Virgin Islands in September 2014.
“The United States would be better off if patriotic Americans like me still owned the business. The share capital I turned down was probably $6-10 billion. Was it the right choice? I don't know," the WSJ quoted the entrepreneur as saying.
He also helped develop and launch the Bitfinex crypto exchange. Both companies have a lot of overlap in management. However, according to the WSJ, Devasini makes the key decisions.
Four people owned 86% of Tether Holdings, The Wall Street Journal (WSJ) reported. Documents confirming the information are dated 2018.
The publication noted that the USDT stablecoin operator with a market value of $68 billion still does not disclose information to the same extent as the corresponding traditional institutions.
The company was founded by former plastic surgeon Giancarlo Devasini and Brock Pierce, an entrepreneur and crypto evangelist. The company was registered in the British Virgin Islands in September 2014.
“The United States would be better off if patriotic Americans like me still owned the business. The share capital I turned down was probably $6-10 billion. Was it the right choice? I don't know," the WSJ quoted the entrepreneur as saying.
He also helped develop and launch the Bitfinex crypto exchange. Both companies have a lot of overlap in management. However, according to the WSJ, Devasini makes the key decisions.
Bitfinex, Keet, Synonym and Tether Pledge 5 Million TRY for Turkiye Earthquake Recovery
Bitfinex, Keet, Synonym and Tether would like to express our sincerest condolences and sympathy to the people of Turkiye, following the devastating earthquake to hit the country today. It is clear that the scale of the disaster has been both widespread and catastrophic. Our hearts go out to the people of Turkiye, and our thoughts and prayers are with all those affected.
It is absolutely essential at a time like this that we come together to support the citizens of the region in the wake of this tragedy.
On behalf of Bitfinex, Keet, Synonym and Tether, we are pledging 5M TRY towards immediate humanitarian relief and recovery efforts and will seek ways to provide continued support towards helping Turkiye rebuild for the future.
Resources of every kind are needed at a time like this and we can only hope that our support will help towards these efforts. We stand in solidarity with Turkiye.
Bitfinex, Keet, Synonym and Tether would like to express our sincerest condolences and sympathy to the people of Turkiye, following the devastating earthquake to hit the country today. It is clear that the scale of the disaster has been both widespread and catastrophic. Our hearts go out to the people of Turkiye, and our thoughts and prayers are with all those affected.
It is absolutely essential at a time like this that we come together to support the citizens of the region in the wake of this tragedy.
On behalf of Bitfinex, Keet, Synonym and Tether, we are pledging 5M TRY towards immediate humanitarian relief and recovery efforts and will seek ways to provide continued support towards helping Turkiye rebuild for the future.
Resources of every kind are needed at a time like this and we can only hope that our support will help towards these efforts. We stand in solidarity with Turkiye.
💬 Changpeng Zhao: I am a very boring guy who spends time on books, not people
The CEO of Binance revealed his recipe for time management, advising not to trade time for anything other than knowledge. A key skill for CZ is being able to say no. His credo is that what you don't do is more important than what you do.
He prefers to start any meetings with a warning about the limit of 15 minutes. Zhao doesn't like shopping. He prefers shopping online in batches of ten wardrobe items in the first five positions, which the algorithm offers him.
At home, in the office and in the suitcase, CZ is a mess. He does not waste time organizing space. The CEO of Binance does not cook food (no talent), he chooses one of the three positions he sees on the menu - what will be on the table faster. French dinner is not for him.
CZ listens to books at 2.5x under almost any circumstance when not at work. Especially appreciates flights, when he can absorb 2-3 books per flight. Zhao spent over 600 hours on board last year.
The CEO of Binance revealed his recipe for time management, advising not to trade time for anything other than knowledge. A key skill for CZ is being able to say no. His credo is that what you don't do is more important than what you do.
He prefers to start any meetings with a warning about the limit of 15 minutes. Zhao doesn't like shopping. He prefers shopping online in batches of ten wardrobe items in the first five positions, which the algorithm offers him.
At home, in the office and in the suitcase, CZ is a mess. He does not waste time organizing space. The CEO of Binance does not cook food (no talent), he chooses one of the three positions he sees on the menu - what will be on the table faster. French dinner is not for him.
CZ listens to books at 2.5x under almost any circumstance when not at work. Especially appreciates flights, when he can absorb 2-3 books per flight. Zhao spent over 600 hours on board last year.