Soumajit Sinha
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in News
Hackers Exploit DeFi Protocol Inverse Finance to Steal $1.2M Worth of Crypto
Ethereum-based decentralized finance tool Inverse Finance was exploited for over $1.2 million worth of cryptocurrency on Thursday morning, on-chain data appears to show. Exploiters seemed to use a flash loan attack to trick the protocol and steal more than 53 bitcoin, worth just over $1.1 million, and 10,000 tether (USDT), a stablecoin backed on a 1-1 […] More
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in NewsOpenSea Reduces Ethereum Gas Fees by 35% by Moving to Seaport Protocol
OpenSea has moved to the “Seaport Protocol,” a new smart contract that the NFT marketplace says will allow its 1.8 million users to save money on Ethereum gas fees. With the Seaport contract, users will be able to save roughly 35% on gas, the company said. And new accounts will no longer require that one-time “setup fee” OpenSea previously charged. More
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in NewsKazakhstan Allows Local Banks to Work With Crypto Exchanges
The Ministry of Digital Development, Innovations and Aerospace Industry of Kazakhstan Republic announced on Thursday a pilot project of cooperation between the crypto exchanges and some of the local banks. The pilot project will be functioning until the end of 2022 and include the exchanges that have gained a license from the freshly-formed Astana Financial Service Authority […] More
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in NewsFTX, Binance, Ripple, and Kraken Continue to Hire in the Midst of Firing Rage
Binance, Ripple, Kraken and FTX go on hiring spree while major crypto companies, even unicorns like Coinbase, Gemini, Robinhood, and several others are laying people off in thousands blaming the bear markets and global economic contraction. Sam Bankman-Fried, co-founder and CEO of FTX crypto exchange, also announced last week that the exchange is expanding and […] More
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in NewsAtmos Labs Obtains $11M in Seed Funding to Develop ‘Metaverse-Native’ Sports
Blockchain gaming developer Atmos Labs has raised US$11 million in seed funding to develop metaverse-native sports for its virtual world. The funding will be used to expand the development team and grow its community, as well as the virtual game world of Atmos – an expansive sci-fi themed universe. More
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in NewsGoldman Sachs Introduces Ether-Linked Derivative Trade
Goldman Sachs has started trading a type of Ethereum-linked derivative. Goldman Sachs has introduced a derivatives product that is tied to ether as part of an expansion of their crypto offering directed toward clients, according to a Bloomberg report on Monday. More
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in NewsFrance May Incorporate Blockchain Ticketing for Paris 2024 Olympic Games
The French Government’s Olympics committee might incorporate blockchain technology into its ticketing system and provide non-transferable, personalized passes to spectators. Assuming France fulfills its ambitions, it won’t be the first time the Olympic Games and the cryptocurrency industry have been tied together. Last summer, the Indian exchange Bitbns awarded local medal winners from the Tokyo […] More
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in NewsEl Salvador Claims Not to Have Any Losses Due to Bitcoin Price Dive
Alejandro Zelaya, the minister of finance of El Salvador, reacted to the recent media attacks on the nation’s strategy of investing in Bitcoin (BTC) by calling the allegations of fiscal risks “extremely superficial.” The official underscored the impropriety of allegations that around $40 million had been lost by the country’s budget because of the cryptocurrency […] More
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in NewsMark Cuban: Crypto Is Going Through the Lull That the Internet Went Through
Mark Cuban, billionaire entrepreneur and owner of the NBA’s Dallas Mavericks, thinks that cryptocurrency is on the same downward trend that tech and internet companies hit in the early 2000s. Cuban addressed the slump in a viral Twitter TWTR, 3.31% thread on May 9, and crypto prices have continued to slump since then. “Crypto is […] More
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in NewsLawsuit Filed Against Binance.US for Promoting, Selling UST and LUNA
A class-action lawsuit was filed today against Binance.US, alleging that the cryptocurrency exchange misled consumers about the safety of Terra’s stablecoin UST, and native token LUNA. The suit also claims Binance violated federal law both by selling UST and LUNA, cryptocurrencies that the plaintiffs claim are securities that should have been registered with the SEC, […] More
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in NewsEthereum Price Falls to $950 on Uniswap As Whale Dumps 93K ETH
Ethereum’s native token Ether (ETH) fell to as low as $950 on Uniswap—a decentralized crypto exchange— this June 13, about 20% lower than its spot rate across other exchanges. The incident happened at around 3:00 am UTC after a whale dumped 65,000 ETH for multiple “stablecoins,” including USD Coin (USDC), Tether (USDT) and Dai (DAI). […] More
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in NewsMany Miners Find Ethereum Mining No Longer Profitable Due to High Energy Prices
For the first time since 2020, Ethereum mining has become unprofitable for many miners connected to a traditional energy grid. Should energy prices drop below $0.24kwh to match average costs in other parts of the United States, Ethereum would also become profitable. More
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