Coinbase Derivatives Exchange Deploys Cloud Infrastructure - cyptoranking.com

2024-05-07

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NFTs or Non Fungible Tokens are a type of cryptographic asset that is created similarly to cryptocurrency. However, unlike other crypto assets, NFTs, are non-fungible, meaning they are one of a kind and cannot be replaced with something else. For example, it is possible to replace or trade a cryptocurrency like Bitcoin, but this is not the case with NFTs due to their unique characteristics. It is because of this that ENS was developed, and its implementation has made the crypto world’s operations far more straightforward. It makes it possible for consumers to engage with material that is readable by machines in the form of straightforward connections that are both shorter and simpler to recall, as well as reduces the risks of loss of funds. Coinbase Derivatives Exchange Deploys Cloud Infrastructure#CertiKSkynetAlert 🚨We are seeing an exit scam on @zkFlexFinanceETH:0x54855D3133669B7EF54A2c962F5f63fdb44bBaE9Which has dropped 100%The project's socials and sites have been deleted.0x84f90 has dumped tokens for a profit of ~$56kStay vigilant!https://t.co/m7xQb6DQO6 Meanwhile, the defense's use of cross-examination to confirm facts and details of the prosecution's witnesses' testimony has drawn criticism from Judge Lewis Kaplan, who believes it is an inappropriate use of court time.

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In addition to the aforementioned layoffs, Sweeney said another 250 employees would also be leaving Epic Games, as the company announced it would be selling the recently-acquired music website Bandcamp and spinning off its marketing company SuperAwesome, a child-safety tech firm that joined Epic in 2020. — Laura Shin (@laurashin) October 9, 2023 Why can i not buy cryptocurrency on Robinhood?The outcome was to build a “decentralized, but off-chain order book and matching system,” Julio says. Taking the concept of the Ethereum mempool, where transactions wait to be mined, Julio says “what if we had the entire order book not have to be put on-chain?” The list of the top DeFi categories ranked by TVL also included service, yield farming, and real-world assets. Service is ranked number six with a total value locked of $4.2 billion, followed by yield farming with a $3.4 billion TVL. Lastly are real word assets, which CryptoRank described as “the new DeFi trend”, with a TVL of $2.4 billion, an 84.6% increase over the past thirty days.

Ardana’s rise and fallArdana was first announced in the summer of 2021, and by October 2021, it had raised $10 million from venture capital firms CFund, Three Arrows Capital (3AC) and Ascensive Assets. Thanks to its successful fundraise and the prominence of its backers, some investors came to believe that Ardana’s upcoming token, DANA, would deliver outsized market gains.The following month, Ardana announced that it was also partnering with Near Protocol to create an asset bridge between Cardano and Near.However, no Ardana stablecoin platform or bridge was ever launched, and the protocol closed down in November 2022 without a functioning product. The development team stated that the closure was due to “funding and project timeline uncertainty.” The closure happened amid the collapse of FTX, which had made it difficult for many projects to raise funds. One of Ardana’s backers, 3AC, had also gone bankrupt a few months earlier. Given this background, many didn’t question the official story.However, blockchain data and analysis by Xerberus show that Ardana’s failure may have had less to do with a lack of funding and more to do with risky asset management practices by Ardana Labs’ officers. A trail of questionable money Xerberus co-founders Simon Peters and Noah Detwiler told Cointelegraph they identified the Ethereum wallet Ardana Labs used to collect funds from the DANA initial coin offering (ICO) in November 2021. They stated that links to the address were included in the ICO platform Tokensoft’s web pages relating to the token. In addition, they claim to have identified a $1 million transaction from 3AC into this address at a time when 3AC had announced its Ardana investment.According to blockchain data, the first transaction to this account occurred on Sept. 2, 2021, when approximately 0.46 Ether (ETH) ($1,747 at the time) was sent into it. This was approximately two weeks after the Aug. 15 start date for the first round of Ardana fundraising. Beginning on Sept. 15, the account received multiple USD Coin (USDC) transfers that eventually added up to millions of dollars worth of stablecoins.Caption: USDC transfers into alleged Ardana fundraising wallet. Source: Etherscan.Once the funds were raised, they were moved into other wallets through a series of intermediate steps, Xerberus claims.As told by Peters and Detwiler, approximately $3.2 million worth of stablecoins was moved from the fundraiser wallet to a “Target Wallet” through two intermediate addresses. This amount is approximately 30% of the total funds raised. First, the fundraiser account sent the funds to what they refer to as “Proxy Wallet 1.”Diagram of Ardana fund flows. Source: XerberusAfter receiving the funds, Proxy Wallet 1 swapped all of the stablecoins for CVX, a utility token used to receive fees from the Convex Finance platform. Blockchain data shows that decentralized exchange (DEX) SushiSwap was used to make this swap.From there, the funds were sent to what the Xerberus founders claim is an old personal wallet (“Old Address”) of Ardana founder Motovu. According to them, Motovu declared that he made money in the previous bull market of 2017. They found that “between $200,000 and $400,000” was in this wallet before the Ardana ICO, but the bulk of the funds it later held were from Ardana.“When this project went under and when it failed, [Motovu] went onto a live Space and said, ‘A lot of my personal money that I had earned over the previous bull market in 2017’ […] is the money he made out of this old wallet,” Detwiler explained. “It sums up to something around $200,000 to $400,000, nothing more.”Blockchain data shows that approximately four minutes after the CVX tokens were sent to the Old Address, it transferred them to the Target Wallet. It is this wallet that they claim was used to purchase a variety of cryptocurrencies, ultimately causing Ardana’s funds to be lost in bad investments.CeFi exchanges join the trailIn addition to the amount moved on-chain to the Target Wallet, another $4 million was sent through centralized exchanges first, then transferred to the Target Wallet, according to the Xerberus co-founders.They claim to have identified the Kraken, Coinbase and Gate.io deposit addresses used by the Ardana team. To find these, they looked for addresses that received funds from the fundraising wallet and sent funds to a known exchange address. For example, one address in particular received funds from the fundraising wallet and only sent funds to the Coinbase 6 and Coinbase: Miscellaneous wallet addresses.Once funds were sent to a centralized exchange, determining what happened to them became more difficult. However, the team used a variety of techniques to determine with a degree of certainty where the funds went.In some cases, the team was able to identify funds that were sent to Kraken and then immediately sent out to another address, as Kraken often uses the same address to send and receive funds for each user, especially if the time between transactions is short. In other cases, Kraken sent the deposited funds to another of its wallets, making it no longer obvious what the user did with the funds. Deposits sent to Coinbase and Gate.io are always sent to other wallets and pooled with other users’ tokens. So, with transactions involving these exchanges, the team could not determine what happened as easily.However, they analyzed all outgoing transactions made by each exchange within an hour of the fundraising wallet depositing to it. They found that many outgoing transactions were for the exact same amount as the deposits. For example, the fundraising wallet would deposit $220,000 worth of Tether (USDT) to Gate.io. Then, 40 minutes later, the exchange would send exactly $220,000 in USDT out to a different wallet. Ultimately, much of these funds ended up in the Target Wallet, providing what Xerberus sees as solid evidence that the same user made the outgoing transactions.Peters and Detwiler cautioned that this process does not prove with certainty that the transactions were made by Motovu or a member of the Ardana team. “This is not a UTXO [unspent transaction output] trail or a ledger trail. This is not a blockchain exact trail. […] However, the time frames and amounts do correlate with each other,” Detwiler stated. According to them, a total of $4 million was sent to the Target Wallet through these methods, bringing the total amount of funds sent into it to $7.2 million.Some funds remain, while some were spent on developmentResearch conducted by the Xerberus team shows that approximately $1.82 million worth of Ardana’s funds were spent on development costs associated with the project, including team member’s salaries. They contacted a person they referred to as “the main contractor for the project,” who gave Xerberus their wallet address. This address showed payments totaling $1.82 million, which is approximately 20% of the funds raised.In addition, they claim that approximately $1.4 million worth of USDC has not been lost and still remains in the possession of the project in a wallet they refer to as the “Treasure Chest” account. This account’s first transaction was an incoming transfer of 0.3 ETH, worth $562.29 at the time, which was sent to it from the Target Wallet.Related: Multichain victims search for answers in $1.5B exploit as new evidence emergesNearly $4 million lost in bad tradesAccording to Xerberus’ Sept. 6 report on Ardana, nearly $4 million of the Target Wallet’s token balance was lost through bad trades. The wallet owner transferred most of the funds to two Safe (formerly Gnosis Safe) multisignature accounts. These funds were used to make trades on DEXs PancakeSwap, Uniswap, SushiSwap and GMX, resulting in near-total losses. The Target Wallet also made its own losing trades.Blockchain data shows that the Target Wallet made over 1,000 transactions, most of which were interactions with DEX contracts.Transactions of the account identified as “target wallet” by Xerberus. Source: Etherscan.Ardana’s liquidation and closureXerberus claims that the on-chain behavior of the Ardana team began to change in March 2022, when the team’s wallets began “dumping” their assets onto DEXs. They continued to sell all remaining assets until November 2022, at which point the project officially announced it was closing. The funds obtained from these sales still remain in the treasury wallet.The firm says it created an early warning system that can help alert investors when a project is engaging in risky behavior that may lead to a closure. Xerberus calls this “Blockchain Native Risk Ratings based on verifiable mathematics,” and it says investigations like the Ardana one are used to “fine-tune” its risk model, which it expects to “transform crypto markets, making them the safe alternative to traditional financial markets.”Cointelegraph attempted to contact Ardana’s Motovu through LinkedIn, hoping to receive his side of the story. A reply was not received within the two weeks leading up to publication.Many Ardana investors were firm believers in the Cardano ecosystem. They expected Ardana to be the project that would finally get Cardano the attention they felt it deserved. Instead, over $10 million in capital was sucked out of the Cardano community, with virtually nothing left to show for it in the end.The Ardana story is a sober reminder of the risks of investing in new Web3 startups with no functioning product. Although these projects can lead to outsized gains, they can also lead to catastrophic losses. Investors may want to take a close look at a project’s on-chain behavior when considering whether to invest in these types of projects.Cointelegraph editor Zhiyuan Sun contributed to this story. Related: Binance’s indecision to freeze wallets drew controversy in this $11M rug pull That thread is one of the most midcurve things I have read. They make many assumptions off unrelated events without facts. FixedFloat does tons in volume and same with the other exchanges mentioned. Here is the source address of the April 2023 FixedFloat insider PEPE buys I… https://t.co/0kG2M7DNVi Cryptocurrency Tax Australia: The Complete GuideAXS Token’s Features: Alfred said:

Paris, France — Last week at the Sandbox HQ, the Eyes of Fashion NFT community celebrated the launch of "Love in Paris," a captivating addition to The Sandbox's gaming universe. This fusion of gaming and fashion marks a significant milestone for both industries, offering a glimpse into the exciting potential of virtual worlds and NFTs. — Eda Aguilar, Founder & CEO of Eyes of Fashion, shared her enthusiasm for this innovative venture, stating, "The Eyes of Fashion IP continues its journey by entering the gaming world within The Sandbox, following its foray into both physical and digital fashion products." "The game 'Love in Paris' aligns perfectly with our mission and identity. Now, our holders can embark on an enjoyable adventure exploring the city of Paris and even better with their children," added Eda. The event brought together The Sandbox, Eyes of Fashion, Interactive Studio, and BNV to showcase not only the game "Love in Paris" but also digital fashion wearables and various fashion and art experiences within The Sandbox ecosystem. Gaming and fashion, once considered separate realms, have increasingly intertwined in recent years. With the evolution of gaming, especially in the domain of massively multiplayer online games and virtual reality, the significance of avatars and their appearances has surged. Players now seek unique and fashionable outfits, accessories, and styles for their digital personas, blurring the lines between virtual and real-world fashion. Leading fashion brands have also recognized this intersection's potential, collaborating with game developers to introduce limited-edition virtual clothing and even hosting virtual fashion shows within gaming environments. This convergence not only underscores gaming's growing cultural influence but also showcases the fashion industry's adaptability as it embraces new platforms to connect with a broader and more diverse audience. Eyes of Fashion, a collection of 8,888 unique fashion illustrations by artist Talia Zoref, draws inspiration from the vibrant and creative fashion world while addressing the industry's critical eye. Their mission is to bridge the gap between Web2 and Web3, fostering greater inclusion in the fashion world, empowering women artists, and advancing women's education. The event at the Sandbox HQ highlights the evolving landscape of both gaming and fashion, demonstrating the potential of NFTs and virtual worlds to bring these industries closer than ever before. As gaming and fashion continue to converge, "Love in Paris" represents just the beginning of a thrilling journey into the metaverse, where the boundaries between physical and digital worlds blur, and creativity knows no bounds.Partnership Announcement: TRU Band Room Joins Forces with SpottieLand in Decentraland The Storj (STORJ) project is one that aims to provide cleaner storage services, allowing organizations to cut down their carbon footprint as well as reduce their cloud storage costs. But this under-the-radar altcoin has made it into the list. The analyst points to “High Transaction Volume, Active Addresses, Network Growth, Whale Accumulation, Age Destroyed (Consumed)” as shown in the chart. Is Altcoin decentralized?If you would like to learn more about how mining works, check out our article explaining Proof-of-Work consensus.Iris Energy Acquires 7,000 Bitmain S21 Miners To Increase Self-Mining Capacity Macroeconomist and financial cycles analyst @HenrikZeberg published a long-term chart of BTC/SPX on X. He showed how periods of strong uptrends on SPX overlapped with BTC bull markets.

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