TL;DR Breakdown Shiba Inu’s layer-2 blockchain Shibarium has reached a milestone figure of one million wallets. Tokens face challenges as volatility increases. Description Shiba Inu’s newly launched layer-2 blockchain, the Shibarium network, has achieved a significant milestone, surpassing 1 million wallets. This remarkable feat comes in a meteoric rise since the network’s relaunch. The official team announced this achievement in a blog post on September 3, signaling the rapid growth of the network. This milestone marks a notable … Read more Shiba Inu’s newly launched layer-2 blockchain, the Shibarium network, has achieved a significant milestone, surpassing 1 million wallets. This remarkable feat comes in a meteoric rise since the network’s relaunch. The official team announced this achievement in a blog post on September 3, signaling the rapid growth of the network. This milestone marks a notable increase in wallet adoption, with over 900,000 wallets added since the relaunch of Shibarium on August 28. Shibarium hit the milestone after two weeks of launch The network was able to hit this milestone within just two weeks of the network’s initial launch, despite…

TL;DR Breakdown Nigeria has emerged as the country with the highest level of crypto awareness in a recent Consensys survey. Cryptocurrency trends beyond Nigeria. Description In a groundbreaking global survey conducted by ConsenSys and YouGov, Nigeria has emerged as the country with the highest level of cryptocurrency awareness. This survey, which aimed to gauge the perception of cryptocurrencies and the broader Web3 ecosystem in various countries, encompassed 15,158 individuals aged between 18 and 65 across 15 nations. Report shows that … Read more In a groundbreaking global survey conducted by ConsenSys and YouGov, Nigeria has emerged as the country with the highest level of cryptocurrency awareness. This survey, which aimed to gauge the perception of cryptocurrencies and the broader Web3 ecosystem in various countries, encompassed 15,158 individuals aged between 18 and 65 across 15 nations. Report shows that 99% of Nigerians understand Web3 The most striking revelation from this comprehensive study is that Nigeria, Africa’s largest economy, boasts the most cryptocurrency-aware population on the planet. An astounding 99% of Nigerians and 98% of South Africans demonstrated a deeper understanding of…

Description The captivating potential of the cryptocurrency sector lies in its vision of decentralized financial empowerment, liberating transactions from traditional banking norms. Yet, in the maturation process of this industry, the necessity for secure and dependable links connecting the crypto realm with the established financial domain becomes increasingly evident. Enter players like Prime Trust, positioned as … Read more The captivating potential of the cryptocurrency sector lies in its vision of decentralized financial empowerment, liberating transactions from traditional banking norms. Yet, in the maturation process of this industry, the necessity for secure and dependable links connecting the crypto realm with the established financial domain becomes increasingly evident. Enter players like Prime Trust, positioned as a crypto quasi-bank, offering custody services and enabling connectivity to conventional financial systems. However, the recent narrative involving Prime Trust has cast a somber veil over the cryptocurrency landscape. Once hailed as a bastion of trust and stability amid the tumultuous cryptocurrency landscape, Prime Trust has entered bankruptcy protection, leaving behind a trail of financial ambiguity and fractured confidence. This guide delves into the trajectory of…

TL;DR Breakdown Crypto-based betting platform Stake has been targeted in a security exploit, with over $15 million in suspicious outflows detected, consisting of 6,000 ether and $5.9 million in stablecoins. Stake has paused both deposits and withdrawals in the wake of the incident but has yet to issue an official statement. Description In a startling revelation that has sent shockwaves through the cryptocurrency community, the crypto-based betting platform Stake has reportedly been targeted in a security exploit involving suspicious outflows of over $15 million.  On-chain analysts have detected multiple irregular transactions from the platform, raising concerns about a potential security vulnerability affecting Stake’s wallet.  The anatomy of … Read more In a startling revelation that has sent shockwaves through the cryptocurrency community, the crypto-based betting platform Stake has reportedly been targeted in a security exploit involving suspicious outflows of over $15 million.  On-chain analysts have detected multiple irregular transactions from the platform, raising concerns about a potential security vulnerability affecting Stake’s wallet.  The anatomy of the exploit: What was lost? According to on-chain analyst Cyvers, approximately $15.7 million was transferred…

TL;DR Breakdown The London Stock Exchange Group (LSEG) has announced plans to develop a blockchain-based platform focused on improving the efficiency of traditional asset transactions, not cryptocurrencies. The move comes as other financial institutions, like SWIFT, are also exploring blockchain’s potential, signaling a broader shift in the financial ecosystem toward embracing this technology. Description In a move that could redefine the landscape of traditional asset trading, the London Stock Exchange Group (LSEG) has announced plans to create a blockchain-based digital market ecosystem, according to a report by the Financial Times. However, the initiative aims to streamline the raising and transfer of capital across various asset classes.  Murray Roos, the … Read more In a move that could redefine the landscape of traditional asset trading, the London Stock Exchange Group (LSEG) has announced plans to create a blockchain-based digital market ecosystem, according to a report by the Financial Times. However, the initiative aims to streamline the raising and transfer of capital across various asset classes.  Murray Roos, the head of capital markets at LSEG, indicated that the organization had reached an…

TL;DR Breakdown Large transfers of around $10 million in tokens related to the Solana ecosystem were observed from an FTX wallet, sparking concerns of potential token dumps as the cryptocurrency exchange faces bankruptcy proceedings. FTX has proposed selling digital assets with a weekly limit of $100 million to $200 million to minimize market impact, a plan that is expected to be discussed in an upcoming Delaware Bankruptcy Court hearing on September 13. Description In a development that has sent ripples through the cryptocurrency community, large transfers of funds associated with the FTX wallet have been observed, igniting fears of a potential token dump. According to data from blockchain analytics platform Arkham Intelligence, since August 31, a wallet linked to FTX has moved around $10 million in tokens related … Read more In a development that has sent ripples through the cryptocurrency community, large transfers of funds associated with the FTX wallet have been observed, igniting fears of a potential token dump. According to data from blockchain analytics platform Arkham Intelligence, since August 31, a wallet linked to FTX has moved…

TL;DR Breakdown Mayur Kamat, Binance’s Head of Product, has resigned after nearly two years with the company. Kamat’s departure comes amid high-profile exits at Binance, facing increased scrutiny from global regulators. During his tenure, Kamat was crucial in expanding Binance’s user base from 80 million to over 150 million. Description Mayur Kamat, Binance‘s head of product, has departed from the cryptocurrency exchange. His exit comes amid a wave of high-profile resignations at the company, facing increasing scrutiny from global regulators. Kamat’s decision to step down follows nearly two years of service at Binance, where he played a pivotal role in expanding the user base from … Read more Mayur Kamat, Binance‘s head of product, has departed from the cryptocurrency exchange. His exit comes amid a wave of high-profile resignations at the company, facing increasing scrutiny from global regulators. Kamat’s decision to step down follows nearly two years of service at Binance, where he played a pivotal role in expanding the user base from 80 million to over 150 million. Kamat expressed gratitude to Changpeng Zhao, commonly known as CZ, and…

TL;DR Breakdown Economists predict a slowdown in global economic growth for 2024, with a projected expansion of 2.1 percent, down from expected 2.4 percent. The cautious outlook for 2024 is driven by concerns of prolonged inflation due to high demand, leading policymakers in advanced economies to maintain elevated borrowing costs. Except for Germany, the European economy has performed better than initially feared in the current year. Description Economists anticipate that global economy growth, which has surpassed expectations in 2023, will likely slow down next year due to major economies’ sustained increase in interest rates. According to a compilation of forecasts by consultancy Consensus Economics, the global economy is projected to expand by 2.1 percent in 2024, which marks a slight decrease from … Read more Economists anticipate that global economy growth, which has surpassed expectations in 2023, will likely slow down next year due to major economies’ sustained increase in interest rates. According to a compilation of forecasts by consultancy Consensus Economics, the global economy is projected to expand by 2.1 percent in 2024, which marks a slight decrease from…

TL;DR Breakdown OKX is edging closer to obtaining a Virtual Asset Service Provider (VASP) license in Hong Kong, marking a significant milestone in its journey toward regulatory compliance.  In preparation for this pivotal moment, OKX has initiated essential groundwork, including technology integration. Description OKX, a prominent cryptocurrency exchange, is edging closer to obtaining a Virtual Asset Service Provider (VASP) license in Hong Kong, marking a significant milestone in its journey toward regulatory compliance. The exchange anticipates receiving the final approval for its VASP license by March of the coming year. Li Zhikai, the Global Chief Commercial Officer of … Read more OKX, a prominent cryptocurrency exchange, is edging closer to obtaining a Virtual Asset Service Provider (VASP) license in Hong Kong, marking a significant milestone in its journey toward regulatory compliance. The exchange anticipates receiving the final approval for its VASP license by March of the coming year. Li Zhikai, the Global Chief Commercial Officer of OKX, revealed in an interview that they are actively engaged in discussions with banks and are eagerly awaiting the issuance of their license to…

TL;DR Breakdown Matter Labs co-founder Alex Gluchowski proposes an “Ethereum Supreme Court” for on-chain disputes, resembling a hierarchical legal system to protect Ethereum protocols from external interference. This innovative concept aims to strengthen network integrity, serve as a potent deterrence mechanism, and elevate Ethereum’s status as a reliable blockchain platform. Still, it faces challenges like the need for strong social consensus and managing costs. Description In a groundbreaking move that could reshape the landscape of blockchain governance and security, Matter Labs co-founder and CEO Alex Gluchowski has unveiled a visionary concept: an “Ethereum Supreme Court.” This proposal envisions a hierarchical court system within the Ethereum network, mirroring real-world legal structures, and aims to provide a final recourse for parties embroiled … Read more In a groundbreaking move that could reshape the landscape of blockchain governance and security, Matter Labs co-founder and CEO Alex Gluchowski has unveiled a visionary concept: an “Ethereum Supreme Court.” This proposal envisions a hierarchical court system within the Ethereum network, mirroring real-world legal structures, and aims to provide a final recourse for parties embroiled in disputes…