DeFi News Daily Official TheBitTimes.com

The stolen currencies are Frax (FRAX), Wrapped Ether (wETH), Aave (AAVE), SushiSwap (SUSHI), Frax Share (FXS), AAG (AAG), Binance USD (BUSD), Dai (DAI), Tether (USDT), Wrapped BTC (wBTC) and USD Coin (USDC). As it was already announced, one of the harmed tokens belongs to our partners — AAG Ventures. A total of  84,620,000 $AAG tokens  were stolen through the Horizon Bridge. On June 23rd, starting at about 11:08 AM UTC until 11:26 AM UTC , transactions were made  from the bridge for various tokens, one of them being for the $AAG cryptocurrency. Hacking Incident Details The hacker was able to cash out around 6M of the stolen $AAG. Then he leaves his wallet with the remaining 78M. On June 24th, at 5:35 AM UTC, the malicious transaction was reported as a hack on the Lossless protocol platform  and the 78M $AAG tokens were effectively frozen for a period of 24 hours. You can see the  report details here. Decision-Making Body In the period of 24 hours the Decision-Making Body, comp...

This event is an exclusive VIP kickoff party to NFT NYC, and it will feature special appearances of reputable crypto icons and key announcements from different brands. About CLV CLV is an omnichain infrastructure platform made ready for scaling in multi-chain universe while elevating metaverse experience. CLV Features a substrate-based CLV Blockchain that is EVM-compatible and cross-chain interoperable, and also a CLV Wallet that provides universal access to all major chains and dApps. About Champ Medici Champ Medici is Cordell Broadus, the second son of the famous Snoop Dogg. Before the emergence of NFT, Web 3.0, and metaverse, he was a talented footballer. At 25, Champ Medici is a renowned crypto entrepreneur and investor. He is responsible for Snoop’s NFTs and Web3.0 endeavors and has built a massive portfolio of NFTs and investments. About Polygon Studios Polygon Studios is the Gaming and the NFT arm of Polygon focused on growing the global Blockchain Gaming and NFT industr...

It integrates DeFi and NFT into a larger metaverse scene to produce a uniform and standardized Web3 behavioral metaverse universe. BurgerCities aims to create a unified and standardized metaverse world of Web3 via integrating DeFi, NFT to the wider Metaverse. In this world, users could carry out daily events such as social, gaming, etc. Meanwhile, they could experience DeFi and NFT functions with their own avatars such as trading, staking, NFT exhibitions or gamefi, etc. BurgerCities hopes to contribute fresh energy to the booming in the metaverse and brings new vigor and vitality into Web3 applications such as DeFi and NFT. About Palmare The introduction of the Move to Earn app has redefined the fitness industry. Based on this success, we decided to make the Palmare app based on researching and optimizing the Earning system and bringing a new experience to the sports community . Palmare is a Community-driven Web3 Sports App with an inbuilt SocialFi and SportFi element . In Palma...

The partnership of the two Web3 projects will simplify user access for DeFi from various chains to the wide variety of instruments offered on Spin including  spot  and  perpetual trading , decentralized option vaults, and other types of derivatives and investment products. The upcoming integration of Spin and Axelar will allow users from EVM blockchains to trade on Spin without the actual need to create a wallet and transfer funds to NEAR Protocol. How will the Spin and Axelar integration work? You simply click deposit and insert the amount of USDC you want to deposit. Axelar receives the deposit and locks it on Ethereum, after that, passes a message to mint the equal amount of axlUSDC on Aurora. The second message is sent via the Rainbow Bridge to Spin to confirm that the ERC-20 USDC has been locked. Your balance is topped up by the necessary amount of NEAR Protocol’s USDC and you can start trading. If the user’s balance on Spin increases after a few successful trades, they...

Metawork and KardiaChain aspire to create numerous job opportunities in the market and together acquire more end-users to blockchain projects with innovative solutions in cognitive collaboration with a shared set of goals. The future holds many opportunities for both Metawork and Kardiachain to collaborate and bring the affiliate platform to the next level. KardiaChain is an EVM compatible, layer 1 solution which specializes in providing seamless interoperability across chains. This is possible because of Dual Node and elastic sharding infrastructure. The ultimate goal of KardiaChain is to create a unified ecosystem where developers can easily create smart contracts that can run on multiple blockchains to optimize costs, avoid congestion, and allow communication with smart contracts on other chains in a trustless and secure manner. KardiaChain Use Cases Launch your NFT Marketplace Create your Crypto Token Deploy a Decentralized App Build your Blockchain Game KAI is the prim...

This makes available reliable elastic Fuse nodes and a free public RPC endpoint for the Fuse community.  Application builders on Fuse can now choose from four subscription plans for launching and managing Fuse nodes for their apps. One of the most important problems blockchain platforms must solve is to enable mass adoption. Making it easy for developers to connect to the blockchain and start building applications on top of it without having to focus on those aspects too much. Freeing developers from focusing on nodes Chainstack is a leading web3 infrastructure-as-a-service provider bolstering access to blockchain platforms . The enterprise-grade platform supports 18 public blockchains, which, in addition to Fuse Network. These blockchains include Ethereum, Bitcoin, BNB Chain, Polygon, Fantom, Near, and Avalanche. The core product provided by Chainstack is  highly performant enterprise-grade full nodes  on the supported blockchains. Developers building blockchain apps can leverag...

The Terra debacle has still not come to a conclusion. After the epic fall, and the recent arrest warrant from not just Korean authorities, but from Interpol as well, the case of CEO Do Kwon and his firm Terraform Labs is one straight out the television. In a recent interview with the Wall Street Journal (WSJ), a spokesperson for Terra claimed that the authorities involved in the case are overreaching. The firm sent a statement to the WSJ, in which they claimed that LUNA was not legally a security. Hence, the asset does not come under the South Korean capital-markets law. In response to pressure from the public over the collapse of Luna, the Terraform Labs representative claimed that South Korean authorities had extended the meaning of a security. Furthermore, the spokesperson said that the case had become highly “politicized,” and the actions of the Korean authorities were unfair and did not uphold basic rights. Is the Terra CEO on the run? Terra ’s s...

This provides its users with stronger assurances that Volare Finance eliminates the credit risk issues related to option trading in the over-the-counter (OTC) market in the conventional financial world by providing traders with fair and accurate market prices. Volare’s initial integration involves the use of the following Chainlink Price Feeds: USDC-USD BTC-USD ETH-USD AVAX-USD They chose Chainlink as its go-to oracle solution because its infrastructure is seamless to integrate and time-tested in production. Chainlink already helps secure leading DeFi protocols. Responsible for tens of billions of dollars in smart contract value. It also maintains robust security and high availability even amidst unexpected events, such as exchange downtime, flash crashes, and data manipulation attacks via flash loans. Volare Finance Mechanism The Volare mechanism stimulates trading in DeFi crypto options while providing experienced options traders with important information. It is id...

Docomo partners with Astar to promote Web3. Based on the basic agreement, the two companies will launch a project to solve social issues utilizing the concept of the decentralized autonomous organization (DAO), which is one of the features of Web3.  The two companies will work together to formulate solutions using Web3 technology to various issues facing modern society, such as regional development and addressing environmental problems. Web3 is a next-generation web that utilizes blockchain technology and incorporates mechanisms such as “decentralization” and “token economy”. The expansion of Web3 is expected to solve issues and create economic blocs. That has been difficult to realize using conventional economic principles alone. On the other hand, Web3 is still in its early stages of technological development, and issues such as lack of awareness, difficulty in understanding how to use it, and lack of a secure environment for its use are also becoming apparent. By combining DOCOMO’s ...

Lark Davis, a crypto vlogger, recently shared his views on the top 8 DeFi protocols and their tokens in a tweet thread. DeFi is a sector of crypto that offers financial services without intermediaries. Top 8 DeFi Protocols & Token Utility The top 8 #crypto #defi DeFi protocols collectively manage $40B. But are the tokens any good? Let's investigate with a no BS to give you the down and dirty on the use-cases of these tokens. Source: TVL per @DefiLlama pic.twitter.com/YSUsylikam — Lark Davis (@TheCryptoLark) February 28, 2023 Davis ranked the protocols by their TVL, which measures how much crypto is deposited in them. He also evaluated their tokens by their use cases, governance Features , yield opportunities, and price potential. The number one spot went to Lido, a liquid staking protocol that lets users stake their crypto on multiple POS chains and receive daily rewards. Davis concluded that Lido’s token, LDO, is for governance but has no burn or yield...

Consequently, this arises from charges related to the dramatic collapse of FTX in November 2022. Additionally, a notable point of contention has been Bankman-Fried’s decision to share the personal writings of his former associate and ex-romantic interest, Caroline Ellison, with a journalist from The New York Times. advertisement Defending Reputation or Witness Tampering? Bankman-Fried ‘s lawyers emphasize that the sharing of Ellison’s documents was aimed at protecting his tarnished reputation. Hence, they argue that a witness promising to testify against someone cannot be realistically threatened by a renowned newspaper’s publication of their own words. However, U.S. District Judge Lewis Kaplan had other views. On August 11, he revoked Bankman-Fried’s bail, suspecting witness tampering after the disclosures. Moreover, Ellison, formerly in a key position in Bankman-Fried’s circle, has pled guilty to fraud. Besides Ellison, two ot...

Last year, the once-well-known crypto lender filed for bankruptcy. Blockfi, a bankrupt crypto lender, has asked a court to let it sell its loan business so that it can get money to pay back its creditors. After failing to sell the site to a third party, the move was made. BlockFi said that it did not get offers from potential buyers that maximized its worth. BlockFi to Liquidate Lending Business In a document filed with the U.S. Bankruptcy Court in Trenton, New Jersey, on Friday, the failing lender told the court about the Chapter 11 plan. Even though the company plans to ask creditors and retail customers to vote on the plan, the court still has to agree to it. BlockFi filed for bankruptcy in November and said that changes in regulations were one reason why it didn’t get good offers from potential buyers. “Therefore, finalizing and consummating a transaction for the BlockFi Platform would not result in an expedient and value-maximizing transactio...

Binance said it aided in the recent arrest of prominent members of a branch of the ISIS terror group in Tajikistan and Turkey.  The crypto exchange said it monitored activities on popular Telegram group channels used by ISIS officials to identify crypto wallet addresses.  Binance said it processed over 47,000 requests on different crypto-related crimes last year.  The world’s largest crypto exchange, Binance, says intelligence provided by its investigations team helped in the recent arrest of prominent and wanted members of a branch of the ISIS terror group in Tajikistan and Turkey. A recent statement on the Binance website says it worked with the National Bank of Tajikistan and crypto forensics firm TRM to take down the group.  In an interview with Fortune Magazine, Binance’s head of financial crime compliance, Tigran Gambaryan, said the crypto exchange helped identify crypto wallet addresses used by members of the terror group to receive ...

Aug 25, 2023 at 09:43 // Price Author Coin Idol The latest price Analysis by Coinidol.com report, Bitcoin (BTC) price has returned to a sideways pattern after the price decline on August 17. Bitcoin price long term forecast: bearish The largest cryptocurrency is currently trading between $25,600 and $26,800. Doji candlesticks were observed last week, which resulted in the price of BTC remaining unchanged. The cryptocurrency recovered on August 23, but failed to overcome the $27,000 resistance level. The price of BTC fell into the range of fluc...

In a recent letter published to investors, Pantera Capital predicts that Bitcoin could reach $148,000 following the 2024 halving. Indeed, the venture capital firm headed by Dan Morehead, predicted the price of BTC to surge, utilizing the stock-to-flow (S2F) ratio in its model.  The venture capital firm evaluated the forecast and pricing trends related to each halving. Moreover, in its most recent Blockchain Letter, the firm highlighted how the price of the asset could skyrocket. Something that could well be impacted additionally by the presence of a spot Bitcoin ETF approval.  Source: Crypto news Also Read: SEC Approval of Spot Bitcoin ETF Now ‘Better Than 50/50 Chance’ Bitcoin to Exceed $147,000 After 2024 Halving? Bitcoin is far and away the most prominent digital asset on the market. Moreover, the next Bitcoin network halving is set to take place in more than 240 days. A host of price predictions and expectations have been shared regarding the event....

Rarible announced decision to maintain creator royalties. The marketplace also decided to remove OpenSea and Blur from their aggregation data. Following the decision, Rarible’s trading volume surged 637% within 24 hours. There was a significant surge in Rarible’s trading volume following the NFT marketplace’s decision to maintain creator royalties and remove both OpenSea and Blur from their aggregation data. According to DappRadar, a data analytics platform, Rarible’s trading volume surged 637% within 24 hours. 2/ Read more about what's going on at @opensea below https://t.co/Fv5dVGIx1K pic.twitter.com/1IiakqmxD9 — DappRadar (@DappRadar) August 23, 2023 Rarible’s trading volume surge was remarkable compared to other competitors during the same period. OpenSea and LooksRare experienced a trading volume rally of 19% and 24% respectively, while X2Y2 saw a volume increase of 8.8% during the period under observation. On August 22, Rarible’s co-f...

E-commerce businesses using Shopify can now integrate Solana Pay to enable USDC payments . Solana Pay, a payment system built on Solana, is partnering with Shopify for businesses to access a faster, more efficient, and transparent payment mechanism. This integration will empower Shopify-based merchants to tap on blockchain’s capabilities by facilitating real-time fund access, enhanced management of working capital, liquidity, and improved protection against liabilities. You might also like: Solana network reports 100% uptime with only 1 outage in Q2 As a result, businesses can bypass traditional banking hassles, such as unwanted fees, chargeback issues, and delays in payment processing. This alliance will also pave the way for direct and swift settlements using USDC from other networks compatible with Solana. “Solana Pay on Shopify opens up millions of merchants to a more dynamic and efficient payment choice, while consumers get the convenience and i...

BTC price action is causing some to panic, but Bitcoin miner confidence in the network is there for all to see. Bitcoin (BTC) network fundamentals are in no mood to follow bearish BTC price action this week. The latest on-chain data confirms that difficulty has hit new all-time highs, with hash rate not far behind. Bitcoin mining difficulty ends slump Despite BTC/USD dropping 10% last week, Bitcoin miners appear to be taking the price downturn in their stride. This was cemented in network activity on Aug. 22, as difficulty increased by 6.17% at its latest biweekly automated readjustment. Not only was this enough to take difficulty to new record highs, it marked Bitcoin’s sixth-largest difficulty uptick of 2023, figures from monitoring resource BTC.com show. Difficulty is a reflection of both miner competition and Bitcoin network security, and its upward trajectory suggests that miners are not yet struggling when it comes to profitability. The next automated readjustment is already d...

Shytoshi Kusama today announced that Shibarium is almost ready to reopen to the public after two days of testing and tweaking parameters. It now has a new monitoring system and additional fail-safe mechanism including rate limiting at the RPC level and auto server reset. Moreover, additional validators are going live on the network, which increases security and enables more BONE token staking. Whale Activity Rising Amid Shibarium Restart An analysis of recent transactions on Etherscan revealed that recent transfers of nearly 4.6 trillion SHIB tokens are related or done by a single entity. Wallet address “0x3442” received 4,639,778,173,637 SHIB from “0xc684” yesterday. “0x3442” transferred 4,627,778,173,637 SHIB to “0xA9d1” and 12 billion SHIB to “0x95B5.” Similar SHIB transactions and transfers to “0x95B5” were noticed, which is happening for almost over a month. Also, a presence of a Shibarium mainnet valid...

The price of Shiba Inu (SHIB) experienced a decline subsequent to the introduction of the Layer 2 solution known as Shibarium . Within the last 24 hours, SHIB’s value decreased by 4.6%, marking a 25% decline over the course of the week. These drops occurred in the aftermath of Shibarium ’s launch, during which technical challenges and a bridge error emerged, causing a temporary lock on user funds. Despite the fact that the team behind Shibarium promptly addressed these concerns, the initial hurdles during the launch seemed to have a moderating effect on investor interest in Shiba Inu. Also read: Ethereum’s Vitalik Buterin Moves 600 ETH to Coinbase, What’s the Motive? Shiba Inu marketing team member Lucie recently shared a tweet highlighting her insights on the recent drop in the price of SHIB, BONE, and LEASH. Let’s be honest! My $BONE, $SHIB, and $LEASH dropped a lot, just like the whole market. Was I unhappy with @ShytoshiKusama? No! ...

Ethereum Creator Vitalik Buterin Selling ETH According to data by PeckShieldAlert, a wallet address linked to Vitalik Buterin transferred 600 ETH worth nearly 1 million to Coinbase on August 21. advertisement Typically, the movement of ETH by Vitalik Buterin and the Ethereum Foundation is followed by a fall in ETH price. While the reason behind the recent transfer remains unknown, some speculate another massive selloff by Vitalik Buterin. After the Shanghai upgrade, the Ethereum team is working on the Cancun upgrade, bringing account abstraction, increasing scaling, and improving storage effectiveness. Read More: Decentralized Social Platform Friend Tech Trumps Bitcoin and Uniswap in Total Fees Recommended Articles Crypto Presale Projects For 2023 To Invest; Updated List Must Read ...