A Layer two (L2) project, called Cryptogpt, which leverages ZK-rollup technology and artificial intelligence (AI), has announced that its team has raised $10 million in capital from a Series A funding round. The crypto and AI firm disclosed that the new funds would be used to expand into the largest Asian markets, and the company…
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It’s been a turbulent week in finance with the so-called crypto-friendly Silvergate Bank announcing its liquidation, U.S. Senator Elizabeth Warren blaming the event on “crypto risk,” and individuals on social media pointing out that Warren is “terribly misinformed.” Additionally, U.S. Regulators closed Silicon Valley Bank after reports of a bank run and other troubles. In…
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2022 was a year of phenomenal cryptocurrency blowouts, as several projects collapsed and many more are on life support after the entire ecosystem was shattered. The fallout from these digital currency projects has not only removed billions of dollars in value from the crypto economy, but also eroded trust. The following is a look at…
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Eight days ago, Paxos announced that the company would no longer mint the stablecoin BUSD. Since then, the coin’s market capitalization has been sliding lower as redemptions have become more prominent. Meanwhile, a data researcher from Nansen has discovered that Binance, the largest cryptocurrency exchange by trade volume, has increased its usd coin holdings by…
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While the second-largest crypto asset by market capitalization, ethereum, has risen 27% against the U.S. dollar in the last two weeks, the network’s average and median-sized gas fees have increased by more than 50%. On the first day of 2023, the average fee to spend ether was around $2.93 per transfer, but today the average…
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On Friday, the Web3 wallet firm Metamask, a subsidiary of the Ethereum-centric company Consensys, announced the beta launch of ethereum staking features will be made available via Lido’s or Rocketpool’s liquid staking services. Users who want to stake ethereum and earn staking rewards can select one of the staking providers within the Metamask Web3 wallet’s…
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On Thursday, the cryptocurrency exchange Huobi Global announced that the trading platform plans to delist the stablecoin HUSD and the delisting will begin at 08:00 (UTC) on October 28, 2022. Furthermore, users with HUSD held on the exchange will see their balances auto-converted to the stablecoin asset tether and the exchange expects to complete the…
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Solidus Labs, which has been monitoring 12 leading blockchains, has detected a majority of scam-like tokens originating from Binance’s BNB Chain. The Web3 and cryptocurrency space is seeing a significant amount of smart contract scams proliferating, with blockchain risk monitoring firm Solidus Labs saying it has detected on average 15 newly deployed scams every hour.…
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Following the U.S. Securities and Exchange Commission (SEC) charges against the socialite Kim Kardashian for unlawfully touting the crypto asset ethereummax, the digital currency jumped 124% in value. However, the ethereummax pump was followed by a massive dump as the cryptocurrency slid 47% lower than the high it reached on October 3. EMAX Token Markets…
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On Monday, the U.S. Securities and Exchange Commission (SEC) filed charges against the celebrity and socialite Kim Kardashian for unlawfully promoting the crypto asset Ethereummax. The U.S. regulator detailed that Kardashian agreed to settle the charges and pay $1.26 million in penalties, and plans to cooperate with the SEC’s ongoing investigation. Kardashian Charged by SEC,…
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