Monday, May 16, 2022
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Latest Updates

Chainalysis Valued at $8.6B Following $170M Round

Krasimir Buchvarov -
  • The Series F round has more than doubled Chainalysis' valuation since last year, which is not surprising considering it has increased its customer base by 75%.
  • The company has claimed that its various tools are now responsible for monitoring around $1 trillion worth of transactions each month.
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Cryptocurrency
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Krasimir Buchvarov -
  • The Series F round has more than doubled Chainalysis' valuation since last year, which is not surprising considering it has increased its customer base by 75%.
  • The company has claimed that its various tools are now responsible for monitoring around $1 trillion worth of transactions each month.
Read more

Latest Updates

KuCoin Raises $150M, Announces Web3 Expansion

Krasimir Buchvarov -
  • KuCoin's $150 million pre-Series B funding round was led by Jump Crypto, and increased the valuation of the company to $10 billion.
  • KuCoin will use the funds to expand its product offerings, as well as build and invest into DeFi, GameFi, NFT, and crypto wallet platforms.
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Meta to Start NFT Tests on Instagram This Week

Krasimir Buchvarov -
  • Mark Zuckerberg revealed that Instagram will be the first app under Meta's control to start NFT tests, and that Facebook could soon see a similar functionality.
  • Meta's CEO also noted that the company was working on augmented reality NFTs, which will allow users to place their digital art into physical spaces.
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Adoption
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Gucci to Accept Crypto Payments in Select U.S. Stores

Krasimir Buchvarov -
  • The crypto payment feature will be rolled-out in five Gucci stores, located in New York, Los Angeles, Miami, Atlanta, and Las Vegas, by the end of the month.
  • Gucci plans to accept 12 cryptocurrencies, namely BTC, ETH, wBTC, LTC, SHIB, DOGE, and five dollar-backed stablecoins.
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FIFA Welcomes Algorand as Official Blockchain Sponsor

Krasimir Buchvarov -
  • The blockchain has become the regional supporter in North American and Europe for the 2022 World Cup, and also the official sponsor of the Women's World Cup in 2023.
  • The partnership will see Algorand help FIFA further develop its digital asset strategy, and also provide it with an official wallet solution.
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Krasimir Buchvarov -
  • The blockchain has become the regional supporter in North American and Europe for the 2022 World Cup, and also the official sponsor of the Women's World Cup in 2023.
  • The partnership will see Algorand help FIFA further develop its digital asset strategy, and also provide it with an official wallet solution.
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Exchanges
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Binance Blocks Accounts of Relatives of Russian Government Officials

Krasimir Buchvarov -
  • The accounts of Elizaveta Peskova, daughter of spokesman Dmitry Peskov, Polina Kovaleva, stepdaughter of Sergei Lavrov, and Kirill Malofeev, son of oligarch Konstantin Malofeev, have already been closed.
  • Last week the exchange had also implemented new stricter rules for Russian users with crypto holdings of more than €10,000, following the latest sanctions on Moscow from the E.U.
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Deus Finance Exploited for $13.4M in Flash Loan Attack

Krasimir Buchvarov -
  • Blockchain security firm PeckShield noted the attacker used a $143 million flash loan to inflate the price of DEI, allowing him to steal $13.4 million from Deus Finance.
  • This is the second time in two months that a malicious entity had used a flash loan exploit to manipulate the price of digital assets on the DeFi platform.
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Gibraltar to Combat Crypto Market Manipulation With New Rules

Krasimir Buchvarov -
  • The legislation will implement new standards for crypto market integrity in Gibraltar, designed to combat insider trading and market manipulation in the sector.
  • DLT providers will now be required to seek out and prevent insider trading, and the publication of misleading information aimed at manipulating the crypto market.
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Adoption
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Fidelity to Offer BTC Exposure to 401(k) Savings Accounts

Krasimir Buchvarov -
  • Once the change has been implemented, more than 23,000 U.S.-based companies could allow their employees to invest in BTC through their 401(k) retirement savings accounts.
  • Fidelity plans to release the new option later this year, allowing 401(k) account holders to invest up to 20% of their portfolio in BTC.
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KuCoin Launches $100M NFT Creators Fund

Krasimir Buchvarov -
  • The $100 million Creators Fund was launched by the company's venture arm, KuCoin Ventures, and its newly launched NFT marketplace, Windvane.
  • It will support a wide range of NFT projects, such as art, sports, profile pictures (PFPs), Asian culture, celebrities, GameFi, and others.
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Beanstalk Farms Loses $182M Following Exploit

Krasimir Buchvarov -
  • A flash loan allowed the attacker to obtain enough Beanstalk governance tokens to pass two proposals, enabling him to drain the protocol's funds.
  • The malicious entity was able to steal 24,830 ETH and 36 million BEAN tokens, which were then laundered through TornadoCash.
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Editors' Picks

Wikipedia Bans Crypto Donations, Closes BitPay Account

  • The proposal to block crypto donations was made back in January, and a recent vote showed that 71% of the community supported the idea.
  • As part of the decision, the Wikimedia Foundation revealed it will be closing down its account with BitPay, its crypto payment service partner.
Cryptocurrency
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Krasimir Buchvarov -
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Goldman Sachs Approves First BTC-Backed Loan

Krasimir Buchvarov -
  • A Goldman Sachs spokesperson noted that the deal was particularly interesting because of its unique structure and 24/7 risk management.
  • The move comes at a time when Wall Street firms have started to increase their involvement in the crypto space.
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Cuba’s Central Bank to License VASPs Starting May

Krasimir Buchvarov -
  • The license will be available for individuals as well as organizations and will be valid for a year, though its validity can be extended for a second year.
  • VASPs that fail to comply with the new licensing regime will face penalties in line with existing banking rules and regulations.
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Binance.US Acquires Money Transmitter License in Puerto Rico

Krasimir Buchvarov -
  • With this license, Binance.US now operates in 45 states and seven territories of the U.S., moving it a step closer to its goal of providing services in all states and territories.
  • Binance.US CEO Brian Shroder noted that this license was important to the exchange, as Puerto Rico is a particularly important market for the growth of crypto.
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Tornado Cash to Use Chainalysis to Block OFAC Sanctioned Addresses

Krasimir Buchvarov -
  • Roman Semenov, co-founder of Tornado Cash, explained that the blockade only applies to the platform's frontend, and not the underlying smart contract.
  • The news came only a day after the Treasury Department alleged that North Korean hacker group Lazarus was connected to the $625 million Ronin bridge hack.
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Guides

DeFi
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How to Find The Best DeFi Pools For Your Assets

Doncho Karaivanov -
  • Investment opportunities in defi are innumerous, but finding the best hasn't been an easy task thus far.
  • Yield Samurai is a decentralized finance data aggregator that helps investors find the highest-yielding pools in a few clicks.
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How to Explore Historical DeFi Data

Doncho Karaivanov -
  • Yield Samurai is a decentralized finance historical data aggregator.
  • It allows people to explore pool prospects on different platforms and apps to find the best place to earn interest on cryptoassets.
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Impermanent Loss Explained With Examples & Math

Doncho Karaivanov -
  • Learn what impermanent loss is, how it manifests, and how to calculate it.
  • We use several examples and formulae for both standard and complex AMM-based pools to examine, explain, and plot impermanent loss.
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How to Leverage Yield Farming on Alpha Homora – The Simple Guide

Doncho Karaivanov -
  • Learn how Alpha Homora works, how to open a leveraged position and earn more with the same amount of assets, and how to manage your positions.
  • We also explain how to choose a pool to leverage, the rules of leveraging on the platform, and how to calculate possible scenarios.
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How to Farm QUICK on QuickSwap – The Simple Guide

Nikolay Nikov -
  • This article will teach you how to take advantage of one of the most lucrative liquidity mining programs on the market right now, while saving money on transaction fees.
  • We will take you through the strange but fascinating world of multiple network bridges and AMM quirks so you can have a seamless experience using the Layer-2 based exchange.
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Opinion

The New COVID Variant and Market Reactions – What Does it Mean for Bitcoin

Nikolay Nikov -
  • A typical store of value would outperform riskier assets during moments of recession fears. Bitcoin has historically done the opposite.
  • Given the performance of cryptocurrencies during fearful markets, their place in a portfolio is the one for high-risk, high-reward assets.
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The Rise of Bancor

Doncho Karaivanov -
  • The exchange was the first to prove the feasibility of AMM, but has since struggled to compete with other DeFi platforms.
  • However, through the introduction of several smart features and innovations, notably single-sided exposure, Bancor is surging among the DeFi ranks.
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The Blockchain-Enabled Elections Of The Future

Doncho Karaivanov -
  • We now have the technology to immutably store and process data in a trustless environment, yet we still resort to paper ballots as the fundamental ingredient for elections.
  • In a blockchain-enabled future, voting will be as simple as withdrawing money from an ATM, and processing election results will be finished in minutes.
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Opinion: How Will Crypto Markets React To The Second Wave Of COVID-19?

Jack Beavers -
  • As several countries have already entered the second period of lockdown, many parts of the world are bracing for a long winter of isolation.
  • How will this affect crypto markets this time around, and how will it differ from the first lockdown?
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Opinion: Why The $100,000 Harvest Finance Bounty Is Absurd

Doncho Karaivanov -
  • Only if we put ourselves in the shoes of the attacker can we find a possible angle of negotiation in a bid to recover more from the 13 million USDC and 11 million USDT that were profited from the arbitrage scheme.
  • Although the Harvest Finance team has acted responsibly in the face of an unprecedented-to-the-project crisis, their bounty reward initiative is naive.
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