Blockchain Biz
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Blockchain Biz

Daily Crypto News

  1. Pay No Attention to the Price of Bitcoin and Ethereum — Crypto advocates point out that it’s not just crypto, stocks have been hammered too. And they’re right: everything is down right now. But that’s cold comfort for crypto believers, who — I’ll let you in on a little crypto media trade secret — do not care to read any crypto news when crypto prices are down. ConsenSys CEO Joe Lubin put on a brave face last week when talking to me about the technological success of the Ethereum merge, but ETH is down a disheartening 21% since the event.
  2. Bitcoin rises as Ether leads gains in crypto top 10 — Bitcoin and Ether were trading higher along with top 10 tokens by market capitalization excluding stablecoins in Monday morning trading in Asia, as the world’s largest cryptocurrency remained above US$19,000. XRP was the only token on that list to fall.
  3. Cryptos Remain in a Holding Pattern — The largest cryptocurrency was recently trading at about $19,250, slightly up over the previous 24 hours and from where it stood at the start of the weekend. BTC has traded listlessly within a narrow $19,000 to $21,000 range it’s held for much of the past month. Analysts see the trend continuing short of an unexpected catalyst in the weeks ahead.
  4. A Pan-Asian Digital Currency? Good Luck Getting Rivals to Cooperate — Chinese state researchers say such an initiative would bolster monetary cooperation between the regions’ economies, lessening their dependence on the U,S, dollar. But such an effort would present formidable obstacles. While the world’s modern industrial supply chain crisscrosses the Asian continent, the same companies that, say, provide Apple parts for its iPhone also compete to replace each other for parts for next year’s model. Samsung provides the display for the iPhone, yet its foundry division competes with Taiwan Semiconductor to fabricate Apple’s latest chips for the phone.
  5. $100 Million Mango Markets Saga, Caitlin Long Calls Out Fed — The Mango Markets exploit was also the most intriguing, since the hackers appeared to be working in the interest of Mango’s depositors. In their proposal, they cited “bad debt” from a bailout executed by Mango Markets and Solend back in June. Eventually “Eisenberg” came clean. Turns out he’s Avraham Mayer Eisenberg of New York and he has allegedly milked millions from crypto exploits before. Eisenberg confirmed that for his latest exploit, he was working as part of a bigger organization and claimed that their actions were legal.
  6. Bitcoin and Stocks Took a Gut Punch; the Builders Hardly Noticed — Surprise, surprise, inflation is still lurking about. The Consumer Price Index (CPI) report was released Thursday. The CPI — which tracks the general price of goods across the U.S. — rose 8.2% in September from the same month a year ago, above the forecasted 8.1%. CoinDesk U.S. markets reporter Helene Braun added good color Thursday morning, writing: “The ‘core’ CPI, which strips out volatile energy and food prices and is more closely watched by investors and policymakers because it’s seen as a more steady indicator of underlying price pressures, rose 0.6%.”
  7. Crypto Market Maker Wintermute Pays Off $96M TrueFi Debt Weeks After Being Hacked — Prominent crypto market maker Wintermute paid off its $96 million debt on decentralized finance (DeFi) protocol TrueFi, TrueFi’s loan dashboard shows, just about three weeks after being hacked for $160 million. The TrueFi loan was one of the firm’s largest outstanding known debts owed to a DeFi lending platform. Wintermute took out a $92 million loan on the TrueFi protocol from its USDT lending pool in April, which was due to mature Oct. 15.
  8. Flashbots Reveals New Version of Its Key Ethereum Software — Flashbots, whose software plays a pivotal role in the Ethereum blockchain ecosystem, said Friday that for the past year it has been developing a new version of the technology. The company announced this at Devcon in Bogota, Columbia, the biggest Ethereum conference of the year. Flashbots is a research and development team that has been working on ways to curb the potential harms of MEV — a controversial way of making money by reordering blockchain transactions.
  9. Ethereum supply would have grown by 350,000 tokens under PoW—Total Ethereum supply growth since September’s The Merge would have surpassed 350,000 tokens on Friday if the blockchain retained the proof-of-work (PoW) consensus mechanism, a model the network ditched in favor of proof-of-stake (PoS) in the upgrade, according to data from Ether supply tracker ultrasound.money.
  10. Magic Eden Flip-Flops on Solana NFT Royalties, Making Them Optional — Magic Eden, the most popular marketplace for Solana NFTs, announced late Friday that it would no longer strictly honor creator-set royalties on NFTs sold through its platform, bowing to recent pressure as royalties-shunning rivals rapidly stole away its market share. “After some difficult reflection and discussions with many creators, we’ve decided to move to optional royalties,” the platform tweeted. Magic Eden also said that it would waive its platform fees during a promotional period, in an apparent bid to win back traders.

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