Blockchain venture capital funding down over 43% in July: Report

Typically a lagging indicator of the sector’s health, the explosion of venture funding in the blockchain sector in 2021 and the first half of 2022 appears to be cooling off after seven consecutive sectors of growth. According to Cointelegraph Research, inflows in the blockchain venture capital market have declined by 43% month-on-month in July 2022. The Web3 sector, including GameFi and the Metaverse, continues to command the lion’s share of investor interest. But, the decline in capital inflows should be viewed in context as the numbers are close to the…

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Colombia to prevent tax evasion with national digital currency: Report

Amid Colombia’s economic growth beat expectations in the second quarter, an official at the country’s tax and customs agency has hinted at some national digital currency plans. Luis Carlos Reyes, the head of the Colombian Tax and Customs National Authority, claimed that the government of newly inaugurated Colombian President Gustavo Petro will seek to create a digital currency to prevent illicit financial activity like tax evasion. Colombia’s digital currency plans are part of the country’s new monetary policy measures aiming to increase transparency of financial transactions, the official said in…

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Another depeg — Acala trace report reveals 3B aUSD erroneously minted

High-profile security incidents continue to be a theme in 2022 as the Acala Network joined a long list of stricken platforms to fall prey to exploits. Acala’s aUSD token, which acts as the native stablecoin for the Polkadot and Kusama blockchains, saw its value plummet 99% after a misconfiguration of the iBTC/aUSD liquidity pool was exploited after its launch on Aug. 14. Initial estimates from Acala noted that 1.2 billion aUSD were minted without the necessary collateral – seeing the token’s value depeg from its 1:1 USD ratio to a…

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Celsius CEO personally directed crypto trades months before bankruptcy: Report

Celsius CEO Alex Mashinsky reportedly “took control” of trading strategy at the crypto lending firm amid January rumors the United States Federal Reserve planned to hike interest rates. According to a Tuesday report from the Financial Times, Mashinsky personally directed individual trades and overruled financial experts in an effort to protect Celsius from anticipated declines on the crypto market. The Celsius CEO reportedly ordered the sale of “hundreds of millions of dollars” worth of Bitcoin (BTC) in one instance, rebuying the coins less than 24 hours later at a loss.…

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Celsius Network coin report shows a balance gap of $2.85 billion

A new bankruptcy coin report filed on Aug. 14 shows that troubled crypto lender Celsius’ actual debt stands at $2.85 billion against their bankruptcy filing claims of a $1.2 billion deficit. The latest report shows that the company has net liabilities worth $6.6 billion and total assets under management at $3.8 billion. While in their bankruptcy filing, the firm has shown around $4.3 billion in assets against $5.5 billion in liabilities, representing a $1.2 billion deficit. The coin report also noted that of the total 100,669 Bitcoin (BTC) deposited by…

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Robinhood to face class action lawsuit from meme stock debacle: Report

Cryptocurrency and stock trading platform Robinhood will allegedly face allegations of market manipulation as part of a class-action lawsuit brought by investors in “meme stocks” from nine different companies during a January 2021 rally. According to a Thursday report from Reuters, United States District Court Judge Cecilia Altonaga of the Southern District of Florida ruled that investors in GameStop, AMC and seven other unnamed stocks — which may include Nokia and BlackBerry — could proceed with a lawsuit alleging that Robinhood artificially increased the supply of stocks. In January 2021,…

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Over 1,900 block-producing nodes in the Solana ecosystem, new report reveals

Solana released its first ever, ‘Validator Health Report’ which revealed information on its network operators. According to the report the network has over 1,900 block-producing nodes with nearly 1,688 (88.14%) of those run by independent entities.  Solana says the health and strength of its validators is critical to long-term health of the ecosystem. Previously, the network has faced backlash for both a lack of decentralization and expensive validator hardware.  Though this new report highlights the 3,400 validators across six different continents. 9/ Distribution across geographies is important. Resilient blockchains continue…

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South Korea’s financial watchdog wants to ‘quickly’ review crypto legislation: Report

The chair of South Korea’s Financial Services Commission said the regulator plans to expedite its review of 13 bills pending in the country’s National Assembly related to digital assets. According to a Thursday report from South Korean news outlet Edaily, Financial Services Commission chair Kim Joo-hyun said a task force consisting of private experts and government ministries will “quickly” review proposed legislation on cryptocurrencies. Kim, addressing the Digital Assets Committee, added that the financial watchdog would “make institutional supplements that will take a balanced approach to blockchain development, investor protection…

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88% of Nomad Bridge exploiters were ‘copycats’ — Report

Close to 90% of addresses taking part in the $186 million Nomad Bridge hack last week have been identified as “copycats,” making off with a total of $88 million worth of tokens on Aug. 1, a new report has revealed. In an Aug. 10 Coinbase blog, authored by Peter Kacherginsky, Coinbase’s principal blockchain threat intelligence researcher, and Heidi Wilder, a senior associate of the special investigations team, the pair confirmed what many had suspected during the bridge hack on Aug. 1 — that once the initial hackers figured out how…

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Institutions flocking to Ethereum for 7 straight weeks as Merge nears: Report

Institutional investors are piling into Ether-based digital asset funds, which have recorded seven straight weeks of positive inflows, according to the latest CoinShares report.  Said inflows reached $16.3 million last week, adding to a total of $159 million in inflows over the last seven weeks. CoinShares Head of Research James Butterfill on Aug. 8 said the rise in market sentiment for Ethereum-focused products is largely due to “greater clarity” relating to the upcoming Merge, which is set for Sep. 19, with Butterfill stating:  “We believe this turn-around in investor sentiment…

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