🔥 Binance introduced the Bicasso AI tool for generating NFT.
⚙️ Beta version is limited by a circulation of 10,000 tokens.
⚙️ Beta version is limited by a circulation of 10,000 tokens.
🌐 Chainlink Unveils Functions Web3 Platform
Chainlink Oracle Network launched the Functions platform, connecting decentralized applications (dapps) with traditional web platforms.
⚙️ Blockchain developers will be able to connect their dapps or smart contracts to “any” Web 2.0 platform, Chainlink blog says .
Programmers won't need to access cloud storage as the platform is integrated with providers like Amazon Web Services.
💻 The Functions beta is already running on the Sepolia (Ethereum) and Mumbai (Polygon) testnets.
Kemal El Mujahid, Chief Product Officer of Chainlink, said the launch of the new platform will remove major barriers to Web3 adoption .
💬 “We make it easy for developers to combine smart contracts with powerfulAPIand the Web 2.0 data sources they need to build amazing applications,” he said.
Chainlink Oracle Network launched the Functions platform, connecting decentralized applications (dapps) with traditional web platforms.
⚙️ Blockchain developers will be able to connect their dapps or smart contracts to “any” Web 2.0 platform, Chainlink blog says .
Programmers won't need to access cloud storage as the platform is integrated with providers like Amazon Web Services.
💻 The Functions beta is already running on the Sepolia (Ethereum) and Mumbai (Polygon) testnets.
Kemal El Mujahid, Chief Product Officer of Chainlink, said the launch of the new platform will remove major barriers to Web3 adoption .
💬 “We make it easy for developers to combine smart contracts with powerfulAPIand the Web 2.0 data sources they need to build amazing applications,” he said.
⚙️ The Ethereum team implemented the smart accounts feature
Ethereum developers activated the ERC-4337 standard through a smart contract called EntryPoint , which implements the concept of account abstraction.
ERC-4337 allows you to turn user wallets into smart contract accounts to make Ethereum addresses more convenient and eliminate the key human factor - loss of keys.
The account abstraction also makes it possible to store data in a standard smartphone security module, turning it into a hardware crypto wallet. In this case, any user can use:
🔸 two-factor authentication;
🔸 confirmation of the transaction by biometric data;
🔸 setting spending limits;
🔸 implementation of multi-signature;
🔸 programmable access recovery setting through a group of trusted persons, a third-party service or other options.
💬 “It gives you the same features as a bank, without the need for trust, as is the case with him,” Weiss said.
Ethereum developers activated the ERC-4337 standard through a smart contract called EntryPoint , which implements the concept of account abstraction.
ERC-4337 allows you to turn user wallets into smart contract accounts to make Ethereum addresses more convenient and eliminate the key human factor - loss of keys.
The account abstraction also makes it possible to store data in a standard smartphone security module, turning it into a hardware crypto wallet. In this case, any user can use:
🔸 two-factor authentication;
🔸 confirmation of the transaction by biometric data;
🔸 setting spending limits;
🔸 implementation of multi-signature;
🔸 programmable access recovery setting through a group of trusted persons, a third-party service or other options.
💬 “It gives you the same features as a bank, without the need for trust, as is the case with him,” Weiss said.
📑 More Tether FUD from WSJ
The Wall Street Journal’s report about stale allegations from long ago is wholly inaccurate and misleading. Bitfinex and Tether have world-class compliance programs and adhere to applicable Anti-Money Laundering, Know Your Customer, and Counter-Terrorist Financing legal requirements.
Bitfinex and Tether are proud partners of global law enforcement, and routinely and voluntarily assist the United States Department of Justice and other law enforcement organizations across the world in preventing money laundering, terrorism, and other crimes by bad actors.
These unfair attacks will not distract us from continuing with those efforts and offering the most liquid and reliable stablecoin experience, which the market has clearly recognized by making us the leaders in the industry.
The Wall Street Journal’s report about stale allegations from long ago is wholly inaccurate and misleading. Bitfinex and Tether have world-class compliance programs and adhere to applicable Anti-Money Laundering, Know Your Customer, and Counter-Terrorist Financing legal requirements.
Bitfinex and Tether are proud partners of global law enforcement, and routinely and voluntarily assist the United States Department of Justice and other law enforcement organizations across the world in preventing money laundering, terrorism, and other crimes by bad actors.
These unfair attacks will not distract us from continuing with those efforts and offering the most liquid and reliable stablecoin experience, which the market has clearly recognized by making us the leaders in the industry.
🏦 The live Tether price today is $0,999986 USD with a 24-hour trading volume of $49 652 310 225 USD. We update our USDT to USD price in real-time.
⚖️ Tether is down 0,00% in the last 24 hours. The current CoinMarketCap ranking is #3, with a live market cap of $71 759 790 640 USD. It has a circulating supply of 71 760 806 525 USDT coins and the max. supply is not available.
🔹USDT is a stablecoin (stable-value cryptocurrency) that mirrors the price of the U.S. dollar, issued by a Hong Kong-based company Tether. The token’s peg to the USD is achieved via maintaining a sum of commercial paper, fiduciary deposits, cash, reserve repo notes, and treasury bills in reserves that is equal in USD value to the number of USDT in circulation.
⚖️ Tether is down 0,00% in the last 24 hours. The current CoinMarketCap ranking is #3, with a live market cap of $71 759 790 640 USD. It has a circulating supply of 71 760 806 525 USDT coins and the max. supply is not available.
🔹USDT is a stablecoin (stable-value cryptocurrency) that mirrors the price of the U.S. dollar, issued by a Hong Kong-based company Tether. The token’s peg to the USD is achieved via maintaining a sum of commercial paper, fiduciary deposits, cash, reserve repo notes, and treasury bills in reserves that is equal in USD value to the number of USDT in circulation.
‼️ Stablecoin USDC loses its peg to the US dollar amid the collapse of the SVB
📉 Stablecoin USD Coin (USDC) has lost its peg to the U.S. dollar and is trading at $0.92 at the time of writing, after its issuer Circle announced it was holding $3.3 billion in reserves at the government-shutdown Silicon Valley Bank (SVB).
🏦 USDC capitalization fell by 13% in less than a day. At the time of writing, the stablecoin has dropped to $38.1 billion.
On Friday, March 10, the California Department of Financial Protection and Innovation closed SVB due to "lack of liquidity and insolvency" and transferred it to the control of the US Federal Deposit Insurance Corporation (FDIC).
The American bitcoin exchange Coinbase has temporarily suspended the conversion of USDC into US dollars due to bank closures over the weekend. The platform added that it plans to resume the process on Monday.
One user called it “karma” — Bloomberg reported in February that Circle had filed a complaint with NYDFS regarding the quality of Binance USD (BUSD) stablecoin reserve management.
The CEO of the exchange, Changpeng Zhao, said he did not trust this information.
💬 “I still believe they didn't do anything to hurt BUSD. Whoever hurts one player hurts himself," he wrote.
📉 Stablecoin USD Coin (USDC) has lost its peg to the U.S. dollar and is trading at $0.92 at the time of writing, after its issuer Circle announced it was holding $3.3 billion in reserves at the government-shutdown Silicon Valley Bank (SVB).
🏦 USDC capitalization fell by 13% in less than a day. At the time of writing, the stablecoin has dropped to $38.1 billion.
On Friday, March 10, the California Department of Financial Protection and Innovation closed SVB due to "lack of liquidity and insolvency" and transferred it to the control of the US Federal Deposit Insurance Corporation (FDIC).
The American bitcoin exchange Coinbase has temporarily suspended the conversion of USDC into US dollars due to bank closures over the weekend. The platform added that it plans to resume the process on Monday.
One user called it “karma” — Bloomberg reported in February that Circle had filed a complaint with NYDFS regarding the quality of Binance USD (BUSD) stablecoin reserve management.
The CEO of the exchange, Changpeng Zhao, said he did not trust this information.
💬 “I still believe they didn't do anything to hurt BUSD. Whoever hurts one player hurts himself," he wrote.
🔥 Elon Musk allowed the purchase of Silicon Valley Bank
🏦 Billionaire Elon Musk announced his readiness to consider the possibility of acquiring Silicon Valley Bank (SVB), which was closed by the authorities.
He published the corresponding tweet in response to the proposal of Razer co-founder and CEO Min-Liang Tan to acquire SVB by Twitter and turn it into a digital bank.
💬 “I am open to this idea,” Musk wrote.
🗓 In March, at the Morgan Stanley conference, the head of Twitter spoke about the desire to create a "very powerful financial experience" that will be even better than the payment giant PayPal.
💬 “You want to be able to easily send money via Twitter to another account with a single click. You want to be able to earn interest,” said the billionaire.
🏦 Billionaire Elon Musk announced his readiness to consider the possibility of acquiring Silicon Valley Bank (SVB), which was closed by the authorities.
He published the corresponding tweet in response to the proposal of Razer co-founder and CEO Min-Liang Tan to acquire SVB by Twitter and turn it into a digital bank.
💬 “I am open to this idea,” Musk wrote.
🗓 In March, at the Morgan Stanley conference, the head of Twitter spoke about the desire to create a "very powerful financial experience" that will be even better than the payment giant PayPal.
💬 “You want to be able to easily send money via Twitter to another account with a single click. You want to be able to earn interest,” said the billionaire.
💰 Circle will use corporate funds and “outside capital” to support USD Coin (USDC) if it fails to return part of the stablecoin reserves held in Silicon Valley Bank accounts in a timely manner and in full.
💬 “It is possible that SVB will not return 100% [of the funds] and that any transactions may take some time as the FDIC issues debt certificates and advance quotas to depositors. In such event, Circle, as required by law, will support the USDC and cover any shortfall with corporate resources, raising outside capital as needed,” the statement said.
Amid the news, the stablecoin has somewhat regained its peg and is trading near $0.96 at the time of writing.
💬 “It is possible that SVB will not return 100% [of the funds] and that any transactions may take some time as the FDIC issues debt certificates and advance quotas to depositors. In such event, Circle, as required by law, will support the USDC and cover any shortfall with corporate resources, raising outside capital as needed,” the statement said.
Amid the news, the stablecoin has somewhat regained its peg and is trading near $0.96 at the time of writing.
🏦 Justin Sun announced his readiness to support the creation of a bank for the crypto industry
The collapse of Silicon Valley Bank (SVB) speaks to the need for a "safe bank" for the digital asset industry. This was stated by the founder of Tron Justin Sun.
💬 “Recent incidents highlight the potential damage caused to many in the industry. The time has come to create a bank capable of meeting the needs of the crypto industry,” Sun wrote.
He noted that he is open to ideas and cooperation on this issue. In turn, the founder of Tron is ready to provide “funding, management and operational support.”
💬 “A robust banking infrastructure integrating traditional finance and cryptocurrencies is essential to enable wider adoption of digital assets,” he added.
The collapse of Silicon Valley Bank (SVB) speaks to the need for a "safe bank" for the digital asset industry. This was stated by the founder of Tron Justin Sun.
💬 “Recent incidents highlight the potential damage caused to many in the industry. The time has come to create a bank capable of meeting the needs of the crypto industry,” Sun wrote.
He noted that he is open to ideas and cooperation on this issue. In turn, the founder of Tron is ready to provide “funding, management and operational support.”
💬 “A robust banking infrastructure integrating traditional finance and cryptocurrencies is essential to enable wider adoption of digital assets,” he added.
The network's smoothed 7-day moving average hashrate is close to 315 EH/s.
🗓 In January, the difficulty of mining the first cryptocurrency increased by 4.68%, updating the historical maximum at around 39.35 T. In February, the figure increased by another 10%, to 43.05 T.
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The Ethereum team conducted the Shanghai-Capella (Shapella) hard fork on the Goerli testnet. According to the developers, it will be the last one before the update is activated on the main network.
Previously, Shapella was activated on the Sepolia testnet. The hard fork includes changes to Ethereum consensus levels and execution. Its main goal is to open access to the withdrawal of ETH from staking.
⚙️During the update in Goerli, the team had problems - due to the low involvement of network participants, the implementation of the hard fork took 15 epochs. According to developer Tim Beiko, this is due to the lack of incentives for users to become validators, since “ETH [on the testnet] is worthless.”
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Binance Expands True USD (TUSD) support - from March 22, zero commission will be only in the BTC/TUSD pair.
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Amid the USDC temporary depeg, Tether’s USDT market capitalization rose to $74.7 billion, nearly double that of its nearest competitor.
The same indicator for USDC fell to 30%. The stablecoin peaked at 38% in the summer of 2022 when USDT lost its peg to the dollar amid the collapse of the Terra ecosystem . However, the issuer did not experience any problems with the repayment of obligations and redeemed assets worth $600 million in a day.
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Ethereum co-founder Vitalii Buterin called for self-storage of digital assets and wrote a post on Reddit about choosing a multisig wallet.
💬 “Multisig wallets are an easy and secure way to own and can give you most of the key benefits of self-storage,” he wrote.
Among the advantages of such a decision, Buterin noted the absence of personal responsibility for the entire security system and the risks of losing funds in the event of the collapse of a centralized structure, “which seemed to be trustworthy.”
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The Fear and Greed Cryptocurrency Index reached 68, which is the highest value in the last almost a year and a half.
🗓 Comparable marks were observed back in mid-November 2021, against the backdrop of Bitcoin reaching an all-time high at $69,000. After that, the indicator basically signaled the deterioration of market sentiment and the prevalence of "fear" among market participants.
Over the past 30 days, digital gold has risen in price by more than 13%. At the time of writing, Bitcoin is trading at $27,800.
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