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Future is created by what you do today, not tomorrow
02/18/2022

Future is created by what you do today, not tomorrow

Portal, a cross-chain DEX built on Bitcoin, claims to have the technology to improve upon the currently-vulnerable cross...
02/17/2022

Portal, a cross-chain DEX built on Bitcoin, claims to have the technology to improve upon the currently-vulnerable cross-chain bridge model. This is in response to the several hacks that happened in the past months that put user funds at stake.

The Portal Atomic Swap has taken a different approach that introduces no centralization, wrapped tokens, or third-party custody. Instead, all transactions rely on a peer-to-peer approach. If the transaction encounters an issue, it can be rolled back and participants keep their original assets.

The removal of wrapped tokens or validators is a general quality of life feature when processing transactions. Additionally, the peer-to-peer aspect ensures there are no unexpected delays, blocked funds, exploits, or other drawbacks that cross-chain bridges have.

Huobi Global, one of the world’s leading digital asset exchanges, announced on February 15 that it burned 823,000 Huobi ...
02/17/2022

Huobi Global, one of the world’s leading digital asset exchanges, announced on February 15 that it burned 823,000 Huobi Tokens (HTs) in Jan 2021, valued at approximately US$7.57 million, as part of its monthly token burning exercise.

Token burning refers to the process of removing crypto tokens from circulation in perpetuity, a move usually targeted at reducing a token’s supply. Huobi Global burns 15% of its revenue’s worth in HTs every month and allocates another 5% of its total income to repurchase and burn a portion of HT used for team incentives.

The current circulation amount of HT stands at 166.07 million HT; the existing supply of HT stands at 209 million HT. The number of HT holders grew 2.95% in Jan 2022. According to data from a recent Exchange Review released by CryptoCompare, an independent global crypto market data provider, Huobi Global’s total spot trading volume reached $64.7 billion in January 2022.

Once again, the world’s largest cryptocurrency exchange, Binance, has come under regulatory scrutiny. This time, its U.S...
02/16/2022

Once again, the world’s largest cryptocurrency exchange, Binance, has come under regulatory scrutiny. This time, its U.S. arm is under investigation from the Securities and Exchange Commission (SEC) over its relationship with two affiliate market makers.

According to the report, the two firms, Sigma Chain AG and Merit Peak Ltd., are owned by the CEO of Binance, Changpeng Zhao. The report shows corporate documents from 2019 tying CZ with both firms.

The SEC Investigates Binance.US Ties with Sigma and Merit Peak

Both trading firms continuously buy and sell crypto on Binance.US, which reduces price volatility. While helping to ease price volatility, market makers profit from the small differences in the bid and ask prices.

While market-making activities are commonplace in both the traditional finance and crypto industry, Binance.US does not name any of its market maker partners on its website.

The regulatory agency has now requested information from Binance U.S. on the two affiliate trading firms. In addition, it has launched an investigation on whether they received preferential treatment from the exchange regarding access or speed.

Sources familiar with the case explained that another area of focus for the SEC is how Binance.US disclosed its links to the trading firms to customers. However, it remains unclear how the SEC might proceed with any enforcement action for now.

Banger Games raises €10 million to become the first blockchain gaming hub.Banger Games aims to provide gamers a holistic...
02/16/2022

Banger Games raises €10 million to become the first blockchain gaming hub.
Banger Games aims to provide gamers a holistic experience amidst the industry’s growth.
Players will be rewarded with NFTs and more.
Startup company, Banger Games, has raised €10 million to become the first gaming hub that will provide players a more holistic gaming experience, regardless of the game, publisher, or platform.

Banger Games is looking to establish a single shared currency and economy for gamers that exempt them from the restrictions prevalent in today’s gaming industry. This project will veer away from profit-oriented, micro-transaction dominant, and less exciting platforms. In this project, players will be free to challenge and enjoy themselves by competing, earning, trading, and more.

When asked about what the current market lacks, Banger Games CEO, Borja Villalobos, said:

As the industry has exploded in different directions, we are certain that gamers feel more disconnected than ever. Banger is the platform aimed at unifying this ever-increasing ecosystem into one central point in the gaming universe.
Villalobos pointed out that while the crypto industry continues to branch towards the metaverse, virtual reality (VR), Indie Publishers, and Play-to-Earn games, it is important to keep users engaged.

Since its launch, Ethereum has been the favorite for developers because of its combination of features, which serves as ...
02/16/2022

Since its launch, Ethereum has been the favorite for developers because of its combination of features, which serves as a base layer for the creation of smart contracts and decentralized applications (dApps).

The utility of the Ethereum blockchain has seen developers create over 3,000 dApps and 530 DeFi protocols. Vitalik Buterin, the founder of Ethereum, believes that as Ethereum’s adoption increases, the project could become a world computer.

Ethereum’s Network Activity Explodes

The growing number of online applications on the Ethereum network has led to a spike in the network’s activity. Ethereum has hit a new milestone, gaining 18.36 million active addresses with non-zero balances in 2021.

In addition, the number of addresses holding at least 0.1 ETH on February 14 hit an all-time high of 6,895,205. The total number of addresses holding Ethereum now stands at 70.4 million.

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