Author: CryptoHoppers
Key Takeaways Compound DAO approved Proposal 289, granting 499,000 COMP tokens to a single user. The proposal raises concerns about potential single-entity control of Compound’s governance. Share this article Compound governance approved Proposal 289 on July 28th, which consists of giving 499,000 COMP tokens to a user named Humpy to create a yield vault. The amount was equivalent to over $25 million at the price from the day of approval. However, users from the community highlighted this proposal as an attack on Compound’s governance which might hold it hostage to this whale.Humpy spent the past three months buying COMP tokens…
The CEO of Indian crypto exchange Coindcx has criticized Wazirx’s approach in response to a recent $230 million cyberattack. Urging Wazirx to take responsibility, he stressed: “Making customers directly absorb the 45% losses is utter nonsense.” Wazirx is working to recover and reopen its platform, providing updates and taking legal actions, while assuring users about […] Source link
Bitcoin is down close to 3% after climbing to a local high at $69.4k. The Bitcoin dominance and liquidity charts hold clues about the next price move. Bitcoin [BTC] reached the $69k resistance zone. In an earlier report, it was highlighted that the liquidity pool at this level would likely attract prices to it before a potential bearish reversal. Over the past 24 hours of trading, BTC reached $69.4k and fell 2.7% to trade at $67.5k at press time. The metrics had been bearish in the short term earlier this week. Monday’s trading session could set up the trend for…
Key Takeaways Justin Sun expects China to adopt more competitive Bitcoin policies. The US government currently holds over $14 billion worth of Bitcoin, making it the largest national holder of Bitcoin globally. Share this article Founder of the Tron blockchain Justin Sun has called on China to reform its approach to Bitcoin policy, especially when the US has shifted toward more favorable Bitcoin policies since former President Donald Trump publicly expressed his support for Bitcoin and the crypto sector.Sun believes if China also enhances its Bitcoin policies, the resulting competition between China and the US in developing and implementing Bitcoin…
Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: The U.S. Department of State states bitcoin helped drive tourists to El Salvador, Paraguay dismisses concerns about power fee hikes for bitcoin mining activities, and Salvadoran basic goods’ prices reach record highs. US […] Source link
Avail, a blockchain initiative from 2023, has unveiled its data availability mainnet alongside its native AVAIL token, which aims to solve rollup fragmentation and enhance scalability. Avail DA presents a modular blockchain architecture designed to optimize data accessibility. It helps developers construct more scalable, cost-effective, and composable chains. Avail DA Mainnet & the AVAIL token … Source link
Trump speaking at Bitcoin 2024. Source: Bitcoin Magazine Livestream. Key Takeaways Trump’s speech at Bitcoin 2024 led to a sharp increase and then a drop in Bitcoin prices. Nearly $24 million in Bitcoin longs were liquidated during the speech. Share this article Bitcoin prices experienced significant volatility during former U.S. President Donald Trump’s speech at Bitcoin 2024 in Nashville, where he unveiled plans to establish a “strategic national bitcoin stockpile” if re-elected.The price of Bitcoin (BTC) saw dramatic swings as traders reacted to Trump’s remarks. Prior to the speech, Bitcoin rose above $69,000. However, the price subsequently dropped to as…
The Swiss regulator, the Financial Market Supervisory Authority (FINMA), recently published guidance on the issuance of stablecoins. The regulator says stablecoins are not only associated with money laundering risks but pose reputational risks for the entire Swiss financial centre. Stablecoin Issuers as Financial Intermediaries The Swiss regulator, the Financial Market Supervisory Authority (FINMA), has recently […] Source link
One of the most important points of focus in the US Presidential race has been the policy of both parties regarding Bitcoin and cryptocurrencies. The Trump administration has repeatedly vocalized its support for digital assets, and its supporters have enunciated the same. This included Senator Bill Hagerty, who took to X (Twitter) today to address the upcoming Bitcoin 2024 conference. Touted to be the biggest crypto conference in the world, the event will be held in Nashville, Tennessee. I’m thrilled to be in Nashville for @TheBitcoinConf and to welcome many influential speakers, friends and colleagues from Washington, and @realDonaldTrump to…
The EigenLayer Foundation has announced an upcoming rewards program that will reward stakers and operators for securing Actively Validated Services. According to details in a blog post, the Ethereum (ETH) restaking protocol is also introducing a new incentive program that will offer 4% of the EigenLayer (EIGEN) total supply. EigenLayer Foundation announces rewards-boost program EigenLayer links different restaking protocols, and stakers and operators help secure AVSs by restaking their ETH. In return, they receive staking rewards. When the new initiatives launch, it will be the first time the stakers and node operators get token-based rewards directly from AVSs via the…