Author: NBTC
Ethereum co-founder Vitalik Buterin raised serious concerns about EIP7702’s security in a recent X exchange when comparing it to smart contract wallets. The issue of why people trust smart contract wallets but are cautious about the irrevocable nature of EIP7702 was raised by Uniswap’s creator Hayden Adams. In response, Buterin pointed out a crucial difference: With a smart contract wallet (SCW) users have confidence in a single securely auditable piece of code. However, there are extra risks involved with EIP7702 as its security depends on users only delegating to one entity — that is the wallet. Strong security for Ethereum…
Vechain has introduced FUEGO, a decentralized application where users can burn VTHO for B3TR tokens while contributing to various sustainability initiatives. VET has experienced a substantial price surge amid a recovering market period, with analysts predicting a sharp price movement. Vechain, known for its innovative prowess at enhancing supply chain management and business operations has introduced FUEGO, a decentralized application (dAPP) that offers users a great deal of opportunity to earn B3TR tokens. Users get to burn VeThor tokens and in return earn B3TR tokens. This innovative project not only bolsters VeThor’s adoption but also contributes to global sustainability and…
Ripple CTO David Schwartz has waded into the ongoing legal battle between the American influencer and professional wrestler Logan Paul and the crypto journalist and Coffeezilla YouTube presenter Stephen Findeisen. Schwartz supported the latter while describing Paul as trying to get the government to punish people for criticizing them. I side with the one who isn’t trying to get the government to punish people for criticizing them. — David “JoelKatz” Schwartz (@JoelKatz) August 5, 2024 Schwartz highlighted Findeisen’s uploaded video, claiming Paul was suing him for defamation. The Ripple CTO added a caption to the shared video, criticizing Paul’s lawyers…
Bybit has launched a new pre-market product: Bybit Pre-Market Perpetuals. Bybit, the world’s second-largest crypto exchange by trading volume, has introduced this product to allow traders to speculate on the future values of upcoming tokens before their official launch. Once the token is listed, users can place orders with up to 5x leverage and execute trades at the opening price, providing an advantage over competitors, who typically only allow 2x to 3x leverage on pre-market trades. “Pre-Market Perpetuals provide early access to new tokens, allowing our users to hedge spot positions and secure profits effectively,” said Joan Han, Sales &…
Grayscale’s GBTC has dominated in the recent wave of outflows from US spot Bitcoin ETFs, which collectively recorded a total daily net outflow of $174.45 million on Monday. This marked a week of consecutive negative flows, with Grayscale’s GBTC alone accounting for $90 million of the outflows. No Inflows Across Spot Bitcoin ETFs Interestingly, BlackRock’s IBIT did not record any flows for the day. Similarly, spot Bitcoin ETFs by Valkyrie, WisdomTree, and Hashdex also recorded zero activity, according to data compiled by SosoValue. None of the funds recorded inflows. Following Grayscale, Fidelity’s FBTC and Franklin Templeton’s EZBC saw $35 million…
An entity dubbed “7 Siblings” capitalized on the recent Ethereum price decline to thousands of ETH tokens, according to Blockchain analytic platform Lookonchain. Lookonchain data shows that the entity quietly purchased 56,093 ETH, worth $129.3 million at the time. Details of the Transaction Per blockchain data, 7 Siblings started its ETH accumulation yesterday when ETH was trading around $2,600 and continued buying until the price decreased further to $2,191. The average buying price of the 56,093 ETH was $2,305. Interestingly, Lookonchain revealed that the accumulation spree lasted 12 hours on August 4 and 5, 2024. The entity converted $129.3 million…
Inflows into XRP-focused investment products surged by 250% in the past week, according to a recent report by CoinShares. Over $1 million flowed into these exchange-traded products last week, up from $400,000 the previous week. This brings the total net flows into XRP ETPs to more than $19 million since the beginning of the year. This dramatic increase in inflows is likely linked to rising expectations surrounding the SEC’s case against Ripple, which may soon reach a conclusion. Currently, the parties are negotiating the final compensation amount, with the SEC demanding $2 billion, while Ripple is seeking no more than…
South Korean prosecutors have indicted former Wemade CEO Chang Hyun-guk for allegedly falsifying and concealing details about the circulation of Wemix tokens. Korean prosecutors have indicted Chang Hyun-guk, the former CEO of gaming company Wemade, on charges of fabricating and withholding information regarding the circulation of Wemix tokens, linked to the company. The indictment, announced on Monday, Aug. 5, accuses the former Wemade chief executive of deceiving investors by failing to disclose substantial sales of Wemix tokens despite his February 2022 promise to cease such sales and provide transparency on circulation data, Korea JoongAng Daily reports. The legal action follows…
Binance, the leading cryptocurrency exchange by trading volume, recently released its proof of reserves. Notably, meme cryptocurrency Shiba Inu remains among its largest holdings. However, there has been a notable drop in the exchange’s SHIB holdings during this summer. At the start of June, Binance’s net SHIB balances stood at 62.96 trillion tokens. Now, they stand at 62.79 trillion. This represents a 0.27% drop over the past month. While the drop is insignificant, a clear pattern has emerged. At the start of June, Binance held roughly 64.8 trillion worth of SHIB tokens. In two months, the exchange’s SHIB reserves have…
DBS refers to Bitcoin as “digital gold,” promoting smart but careful investing and enhancing its reputation as a worthwhile asset. Bitcoin’s price drop from $74K to $60K sparked varied responses; savvy investors saw a buying opportunity in market swings. Bitcoin’s price at $61,416 shows resilience; a $39B trading volume in 24 hours highlights an active market with a slight 0.05% increase. Bitcoin’s journey has been truly remarkable. The biggest bank in Singapore, DBS, highlighted Bitcoin’s potential as a store of wealth by drawing comparisons to digital gold. As is common in the financial industry, DBS suggests cautiously and strategically investing…