Monthly Archives: February 2021

Nervos launches $5M fund to support DeFi projects

Chinese blockchain network Nervos has announced a $5 million fund to back emerging DeFi projects China’s Nervos Network has launched a $5 million fund to support projects building decentralized exchanges, lending platforms, and other DeFi protocols. According to a Feb. 10 announcement from Nervos, the fund will be used to provide cash grants and direct support to fintech and blockchain entrepreneurs. In particular, Nervos is looking to back Defi teams building trustless decentralized exchanges, synthetic asset solutions, identity protocols, lending solutions, prioritizing projects striving for interoperability across […]

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Seized Silk Road Bitcoin Worth $3 Billion Likely Linked to Disgraced US Secret Service Agent

Over $3 billion worth in bitcoin seized by the U.S. Department of Justice (DOJ), belonging to Silk Road, are likely linked to a former U.S. Secret Service agent. The latest findings suggest that “Individual X” is, in fact, Shaun Bridges. Bridges Is Set to Be Freed in November Per recent court filings, cited by Fortune, the 69,370 bitcoins taken by the law enforcement also have possible ties with Carl Mark Force IV, a former official from the Drug Enforcement Administration (DEA). Both agents were part of the […]

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Bitcoin mempool clogs up with 125K transactions waiting

While the number of Bitcoin transactions that can fit in a block remains the same, demand on the network is leading to rising transaction costs. The number of transactions waiting to be confirmed in the Bitcoin mempool surged briefly above 125,000 today. This represents the equivalent of roughly 149 megabytes worth of data waiting to be added to the blockchain, which is enough to fill at least 107 upcoming blocks. Although smaller than the spike that saw a 143,000+ transaction backlog on Dec. 17, 2020, the increasingly […]

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Virtual land can be worth more than the real thing after plot sells for record $1.5M

Digital land is breaking new ground in terms of the price it can fetch, sometimes beating out the real thing. A non-fungible token, or NFT, representing digital plots of land has sold for a record $1.5 million in the crypto-tamagotchi virtual ecosystem, Axie Infinity. The platform offers NFTs for ‘Axies’, fantasy creatures that inhabit a player-controlled virtual realm called “Lunacia.” On Feb. 8, a community member purchased nine digital land plots in Lunancia as one parcel for 888.25 Ether — worth more than $1.5 million at the […]

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CME’s Ether futures drove more than $30M volume on first day

More than $30 million worth of Ether contracts changed hands on CME during the market’s first day of trade. The launch of Chicago Mercantile Group’s highly anticipated Ether futures saw more than $30 million worth of contracts traded during the first day of trade. Launched on Feb. 8, CME’s new Ether product saw 388 contracts traded in its first day, with 303 of the contracts being mobilized to speculate on February’s price. While 84 contracts expiring in March were also traded, only a single April contract changed […]

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Crypto Financial Services Firm Blockfi Launches Competitive Bitcoin Trust

The cryptocurrency financial services firm Blockfi has launched a bitcoin-based trust that offers custody from Fidelity Digital Asset Services. Blockfi’s investment vehicle aims to give investors exposure to the leading crypto asset as bitcoin assets under management (AUM) was over $29 million on February 8, 2021. Blockfi Launches a Competitive Bitcoin Trust With a Sponsor Fee of 1.75% On Tuesday, the lender and financial services company Blockfi launched its bitcoin trust as it is managed by Blockfi Management LLC, a wholly-owned subsidiary of Blockfi. The trust will […]

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Bitcoin energy debate resurfaces with calls for ‘green hackers’ to attack network

“If you’re not a green hacker, and you’re not doing it for the planet, you can also do it for the money: by speculating downward on the price of Bitcoin before launching attacks.” The exponential rise in Bitcoin’s price and hash rate is driving critics to once again question the largest blockchain’s energy efficiency — with calls for “green hackers” to band together to mount an attack on the network. Total world production and consumption vs. Bitcoin. Source: CBECI A self styled “developer and ecologist” who goes […]

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DeFi wars heat up as Curve Finance TVL hits $3.99B, surpassing Uniswap

Curve Finance has surpassed Uniswap’s total value locked, a sign that competition between DeFi protocols is heating up. As decentralized finance grows in prominence, a battle of the DEXs is brewing between several of the top protocols like Uniswap (UNI), SushiSwap (SUSHI) and Curve DAO (CRV) as the growing list of platforms vie for investor liquidity and transactions on the network.  In terms of total value locked, DeFi lending platforms currently dominate the space with the top 3 positions currently occupied by Maker (MKR), AAVE, and Compound […]

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Darknet market link provider claims its Bitcoin donors’ accounts were frozen

The admin of a well-known darknet market link provider claims its donation address was flagged as suspicious after it criticized Chainalysis’ KYT flagging system. The administrator of dark.fail, a website providing verified links to darknet markets, claims that exchanges are unfairly closing accounts donating Bitcoin to the service after implementing a Chainalysis transaction flagging system. The admin alleged in a tweet that two donors of Bitcoin to the website had their accounts blocked by exchanges that recently implemented Chainalysis’ new KYT — or Know Your Transaction — […]

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South Korean Crypto Exchange Becomes the First Overseas Platform Legally Recognized in China

A South Korean cryptocurrency exchange announced it established its first legally recognized branch in China. Although the nation banned all local crypto trading services, DBX said the firm already obtained a license to go ahead with the operations. Final Certificate of Incorporation Granted on February 5 According to Money Today, DBX received the operating license to establish the subsidiary in China as part of its overseas expansion plans. The crypto exchange is affiliated with the Korea Blockchain Coordination Association. Per the details given by the exchange, the […]

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