Category Archive: Cryptocurrency, No picture
Jack Dorsey Explains Why He’s Steered Clear of Ethereum
Key Takeaways Twitter CEO Jack Dorsey has expressed his stance on Ethereum. Users recently suggested that Twitter was afraid to work with Ethereum because it could disrupt Big Tech. Dorsey said that Ethereum has some value, but that he and Twitter have decided to focus on Bitcoin. Twitter founder and CEO Jack Dorsey has expressed […]
Polygon Acquires Layer 2 Blockchain Hermez for $250 Million
Key Takeaways Polygon is spending $250 million to acquire all HEZ tokens and rebrand the Hermez Layer 2 to Polygon Hermez. Polygon Hermez will be a true Layer 2 Ethereum solution, with low fees and low latency. As part of the deal, HEZ holders will be able to exchange their HEZ tokens with MATIC tokens […]
Cardano Says Smart Contracts Will Go Live in September
Key Takeaways Cardano’s team has confirmed that smart contracts are scheduled to launch on the blockchain with the Alonzo hardfork on Sep. 12. The launch will allow for DeFi, NFTs, and gaming apps to go live on Cardano. Cardano’s ADA token has surged today in anticipation for the update. It’s now the third biggest cryptocurrency […]
Cardano Now Third Largest Crypto Ahead of Smart Contracts Update
Key Takeaways Cardano has become the third-largest cryptocurrency by market cap after breaking $2 earlier today. Charles Hoskinson is expected to announce the date smart contracts will launch on Cardano as part of the Alonzo hardfork today, which may explain the rise. Further buying pressure could see ADA climb to new all-time highs, but a […]
Argentina May Adopt Bitcoin to Curb Inflation
Argentine president Alberto Fernández has made several positive comments regarding cryptocurrencies, suggesting that the country could adopt Bitcoin to curb its rampant inflation. Argentina Eyes Bitcoin Adoption Argentina joins the growing list of South American countries contemplating cryptocurrencies. In an interview on the Caja Negra YouTube channel, president Alberto Fernández made several comments regarding cryptocurrencies, […]
Coinbase Criticized for USDC’s Unclear Dollar Backing
Coinbase and Circle have been criticized over a change of policy concerning their dollar-pegged stablecoin, USDC. Coinbase Changed Statements On USDC Bloomberg criticized Coinbase this week by drawing attention to past and present statements on the exchange’s website. Coinbase’s website initially stated that “each USDC is backed by one US dollar, which is held in […]
Poly Network Hacker Returns Almost All of $611M Loot
Key Takeaways The Poly Network hacker has returned the remainder of the $611 million they stole this week on Ethereum mainnet. The team confirmed that almost all of the funds were recovered, except for $33 million worth of frozen USDT stablecoins. In an onchain message, the team offered the hacker a $500,000 as a thank […]
DAO Maker Suffers $7 Million Exploit
Key Takeaways DAO Maker was exploited today. An attacker stole $7 million after discovering a smart contract vulnerability. The attacker converted the loot to 2,261.45 ETH to prevent funds from getting blacklisted. The DAO token has plummeted 15% following the incident. This news was brought to you by Phemex, our preferred Derivatives Partner. Crypto launchpad […]
How Polygon and xDai Will Adopt EIP-1559
Key Takeaways Polygon and xDai are two Ethereum sidechains. They run their own consensus mechanism and have their own native tokens. The two networks are planning to introduce their own takes on Ethereum’s EIP-1559 fee burning proposal. Introducing a variant of EIP-1559 could lead their native tokens to appreciate in price due to a reduction […]
Bitcoin Whales Book Profits as Steep Correction Looms
Key Takeaways Bitcoin’s uptrend seems to be reaching a point of exhaustion. Whales have been selling in preparation for a pullback. The $45,230-$46,560 resistance level will decide where BTC goes next. This news was brought to you by Phemex, our preferred Derivatives Partner. On-chain metrics have registered a spike in profit-taking behind Bitcoin following an […]
