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Bithumb, a South Korean crypto exchange, is reportedly planning a potential IPO on Kosdaq, aiming for the second half of 2025. It has selected Samsung Securities as the underwriter for this process. Meanwhile, its former chair, Lee Jeong-hoon, cleared of previous fraud charges, has returned to the company as a registered director.
A falsified business registration listed as a BlackRock XRP trust triggered significant market volatility yesterday. The phony registration, posted on Delaware’s Division of Corporations website, led to a 10% surge in XRP prices, which later dropped back after confirmation of the fake news. The incident mirrored the fake CoinTelegraph announcement regarding a BlackRock Bitcoin ETF approval that temporarily sparked a market rally.
Cboe Digital is preparing to launch margin futures for Bitcoin and Ethereum in January 2024, marking its transition as the first US-regulated crypto native combined exchange and clearinghouse for both spot and leveraged derivatives trading. Supported by leading crypto trading firms, Cboe also intends to broaden its crypto derivatives suite, subject to regulatory approvals. This move is expected to enhance liquidity and hedging opportunities for traders.
New Ethereum research is aiming to apply zk-SNARKs (zero-knowledge proofs) to enable privacy in transactions using Solidity. This could potentially remove the need for L2 blockchains, leading to reduced gas fees on Ethereum and centralizing transaction activity. Obstacles include ensuring auditability and extra storage needed at the verification phase. This open-source research hopes to attract other builders and funding to work on these types of projects.
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This post discusses how trend-traders can adjust their strategies to effectively execute in strong market trends. It shares numerous strategies, including lowering timeframes, considering consolidations as forms of pullback, using MAs as dynamic S/R levels, and leveraging liquidations. Traders can make use of seemingly mediocre levels and simple price action concepts during strong trends. Traders should not ignore BTC and ETH as they remain key indicators of market movements and sentiment.
This report provides an in-depth exploration of zkSync's architecture and its processes, including Account Abstraction, Core Architecture, Transaction Finality, zk-proof, and Interoperability. It also provides detailed illustrations that can help you understand the relationship between different components of the protocol, transaction phases, and how zkSync accommodates and integrates with Ethereum's processes. The report analyzes the revenue and costs of the protocol and gives a developer's perspective on working with zkSync, highlighting notable functionalities and potential challenges.
The Block announced that it has sold a stake in the company for around $60 million to Singapore's Foresight Ventures for ~80% ownership. The majority of this capital was used to buy out former CEO Mike McCaffrey's stake following a scandal involving FTX loans. Foresight plans to help The Block expand its Asian customer base amidst struggles in the crypto media industry.
This post breaks down the value of what is left on FTX’s balance sheet a year after its dramatic implosion. Despite calls for liquid assets like BTC, ETH, and SOL to be returned to customers, systems in place require broad creditor distribution. Creditor claims total $81 billion, split between customer and non-customer claims. However, the total liability might be closer to $23.2 billion, accounting for disputes. Assets include liquid and illiquid digital tokens, real estate, and brokerage accounts, with the values in this report based on closing prices as of August 31, 2023.
This post discusses the importance of capital efficiency in DeFi, highlighting Solana's ability to generate significantly more trading volume with less liquidity compared to Ethereum, challenging the relevance of TVL as a metric.
Ryan Wyatt, former head of YouTube Gaming and Polygon Labs, is now joining Optimism as its Chief Growth Officer to focus on the adoption and development of Optimism.
Solana's daily active user count surpassed Ethereum user count over the weekend, but Ethereum's entire ecosystem, including its Layer 2 networks, is still in the lead with over 1 million active wallets.
As it continues to sort out legal issues, Terraform Labs has acquired Pulsar Finance, focusing on a post-Kwon strategy with enhanced cross-chain capabilities and portfolio management tools.