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DeFiChain’s DFI Token Starts Trading on the Gate.io Exchange
Singapore, Singapore, 26th September, 2022, Chainwire DeFiChain, the world’s leading blockchain on the Bitcoin network dedicated to bringing decentralized financial applications and services to everyone, today announces the listing of its DFI token on Gate.io, one of the world’s leading cryptocurrency exchanges. This is a major step in DeFiChain’s mission to make DFI accessible to investors worldwide. Gate.io is one of the world’s biggest exchanges and supports the most cryptocurrencies of any exchange. The DFI token (ERC-20 version) will start trading on Gate.io at 10am UTC on September 26th. Initially, it will trade against USDT, though Gate.io could bring a DFI-BTC pair as well in the near future. The native version of DFI will become available on the platform in late October. Buying th...
GBP follows euro: The pound-dollar rate hits all-time low
The Great British pound sterling has fallen to the lowest level ever against the United States dollar. In a flurry of overnight trading activity, the pound reached lows of 1 pound = $1.04. It lost 5% of its value in a spiral. The United Kingdom’s sovereign currency, the pound sterling, is the world’s oldest currency that is still in use today. It is currently clinging above USD-pound parity, since regaining $.03 cents, bouncing to 1 pound = $1.07. Source: Google The pound has been on a steady decline against the USD since 2007 and the subsequent financial crisis. While it has lost 20% of its value this year, it has lost half of its value against the dollar over the past 20 years. Deputy Leader for the Labour Party, the government’s opposition party, was quick to compare the pou...
Charles Hoskinson and ETH dev get into a war of words post-Vasil upgrade
Charles Hoskinson, the founder of Cardano and co-founder of Ethereum blockchain, got into a war of words with Ethereum developers on the implementation of proof-of-stake (PoS) consensus via Merge. On Sunday, Web3 investor Evan Van Ness shared an unpopular opinion claiming that the Ethereum Merge could have been shipped earlier. Vitalik Buterin, the co-founder of Ethereum, agreed to Van Ness’s comments and said they should have implemented NXT-like chain-based PoS. Hoskinson joined in the conversation claiming the Ethereum developers should have implemented snow white protocol instead to ensure a faster migration to proof-of-stake (PoS) consensus. You should have just implemented snow white with Elaine’s help. It would have saved you a heck of a lot of pain and effort. — Charles Hoski...
Binance to burn all LUNC trading fees following community feedback
To support the Terra community’s efforts to revive the Terra LUNA Classic (LUNC) token, crypto exchange Binance announced an off-chain burning mechanism last week. However, after receiving mixed reactions from community members, the exchange revised its burning approach. On Sept. 23, Binance CEO Changpeng Zhao wrote that the exchange will create an optional 1.2% tax when trading LUNC. Zhao added that they will roll out the 1.2% tax for all LUNC trading if traders who opt-in to pay the tax reach 50% of the total LUNC trading volume on the exchange, leaving the decision to users. However, days after the post, Zhao laid out the flaws of their previous plan. Because of this, Binance announced a revised method to support the revival of LUNC. According to Zhao, the exchange will now comple...
3 reasons why USDC stablecoin dropping below $50B market cap is Tether’s gain
The market capitalization of USD Coin (USDC), a stablecoin issued by U.S.-based payment tech firm Circle, has dropped below $50 billion for the first time since January 2022. On the weekly chart, USDC’s market cap, which reflects the number of U.S. dollar-backed tokens in circulation, fell to $49.39 billion on Sep. 26, down almost 12% from its record high of $55.88 billion, established merely three months ago. USDC versus USDT weekly market cap chart. Source: TradingView In contrast, the market cap of Tether (USDT), which risked losing its top stablecoin position to USDC in May, crossed above $68 billion on Sep. 26, albeit still down 17.4% from its record high of $82.33 billion in May 2022. The divergence between USDT and USDC shows investors’ renewed preference...
Former Roblox Head of Music Jonathan Vlassopulos Joins Napster as CEO
Former Roblox vp and global head of music Jonathan Vlassopulos has joined Napster as CEO, the company announced Sunday (Sept. 25). Vlassopulos, who departed Roblox in April after three years, became known for shaping the company’s cutting-edge virtual concert strategy in the early days of the pandemic, with the platform hosting blockbuster virtual shows for artists including Lil Nas X, Tai Verdes, Twenty One Pilots and 24KGoldn. He also navigated Roblox through a rough patch after the company was sued by the National Music Publishers’ Association (NMPA) for copyright infringement in June 2021. The two parties settled the $200 million lawsuit three months later and launched talks for go-forward licensing deals. Vlassopulos joins Napster four months after the company — which began in 1999 as...
Breaking: Interpol ‘Red Notice’ issued for Do Kwon — South Korea prosecutors
Interpol has reportedly issued a “Red Notice” to law enforcement worldwide for the arrest of Terraform Labs co-founder Do Kwon. South Korean prosecutors in Seoul on Monday told Bloomberg the international policing organization issued the notice in response to charges Kwon faces in South Korea related to the collapse of the Terra ecosystem. The news comes only a week after South Korean prosecutors reportedly asked Interpol to issue a “Red Notice” for Kwon on Sept. 19. A Red notice is a “request to law enforcement worldwide to locate and provisionally arrest a person pending extradition, surrender, or similar legal action” according to the Interpol website. It also comes less than two weeks after South Korean authorities issued an arrest warrant for Kwon and five other associates for alleged...
Disney seeks corporate lawyer for ’emerging technologies’ and NFTs
The Walt Disney Company could be on the verge of expanding into the crypto space after posting a new job for an “experienced corporate attorney” to work on “emerging technologies” such as nonfungible tokens (NFTs) and the Metaverse. According to the Sept. 23 listing on the Disney careers website, the company is hiring for a “Principal Counsel — Corporate Transactions, Emerging Technologies & NFTs” to work on transactions involving NFTs, the Metaverse, blockchain, and decentralized finance (DeFi). Specifically the entertainment conglomerate is seeking someone to provide “full product life cycle legal advice and support for global NFT products” and ensure they comply with all current laws and regulations on U.S. soil and internationally. Other duties include “...
‘Grotesquely overpriced’ — Apple’s App Store wants 30% cut on NFT sales
Non-fungible token (NFT) app developers and others have balked at a decision by tech giant Apple to impose a 30% commission on NFTs sold through apps on its marketplace, effectively putting NFT purchases in the same boat as regular in-app purchases. According to a Friday report from The Information, the smartphone company is now allowing NFTs to be bought and sold through apps listed on its marketplace but imposes its standard commission on in-app purchases of 30% — similar to that imposed by Android’s app store Google Play. The commission rate has however been slammed by some for being “grotesquely overpriced” — particularly when compared to standard NFT marketplace commissions, which are around 2.5%. Tech blogger Florian Mueller called Apple’s “app tax” on NFT sales “abusive but consiste...
Reversible transactions could mitigate crypto theft — Researchers
Stanford University researchers have come up with a prototype for “reversible transactions” on Ethereum, arguing it could be a solution to reduce the impact of crypto theft. In a Sept. 25 tweet, Stanford University blockchain researcher Kaili Wang shared a run down of the Ethereum-based reversible token idea, noting that at this stage it is not a finished concept but more of a “proposal to provoke discussion and even better solutions from the blockchain community,” noting: “The major hacks we’ve seen are undeniably thefts with strong evidence. If there was a way to reverse those thefts under such circumstances, our ecosystem would be much safer. Our proposal allows reversals only if approved by a decentralized quorum of judges.” The proposal was put together by blockchain researchers...
Is post-Merge Ethereum PoS a threat to Bitcoin’s dominance?
While Ethereum (ETH) fans are enthusiastic about the successful Merge, Swan Bitcoin CEO Cory Klippsten believes the upgrade will lead Ethereum into a “slow slide to irrelevance and eventual death.” [embedded content] According to Klippsten, the Ethereum community picked the wrong moment for detaching the protocol from its reliance on energy. As many parts of the world are experiencing severe energy shortages, he believed the environmental narrative is taking the back seat. In an exclusive interview with Cointelegraph, Klippsten said “I think the world is just waking up to reality and Ethereum just went way off into Fantasyland at the exact wrong time.” “It is just really bad timing to roll out that narrative. It just looks stupid.” According to some predictions, institutional capital...
The European Union is stifling stablecoin adoption
The digital asset landscape in the European Union is evolving ahead of the passage of the Markets in Crypto-Assets (MiCA) regulation framework that aims to instill regulatory clarity around crypto assets. While well-intentioned, the current structure of MiCA may throttle innovation. But if a revised version of this policy passes, it could see the European Union become one of the leaders in the digital payment space. If not, then there is a genuine possibility of the continent falling behind. MiCA aims to set a regulatory framework for the crypto asset industry within the EU. At this point, much still needs to be codified and clarified, but the broad strokes are now known. Simultaneously, financial technology firm Circle launched a stablecoin called Euro Coin (EUROC). Euro Coin impleme...
