Category: Cryptocurrency News

Ethereum hasn't even enabled Proof of Stake and it already surpassed many huge copanies like Paypal, Mastercard, Netflix, Shell, Coca-Cola, McDonalds, SAP and many more. https://preview.redd.it/hn1dcnxt9on71.png?width=3699&format=png&auto=webp&s=9f8aa4b0814e461f06dfcd1d28b73c7e48644967 Ethereum's release date was the 30th of July 2015. Just within 6years it managed to compete with the biggest companies, which have been running for decades. It's a great…
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He announced on Twitter today about his bday and subsequent 1 BTC give away to a lucky subscriber on YouTube Davinci Jeremie is his name! Most crypto veteran must already know him as he was the Bitcoin OG who is one of the biggest perma bull. I mean people get ecstatic when they get just…
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State Bank of India (SBI) has reportedly blocked payments to cryptocurrency exchanges using its Unified Payments Interface (UPI). Payment processors have been told to disable the bank’s UPI for crypto merchants. Payment Processors Instructed to Disable SBI UPI for Crypto Firms State Bank of India, the country’s largest bank, has reportedly “blocked the receipt of […]

Hardware wallet brands have been built on the promise of security — but in some cases, these devices aren’t as air gapped as you might think.

Leading wealth management platform Abra completed a Series C funding with participation from the Stellar Development Foundation. The company raised $55 million in the round led by major players in the industry, such as IGNIA and Blockchain Capital. The Stellar Development Foundation was one of the new investors in the company alongside Kingsway Capital and Tiga Investment. In addition, Abra received investments from Lerer Hippeau Ventures, Amex Ventures, Arbor Ventures, RRE Ventures, CMT Digital Ventures, and Kenetic Advisors. Related Reading | An Introduction To Stellar And XLM: Mission, Control, And Consensus Other relevant names participated in the Series C funding, according to a press release. The wealth management platform increased its total funding to more than $85 million since its creation. The release claims that the funds will be used to expand Abra’s team into new offerings which include wealth management, trading, and payments. Thus, why the investment from the Stellar Development Foundation could have a relevant role to achieve this goal.  Bill Barhydt, founder, and CEO of Abra said the following: Cryptocurrencies, NFTs and DeFi are now top of mind for almost all investors. The crypto asset class is growing exponentially, even outpacing the early commercial Internet itself. Our vision of crypto-centric banking is coming to life in front of our eyes, and Abra is excited to serve as a leader in the space. Barhydt claimed to feel “proud” of the Abra team and their accomplishments. The executive expects the platform to keep scaling and growing. Stellar And Abra’s Shared History Of Crypto Expansion Since 2020, Abra has seen “tremendous” growth, according to the press release. The company records a ten-fold increase in revenues, and a 0 to $1 billion in assets under management (AUM) for its custody services, Abra Trade and Abra Earn. Related Reading | Stellar Network To Power New Savings API Launched By Wyre In the same period, the company’s 155,000 monthly users have processed $4 billion in transactions. In that sense, Bart Stephens, Managing Partner at Blockchain Capital, said the following on its latest Series C Funding: We believe Abra is on an exciting growth trajectory, led by a strong management team with an understanding of the long-term potential for cryptocurrencies. Abra offers unmatched accessibility for every type of investor which positions the company well for capitalizing on the growth in adoption and interest in cryptocurrencies globally. In 2020, the Stellar Development Foundation made a $5 million investment in Abra. The partners worked to expand Abra’s financial services with Stellar as a blockchain back-end and “democratize access” to them for new customers in developing countries. Related Reading | New To Bitcoin? Learn To Trade Crypto With The NewsBTC Trading Course At the time, the CEO of the Stellar Development Foundation Denelle Dixon said: Abra is building a product portfolio of financial services that aligns directly with our mission to create equitable access to the global financial system. They’re committed to providing innovative investment opportunities in underserved, capital-scarce markets. Alvaro Rodriguez Arregui, a Managing Partner of IGNIA, added: Abra is perfectly positioned to execute on its mission to expand access to crypto assets in a safe and secure way for customers. As international investors ourselves, we recognize the need for safe and reliable access to the crypto ecosystem and are excited to support Abra. At the time of writing, XLM trades at $0,33 with a 3.8% profit in the daily chart.

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In DeFi, trading crypto options and hedging volatility can be hard. Divergence, an emerging decentralized protocol, aims to make it simple for users. It offers binary options for blockchain-native asset prices, LP tokens, interest rates, and farmed yields. In just three months after its social media debut, it quickly gained traction with crypto communities. The protocol is backed by some of the leading VCs in the blockchain industry such as KR1, Mechanism Capital, Arrington Capital, and P2P Capital. Its list of angel investors includes Do Kwon from Terra Labs, Diane Dai from DoDo, Sandeep Nailwal from Polygon, and Igor Barinov from xDai. It recently revealed strategic investments from Huobi Ventures and AscendEx. ‘’To us, we solidly believe Divergence Protocol would be one of the most important pieces in the Defi puzzle,’’ stated Alex Dong, Research Analyst of Huobi Ventures. Why Divergence Divergence’s first product is an immediately scalable, easy-to-use AMM-based marketplace for binary options. Traders can trade synthetic binary option tokens on various underlying assets. LPs can permissionlessly create markets of their chosen strikes and expiries, using Divergence’s one-step minting and seeding process. Divergence also simplifies the liquidity provision process by quoting options in collateral units of any fungible tokens. This removes a major barrier of entry for many liquidity providers, who can have more flexibility over capital allocation. Key features of Divergence include: Enhanced capital efficiency: Providing liquidity on several on-chain positions is capital inefficient. Option sellers usually over-collateralize their positions to maintain their positions on DEXes. On Divergence, options minting and market-making happen in one single-asset AMM pool. Liquidity providers can provide capital using LP tokens from lending protocols like Aave. Selling a binary call and a binary put requires just 1x collateral and does not involve liquidation. This is because the max loss per sold binary options is pre-determined and reserved by the Divergence smart contracts. Extensive DeFi asset trading options: Divergence provides liquidity providers with a lot more flexibility than other solutions. They can write binary options of a select strike, expiry, and underlying with any fungible token as collateral. This includes tokens from Ethereum-based DEXes like Sushiswap and Uniswap V3. This feature means LPs no longer have to additionally allocate capital to make an options market. Automated rollover mechanism. Many derivative platforms have hard expiries of options contracts. Upon expiry, an options market may no longer exist. Divergence’s solution is to automatically roll over options contracts with similar terms after their settlement. This ensures continuity in the options market for LPs. Liquidity providers can save gas since they do not need to remove and add liquidity to make a new market. This feature is uniquely available on Divergence. How does Divergence work Divergence has already released a Testnet version of its marketplace on the Ethereum kovan testnet. The entire user experience is simple and straightforward. To onboard, users simply connect a supported wallet like MetaMask to the Divergence test app. At the moment, Divergence supports two types of binary options. Those include options with a single strike and options with a range strike. These options are tokenized as Spear and Shield tokens on Divergence. Options with a single strike allow users to get paid one collateral if the underlying price settles above or below the single price level. Range strike options pay collateral when the underlying settles within or outside a specific price range. One of Divergence’s main innovations is that binary options are tokenized abstractions within smart contracts. This enables users to save gas fees that would have been incurred if these derivative tokens were ERC-20 tokens. Traders can easily roll over options when they expire without the overhead of creating new pools and spending gas. These innovations improve the overall trading experience and allow users to easily trade DeFi options. What to Expect Divergence has a governance token called DIVER. DIVER holders are able to vote on protocol parameters and receive rewards from staking activities. The protocol recently announced details for its highly-anticipated IDO. On 20 September 2021, it will launch a public sale for 2% of its DIVER tokens on SushiSwap’s MISO launchpad. Participants will be able to become early holders of the DIVER tokens and have the opportunity to claim from a pool of 256 non-fungible DIVΞR tokens. Following the IDO, it is expected that Divergence will create its DIVER liquidity pool on SushiSwap and proceed with additional token listings at other exchange venues. Following its IDO and token listings, Divergence plans to launch its mainnet after auditing completion. With the mainnet launch, traders will have access to decentralized options markets for a larger number of assets, more collateral choices and an upgraded interface.    

The Central Bank of the Republic of Turkey has signed agreements with various firms to form the Digital Turkish Lira Collaboration Platform.