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The crypto market is currently stable. Meanwhile, investors and traders are keen on THORChain (RUNE), Hedera (HBAR), and Kangamoon (KANG). Summary: THORChain is bullish and trading above all the daily moving averages. Hedera’s trading volume surged 289.70% in the past 24 hours. Crypto analysts are bullish on Kangamoon in the ongoing presale. THORChain is bullish THORChain is an interoperable and decentralized liquidity network enabling coss-chain swapping.  RUNE prices have been steadily rising in the past two weeks, driving trading volume s higher. You might also like: THORChain (RUNE) gains 48% in one week From technical indicators, RUNE is trading above all daily moving averages, a bullish signal. Analysts predict the token to continue rising, hitting $2 or $3 in the days ahead. Hedera unveils stablecoin studio Hedera Hashgraph has launched Stablecoin Studio, a platform that simplifies stablecoin creation without requiring specialized blockchain kno...

Mastercard’s chief digital officer, Jorn Lambert, has stated that the payment giant’s newly launched Multi-Token Network (MTN) has all it takes to unlock the intrinsic value of blockchain technology and accelerate mainstream adoption . Mastercard continues development While the market capitalization of the global crypto space still stands above the $1 trillion mark despite the turbulence it has experienced over the past 12 months, Mastercard, a leading payments processor, says the actual value of blockchain technology is yet to be unlocked. In a July 3 interview with PYMNTS, Jorn Lambert, Mastercard’s chief digital officer, argued that the revolutionary technology’s benefits may not go entirely mainstream “until there exists the ability actually to develop financially-regulated applications” powered by blockchain.  You might also like: Ripple leveraged by Montenegro central bank for CBDC project While many financial institutions have tapped blockchain technology fo...

Gün Sirer says the U.S. “won the first wave of the internet revolution” because it enabled responsible innovation. Now, it must do the same with blockchain. Ava Labs CEO Emin Gün Sirer will be calling on United States officials to “nurture” and “support” responsible blockchain innovation, warning that they face “ disastrous consequences ” if they don't. Gün Sirer’s comments in defense of what he describes as a “revolutionary technology” is part of a testimony that he is scheduled to give to the U.S. House Financial Services Committee on June 13 — the audience will include Chair Patrick McHenry, Ranking Member Maxine Waters and other members in the House Committee. Gün Sirer’s testimony aims to explain how blockchain can “transform society” by making digital services “more efficient, reliable and accessible to all.” My written testimony for the House Financial Services Committee hearing on blockchains and the future of digital assets is now public. You can read it to preview wh...

Cointelegraph Accelerator, Animoca Brands, Cipholio and Brinc will host a Demo Day to introduce seven promising Web3 projects to investors. As numerous Web3 events have reiterated since early 2022, bear markets are ideal times for building. Triggered by the Terra ecosystem crash in May 2022 and aptly named as “crypto winter” following the FTX collapse in November, the current bear market saw the crypto market cap shrinking from $3 trillion to below $1 trillion. While the year-long bear market tore off a good chunk of the market cap, it also presented an opportunity for new ideas to flourish as the industry’s focus shifted from price volatility to innovation . Unfazed by the market conditions, the Web3 ecosystem has continued to build around fresh concepts to prevent the same crashes from happening again and also to find new ways for users to interact with decentralized digital realities. Monthly active developer count since Bitcoin was launched compared to when Ethereum and its smart ...

Decentralized finance protocol CurveDAO has successfully launched its algorithmic stablecoin crvUSD on the Ethereum network. Decentralized finance (DeFi) protocol Curve Finance has launch ed its native algorithmic U.S. dollar-pegged stablecoin , dubbed “crvUSD” on the Ethereum mainnet — minting more than $22 million worth of the crvUSD so far. According to data from blockchain explorer Etherscan, the contract has minted more than $22 million worth of crvUSD in the past 8 hours, with $20 million of that amount minted within the first 5 minutes. Screenshot of crvUSD transaction data. Source: Etherscan The deployment of crvUSD on the Ethereum network is a significant step towards the public release of the algorithmic stablecoin. Notably, the stablecoin remains inaccessible to general users, pending integration with Curve’s front-end user interface on its official website. Responding to a query about when users could expect to see the stablecoin released to the public in the official Cur...

Staked ETH, BNB, ATOM, SOL and MATIC will be usable on Tenet as “restakes” to gain further rewards. A new Cosmos-based blockchain called “Tenet'' will use liquid staking coins from other networks to secure its transactions, potentially allowing the new network to inherit the security of older ones, according to a May 3 announcement from the developers.  The network is currently available as a testnet and will launch a mainnet version as soon as testing is complete. This comes after liquid staking has recently become the largest decentralized finance (DeFi) protocol category. Liquid staking protocols such as Lido, Rocket Pool and Ankr allow users to stake their coins with a network of validators and receive rewards without having to run their own nodes. These protocols also provide users with tokens called “liquid staking derivatives,” or LSDs, redeemable for the underlying deposits and rewards. According to the announcement, Tenet will allow users to “restake” these LSDs to ea...

Along with Google, 11 blockchain firms are now part of the Google Web3 startup program to help accelerate startups. Technology conglomerate Alphabet has expanded the Google for Startups Cloud Program.  As of Apr. 25, the program now includes Web3 firms such as Alchemy, Aptos, Base, Celo, Flow, Hedera, Nansen, Near, Polygon, Solana, and thirdweb. The same day, Blockchain analytics firm Nansen announced that it has partnered with Google Cloud to provide real-time Blockchain data for startup s. Its database currently contains over 250 million wallet labels.  We are very excited to team up with @googlecloud in their Web3 startup program to provide real-time blockchain data Web3 startups in the program get a free month of #NansenQuery & other benefits Learn how it can help YOUR project succeed https://t.co/xU3bZlkOiy — Nansen | Consensus2023 (@nansen_ai) April 25, 2023 Currently, Google Cloud has two product suites for Web3 startups, distinguished by whether the firms have raised ...

CFTC Commissioner Christy Goldsmith Romero has urged crypto companies to verify the digital identity of users, saying that Congress is considering new laws addressing anonymity and digital identity. A commissioner of the United States  Commodity Futures Trading Commission (CFTC), Christy Goldsmith Romero, has proposed reducing the anonymity of Cryptocurrencies as a means of managing the risks associated with digital assets. The statement was made during the keynote speech on Illicit Finance and Other Key Risks of Digital Finance at City Week 2023 in London on April 25. Romero stresses the need for governments and the industry to tackle the primary feature that makes cryptocurrencies appealing to illicit finance — anonymity. In her speech, Romero said that the risks associated with digital assets must be managed, as market integrity, national security and financial stability are crucial and cannot be compromised.  Reducing illicit finance risks in the cryptocurrency market requires ...

Binance said retiring old deposit addresses on multiple blockchains was part of its infrastructure upgrade, and new addresses will offer better security and efficiency. The world’s largest cryptocurrency exchange by trading volume, Binance is disabling multiple old deposit addresses as part of its infrastructure upgrade. In an announcement on April 18, Binance said it would retire selected deposit addresses and memos in batches on multiple blockchains, including Ethereum (ETH), Tron (TRX), BNB and Stellar (XLM). The crypto exchange said that the retirement of old addresses is a routine and a part of enhancing security and efficiency for the users . List of retired deposit addresses on various blockhain networks. Source: Binance The users of these impacted deposit blockchain addresses will be notified via email and the exchange strongly encouraged that all impacted users obtain a new address and memo upon receiving the notification. The notification email will include the expirat...

The American billionaire is being sued for $258 billion in a racketeering lawsuit alleging Musk ran a pyramid scheme to support Dogecoin. On Apr. 3, social media giant Twitter change d its icon to that of the symbol on the popular meme token Dogecoin (Doge). Just two days prior, Elon Musk, CEO of Twitter and Tesla, asked a U.S. judge to dismiss a $258 billion lawsuit filed by investors alleging the operation of a pyramid scheme to promote Dogecoin. The Twitter icon as it appears at the time of publication (Twitter) Dogecoin is up sharply in light of the news, with its price surging by more than 22% in the past hour to $0.09784 apiece. The icon change took place platform-wide and is directly visible by the social media giant's estimated 360 million monthly active users, and visitors to the platform alike. Musk's lawyers reportedly argued that "funny pictures" and "tweeting words of support" do not amount to a fraud claim. This is a developing story and w...

The vulnerability has since been patched, although it affected a number of leading transaction simulation vendors. According to a blog post published by developers of crypto wallet ZenGo, the firm said it had uncovered security vulnerabilities in, transaction simulation solutions used by popular decentralized applications, or dApps. Dubbed the "red pill attack ," this vulnerability allowed malicious dApps to steal user assets based on opaque transaction approvals offered to and approved by users. The vulnerability derives its name from the iconic "red pill" scene from The Matrix movie series.  "If malware is able to detect its actually being executed in a simulated environment or living in the matrix, it can behave in a benign manner, thus deceiving the anti-malware solution, and reveal its true malicious nature only when actually executed in a real environment." ZenGo claimed its research revealed that many leading vendors, including Coinbase Wallet,...

Debtors jumped on the opportunity to grab a discount on their loan repayments when USDC and DAI de-pegged from the dollar. The depegging of USD Coin (USDC) and Dai (DAI) from the United States dollar prompted a frenzy of loan repayments over the weekend, allowing debtors to save a total of more than $100 million off their loans. Following the collapse of Silicon Valley Bank (SVB) on March 10, the USD Coin (USDC) price dropped to lows of $0.87 on March 11 amid concerns about its reserves being locked at SVB. MakerDAO’s stablecoin DAI also depegged briefly, going as low as $0.88 on March 11, according to CoinGecko. The USDC price briefly dropped to lows of $0.87 on March. 11. Source: Cointelegraph The depegging, in the backdrop of broader crypto turmoil, led to more than $2 billion in loan repayments on March 11 on decentralized (DeFi) lending protocols Aave and Compound — with more than half made in USDC, according to a report by digital assets data provider Kaiko.  Another $500 milli...

The algo-stablecoin Djed from DeFi service provider COTI deployed on the Cardano mainnet after its successful security audit. Since the fall of the Terra (LUNA) algorithmic-stablecoin in mid-2022, many users in the crypto space have developed a weariness towards that particular asset class. The market for algorithmic stablecoins has dropped 10 times what it was at its all-time high prior to the Terra incident. However, this has not stopped developers on the Cardano network pushed forward with the launch of the ecosystem’s overcollateralized stablecoin. Djed (DJED) launched on the Cardano mainnet on Jan 31. and is pegged to USD and backed by Cardano’s native coin ADA (ADA). It uses the SHEN token as its reserve coin. According to the announcement the new token recently completed a successful security audit and was under development for over a year. DJED is a product of Coti, a decentralized financial (DeFi) solutions developer on the Cardano blockchain, as a means for new DeFi and pa...

Among the nonfungible tokens (NFTs) stolen from the PROOF co-founder were 25 Chromie Squiggles and one Autoglyph NFT. Kevin Rose, the co-founder of the nonfungible token (NFT) collection Moonbirds, has fallen victim to a Phishing scam leading to more than $1.1 million worth of his personal NFTs stolen. The NFT creator and PROOF co-founder shared the news with his 1.6 million Twitter followers on Jan. 25 asking them to avoid buying any Squiggles NFTs until they manage to get them flagged as stolen. I was just hacked, stay tuned for details - please avoid buying any squiggles until we get them flagged (just lost 25) + a few other NFTs (an autoglyph) ... — KΞVIN R◎SE (,) (@kevinrose) January 25, 2023 “Thank you for all the kind, supportive words. Full debrief coming,” he then shared in a separate tweet about two hours later. It is understood that Rose’s NFTs were drained after signing a malicious signature that transferred a significant proportion of his NFT assets to the exploit...

The current whereabouts of the funds remain unknown. According to a Bloomberg report published on Dec. 27, the U.S. Department of Justice has launched an investigation into the whereabouts of approximately $372 million in missing digital assets from now-defunct cryptocurrency exchange FTX and FTX US. On Nov. 12, amidst bankruptcy and internal collapse, FTX warned customers of abnormal wallet activity regarding at least 228,523 Ether (ETH) transferred out of the exchange from an unknown perpetrator.  On Nov. 11, or the night of the company's bankruptcy filing, FTX US' general counsel Ryne Miller confirmed that the transactions were unauthorized and that the subsidiary exchange had moved all crypto to cold wallets as a precaution. On Nov. 20, Blockchain forensics firm Elliptic wrote that the unauthorized transfers amounted to $477 million, and the unknown perpetrator swapped the stolen Ether for RenBTC, before being bridged to Bitcoin through the RenBridge service. Ren was acqu...

Peter Smith said the hardest thing to trace was the funds that enter the banking system. Blockchain.com's founder and CEO, Peter Smith, believes on-chain analytics will play a significant role in locating the missing FTX funds, though it will have its limitations. On Dec. 20, Fox Business host Liz Claman said that blockchain’s selling point was that it makes crypto transactions transparent and traceable, asking Smith the question of what it could trace in the case of FTX’s missing customer funds. Smith said that blockchain sleuths have already done a fair bit of work in chasing the money trail, adding that it could in fact be the banking system where the trail could turn cold: “The most challenging thing for [blockchain analytics] firms working on this today is when money moves off chain and into the banking system because they’re no longer able to track it.” He cited an example of when Sam Bankman-Fried or associates purchased real estate as that would have originated from a ban...

The news comes after Amber Group reportedly pulled back expansion plans due to financial exposure in the FTX collapse. Cryptocurrency trading firm Amber Group, which had roughly 10% of its trading capital stuck on FTX at the time of the exchange’s collapse, has report edly acquired crypto currency platform , Sparrow Holdings according to an announcement on Dec. 14. The Singaporean crypto platform Sparrow Holdings, which offers digital assets products and solutions, acquired its payments license from the Monetary Authority of Singapore in August, to provide Digital Payment Token (DPT) services in Singapore, under the Payment Services Act (PSA). Founded in 2018, Sparrow works with financial institutions and family offices in designing bespoke digital asset solutions to achieve customer-centric growth objectives, while maintaining compliance requirements.  Related: Amber Group uses simple hardware to show just how fast, easy the Wintermute hack was The news of Amber Group's acqui...