Best Twitter threads of the day – August 3rd

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• BNB Chain team takes action to save Venus Protocol from impending liquidation

  TL;DR Breakdown Venus Protocol faces potential liquidation due to a substantial stolen BNB position dangerously close to its liquidation point. The position was acquired by an entity responsible for a massive hack on the BNB Chain. The recent decline in cryptocurrency prices has further jeopardized the health rate of the loan position, increasing the risk of liquidation. In a high-stakes development, all eyes are on Venus Protocol, the decentralized lending platform operating within the BNB Chain ecosystem. The platform finds itself on the brink of liquidation due to a substantial Binance Coin (BNB) position that hangs precariously close to the edge, raising concerns within the cryptocurrency community. The dramatic twist involves an entity responsible for orchestrating a massive hack on the BNB Chain in October of last year. This audacious attack resulted in an estimated loss of $120 to $150 million in cryptocurrency assets, leaving the entire community stunned. Exploiting the stolen BNB, the attacker astutely leveraged Venus Protocol to secure a staggering $150 million worth of stablecoins. This strategic move was made possible by utilizing a sizable position of…

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• MicroStrategy bolsters Bitcoin holdings with $347 million acquisition

  TL;DR Breakdown MicroStrategy bought $347 million of Bitcoin, now holding 152,333 Bitcoin valued at over $4.6 billion. The Bitcoin purchase was financed by selling over a million shares, raising $337 million, and MicroStrategy’s stock has grown 124% since the year’s start, aligning with Bitcoin’s positive trend. Analysts see MicroStrategy as a promising choice for investors interested in crypto; that the company’s Bitcoin acquisition could precede expected regulatory changes like a Bitcoin ETF approval, potentially influencing other firms to invest. Description MicroStrategy, a leading software analytics firm, has strategically expanded its Bitcoin reserves with a substantial purchase valued at $347 million. This acquisition, the firm’s largest Bitcoin investment in two years, further solidifies MicroStrategy’s position as one of the most significant Bitcoin holders globally. Acquisition amid market stability Over the past two months, MicroStrategy demonstrated an … Read more MicroStrategy, a leading software analytics firm, has strategically expanded its Bitcoin reserves with a substantial purchase valued at $347 million. This acquisition, the firm’s largest Bitcoin investment in two years, further solidifies MicroStrategy’s position as one of the most significant Bitcoin holders…

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• Anoma Foundation announces the launch of Namada: The forefront of multichain privacy

  TL;DR Breakdown Anoma Foundation’s Namada introduces “shielded swaps,” allowing private interactions with assets across diverse chains, initially partnering with Osmosis in the Cosmos ecosystem. The protocol employs the Comet BFT consensus mechanism, is compatible with all Cosmos-based chains, and provides a seamless two-way bridge to Ethereum. Description The Anoma Foundation, a visionary nonprofit organization in blockchain infrastructure, has unveiled its newest endeavor, the Namada protocol. This mainnet launch aims to enhance multichain privacy, positioning Namada as a revolutionary tool for users to transact with robust confidentiality. Contents hide 1 Introducing shielded swaps 2 Embracing interoperability and high-end privacy 3 The strategic launch … Read more The Anoma Foundation, a visionary nonprofit organization in blockchain infrastructure, has unveiled its newest endeavor, the Namada protocol. This mainnet launch aims to enhance multichain privacy, positioning Namada as a revolutionary tool for users to transact with robust confidentiality. Contents hide 1 Introducing shielded swaps 2 Embracing interoperability and high-end privacy 3 The strategic launch at Korea Blockchain Week 4 Conclusion Introducing shielded swaps Namada’s debut introduces the groundbreaking concept of “shielded swaps.” Awa Sun…

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• Finnish fintech company launches first Euro stablecoin on Solana

  TL;DR Breakdown Finnish fintech company Membrane Finance launched EUROe, Solana’s first euro stablecoin, aiming for MiCA compliance. Digital money app Wirex supports EUROe, allowing use at over 40 million merchant locations worldwide. EUROe’s launch on Solana represents a significant step in blockchain-powered money infrastructure, enabling seamless euro movement. Description Finnish fintech company Membrane Finance has launched the first euro stablecoin on the Solana blockchain. Named EUROe, the stablecoin is expected to be fully MiCA-compliant, aligning with the Markets in Crypto Assets regulations set to take effect in 2024. Membrane finance introduces EUROe, Solana’s first euro stablecoin The launch of EUROe on Solana marks a … Read more Finnish fintech company Membrane Finance has launched the first euro stablecoin on the Solana blockchain. Named EUROe, the stablecoin is expected to be fully MiCA-compliant, aligning with the Markets in Crypto Assets regulations set to take effect in 2024. Membrane finance introduces EUROe, Solana’s first euro stablecoin The launch of EUROe on Solana marks a major step forward in the integration of fiat euros into blockchain-enabled digital money. Also, the stablecoin can be…

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• JPMorgan unveils euro blockchain payment solution

  TL;DR Breakdown JPMorgan has expanded its blockchain project JPM Coin to process euro-denominated payments, initially launched for dollar transactions. The move towards blockchain technology is aimed at making banking processes more efficient. Siemens conducted the first euro transaction via the JPM Coin platform. Description Breaking onto the stage with an ambitious move to connect the traditional banking world with innovative blockchain technology, JPMorgan has upped the ante by introducing euro-denominated payments via its JPM Coin. The institution, which stands at the forefront of integrating cutting-edge technology into conventional banking, has now broadened the currency capabilities of its groundbreaking JPM … Read more Breaking onto the stage with an ambitious move to connect the traditional banking world with innovative blockchain technology, JPMorgan has upped the ante by introducing euro-denominated payments via its JPM Coin. The institution, which stands at the forefront of integrating cutting-edge technology into conventional banking, has now broadened the currency capabilities of its groundbreaking JPM Coin to include the Euro, marking another significant milestone in the evolution of digital finance. An extension of JPM Coin’s global reach This…

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