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An international forum on the cryptoindustry will be held in February.
An international forum Blockcain Life 2023 will be held in Dubai from February 27 to 28. The forum will be attended by key figures from the crypto world, government representatives, heads of international companies, funds, investors and startups.
The forum has been held since 2017 and is among the top three international events dedicated to the crypto industry.
What will be at the forum
Networking with 4000 participants and meeting the heads of industry companies
An exhibition area with over 100 project booths
Speeches by industry experts in the conference hall
After-party on a luxury yacht “LOTUS”
The participants of the forum will find the projects for investment
interesting business solutions, partners. The Blockchain Life 2023 program will include speeches about industry trends: DeFi, NFT, metaverses, mining and much more.
Sam Bankman-Fried will appear in court in Bagram on December 19 and will not challenge his extradition to U.S. authorities.
Sam Beckman-Fried, the former head of the failing FTX exchange, will appear in court in the Bahamas on December 19 to overturn a decision not to extradite him to the U.S. This was reported by Reuters, citing a source. The head of FTX was detained in the Bahamas on December 13 at the request of the United States authorities.
Last week, the SEC filed charges against Bankman-Fried for running a scheme to defraud investors. The SEC plans to hold the FTX chief accountable for fraudulently obtaining billions of dollars from investors and for misusing those funds to buy luxury real estate and political contributions.
Upon arrival in the U.S., Bankman-Frieda will find himself at a detention center in Brooklyn, a few days after his arrival, a trial will take place where he will be asked to plead guilty and a judge will consider bail. Since it is unknown where the stolen funds are now, Bankman-Fried will remain in custody.
Aplle AppStore blocked Coinbase cryptocurrency wallet update due to the presence of NFT-related transactions.
The AppStore blocked an update to Coinbase Wallet that added the ability to send NFTs to other users. The app store on iOS gas payments must go through Apple’s payment system and the company must charge a 30% fee on transactions.
Apple’s claim is that the gas fees required to send NFTs need to be paid through their In-App Purchase system, so that they can collect 30% of the gas fee.
According to the Coinbase team, knowledgeable people who understand how blockchain works clearly understand that this is impossible. Gas goes to the processing of the transaction in the blockchain, not any of the parties. Especially since the payment system in Apple's apps does not support cryptocurrencies.
Coinbase Wallet developers hope that the problem will be solved soon and think that this is just an omission on Apple’s part. They are also ready to interact with the company and are willing to help sort out the issue.
Crypto wallet for mobile devices that allows you to easily manage all your assets, send cryptocurrencies by names, not addresses, and use decentralized applications.
Kraken has announced its intention to lay off 30% of its staff due to a decline in trading on the crypto exchange.
Cryptocurrency exchange Kraken will cut 30% of jobs, which is about 1.1 thousand employees. This decision was made so that the company could survive the Crypto Winter and adapt to the current market conditions. The decision was published on the exchange's blog.
The reduction of the team is due to the high level of decline in trading and reduced inflows of new customers, which is the consequence of macroeconomics and geopolitics. The size of the team will be reduced from the size of a year ago.
According to CEO Jesse Powell, the exchange has exhausted other ways to cut costs, and layoffs will help the platform maintain business in the long term.
Popular exchange known to many traders working on both the cryptocurrency and the fiat market. KR is a proven and reliable cryptocurrency exchange that provides a huge amount of tools for various types of trading.
Regardless of the long duration of the crypto winter and the collapse of FTX, cryptocurrency will still be used abundantly in the future.
According to Coindesk, analyst firm Morgan Stanley expects further bankruptcies of crypto industry players and deleveraging. Following the collapse of FTX, the market is now re-evaluating the value of the project’s issued tokens and trying to figure out if they were used as leverage.
Despite the fallout from FTX, financial analysts believe that the industry will see a new dawn and will continue to be profitable. The industry is still focused on building digital asset infrastructure, but experts believe it won't enter everyday life until 10 to 15 years from now.
Morgan Stanley expects further deleveraging, focusing on the declining capitalization of stablecoins, especially Tether (USDT).
The markets were shut down after announcing possible risks associated with them. Interviewees unanimously agreed that the decision was correct.
DeFi-Protocol Aave announced a temporary freeze on lending operations for 17 tokens. The decision was put forward to the community, during which it won 100% support from users.
The list of blocked tokens included the following tokens: yearn. Finance (YFI), Curve DAO (CRV), 0x (ZRX), Decentraland (MANA), 1inch (1INCH), Basic Attention (BAT), Enjin (ENJ), sUSD (SUSD), Ampleforth (AMPL), Gemini Dollar (GUSD), Rai Reflex Index (RAI), Pax Dollar (USDP), Liquity USD (LUSD), xSUSHI (XSUSHI), DeFi Pulse Index (DPI), renFIL, Maker (MKR).
On November 22, Aave incurred $1.6 million in bad debt due to a large loan in the Curve DAO token. Aave developers said that the project has protection against such cases. There is a separate protection module and reserve funds for this. The said loan debt was less than 0.1% of the total percentage of lending on the platform.
Revenues from Bitcoin miners have fallen to their lowest in two years. The network's hash rate fell by 13%.
On Nov. 26, according to Blockchain.com, Bitcoin mining revenue was $11.6 million. Previously, the mining low was revealed on November 2, 2020, on which day $10.9 million was earned at a rate of $13,700.
Bitcoin miners’ earnings fell amid the steepest drop in the value of BTC since 2018. It is now trading at $16,220, which is 76.5 percent below its all-time low.
In 24 hours, 131 blocks of the Bitcoin network were mined, the reward at the current rate was $13.2 million. A quarter of these blocks were mined by miners connected to the Foundry USA pool. AntPool (25), Binance (19), F2pool (16) and ViaBTC (12) were also involved in mining.
The hashrate of the network was also reduced. If on November 2 it reached the maximum of 273 Eh/s, now it fell to 237 Eh/s. This means that some of the miners shut down their equipment.
In addition to Binance, crypto projects Aptos Labs and Animoca Brands also invested in the idea.
Cryptocurrency exchange Binance has allocated $1 billion to the industry recovery fund. Changpeng Zhao, head of the exchange, made the announcement on Twitter. The amount of money that the exchange has allocated throughout time to the crypto industry development fund is now more than $2 billion.
The SAFU (The Secure Asset Fund for Users) fund, created in 2018, consisted of BUSD, BTC and BNB to the tune of $1 billion. Other cryptocurrencies such as Polygon Ventures, Jump Crypto, Aptos Labs, Kronos and others also joined the fund. Together, they will contribute about $50 million. These funds will be used to buy troubled assets and support the industry as a whole.
Binance said that they have already received 150 applications from companies that need help. In addition to financial assistance, Binance helps provide companies with advice, technical support and other support.
The testing of Japan’s electronic currency will last for two years. During the testing period, companies and individuals will be able to use the token in practice.
In spring 2023, the Bank of Japan, in cooperation with the country's three major banks and regional institutions, plans to begin the practical phase of testing the digital yen.
According to Nikkei, the testing will last two years. It will include digital currency deposits and withdrawals, as well as testing support for the asset without the Internet. Depending on the results of the testing, a decision will be made in 2026 to switch to the digital yen.
In 2021, there was already a test of basic functions such as issuance and circulation. The next phases of testing will be the last before the digital currency is released to the public.
In addition to the development of the currency itself, the government also needs to form a series of laws governing its use. The digital yen is supposed to be used in all cases where cash is used.
The volume of transactions on popular trading platforms decreased by at least 60%.
During the week the sales volume on the largest crypto exchanges more than halved. According to analysts from Kaiko, the decline in volumes came a week after the collapse of FTX.
Trade volume cooled off significantly last week after one of the busiest weeks ever during the FTX collapse. Weekly volume on Huobi and Bitfinex dropped 82% and 75%, respectively. Gemini's volume fell by 56% after the exchange halted its Earn program and Binance’s dropped 60%. pic.twitter.com/bGbYPyLKpB
Trading volumes on Huobi exchanges fell by 82% and Bitfinex by 75%. Gemini saw a 56% drop in volume, which led the platform to limit payouts to its clients.
The trading volume of the Binance exchange decreased by 60%. On platforms BitMEX, Binance US, Coinbase, Kraken and KuCoin the volume of sales also halved.
There was also a decline on the DeFi-platform Uniswap V3. Before the collapse of FTX, its trading volume was $4 billion a week, now it has dropped to $1 billion. After the fall of FTX there was an outflow from the centralized exchanges, and decentralized exchanges on the contrary gained new customers.