Blockchain Financial News

Snowtrace.io, a popular blockchain explorer tool for Avalanche (AVAX), will shut down its website, powered by Etherscan's Explorer-as-a-Service (EaaS) toolkit, on November 30. The Snowtrace team clarified that only its explorer powered by Etherscan will be shut down.

Thailand’s second-largest bank, signaling bullish fervor for blockchain after buying out one of the region’s local crypto exchanges through one of its subsidiaries.

Zero knowledge-proof (ZK-proof) scalability solutions have grown in prominence in the crypto ecosystem in recent years, making way for several ZK-focused conferences and events. A marquee ZK conference dedicated to the growing community will take place on Nov. 13 in Istanbul, Turkey. ZkDay is hosted by zero knowledge layer-1 platform, the Manta Network, Polychain Capital, nil; Foundation and Cointelegraph.

Lido Finance, a decentralized liquid staking protocol, has decided to cease its operations on the Solana blockchain post a unanimous community verdict. This decision came into light on October 16, 2023, after an extensive dialogue and subsequent community voting within the Lido’s decentralized autonomous organization (DAO).

Recent market activities indicate a significant movement of LOOM tokens associated with Upbit, a well-known digital asset exchange. Over the past 48 hours, Upbit has escalated the frequency of depositing LOOM to other exchanges, Binance and Bithumb, summing up to over 120 transactions. This movement, involving approximately 19 million LOOM tokens (valued around $6.76 million), coincides with a 35% dip in LOOM's price within the same timeframe, according to Scopescan​.

The United Kingdom has released proposals for a stablecoin framework alongside wider industry regulations in a bid to position the country as an investment destination and to protect users.

Kasikorn Bank, also known as K-Bank, spent $102m to acquite its stake in the Satang crypto exchange, which will now be rebranded as Orbix.

Stablecoins are essential to cryptocurrency markets, and traditional payment systems, especially cross-border ones, can also benefit from them. Edelcoin sets a new standard for stablecoins, offering low volatility, inflation protection, and zero reserve investment risk. Its verified reserves are 100% locked and secured for EDLC holders only.

One of the leading causes of loss of crypto assets is the download of fake wallet applications from search engines.

Thailand’s second-largest bank, Kasikorn Bank, widely known as K-Bank, has acquired a 97% stake in the parent company of the established Satang crypto exchange.

At least 25 people have reportedly seen $4.4 million in crypto drained from across 80 wallets due to a 2022 data breach that impacted password storage software LastPass.

Disclaimer: The text below is a press release that is not part of  Cryptonews.com  editorial content.

The Solana Foundation is offering a monetary reward of $400,000 to anyone who can identify a code that could potentially halt the Solana network, as revealed by Jacob Creech, Head of Developer Relations at Solana. The announcement came through Creech's Twitter post on 13th October 2023. The bounty is part of Solana's bug bounty program aimed at discovering and rectifying critical vulnerabilities to ensure the network's robustness and security.

Tether, the preeminent stablecoin firm globally, has once again exemplified its resolve against illicit financial activities by freezing 32 cryptocurrency addresses, implicated in terrorism and warfare funding within Israel and Ukraine. The move showcases the intensifying collaboration between cryptocurrency establishments and global law enforcement to counteract the rising tide of digital-financed crime.

OKX Ventures, the venture capital subsidiary of notable cryptocurrency exchange and Web3 technology firm OKX, declared its involvement in the Series B funding phase of Celestia Lab today. Celestia stands as the pioneering modular blockchain network which allows developers to utilize its platform as a foundational layer for consensus and data processes. Post this, developers have the liberty to select a virtual machine, such as Ethereum, Solana, or zero-knowledge roll-ups among other compatible smart contract execution layers, to create and launch their distinct blockchain networks. This notion diverges from the earlier blockchain infrastructure generations where Layer-1 chains were responsible for consensus, data operations, and execution collectively, a setup referred to as 'monolithic' by Celestia.

On October 15, 2023, the Solana Foundation announced a significant partnership with the Dubai Multi Commodities Centre (DMCC) Crypto Centre, aiming to bolster the Web3 sector in Dubai—a recognized global hub for cryptocurrency and blockchain innovations. This alliance is expected to foster a conducive environment for member companies and developers at the DMCC Crypto Centre, enabling them to expand their projects both technically and business-wise.

Crypto market charts can make traders feel exhausted just by looking at them, and chances are high that this contributed to the prolonged bear season. After experiencing historic lows for well over a year, both first-timers and experienced traders are looking for ways to stay afloat in the crypto market, and it might feel like a never-ending grind.

The Sui Foundation has announced a further allocation of 40 million SUI tokens towards its ecosystem and community development, as revealed in a tweet by Sui Network on 14th October 2023. This allocation comes in addition to the 117 million SUI reallocated in the preceding week, totaling 157 million SUI dedicated to fueling the growth of the budding Sui ecosystem.

The UAE’s Minister of State for Artificial Intelligence, Digital Economy, and Remote Work Applications Office has published a whitepaper on a «Responsible Metaverse Self-Governance Framework» with contributions from OKX, a notable player in the Web3 technology domain. This initiative is an answer to the burgeoning influence of the metaverse across diverse sectors and the consequential demand for a standardized operational paradigm.

A Web3-powered streaming platform, Replay vows to transform the entertainment industry — empowering viewers and creators alike. It allows audiences to be rewarded for their attention, all while unlocking new revenue streams for talented individuals behind the camera.

US regulators are finally discussing the subject of fiat-backed digital assets, popularly known as stablecoins.