Please share if you find this article interesting. Binance CEO Says He Fully Expects DeFi to Cannibalize His Crypto Exchange Binance CEO Changpeng “CZ” Zhao acknowledges the contradictions inherent in trying to tap into the fast-growing business of decentralized finance, or DeFi, while trying to defend his company’s reign as the world’s largest cryptocurrency exchange. The company’s new foray into DeFi, Binance Smart Chain, attempts to replicate some of the features of the Ethereum blockchain that have proven fertile for developers building decentralized, blockchain-based trading and lending applications that theoretically could one day challenge traditional lenders and Wall Street trading firms. But DeFi could also threaten big cryptocurrency exchanges like his own. Like
Please share if you find this article interesting. Venezuela sees its first Blockstream Bitcoin satellite node A Bitcoin services startup based in South America has just launched the first Bitcoin node connected to the Blockstream satellite network within Venezuela. According to a Sept. 25 blog post from startup Cryptobuyer, the launch of the node will keep the Bitcoin (BTC) blockchain updated for Venezuela users without being dependent on a local internet connection. Crypto training course provider AnibalCripto deployed the node while CryptoBuyer provided financial and logistical support. “Having a 24/7 always-available digital money system independent of local internet infrastructure is now a reality,” said AnibalCripto CEO Anibal Garrido. “With this development, we are no lon
Please share if you find this article interesting. Blockchain-based fantasy soccer game Sorare signs on Paris Saint-Germain French soccer club Paris Saint-Germain hasn’t dropped the blockchain baton just yet, with the club now set to issue player collectibles as rare tokens. PSG — which plays in the highest tier of French soccer — had already partnered with blockchain platform Socios.com to launch its own “Fan Token Offering” in 2018. This week, the club has become the 100th soccer club to join the Ethereum blockchain-based fantasy soccer game Sorare platform. PSG players Neymar and Kylian Mbappé, as well as club veterans like David Beckham, will be tokenized as limited edition digital player cards. The score of player cards will depend on their real-life performances in soccer
Please share if you find this article interesting. Bitcoin Miner Maker Ebang Narrows First Half Loss To $7 Million, as Covid-19 Hit Demand | Mining Bitcoin News Ebang International Holdings Inc., the Chinese maker of bitcoin mining hardware, reported a net loss of $6.96 million during the first six months of this year, down from $19.07 million a year ago, as demand fell due to the coronavirus pandemic. Revenue plunged 51% to $11.04 million from $22.35 million previously, said the company in an earnings release shared with news.Bitcoin.com. For the half-year, the Nasdaq-listed Ebang sold a total 0.25 million terahash per second (TH/s) of Bitcoin hashpower. The figure represents a year-over-year decline of 86% from 1.82 million TH/s sold in the same period in 2019. Shares of Eban...
Please share if you find this article interesting. Bored with Bitcoin price, traders chase gains in altcoins and DeFi tokens For the few weeks Bitcoin (BTC) price has moved within a $850 range and recently the price resumed the trend of daily higher lows. Despite this, $11,000 remains a hurdle the price has struggled to overcome but one positive is that altcoins are beginning to recover some of the hefty losses of the past few weeks. Cryptocurrency daily market performance snapshot. Source: Coin360 Perhaps now that CME Bitcoin options closed without any major disruption and a new month on the verge of beginning, Bitcoin price can make a move higher and finally clear the $11K resistance. The weekly time frame shows strong support from $10,000-$10,500 and as Cointelegraph contr
Please share if you find this article interesting. Kenya’s golf stablecoin highlights need for Africa-wide regulations YENTS, an unusual stablecoin developed by the Kenya’s Young Entrepreneurs Network (YEN), has entered into testing under the local regulatory sandbox. YEN, which organizes golfing tournaments to facilitate networking opportunities for Kenyan entrepreneurs, plans on initially using the stablecoin as a means of payment for sporting events and training programs. The network’s CEO, Kamau Nyabwengi, told The Africa Report that YEN intends to launch the token in November, and hopes to use it to accept investments into a planned golf course. While the YENTS token has began testing in Kenya’s regulatory sandbox, Nyabwengi argues that significant regulatory changes still n
Please share if you find this article interesting. Hacker steals $15m after degens pile into unreleased Yearn Finance project The decentralized finance (DeFi) community's insatiable appetite for unaudited code has once again ended in tears and the loss of millions. Eminence, an unfinished “economy for a gaming multiverse” being built by Yearn Finance's Andre ‘I test in production’ Cronje, was discovered by DeFi sleuths after the developer posted art teasers for the project to Twitter. He then headed to bed on September 28. Excitement for the upcoming project quickly reached a fever pitch, with the community FOMOing roughly $15 million into the EMN protocol. However, the protocol was quickly exploited and drained … before the hacker bizarrely opted to transfer $8 million of the fu
Please share if you find this article interesting. $30M MakerDAO 'Black Thursday' lawsuit sent to arbitration A court has agreed with the Maker Ecosystem Growth Foundation that a class-action lawsuit over its ‘Black Thursday’ meltdown should enter into arbitration proceedings. The Maker Foundation filed this motion to compel arbitration in response a lawsuit filed by MakerDAO user Peter Johnson in April after he suffered six-figure losses as a result of the protocol becoming undercollateralized in March. In a September 25 order, Judge Maxine Chesney found that the American Arbitration Association must determine whether Johnson’s claims fall within the scope of an arbitration clause included in DAI’s terms of service that the investor agreed to in 2018. Arbitration clause in DAI's
Please share if you find this article interesting. Bitcoin's Big Believers: 6-Digits 'Inevitable,' BTC Has a Better Chance of Going to $100K Than Zero | Bitcoin News For a number of years now bitcoiners have predicted that the price of bitcoin will surpass its all-time high from 2017 and many believe it will rise to the $100k or six-digit price range. This week bitcoin enthusiasts discussed the possibility of the crypto asset reaching $100k at great length. In mid-December 2017, the price of bitcoin (BTC) touched an all-time high (ATH) of $19,600 per coin. Today, BTC is 45.81% lower than the 2017 ATH but a number of bitcoiners believe that the crypto asset will surpass that price range. For instance, at the 2020 Virtual Blockchain Week event, the well known venture capitalist T...
Please share if you find this article interesting. Bulgarian exchange owner convicted over auction fraud scheme Rossen Iossifov, a 53-year-old Bulgarian national and owner of the ‘RG Coins’ cryptocurrency exchange, has been convicted of operating a multi-million dollar money laundering ring as part of a transnational auction fraud scheme. Following a two-week trial Iossifov was found guilty by a federal jury in Frankfort, Kentucky, of conspiracy to commit money laundering and conspiracy to commit racketeering. The Kentucky resident will face sentencing on Jan. 12, 2021. The jury found that at least 900 U.S. citizens were conned in a scheme that saw Iossifov’s Romania-based accomplices post advertisements on popular auction platforms like eBay and Craigslist for high-value goods s