What is a Centralized Crypto Exchange (CEX)? - cyptoranking.com

2024-05-02

Popular crypto exchanges(2023 Update) 2024-05-02
Image: cyptoranking.com

Since crossing the $0.00001 mark in August, Shiba Inu’s price performance has been underwhelming. Vital on-chain indicators point toward a potential third consecutive losing month for SHIB holders. The institutionally backed venture capital fund struck a deal a few weeks ago priced in the “mid six figures” with Sotheby’s, the art auction house responsible for selling off 3AC’s NFT portfolio. What is a Centralized Crypto Exchange (CEX)?The publication of the war logs, which was coordinated with The Guardian, The New York Times, and others, caused a spur inside the government. The first indictment brought against Assange focused on an alleged conspiracy between him and Chelsea Manning to crack an account on a computer in her military base. Per the charges, the “primary purpose of the conspiracy was to facilitate Manning’s acquisition and transmission of classified information.” Source: AdobeStock / REDPIXELDecentralized social network Friend.tech has generated over $1 million in fees within just 24 hours of its release, outperforming well-established players like Uniswap and the Bitcoin (BTC) network.According to data from crypto data aggregator DefiLlama, Friend.tech has generated $1.12 million in fees within a single day, and a total of $2.8 million since its inception. As of now, the platform has accumulated $818,620 in total project revenue, facilitating over 650,000 transactions on the social platform with more than 60,000 distinct traders. The driving force behind this project is believed to be a developer operating under the pseudonym Racer. Racer has previously designed social media networks such as TweetDAO and Stealcam, both of which were based on non-fungible tokens (NFTs). With Friend.tech, Racer aims to attract crypto influencers with substantial fan bases, providing them the opportunity to earn royalties from trading fees. Additionally, the platform is also seeking to strengthen relationships between Web3 projects, venture capitalists, and important figures in the crypto industry.Launched as a beta version on August 11, Friend.tech allows users to tokenize their social networks by purchasing and selling "shares" of their connections. This feature enables individuals who acquire someone else's share to communicate privately with each other. Friend.tech applies a 5% fee on transactions, with the owner profiting from the trade spread. The project is built on Coinbase's layer-2 network Base.Friend.tech's Huge Success Sparks ConcernsThe massive success of Friend.tech has sparked discussions about its revenue model, risks, and future potential. Ignas, a pseudonymous DeFi researcher, has pointed out that the platform's current business model relies solely on trading fees and does not consider the number of shareholders involved. Additionally, he raised concerns that controversial personalities might exploit the system to earn higher fees or even use fear, uncertainty, and doubt (FUD) as a strategy. "So controversial personalities might earn more or even creating FUD will be used as a strategy to earn fees," the user said. Lux Moreau, the founder of Talk.Markets, also emphasized that the increasing prices of shares may lead to the formation of smaller groups or alternative group creations within the platform."As shares get sold, the prices also significantly increase. For example, the 500th member pays around 15.6Ξ, the 250th member pays 3.9Ξ, and the 100th member pays 0.625Ξ," the crypto veteran said in a tweet last week. More worryingly, Twitter user Spot On Chain has noted that Friend.Tech’s API can be used to extract sensitive data from the platform, like showing the wallets created by the users. Soon after the tweet, a core developer for Yearn Finance, published a list of 101,000+ users with their wallet address and Twitter username. Additionally, the developer claims that every user on the platform had (unknowingly) given Friends.Tech permission to post on their behalf on Twitter.DeFi Lender Exactly Protocol Exploited For $12 Million

Exchange Rankings Crypto
Image: cyptoranking.com

“FTT — an illiquid crypto asset security that was issued by FTX and provided to Alameda at no cost. Ellison, acting at the direction of Bankman-Fried, engaged in automated purchases of FTT tokens on various platforms in order to increase the price of those tokens and inflate the value of Alameda’s collateral, which allowed Alameda to borrow even more money from external lenders at increased risk to the lenders and to FTX’s investors and customers, all in furtherance of the scheme,” court documents read. Happy birthday New Liberty Standard. May you rest in peace.Crypto investors still active in China, many allocating over $100k: Bitget How to Buy Bitcoin Anonymously And Enjoy ItBlockchain data shows that the value of the assets held by Ethereum co-founder Vitalik Buterin is down by about $20 million over the last seven days. Cryptocurrency analyst, Benjamin Cowen, shared in one of his latest YouTube videos that he has not been impressed by Ethereum’s (ETH) performance this year. In his analysis, Cowen placed particular emphasis on the ETH / Bitcoin (BTC) valuation, as well as the effects that the Merge could have on ETH’s future performance.

Prosecutors plan to use Ellison’s testimony to expose the alleged financial misconduct between FTX and Alameda. Conversely, SBF’s defense team intends to portray Ellison negatively, emphasizing her perceived lack of business prowess and personal motivations, given their prior romantic involvement. 15 New Cryptocurrency to Buy in 2023 Japanese regulators loosen crypto laws and make it easier to list coinsShytoshi responded to that, saying that the SHIB team are using a “particular strategy” when adding validators in order to ensure the safety of the Shibarium network. He stressed that this strategy implies gradual integration of new validators since adding them instantaneously would “put the chain in jeopardy”. Centralized: Yes, you heard it right. Since BSC is centralized, it relies on its parent company Binance, to control all transactions with cryptocurrencies.

Roughly speaking, a Decentralized Autonomous Organization (DAO) is an organization run by a set of codes agreed upon by the members of the DAO. It is fully autonomous and transparent: smart contracts make up for the foundation rules and execute the final decision. In a post on X (formerly Twitter), BitMEX Research alleged that FTX’s insurance balance was “produced by a random number generator.” Bitcoin Eyes $31000 After Rallying 17% Over The Past WeekIn 2022, Improbable reduced its losses by 85%, from £131 million (~$159 million) to £19 million (~$23 million). Over the past year, the company grew its revenue by 2.6x to £78 million (~$95 million). Moreover, it shows that DOGE has fallen under a descending resistance trendline since July 25. Together, they create a descending triangle, considered a bearish pattern.

Have an opinion on this story? Share it!