life lived

Unable to type with boxing gloves on. Thinker.

[life lived @life1960]

📣 Crypto Traders Eye $6.8B Bitcoin and Ether Options Expiry

- The bullish buzz returned to the crypto market last week as bitcoin (BTC), the leading cryptocurrency by market value, jumped more than 15% in its best performance since March. Now a significant event looms on the horizon. On Friday at 08:00 UTC some 150,633 bitcoin options contracts worth $4.57 billion and 1.23 million ether contracts valued at $2.3 billion will expire on Panama-based Deribit exchange, which controls over 85% of the global options activity.

- In bitcoin's case, investors have recently bought call options with strike prices at and above $30,000. As a result, that level has the highest open interest – or the number of active contracts – and market makers/dealers, who create order book liquidity by taking the other side of the investors' trades, hold a significant amount of "negative (short) gamma" exposure. Options are derivative contracts that give the purchaser the right to buy or sell an asset at a predetermined price at a later date. A call gives the right to buy, a bullish position, and the put confers the right to sell, a bearish position. Being short (negative) gamma means holding a short or sell position in the call or put options.
#Crypto #bitcoinnews

[life lived @life1960]

💰 Over $1 billion inflows into Solana in a day

- As the cryptocurrency market continues to trade sideways, the decentralized finance (DeFi) platform Solana (SOL) has emerged as one of the standout tokens. In this regard, SOL has experienced significant buying pressure in the last 24 hours. By press time, Solana controlled a market capitalization of $8.96 billion, reflecting an inflow of $1.02 billion within the last 24 hours. The buying pressure has also influenced the asset’s price trajectory, comfortably holding above the $20 support level.

- Currently, SOL is valued at $22.17, with daily gains of nearly 12%. On the weekly chart, Solana has seen an increase of over 20%. While Solana has generally moved in tandem with the overall market, the recent surge in asset price lacks a specific identifiable catalyst. However, it is worth noting that the asset’s gains align with significant network partnerships. One notable instance is the announcement of collaboration between Coca-Cola (NYSE: KO) in Serbia and Solana NFT platform SolSea for a non-fungible token (NFT) offering during a music event. As part of this deal, the beverage company will distribute 100 limited edition hoodies accompanied by NFTs to select participants.
#Solana #DeFi

[life lived @life1960]

🇫🇷 Société Générale’s Crypto Division Granted First License For Crypto Services In France

- Société Générale’s cryptocurrency division, SocGen Forge, has made history as it becomes the first company to receive a license from France’s financial regulator, Autorité des Marchés Financiers (AMF), to offer cryptocurrency services in the country. The license obtained by SocGen Forge allows the division to provide a range of digital asset services, including custody, buying and selling, exchange, and the receipt and transmission of third-party orders for digital assets. This regulatory approval gives SocGen Forge the necessary framework to operate within the French market.

- In April, SocGen Forge launched its own stablecoin called EURCV (EUR CoinVertible) on the Ethereum blockchain. This stablecoin, backed by the euro, provides a reliable and transparent digital asset for on-chain transactions. The issuance of a stablecoin by a subsidiary of a global systemically important bank (G-SIB) on a public blockchain further demonstrates SocGen Forge’s commitment to innovation and its willingness to embrace the potential of blockchain technology. SocGen Forge has been at the forefront of blockchain adoption and has previously played a significant role in groundbreaking initiatives. It provided the infrastructure for the first blockchain bond issued by the European Investment Bank (EIB) on the Ethereum network.
#Ethereum #cryptocurrency

[life lived @life1960]

🏦 Coinbase Plans To Seek Full Dismissal Of SEC Lawsuit From Court This Friday

- Coinbase is set to take action against the U.S. Securities and Exchange Commission (SEC) by filing an order seeking dismissal of the lawsuit on August 4. The company’s Chief Legal Officer, Paul Grewal, conveyed confidence in their defense during the second-quarter earnings call held on August 3. Additionally, he highlighted that the SEC lacks regulatory authority over cryptocurrency exchanges and had not indicated any requirement for registration when Coinbase’s registration statement was deemed effective in April 2021.

- The company’s Chief Executive, Brian Armstrong, also spoke out against the SEC’s approach, criticizing its regulation by enforcement tactic instead of participating in rulemaking. Despite the ongoing legal battle, the exchange reported impressive second-quarter earnings on Thursday, exceeding analysts’ expectations with a revenue of $708 million. However, the company did report a loss of $0.42 per share for the same period. The legal battle between Coinbase and the SEC ensued in June when the regulator accused the exchange of trading at least 13 crypto assets without proper registration as securities. Along with its rival Binance, Coinbase allegedly operated as an unregistered securities exchange, leading to the SEC’s legal action.
#Coinbase #SEC

[life lived @life1960]

🐸 PEPE Token Heist: Former Team Members Swipe $15 Million in Tokens, Lead Developer Vows to Rebuild and Decentralize

- Approximately 16 trillion PEPE tokens worth $15 million were illicitly transferred to crypto exchanges and sold, according to an announcement from the meme coin’s anonymous lead developer. The theft was allegedly orchestrated by three former team members who accessed the token’s multi-signature wallet before removing themselves from the project. Despite this setback, the lead developer has promised to continue moving the project forward and to fully decentralize it.

- The purported thieves reduced the required signer count for transactions from the wallet to just 2 out of 8 before draining the address of approximately 60% of its holdings. After the funds were obtained, they deleted their social media accounts and disassociated themselves from the PEPE project, the lead dev’s statement claims. Despite this major setback, PEPE’s lead developer is promising to continue developing the meme coin and says the remaining 10 trillion PEPE tokens in the compromised multi-sig wallet are now secure. The developer plans to transfer those tokens to a new wallet and eventually burn all of them to fully decentralize the meme token project.
#PEPE #crypto

[life lived @life1960]

🪙 USDC Supply Plummets by $200M, Leaving Markets In Awe

- Circle has executed a strategic move that has reduced the circulation of its USDC stablecoin by a substantial $200 million. This move reflects Circle’s commitment to maintaining the stability and integrity of USDC, a widely-used digital dollar. In the past seven days alone, Circle issued a total of 900 million USDC tokens and subsequently bought back a staggering 1.1 billion Circle. This repurchase initiative, aimed at reducing the circulating supply, has garnered attention in the cryptocurrency market.

- As of September 7th, the total circulation of Circle stands at $25.9 billion. Impressively, Circle maintains substantial reserves totaling $26 billion to back the value of USDC. These reserves consist of $1.7 billion in cash and a substantial $24.3 billion held within the Circle Reserve. Circle’s strategic buyback not only reduces the supply of Circle but also enhances its backing with significant reserves, reinforcing the stability and trustworthiness of the stablecoin. It’s important to note that the backing of Circle with reserves is a crucial aspect of its appeal, as it ensures that each Circle token is fully redeemable for its face value in US dollars.
#token #USDC

[life lived @life1960]

🪙 Former Alameda Engineer Reveals Hidden Truth Before FTX Crisis

- Former Alameda Research CEO Caroline Ellison’s confession, rather than internal warnings, led to the revelation that the trading firm was on the brink of collapse, according to a recent CoinDesk interview with a former Alameda engineer, Aditya Baradwaj. The former Alameda engineer stated that it appeared to be “business as usual” until the final days, which seemed like a flurry of trading activity. The shocking truth was only revealed on the last day when Caroline disclosed what had transpired behind closed doors.

- In a surprising turn of events, as the trial against Bankman-Fried unfolds, he now has a final opportunity to present his side of the story. Prosecutors allege that Bankman-Fried allowed Alameda to borrow vast sums from FTX, diverting the funds into various projects. This includes making substantial loans to FTX executives using customer funds, which were then spent on political donations. Federal prosecutors argue that Bankman-Fried used FTX as a means to embezzle billions of dollars in customer funds. He purportedly indulged in speculative trading at Alameda Research, invested in real estate in Bahamas, and donated to the effective altruism movement that was believed to be the foundation of his business.
#FTX #coin

[life lived @life1960]

📣📣 Zipmex Investor Reneges on 100% Payment, Now Seeks to Slash Buyout Deal

- Zipmex’s investor is proposing a new deal that would see them pay the crypto exchange’s creditors far less. Zipmex’s rescue plan could face some challenges as the crypto exchange’s investor is now asking to pay a fraction of its debt, as against the pledge to make a 100% payment. The distressed company is, meanwhile, planning to further extend its creditor protection to seek out new investors.

- Zipmex’s investor is proposing to pay the Thai crypto exchange’s creditors about 10 to 20 percent of the amount owed to them, as stated in a letter the firm wrote to the court in charge of its restructuring. The investor’s new proposal is significantly different from the original buyout proposal, which promised to make a full payment to creditors. As previously reported by CryptoPotato, V Ventures signed a deal with Zipmex in December 2022 to acquire 90% of the troubled crypto exchange for $100 million in cash and crypto tokens. The crypto part of the payment was supposed to be used to gradually unlock customers’ frozen wallets by April 2023.
#crypto #tokens

[life lived @life1960]

🆘 $93.4 Million Was Stolen In 41 Crypto Hacks In April

- The recent market rally has created a wave of interest in the crypto community. However, as the industry grew, so did security concerns and the possibility of theft. In the past month, crypto-related theft has also recorded numbers worth considering. PeckShield’s monitoring showed that in April this year, 41 hacking incidents occurred, with a total of $93.4 million stolen. As of April 30, 1245 ETH and 2515 BNB were transferred to Tornado Cash, and 203 ETH were transferred to Fixed Float.

- Additionally, “jaredfromsubway.eth” earned at least $1.4 million from sandwich attacks involving PEPE. The “jaredfromsubway.eth” was wedged between crypto traders, mostly those wagering on tokens like PEPE and CHAD. Sandwich bots are early adopters of freshly released tokens like PEPE and CHAD – meme currencies with no inherent value that captured the attention of Crypto Twitter degens virtually overnight as the tokens skyrocketed over 10,000%. CertiK, a crypto security and auditing company, also published an April overview of crypto vulnerabilities, scams, and hacks, indicating a total loss of $103.7 million in April, increasing the year-to-date total loss to $429.7 million.
#Crypto #PEPE #BNB

[life lived @life1960]

💰 Lido DAO Governance Holds Onto 39 ETH Despite Sushi Recovery Effort

- Lido DAO governance is currently deliberating on a proposal that would see the return of funds that ended up in its execution layer rewards vault following a SushiSwap attack that resulted in a $3.3 million loss last month. The majority of the lost funds were attributed to Michael Patryn, otherwise known as Omar Dhanani, who is an alleged serial scammer and a co-founder of QuadrigaCX, which is now bankrupt.

- To address this, a proposal to return these funds had been flagged with the Lido team, and a related snapshot vote was posted last week. As of publication, an overwhelming majority of Lido community members (99.92%) have voted to take “no action,” choosing not to return the funds back to Sifu. Despite the proposal making sense on the surface level, Misha Putiatin, the CEO of Statemind, noted on a discussion thread that there could be severe ramifications to the protocol if it were to be approved. He pointed out that without a clear framework, Lido DAO could be heavily throttled by an inflow of hack reimbursement proposals. In case of reimbursement, Lido DAO would need to be an arbitrary judge of what constitutes legal or illegal activity for other protocols which is way beyond its usual capacity and might bring unpredictable legal risks.
#DAO #ETH

[life lived @life1960]

FlokiFi is a suite of decentralized finance products that will be launching under the Floki brand.

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GODHAND TECHNOLOGY ENGINEERING IDEAL IN ALL KINDS OF INSTALLING OF

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@520bnb @cz_binance The Hill is the premier source for policy and political news. Follow for tweets on what's happening

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media features in a secure and uncensored environment.

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@TodoSobreMusica Idell Cha analysis. Ready to help your business grow

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@solsitooh16 Bill Cunnington Waxaan kuu sheegi doonaa waxaad u baahan tahay inaad ogaato

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@eLcinezgi Verona Goslee para obtener resultados diferentes, crear e innovar

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@brahim56090309 Gary Segner all your funds. Invest only what you can lose!

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@Jamison83 Emerita Mcnear Airdrop Hunter

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@sarahsteele20 Gregorio Tuckey It doesn't matter if you're right or wrong. What matters is how much you make