This Crypto Exchange Quintupled its Value in Last 5 Months to $3.75 Billion

San Mateo, California-based Crypto exchange platform, FalconX saw an exceptional rise in its valuation by five times, to $3.75 billion in a period of just five months. The crypto exchange raised $210 million in their latest funding round led by Altimeter Capital, Sapphire Ventures, B Capital Group, and Tiger Global Management. FalconX saw its revenue grow by a multiple of 30 times in 12 months period, till June 2021. The rapid revenue growth is dedicated to the company’s gross profit of nearly 80 percent. Investors have sought FalconX’s growth line…

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Just-In: PolyNetwork Hackers Start Returning $610 Million Stolen Funds

Update: Hackers have returned $133 million worth of funds out of $610 million as per the latest update.   PolyNetwork became the victim of the largest defi hack in crypto history estimated to be worth $610 million. The stolen funds were sent to three wallet addresses one on the Ethereum network containing over $260 million, BSC address with $250 million, and Polygon address with $85 million. The total fund distribution was as follows, BSC assets: 6613 BNB, 87,603,671 USDC, 26,629 ETH, 1,023 BTCB, 32,107,854 BUSD Polygon assets: 85,089,719 USDC Ethereum…

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XRP breaches $40B Market Cap As GME Remittance Join Forces With RippleNet

XRP witnessed a major retail demand on Wednesday after RippleNet officially announced its partnership with South Korea based money transfer company, Global Money Express aka GME Remittance. As posted by the firms, the partnership is anticipated to bolster cross-border transactions across the region. Reportedly, this partnership is established via SBI Ripple Asia, a joint venture of SBI Holdings and Ripple. GME Remittance will employ Ripple’s blockchain-based global payments network to connect with Siam Commercial Bank (SCB), which is Thailand’s largest bank in terms of market capitalization.  Partnership to Bolster RippleNet’s…

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Breaking: Binance Suspends Korean Won Trading Pairs and Payment Options

Binance, the world’s largest crypto exchange by trading volume announced the discontinuation of Korean Won trading pairs and payment options. The exchange would cut down its services for the Korean customers including suspension of P2P merchant application and Korean Language support. The exchange has discontinued four services immediately. KRW trading pairs KRW payment options P2P merchant applications Korean language support The decision comes as a part of the company’s initiative to mend its ways with regulators. However, it is important to note that South Korea is not among the dozen…

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DeFi Exploits 2021: CipherTrace Reports $474 M Loss in Flash Loan Attacks

The Decentralized Finance (DeFi) sector has witnessed an explosive growth this year. The total value locked (TVL) across all decentralized finance (DeFi) protocols has hit a new all-time high of $84 billion as August comes to a close, according to Data Aggregator DeFi Pulse. Per ConsenSys’s Q2 2021 DeFi report, billions of institutional capital is flowing into DeFi. As the space is soaring to new heights, it is attracting significant attention from cyber criminals. The attacks on DeFi have become so regular that one protocol has developed a “DeFi REKT…

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Breaking: Binance Reportedly Under CFTC Investigation For Insider Trading

Binance’s regulatory woes have now expanded to the US, in what could be its worst regulatory showdown until now. A recent report from Bloomberg highlighted that the US Commodity Futures Trading Commission (CFTC) is now looking into the crypto exchange on allegations of possible insider trading and market manipulation. U.S. authorities are examining possible insider trading and market manipulation at cryptocurrency exchange Binance https://t.co/qFg9aA5kzG — Bloomberg Crypto (@crypto) September 17, 2021 Earlier reports of the CFTC investigation in the first quarter were dismissed as regular interaction between the authorities and…

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Report Shows 42% of Voters in Texas Will Support Crypto-Friendly Legislation: Here is How this Could Benefit Parties

An exclusive Newsweek poll conducted by Redfield & Wilton Strategies has shown the disposition of voters in swing American polls to cryptocurrencies. According to the poll, as many as 42% of Texas voters said they would support any cryptocurrency-friendly bill if introduced in the state. This question was featured in the poll to dive into voter’s minds in relation to the passage of a progressive crypto bill in Wyoming. The Wyoming bill does not levy taxes on transactions involving digital currencies, and which also exempts them from transmitter regulations. Per…

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Breaking: Binance Closes Crypto Derivatives Offerings in Australia

Binance, the world’s leading crypto exchange by trading volume has announced the closure of its crypto derivatives offerings in Australia. As per the announcement, the exchange would stop crypto futures, options, and leveraged tokens offering in Australia starting from 24th September. The exchange claimed the decision was based on compliance with the local regulations. The Australian traders using crypto derivatives services via Binance would have 90-days starting from September 24 to close their current margin accounts. While no user would be able to put new margin calls or open new…

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Can the Bitcoin Blockchain Host Smart Contracts? This Blockchain Protocol is Working to Make that Happen

The Bitcoin blockchain is the oldest blockchain protocol in the world, and arguably the most renowned. While the monetary innovation that Satoshi Nakamoto introduced remains the most significant in today’s digital currency world, there are new evolutions that have pushed the paradigm to a whole new level. This evolution includes the hosting of smart contracts on blockchain protocols as Ethereum pioneered back in 2015. Today, new innovative functionalities are now featured on blockchain networks, and the Bitcoin network has been lagging behind due to its closed nature. However, this is…

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Robinhood to Debut Crypto Wallets Next Month, Here Are the Things You Can Do With it

Nasdaq-listed multi-asset brokerage Robinhood Markets Inc has announced that Crypto Wallet will be integrated into its application, and will be rolled out as early as next month. According to a Wednesday blog post, the trading platform, renowned for its commission-free trading models, said the testing for the new crypto wallets will first be opened to a select number of users.  The company said the experiences of the testers will be shared, and used to reshape the wallet development. Other users will notably be onboarded along the way based on a…

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