BLOCKCHAIN
Blockchains incorporate several important features such as immutability, encryption and distributed storage, which combined makes secure peer-to-peer transactions possible and in turn has created the means to end human dependence on credit and thus credit intermediaries. Due to these features, blockchain has been referred to as ‘the Trust Machine’ and is forecasted to transfer the trust from agencies and institutions which are enforced by law to machine-based networks guaranteed by technology and mathematics.
Acala Network's aUSD Depegged from Dollar Mark after Breach
Acala Network's stablecoin was depegged from the dollar mark on Sunday following a breach. A vote was proposed to pause operations on Acala after it noticed configuration issues regarding the Horizon protocol, which affects its stablecoin aUSD.
Ethereum Tests $2,000 before Retreating for the First Time since May 31
Ether rose 2% to $2,030.50, topping $2,000 for the first time since May 31, as investors are looking forward to the upcoming Merge upgrade of ETH in September with a positive sentiment.
Bitcoin Regains $25,000 since June, Bearish Tone Remains
The largest cryptocurrency, bitcoin, regained $25,000 since June, with data on Bitstamp’s exchange hitting $25,050, the highest level since June 13.
Applied Blockchain Refinances $15M Credit Facility from a North Dakota-based Bank
U.S. bitcoin mining company Applied Blockchain, Inc has announced that it has entered into a credit agreement with a North Dakota-based bank for a $15 million loan that will expand its crypto mining operations to take advantage of opportunities emerging in the current bear market
Russia's Central Bank Plans to Launch its CBDC-Digital Ruble across all Banks in 2024
The Bank of Russia launched a digital ruble experiment in 2022 to explore business models and innovative use cases for central bank digital currencies (CBDCs).
CFTC Sues Ohio Resident Rathnakishore Giri Fraudster Involving in a $12M Ponzi Scheme
The U.S. Commodity Futures Trading Commission (CFTC) has charged Ohio resident cryptocurrency scammer Rathnakishore Giri and his company with illegally defrauding up to $12 million in a Ponzi-like scheme.
Maven 11 Launches $30m Loan Pool on Defi Lending Protocol Maple Finance
Defi lending protocol Maple Finance has launched a $30 million liquidity pool backed by Netherlands-based crypto-native investment firm Maven 11.
Bullish Sentiment Restores in Crypto Derivatives Markets, Surged to $3.12 Trillion in July
Data shows that investors in the crypto ecosystem have increased their exposure to derivatives markets, with trading volume on central exchanges rising to $3.12 trillion in July, up 13 % from the previous month.
Core Scientific Records $862m Loss in Q2, follows by 10 % Workforce Laid off
Core Scientific announced its second quarter 2022 update and said it was laying off 10% of its workforce as it reported an $862 million quarterly loss due to impairments such as goodwill and digital assets.
KuCoin Pairs with DeFi Data Aggregator 1inch for Implementing Native Swap Function
The Seychelles-based crypto exchange KuCoin has announced a partnership with 1inch DeFi data aggregator to bring native token swap functionality to its in-house wallet.