Blockchain Financial News

A team of former Jane Street and PIMCO traders have raised $15 million to produce a proof-of-solvency protocol for centralized exchanges, stablecoin issuers and other asset managers in the crypto space, according to a press release from the team shown to Cointelegraph. Called “Proven,” the new protocol allegedly uses zero-knowledge proofs to reveal an institution’s assets and liabilities without revealing the personal data of customers.

Algorand-based wallets have been hit by security breaches in recent weeks, with MyAlgo and Algodex both experiencing hacks. MyAlgo urged users to withdraw their assets or rekey their funds after a February security breach that resulted in losses of around $9.2 million. In the past week, a targeted attack was carried out against a group of high-profile MyAlgo accounts. The cause of the breach is unknown, and the wallet provider has encouraged users to take precautionary measures to protect their assets. Meanwhile, Algodex revealed that a malicious actor infiltrated a company wallet on March 5, similar to what is happening in the Algorand ecosystem. Algodex moved the bulk of its USD Coin (USDC) and native Algodex (ALGX) tokens to secure locations, but the infiltrated wallet was responsible for providing extra liquidity to the ALGX token. The exchange confirmed that $25,000 in ALGX tokens allocated to provide liquidity rewards were taken, but it would replace this in full. The total loss from the theft was less than $55,000, and Algodex users and the liquidity of ALGX were not affected.

Lido, which is currently one of the largest DeFI ecosystems in the crypto-space, expanded its ecosystem to Polkadot in the latter half of 2021. This expansion of Lido onto the Polkadot ecosystem was led by a blockchain auditing firm known as MixBytes.

Despite a series of high-profile moves by the Securities and Exchange Commission as it seeks to reign in the US Crypto Industry, a new digital asset fund venture could reignite market growth.

Chainlink’s native token LINK has achieved some relief from the downside since the start of 2023. But just how much potential upside should LINK holders expect as far as a sizable recovery is concerned?

Blockchain technology offers a playground for software and decentralized application (DApp) development. Decentralized applications come with multiple perks, most notably the autonomous operation for which intermediaries are no longer needed. In this growing sector, the number of DApps is constantly increasing, but do these platforms truly serve everyday users? If not, how can the development of DApps and use cases reach their untapped potential?

Sandbox participants included the Banque de France, the Deutsche Bundesbank, the Monetary Authority of Singapore, BNP Paribas, HSBC, Intesa Sanpaolo, NatWest, Royal Bank of Canada, SMBC, Société Générale, Standard Chartered and UBS.Tom Zschach, chief innovation officer at Swift, comments: “Our experiments have shown the critical role that Swift can play in a financial ecosystem in which digital and traditional currencies co-exist. Our API-based CBDC connector has been proven to be robust across almost 5,000 transactions between two different blockchain networks and traditional fiat currency, and we’re delighted to have the support of our community in developing it further.

The Internet Computer’s native cryptocurrency ICP is certainly one to watch given the discount it has received in the last few weeks. Moreover, it is now approaching a key support level and there are signs of a potential pivot in the works.

The unending Ripple [XRP] tussle with the SEC might end in another legal proceeding, according to Scott Chamberlain. The blockchain lawyer and founder of Evernode XRPL, stood this ground while responding to a tweet about the ruling on both parties to preclude expert testimonies.

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

Disclaimer: The text below is an advertorial article that is not part of  Cryptonews.com  editorial content.

DeFi lending protocol Compound Finance is in the news after it announced finally deploying its third version to Polygon. Contextually, Compound III is a streamlined version of the main Compound protocol. Here, the former allows the efficient supply of assets and borrowing of stablecoins against various collaterals.

Women have been part of the crypto space since its genesis, developing projects, communities and brands, as well as tackling many trenches that this emerging industry demands.

Blockchain technology is like a Swiss Army knife that can provide different solutions depending on the problem. Over the past decade, the use cases for blockchain technology have grown from money and payments to decentralized exchanges and nonfungible tokens. Right now, it looks like the next major blockchain use case will be tokenized stocks.

The world of Web3 has opened up new opportunities for individuals to participate in a more open and transparent internet, and to create wealth. However, despite the potential benefits of this emerging technology, women face unique challenges in the Web3 space. From the lack of diversity in the industry to the gender bias in funding, women encounter significant obstacles that make it difficult for them to thrive in the decentralized web.

Love Hate Inu has launched the presale for its native LHINU token today, with the exciting new polling platform aiming to raise just over $10 million within the next couple of months. 

Tokyo, March 8th, 2023 –  Blockchain innovation hub Astar Network has partnered with Shibuya, the Tokyo ward famed for its commerce and finance. The agreement will see Astar support Shibuya’s new Web3 initiative and host events that support this strategy.

Following a humiliating defeat at the gloves of Tommy Fury, Jake Paul has announced the launch of a new sports betting platform called Betr. This comes as many professional fighters are looking to expand their business ventures into the world of online sports.

Cryptocurrency platforms of all types have been increasing in number considerably, thanks to the growing popularity of the blockchain industry. One such entity is Quantum Flash, which is a crypto trading platform that allows multi-asset trading for users 24/7.

According to a Mar. 7 announcement from the University of California San Diego (UCSD), the post-secondary institution has received a 15 million USD Coin (USDC) donation from the Balvi Filantropic Fund. The foundation is currently directed by Ethereum (ETH) co-founder Vitalik Buterin and "is a scientific investment and direct gifting fund for deploying quickly to high-value COVID projects that traditional institutional or commercial funding sources tend to overlook." As told by UCSD, the donation is the largest gift of its kind to a U.S. university and will be used to establish the Meta-Institute for Airborne Disease in a Changing Climate, "The Airborne Institute."