Blockchain News

Abracadabra’s $6.49M loss leads to MIM stablecoin destabilization

• by admin
• January 31, 2024

Some Abracadabra Finance contracts were drained of $6.49 million, causing its Magic Internet Money stablecoin to depeg. Abracadabra Money, a cross-chain lending platform, has confirmed a $6.49-million exploit involving the protocol’s Ethereum cauldrons that allow users to borrow the Magic Internet Money (MIM) stablecoin using different assets as collateral. The MIM development team acknowledged the […]

Blockchain News

Chair of digital assets subcommittee hopes to see crypto bills ’coming to fruition’ in 2024

• by admin
• January 30, 2024

The U.S. House Financial Services Committee passed the Financial Innovation and Technology for the 21st Century Act and the Clarity for Payment Stablecoins Act in July 2023. United States Representative French Hill, chair of the House Financial Services Subcommittee on Digital Assets, Financial Technology and Inclusion, provided the public with an update on how lawmakers […]

Blockchain News

Do Kwon’s Terraform Labs files for Chapter 11 bankruptcy protection

• by admin
• January 23, 2024

The firm claims to have between $100 million and $500 million in estimated assets and liabilities. Do Kwon’s Terraform Labs, the company behind the now-defunct TerraUSD (UST) stablecoin, has filed for bankruptcy protection in the United States.  The firm filed for Chapter 11 bankruptcy protection at the United States Bankruptcy Court for the District of Delaware, […]

Blockchain News

Dubai’s SocialFi summit aims to unravel the future of Web3 social media

• by admin
• January 22, 2024

A Web3 event in Dubai aims to bring SocialFi to the spotlight by showcasing the potential of decentralized social media. SocialFi is transforming the digital landscape by integrating decentralized finance with social networking, empowering users through financial incentives and control over their content. Organized by Pop Social, Polygon, Bybit, Crypto Oasis and Ceras Ventures, the […]

Blockchain News

How layer-1 blockchains can solve the blockchain trilemma

• by admin
• January 21, 2024

Blockchain technology is facing a growing centralization trend, which could compromise its core principles. This layer-1 blockchain aims to set a new standard backed by the decentralized ethos. As the centralization trend in blockchain technology continues to grow, the community needs new platforms loyal to the principles of decentralization. Callisto Network’s layer-1 blockchain offers a […]

Blockchain News

Rollups, corporate demand, and Bitcoin-tied solutions among 2024’s crypto business trends

• by admin
• January 15, 2024

After enduring a lengthy winter, the crypto industry shows signs of recovery, fueled by increasing institutional interest and Bitcoin’s widening popularity. Crypto businesses are looking forward to less turbulent times after a long crypto winter, with institutional demand and growing Bitcoin adoption helping to drive innovation in the crypto space. Trends to look for this […]

Blockchain News

Bitcoin short ETPs record $1M weekly outflow, anticipating spot BTC ETF approval

• by admin
• January 9, 2024

Outflows from various Bitcoin short investment products totaled over $1 million, suggesting traders are bullish on spot Bitcoin ETF applications getting the nod from the SEC. Digital asset investment products, or exchange-traded products (ETPs), saw inflows of $151 million in the first week of 2024, according to data from CoinShares. The latest week of inflows brought […]

Blockchain News

New protocol launches for cross-chain trading of inscription tokens

• by admin
• January 8, 2024

A new trading protocol aims to support the growth of popular inscription tokens by aggregating liquidity from various trading platforms across blockchain networks. Bitcoin has kicked off a dynamic ecosystem with blockchain, its underlying technology. The evolution has only accelerated with the emergence of the Ethereum network and smart contracts. After meme tokens, nonfungible tokens […]

Blockchain News

CME Bitcoin futures held $1.6K premium as spot BTC price traded above $45K — Why?

• by admin
• January 3, 2024

2024 is off to a great start according to CME Bitcoin futures data, but not every derivatives market supports the current bullishness The Chicago Mercantile Exchange Bitcoin BTC $45,140 futures traded at $47,040 in the early hours of Jan. 2, $1,600 above the spot markets. Traders are now questioning whether the spike was limited to […]

Blockchain News

Bitcoin targets $48K in ‘spot-driven’ BTC price rally

• by admin
• January 2, 2024

Bitcoin sees its highest levels since early April 2022, but shorters are well-prepared for ETF volatility. BTC price closes in on ETF target range Data from Cointelegraph Markets Pro and TradingView showed BTC price strength building as the new year holiday period ended. Amid renewed excitement over the United States’ first spot Bitcoin exchange-traded fund […]