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2024-05-12

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CloneX In a new strategy session, crypto analyst Benjamin Cowen tells his 787,000 YouTube subscribers that Ethereum is likely to collapse by the end of the year. Opera Crypto Browser|Desktop Web3 browserSource: ShutterstockBinance Labs, the venture arm of Binance, injected $10 million into Helio Protocol on August 11th. This investment supports Helio Protocol's ongoing shift towards becoming a liquid staking platform. The substantial funding from Binance Labs highlights Helio Protocol's promising potential and underscores the rising importance of liquid staking within decentralized finance (DeFi).A spokesperson from Binance Labs elaborated on their enthusiastic perspective concerning liquid staking. They highlighted the notable surge in total value locked (TVL) within "LSDfi protocols," emphasizing the rapid growth potential of these protocols. These protocols introduce additional use cases for liquid staking tokens, which could significantly accelerate the expansion of liquid staking. This expansion can propel staking participation, ultimately leading to unprecedented capital efficiency.However, according to Binance Half-Year Report published in July, it noted that Liquid staking, although it has emerged as the largest DeFi category in terms of TVL, there are things to be wary of, including smart contract vulnerabilities, slashing risks and price fluctuations.Binance's report in July revealed that liquid staking overtook DEXs in TVL supremacy by April 2023. Initially, market concentration focused on key protocols, but Binance predicted diversification as more projects entered this sphere soon.Though liquid staking is gaining popularity, users must remain cautious. "When engaging in liquid staking, users interact with additional smart contract layers, which exposes them to potential bugs. Thorough research by users is crucial."Futhermore, Binance warned that fluctuations in market prices might cause mismatches between the Liquid Staking Token (LST) and underlying tokens, often due to smart contract complications.The Liquid Staking Revolution: Helio's Strategic Pivot towards DeFi TransformationLiquid staking stands as the DeFi sector's imminent game-changer. It is a decentralized finance subset, allowing users to earn yield while retaining token liquidity. It involves staking tokens to gain different representative tokens – liquid staking tokens (LSTs) – which find use within DeFi.The biggest staking platform on Ethereum is Lido Finance. It offers users Staked Ethereum (stETH) when they deposit their ETH with the protocol.Binance Labs expressed optimism about liquid staking, also known as liquid staking derivative finance or "LSDfi protocols." A Binance Labs spokesperson said via email, "LSDfi protocols have created new opportunities for yield-seeking LST holders. They have gained significant Total Value Locked (TVL) growth recently. By expanding the use cases for liquid staking tokens, LSDfi could accelerate liquid staking growth by encouraging more staking for higher capital efficiency."Helio Protocol ranks thirteenth in DeFi on the BNB Chain, boasting 11,000 HAY holders and $300 million in TVL. Backed by Binance Labs and focusing on liquid staking innovation, Helio aims for a significant DeFi presence. The Binance Labs spokesperson stated, "Helio aims to launch on Ethereum, followed by major L2 networks such as Arbitrum and Zksync."Helio Protocol's recent actions in this realm have been truly transformative. Following its merger with Synclub, Helio revamped its BNB deposits. These deposits now seamlessly convert into a variety of LSTs like AnkrBNB (ANKR), snBNB (Synclub), BNBx (Stader), and stkBNB (Pstake). This innovation enables users to withdraw any LST of their choice, thereby enhancing liquidity and the usability of their staked assets.Coinbase's Blockchain Gambit: A Solution to Six Consecutive Quarters of Losses? The hacker responsible for stealing over $400 million from FTX and FTX US in November could be using the hype around Sam Bankman-Fried’s fraud trial to further obfuscate the funds, says CertiK’s director of security operations Hugh Brooks.

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XRP Price Prediction as $1 Billion Pushes XRP Above $0.50 Resistance – Here's the Next Level to Watch A Nostalgic Ride Down Memory Lane 5 Unusual Bitcoin Income Strategies for 2023“We regret that such an incident has taken place,” said Sorokin on the latest incident. He added that 3Commas is improving its security to prevent or limit similar future incidents. The crypto rugs outside the SEC in New York. Source: Saiers

In addition to the Afghan War logs, WikiLeaks also published those of the Iraq War. This picture depicts a wounded Iraqi being loaded onto a van during an attack by Apache helicopters that killed a dozen people in Baghdad, including two Reuters news staff on July 12, 2007. Carrica adds that the risks of holding paper money must also be considered. “You put it in a safe in the bank,” he says, hoping it will be secure. How to Make Money with CryptocurrencyIn the fast-paced world of cryptocurrencies, Hong Kong is taking a measured approach to navigate the burgeoning interest in digital assets. Recent developments in the region indicate a deliberate strategy that seeks to safeguard investors while promoting innovation in the cryptocurrency space. Prevailing Risks in DeFi Investments

The direct model is where all participants of a transaction will hold an account in the central bank, and payment will be transferred from one account to another with all claims being backed up by the bank. Know Your Customer (KYC) and Anti-Money Laundering (AML) compliance requirements will be managed by the central bank. “We are also concerned that clubs may present fan tokens as an appropriate form of fan engagement in the future, despite their price volatility and reservations among fan groups,” the report said. Does Warren Buffett use derivatives?On the project’s Discord server, a member of Ordswap’s team and users reported that, for a time, the website featured a button prompting users to connect their crypto wallet in an apparent attempt to phish users.One X user reported the button was a wallet drainer, an increasingly popular tool deployed by crypto scammers. At the time of writing, Ordswap’s website automatically redirected to a competing marketplace, RelayX.An Ordswap team member on Discord claimed the project had not seen an impact on user private keys or assets due to the breach but added users could be compromised if they interacted with the site.Ordswap support team member “Bitkorn” claims the project hasn’t seen user assets impacted by the website’s breach. Source: DiscordRelated: FTX hacker could be using SBF trial as a smokescreen: CertiKIn late September, the website for the Ethereum-based automated market maker Balancer was compromised in a seemingly similar attack, with attackers making off with around $240,000 worth of funds.Balancer later said it believed the exploiters undertook a social engineering attack on its DNS service provider, EuroDNS, which allowed attackers to input a prompt to trick users into approving a malicious contract that drains their wallet.Collect this article as an NFT to preserve this moment in history and show your support for independent journalism in the crypto space.Magazine: NFT Collector: Giant Swan’s gothic VR dreamscapes… royalty nightmare on OpenSea Both Huobi and KuCoin’s websites do not list the UK as a restricted country. Spokespeople for both companies claim they do not serve UK customers.

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