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Cryptocurrency News Articles
Kujira Proposes DAO to Address Liquidity and Security Challenges
Aug 03, 2024 at 12:24 am
Kujira, a DeFi platform, recently faced challenges after deploying operational funds to improve ecosystem liquidity and activity. This move led to exploits, attacks, and market instability. In response, Kujira announced plans to establish the Kujira Operational DAO to manage the treasury and core protocols, aiming to safely reduce debt.
Kujira encountered challenges after deploying operational funds to enhance ecosystem liquidity and activity, leading to exploits, attacks, and market instability. In response, Kujira announced plans to establish the Kujira Operational DAO to manage the treasury and core protocols, aiming to safely reduce debt.
The team acknowledged responsibility for the situation while refuting claims of a “rug pull.” They clarified that 14 million KUJI tokens remain secured in the treasury. Kujira intends to offer discounted KUJI via Fuzion's Bonds product, with varying maturities and vesting schedules to minimize long-term price impact.
The Montenegro Appellate Court has upheld its decision to extradite Terraform Labs founder Do Kwon to South Korea, concluding a complex legal process. The ruling confirms the June 28 decision of the Higher Court in Podgorica, which granted South Korea’s extradition request while rejecting a concurrent request from the United States.
The court’s decision is based on Montenegro’s Law on International Legal Assistance in Criminal Matters. The court cited the order of received requests and other legal criteria as reasons for prioritizing South Korea’s claim over the U.S. request, despite both countries meeting the legal requirements for extradition.
Bybit, a cryptocurrency exchange, will cease operations in France on August 2, 2024, in response to the EU’s Markets in Crypto-Assets (MiCA) framework. From August 13, 2024, French users will only be able to withdraw funds, with no new transactions allowed. The exchange, blacklisted by France’s financial regulator since 2022, will discontinue all services including Bybit Earn and spot trading for French accounts.
U.S. Spot Bitcoin ETFs reported net inflows of $50.64 million on Thursday, while Spot Ether ETFs saw $26.75 million in net inflows. Grayscale’s new Bitcoin Mini Trust led with $191.13 million in inflows, followed by BlackRock’s IBIT. The total daily trading volume for bitcoin ETFs reached $2.91 billion.
Ethereum ETFs saw varied performance, with BlackRock’s ETHA leading inflows at $89.65 million, while Grayscale’s ETHE experienced significant outflows. Overall trading volume for Ethereum ETFs has declined since their July 23 debut. The spot bitcoin products have accumulated a total net inflow of $17.74 billion since January.
Coinbase shares increased 3.2% in after-hours trading following the release of its Q2 results. The crypto exchange reported $1.4 billion in revenue for the quarter, along with a significant year-on-year increase in crypto trading volume.
Consumer and institutional trading volumes reached $266 billion, aligning with analyst estimates and showing growth from the previous year, though it was lower than the $312 billion reported in Q1.
The company’s revenue saw the most substantial gains in subscription and services, which includes stablecoin revenue, blockchain rewards, and fees. This segment increased 17% from Q1 and nearly doubled compared to Q2 2022. Coinbase partly attributed this rise to its role as a custodian for several asset managers issuing spot Bitcoin ETFs. Transaction revenue, derived from crypto trading activity, doubled from Q2 2023 to $780.9 million, although it decreased from Q1 2024.
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- PolitiFi Meme Coins: A New Alternative to Animal-Themed Tokens
- Sep 24, 2024 at 02:20 pm
- PolitiFi cryptos stands out as meme coins whose themes relate political movements and personalities. In a rapidly evolving world of meme coins, these tokens serve as another major alternative to animal-themed tokens, intertwining the concept of politics with the world of finance.
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- RAIR Technologies Selected for Denarii Labs Accelerator Program Targeting Web3 Startups
- Sep 24, 2024 at 02:20 pm
- RAIR Technologies, an open-source platform specializing in the development of decentralized Web3 applications, has been selected for the Denarii Labs Accelerator program.
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- Infinet (INFI): A New Entrant to the Cryptocurrency Market Worth Taking a Closer Look At
- Sep 24, 2024 at 02:20 pm
- As a new entrant to the cryptocurrency market, known as INFI, it is worthy to take a closer look at Infinet. It has indeed attracted the concern of the client in the crypto market as a new entrant with some unique characteristics and prospects.
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- Grayscale Ethereum Trust (ETHE) Suffers Largest Single-Day Outflow of $80M Since July 29
- Sep 24, 2024 at 02:10 pm
- Over $79 million was withdrawn from nine US spot Ethereum ETFs on Monday, the largest single-day outflow since July 29, according to data tracked by Farside Investors.
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- Baby Doge and Popcat Are Seeing Huge Gains, But Analysts Are Talking About Cutoshi, a New Memecoin That Has a Lot of Utility and Strong Potential for This Year
- Sep 24, 2024 at 02:10 pm
- The memecoin season is just starting, but some tokens are already ahead of the curve. Baby Doge and Popcat are seeing huge gains.
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- Polkadot (DOT), Solana (SOL), Ripple (XRP), Shiba Inu (SHIB) Price Analysis and News
- Sep 24, 2024 at 02:10 pm
- Polkadot had a solid performance, rising 2.15% in the past 24 hours and accumulating gains of 6.55% over the past week.
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- Claim $NFT or Stay Broke: Your Choice!
- Sep 24, 2024 at 02:10 pm
- How to claim APENFT Airdrop: Quick Guideline
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- South Africa Traders Fair 2024 Concludes in Johannesburg
- Sep 24, 2024 at 12:45 pm
- The South Africa Traders Fair, organised by FINEXPO, concluded on 21 September 2024 at the renowned Protea Hotel Johannesburg Wanderers, marking a major success.
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- Internet Computer (ICP), Sui (SUI), and BlockDAG (BDAG) Making Headlines as Cryptocurrency Market Nears Bull Run
- Sep 24, 2024 at 12:15 pm
- The cryptocurrency market may be on the brink of another bull run, and three coins are currently making headlines: Internet Computer (ICP), Sui (SUI), and BlockDAG (BDAG).