Author: NBTC

The DeFi ecosystem is on edge as Uniswap, a leading decentralized finance platform, faces scrutiny from the US Securities and Exchange Commission (SEC). The issuance of a Wells Notice to Uniswap’s CEO, Hayden Adams, signals a potential regulatory storm for the DeFi market sector. A Battle That Could Shape DeFi’s Destiny According to Nicola Massella, Legal Partner at STORM Partners, this new lawsuit has sent ripples through the DeFi sector, underscoring the gravity of the situation. The SEC’s allegations that Uniswap operated as an unregistered securities broker and exchange have raised concerns. “This action against Uniswap marks the SEC’s first…

According to Messari’s insights, over $300 million has been bridged to zkLink Nova, making it the largest L3 network in terms of total value bridged. Abstract figures of blockchains resolving and revolving around each other in layers, representing how zkLink addresses liquidity fragmentation issues in Ethereum. Layer-3 (L3) solutions on the Ethereum ecosystem have sought to address the issues of liquidity fragmentation and weak composability. These two issues are an indirect result of the rapid growth of Ethereum Layer-2 (L2) rollups. A recent report from Messari highlights the impact of zkLink Nova, a zero-knowledge L3 infrastructure provider that works to…

The Bitcoin price movement last week revealed a series of ups and downs, from starting the week at a new all-time high of $73,780 to crashing 12% in the days after to reach below $65,000. Crypto data analysts have spotted massive amounts of Bitcoin being withdrawn from major exchanges during the period of uncertainty, indicating that large investors anticipate further price appreciation. According to a social media post by crypto analyst Ali Martinez, the total BTC balance on crypto exchanges fell by over 21,400 in the past week, with the creation of 13 new whales, each holding over 1,000 BTC.…

In a recent announcement on the social media platform X (formerly Twitter), MakerDAO, the Ethereum-based protocol responsible for issuing the DAI algorithmic stablecoin, provided insights into the performance of the Maker Protocol following recent changes. Over the past few weeks, MakerDAO has implemented significant updates to the protocol and the DAI stablecoin. Introducing the Accelerated Proposal and the direct deposit module (D3M) to Spark’s Metamorpho Vault has notably impacted the ecosystem. Increased DAI Supply And Demand Looking at key metrics that demonstrate the effects of these changes to the protocol, the DAI supply in circulation currently stands at nearly 5…

This week, we’re excited to reconnect with XY Labs Co-Founder, Arie Trouw, to delve into their latest innovation: xyOS. This groundbreaking platform aims to demystify blockchain technology, making it accessible to everyone. xyOS acts as a user-friendly tool, catering to both seasoned blockchain experts and newcomers alike.—xyOS is intentionally crafted to feel familiar and intuitive, resembling the operating systems you’re already comfortable with. From customizable wallpapers to straightforward setup processes, xyOS simplifies blockchain navigation, inviting more individuals to participate in the XYO network.But, xyOS goes beyond mere usability—it prioritizes empowering users to take control of their digital experiences. Through features…

Carson Group Vice President and Investment Strategist Grant Engelbart shed light on the growing interest among financial advisors for Bitcoin ETFs in a recent interview with Bloomberg ETF IQ. According to Engelbart, advisors allocate an average of 3.5% of Bitcoin ETFs to client portfolios. In explaining the rapid adoption of these ETFs, Engelbart said Carson Group moved quickly to provide access to these products shortly after their launch. Responding to questions about the source of funds for Bitcoin ETF purchases, Engelbart explained that investors often reallocate from existing positions in their stock portfolios. Engelbart noted that funds tend to shift…

RedStone Oracles, which provides data feeds for blockchains, is among a growing field of “actively validated services” (AVSs) waiting to tap into EigenLayer, the buzzy new “restaking” protocol that lets upstart networks borrow Ethereum’s security. On Friday, RedStone announced that it had sealed a $500 million deal with Ether.Fi, the largest liquid restaking service on EigenLayer, to help power its oracle protocol. EigenLayer deployed a limited version of its service to Ethereum’s mainnet earlier this week, boasting more than $12 billion in user deposits – many of them from liquid restaking middlemen like Ether.Fi that aim to make the deposit…

DePIN and real-world asset structure peaq announced a boost in privacy to its network through a partnership with ATOR, aiming to provide enhanced anonymity for DePINs operating on peaq’s infrastructure. ATOR’s integration into peaq’s network will involve a liquidity expansion and a technical fusion that will allow other DePINs to access ATOR’s network. This move comes at a time when the demand for online privacy is surging, with traditional solutions like VPNs and the Tor network facing criticism for centralization and limited capabilities. Sapphire “Online surveillance and privacy infringements are growing more egregious by the day,” says Saunder, an engineer…

Pac Finance, a crypto lending platform on the Ethereum L2 Blast, made a costly error while updating its ezETH market parameters yesterday. The resulting $26 million of liquidations, spotted by Parsec founder Will Sheehan, affected at least a dozen addresses, though the worst hit user lost the lion’s share, at $24 million. Responding to Sheehan, the Pac Finance team explained that the bloodbath had been caused by human error; instead of adjusting the loan-to-value ratio (LTV) as planned, the liquidation threshold was changed ‘unexpectedly’ and ‘without prior notification to our team.’ Read more: Critics decry Blast as the latest sketchy…

Samsung is setting a new standard in the integration of Web3 technologies with traditional media platforms. Through its ambitious TX1 project, the tech giant is poised to bring blockchain-based experiences to over 200 million users, reshaping how audiences interact with digital content on their televisions. Bridging Digital and Physical Worlds Samsung’s latest venture capitalizes on the burgeoning interest in decentralized technologies and NFTs, aligning with their strategic commitment to enhancing user experience through innovation. The TX1 project, highlighted by a recent partnership with Illuvium, as discussed in BlockchainReporter’s coverage, represents a significant leap towards merging digital and physical realms seamlessly.…