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2024-04-24

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The Central Bank of Nigeria expressed that the local CBDC, the eNaira, is not a threat to the nation’s financial stability. NFTs have grown in popularity in the art, entertainment, and gaming industries. Gamers may now own and trade in-game objects, characters, and skins as NFTs, giving them actual ownership as well as the ability to transfer these assets across games and platforms. This interoperability is critical in the metaverse, because digital assets must be portable and useable in a variety of virtual contexts. How to Buy Dogecoin in New ZealandThere is a key bearish trend line forming with resistance near $1,610 on the hourly chart of ETH/USD (data feed via Kraken). “This industry recognized Arm PSA certification establishes a solid security foundation for bringing smart devices to Web3 in a trustworthy manner, further revolutionizing the decentralized IoT industry and giving IoTeX a bigger lead within the Decentralized Physical Infrastructure Networks (DePIN),” Fan said. “It will also significantly challenge the corporations currently monopolizing the industry, such as Amazon, Google and Microsoft, to mention a few.”Lido faces skepticism for Arbitrum grant request

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Read more: Jeff Wilser - Is Crypto-AI Really a Match Made in Heaven? A breakout above the triangle pattern could kick-start a new recovery The Best Australian Crypto ExchangesSee similar article: Silver Lining? Google Cloud’s head of Web3 talks Big Tech possibilities for the blockchainEnlisting AI in Medicine and Longevity Research Will Be a ‘Net Positive’: Microsoft VP The $1.9 trillion stimulus package included $1,400 direct payments to citizens and provided crucial support to local authorities and businesses.

The second week of the criminal trial for former FTX exchange CEO Sam “SBF” Bankman-Fried continues on Oct. 10, with all eyes on the testimony from key witness Caroline Ellison. Ellison is a former romantic partner of SBF and the former CEO of the FTX-affiliated hedge fund Alameda Research, which also filed for Chapter 11 bankruptcy in November 2022. The former Alameda CEO had lived with Bankman-Fried, along with other FTX executives, in the Bahamas for a period of time. Given Ellison’s former positions, she was a part of Bankman-Fried’s inner circle. In her testimony, prosecutors and the presiding judge over the case, Lewis Kaplan, expect her to provide details regarding the shuffling of customer funds between FTX and Alameda Research. The main focus of the trial thus far has been the alleged fraudulent use of customer funds to repay FTX debtors. Particularly anticipated will be Ellison’s commentary on a meeting in November 2022, during which she admitted to employees of Alameda that Bankman-Fried had given her the go-ahead to use funds for the purposes mentioned above. Related: FTX used Python code to fake its insurance fund figure — Gary WangIn December 2022, Ellison and former FTX chief technology officer Gary Wang pleaded guilty to their alleged roles in the fraud that led to the collapse of the exchange. Shortly after both pleaded guilty, on Dec. 22, they were hit with additional fraud charges by the United States Securities and Exchange Commission (SEC) and the Commodities Futures Trading Commission (CFTC). The SEC alleged that Ellison furthered the fraud scheme by manipulating the FTX Token (FTT) price.Ellison then agreed to a plea deal with the Office of the U.S. Attorney for the Southern District of New York, which meant full disclosure of information and documents demanded by prosecutors during the trial. In exchange, Ellison was able to evade all major charges against her, including a potential 110-year prison sentence. Shortly after, she revealed that she had been aware of FTX customer funds being used, saying that Alameda had access to a “borrowing facility” through FTX from 2019 to 2022.The U.S. Department of Justice said that Ellison’s personal memos, which include diary entries, will most likely be used as evidence against Bankman-Fried. SBF faces charges of seven counts of conspiracy and fraud tied to the collapse of FTX, to which he has pleaded not guilty.Cointelegraph reporters are on the ground in New York covering the trial. As the saga unfolds, check here for the latest updates.Magazine: SBF trial underway, Mashinsky trial set, Binance’s market share shrinks: Hodler’s Digest, Oct. 1–7War, CPI and $28K BTC price — 5 things to know in Bitcoin this week Furthermore, blockchain protocols emphasize anonymity as a means to deter money laundering and safeguard players’ financial information. With these measures in place, players can enjoy their gaming experience with peace of mind, knowing their identity and finances are protected. BitOasis Review-Exchange In Dubai & UAE (Buy Crypto ...The data further showed that South Korea saw the trading of 622 types of cryptocurrencies in the first half of the year, including popular options like Bitcoin, Ethereum, Ripple, and Dogecoin. Litecoin Price Prediction as LTC Spikes Up 2.9% – Here are Key Levels to Watch

Source: Sam Cooling x XreschAbracadabra Finance has put forth a proposal aimed to adjust interest rates to mitigate the risk of bad debt resulting from an $18 million loan to Curve Finance founder Michael Egarov. The proposal suggests hiking interest rates on the loan to 200% on two specific pools known as "cauldrons," which consist of CRV tokens belonging to Michael Egarov. The current interest rate on Egarov's $18 million loan is 18%, but the proposed protocol aims to raise it to a whopping 200%, effectively squeezing Egarov out of his position. By doing so, Abracadabra hopes to limit its exposure to CRV tokens to only $5 million.The proposed interest rate hike is not a sudden increase in rates, but rather a gradual decrease that starts at 200% and decreases as the loan is repaid through the automatic sale of CRV tokens. Developers anticipate that this strategy will result in the loan being fully repaid within six months, with all proceeds going to the Abracabadra treasury. "The effect of collateral-based interest is such that all interest will be charged directly on the cauldron’s collateral and will immediately move into the protocol’s treasury to increase the reserve factor of the DAO," the proposal reads."We believe this solution will reduce negative externalities associated with such positions compared to a simple interest rate hike"Big Whale Opposes Abracadabra Finance's Proposal It is worth noting that the proposal initially gained substantial support from the Abracadabra community.As of Wednesday at 13:00 UTC, a majority 99% of votes were cast in favor of the prposal. However, the poll has since changed course after a big whale voted against the plan. Earlier today, whale masterofdisaster.eth cast 10 billion SPELL tokens against the proposal.As of now, a majority 72% of votes are against the proposal, with another 27% supporting the change.Abracadabra community member known as "0xthespaniard" had previously voiced concerns about the risks associated with such a large loan.In a June post, the user acknowledged that the 18% interest rate contributes significantly to the protocol's profitability, but also highlighted the platform's asymmetric downside risk. At the time, they said that a liquidation event could prove fatal for the Abracadabra protocol due to the anticipated price impact on Curve's decentralized exchange.As reported, Curve Finance, a major player in the stablecoin swapping landscape, recently experienced a security incident that led to the loss of more than $100 million worth of crypto assets. The exploit also resulted in a decline in the price of CRV tokens, putting a $168 million holding belonging to founder Michael Egorov at risk of being liquidated. Crypto Billionaire Arthur Hayes' Vision: AI DAOs to Become Invincible, Driving DeFi's Supremacy over TradFi Bitcoin peaked at its all-time high in 2021 following the COVID-19 stimulus package by the U.S. government. Best cryptocurrency to invest today for short-termSpatial Arbitrage Source: PexelsMove-to-Earn fitness platform Sweat Economy has proposed a governance vote to reassign over 2 billion abandoned SWEAT tokens. The protocol had assigned billions of SWEAT tokens to users who signed up during its token generation event (TGE).According to a recent blog post, several users never downloaded the Sweat Wallet app, leaving about 2.5 billion SWEAT tokens (13% of the total token supply) idle or abandoned.Community To Decide the Fate of Idle SWEAT TokensSweat Economy is a health and fitness platform that encourages users to keep fit, letting them earn SWEAT tokens while performing physical activities. Users can convert the SWEAT tokens into other cryptocurrencies or use them to purchase items.According to a recent blog post, Sweat Economy seeks the community's opinion after over a year of fruitless effort contacting the owners of the idle SWEAT tokens. According to the project, its community ideally has no recourse for recovering these abandoned tokens.However, the project placed 90% of the tokens at TGE in a lockup contract that automatically unlocks them over 24 months. The Sweat Foundation holds the keys to the lockup contract, providing an opportunity to reassign the abandoned tokens.Therefore, the project has proposed a two-step approach to recover and reallocate the "idle" tokens. The first part of the approach includes an in-app vote, allowing the Seat Foundation to retrieve the locked, idle SWEAT tokens and transfer them to a treasury wallet.The unlocked tokens will remain in the foundation's treasury until the issuance of a future proposal outlining its reallocation plans. According to the blog post, potential reallocation plans could include burning a percentage of the tokens or using them to fund operational costs or support future product launches.Notably, the tokens will remain untouched in the treasury wallet until the foundation completes a second proposal detailing its reallocation plans, which will not take the course unless the community approves.The Voting RulesAccording to the blog post, the action will not affect Sweat Wallet users but only unlock idle tokens which have remained dormant since the TGE.The foundation noted that 2.5 billion SWEAT token reallocation would affect users who opted in to “Opt into Sweat” but never downloaded the wallet app and did not respond to various attempts to contact them.The timeline for claiming tokens will be immediately after the in-app vote. The team requires a minimum of 75,000 votes to accept or deny the proposal.The voting will last seven days with a three-day extension, depending on the initial outcome. And each person is entitled to one vote with a fee of 0.1 SWEAT token per vote.Crypto Billionaires Lose Big Amid SEC's 2023 Crackdown on Binance and Coinbase

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