LayerZero’s ZRO perpetual futures contract is trading at $8.6 on Hyperliquid, the world’s largest perps DEX, suggesting a potential $17 billion fully diluted valuation. Source: https://cointelegraph.com/news/layerzero-takes-airdrop-snapshot
Month: May 2024
Bitcoin halving sees Bitfarms’ BTC mining earnings plummet
Bitfarms is actively working to triple its current hash rate capacity to 21 exahashes per second (EH/s) with a $240 million investment. Source: https://cointelegraph.com/news/bitcoin-halving-impact-bitfarms-mining-rewards
Bitcoin dumps 'bull market excess' as daily ETF outflows pass $500M
BTC price action spooks ETF investors, data shows, but there is reason to believe that Bitcoin is seeing a broadly healthy correction. Source: https://cointelegraph.com/news/bitcoin-dumps-bull-market-excess-etf-outflows-500m
Attackers Steal $1.6 Million in Digital Assets From Defi Protocol Pike Finance
Unknown attackers recently siphoned digital assets valued at just under $1.6 million from the decentralized finance protocol, Pike Finance. The protocol announced it is offering a 20% reward for the return of the funds, while an ongoing investigation into the incident continues. USDC Vulnerability The decentralized finance (defi) protocol, Pike Finance, said on May 1 […] Source: https://news.bitcoin.com/attackers-steal-1-6-million-in-digital-assets-from-defi-protocol-pike-finance/
FBI busts $43M crypto and Las Vegas hospitality Ponzi scheme
The FBI arrested a New York resident for defrauding investors of at least $43 million in a multi-year Ponzi scheme that included a Las Vegas hospitality business and crypto trading operation. Source: https://cointelegraph.com/news/new-york-resident-arrested-43m-ponzi-scheme
Pike Finance clarifies ‘USDC vulnerability’ statement on $1.6M exploit
Pike highlighted that the exploit occurred due to their team’s inadequate integration of third-party technologies such as the CCTP or Gelato Network’s automation services. Source: https://cointelegraph.com/news/pike-defi-usdc-exploit-clarity
Nigeria’s Patricia Exchange CEO debunks closure rumors
Patricia CEO Fejiro Hanu said they are currently awaiting the prosecution and conviction of the other suspects involved. Source: https://cointelegraph.com/news/patricia-ceo-debunks-closure-rumors-crypto-exchange
Arkansas bills reining in crypto miners heads for governor approval
Arkansas Governor Sarah Huckabee Sanders is expected to sign the bills into law which will regulate miners’ noise, water use and licensing. Source: https://cointelegraph.com/news/arkansas-crypto-mining-bills-heading-governor-approval
Aave Labs Unveils Ambitious Plans for Protocol V4: Enhancing GHO Stability and Cross-Chain Liquidity
Aave Labs proposed a significant upgrade to its protocol, aimed at enhancing features like its stablecoin GHO, introducing a Unified Liquidity Layer for better integration, and improving the protocol’s architecture for cross-chain liquidity across both Ethereum and non-EVM layer-1 platforms. The update also focuses on automatizing interest rates based on market conditions with Chainlink data […] Source: https://news.bitcoin.com/aave-labs-unveils-ambitious-plans-for-protocol-v4-enhancing-gho-stability-and-cross-chain-liquidity/
Synethix founder Kain Warwick targets mid-May launch for Infinex DEX
The Infinex front-end DEX is targeting a May 13 launch, pending a final vote from Synthetix’s governing council. Source: https://cointelegraph.com/news/synethix-kain-warwick-targets-mid-may-infinex-dex-launch