Tag Archives: AA News

Despite the volatile markets, Chainlink (LINK) broke above $9.20 for the first time since August this year, recording a three-month high. The latest price appreciation was triggered by massive activity stirred by LINK wallets over the past five weeks. As per the crypto-analytic platform Santiment’s latest data, traders are “longing” LINK “aggressively.” 🔗 #Chainlink spiked all the way above $9.20 for the first time since August 13th, a ~3 month high despite very volatile...

Adewole Adebayo – one of the main contestants to become Nigeria’s next President – promised to use blockchain technology and cryptocurrencies to generate up to 30 million job positions for locals. The unemployment rate is among the country’s main issues, peaking at almost 10% this year. Crypto to the Rescue In a recent TV appearance, the presidential candidate of Nigeria’s Social Democratic Party (SDP) – Adewole Adebayo – vowed to solve the nation’s unemployment problems by...

USDC issuer Circle announced plans to expand native support of its Euro-backed stablecoin – Euro Coin (EUROC) –  to the Solana blockchain in the first half of 2023. Sheraz Shere, Head of Payments at Solana Labs, said the availability of EUROC on Solana will set the scene for new use cases for instant foreign exchange, offering optionality for traders with a new base currency while enabling lending and borrowing with the stablecoin. FTX to Support Euro Coin’s Deposits and...

Crypto exchange FTX is rapidly losing stablecoin liquidity after Binance CEO Changpeng Zhao (CZ) announced his company’s full exit from its FTT position on Sunday. ETH withdrawals from FTX have also tapped an all-time high, possibly signaling worry among depositors about the safety of their funds.  FTX Withdrawal Wave According to a tweet thread from CryptoQuant CEO Ki Young Ju,  FTX currently has $104.9 million worth of stablecoins in its on-chain reserves. Yesterday, he...

Less than a week after exploiting the leading cryptocurrency derivatives exchange Deribit, the attacker started moving the stolen funds. As of November 5, the hacker had moved 1,610 Ether (ETH) worth over $2.5 million to the U.S.-sanctioned crypto mixer Tornado Cash, leaving a balance of about 7,501 ETH in the address. What Happened? On November 2, CryptoPotato reported that Deribit lost $28 million in a hot wallet exploit. The hacker made away with crypto assets such as...

The United States Department of Justice (DoJ) announced the historic seizure of over $3 billion worth of bitcoin from a fraudster who allegedly scammed the defunct online darknet marketplace Silk Road and stole more than 50,000 bitcoin. The defendant pled guilty to a wire fraud crime committed a decade ago and could face up to 20 years in prison. In a press release on Monday (November 7, 2022), the DoJ revealed the seizure of over 50,000 bitcoin from indicted Silk Road...

Sam Bankman-Fried, CEO of FTX, has come out to allay fears about the state of the crypto exchange’s finances. Bankman-Fried said the platform has excess cash and clients’ funds are safe while also calling on Binance CEO to collaborate with him to improve the ecosystem. In a recent tweet thread on Monday (November 7, 2022), Sam Bankman-Fried, also known as SBF, said the crypto exchange which he spearheads has sufficient funds to cover clients’ holdings. The CEO also doused...

The decentralized finance industry has seen its fair share of incidents, either due to human error or otherwise. As a result, the call for regulation has never been louder, even if it may not necessarily have the expected outcome.  An Example to Consider People who have kept close tabs on the DeFi space will know protocols can come and go in the blink of an eye. Although numerous hacks, thefts, and phishing attempts exist, some projects close for various reasons. One example...

Last month was quite spooky for the crypto industry as it saw the highest number of DeFi hacks this year.  While October was expected to be “Uptober,” it quickly turned to “Hacktober” as cyber criminals ransacked top crypto projects for hundreds of millions of dollars.  Hackers Steal $760M From DeFi Protocols A recent tweet by the blockchain security company PeckShield pointed out that October was the biggest month for hacking activities this year. The DeFi market suffered...

In the aftermath of the crypto winter, which erased billions of dollars from the industry after last year’s rally to an all-time high, many firms have significantly reduced their headcounts over the past few months to cut operational costs.  This may not come as a surprise due to the impact of the bear market, which forced several big companies, including Three Arrows Capital (3AC), Voyager Digital, and Celsius Network, into bankruptcy.  The Crypto Job Cut Trend While some...