Author: Cryptoclaps

Coinbase’s $1 million profit from the Curve Finance hack is a controversial topic. Some people argue that the exchange should return the funds to the victims of the hack, while others claim that Coinbase is not obligated to do so. There is no easy answer to this question. On the one hand, it seems unfair that Coinbase should profit from a crime that it was not involved in. On the other hand, Coinbase is a private company and is not legally required to return the funds. Ultimately, the decision of whether or not to return the funds is up to…

The Valkyrie Ethereum Strategy ETF would be the first ETF in the United States to invest in Ether futures. Ether is the native cryptocurrency of the Ethereum blockchain, and it is the second-largest cryptocurrency by market capitalization. The ETF would be managed by Valkyrie Investments, a New York-based asset management firm that specializes in digital assets. The fund would track the performance of the Bloomberg Galaxy Ethereum Futures Index, which is a measure of the price of Ether futures contracts. The filing with the SEC comes at a time when there is growing interest in Ethereum futures. In recent months,…

Coinbase CEO Brian Armstrong has criticized the CFTC’s enforcement actions against operators of decentralized finance (DeFi) protocols. He has argued that these actions are unnecessary and counterproductive, and that they could stifle innovation in the crypto space. In a tweet, Armstrong said that the CFTC’s actions are “like soccer refs in a game of pickleball” and that they are “making it more difficult for people to build innovative products.” He also said that the CFTC is “not being clear about what the rules are” and that this is “creating uncertainty and risk for everyone.” The CFTC has not yet responded…

Riot Platforms, a major Bitcoin mining company, announced that it had saved $31 million in August by using a variety of innovative energy strategies. These strategies included: Curtailing mining operations during peak demand periods. Participating in demand response programs, which pay miners to reduce their energy usage during times of high demand. Negotiating favorable power contracts. Riot Platforms’ energy strategy is a good example of how Bitcoin miners can reduce their costs and become more sustainable. The company’s success is likely to encourage other miners to adopt similar strategies. Here are some other ways that Bitcoin miners can reduce their…

The FASB has unanimously approved new accounting standards for disclosure of cryptocurrency holdings. The new standards, which are still subject to final approval, would require companies to: Measure their cryptocurrency holdings at fair value each reporting period. Disclose the fair value of their cryptocurrency holdings, as well as their gains and losses on those holdings, in their financial statements. Provide additional disclosures about their cryptocurrency holdings, such as the nature, risks, and uses of those holdings. The new standards are expected to go into effect for fiscal years beginning after December 15, 2024. The approval of these new standards is…

The BTC20 stake-to-earn coin has seen its price increase by 600% in the first 48 hours after its launch. This is due to the high demand for the coin, which is seen as a more environmentally friendly alternative to Bitcoin. The coin is currently priced at $4.06, and it is expected to reach a market cap of $100 million in the near future. BTC20 mirrors the tokenomics of Bitcoin, with a total supply of 21 million tokens. However, unlike Bitcoin, BTC20 is an ERC-20 token that runs on the Ethereum blockchain. This makes it more scalable and efficient than Bitcoin.…

Binance announced on August 29, 2023 that it is launching Send Cash in Latin America, a new product that allows users to transfer crypto from Binance Pay to bank accounts in Colombia and Argentina. The service is currently available in nine countries: Colombia, Honduras, Guatemala, Argentina, Costa Rica, Paraguay, Dominican Republic, Panama, and Mexico. Send Cash uses Binance Pay’s crypto payment technology along with licensed transfer processing providers to streamline and reduce the cost of digital transfers. Users can transfer Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), Tether (USDT), and Binance USD (BUSD) through Send Cash. The launch of Send…

Clockwork, a Solana-based automation protocol, is shutting down. Nick Garfield is taking a responsible approach to shutting down Clockwork. By open-sourcing the code, he is giving the community the opportunity to continue development of the project if they wish. This is a great way to ensure that Clockwork’s technology does not go to waste. It is also interesting that Garfield mentioned the crypto bear market as a factor in his decision to shut down Clockwork. The bear market has made it difficult for many crypto projects to raise funding, and this has undoubtedly put a strain on Clockwork’s finances. Overall,…

It’s unfortunate that OnlyFans’ investment in Ethereum didn’t go so well. The company lost about $8.4 million on its ETH investment, which is a significant amount of money. The decline in the value of Ethereum is due to a number of factors, including the overall bear market in cryptocurrencies, as well as some specific issues with the Ethereum network. In November 2022, ETH was hit by the market crash triggered by the collapse into bankruptcy of the FTX (FTT) exchange, after a planned takeover by Binance (BNB) and its subsequent cancellation. OnlyFans is not the only company that has lost…

TRON DAO has joined the Japan Cryptoasset Business Association (JCBA) as an associate member. This is a significant move for TRON, as it shows the company’s commitment to the Japanese market and the broader Asian crypto ecosystem. The JCBA is a self-regulatory organization that represents the interests of the crypto industry in Japan. By joining the JCBA, TRON will be able to work with other industry leaders to promote the growth of the crypto industry in Japan and Asia. TRON is a leading global blockchain platform that has been growing rapidly in recent years. The company has a strong focus…