Best Twitter threads of the day – June 5th

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• CoinEX restarts operations with a new wallet system

  TL;DR Breakdown CoinEX has announced the restart of its services using a new wallet system after its previous hack. Restarting services on the platform and the way forward. Description Cryptocurrency exchange CoinEx is gearing up to resume deposit and withdrawal services for its users following a devastating $70 million hack, which occurred due to compromised hot wallet private keys. The exchange had previously outlined its commitment to developing a new wallet system that would support its extensive range of 211 blockchains and 737 tokens, … Read more Cryptocurrency exchange CoinEx is gearing up to resume deposit and withdrawal services for its users following a devastating $70 million hack, which occurred due to compromised hot wallet private keys. The exchange had previously outlined its commitment to developing a new wallet system that would support its extensive range of 211 blockchains and 737 tokens, all of which were affected by the hacking incident. CoinEX enables deposits and withdrawals In its latest statement, CoinEx announced the resumption of deposit and withdrawal services for major cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Tether (USDT), USD…

  Article 2023年9月21日

• Terraform Labs faces an uphill battle amid accusations against its former CEO

  TL;DR Breakdown Terraform Labs has continued to face an uphill task of getting back up as the accusations against its former CEO persist. The firm continues to carve a new path to success. Description Terraform Labs, the blockchain-focused company behind Terra (LUNA), finds itself facing significant challenges as it navigates through frequent accusations against its former CEO, Do Kwon. According to the newly appointed interim CEO, Chris Amani, these persistent allegations have been hindering the progress of various projects in development, presenting a “big hill to climb” for the … Read more Terraform Labs, the blockchain-focused company behind Terra (LUNA), finds itself facing significant challenges as it navigates through frequent accusations against its former CEO, Do Kwon. According to the newly appointed interim CEO, Chris Amani, these persistent allegations have been hindering the progress of various projects in development, presenting a “big hill to climb” for the company. Terraform Labs CEO complains about the setback The recent discussion about Terra’s future occurred during a Twitter Space event titled “A Terra Community Talk,” where Amani and several Terra employees delved into…

  Article 2023年7月24日

• Cardano price analysis: ADA breaks below $0.3600 as bears persist

  TL;DR Breakdown Cardano price analysis shows a decrease in price action. ADA is trading at $0.3572 down by 1.42 percent. Immediate support for ADA is seen at the $0.3557 mark The recent Cardano price analysis shows a bearish trend in the market as ADA breaks below $0.3600 after several days of a downtrend trading pattern. The bears have taken control of the market and have pushed prices lower. The price has declined by 1.42 percent since yesterday with a current trading price of $0.3572. The immediate support for ADA is seen at the $0.3557 mark, while resistance is at the $0.3649 level. The support level is likely to be tested as the bears persist in pushing prices lower. If the price falls below this support, we can expect further declines and a test of the $0.3500 level. The resistance level is likely to remain strong, however, and it will take a strong bullish move for ADA prices to break above this level and key resistance points. Both the market cap and trading volume have faced a major hit as a…

  Article 2023年5月27日

• Gate Group floats virtual asset exchange in Hong Kong

  TL;DR Breakdown The Gate Group has launched its virtual asset exchange in Hong Kong to cater to retail traders. Hong Kong regulator plans to take measures to safeguard retail traders. Gate Group, the virtual asset services provider and parent company of Gate.io, has recently introduced its latest virtual asset trading platform, Gate.HK, in Hong Kong. The platform, which began registration and trading services on May 23, allows users to make deposits and withdrawals of virtual assets and engage in spot trading of cryptocurrencies like Bitcoin, Ethereum, and Litecoin. Gate.HK aims to cater to both retail users and professional investors by offering a diverse range of trading services. Gate Group launches its virtual asset exchange Gate Group has plans to expand the capabilities of Gate.HK in the future, with a focus on introducing additional services that provide users with a broader array of trading options. Each new product and service will be customized to meet the specific needs of users while complying with regulatory requirements in Hong Kong. The decision to establish Gate Group’s presence in Hong Kong was influenced by…

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• Argentina boosts de-dollarization, eyes yuan swap line

  TL;DR Breakdown Argentina’s government is in negotiations to expand its de-dollarization agreement with China to counterbalance the country’s lack of dollars. The aim is to increase the existing swap line from $5 to $10 billion in Chinese yuan. Economy Minister Sergio Massa and Central Bank President Miguel Pesce are leading these discussions and are due to travel to China for negotiations. This expansion was earlier hinted at by Massa. Argentina is facing an extreme decrease in its foreign currency reserves, hitting a seven-year low with dollar reserves dropping to $36 billion in May. In a strategic shift to ease its financial squeeze, Argentina is actively looking to extend its de-dollarization agreement with China. An increased swap line, with funding denominated in Chinese yuan, could offset the South American nation’s dwindling dollar reserves. Stretching Argentina’s financial safety net Sergio Massa, Argentina’s Economy Minister, is spearheading discussions to elevate the current swap line’s capacity. The aim is to double the available amount, taking it from the existing $5 billion to $10 billion, expressed in Chinese yuan. Central Bank of Argentina’s President Miguel…

  Article 2023年5月30日