Compound Finance is just one of the latest victims of DeFi hacking incidents in 2021. On Sept. 30, its errant token distribution bug within the Proposal 062 exposed a flaw in which $70 million–$85 million in excess COMP tokens were wrongly distributed to users. Yet, an extra $65 million was placed in a vulnerable vault …
Continue reading “Cointelegraph Consulting: Recounting 2021’s biggest DeFi hacking incidents”
On Nov. 1, the United States President’s Working Group on Financial Markets (PWG) released its long-anticipated report and policy recommendations on stablecoins. The document’s main focus is on prudential risks that “payment stablecoins” — or those meant to maintain a stable value against a reference fiat currency — could pose to users and financial stability. …
Continue reading “Stablecoins report: SEC won’t lead regulation, Congress urged to act”
Private blockchains provide users with the absolute privacy they desire. Private blockchains (which are permissioned settings) establish rules governing who can see and write to the chain, in contrast to public, permissionless blockchains. There is a clear hierarchy of control in these systems; hence, they are not decentralized. However, they are dispersed because many nodes …
Continue reading “Private, public and consortium blockchains: The differences explained”
Solana’s (SOL) autumn rally continued on Nov. 3 with its price and market cap hitting a new record high. SOL surged by 7% in the past 24 hours to $236, pushing its market capitalization to over $70 billion for the first time in history. As the token wobbled near its record high levels, it flipped …
Continue reading “Solana battles Cardano for the top-five spot as SOL market cap crosses $70B-mark”
The US Treasury Department says that stablecoins, cryptographically secured digital assets pegged to the price of traditional assets like the US dollar, could have a positive impact on the payments industry. In a new press release and report on one emerging sector of the digital economy, the Treasury says “stablecoins that are well-designed and subject …
A large-cap altcoin built on the Ethereum network is rallying after earning support from the leading US crypto exchange, Coinbase. The price of Crypto.com Coin (CRO) is up 17.1% at time of writing, fueled by an announcement that the asset will be listed on Coinbase Pro. The coin is designed to power Crypto.com’s mobile …
A widely followed crypto strategist and trader says massive breakouts are in sight for Bitcoin (BTC), Ethereum (ETH) and Binance Coin (BNB). The pseudonymous analyst Smart Contracter tells his 177,800 Twitter followers that Bitcoin is one diagonal resistance away from printing a fresh all-time high. “It’s only a matter of time before BTC goes …
HodlX Guest Post Submit Your Post News coverage of Matt Damon’s role as the spokesman of Crypto.com has been rampant. He’s the latest in a line of celebrities who have cashed in during their promotion of cryptocurrencies. First, there were the nefarious early days of John McAfee boosting coins through his Twitter account. Then there were the …
Huobi Group, a major global blockchain company behind the world’s third-largest cryptocurrency exchange by trading volume, is celebrating its eighth birthday in a somewhat unusual way. The company will hold a series of events as part of its eighth-anniversary celebrations, including giveaway promotions and a space travel ticket, Huobi told to Cointelegraph on Wednesday. Huobi will …
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China’s trials with central bank digital currency (CBDC) show no signs of slowing down, as the updated numbers for October 2021 were revealed at Hong Kong Fintech Week. Set out to replace cash in day-to-day transactions, the digital yuan (e-CNY) is gaining traction among individuals and corporates alike, according to the People’s Bank of China’s …
Continue reading “Over 140 million people have digital yuan accounts, says PBoC head”
On Tuesday, crypto trading and payments firm Crypto.com revealed the release of the first authorized UFC nonfungible token (NFT). According to the news release, the UFC’s new NFT series will include digital collectibles such as fight night paintings, event posters, championship belts, fighter personas and avatars. On Thursday, the collection of NFTs known as “UFC 268 …
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NYSE Arca, a subsidiary of the New York Stock Exchange (NYSE) Group, wants to list and operate a trust based on Bitcoin (BTC) exchange-traded products (ETP). In a rule-change proposal with the United States Securities and Exchange Commission, NYSE Arca proposed to list shares of the Bitwise Bitcoin ETP Trust. The proposal clarifies that each …
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A Connecticut Jury has found that digital assets linked to cryptocurrencies are not securities in what a defense lawyer called a world-first verdict. GAW Miners investor Stuart Fraser was cleared of liability in a fraudulent operation co-opted by ZenMiner LLC on Nov. 1. “It’s the first case that we know of where a jury addressed …
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Secondary sales volume for Solana (SOL) based nonfungible tokens (NFTs) has reached almost $500 million since the start of August. According to data from CryptoSlam, secondary sales of Solana NFTs have generated a total of roughly $497.7 million from around 348,000 transactions as of Nov. 2, with the average sale per NFT tallying in at …
Continue reading “Solana secondary NFT sales reach half a billion in three months”
U.S. tech giant Microsoft is taking the plunge into the Metaverse via updates to its Teams and Xbox gaming console services, along with a new product called “Dynamics 365 Connected Spaces.” Microsoft CEO Satya Nadella announced the firm’s Metaverse plans for Teams and Spaces on Nov. 2 during the Microsoft Ignite conference. “The Metaverse enables …
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