This weekly roundup of news from Mainland China, Taiwan, and Hong Kong attempts to curate the industry’s most important news, including influential projects, changes in the regulatory landscape, and enterprise blockchain integrations. Bad news for Evergrande Even after all the regulatory crackdowns, China isn’t letting 2021 slip away without a few more blows to the …
Yearly archives: 2021
AWS outage hits dYdX raising concerns over decentralization
An Amazon Web Service (AWS) outage on Dec. 7 forced the decentralized exchange dYdX to halt operations, raising questions over the reliance on centralized services by DeFi protocols. AWS is one of the most widely used cloud services in the world and a considerable amount of decentralized infrastructure uses it. AWS offers servers, storage, networking, …
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Solana reportedly hit by DDoS attack but network remains online
Solana’s blockchain performance was reportedly hit by a distributed denial of service (DDoS) attack over the past 24 hours, however the network appears to have remained online throughout. A DDoS attack generally refers to a large number of coordinated devices, or a botnet overwhelming a network with fake traffic to take it offline. This wouldn’t …
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Congressman jokes about a Mongoose Coin: Now it exists
Democratic representative for California Brad Sherman joked about how ridiculous a “Mongoose Coin” would be on Wednesday — and by Friday it had become a reality. During Wednesday’s hearing on crypto at the House Financial Services Committee, Sherman spun a tale of an old woman who swallows bigger and bigger animals to eat the animals …
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Is Polygon Close to a Breakout? Crypto Analyst Benjamin Cowen Looks at State of Red Hot Ethereum Layer-2 Solution
Crypto analyst Benjamin Cowen is taking a look at the future prospects for Ethereum (ETH) scaling solution Polygon, whose native token MATIC has been on an upward trend in recent months. In a new strategy session, Cowen compares the layer-2 protocol to the top two crypto assets, Bitcoin (BTC) and Ethereum, gauging how the altcoin …
This Ethereum Chart Is One of the Best in Crypto Right Now, According to Top Analyst – Here’s Why
A popular crypto analyst says one Ethereum (ETH) chart is looking particularly strong right now. In the latest TechnicalRoundUp newsletter, the pseudonymous analyst known as Cred says the Ethereum chart against Bitcoin (ETH/BTC) is “one of the best-looking macro charts in crypto at the moment.” Source: TechnicalRoundUp Ethereum is worth 0.088 BTC, or $4,388.33, at …
Gaming Altcoin on Ethereum Surges Despite Crypto Pullback As Whales Dive In
A metaverse token built on Ethereum is defying the crypto market’s recent pullback due to whale activity. According to crypto whale surveillance website WhaleStats, Gala Games (GALA) is now the third-most bought cryptocurrency by whales, behind only Ethereum (ETH) and Tether (USDT) during the last 24 hours. Source: WhaleStats GALA, a blockchain-based gaming protocol that …
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Data shows pro traders are currently more bullish on Ethereum than Bitcoin
Most traders have noticed that Ether (ETH) price has seriously outperformed Bitcoin (BTC) for months now and the ETH/BTC ratio has rallied more than 230% in 2021 and recently hit a new high at 0.089 BTC on Dec. 9. ETH/BTC pair at Coinbase. Source: TradingView To put things in perspective, Ether’s $490 billion market capitalization …
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WisdomTree amends Bitcoin ETF application, naming US Bank as custodian
New York-based asset manager WisdomTree has amended its filing for a Bitcoin exchange-traded fund with the Securities and Exchange Commission to name U.S. Bank as its custodian. In a Wednesday filing, WisdomTree listed U.S. Bank National Association as the custodian for shares of its Bitcoin (BTC) trust. The filing is an amendment to its March …
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Volatility, hyperinflation and uncertainty: How everyday Venezuelans are using stablecoins to protect their livelihoods
Last month, Cointelegraph interviewed Reserve CEO Nevin Freeman and the payment decentralized application’s community manager Yens Michiels about the company’s mission to provide access to stable currencies. More recently, Cointelegraph spoke to a couple of users based out of Venezuela and Colombia who shared their positive experiences with Reserve. Reserve is a tool to exchange …
This mobile gaming platform is launching a charity eSports tournament
MegaFans, a California-based mobile gaming company, successfully launched a charity event designed to support CodetoInsipire.org, the first coding school for women in Afghanistan. The event consisted of a play-to-earn tournament that used donated NFTs and crypto prizes to entice gamers to participate in a fundraising event. Mobile gaming platform used for charitable causes According to …
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Cardano ERC-20 converter is now available on testnet
Following delays to the ERC-20 converter, Cardano developers Input Output (IO) announced this week that the testnet version is now live. The first ERC-20 token to get the converter treatment is SingularityNet’s $AGI, which IO was keen to stress can now take advantage of lower fees, higher transaction capacity, and enhanced security. Interoperability between different …
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“Decentralized” exchange dYdX suffers outage
While crypto enthusiasts would want the world to believe that projects in the space, especially those in decentralized finance (DeFi) have little to no use for centralized intermediaries, the recent outage of one of Amazon’s server in US-East-1 region has again brought the question “how decentralized are decentralized finance projects?” to the fore again. dYdX …
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Community criticism forces OpenSea to shelve plan of going public
Earlier this week, the newly appointed CFO of the leading NFT marketplace, OpenSea, Brian Roberts, hinted that the crypto startup could be looking to raise new funds through an initial public offering (IPO). However, this revelation received a lot of backlash from the crypto community who felt betrayed by the thoughts of the NFT marketplace …
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CFTC Commissioner Opposes Regulation by Enforcement, Says Crypto Needs Clearer Rules
A commissioner with the Commodity Futures Trading Commission (CFTC), Dawn Stump, has voiced concerns about cryptocurrency regulation through enforcement — the approach taken by both the CFTC and the U.S. Securities and Exchange Commission (SEC). CFTC Commissioner Stump on Crypto Regulation CFTC Commissioner Dawn Stump has raised concerns regarding the approach her agency and the …