Top crypto tweets of the day – August 9th

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• Aave Governance Votes to Optimize Ether Holdings and Expand DeFi Partnerships

  TL;DR Breakdown Aave DAO unanimously approves the migration of 1,600 ETH into wstETH and rETH, aiming to put idle assets to work and generate additional yield. The conversion of ETH holdings into wstETH and rETH is part of a decentralized protocol a larger plan to deploy the Ethereum Collector Contract and actively earn a yield on existing funds Description In a recent development, Aave’s vibrant community governance has made significant strides toward optimizing the protocol’s Ether (ETH) holdings. By converting 1,600 ETH (equivalent to approximately $3 million) into wstETH and rETH, Aave aims to put its idle assets to work and maximize the value for its participants. With unanimous approval from the community, this … Read more In a recent development, Aave’s vibrant community governance has made significant strides toward optimizing the protocol’s Ether (ETH) holdings. By converting 1,600 ETH (equivalent to approximately $3 million) into wstETH and rETH, Aave aims to put its idle assets to work and maximize the value for its participants. With unanimous approval from the community, this move represents another step towards the larger goal…

  Article 2023年7月10日

• Crypto to bank made easy: Binance’s ‘Send Cash’ shakes up Latin America

  TL;DR Breakdown Binance has launched “Send Cash,” a new service that enables crypto to bank account transfers in nine Latin American countries, initially starting with Colombia and Argentina. The service is part of Binance’s broader strategy to promote financial inclusion in Latin America, where 42% of adults lack access to traditional banking. The launch follows Binance’s recent partnerships with regional payment providers and signifies a shift in focus towards developing its own platforms, rather than relying on traditional financial systems. Description Binance, the world’s leading cryptocurrency exchange, announced the launch of “Send Cash,” a new service to facilitate crypto-to-bank account transfers in Latin America. The service, which became operational on August 29, is available to users in nine countries, including Colombia, Honduras, Guatemala, Argentina, Costa Rica, Paraguay, the Dominican Republic, Panama, and Mexico. Initially, the service … Read more Binance, the world’s leading cryptocurrency exchange, announced the launch of “Send Cash,” a new service to facilitate crypto-to-bank account transfers in Latin America. The service, which became operational on August 29, is available to users in nine countries, including Colombia, Honduras,…

  Article 2023年8月30日

• Hong Kong crypto exchange JPEX faces liquidity crisis amid regulatory scrutiny

  TL;DR Breakdown JPEX, a Hong Kong-based crypto exchange, is facing a liquidity crisis after third-party market makers froze the company’s funds, leading to the delisting of its Earn Trading interface and a spike in withdrawal fees. The liquidity issues come amid regulatory scrutiny from Hong Kong’s Securities and Futures Commission, which has warned about misleading statements and high returns on the platform; the Commercial Crime Bureau and Hong Kong police are also investigating. To address the crisis, JPEX is negotiating with third-party market makers to restore liquidity and is considering a structural transition to a decentralized autonomous organization (DAO) to redefine its operational direction. Description JPEX, a Hong Kong-based cryptocurrency trading platform, is grappling with a severe liquidity crisis after its third-party market makers “maliciously froze” the company’s funds. The crisis has forced JPEX to delist all transactions on its Earn Trading interface, effective September 18, 2023, at 00:00 (GMT+8). While existing Earn orders will continue until their respective end … Read more JPEX, a Hong Kong-based cryptocurrency trading platform, is grappling with a severe liquidity crisis after its third-party…

  Article 2023年9月18日

• MuesliSwap to Reimburse Users Following Slippage Misunderstanding on its DEX

  TL;DR Breakdown MuesliSwap acknowledges oversight in the slippage feature, promising refunds to users affected by high slippage over the past year. Despite market challenges and a decrease in its total value locked (TVL), initiatives like a DEX aggregator are introduced to enhance user experience and regain trust. Description Cardano-based decentralized exchange platform, MuesliSwap, has stepped forward with an admission of oversight regarding its slippage functionality. With the platform’s reputation on the line, the team has taken decisive measures to make amends. In the rapidly evolving decentralized finance (DeFi) landscape, it’s vital for platforms to offer transparency and clarity to their users. Cardano’s fifth-largest … Read more Cardano-based decentralized exchange platform, MuesliSwap, has stepped forward with an admission of oversight regarding its slippage functionality. With the platform’s reputation on the line, the team has taken decisive measures to make amends. In the rapidly evolving decentralized finance (DeFi) landscape, it’s vital for platforms to offer transparency and clarity to their users. Cardano’s fifth-largest protocol, MuesliSwap, recently faced criticisms related to the high slippage rates that users have been experiencing over the past…

  Article 2023年8月9日

• PayPal PYUSD Stablecoin is 100% Backed – Reports

  TL;DR Breakdown The report affirms that PYUSD is fully collateralized with assets. In addition to Treasury-backed assets, Paxos disclosed that it held $1,500,146 in fiat currency within insured depository institutions as cash deposits. This transparency report comes on the heels of Paxos and PayPal’s joint launch of PYUSD. Description Paxos, the stablecoin issuer, has taken a significant step in enhancing transparency within the cryptocurrency industry by releasing the inaugural transparency report for its Ethereum-based stablecoin, PayPal USD (PYUSD). This report affirms that PYUSD is fully collateralized with assets, underlining its commitment to maintaining the stability and integrity of this digital currency. The transparency report, … Read more Paxos, the stablecoin issuer, has taken a significant step in enhancing transparency within the cryptocurrency industry by releasing the inaugural transparency report for its Ethereum-based stablecoin, PayPal USD (PYUSD). This report affirms that PYUSD is fully collateralized with assets, underlining its commitment to maintaining the stability and integrity of this digital currency. The transparency report, which covers data up to August 31, 2023, provides a comprehensive overview of the assets backing PYUSD and…

  Article 2023年9月14日