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Wintermute founder and CEO Evgeny Gaevoy says the Near Foundation reneged on an offer to convert $11m million worth of its stablecoin. The NEAR Foundation and Aurora allegedly reneged on an offer to convert $11 million worth of USN stablecoin s, Wintermute founder and CEO Evgeny Gaevoy has claimed. In a Nov. 7 X (Twitter) post, Gaevoy claimed NEAR refused to honor a commitment to facilitate the sale of $11.2 million worth of its stablecoin USN for the FTX estate. 3. Summary To reiterate, I see this situation very clearly as: - NF committed to backstop USN and earmarked money for it - Aurora accepted the redemption in August (and only last week backtracked on it) - NF decided they have the power to keep the $11M to themselves instead of… — wishful cynic (@EvgenyGaevoy) November 7, 2023 Gaevoy said Wintermute was working with FTX to liquidate its assets for creditors which included the sale of $11.2 million worth of USN. Gaevoy claimed Wintermute executed the transaction — whi...

Proponents say PayPal’s PYUSD could see Ethereum become the money layer of the internet, while opponents argue that it’ll act like a poorly designed CBDC. Paypal’s new Ethereum-based stablecoin, PYUSD has been seen as bittersweet news for the crypto community . While it could finally see Ethereum find its place in mainstream adoption, it could also spell trouble for de central ization and personal control of assets, warns the community . The new stablecoin, Paypal USD, was launched on Aug. 7 and is issued by Paxos Trust Co. — the firm behind Binance USD (BUSD). It’s built on Ethereum and “designed for digital payments and Web3,” with the firm saying it will soon be available to United States customers. The launch has been seen as a boon for Ethereum adoption. Ethereum bulls Anthony Sassano and Ryan Sean Adams believe the ERC-20 stablecoin will push the blockchain closer towards becoming the money layer of the internet. This is the Ethereum contract address for PayPal's stablecoin....

The first increase in trading volume in months was driven by market volatility following the SEC's lawsuits against Binance and Coinbase, as well as improving sentiment via BlackRock's ETF filing. The combined spot and derivatives trading volume on centralized exchanges (CEXs) climbed 14.2% in June to $2.71 trillion, according to CCData's monthly exchange report. Binance, Binance.US, and Coinbase all saw their market share decline in the past month. As per the report, the first rise in trading volume in three months was backed by BlackRock's exchange-traded fund (ETF) filing and regulators' complaints against crypto exchanges Binance and Coinbase in the United States. Binance saw a surge in withdrawals following the Securities and Exchange Commission (SEC) lawsuit on June 5. As a result, its market share dropped the most among CEXs, by 1.40% to 41.6%, while Binance.US saw a marginal share decline of 0.86% to 0.36%. Coinbase's market share declined the least a...

The South Korean yield platform said it has filed a criminal complaint against B&S Holdings and plans to initiate civil proceedings as well. B&S Holdings, formerly known as Aventus, a consignment operator , has been alleged by South Korean yield platform Haru Invest of submitting fraudulent management reports containing “false information” and deceiving the company and its users. Notice to Investors (June 14, 2023): https://t.co/RN01gswTfq pic.twitter.com/IbYb9dA3oP — Haru Invest (@haruinvest) June 14, 2023 In a blog post, Haru Invest shared that it was planning to pursue legal action on top of criminal proceedings against B&S Holdings “to protect our users." Haru Invest said it is engaged in discussions with B&S Holdings regarding the matter. The company concluded its announcement with an apology, stating: “Once again, we apologize for causing concerns and inconveniences to our investors and customers. We will continue to work on the issue in a faithful mann...

Nike’s “virtual creations” will be integrated into EA Sports games in the coming months. In a major step towards mainstream gamer adoption for crypto, Nike’s nonfungible token (NFT) platform .Swoosh will soon be integrated with EA Sports games , potentially allowing Nike's virtual footwear and apparel to appear in games . In a June 1 statement, Nike said that its “virtual creations” — its way of saying NFTs — will start being incorporated into EA Sports games in the coming months, though neither Nike or Electronic Arts (EA) has revealed which game titles will include Nike’s virtual goods. And that does it for the launch of the OF1 Collection. Thank you to all of the 50K+ .SWOOSH members who participated. We'll be back tomorrow with a recap of all things OF1. Oh, and we have a special announcement coming at 8am PDT. Until tomorrow .SWOOSH fam — .SWOOSH (@dotSWOOSH) June 1, 2023 EA Sports games include FIFA — which was awarded the title of “most popular game” in 2022 — as w...

The crypto market has been consolidating for more than a fortnight now. Bitcoin has been rangebound between $26k-$27.5k. Likewise, most other large and mid-cap assets have also been consolidating. However, there are several on-chain signs pointing toward recovery at this stage. The Stablecoin Supply Ratio [SSR], for instance, has been dropping over the past few days. In the first week of the month, it created a local peak at 8.09. Now, however, it is down to 7.35. Lower values usually indicate a comparatively high stablecoin supply. Historically SSR bottoms have led to some form of strong recovery if not a complete trend reversal. Thus, it can be contended that the current downtrend is pointing toward the textbook theory of buy pressure gaining steam and hints towards a possible leg up for Bitcoin. Source: CryptoQuant In fact, several companies like Blockchain.com have been bearing the fruit of stablecoin adoption . At the Qatar Economic Forum, the company’s Co-Founder and C...

Sabin Dima, the CEO and founder of Humans.Ai, said that with the right implementation, governments could use AI to enhance public services and policies. Artificial intelligence (AI) has been a talking point for governments and thought leaders worldwide since ChatGPT emerged in late November 2022. While some question the ramifications of AI becoming a mainstay in society, others are embracing the technology head-on. Recently, the Romanian government unveiled a new AI chatbot, Ion, create d to ​​source community concerns and opinions to develop policy recommendations based on collected data. Cointelegraph spoke with Sabin Dima, the founder and CEO of Humans.ai — the company behind Ion — to better understand what government integration of AI could mean for the communities it serves. Dima started by highlighting the strength of AI, comparing it with nuclear power in the sense that it can “be either an atomic bomb or a nuclear plant, depending on the framework.” “The potential benefits of ...

The license expiration marks a significant event within the DeFi ecosystem, as it enables developers to deploy their own decentralized exchange (DEX). Developers are now allowed to fork Uniswap v3 protocol as its Business Source License (BSL) expired on April 1, shows the protocol documentation. The expiration was a much-anticipated event within the DeFi ecosystem, as it enables developers to deploy their own decentralized exchange (DEX).  The BSL is a type of license meant to last for a determinate period before becoming completely open source. In general, the purpose is to protect the author's right to profit from their creations. Uniswap v3's license was released in 2021 for a period of two years, preventing its code from commercial use. A new license called General Public License applies to the protocol now. To fork the code, developers will be required an Additional Use Grant, a production exemption meant to accommodate both the needs of open-source and commercial devel...

Argo’s daily Bitcoin production rate in February surged 7% despite a 10% month-over-month increase in average network difficulty. Publicly-listed Bitcoin (BTC) mining firm Argo Blockchain has increased its daily BTC production despite a significant spike in network difficulty. During the month of February, Argo mined a total of 162 of Bitcoin or BTC equivalents, translating to 5.7 BTC per day, the firm announced in an operational update on March 7. Argo’s daily Bitcoin production rate in February surged 7% from 5.4 BTC per day produced in January, despite a 10% month-over-month increase in average network difficulty. Bitcoin mining difficulty is a measure defining how hard it is to mine a BTC block, with a higher difficulty requiring more hash rate, or additional computing power to verify transactions and mine new coins. According to data from Blockchain.com, BTC network difficulty has been surging to new all-time highs in February, hitting a difficulty rate of 43 trillion on Feb. ...

"We urge @CamelotDEX delete any information related to @OnchainTrade from all of your platforms as soon as possible," wrote OnChain developers. In a dispute that originated Feb. 22, decentralized exchanges (DEXs) Onchain Trade and Camelot terminated an agreement for the former's initial fair offering (IFO), with both firms alleging that the opposing counterparty acted in bad faith. An IFO, whilst still an emerging concept, typically involves promises made by developers consisting of no venture capitalist involvement, no whitelist, no presale, and vast majority of income going to token holders, on top of a traditional initial coin offering.  As told by Onchain, developers began negotiations with Camelot for an IFO, for which the latter charged a fee of 2%, and both parties agreed upon the amount. In addition, Camelot required that Onchain exclusively sell tokens on its platform, to which Onchain also agreed. However, at this point, Onchain alleged that Camelot became ...

Smaller-scale esports organizations have started using blockchain tech for distributing prize pools, but the tech is yet to be adopted by the big tournament organizers. Small esports tournament organizers have started dabbling in blockchain tech to host tournaments and distribute prize pools. However, don’t expect to see it in the big leagues just yet, says an investor. Esports, or electronic sports, is a form of organized competition via video games. Players sometimes referred to as esports athletes usually compete for prize money either individually or as a team. Dave Harris, managing director of esports investment firm Guinevere Capital, told Cointelegraph that he has begun seeing blockchain being used in amateur gaming competitions. In his opinion, however, it will take more time before the big titles and professional tournaments will consider adopting the tech. “There are certainly a lot of places this technology can or is being used in esports, but it will take time for mass ado...

A number of industry pundits believe the U.S. Office of Foreign Assets Control’s threat to impose sanctions has victims thinking twice about paying up. Ransomware victims have seemingly had enough of the extortion, with ransomware revenues for attackers plummeting 40% to $456.8 million in 2022. Blockchain intelligence firm Chainalysis shared the data in a Jan. 19 report, noting that the figures don’t necessarily mean the number of attacks is down from the previous year. Instead, Chainalysis noted that companies have been forced to tighten cybersecurity measures, while ransom victims have been increasingly unwilling to pay attackers their demands. Total value extorted by ransomware attackers between 2017 and 2022. Source: Chainalysis. The findings formed part of Chainalysis’ 2023 Crypto Crime Report. Last year, revenue from Ransomware was a whopping $602 million at the time of the 2022 report, which was later tipped up to $766 million. Chainalysis added that the nature of blockchain m...

Ripple CEO Brad Garlinghouse said the firm's XRP lawsuit could come to an end within "single-digit months." Ripple CEO Brad Garlinghouse expects the firm’s long-running dispute with the Securities Exchange Commission (SEC) will be finalized within “single-digit months” and remains confident in securing a favorable outcome. Speaking to CNBC on Jan. 18 at the World Economic Forum in Davos, Switzerland, Garlinghouse said the verdict could come as soon as June this year now that both parties have “fully filled and fully briefed” their arguments before the U.S. District Court: “We expect a decision from a judge certainly in 2023. You don’t really have control over when a judge makes their decisions. But I’m optimistic that sometime in the coming single digit months we’ll have closure there.” While Garlinghouse and investors believe the facts, law and the court will ultimately side with Ripple, the Ripple CEO also took the opportunity to ridicule the SEC’s “embarrassing” behav...

As part of the plan, Logan Paul stated that he will commit 1,000 ETH to repay disgruntled investors that want to make an exit via burning their CryptoZOO NFTs. YouTuber Logan Paul has unveiled a $1.5 million recovery plan for the people who invested in his beleaguered NFT project CryptoZoo. Announcing the move in a video shared via Twitter on Jan. 13, Paul reiterated that he is no longer looking to sue fellow YouTuber Coffeezilla for defamation over accusations he made in a critical series of videos on Paul’s NFT project. My 3-step plan for CryptoZoo, including a $1.3M rewards program for disappointed players. Thank you, @coffeebreak_YT pic.twitter.com/xFX017UHoc — Logan Paul (@LoganPaul) January 13, 2023 As such, Paul emphasized that he is instead focused on fixing CryptoZoo, delivering on the roadmap and making things right with fans and investors: “The fact is, suing Coffeezilla is not going to help Cryptozoo holders so I do need to focus my attention where it should be, w...

In the letter, SBF denies stealing funds and stashing billions of dollars away. The crypto community has voiced their opinions on former FTX CEO Sam “SBF’ Bankman-Fried’s “pre-mortem overview” of the collapse of FTX he published on Jan. 12 as a letter on Substack.  https://t.co/XVd0BPHxEU — SBF (@SBF_FTX) January 12, 2023 As previously reported by Cointelegraph, SBF denied the allegations made against him in the lengthy letter and maintained that FTX US had been “fully solvent” at the time the firm filed for Chapter 11 bankruptcy, with approximately $350 million in cash available. Bankman-Fried further stated that FTX International had a substantial amount of assets (approximately $8 billion) when John Ray became CEO. According to Bankman-Fried, “No funds were stolen. Alameda lost money due to a market crash it was not adequately hedged for–as Three Arrows and others have this year.” Unfortunately for him, the crypto community seemed unimpressed by SBFs “pre-mortem overview....