📈REN price jumped 50% after Binance acquisition rumors
Rumors that Binance wants to acquire the Ren multi-chain protocol led to the native REN protocol token rising 50% from $0.10 to $0.15.
REN received quarterly funding from Alameda Research from early 2021 until Alameda filed for bankruptcy earlier this year.
The failure of Alameda left it with insufficient funds to continue operations beyond the fourth quarter of 2022.
At the moment, the price of REN has already rolled back a little to $0.12.
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Rumors that Binance wants to acquire the Ren multi-chain protocol led to the native REN protocol token rising 50% from $0.10 to $0.15.
REN received quarterly funding from Alameda Research from early 2021 until Alameda filed for bankruptcy earlier this year.
The failure of Alameda left it with insufficient funds to continue operations beyond the fourth quarter of 2022.
At the moment, the price of REN has already rolled back a little to $0.12.
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📊179,000 bitcoins have been withdrawn from exchanges in the last 30 days
According to Glassnode (https://twitter.com/DylanLeClair_/status/1596345377154007041) , Bitcoin exchange churn has hit an all-time high (ATH). In total, 179,250 bitcoins have left crypto exchanges over the past 30 days.
According to reports, BTC is leaking from exchanges at a rate of over 172,000 per month. This surpassed the previous high set after the June 2022 sell-off.
Glassnode also reported that the number of wallets holding more than 1 BTC has reached 951,823, the new ATH.
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According to Glassnode (https://twitter.com/DylanLeClair_/status/1596345377154007041) , Bitcoin exchange churn has hit an all-time high (ATH). In total, 179,250 bitcoins have left crypto exchanges over the past 30 days.
According to reports, BTC is leaking from exchanges at a rate of over 172,000 per month. This surpassed the previous high set after the June 2022 sell-off.
Glassnode also reported that the number of wallets holding more than 1 BTC has reached 951,823, the new ATH.
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⚖️The entire DeFi industry is dominated by just two applications
The first place is occupied by the largest decentralized platform DAO Maker. However, the TVL of the protocol did not reach such a high number only because of the decentralized stablecoin. More than 400 apps and services have integrated the decentralized stablecoin, which is the main reason behind the massive $6.63 billion TVL.
The second place in the DeFi market is occupied by the Lido Finance protocol. Lido Finance allows users to increase the liquidity of their assets by exchanging cryptocurrencies such as ETH for stETH tokens. Since the lock-up period for Ethereum remains undisclosed, investors are choosing Lido to be able to manage their ETH while it remains staked.
Despite the dominance of the aforementioned projects in the market, they can hardly be called centralized or dangerous for the stability of the decentralized finance industry.
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The first place is occupied by the largest decentralized platform DAO Maker. However, the TVL of the protocol did not reach such a high number only because of the decentralized stablecoin. More than 400 apps and services have integrated the decentralized stablecoin, which is the main reason behind the massive $6.63 billion TVL.
The second place in the DeFi market is occupied by the Lido Finance protocol. Lido Finance allows users to increase the liquidity of their assets by exchanging cryptocurrencies such as ETH for stETH tokens. Since the lock-up period for Ethereum remains undisclosed, investors are choosing Lido to be able to manage their ETH while it remains staked.
Despite the dominance of the aforementioned projects in the market, they can hardly be called centralized or dangerous for the stability of the decentralized finance industry.
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💰Bankman-Fried gave $1 million to Senate Republicans 15 days before FTX collapsed
12 days before the midterm elections, FTX US, FTX's US subsidiary, donated $1 million to the Super-PAC Senate Leadership Fund, according to a filing with the Federal Election Commission.
The donation was made by West Realm Shires Services Inc, a trademark of FTX US.
FTX US also contributed $750,000 to the Congressional Leadership Fund and $150,000 to the American Patriots PAC. Two PACs supported Republican candidates in the House of Representatives.
He also donated $100,000 to the Alabama Conservative Foundation.
These donations come amid growing calls for strict regulation of the crypto industry.
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12 days before the midterm elections, FTX US, FTX's US subsidiary, donated $1 million to the Super-PAC Senate Leadership Fund, according to a filing with the Federal Election Commission.
The donation was made by West Realm Shires Services Inc, a trademark of FTX US.
FTX US also contributed $750,000 to the Congressional Leadership Fund and $150,000 to the American Patriots PAC. Two PACs supported Republican candidates in the House of Representatives.
He also donated $100,000 to the Alabama Conservative Foundation.
These donations come amid growing calls for strict regulation of the crypto industry.
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👀📉Some news troubles around Solana: SOL price will be affected ?
According to Solana Compass, 48.6 million SOL are still in possession of the infamous crypto trading firm Alameda Research.
The figure of 48.6 million SOL is not the final known size of the position of the defunct trading firm. Nevertheless, it alone represents 65.1% of all SOL blocked in staking.
The probability that Alameda's Solana tokens blocked in staking will be released in the near future is small. This assumption is justified by the fact that FTX and affiliated structures are in bankruptcy and a liquidation process, and such cases can last up to 10 years.
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According to Solana Compass, 48.6 million SOL are still in possession of the infamous crypto trading firm Alameda Research.
The figure of 48.6 million SOL is not the final known size of the position of the defunct trading firm. Nevertheless, it alone represents 65.1% of all SOL blocked in staking.
The probability that Alameda's Solana tokens blocked in staking will be released in the near future is small. This assumption is justified by the fact that FTX and affiliated structures are in bankruptcy and a liquidation process, and such cases can last up to 10 years.
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💥USDC and Tether: The market capitalization is down more than 20%
With the rate hike cycles initiated by the Fed, more investors moved from sophisticated blockchain-based currencies toward traditional treasury bills that generate a significant profit and remain safer in comparison to any decentralized passive income solution.
After the plummeting of the DeFi industry, the average APR of the yield dropped to 1-2%, while remaining risky, unstable and vulnerable to hackers and scammers. With the increasing key rate, institutional and large retail investors shifted their attention toward treasuries, removing almost 20% of the market capitalization of stables like Tether or USDC.
A large portion of investors moved away from crypto completely, exchanging stablecoins for US dollars, despite the inconvenience and fees they have to pay.
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With the rate hike cycles initiated by the Fed, more investors moved from sophisticated blockchain-based currencies toward traditional treasury bills that generate a significant profit and remain safer in comparison to any decentralized passive income solution.
After the plummeting of the DeFi industry, the average APR of the yield dropped to 1-2%, while remaining risky, unstable and vulnerable to hackers and scammers. With the increasing key rate, institutional and large retail investors shifted their attention toward treasuries, removing almost 20% of the market capitalization of stables like Tether or USDC.
A large portion of investors moved away from crypto completely, exchanging stablecoins for US dollars, despite the inconvenience and fees they have to pay.
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💰SBID (Sell Bitcoin in Dubai) launched the ability to directly sell BTC for cash in Dubai
Now anyone can sell bitcoin (BTC) for cash in Dubai by visiting an office in the city center.
SBID, a reputable OTC cryptocurrency company in Dubai, wants to expand its presence in the city.
You can receive cash in various currencies. SBID allows crypto enthusiasts to sell BTC and receive AED (UAE Dirham), USD (US Dollar), EUR (Euro) and some other currencies.
In SBID, the service can be used not only by local residents, but also by foreigners. Clients must come with a passport/ID card in order to use SBID services.
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Now anyone can sell bitcoin (BTC) for cash in Dubai by visiting an office in the city center.
SBID, a reputable OTC cryptocurrency company in Dubai, wants to expand its presence in the city.
You can receive cash in various currencies. SBID allows crypto enthusiasts to sell BTC and receive AED (UAE Dirham), USD (US Dollar), EUR (Euro) and some other currencies.
In SBID, the service can be used not only by local residents, but also by foreigners. Clients must come with a passport/ID card in order to use SBID services.
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❌👀Crypto Lender BlockFi Filing for Bankruptcy and Conducting Major Layoffs
BlockFi will file for Chapter 11 bankruptcy protection later today, a source at the company tells Decrypt.
The crypto lender is also laying off a large portion of its staff, the source said.
BlockFi, which let users earn yield for depositing idle cryptocurrencies on the platform, first halted withdrawals on November 11, the same day FTX filed for bankruptcy. “We, like the rest of the world, found out about this situation through Twitter,” BlockFi wrote in a letter at that time. “We are shocked and dismayed by the news regarding FTX and Alameda.”
Nearly a week later, a source at the company told Decrypt that it was considering filing for bankruptcy, given its hefty exposure to FTX.
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BlockFi will file for Chapter 11 bankruptcy protection later today, a source at the company tells Decrypt.
The crypto lender is also laying off a large portion of its staff, the source said.
BlockFi, which let users earn yield for depositing idle cryptocurrencies on the platform, first halted withdrawals on November 11, the same day FTX filed for bankruptcy. “We, like the rest of the world, found out about this situation through Twitter,” BlockFi wrote in a letter at that time. “We are shocked and dismayed by the news regarding FTX and Alameda.”
Nearly a week later, a source at the company told Decrypt that it was considering filing for bankruptcy, given its hefty exposure to FTX.
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💥U.S. crypto exchange Bitfront shuts down
Bitfront, a U.S. crypto exchange backed by Japanese social media firm Line Corp, said it has suspended new sign-ups and credit card payments and will cease operations in a few months despite efforts to overcome challenges in the rapidly evolving industry.
Bitfront said the move is unrelated to recent issues among certain crypto exchanges accused of "misconduct."
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Bitfront, a U.S. crypto exchange backed by Japanese social media firm Line Corp, said it has suspended new sign-ups and credit card payments and will cease operations in a few months despite efforts to overcome challenges in the rapidly evolving industry.
Bitfront said the move is unrelated to recent issues among certain crypto exchanges accused of "misconduct."
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📊Global money supply shows signs of rebounding from the bottom
This pattern previously (in 2015 and 2019) led to a subsequent increase in interest in surveillance and other risky assets 🤠
Correlation between curves and eyewitnesses
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This pattern previously (in 2015 and 2019) led to a subsequent increase in interest in surveillance and other risky assets 🤠
Correlation between curves and eyewitnesses
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📈📈Cardano Celebrates More Than 7 Million Native Tokens Milestone.
Cardano (ADA) failed to take advantage of its recently achieved milestone as the digital asset continues to struggle.
ADA has gone down by almost 3% during the last 24 hours, according to Coingecko.
This is a surprise as the blockchain is celebrating 7 million native assets created on it.
This accomplishment seems irrelevant as ADA does not respond positively regarding spot trading price and market capitalization.
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Cardano (ADA) failed to take advantage of its recently achieved milestone as the digital asset continues to struggle.
ADA has gone down by almost 3% during the last 24 hours, according to Coingecko.
This is a surprise as the blockchain is celebrating 7 million native assets created on it.
This accomplishment seems irrelevant as ADA does not respond positively regarding spot trading price and market capitalization.
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👆Binance Acquires JFSA Registered Sakura Exchange BitCoin, Committed to Enter Japan Under Regulatory Compliance
Through this acquisition, Binance enters the Japanese market, as a Japan Financial Services Agency (JFSA) regulated entity.
The terms of the transaction were not disclosed. By offering Japanese-regulated services through SEBC, Binance aims to support a responsible global environment for cryptocurrencies.
Binance has secured regulatory approvals or authorizations in France, Italy, Spain, Bahrain, Abu Dhabi, Dubai, New Zealand, Kazakhstan, Poland, Lithuania and Cyprus. The acquisition of SEBC marks Binance’s first license in East Asia.
The Tokyo-based exchange currently supports 11 trading pairs: BTC/JPY, ETH/JPY, BCH/JPY, XRP/JPY, LTC/JPY, ETC/JPY, XEM/JPY, MONA/JPY, ADA/JPY, XYM/JPY, and COT/JPY.
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Through this acquisition, Binance enters the Japanese market, as a Japan Financial Services Agency (JFSA) regulated entity.
The terms of the transaction were not disclosed. By offering Japanese-regulated services through SEBC, Binance aims to support a responsible global environment for cryptocurrencies.
Binance has secured regulatory approvals or authorizations in France, Italy, Spain, Bahrain, Abu Dhabi, Dubai, New Zealand, Kazakhstan, Poland, Lithuania and Cyprus. The acquisition of SEBC marks Binance’s first license in East Asia.
The Tokyo-based exchange currently supports 11 trading pairs: BTC/JPY, ETH/JPY, BCH/JPY, XRP/JPY, LTC/JPY, ETC/JPY, XEM/JPY, MONA/JPY, ADA/JPY, XYM/JPY, and COT/JPY.
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👀The road to crypto regulation starts with a string of Senate and House hearings
The US Senate Agriculture Committee will hear the first of several Congressional hearings on crypto tomorrow (Dec. 1). That will be the first of many public probes into what went wrong at FTX
At tomorrow’s session, noscriptd “Why Congress needs to act: Lessons learned from the FTX collapse,” Rostin Behnam, the chair of the Commodity Futures Trading Commission (CFTC), is expected to testify. He will likely outline recommendations for better regulating crypto.
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The US Senate Agriculture Committee will hear the first of several Congressional hearings on crypto tomorrow (Dec. 1). That will be the first of many public probes into what went wrong at FTX
At tomorrow’s session, noscriptd “Why Congress needs to act: Lessons learned from the FTX collapse,” Rostin Behnam, the chair of the Commodity Futures Trading Commission (CFTC), is expected to testify. He will likely outline recommendations for better regulating crypto.
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🔑Blockpass Introduces 1st Unhosted Wallet KYC Solution in the Crypto Sector
Blockpass, the identity verification provider, had announced a new service being launched to help businesses conform to new regulatory standards. With the release of Unhosted Wallet KYC(TM), companies are able to remain compliant with new regulatory laws that are coming into play globally in 2023.
Unhosted or 'non-custodial' wallets are those for which individuals, rather than financial organizations, control the keys.
Blockpass has developed and now released the very first Unhosted Wallet KYC solution, able to be implemented quickly and seamlessly to allow business customers to prove that user withdrawals to unhosted wallets are compliant.
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Blockpass, the identity verification provider, had announced a new service being launched to help businesses conform to new regulatory standards. With the release of Unhosted Wallet KYC(TM), companies are able to remain compliant with new regulatory laws that are coming into play globally in 2023.
Unhosted or 'non-custodial' wallets are those for which individuals, rather than financial organizations, control the keys.
Blockpass has developed and now released the very first Unhosted Wallet KYC solution, able to be implemented quickly and seamlessly to allow business customers to prove that user withdrawals to unhosted wallets are compliant.
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This cycle sees the third largest capitulation of BTC miners (range $20,000 - $16,000)
stronger miners sold coins only in 2011 at BTC $2.10 and in 2015 at BTC $290
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stronger miners sold coins only in 2011 at BTC $2.10 and in 2015 at BTC $290
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⚙️☑️Secret Network Successful Resolved xAPIC Vulnerability.
The Secret Network vulnerability to the xAPIC and MMIO attack was publicly disclosed on August 9, 2022.
These vulnerabilities could be used to extract the consensus seed.
Since then, SCRT Labs has worked directly with Intel and the researchers to identify and build a solution to prevent future vulnerability.
This solution was successfully deployed on November 2, making it invulnerable to future xAPIC attacks.
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The Secret Network vulnerability to the xAPIC and MMIO attack was publicly disclosed on August 9, 2022.
These vulnerabilities could be used to extract the consensus seed.
Since then, SCRT Labs has worked directly with Intel and the researchers to identify and build a solution to prevent future vulnerability.
This solution was successfully deployed on November 2, making it invulnerable to future xAPIC attacks.
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👀Chainlink Staking Launching on December 6
Chainlink Staking v0.1 will goes live on Ethereum mainnet on Dec. 6
The original 12-24 month lock-up period was based on a "conservative release cycle." However, after contacting community members and node operators directly, Chainlink management decided to change the lock-up period to 9-12 months.
The Chainlink staking adds performance guarantees around oracle services with the help of LINK tokens committed by users. On Dec. 6, users will be able to use Chainlink beta with the support of the ETH/USD Data Feed on ETH mainnet.
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Chainlink Staking v0.1 will goes live on Ethereum mainnet on Dec. 6
The original 12-24 month lock-up period was based on a "conservative release cycle." However, after contacting community members and node operators directly, Chainlink management decided to change the lock-up period to 9-12 months.
The Chainlink staking adds performance guarantees around oracle services with the help of LINK tokens committed by users. On Dec. 6, users will be able to use Chainlink beta with the support of the ETH/USD Data Feed on ETH mainnet.
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👂🏻Here are two minutes of Sam Bankman Fried phone interview where he is directly asked how user funds ended up on Alameda... this man is so pathetic
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