News

Holdnaut – a Singapore-based yield generation platform – is the latest crypto company to indefinitely freeze user deposits and withdrawals.  Hodlnaut in Trouble In an announcement on Monday, the firm stated that recent market conditions have forced its hand in order to stabilize its liquidity. The pathway to eventually resuming user withdrawals, it claims,  “will not be a short process.” “We would like to reassure you that this difficult decision was taken for us to focus on stabilizing our liquidity…

Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The Crypto Market ends the week at a total market capitalization of $1,094 trillion. Bitcoin has dropped by nearly 3% this week. Ethereum lost almost 1% over the past seven days. XRP is down by nearly 5% this past week. Almost all altcoins are trading in the red, with very few exceptions. The DeFi sector maintains the total value protocols (TVL) at around $40 billion. Crypto…

Tesla founder and CEO Elon Musk reaffirmed his support for the Doge ecosystem in a Friday interview on the Full Send Podcast. Musk who has always been vocal about his preference for the meme token rehashed his reasons for this.  According to the billionaire, Dogecoin has a far greater transactional capacity than king crypto Bitcoin.  DOGE Is a Better Choice in the Long Run Musk highlighted the transaction times of either blockchain to support his argument. Bitcoin processes transactions in…

The Slope Wallet team has promised a 10% bounty to the anonymous hacker who compromised several thousand Slope users’ wallets earlier this week. In return, Slope would like the hacker to return the other 90% of the stolen goods.  A Promise of Safety In a statement on Friday, Slope called on the hackers to examine its bounty offer for the safe return of user funds. It offered a Solana address to which to send those funds, which is yet to…

During a recent Korea-based tech conference, BUIDL Asia, Vitalik Buterin shared his views on the future of stablecoins.  In his statement, the Ethereum co-founder asserted that centralized assets such as USDC and USDT could play key roles in certain prospective hard forks.  How Centralized USDT Could Tie into Hard Forks The event took place on Wednesday, August 3rd, and saw Buterin in attendance to speak about Ethereum’s approaching update, the Merge. Illia Polosukhin, co-founder of Near Protocol was also present…

Muse will launch its latest album, "Will of the People," as a limited-edition NFT on Polygon-powered platform Serenade on August 26. The world-famous British rock band will establish a premiere in the UK and Australian charts by releasing the first-ever, entirely NFT music album. Moreover, the release will only feature 1,000 copies available globally at £20 (around $24.50) apiece. In return for their money, fans will get the band's ninth studio album as a downloadable, high-res FLAC version. Each copy…

Chiliz, the leading blockchain fintech provider, has acquired almost a quarter of FC Barcelona's Barça Studios for over $100 million. The Catalan football club is going through the worst financial crisis in its 123-year history and will use the funds to stay afloat. Moreover, the partnership will help the club dive deeper into the NFT and Metaverse space. FC Barcelona and Socios.com: A Win-Win Collaboration FC Barcelona, one of the most famous and illustrious football clubs worldwide, is desperately looking…

Binance has joined forces with payments network MasterCard to bring prepaid cards to Argentinian customers. Binance believes its new crypto card couldn’t have come at a better time in a country struggling with rising inflation. The major exchange shared the news on Thursday alongside other details of the forthcoming release.  The New Binance Card According to the Binance publication, the joint rollout will be called the Binance Card. New and existing Binance customers in Argentina will access it provided they…

On Wednesday, the Bitcoin banking platform Galoy announced a Bitcoin-based solution for sending, receiving, and storing USD.  Unlike traditional solutions, the “Stablesats” feature does directly integrate fiat currency, nor does it involve issuing a new token, or “stablecoin.”  Rather, Galoy’s service lets users of the Bitcoin Beach wallet effectively “freeze” the value of their Bitcoin to a specific dollar amount. How can this be? How Stablesats Work According to the firm’s explainer video, Galoy stabilizes users’ Bitcoin using financial derivatives…