Crypto Guides, Knowledge & Insights

Co-founder of Celsius Daniel Leon has resigned.

In a statement provided to Bloomberg News on Tuesday, the cryptocurrency lender that went into bankruptcy previously this year said, “We confirm that Daniel Leon resigned from his role at Celsius and is no longer part of the group.”　　His departure comes a week after Alex Mashinsky, the companys CEO, turned in his letter of resignation.　　The companys Special Committee of the Board of Directors received the resignation letter, according to a press release from the organization.　　“Please accept my resignation as CEO of Celsius Network Ltd, as well as my directorships and other positions at each of its direct and indirect subsidiaries, with the exception of my director position at Celsius Network Ltd., effective immediately.” Mashinsky wrote in his letter of resignation.　　Lior Koren, formerly the businesss worldwide tax director, is now in charge and based in Israel, according to CNBC, which cited an internal email.　　Following the ambiguity of hundreds of investors, Celsius declared bankruptcy. Prior to the decline in cryptocurrency values, the corporation had placed dangerous bets. The business revealed a $1.19 billion deficit in July.　　The design of Celsius business strategy was intended to compete with conventional banks. It made it possible for users to invest in their cryptocurrency and earn interest

2022-10-05Deep Dive

By the end of 2022, BitMEX will introduce its platform token BMEX.

At the Token2049 conference in Singapore, BitMEX CEO Alexander Hoeptner made the announcement in an interview. 　　It was originally planned to launch BMEX, a P2P trading platform for crypto-products, earlier. Nevertheless, BitMEX chose to delay the debut of BMEX due to the unfavorable market conditions at the time. By doing this, BitMEX wanted to allow BMEX to begin in a situation where investors would have the best opportunity of making a profit.　　Despite being prepared to list BMEX, the firm stated in a July release that the current market conditions were not optimal. As a result, the company wanted to list the token in a setting where it would have the greatest shot of rewarding its investors.　　　　Before analyzing the exact BMEX token listing time, the team would consider if there would be another “big drop” in the future, according to Alexander Höptner. 　　Platform currency is the digital money created by the platform itself, just like other exchange tokens like BNB of the Binance exchange and FTT of the FTX exchange.　　Comparatively to conventional assets like Bitcoin, platform money offers a wider range of value support. There are numerous application scenarios depending on the exchanges equity, including its transaction and circulation value.　　Owners of

2022-10-04Deep Dive

Since May, cryptocurrency exchange volumes have increased, reaching $733 billion in September.

The performance of the cryptocurrency market in the first half of the year fell short of expectations, with large declines in spot and derivatives trading volumes across the major exchanges. 　　According to data gathered by CryptoCompare, as bitcoin prices fell, cryptocurrency spot trade volumes dropped roughly 28% in June to $1.41 trillion, the lowest level since December 2020.　　According to The Blocks reasonable trade volume indicator, June saw $629 billion, July saw $633 billion, and August saw $630 billion.　　Fairlead Strategies co-founder Katie Stockton stated:　　“Given investor attitude in cyclical bad markets, volumes have decreased; as a result, it is anticipated that volumes will be below average until cryptocurrency prices exit the current cycle, which may not happen for a few months.”　　Recently, Bitcoin (BTC) has been bouncing around $19,000. CryptoQuant observed that over the past three days, more than 60,000 Bitcoins have left exchanges, the largest number in months, signaling that interest is returning to the sector. The same information was released by Santiment, which also noted that investors are probably optimistic about the fourth quarter.　　According to CryptoQuant data, the highest outflow of bitcoins in recent months occurred in the last three days as 61,301 bitcoins left exchanges. After months of falls, “this

2022-10-04Deep Dive

The Number of Bitcoin ATMs Installed Slowed Significantly in September

Data obtained from CoinATMRadar shows that the number of ATMs deployed decreased from 38,776 in August to 37,980 in September. A decline of -2.05% occurred as a result of the removal of 796 ATMs from the global network. 　　Numerous variables, including market uncertainty and tensions from various geopolitical countries, can be blamed for the abrupt decline in Bitcoin ATM installations.　　A user can use cash or a debit card to purchase Bitcoin and other cryptocurrencies at a bitcoin ATM. You can purchase and sell bitcoin for cash using some Bitcoin ATMs two-way capability. 　　In some instances, Bitcoin ATM providers demand that customers have an active account in order to use the machine. One of the easiest to see indicators of how the ecosystem of digital currencies is developing is the presence of bitcoin ATMs.　　　　Installed Bitcoin ATMs in Various Locations　　According to information obtained from CoinATMRadar, as of May 18, 2020, there were 5,888 crypto ATM locations in the United States alone, with 736 of those being concentrated in the Los Angeles region and 946 in Washington, DC. This number includes additional coins like Bitcoin Cash (BCH). Litecoin (LTC), Dash (DASH), and Ethereum (ETH) (DASH).　　Additionally, there are now roughly 15 bitcoin ATMs spread

2022-10-04Deep Dive

Germany's Deutsche Telekom Launches Support for Staking and an Ethereum Validator Node

In accordance with the German business, its T-Systems Multimedia Solutions (MMS) subsidiary is partnering with a liquid Ethereum 2.0 staking service and DAO StakeWise to host a staking pool that permits individuals to participate in recording data without being required to operate their own validators. Additionally, Deutsche Telekom takes part in StakeWises decentralized autonomous organizations governance (DAO). 　　“As a node operator, our introduction into liquid staking and the close engagement with a DAO is a first for Deutsche Telekom,” said Dirk Röder, Head of the Blockchain Solutions Center at T-Systems MMS, in a statement.　　Because it saves users the time and effort of being required to set up their own validator node, like other similar programs like Lido, Deutsche Telekom expects that users will be attracted to liquid staking through its new service. Furthermore, liquid staking is less costly than standard Ethereum staking, which demands for users to establish their own node and commit a minimum of 32 ETHs, or about $43,338 at the current pricing, in order to engage in staking activities.　　Deutsche Telekom has been actively involved in the cryptocurrency industry. By investing in Celo, a blockchain startup with offices in San Francisco that offers cryptocurrencies on mobile networks, the

2022-10-03Deep Dive

US CFTC Files Charges Against Digitex for Trading and Registration Violations

The CTFC accused Todd of employing a number of company organizations, including Digitex LLC, Digitex Ltd., Digitex Software Ltd., and Blockster Holdings Ltd., in its complaint, which was filed with the commission and made public on Friday in the Southern District of Florida. Corp., - to operate a fraudulent cryptocurrency derivatives trading business. 　　Conforming to the watchdog, Digitex Futures Exchange fulfilled the requirements for a certified contract market or international board of trade but did not register as a futures commission merchant with the CTFC, infringing CEA regulations.　　In breach of the Bank Secrecy Act, which carries a maximum five-year prison sentence for offenders, the CTFC charged Todd and the entities with failing to implement sufficient know-your-customer checks and a customer information program. 　　　　The CTFC further claims Todd tried to use noneconomic trading to “push” the price of DGTX, the native token of the exchange, higher. The regulator asserted that Todd bought tokens with the intention of artificially expanding the exchanges holdings by driving up the price of the token rather than buying them with the intention of profiting from the individual trades.　　According to the regulators filing, “Defendants are likely to continue to engage in the acts and practices described in

2022-10-03Deep Dive

Mutant Ape Yacht Club, CryptoPunks Among This Week’s Recording-breaking NFT Sales

The NFT ecosystem has been waning in terms of monthly trade volumes since Mays crypto market downtown, and especially compared to all-time highs in January of this year.　　However, this week in particular saw some significant trading activity, and Wednesday takes the cake for the highest daily volume of NFTs sales, measured in ether (ETH), in September and in the past 30 days.　　Sept. 28 saw 12,565 ETH, or $16.6 million, transacted that day. While Sept. 20 recorded a lower volume amount in ETH — 12,549 ETH — the USD amount of $17 million was higher due to the fluctuating price of ether. 　　This weeks spike can likely be attributed to a $16.75 million generative art sale, a $1.3 million Mutant Ape Yacht Club (MAYC) lending deal and a $4.45 million CryptoPunks sale.　　Tyler Hobbs, the creator of the popular Fidenza project on Art Blocks, and Archipelago co-founder Dandelion Wist released mint passes for their new collection, QQL, dropped via a Dutch auction on Wednesday.　　This generative art experiment sold out 900 mint passes using a rebate mechanism so that all buyers ended up paying the same price once it settled. While the auction closed out at 14 ETH, the QQL project collected around

2022-10-03Deep Dive

Bitcoin-related ETFs were unveiled by Simplify Asset Management

$1.4 billion worth of ETFs are currently being managed by the Simplify asset management company. A 0.97% management fee is levied by the Nasdaq-listed MAXI Fund. 　　The Simplified Bitcoin Strategies Risk Management Yield ETF invests in the price of cryptocurrency futures rather than the actual cryptocurrency itself. It uses three strategies—a Bitcoin futures strategy, a yield strategy, and an option stacking approach—to generate yield.　　By exposing investors to Bitcoin and making money by trading short-term put or call spreads on the most liquid global stock indexes, MAXI aims to maximize capital gains and income. As was mentioned in April, the asset management company submitted an application to the SEC for a bitcoin strategy ETF.　　　　The third U.S. bitcoin exchange-traded fund (ETF) product, which monitors futures prices for the biggest crypto asset in the world, has received approval from the U.S. Securities and Exchange Commission (SEC). By receiving approval to sell bitcoin futures-based ETFs, Teucrium joins other issuers like ProShares and VanEck who also received it last year. Its anticipated that the market will see more Bitcoin ETF products traded.　　By introducing a new exchange-traded fund (ETF) that gives its European customers exposure to blockchain and cryptocurrency companies, BlackRock, a US global investment firm

2022-10-03Deep Dive

Instagram and Facebook Users Can Now Share and Crosspost NFTs

Meta first enabled select creators and NFT collectors to post their NFTs on Facebook and Instagram at the end of August.　　Now, the digital collectibles feature is available to all Facebook and Instagram users in the US and 100 international countries where the Instagram roll out initially took place.　　Users can unlock the feature by connecting a supported digital asset wallet to their social media accounts, including Rainbow, Trust Wallet, Dapper, Coinbase Wallet and MetaMask wallets. 　　The main perk is getting to share NFTs to Instagram or Facebook feeds, and cross-post any digital collectibles across both platforms for zero fees. Credit can be given to the artists behind an NFT by tagging them in the post. 　　Some of the creators chosen to test out the feature during the August roll out included Steve Aoki and emerging digital artists such as Jesse Smith Art.　　“You could own lots of NFTs but the question is — how could I showcase it？ At the end of the day, NFTs are about clout and signaling,” stated by Varoun Hanooman, the developer behind the Space Doodles collection.　　The value of that is two-fold, added Hanooman: “It lets others know that you‘re in a very exclusive community and that there’s

2022-10-03Deep Dive

Hackers use a zero-day bug to steal cryptocurrency from the General Bytes Bitcoin ATM.

To enable the acquisition or sale of more than 40 different cryptocurrencies, General Bytes runs with over 8,000 Bitcoin ATMs spanning more than 120 nations and territories. 　　The business claimed that criminals leveraged a zero-day weakness in its crypto application server (CAS), allowing access to administrator capabilities, changing the beneficiary wallet address, and permitting individuals to buy and sell cryptocurrencies using stolen cash.　　The expression “zero-day,” often termed as “0-day,” alludes to a hacker-used weakness that hasnt yet had the original programming fixed. It is followed by terms like “vulnerability, exploit, or attack.” 　　General Bytes version upgrade notes, which were made public on the 18th, stated the following:　　“The attacker was able to create an admin user remotely via CAS administrative interface via a URL call on the page used for the default installation on the server and creating the first administration user.”　　By scanning TCP port 7777 or 433 on the internet for vulnerabilities, the attackers were able to reach Digital Oceans cloud hosting infrastructure. They then installed a default administrator user named “gb” to the businesss own Cryptography Application Server (CAS).　　Then, while waiting for the trader to utilize the ATM to transfer the bitcoin to the hacker wallet, the user can

2022-09-30Deep Dive

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