According to the Bloomberg, the culprit behind one of the biggest hacks this year, more than 100 million worth Harmony bridge exploit, is the Lazarus Group. Lazarua Group is a known North Korean hacking group which has been involved a a lot of hacks in the last few years. Harmony which got a lot of…
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BlockFi, Celsius, Nexo, and more: tough times can lead to difficult measures, and this year’s bear market is showing no exception to some of these players. Look no further than the current state of affairs for centralized finance (CeFi) platforms, who have been facing substantial headwinds with no end in sight. Now, after days of rumors and reported exploratory deals, reports have emerged that powerhouse crypto exchange FTX is putting together the final ties around an acquisition deal of BlockFi at just a $25M valuation. The news comes after reports emerged that FTX passed on an acquisition deal for Celsius after seeing the CeFi firm’s balance sheet. BlockFi On The Block Should the purchase come to fruition at the reported valuation, it’ll be a major hit for BlockFi equity holders, following a nearly $5B valuation last year in the midst of bull market movement. However, that $25M number could move drastically between today’s reports and closing time – and a successful acquisition will of course take months to close. BlockFi CEO Zac Prince described the number as “market rumors” and outright denied the number, stating in a tweet that “we aren’t being sold for $25M.” FTX is on the shortlist of exchanges that have sought out opportunity in the midst of crypto market downturn, exploring buyouts or equity share purchases for both Celsius and BlockFi in recent weeks, according to a variety of reports. However, based on the hard facts available to the public, the viability and likelihood of a buyout for BlockFi is still difficult to measure. Celsius (CEL) has faced an uphill battle as the platform has still paused withdrawals for customers. | Source: CEL-USD on TradingView.com Related Reading | Ethereum Loses Steam As Exchange Supply Spikes State Of CeFi: Pulse Check How did we get here? Bear market downturn over the past month or two has caused major pain for CeFi platforms, in a flurry of madness that started with Celsius freezing withdrawals earlier this month amid worries of a bank run and lack of immediate liquidity within the platform’s holdings. BlockFi has undoubtedly faced the heat, too, as FTX provided the firm with a $250M emergency line of credit just last week. While reports across the market suggest that BlockFi has several options on the table, it seems that few will lead down a path that spares equity shareholders of value at present time. Nexo has largely stayed quiet during the chaos, but there’s various internet sleuths who have targeted Nexo with content campaigns around the company’s practices as well. Regardless of how you feel about CeFi, the decline of infrastructure in this bear market shouldn’t be celebrated – we’ll see how it all shakes out when the tides recover. Related Reading | USDC Exchange Reserves Rise As Investors Escape From Bitcoin Featured image from Pixabay, Charts from TradingView.com The writer of this content is not associated or affiliated with any of the parties mentioned in this article. This is not financial advice.
I've been learning solidity and smart contracts for a week and today I found out that I can create an nft just by using opensea and deploy it and set the creator fee with zero coding involved. My question is that why should you write smart contracts when you can easily create an nft using…
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The U.S. government agency is reportedly using Coinbase Tracer to access customers’ historical geo-tracking data and transactions on over a dozen cryptocurrencies.
In Metamask, I clicked on 'Create account' and it created a new ETH address, but it has no new seed. I learnt that (hope my language is correct) it is a deterministic child wallet created hierarchically from the original ETH address – the seed of which I have backed up long ago. Is it safe…
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I’m assuming not everyone has played the game as poorly as me. I fell in love with blockchain tech in 2020 and then decided to get risky at the top of this recent market. I’m not in an awful position but I am forced to consolidate into 3 of my most passionate chains and ride…
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After the news of the launch of the Sky Dream Mall metaverse and Stratis GBP stablecoin, the price of STRAX increased by 200% from its low of $0.365 on June 15 to its high of $1.20 on June 29, according to data from coinmarketcap. The price dropped the next day and is currently trading at $1.09, although it is still up from its low. The record high for STRAX was $22.77 on January 8, 2018, more than four years ago. However, the coin’s record low was $0.011 on August 12, 2016, approximately six years ago. Related Reading | Bitcoin Slides Under $20K – Another Collapse In The Offing? In spite of the overall market downturn, per the CoinGecko information, Stratis, a blockchain-as-a-service platform, witnessed a notable gain in volume. And among STRAX, Numeraire (NMR) is another coin that shows a notable gain of 201.1% in the seven-day chart. NMR is an Ethereum token that fuels Numerai (a San Francisco-based hedge fund). Since Stratis has a comparatively strong growth momentum and increased by more than 140.9% over seven days, it is defying expectations in the current bear market. The term “bear market” so refers to a market where commodities or securities’ values are consistently decreasing. Reasons Behind STRAX Price Spike This Week Currently, two of the factors are driving the increase in STRAX’s price this week. The first is the Stratis GBP stablecoin announcement, and the second is the Sky Dream Mall metaverse launch. In a blog post published three days ago, Stratis said that it is making progress in its attempts to introduce the Stratis GBP stablecoin: Plans to launch a Great British Pound Token (GBPT) stable coin using Stratis technology are progressing with ‘Stratis Investment Group Limited,’ a new entity created that will be used for the Stratis GBP stablecoin. However, Price Waterhouse Coopers (PwC), according to the company, is assisting it in obtaining the necessary licenses from the Financial Conduct Authority (FCA). The post also stated that blockchain technology offers a significant chance to streamline cross-border and wholesale payments as organizations like Visa are becoming more open to accepting stable coin payments. Polycarbon Games announced on Twitter on June 25: Sky Dream Mall, a metaverse powered by Stratis Blockchain Coming soon! The idea of Stratis launching the metaverse front could also be a major motivator behind widespread acceptance in the cryptocurrency industry. Related Reading | Mining Operators Fret As Bitcoin Looses Ground, What Lies Ahead For The Mining Community While a few individuals concentrate on the benefit this metaverse will offer, a far more significant number is intrigued by the possibility of financial gain from a metaverse investment. Investors cannot ignore the fact that Stratis is establishing itself with Sky Dream Mall as a major player who will be important in the developing Web3.0 world. Featured image from Pixabay, chart from Tradingview.com
My fault, of course. But Im somewhat experienced and careful, and got got, so I figure Id post. tldr; Upon withdrawing from CDC, toggling to the Yubikey security app caused the withdrawl settings on CDC to partially reset. Went like this; After you set up and scan a QR to whitelist, it needs security input.…
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This week, the rapper Snoop Dogg spoke about the crypto crash in an interview with CNBC on Tuesday and explained that he believes the cryptocurrency economy will bounce back. Snoop said that he feels like the crash “‘weeded’ out all of the people” that were not supposed to be in the space in the first […]
The Bulgarian-German businesswoman was last spotted in Athens in 2017, and now worth up to $100,000 to provide U.S. law enforcement with information about her.
