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Analysis of token movements from Redditor moderators' wallets suggests at least three moderators dumped thousands of dollars worth of Moon tokens just minutes before the actual announcement. Popular social network platform Reddit announced the wind-down of its blockchain -based community points program on Oct. 17 citing scalability issues. The announcement created controversy in the crypto community with many calling it a rug-pull as the price of the native token on different subreddits tanked after the announcements.  Each subreddit had its own native token . For example, the Moons (MOON) token was the native crypto asset of the r/CryptoCurrency board, while Bricks (BRICK) was for the r/FortNiteBR subreddit. Users could spend these points on badges and exclusive items for their avatars. At the time of the announcement the moderators of most of the subreddits involved with the community points program claimed to be unaware of the decision. However, this is now being called int...

“Circle is delving into the world of Ethereum’s Layer 2, Polygon, to facilitate the direct provision of USDC liquidity within the proof-of-stake scaling protocol. Circle, the stablecoin issuer, has made an exciting announcement, revealing their initiation of minting USD Coin natively on Ethereum’s Layer-2 scaling protocol, Polygon. USDC is now readily accessible to both users and developers, eliminating the need for bridging the stablecoin from Ethereum to another blockchain. The Circle Mint and Circle’s developer application programming interfaces (APIs) have seamlessly integrated with Polygon-based USDC, harnessing Polygon’s remarkable scaling capabilities. As per Circle’s recent announcement, this development opens up a world of opportunities for businesses and developers. They can now construct decentralized applications with USDC on Polygon. This novel offering promises near-instant, low-fee transactions for a myriad of use cases, spanning paym...

In response to new rules by the Financial Conduct Authority (FCA), OKX announced changes to its services for U.K. users, including offering 40 token s. Seychelles-based crypto exchange OKX has responded to strict new rules regulating the advertising of cryptocurrencies in the U.K. by significantly changing its services and offerings for customers in the country. In an Oct. 8 update on its website, OKX stated that it had tailored a compliant user experience in line with the FCA’s new crypto promotion rules.  Starting Oct 8, we will implement changes due to new UK Financial Conduct Authority regulations . The updates ensure compliance with the Financial Promotions Regime for retail users. #OKX will continue to provide crypto services to our UK clients.https://t.co/g3kBL7Yo50 — OKX UK (@okx_uk) October 8, 2023 According to the exchange, one of the major changes it is making is reducing its token offering to slightly more than 40 cryptocurrencies. It will also now implem...

Following this month’s activity related to September’s tokens unlock by Ripple, the company moved another 75 million XRP ($38 million ) on Monday, from which 58 million XRP went to known exchange addresses, probably to be sold on the crypto spot market. Notably, Ripple had already moved 100 million XRP from the 200 million tokens kept after the escrow’s finality. With the most recent activity, there are still 25 million left in the account address tagged as “Ripple 1”, by XRPScan . Following the track of the 75 million XRP Once again, Finbold tracked down these transactions on-chain trails, which followed a very similar pattern to the 100 million tokens moved one week earlier. Passing through the same accounts as before, suggesting they belong to the same owners. In this context, 75 million XRP were sent from “Ripple (1)” to the unknown address “rJqiM…La8nE” on September 18. One and a half hours later, the 75 million were forwarded to “rhWt2…E32hk”. Cryptocurrency...

Arkham Intelligence said the wallet contains approximately $2.54 billion worth of ETH under custody for user balances. Crypto analytics platform Arkham Intelligence has revealed financial services company and crypto trading platform Robinhood as a leading holder of Ether (ETH) and the owner of the fifth -largest ETH wallet, which contains about $2.54 billion of the cryptocurrency. Arkham stated on X (formerly Twitter) that its recognition of Robinhood possessing the third -largest Bitcoin wallet garnered significant attention. However, it said less attention has been paid to its identification of Robinhood as the holder of the fifth -largest ETH wallet. In a separate update, Arkham emphasized that these funds are user balances under custody. The largest Bitcoin (BTC) wallets in the world, according to BitInfoCharts, are reportedly owned by Binance and Bitfinex. Our identification of Robinhood as the owner of the third-largest Bitcoin wallet was widely covered. But most coverage ...

Tokenization has the potential to be transformative for businesses and consumers alike — but there are regulatory and technical hurdles to consider. Entering the “token era” remains a significant leap into uncharted territory for companies, but this doesn’t have to be the case. Brickken, an up-and-coming tokenizing solution, now helps companies to create digital tokens backed by real-world assets –– with zero downtime and instant execution. Cryptocurrencies dominated the 2010s — and so far, artificial intelligence (AI) is the theme of the 2020s. But there’s another buzzword that’s gaining traction, too: tokenization . While there have been major trade innovations over recent decades, New York remains rooted in tradition, with the stock market only open between 9.30 am and 4 pm on weekdays. That’s at odds with the 24/7, digital nature of the 21st-century economy — a world where business never sleeps and TikTok posts carry more influence than newspaper columns. To match that speed of ...

SHIB Token Burn Reflects Shibarium Anticipation Whales within the Shiba Inu ecosystem are doing a lot to help bolster the overall outlook of the protocol ahead of the full launch of the Shibarium L2 on the mainnet. According to data from Shibburn, a total of 581,549,041 SHIB tokens have been sent to dead wallets in the past 24 hours, with active contribution from more than one wallet. advertisement The SHIB token burn metric is a very important one as it gives an insight into how willing large amounts of tokens are deflated from the general supply. As a memecoin with tons of tokens in circulation, defining a steady deflationary model is crucial to attracting the right investor base post-Shibarium launch. The positive sentiment surrounding Shibarium has been in the community for several months now and the need to get onboard the protocol has pushed a lot of enthusiasts to try out the PuppyNet testnet. These trials have in turn contributed to the impressive mil...

Sui was accused of dumping locked and non-circulating staked SUI tokens on Binance. Sui Foundation — the team behind the Sui network and its native SUI token — has denied allegations that the firm un locked SUI staking rewards and “dumped” them on cryptocurrency exchange Binance . The Foundation knocked back the claim in a five-part Twitter thread on June 27, stating that none of the locked or non-circulating tokens, including SUI staking rewards had been sold: "Sui Foundation has not sold staking rewards or any other tokens from locked and non-circulating staked SUI on Binance or otherwise." "All insider token allocations remain subject to and compliant with their lock ups and other restrictions on transfer,” the foundation added. The purpose of this communication is to share information regarding the tokenomics of the Sui Network including the SUI token supply and certain distributions of SUI tokens. Here’s what you need to know: — Sui Foundation (@SuiFoundation...

USDC stablecoin developer Circle will replace the current version of its token with one running natively on the Arbitrum network. Circle recently announced plans for a June 8 launch of a new native version of its USD Coin (USDC) stablecoin on the Arbitrum network. 1/ Circle is launch ing USDC native ly on @Arbitrum on June 8th! Keep scrolling or read the blog to learn more about this launch and how to migrate liquidity from “bridged USDC” to native USDC. https://t.co/tbxSmUvXso — Circle (@circle) June 1, 2023 According to a blog post, Circle will replace the existing version of USDC, an Ethereum-based token that’s been bridged to Arbitrum, with a native token that runs and resides on the Arbitrum network itself: “This will be the official version of USDC that is recognized within the Arbitrum ecosystem and will ultimately replace the currently circulating bridged version of USDC that comes from Ethereum.” Ahead of the launch, Circle plans to rename the existing Ethereum-ba...

The rise of the BRC-20 token market has sparked a flurry of activity. Still, it’s also brought challenges, including fragmented liquidity. One DeFi platform aims to solve these issues, bringing harmony to the BRC-20 ecosystem. Bitcoin’s recent Taproot upgrade birthed a new protocol known as Taproot Ordinals. This innovation now allows users to mint BRC-20 tokens on Bitcoin. While these tokens are still somewhat under the radar, their impact is increasingly evident in Bitcoin transaction numbers. The growing demand has put a strain on Bitcoin, resulting in higher transaction fees. For investors wanting BRC-20 tokens, availability is a key concern. Multiple projects are rising to tackle these challenges, including a decentralized finance (DeFi) platform called ALEX. Fostering DeFi growth In April 2021, entrepreneurs Dr. Chiente Hsu and Ms. Rachel Yu noted the rapid expansion of DeFi and the relative lack of mainstream adoption. To help DeFi mature, they decided to create ALEX, an automa...

On March 8, Euler had over $311 million in crypto locked inside its smart contracts. Its total value locked has since fallen to $10.37 million. Contagion from the Dec. 12 flash loan attack against Euler has spread far and wide, resulting in frozen or lost funds for 11 different decentralized finance (DeFi) protocols, according to Dec. 13 reports from each of them on Twitter. Balancer, an Ethereum protocol with over $1 billion total value locked (TVL), is among the affected protocols. Below is a rundown of the major exploits and what we know so far. Balancer Balancer reported on March 13 that the Euler Boosted USD (bb-e-USD) pool had been affected by the exploit. Approximately $11.9 million worth of tokens from this pool were sent to Euler during the exploit. The balancer emergency subDAO reacted by pausing the pool and putting it into recovery mode. However, over 65% of the pool’s TVL had already been lost by the time it was paused. At 10:00 UTC Balancer contributors became aware of ...

Users initially panned Mithril’s return-of-deposit allegation until an original Binance listing document came to light that raised further questions. On Dec. 15, cryptocurrency exchange Binance announced that four Tokens — Mithril (MITH), Tribe (TRIBE), Augur (REP) and Bitcoin Standard Hashrate Token (BTCST) — would be delist ed from the exchange effective Dec. 22 due to not meeting the “high level of standard we expect.” Immediately after the announcement, decentralized social media protocol Mithril, whose token had a market capitalization of less than $10 million at the time of publication, posted the following statement on Twitter: “Today, Binance has announced that it will delist MITH. As part of the MITH listing, Binance required a 200,000 BNB deposit, which was never returned. On behalf of the Mithril community, we ask @cz_binance to return this deposit so that Mithril may continue to operate.” At the time of the initial listing, 200,000 BNB (BNB) was valued at $1.9 million. As ...