Crypto Guides, Knowledge & Insights

XREX Granted Conditional Approval for Payment License by Monetary Authority of Singapore

Cryptocurrency exchange XREX has announced that the Monetary Authority of Singapore (MAS) has provisionally approved its payment license application. This approval will allow the company to offer products and services related to digital payment tokens in Singapore. Once the license is fully granted, XREX will be able to further promote its payment tool BitCheck, which supports fiat currencies, stablecoins, and other cryptocurrencies simultaneously in the local market.　　

2023-11-17Deep Dive

ChainArgos Reports a Surge of 400%-500% in On-Chain DAI Transactions in the Last Four Weeks

Blockchain analysis firm ChainArgos posted on the X platform, stating that data shows a significant increase of 400%-500% in the amount of DAI used for on-chain transactions in the past four weeks. The last time there was such a large amount of DAI changing hands on-chain was in July and August 2022. The only comparable month aside from that was November 2021.　　

2023-11-17Deep Dive

Cathie Wood: Grayscale's GBTC to Lose Advantage if Bitcoin Spot ETF Approved

ARK Invest CEO Cathie Wood stated in an interview with CNBC that if a Bitcoin spot ETF is approved, Grayscale GBTC will lose its advantage in this field. Previously, Wood mentioned in the CNBC interview that people are “speculating” that SEC Chairman Gary Gensler may want to become the US Treasury Secretary, and the Treasury Secretary needs to “pay very close attention to the US dollar,” implying that Genslers ambition to become Treasury Secretary may be the real reason for the obstruction of a Bitcoin spot ETF. Wood also predicted that a spot ETF will eventually be approved and stated that by 2030, the cryptocurrency market cap will increase from the current $1 trillion to $25 trillion. She noted that the Ethereum network is faster and has lower transaction costs than the Bitcoin network, while the Solana network is even faster and more cost-effective than the Ethereum network. Additionally, in an interview with Yahoo Finance, Wood expressed optimism about Bitcoin, predicting that the future Bitcoin price could rise to $600,000 to $650,000 based on fundamentals. However, she believes that considering the scarcity of Bitcoin and the potential influx of more institutional investments if a Bitcoin spot ETF is approved, the

2023-11-17Deep Dive

Nearly Half of Web3 Ecosystem Security Incidents Caused by Traditional Web2 Security Issues

Immunefi, the blockchain security platform, has released a new report revealing that nearly half of all cryptocurrency losses caused by Web3 vulnerabilities in 2022 were due to Web2 security issues, such as private key leaks. The report reviewed cryptocurrency exploitation events in 2022 and categorized them into different types of vulnerabilities. The conclusion of the report is that the Web3 ecosystem incurred a total loss of $3,948,856,037 in funds in 2022, including both hacking attacks and suspected fraud events. Among these losses, 46.48% were not due to smart contract defects but rather stemmed from “infrastructure defects” or issues with the computer systems of development companies. While Web2 vulnerabilities accounted for only 26.56% of the total events by quantity, they still constituted the second-largest category.　　

2023-11-17Deep Dive

CertiK Discovers Critical Vulnerability in Solana Phone, Allowing Assets to be Drained Within Second

In recent days, CertiK has identified a critical bootloader vulnerability in Solana Phone. CertiKs testing experts successfully jailbroke the phone within a minute and swiftly looted all assets stored on the device through a few simple steps.　　The fundamental issue of this vulnerability lies in an insecure “bootloader unlock” feature. Apart from stealing users assets, this vulnerability also exposes all personal data stored on the device. Over 2,100 devices have been at serious risk since early April.　　Given the complexity of the vulnerability and the necessity of physical access, CertiK has informed Solana and publicly issued this vulnerability warning to safeguard Web3 users and encourage them to take effective measures to protect their assets.　　CertiK released a video on November 15, providing a detailed analysis of this vulnerability. They emphasize that this vulnerability is not exclusive to Solana Phone and recommend that relevant projects and developers take immediate action to strengthen bootloader protection.　　

2023-11-16Deep Dive

Linea Prepares for Next Major Release, Alpha V2, and Open Sources Linea Stack

Linea announced on X platform that it is preparing for the next major version, Alpha V2. The new version aims to lower transaction costs, improve speed, and achieve 100% EVM coverage. Additionally, Linea Stack will be open-sourced.　　With the upcoming Dencon upgrade on Ethereum (EIP-4844), Alpha V2 will use blob to store call data on L1, significantly reducing Rollup costs. The team is also working on lowering fixed transaction costs by compressing data sent to L1 and aggregating proofs. Linea plans to reduce block time to 4 seconds, tripling the speed, and introduce mechanisms to further reduce block time in the future.　　To accommodate client diversity, both Besu and Geth are supported, and the new Linea sorter will replace Linea-Geth with Linea-Besu.　　Linea is collaborating with the MetaMask team to develop plans for better serving the Linea ecosystem.　　

2023-11-16Deep Dive

HashKey Exchange Unveils Listing Fee Policy, Expected to Range Between $50,000 and $300,000

According to the official announcement, HashKey Exchange has disclosed its listing fee policy. The details are as follows:　　Applicants seeking listing should pay a non-refundable application fee of $10,000 or the equivalent when submitting the listing application form to enter HashKey Exchanges token review process. Payment of the application fee does not guarantee successful listing on HashKey Exchange.　　In addition, applicants should pay a one-time listing fee before being officially listed on HashKey Exchange. The listing fee will be determined based on the complexity, unique features, and trading structure of the token, with significant variations possible. It will impact the participating teams, expert opinions, and the regulatory approval process. The listing fee on HashKey Exchange will reflect the required workload, expertise, and resources.　　The following factors will influence the determination of the fee: token type, complexity of the trading structure, due diligence and compliance, expert opinions, and advisory services.　　Considering these factors, the listing fee on HashKey Exchange is expected to range between $50,000 and $300,000, with the specific amount depending on the aforementioned factors.　　

2023-11-16Deep Dive

CME "Fed Watch": Probability of Interest Rate Unchanged in December Rises to 100%

According to CMEs “FedWatch,” the probability of the Federal Reserve keeping interest rates unchanged in December within the range of 5.25% to 5.50% is 100%. Earlier, before the release of the CPI data on November 14, according to CMEs “FedWatch,” the probability of the Federal Reserve keeping interest rates unchanged in December was 85.9%.　　

2023-11-16Deep Dive

Matrixport Maintains Prediction of Bitcoin Price Surging to $45,000 by Year-End

Matrixport posted on the X platform, stating that despite market resilience, the bulls continue to dominate, and Bitcoin has withstood the selling pressure. Inflation data shows that the U.S. non-seasonally adjusted CPI year-on-year for October has dropped to 3.2%, suggesting the possibility of a rate cut by the Federal Reserve. The U.S. government did not experience a shutdown, ensuring government funding support and keeping the hope alive for the approval of a Bitcoin ETF. With the market maintaining a bullish outlook, Matrixport maintains its long-term expectation for Bitcoins year-end target price of $45,000.　　

2023-11-16Deep Dive

Lendora Faces Potential "Exit Scam," Strong Ties to Multiple Fraudulent Projects Detected

On the X platform, blockchain investigator ZachXBT has posted a message indicating that the DeFi lending protocol Lendora Protocol, based on the Scroll network, may be on the verge of an “exit scam.” Users are advised to withdraw their assets immediately for the following reasons:　　The Lendora teams multi-signature address received $83,000 from the Kokomo exit scam.　　Several users of the protocol are linked to the Kokomo and Bass Exchange exit scams.　　The protocol utilizes the same underlying security company, Vital Block, as the Magnate scam.　　ZachXBT mentioned that this organization has been involved in other crypto scams, including Magnate, Solfire, Hash DAO, Kokomo, Snowflake, with a total amount involved exceeding $16.2 million.　　In a subsequent update, ZachXBT noted that the Lendora Protocol website is now offline, and the project contract has been suspended. Users are strongly urged to exercise caution and take prompt action to secure their assets in such situations.　　

2023-11-15Deep Dive

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