Author: Andrei Ionescu

Arbitrum One, a Layer 2 optimistic rollup for Ethereum, has achieved a significant milestone, surpassing 1 billion transactions since its mainnet launch in August 2021. This achievement comes within three years, reflecting Arbitrum’s growing dominance in the Layer 2 space. According to Blockscan data, Arbitrum’s competitor Base, incubated by Coinbase, has recorded 755 million transactions, while OP Mainnet has registered 347 million transactions. Despite the competition, Arbitrum maintains the highest total value locked (TVL) among Layer 2 networks, with $2.5 billion, according to DeFiLlama. Base follows closely with $2.2 billion in TVL. How Arbitrum Works Developed by Offchain Labs, Arbitrum…

Curve Finance, a leading decentralized exchange (DEX) for stablecoin trading, is considering removing TrueUSD (TUSD) as collateral for its native stablecoin, Curve USD (crvUSD). The move comes after growing concerns over TUSD’s regulatory and transparency issues, including recent charges by the U.S. Securities and Exchange Commission (SEC) accusing TrueUSD’s original issuer of defrauding investors. The proposal, submitted by a user named WormholeOracle, suggests reducing the upper limit for TUSD backing crvUSD to zero, meaning TUSD would no longer be allowed to support the issuance of crvUSD. The proposal also recommends reducing crvUSD’s minting capacity using PayPal’s stablecoin, PYUSD, from $15…

U.S. spot Bitcoin exchange-traded funds (ETFs) continued their inflow streak, posting a fifth consecutive day of net inflows on Wednesday, totaling $105.84 million. According to data from SoSoValue, BlackRock’s IBIT, the largest Bitcoin ETF by net assets, reported the highest daily net inflows of $184.38 million. Bitwise’s BITB was the only other fund to register positive flows, with $2.07 million in net inflows. However, several funds faced outflows. Ark Invest and 21Shares’ ARKB recorded $47.41 million in net outflows, while Fidelity’s FBTC saw $33.19 million withdrawn. The other eight funds, including Grayscale’s GBTC, had no net inflows or outflows for…

Swiss equity tokenization specialist Aktionariat AG has partnered with digital asset infrastructure provider Taurus SA, according to a joint announcement on today. The collaboration aims to advance the tokenization of Swiss companies’ equity and offer enhanced trading solutions through Taurus’ digital exchange platform. Under the agreement, Taurus will offer services for select Ethereum-based tokenized shares issued by Aktionariat. In return, Aktionariat will give its client companies access to list their tokenized shares on Taurus Digital eXchange (TDX), a platform designed for institutional and retail investors. The project is set to launch in November. The partnership seeks to boost liquidity and…

IoTeX, a decentralized physical infrastructure network (DePIN), has partnered with Polygon Labs to integrate its IoTeX 2.0 blockchain with AggLayer, a move aimed at boosting cross-chain communication and liquidity for DePIN projects. The collaboration was announced at the R3al World event in Singapore by IoTeX CEO Raullen Chai and Polygon co-founder Sandeep Nailwal. This integration will enable IoTeX-based projects to distribute rewards and allow users to settle on the chain of their choice. AggLayer’s capabilities will provide enhanced cross-chain support, unlocking liquidity and scaling opportunities for DePIN initiatives. “This integration not only enhances cross-chain capabilities but also unlocks unprecedented liquidity…

BlackRock’s IBIT spot Bitcoin exchange-traded fund (ETF) recorded its first daily net inflows since August 26, marking a pivotal shift with $15.8 million in inflows on Monday. This ends a three-week period without positive flows, including 11 trading days of zero activity and two days of net outflows on August 29 and September 9. According to CoinGlass, several other spot Bitcoin ETFs also saw gains, including Fidelity’s FBTC, Franklin Templeton’s EZBC, and VanEck’s HODL, which collectively garnered net inflows of $5.1 million, $5 million, and $4.9 million, respectively. Conversely, Grayscale’s GBTC, known for its higher fees, saw a return to…

Binance has issued a public statement addressing misleading claims made by Zettai, the parent company of WazirX, in light of recent events involving a cyber-attack on the WazirX platform. Binance clarified its non-involvement with WazirX’s operations, emphasizing that Zettai and WazirX management must be held accountable for the loss of user funds resulting from the attack. On July 18, 2024, WazirX reported a cyber-attack that compromised a wallet holding user funds. The wallet was controlled by a multisignature process involving five members of the WazirX team and one representative from Liminal, a third-party custody provider. Binance was not involved in…

Binance announced that it will delist a series of margin trading pairs on September 24, 2024, as part of its regular updates to improve the trading experience. The following pairs will be removed from Binance’s margin trading services: Key Dates: Users are advised to manage their positions ahead of the delisting date to avoid disruptions. Binance encourages users to close positions and transfer funds from Margin Wallets to Spot Wallets before the margin trading ceases. Trading of the affected assets will still be available via other pairs on Binance Margin. Binance emphasizes that it will not be liable for any…

In a strategic move to enhance crypto trading capabilities, Exodus Movement (EXOD) has teamed up with Ledger, a leading blockchain hardware manufacturer, to launch a new crypto swap aggregator. The partnership, announced Tuesday, introduces the XO Swap feature, which will be integrated into the Ledger Live application. XO Swap will allow users to swap across thousands of cryptocurrency pairs directly from their self-custody wallets by connecting to third-party exchange APIs. This new feature emphasizes user control and security, distinguishing itself from traditional centralized exchanges by enabling on-chain swaps. “This integration prioritizes user control and security, setting it apart from centralized…

Bitcoin (BTC) mining stocks suffered in the first half of September as the cryptocurrency’s price remained below $60,000, while the network’s hashrate surged, according to a JPMorgan research report released on Monday. The report highlights that Bitcoin’s hashrate a measure of the total computational power used to mine and validate transactions rose by 4% this month, returning to pre-halving levels. The increase in hashrate signals growing competition in the mining industry. However, this rising hashrate is pressuring profitability, with the hashprice, or miners’ daily earnings, falling by 2% month-to-date and now sitting at 50% below pre-halving levels. JPMorgan analysts Reginald…