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The project, hyped by its community of supporters as the \u2018Ethereum Killer\u2019<\/em>, uses a unique technology involving a parallel data model and execution engine to enhance transaction scaling. Besides, the blockchain employs an object-centric model for processing parallel transactions.<\/p>\n\n\n\n

The unveiling has pumped the price of Binance\u2019s native BNB token upwards despite a bearish market momentum. At press time, the token was changing hands for $333, representing a jump of 3% in the past day.<\/p>\n","post_title":"Binance Launches SUI Farming With Staked BNB And TrueUSD","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-launches-sui-farming-with-staked-bnb-and-trueusd","to_ping":"","pinged":"","post_modified":"2023-05-04 13:03:20","post_modified_gmt":"2023-05-04 03:03:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
Sui<\/a> operates as a delegated proof of stake (DPoS) layer-1 blockchain<\/a> written on the Move programming language. The project has since raised $300 million in a series B funding round backed by Binance Labs and Coinbase - bringing its valuation to $2 billion.<\/p>\n\n\n\n
The project, hyped by its community of supporters as the \u2018Ethereum Killer\u2019<\/em>, uses a unique technology involving a parallel data model and execution engine to enhance transaction scaling. Besides, the blockchain employs an object-centric model for processing parallel transactions.<\/p>\n\n\n\n
The unveiling has pumped the price of Binance\u2019s native BNB token upwards despite a bearish market momentum. At press time, the token was changing hands for $333, representing a jump of 3% in the past day.<\/p>\n","post_title":"Binance Launches SUI Farming With Staked BNB And TrueUSD","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-launches-sui-farming-with-staked-bnb-and-trueusd","to_ping":"","pinged":"","post_modified":"2023-05-04 13:03:20","post_modified_gmt":"2023-05-04 03:03:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
DPoS Layer-1 Blockchain<\/h2>\n\n\n\n
Sui<\/a> operates as a delegated proof of stake (DPoS) layer-1 blockchain<\/a> written on the Move programming language. The project has since raised $300 million in a series B funding round backed by Binance Labs and Coinbase - bringing its valuation to $2 billion.<\/p>\n\n\n\n
The project, hyped by its community of supporters as the \u2018Ethereum Killer\u2019<\/em>, uses a unique technology involving a parallel data model and execution engine to enhance transaction scaling. Besides, the blockchain employs an object-centric model for processing parallel transactions.<\/p>\n\n\n\n
The unveiling has pumped the price of Binance\u2019s native BNB token upwards despite a bearish market momentum. At press time, the token was changing hands for $333, representing a jump of 3% in the past day.<\/p>\n","post_title":"Binance Launches SUI Farming With Staked BNB And TrueUSD","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-launches-sui-farming-with-staked-bnb-and-trueusd","to_ping":"","pinged":"","post_modified":"2023-05-04 13:03:20","post_modified_gmt":"2023-05-04 03:03:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
40 million SUI tokens are set for launchpool token rewards, 0.4% of the total token supply of 10 billion. So far, more than 9 million BNB tokens have been staked on the BNB pool, while the TUSD pool has more than 450 million staked TUSD.<\/p>\n\n\n\n
DPoS Layer-1 Blockchain<\/h2>\n\n\n\n
Sui<\/a> operates as a delegated proof of stake (DPoS) layer-1 blockchain<\/a> written on the Move programming language. The project has since raised $300 million in a series B funding round backed by Binance Labs and Coinbase - bringing its valuation to $2 billion.<\/p>\n\n\n\n
The project, hyped by its community of supporters as the \u2018Ethereum Killer\u2019<\/em>, uses a unique technology involving a parallel data model and execution engine to enhance transaction scaling. Besides, the blockchain employs an object-centric model for processing parallel transactions.<\/p>\n\n\n\n
The unveiling has pumped the price of Binance\u2019s native BNB token upwards despite a bearish market momentum. At press time, the token was changing hands for $333, representing a jump of 3% in the past day.<\/p>\n","post_title":"Binance Launches SUI Farming With Staked BNB And TrueUSD","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-launches-sui-farming-with-staked-bnb-and-trueusd","to_ping":"","pinged":"","post_modified":"2023-05-04 13:03:20","post_modified_gmt":"2023-05-04 03:03:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
According to the announcement<\/a> on April 30, the farming of SUI tokens would run for 2 days beginning May 1. After that, the asset would be listed on Binance under trading pairs SUI\/BTC, SUI\/USDT, SUITUSD, and SUI\/BNB, subject to the relevant liquidity requirements.<\/p>\n\n\n\n
40 million SUI tokens are set for launchpool token rewards, 0.4% of the total token supply of 10 billion. So far, more than 9 million BNB tokens have been staked on the BNB pool, while the TUSD pool has more than 450 million staked TUSD.<\/p>\n\n\n\n
DPoS Layer-1 Blockchain<\/h2>\n\n\n\n
Sui<\/a> operates as a delegated proof of stake (DPoS) layer-1 blockchain<\/a> written on the Move programming language. The project has since raised $300 million in a series B funding round backed by Binance Labs and Coinbase - bringing its valuation to $2 billion.<\/p>\n\n\n\n
The project, hyped by its community of supporters as the \u2018Ethereum Killer\u2019<\/em>, uses a unique technology involving a parallel data model and execution engine to enhance transaction scaling. Besides, the blockchain employs an object-centric model for processing parallel transactions.<\/p>\n\n\n\n
The unveiling has pumped the price of Binance\u2019s native BNB token upwards despite a bearish market momentum. At press time, the token was changing hands for $333, representing a jump of 3% in the past day.<\/p>\n","post_title":"Binance Launches SUI Farming With Staked BNB And TrueUSD","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-launches-sui-farming-with-staked-bnb-and-trueusd","to_ping":"","pinged":"","post_modified":"2023-05-04 13:03:20","post_modified_gmt":"2023-05-04 03:03:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
Cryptocurrency exchange Binance has unveiled its 33rd project on Binance Luanchpoool, Sui, that allows users to farm SUI tokens using staked BNB and TrueUSD (TUSD).<\/p>\n\n\n\n
According to the announcement<\/a> on April 30, the farming of SUI tokens would run for 2 days beginning May 1. After that, the asset would be listed on Binance under trading pairs SUI\/BTC, SUI\/USDT, SUITUSD, and SUI\/BNB, subject to the relevant liquidity requirements.<\/p>\n\n\n\n
40 million SUI tokens are set for launchpool token rewards, 0.4% of the total token supply of 10 billion. So far, more than 9 million BNB tokens have been staked on the BNB pool, while the TUSD pool has more than 450 million staked TUSD.<\/p>\n\n\n\n
DPoS Layer-1 Blockchain<\/h2>\n\n\n\n
Sui<\/a> operates as a delegated proof of stake (DPoS) layer-1 blockchain<\/a> written on the Move programming language. The project has since raised $300 million in a series B funding round backed by Binance Labs and Coinbase - bringing its valuation to $2 billion.<\/p>\n\n\n\n
The project, hyped by its community of supporters as the \u2018Ethereum Killer\u2019<\/em>, uses a unique technology involving a parallel data model and execution engine to enhance transaction scaling. Besides, the blockchain employs an object-centric model for processing parallel transactions.<\/p>\n\n\n\n
The unveiling has pumped the price of Binance\u2019s native BNB token upwards despite a bearish market momentum. At press time, the token was changing hands for $333, representing a jump of 3% in the past day.<\/p>\n","post_title":"Binance Launches SUI Farming With Staked BNB And TrueUSD","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-launches-sui-farming-with-staked-bnb-and-trueusd","to_ping":"","pinged":"","post_modified":"2023-05-04 13:03:20","post_modified_gmt":"2023-05-04 03:03:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
The token is expected to list afterward on Binance against BTC, USDT, TUSD, and BNB.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Binance has unveiled its 33rd project on Binance Luanchpoool, Sui, that allows users to farm SUI tokens using staked BNB and TrueUSD (TUSD).<\/p>\n\n\n\n
According to the announcement<\/a> on April 30, the farming of SUI tokens would run for 2 days beginning May 1. After that, the asset would be listed on Binance under trading pairs SUI\/BTC, SUI\/USDT, SUITUSD, and SUI\/BNB, subject to the relevant liquidity requirements.<\/p>\n\n\n\n
40 million SUI tokens are set for launchpool token rewards, 0.4% of the total token supply of 10 billion. So far, more than 9 million BNB tokens have been staked on the BNB pool, while the TUSD pool has more than 450 million staked TUSD.<\/p>\n\n\n\n
DPoS Layer-1 Blockchain<\/h2>\n\n\n\n
Sui<\/a> operates as a delegated proof of stake (DPoS) layer-1 blockchain<\/a> written on the Move programming language. The project has since raised $300 million in a series B funding round backed by Binance Labs and Coinbase - bringing its valuation to $2 billion.<\/p>\n\n\n\n
The project, hyped by its community of supporters as the \u2018Ethereum Killer\u2019<\/em>, uses a unique technology involving a parallel data model and execution engine to enhance transaction scaling. Besides, the blockchain employs an object-centric model for processing parallel transactions.<\/p>\n\n\n\n
The unveiling has pumped the price of Binance\u2019s native BNB token upwards despite a bearish market momentum. At press time, the token was changing hands for $333, representing a jump of 3% in the past day.<\/p>\n","post_title":"Binance Launches SUI Farming With Staked BNB And TrueUSD","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-launches-sui-farming-with-staked-bnb-and-trueusd","to_ping":"","pinged":"","post_modified":"2023-05-04 13:03:20","post_modified_gmt":"2023-05-04 03:03:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
SUI farming will open for two days on BNB and TUSD pools beginning May 1.<\/li>\n\n\n\n
The token is expected to list afterward on Binance against BTC, USDT, TUSD, and BNB.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Binance has unveiled its 33rd project on Binance Luanchpoool, Sui, that allows users to farm SUI tokens using staked BNB and TrueUSD (TUSD).<\/p>\n\n\n\n
According to the announcement<\/a> on April 30, the farming of SUI tokens would run for 2 days beginning May 1. After that, the asset would be listed on Binance under trading pairs SUI\/BTC, SUI\/USDT, SUITUSD, and SUI\/BNB, subject to the relevant liquidity requirements.<\/p>\n\n\n\n
40 million SUI tokens are set for launchpool token rewards, 0.4% of the total token supply of 10 billion. So far, more than 9 million BNB tokens have been staked on the BNB pool, while the TUSD pool has more than 450 million staked TUSD.<\/p>\n\n\n\n
DPoS Layer-1 Blockchain<\/h2>\n\n\n\n
Sui<\/a> operates as a delegated proof of stake (DPoS) layer-1 blockchain<\/a> written on the Move programming language. The project has since raised $300 million in a series B funding round backed by Binance Labs and Coinbase - bringing its valuation to $2 billion.<\/p>\n\n\n\n
The project, hyped by its community of supporters as the \u2018Ethereum Killer\u2019<\/em>, uses a unique technology involving a parallel data model and execution engine to enhance transaction scaling. Besides, the blockchain employs an object-centric model for processing parallel transactions.<\/p>\n\n\n\n
The unveiling has pumped the price of Binance\u2019s native BNB token upwards despite a bearish market momentum. At press time, the token was changing hands for $333, representing a jump of 3% in the past day.<\/p>\n","post_title":"Binance Launches SUI Farming With Staked BNB And TrueUSD","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-launches-sui-farming-with-staked-bnb-and-trueusd","to_ping":"","pinged":"","post_modified":"2023-05-04 13:03:20","post_modified_gmt":"2023-05-04 03:03:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
\n
SUI farming will open for two days on BNB and TUSD pools beginning May 1.<\/li>\n\n\n\n
The token is expected to list afterward on Binance against BTC, USDT, TUSD, and BNB.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Binance has unveiled its 33rd project on Binance Luanchpoool, Sui, that allows users to farm SUI tokens using staked BNB and TrueUSD (TUSD).<\/p>\n\n\n\n
According to the announcement<\/a> on April 30, the farming of SUI tokens would run for 2 days beginning May 1. After that, the asset would be listed on Binance under trading pairs SUI\/BTC, SUI\/USDT, SUITUSD, and SUI\/BNB, subject to the relevant liquidity requirements.<\/p>\n\n\n\n
40 million SUI tokens are set for launchpool token rewards, 0.4% of the total token supply of 10 billion. So far, more than 9 million BNB tokens have been staked on the BNB pool, while the TUSD pool has more than 450 million staked TUSD.<\/p>\n\n\n\n
DPoS Layer-1 Blockchain<\/h2>\n\n\n\n
Sui<\/a> operates as a delegated proof of stake (DPoS) layer-1 blockchain<\/a> written on the Move programming language. The project has since raised $300 million in a series B funding round backed by Binance Labs and Coinbase - bringing its valuation to $2 billion.<\/p>\n\n\n\n
The project, hyped by its community of supporters as the \u2018Ethereum Killer\u2019<\/em>, uses a unique technology involving a parallel data model and execution engine to enhance transaction scaling. Besides, the blockchain employs an object-centric model for processing parallel transactions.<\/p>\n\n\n\n
The unveiling has pumped the price of Binance\u2019s native BNB token upwards despite a bearish market momentum. At press time, the token was changing hands for $333, representing a jump of 3% in the past day.<\/p>\n","post_title":"Binance Launches SUI Farming With Staked BNB And TrueUSD","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-launches-sui-farming-with-staked-bnb-and-trueusd","to_ping":"","pinged":"","post_modified":"2023-05-04 13:03:20","post_modified_gmt":"2023-05-04 03:03:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
The meme coin phenomenon has emerged as a culture in the cryptocurrency space. We can notably refer to prominent meme coins like Dogecoin ($DOGE) and Shiba Inu ($SHIB). At the time of writing, these two cryptocurrencies ranked number 8 and number 15, respectively, according to Coinmarketcap. $DOGE and $SHIB have paved the way for other meme coins to gain traction in the crypto market.<\/p>\n","post_title":"Massive $PEPE Deposits Shake Crypto Exchanges; Market Value Plunges","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"massive-pepe-deposits-shake-crypto-exchanges-market-value-plunges","to_ping":"","pinged":"","post_modified":"2023-05-13 00:36:16","post_modified_gmt":"2023-05-12 14:36:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11677","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11401,"post_author":"13","post_date":"2023-05-02 11:29:00","post_date_gmt":"2023-05-02 01:29:00","post_content":"\n
\n
SUI farming will open for two days on BNB and TUSD pools beginning May 1.<\/li>\n\n\n\n
The token is expected to list afterward on Binance against BTC, USDT, TUSD, and BNB.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Binance has unveiled its 33rd project on Binance Luanchpoool, Sui, that allows users to farm SUI tokens using staked BNB and TrueUSD (TUSD).<\/p>\n\n\n\n
According to the announcement<\/a> on April 30, the farming of SUI tokens would run for 2 days beginning May 1. After that, the asset would be listed on Binance under trading pairs SUI\/BTC, SUI\/USDT, SUITUSD, and SUI\/BNB, subject to the relevant liquidity requirements.<\/p>\n\n\n\n
40 million SUI tokens are set for launchpool token rewards, 0.4% of the total token supply of 10 billion. So far, more than 9 million BNB tokens have been staked on the BNB pool, while the TUSD pool has more than 450 million staked TUSD.<\/p>\n\n\n\n
DPoS Layer-1 Blockchain<\/h2>\n\n\n\n
Sui<\/a> operates as a delegated proof of stake (DPoS) layer-1 blockchain<\/a> written on the Move programming language. The project has since raised $300 million in a series B funding round backed by Binance Labs and Coinbase - bringing its valuation to $2 billion.<\/p>\n\n\n\n
The project, hyped by its community of supporters as the \u2018Ethereum Killer\u2019<\/em>, uses a unique technology involving a parallel data model and execution engine to enhance transaction scaling. Besides, the blockchain employs an object-centric model for processing parallel transactions.<\/p>\n\n\n\n
The unveiling has pumped the price of Binance\u2019s native BNB token upwards despite a bearish market momentum. At press time, the token was changing hands for $333, representing a jump of 3% in the past day.<\/p>\n","post_title":"Binance Launches SUI Farming With Staked BNB And TrueUSD","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-launches-sui-farming-with-staked-bnb-and-trueusd","to_ping":"","pinged":"","post_modified":"2023-05-04 13:03:20","post_modified_gmt":"2023-05-04 03:03:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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September 3, 2023

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Banking

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November 24, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

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Follow The Distributed

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ADVERTISEMENT

\n
On May 11, 2023, @lookonchain<\/a>, a prominent cryptocurrency analyst, tweeted<\/a> about $PEPE and $LADYs (another meme coin). In his tweet, he praised how a cryptocurrency trader made huge profits trading meme coins. The trader bought $PEPE on Apr 18 and $LADYS before Elon Musk tweeted. In summary, his investment gained 36x on $PEPE and 35x on $LADYS. <\/p>\n\n\n\n
The meme coin phenomenon has emerged as a culture in the cryptocurrency space. We can notably refer to prominent meme coins like Dogecoin ($DOGE) and Shiba Inu ($SHIB). At the time of writing, these two cryptocurrencies ranked number 8 and number 15, respectively, according to Coinmarketcap. $DOGE and $SHIB have paved the way for other meme coins to gain traction in the crypto market.<\/p>\n","post_title":"Massive $PEPE Deposits Shake Crypto Exchanges; Market Value Plunges","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"massive-pepe-deposits-shake-crypto-exchanges-market-value-plunges","to_ping":"","pinged":"","post_modified":"2023-05-13 00:36:16","post_modified_gmt":"2023-05-12 14:36:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11677","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11401,"post_author":"13","post_date":"2023-05-02 11:29:00","post_date_gmt":"2023-05-02 01:29:00","post_content":"\n
\n
SUI farming will open for two days on BNB and TUSD pools beginning May 1.<\/li>\n\n\n\n
The token is expected to list afterward on Binance against BTC, USDT, TUSD, and BNB.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Binance has unveiled its 33rd project on Binance Luanchpoool, Sui, that allows users to farm SUI tokens using staked BNB and TrueUSD (TUSD).<\/p>\n\n\n\n
According to the announcement<\/a> on April 30, the farming of SUI tokens would run for 2 days beginning May 1. After that, the asset would be listed on Binance under trading pairs SUI\/BTC, SUI\/USDT, SUITUSD, and SUI\/BNB, subject to the relevant liquidity requirements.<\/p>\n\n\n\n
40 million SUI tokens are set for launchpool token rewards, 0.4% of the total token supply of 10 billion. So far, more than 9 million BNB tokens have been staked on the BNB pool, while the TUSD pool has more than 450 million staked TUSD.<\/p>\n\n\n\n
DPoS Layer-1 Blockchain<\/h2>\n\n\n\n
Sui<\/a> operates as a delegated proof of stake (DPoS) layer-1 blockchain<\/a> written on the Move programming language. The project has since raised $300 million in a series B funding round backed by Binance Labs and Coinbase - bringing its valuation to $2 billion.<\/p>\n\n\n\n
The project, hyped by its community of supporters as the \u2018Ethereum Killer\u2019<\/em>, uses a unique technology involving a parallel data model and execution engine to enhance transaction scaling. Besides, the blockchain employs an object-centric model for processing parallel transactions.<\/p>\n\n\n\n
The unveiling has pumped the price of Binance\u2019s native BNB token upwards despite a bearish market momentum. At press time, the token was changing hands for $333, representing a jump of 3% in the past day.<\/p>\n","post_title":"Binance Launches SUI Farming With Staked BNB And TrueUSD","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-launches-sui-farming-with-staked-bnb-and-trueusd","to_ping":"","pinged":"","post_modified":"2023-05-04 13:03:20","post_modified_gmt":"2023-05-04 03:03:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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August 15, 2024

Banking

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November 24, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
More On Memecoins<\/h2>\n\n\n\n
On May 11, 2023, @lookonchain<\/a>, a prominent cryptocurrency analyst, tweeted<\/a> about $PEPE and $LADYs (another meme coin). In his tweet, he praised how a cryptocurrency trader made huge profits trading meme coins. The trader bought $PEPE on Apr 18 and $LADYS before Elon Musk tweeted. In summary, his investment gained 36x on $PEPE and 35x on $LADYS. <\/p>\n\n\n\n
The meme coin phenomenon has emerged as a culture in the cryptocurrency space. We can notably refer to prominent meme coins like Dogecoin ($DOGE) and Shiba Inu ($SHIB). At the time of writing, these two cryptocurrencies ranked number 8 and number 15, respectively, according to Coinmarketcap. $DOGE and $SHIB have paved the way for other meme coins to gain traction in the crypto market.<\/p>\n","post_title":"Massive $PEPE Deposits Shake Crypto Exchanges; Market Value Plunges","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"massive-pepe-deposits-shake-crypto-exchanges-market-value-plunges","to_ping":"","pinged":"","post_modified":"2023-05-13 00:36:16","post_modified_gmt":"2023-05-12 14:36:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11677","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11401,"post_author":"13","post_date":"2023-05-02 11:29:00","post_date_gmt":"2023-05-02 01:29:00","post_content":"\n
\n
SUI farming will open for two days on BNB and TUSD pools beginning May 1.<\/li>\n\n\n\n
The token is expected to list afterward on Binance against BTC, USDT, TUSD, and BNB.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Binance has unveiled its 33rd project on Binance Luanchpoool, Sui, that allows users to farm SUI tokens using staked BNB and TrueUSD (TUSD).<\/p>\n\n\n\n
According to the announcement<\/a> on April 30, the farming of SUI tokens would run for 2 days beginning May 1. After that, the asset would be listed on Binance under trading pairs SUI\/BTC, SUI\/USDT, SUITUSD, and SUI\/BNB, subject to the relevant liquidity requirements.<\/p>\n\n\n\n
40 million SUI tokens are set for launchpool token rewards, 0.4% of the total token supply of 10 billion. So far, more than 9 million BNB tokens have been staked on the BNB pool, while the TUSD pool has more than 450 million staked TUSD.<\/p>\n\n\n\n
DPoS Layer-1 Blockchain<\/h2>\n\n\n\n
Sui<\/a> operates as a delegated proof of stake (DPoS) layer-1 blockchain<\/a> written on the Move programming language. The project has since raised $300 million in a series B funding round backed by Binance Labs and Coinbase - bringing its valuation to $2 billion.<\/p>\n\n\n\n
The project, hyped by its community of supporters as the \u2018Ethereum Killer\u2019<\/em>, uses a unique technology involving a parallel data model and execution engine to enhance transaction scaling. Besides, the blockchain employs an object-centric model for processing parallel transactions.<\/p>\n\n\n\n
The unveiling has pumped the price of Binance\u2019s native BNB token upwards despite a bearish market momentum. At press time, the token was changing hands for $333, representing a jump of 3% in the past day.<\/p>\n","post_title":"Binance Launches SUI Farming With Staked BNB And TrueUSD","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-launches-sui-farming-with-staked-bnb-and-trueusd","to_ping":"","pinged":"","post_modified":"2023-05-04 13:03:20","post_modified_gmt":"2023-05-04 03:03:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 … 10 Next

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August 15, 2024

Banking

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November 24, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
Despite its playful image, $PEPE has also experienced fluctuations in its market price. This volatility is characteristic of many memecoins, as trends, speculation, and the overall sentiment of the market can influence their prices.<\/p>\n\n\n\n
More On Memecoins<\/h2>\n\n\n\n
On May 11, 2023, @lookonchain<\/a>, a prominent cryptocurrency analyst, tweeted<\/a> about $PEPE and $LADYs (another meme coin). In his tweet, he praised how a cryptocurrency trader made huge profits trading meme coins. The trader bought $PEPE on Apr 18 and $LADYS before Elon Musk tweeted. In summary, his investment gained 36x on $PEPE and 35x on $LADYS. <\/p>\n\n\n\n
The meme coin phenomenon has emerged as a culture in the cryptocurrency space. We can notably refer to prominent meme coins like Dogecoin ($DOGE) and Shiba Inu ($SHIB). At the time of writing, these two cryptocurrencies ranked number 8 and number 15, respectively, according to Coinmarketcap. $DOGE and $SHIB have paved the way for other meme coins to gain traction in the crypto market.<\/p>\n","post_title":"Massive $PEPE Deposits Shake Crypto Exchanges; Market Value Plunges","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"massive-pepe-deposits-shake-crypto-exchanges-market-value-plunges","to_ping":"","pinged":"","post_modified":"2023-05-13 00:36:16","post_modified_gmt":"2023-05-12 14:36:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11677","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11401,"post_author":"13","post_date":"2023-05-02 11:29:00","post_date_gmt":"2023-05-02 01:29:00","post_content":"\n
\n
SUI farming will open for two days on BNB and TUSD pools beginning May 1.<\/li>\n\n\n\n
The token is expected to list afterward on Binance against BTC, USDT, TUSD, and BNB.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Binance has unveiled its 33rd project on Binance Luanchpoool, Sui, that allows users to farm SUI tokens using staked BNB and TrueUSD (TUSD).<\/p>\n\n\n\n
According to the announcement<\/a> on April 30, the farming of SUI tokens would run for 2 days beginning May 1. After that, the asset would be listed on Binance under trading pairs SUI\/BTC, SUI\/USDT, SUITUSD, and SUI\/BNB, subject to the relevant liquidity requirements.<\/p>\n\n\n\n
40 million SUI tokens are set for launchpool token rewards, 0.4% of the total token supply of 10 billion. So far, more than 9 million BNB tokens have been staked on the BNB pool, while the TUSD pool has more than 450 million staked TUSD.<\/p>\n\n\n\n
DPoS Layer-1 Blockchain<\/h2>\n\n\n\n
Sui<\/a> operates as a delegated proof of stake (DPoS) layer-1 blockchain<\/a> written on the Move programming language. The project has since raised $300 million in a series B funding round backed by Binance Labs and Coinbase - bringing its valuation to $2 billion.<\/p>\n\n\n\n
The project, hyped by its community of supporters as the \u2018Ethereum Killer\u2019<\/em>, uses a unique technology involving a parallel data model and execution engine to enhance transaction scaling. Besides, the blockchain employs an object-centric model for processing parallel transactions.<\/p>\n\n\n\n
The unveiling has pumped the price of Binance\u2019s native BNB token upwards despite a bearish market momentum. At press time, the token was changing hands for $333, representing a jump of 3% in the past day.<\/p>\n","post_title":"Binance Launches SUI Farming With Staked BNB And TrueUSD","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-launches-sui-farming-with-staked-bnb-and-trueusd","to_ping":"","pinged":"","post_modified":"2023-05-04 13:03:20","post_modified_gmt":"2023-05-04 03:03:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 … 10 Next

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Ripple Challenges SEC’s Bid For Appeal In Legal Battle

September 3, 2023

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Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

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August 15, 2024

Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
$PEPE is a meme coin that has gained significant popularity in cryptocurrency. It has captured the attention of crypto enthusiasts and investors due to its unique and humorous nature.<\/p>\n\n\n\n
Despite its playful image, $PEPE has also experienced fluctuations in its market price. This volatility is characteristic of many memecoins, as trends, speculation, and the overall sentiment of the market can influence their prices.<\/p>\n\n\n\n
More On Memecoins<\/h2>\n\n\n\n
On May 11, 2023, @lookonchain<\/a>, a prominent cryptocurrency analyst, tweeted<\/a> about $PEPE and $LADYs (another meme coin). In his tweet, he praised how a cryptocurrency trader made huge profits trading meme coins. The trader bought $PEPE on Apr 18 and $LADYS before Elon Musk tweeted. In summary, his investment gained 36x on $PEPE and 35x on $LADYS. <\/p>\n\n\n\n
The meme coin phenomenon has emerged as a culture in the cryptocurrency space. We can notably refer to prominent meme coins like Dogecoin ($DOGE) and Shiba Inu ($SHIB). At the time of writing, these two cryptocurrencies ranked number 8 and number 15, respectively, according to Coinmarketcap. $DOGE and $SHIB have paved the way for other meme coins to gain traction in the crypto market.<\/p>\n","post_title":"Massive $PEPE Deposits Shake Crypto Exchanges; Market Value Plunges","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"massive-pepe-deposits-shake-crypto-exchanges-market-value-plunges","to_ping":"","pinged":"","post_modified":"2023-05-13 00:36:16","post_modified_gmt":"2023-05-12 14:36:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11677","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11401,"post_author":"13","post_date":"2023-05-02 11:29:00","post_date_gmt":"2023-05-02 01:29:00","post_content":"\n
\n
SUI farming will open for two days on BNB and TUSD pools beginning May 1.<\/li>\n\n\n\n
The token is expected to list afterward on Binance against BTC, USDT, TUSD, and BNB.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Binance has unveiled its 33rd project on Binance Luanchpoool, Sui, that allows users to farm SUI tokens using staked BNB and TrueUSD (TUSD).<\/p>\n\n\n\n
According to the announcement<\/a> on April 30, the farming of SUI tokens would run for 2 days beginning May 1. After that, the asset would be listed on Binance under trading pairs SUI\/BTC, SUI\/USDT, SUITUSD, and SUI\/BNB, subject to the relevant liquidity requirements.<\/p>\n\n\n\n
40 million SUI tokens are set for launchpool token rewards, 0.4% of the total token supply of 10 billion. So far, more than 9 million BNB tokens have been staked on the BNB pool, while the TUSD pool has more than 450 million staked TUSD.<\/p>\n\n\n\n
DPoS Layer-1 Blockchain<\/h2>\n\n\n\n
Sui<\/a> operates as a delegated proof of stake (DPoS) layer-1 blockchain<\/a> written on the Move programming language. The project has since raised $300 million in a series B funding round backed by Binance Labs and Coinbase - bringing its valuation to $2 billion.<\/p>\n\n\n\n
The project, hyped by its community of supporters as the \u2018Ethereum Killer\u2019<\/em>, uses a unique technology involving a parallel data model and execution engine to enhance transaction scaling. Besides, the blockchain employs an object-centric model for processing parallel transactions.<\/p>\n\n\n\n
The unveiling has pumped the price of Binance\u2019s native BNB token upwards despite a bearish market momentum. At press time, the token was changing hands for $333, representing a jump of 3% in the past day.<\/p>\n","post_title":"Binance Launches SUI Farming With Staked BNB And TrueUSD","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-launches-sui-farming-with-staked-bnb-and-trueusd","to_ping":"","pinged":"","post_modified":"2023-05-04 13:03:20","post_modified_gmt":"2023-05-04 03:03:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 … 10 Next

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Ripple Challenges SEC’s Bid For Appeal In Legal Battle

September 3, 2023

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November 24, 2024

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Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
\nhttps:\/\/twitter.com\/ScopeProtocol\/status\/1656916635134066688?s=20\n<\/div><\/figure>\n\n\n\n
$PEPE is a meme coin that has gained significant popularity in cryptocurrency. It has captured the attention of crypto enthusiasts and investors due to its unique and humorous nature.<\/p>\n\n\n\n
Despite its playful image, $PEPE has also experienced fluctuations in its market price. This volatility is characteristic of many memecoins, as trends, speculation, and the overall sentiment of the market can influence their prices.<\/p>\n\n\n\n
More On Memecoins<\/h2>\n\n\n\n
On May 11, 2023, @lookonchain<\/a>, a prominent cryptocurrency analyst, tweeted<\/a> about $PEPE and $LADYs (another meme coin). In his tweet, he praised how a cryptocurrency trader made huge profits trading meme coins. The trader bought $PEPE on Apr 18 and $LADYS before Elon Musk tweeted. In summary, his investment gained 36x on $PEPE and 35x on $LADYS. <\/p>\n\n\n\n
The meme coin phenomenon has emerged as a culture in the cryptocurrency space. We can notably refer to prominent meme coins like Dogecoin ($DOGE) and Shiba Inu ($SHIB). At the time of writing, these two cryptocurrencies ranked number 8 and number 15, respectively, according to Coinmarketcap. $DOGE and $SHIB have paved the way for other meme coins to gain traction in the crypto market.<\/p>\n","post_title":"Massive $PEPE Deposits Shake Crypto Exchanges; Market Value Plunges","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"massive-pepe-deposits-shake-crypto-exchanges-market-value-plunges","to_ping":"","pinged":"","post_modified":"2023-05-13 00:36:16","post_modified_gmt":"2023-05-12 14:36:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11677","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11401,"post_author":"13","post_date":"2023-05-02 11:29:00","post_date_gmt":"2023-05-02 01:29:00","post_content":"\n
\n
SUI farming will open for two days on BNB and TUSD pools beginning May 1.<\/li>\n\n\n\n
The token is expected to list afterward on Binance against BTC, USDT, TUSD, and BNB.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Binance has unveiled its 33rd project on Binance Luanchpoool, Sui, that allows users to farm SUI tokens using staked BNB and TrueUSD (TUSD).<\/p>\n\n\n\n
According to the announcement<\/a> on April 30, the farming of SUI tokens would run for 2 days beginning May 1. After that, the asset would be listed on Binance under trading pairs SUI\/BTC, SUI\/USDT, SUITUSD, and SUI\/BNB, subject to the relevant liquidity requirements.<\/p>\n\n\n\n
40 million SUI tokens are set for launchpool token rewards, 0.4% of the total token supply of 10 billion. So far, more than 9 million BNB tokens have been staked on the BNB pool, while the TUSD pool has more than 450 million staked TUSD.<\/p>\n\n\n\n
DPoS Layer-1 Blockchain<\/h2>\n\n\n\n
Sui<\/a> operates as a delegated proof of stake (DPoS) layer-1 blockchain<\/a> written on the Move programming language. The project has since raised $300 million in a series B funding round backed by Binance Labs and Coinbase - bringing its valuation to $2 billion.<\/p>\n\n\n\n
The project, hyped by its community of supporters as the \u2018Ethereum Killer\u2019<\/em>, uses a unique technology involving a parallel data model and execution engine to enhance transaction scaling. Besides, the blockchain employs an object-centric model for processing parallel transactions.<\/p>\n\n\n\n
The unveiling has pumped the price of Binance\u2019s native BNB token upwards despite a bearish market momentum. At press time, the token was changing hands for $333, representing a jump of 3% in the past day.<\/p>\n","post_title":"Binance Launches SUI Farming With Staked BNB And TrueUSD","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-launches-sui-farming-with-staked-bnb-and-trueusd","to_ping":"","pinged":"","post_modified":"2023-05-04 13:03:20","post_modified_gmt":"2023-05-04 03:03:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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August 15, 2024

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November 24, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
In the last 24 hours, $46.37 million worth of $PEPE has been deposited into exchanges. The meme coin has net deposits from 1,176 addresses amounting to $22.94 million. $PEPE has seen a significant drop of 31% in value, shrinking its market value to around $500 million, as reported <\/a>by ScopeProtocol.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/ScopeProtocol\/status\/1656916635134066688?s=20\n<\/div><\/figure>\n\n\n\n
$PEPE is a meme coin that has gained significant popularity in cryptocurrency. It has captured the attention of crypto enthusiasts and investors due to its unique and humorous nature.<\/p>\n\n\n\n
Despite its playful image, $PEPE has also experienced fluctuations in its market price. This volatility is characteristic of many memecoins, as trends, speculation, and the overall sentiment of the market can influence their prices.<\/p>\n\n\n\n
More On Memecoins<\/h2>\n\n\n\n
On May 11, 2023, @lookonchain<\/a>, a prominent cryptocurrency analyst, tweeted<\/a> about $PEPE and $LADYs (another meme coin). In his tweet, he praised how a cryptocurrency trader made huge profits trading meme coins. The trader bought $PEPE on Apr 18 and $LADYS before Elon Musk tweeted. In summary, his investment gained 36x on $PEPE and 35x on $LADYS. <\/p>\n\n\n\n
The meme coin phenomenon has emerged as a culture in the cryptocurrency space. We can notably refer to prominent meme coins like Dogecoin ($DOGE) and Shiba Inu ($SHIB). At the time of writing, these two cryptocurrencies ranked number 8 and number 15, respectively, according to Coinmarketcap. $DOGE and $SHIB have paved the way for other meme coins to gain traction in the crypto market.<\/p>\n","post_title":"Massive $PEPE Deposits Shake Crypto Exchanges; Market Value Plunges","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"massive-pepe-deposits-shake-crypto-exchanges-market-value-plunges","to_ping":"","pinged":"","post_modified":"2023-05-13 00:36:16","post_modified_gmt":"2023-05-12 14:36:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11677","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11401,"post_author":"13","post_date":"2023-05-02 11:29:00","post_date_gmt":"2023-05-02 01:29:00","post_content":"\n
\n
SUI farming will open for two days on BNB and TUSD pools beginning May 1.<\/li>\n\n\n\n
The token is expected to list afterward on Binance against BTC, USDT, TUSD, and BNB.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Binance has unveiled its 33rd project on Binance Luanchpoool, Sui, that allows users to farm SUI tokens using staked BNB and TrueUSD (TUSD).<\/p>\n\n\n\n
According to the announcement<\/a> on April 30, the farming of SUI tokens would run for 2 days beginning May 1. After that, the asset would be listed on Binance under trading pairs SUI\/BTC, SUI\/USDT, SUITUSD, and SUI\/BNB, subject to the relevant liquidity requirements.<\/p>\n\n\n\n
40 million SUI tokens are set for launchpool token rewards, 0.4% of the total token supply of 10 billion. So far, more than 9 million BNB tokens have been staked on the BNB pool, while the TUSD pool has more than 450 million staked TUSD.<\/p>\n\n\n\n
DPoS Layer-1 Blockchain<\/h2>\n\n\n\n
Sui<\/a> operates as a delegated proof of stake (DPoS) layer-1 blockchain<\/a> written on the Move programming language. The project has since raised $300 million in a series B funding round backed by Binance Labs and Coinbase - bringing its valuation to $2 billion.<\/p>\n\n\n\n
The project, hyped by its community of supporters as the \u2018Ethereum Killer\u2019<\/em>, uses a unique technology involving a parallel data model and execution engine to enhance transaction scaling. Besides, the blockchain employs an object-centric model for processing parallel transactions.<\/p>\n\n\n\n
The unveiling has pumped the price of Binance\u2019s native BNB token upwards despite a bearish market momentum. At press time, the token was changing hands for $333, representing a jump of 3% in the past day.<\/p>\n","post_title":"Binance Launches SUI Farming With Staked BNB And TrueUSD","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-launches-sui-farming-with-staked-bnb-and-trueusd","to_ping":"","pinged":"","post_modified":"2023-05-04 13:03:20","post_modified_gmt":"2023-05-04 03:03:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 … 10 Next

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November 24, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

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Follow The Distributed

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\n
Worldcoin has been in its beta for some time now; within \"the next six weeks\" the blockchain protocol is expected to launch and with that, transactions will begin being recorded.<\/p>\n","post_title":"OpenAI's Sam Altman To Secure $100M For Worldcoin; Will Start Recording Transactions In 6 Weeks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openais-sam-altman-to-secure-100m-for-worldcoin-will-start-recording-transactions-in-6-weeks","to_ping":"","pinged":"","post_modified":"2023-05-15 16:06:46","post_modified_gmt":"2023-05-15 06:06:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11728","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11677,"post_author":"15","post_date":"2023-05-13 00:36:12","post_date_gmt":"2023-05-12 14:36:12","post_content":"\n
In the last 24 hours, $46.37 million worth of $PEPE has been deposited into exchanges. The meme coin has net deposits from 1,176 addresses amounting to $22.94 million. $PEPE has seen a significant drop of 31% in value, shrinking its market value to around $500 million, as reported <\/a>by ScopeProtocol.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/ScopeProtocol\/status\/1656916635134066688?s=20\n<\/div><\/figure>\n\n\n\n
$PEPE is a meme coin that has gained significant popularity in cryptocurrency. It has captured the attention of crypto enthusiasts and investors due to its unique and humorous nature.<\/p>\n\n\n\n
Despite its playful image, $PEPE has also experienced fluctuations in its market price. This volatility is characteristic of many memecoins, as trends, speculation, and the overall sentiment of the market can influence their prices.<\/p>\n\n\n\n
More On Memecoins<\/h2>\n\n\n\n
On May 11, 2023, @lookonchain<\/a>, a prominent cryptocurrency analyst, tweeted<\/a> about $PEPE and $LADYs (another meme coin). In his tweet, he praised how a cryptocurrency trader made huge profits trading meme coins. The trader bought $PEPE on Apr 18 and $LADYS before Elon Musk tweeted. In summary, his investment gained 36x on $PEPE and 35x on $LADYS. <\/p>\n\n\n\n
The meme coin phenomenon has emerged as a culture in the cryptocurrency space. We can notably refer to prominent meme coins like Dogecoin ($DOGE) and Shiba Inu ($SHIB). At the time of writing, these two cryptocurrencies ranked number 8 and number 15, respectively, according to Coinmarketcap. $DOGE and $SHIB have paved the way for other meme coins to gain traction in the crypto market.<\/p>\n","post_title":"Massive $PEPE Deposits Shake Crypto Exchanges; Market Value Plunges","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"massive-pepe-deposits-shake-crypto-exchanges-market-value-plunges","to_ping":"","pinged":"","post_modified":"2023-05-13 00:36:16","post_modified_gmt":"2023-05-12 14:36:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11677","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11401,"post_author":"13","post_date":"2023-05-02 11:29:00","post_date_gmt":"2023-05-02 01:29:00","post_content":"\n
\n
SUI farming will open for two days on BNB and TUSD pools beginning May 1.<\/li>\n\n\n\n
The token is expected to list afterward on Binance against BTC, USDT, TUSD, and BNB.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Binance has unveiled its 33rd project on Binance Luanchpoool, Sui, that allows users to farm SUI tokens using staked BNB and TrueUSD (TUSD).<\/p>\n\n\n\n
According to the announcement<\/a> on April 30, the farming of SUI tokens would run for 2 days beginning May 1. After that, the asset would be listed on Binance under trading pairs SUI\/BTC, SUI\/USDT, SUITUSD, and SUI\/BNB, subject to the relevant liquidity requirements.<\/p>\n\n\n\n
40 million SUI tokens are set for launchpool token rewards, 0.4% of the total token supply of 10 billion. So far, more than 9 million BNB tokens have been staked on the BNB pool, while the TUSD pool has more than 450 million staked TUSD.<\/p>\n\n\n\n
DPoS Layer-1 Blockchain<\/h2>\n\n\n\n
Sui<\/a> operates as a delegated proof of stake (DPoS) layer-1 blockchain<\/a> written on the Move programming language. The project has since raised $300 million in a series B funding round backed by Binance Labs and Coinbase - bringing its valuation to $2 billion.<\/p>\n\n\n\n
The project, hyped by its community of supporters as the \u2018Ethereum Killer\u2019<\/em>, uses a unique technology involving a parallel data model and execution engine to enhance transaction scaling. Besides, the blockchain employs an object-centric model for processing parallel transactions.<\/p>\n\n\n\n
The unveiling has pumped the price of Binance\u2019s native BNB token upwards despite a bearish market momentum. At press time, the token was changing hands for $333, representing a jump of 3% in the past day.<\/p>\n","post_title":"Binance Launches SUI Farming With Staked BNB And TrueUSD","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-launches-sui-farming-with-staked-bnb-and-trueusd","to_ping":"","pinged":"","post_modified":"2023-05-04 13:03:20","post_modified_gmt":"2023-05-04 03:03:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 … 10 Next

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September 3, 2023

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November 24, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
World App is also integrated with Uniswap, so users can swap currencies in the wallet.<\/p>\n\n\n\n
Worldcoin has been in its beta for some time now; within \"the next six weeks\" the blockchain protocol is expected to launch and with that, transactions will begin being recorded.<\/p>\n","post_title":"OpenAI's Sam Altman To Secure $100M For Worldcoin; Will Start Recording Transactions In 6 Weeks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openais-sam-altman-to-secure-100m-for-worldcoin-will-start-recording-transactions-in-6-weeks","to_ping":"","pinged":"","post_modified":"2023-05-15 16:06:46","post_modified_gmt":"2023-05-15 06:06:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11728","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11677,"post_author":"15","post_date":"2023-05-13 00:36:12","post_date_gmt":"2023-05-12 14:36:12","post_content":"\n
In the last 24 hours, $46.37 million worth of $PEPE has been deposited into exchanges. The meme coin has net deposits from 1,176 addresses amounting to $22.94 million. $PEPE has seen a significant drop of 31% in value, shrinking its market value to around $500 million, as reported <\/a>by ScopeProtocol.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/ScopeProtocol\/status\/1656916635134066688?s=20\n<\/div><\/figure>\n\n\n\n
$PEPE is a meme coin that has gained significant popularity in cryptocurrency. It has captured the attention of crypto enthusiasts and investors due to its unique and humorous nature.<\/p>\n\n\n\n
Despite its playful image, $PEPE has also experienced fluctuations in its market price. This volatility is characteristic of many memecoins, as trends, speculation, and the overall sentiment of the market can influence their prices.<\/p>\n\n\n\n
More On Memecoins<\/h2>\n\n\n\n
On May 11, 2023, @lookonchain<\/a>, a prominent cryptocurrency analyst, tweeted<\/a> about $PEPE and $LADYs (another meme coin). In his tweet, he praised how a cryptocurrency trader made huge profits trading meme coins. The trader bought $PEPE on Apr 18 and $LADYS before Elon Musk tweeted. In summary, his investment gained 36x on $PEPE and 35x on $LADYS. <\/p>\n\n\n\n
The meme coin phenomenon has emerged as a culture in the cryptocurrency space. We can notably refer to prominent meme coins like Dogecoin ($DOGE) and Shiba Inu ($SHIB). At the time of writing, these two cryptocurrencies ranked number 8 and number 15, respectively, according to Coinmarketcap. $DOGE and $SHIB have paved the way for other meme coins to gain traction in the crypto market.<\/p>\n","post_title":"Massive $PEPE Deposits Shake Crypto Exchanges; Market Value Plunges","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"massive-pepe-deposits-shake-crypto-exchanges-market-value-plunges","to_ping":"","pinged":"","post_modified":"2023-05-13 00:36:16","post_modified_gmt":"2023-05-12 14:36:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11677","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11401,"post_author":"13","post_date":"2023-05-02 11:29:00","post_date_gmt":"2023-05-02 01:29:00","post_content":"\n
\n
SUI farming will open for two days on BNB and TUSD pools beginning May 1.<\/li>\n\n\n\n
The token is expected to list afterward on Binance against BTC, USDT, TUSD, and BNB.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Binance has unveiled its 33rd project on Binance Luanchpoool, Sui, that allows users to farm SUI tokens using staked BNB and TrueUSD (TUSD).<\/p>\n\n\n\n
According to the announcement<\/a> on April 30, the farming of SUI tokens would run for 2 days beginning May 1. After that, the asset would be listed on Binance under trading pairs SUI\/BTC, SUI\/USDT, SUITUSD, and SUI\/BNB, subject to the relevant liquidity requirements.<\/p>\n\n\n\n
40 million SUI tokens are set for launchpool token rewards, 0.4% of the total token supply of 10 billion. So far, more than 9 million BNB tokens have been staked on the BNB pool, while the TUSD pool has more than 450 million staked TUSD.<\/p>\n\n\n\n
DPoS Layer-1 Blockchain<\/h2>\n\n\n\n
Sui<\/a> operates as a delegated proof of stake (DPoS) layer-1 blockchain<\/a> written on the Move programming language. The project has since raised $300 million in a series B funding round backed by Binance Labs and Coinbase - bringing its valuation to $2 billion.<\/p>\n\n\n\n
The project, hyped by its community of supporters as the \u2018Ethereum Killer\u2019<\/em>, uses a unique technology involving a parallel data model and execution engine to enhance transaction scaling. Besides, the blockchain employs an object-centric model for processing parallel transactions.<\/p>\n\n\n\n
The unveiling has pumped the price of Binance\u2019s native BNB token upwards despite a bearish market momentum. At press time, the token was changing hands for $333, representing a jump of 3% in the past day.<\/p>\n","post_title":"Binance Launches SUI Farming With Staked BNB And TrueUSD","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-launches-sui-farming-with-staked-bnb-and-trueusd","to_ping":"","pinged":"","post_modified":"2023-05-04 13:03:20","post_modified_gmt":"2023-05-04 03:03:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 … 10 Next

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Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
Worldcoin launched a gas-free crypto wallet in early May of 2023 called World App. This wallet relies on a system called World ID which uses zero-knowledge proofs to verify that you're a real human with either a phone number or iris scan. The gasless transactions rely upon account abstraction<\/a>, a popular protocol on Ethereum, under ERC-4337<\/a>.<\/p>\n\n\n\n
World App is also integrated with Uniswap, so users can swap currencies in the wallet.<\/p>\n\n\n\n
Worldcoin has been in its beta for some time now; within \"the next six weeks\" the blockchain protocol is expected to launch and with that, transactions will begin being recorded.<\/p>\n","post_title":"OpenAI's Sam Altman To Secure $100M For Worldcoin; Will Start Recording Transactions In 6 Weeks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openais-sam-altman-to-secure-100m-for-worldcoin-will-start-recording-transactions-in-6-weeks","to_ping":"","pinged":"","post_modified":"2023-05-15 16:06:46","post_modified_gmt":"2023-05-15 06:06:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11728","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11677,"post_author":"15","post_date":"2023-05-13 00:36:12","post_date_gmt":"2023-05-12 14:36:12","post_content":"\n
In the last 24 hours, $46.37 million worth of $PEPE has been deposited into exchanges. The meme coin has net deposits from 1,176 addresses amounting to $22.94 million. $PEPE has seen a significant drop of 31% in value, shrinking its market value to around $500 million, as reported <\/a>by ScopeProtocol.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/ScopeProtocol\/status\/1656916635134066688?s=20\n<\/div><\/figure>\n\n\n\n
$PEPE is a meme coin that has gained significant popularity in cryptocurrency. It has captured the attention of crypto enthusiasts and investors due to its unique and humorous nature.<\/p>\n\n\n\n
Despite its playful image, $PEPE has also experienced fluctuations in its market price. This volatility is characteristic of many memecoins, as trends, speculation, and the overall sentiment of the market can influence their prices.<\/p>\n\n\n\n
More On Memecoins<\/h2>\n\n\n\n
On May 11, 2023, @lookonchain<\/a>, a prominent cryptocurrency analyst, tweeted<\/a> about $PEPE and $LADYs (another meme coin). In his tweet, he praised how a cryptocurrency trader made huge profits trading meme coins. The trader bought $PEPE on Apr 18 and $LADYS before Elon Musk tweeted. In summary, his investment gained 36x on $PEPE and 35x on $LADYS. <\/p>\n\n\n\n
The meme coin phenomenon has emerged as a culture in the cryptocurrency space. We can notably refer to prominent meme coins like Dogecoin ($DOGE) and Shiba Inu ($SHIB). At the time of writing, these two cryptocurrencies ranked number 8 and number 15, respectively, according to Coinmarketcap. $DOGE and $SHIB have paved the way for other meme coins to gain traction in the crypto market.<\/p>\n","post_title":"Massive $PEPE Deposits Shake Crypto Exchanges; Market Value Plunges","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"massive-pepe-deposits-shake-crypto-exchanges-market-value-plunges","to_ping":"","pinged":"","post_modified":"2023-05-13 00:36:16","post_modified_gmt":"2023-05-12 14:36:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11677","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11401,"post_author":"13","post_date":"2023-05-02 11:29:00","post_date_gmt":"2023-05-02 01:29:00","post_content":"\n
\n
SUI farming will open for two days on BNB and TUSD pools beginning May 1.<\/li>\n\n\n\n
The token is expected to list afterward on Binance against BTC, USDT, TUSD, and BNB.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Binance has unveiled its 33rd project on Binance Luanchpoool, Sui, that allows users to farm SUI tokens using staked BNB and TrueUSD (TUSD).<\/p>\n\n\n\n
According to the announcement<\/a> on April 30, the farming of SUI tokens would run for 2 days beginning May 1. After that, the asset would be listed on Binance under trading pairs SUI\/BTC, SUI\/USDT, SUITUSD, and SUI\/BNB, subject to the relevant liquidity requirements.<\/p>\n\n\n\n
40 million SUI tokens are set for launchpool token rewards, 0.4% of the total token supply of 10 billion. So far, more than 9 million BNB tokens have been staked on the BNB pool, while the TUSD pool has more than 450 million staked TUSD.<\/p>\n\n\n\n
DPoS Layer-1 Blockchain<\/h2>\n\n\n\n
Sui<\/a> operates as a delegated proof of stake (DPoS) layer-1 blockchain<\/a> written on the Move programming language. The project has since raised $300 million in a series B funding round backed by Binance Labs and Coinbase - bringing its valuation to $2 billion.<\/p>\n\n\n\n
The project, hyped by its community of supporters as the \u2018Ethereum Killer\u2019<\/em>, uses a unique technology involving a parallel data model and execution engine to enhance transaction scaling. Besides, the blockchain employs an object-centric model for processing parallel transactions.<\/p>\n\n\n\n
The unveiling has pumped the price of Binance\u2019s native BNB token upwards despite a bearish market momentum. At press time, the token was changing hands for $333, representing a jump of 3% in the past day.<\/p>\n","post_title":"Binance Launches SUI Farming With Staked BNB And TrueUSD","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-launches-sui-farming-with-staked-bnb-and-trueusd","to_ping":"","pinged":"","post_modified":"2023-05-04 13:03:20","post_modified_gmt":"2023-05-04 03:03:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 … 10 Next

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Altcoins

Ripple Challenges SEC’s Bid For Appeal In Legal Battle

September 3, 2023

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Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

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December 19, 2024

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Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

August 15, 2024

Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
Worldcoin Verification, Adoption, And Account Abstraction<\/h2>\n\n\n\n
Worldcoin launched a gas-free crypto wallet in early May of 2023 called World App. This wallet relies on a system called World ID which uses zero-knowledge proofs to verify that you're a real human with either a phone number or iris scan. The gasless transactions rely upon account abstraction<\/a>, a popular protocol on Ethereum, under ERC-4337<\/a>.<\/p>\n\n\n\n
World App is also integrated with Uniswap, so users can swap currencies in the wallet.<\/p>\n\n\n\n
Worldcoin has been in its beta for some time now; within \"the next six weeks\" the blockchain protocol is expected to launch and with that, transactions will begin being recorded.<\/p>\n","post_title":"OpenAI's Sam Altman To Secure $100M For Worldcoin; Will Start Recording Transactions In 6 Weeks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openais-sam-altman-to-secure-100m-for-worldcoin-will-start-recording-transactions-in-6-weeks","to_ping":"","pinged":"","post_modified":"2023-05-15 16:06:46","post_modified_gmt":"2023-05-15 06:06:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11728","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11677,"post_author":"15","post_date":"2023-05-13 00:36:12","post_date_gmt":"2023-05-12 14:36:12","post_content":"\n
In the last 24 hours, $46.37 million worth of $PEPE has been deposited into exchanges. The meme coin has net deposits from 1,176 addresses amounting to $22.94 million. $PEPE has seen a significant drop of 31% in value, shrinking its market value to around $500 million, as reported <\/a>by ScopeProtocol.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/ScopeProtocol\/status\/1656916635134066688?s=20\n<\/div><\/figure>\n\n\n\n
$PEPE is a meme coin that has gained significant popularity in cryptocurrency. It has captured the attention of crypto enthusiasts and investors due to its unique and humorous nature.<\/p>\n\n\n\n
Despite its playful image, $PEPE has also experienced fluctuations in its market price. This volatility is characteristic of many memecoins, as trends, speculation, and the overall sentiment of the market can influence their prices.<\/p>\n\n\n\n
More On Memecoins<\/h2>\n\n\n\n
On May 11, 2023, @lookonchain<\/a>, a prominent cryptocurrency analyst, tweeted<\/a> about $PEPE and $LADYs (another meme coin). In his tweet, he praised how a cryptocurrency trader made huge profits trading meme coins. The trader bought $PEPE on Apr 18 and $LADYS before Elon Musk tweeted. In summary, his investment gained 36x on $PEPE and 35x on $LADYS. <\/p>\n\n\n\n
The meme coin phenomenon has emerged as a culture in the cryptocurrency space. We can notably refer to prominent meme coins like Dogecoin ($DOGE) and Shiba Inu ($SHIB). At the time of writing, these two cryptocurrencies ranked number 8 and number 15, respectively, according to Coinmarketcap. $DOGE and $SHIB have paved the way for other meme coins to gain traction in the crypto market.<\/p>\n","post_title":"Massive $PEPE Deposits Shake Crypto Exchanges; Market Value Plunges","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"massive-pepe-deposits-shake-crypto-exchanges-market-value-plunges","to_ping":"","pinged":"","post_modified":"2023-05-13 00:36:16","post_modified_gmt":"2023-05-12 14:36:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11677","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11401,"post_author":"13","post_date":"2023-05-02 11:29:00","post_date_gmt":"2023-05-02 01:29:00","post_content":"\n
\n
SUI farming will open for two days on BNB and TUSD pools beginning May 1.<\/li>\n\n\n\n
The token is expected to list afterward on Binance against BTC, USDT, TUSD, and BNB.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Binance has unveiled its 33rd project on Binance Luanchpoool, Sui, that allows users to farm SUI tokens using staked BNB and TrueUSD (TUSD).<\/p>\n\n\n\n
According to the announcement<\/a> on April 30, the farming of SUI tokens would run for 2 days beginning May 1. After that, the asset would be listed on Binance under trading pairs SUI\/BTC, SUI\/USDT, SUITUSD, and SUI\/BNB, subject to the relevant liquidity requirements.<\/p>\n\n\n\n
40 million SUI tokens are set for launchpool token rewards, 0.4% of the total token supply of 10 billion. So far, more than 9 million BNB tokens have been staked on the BNB pool, while the TUSD pool has more than 450 million staked TUSD.<\/p>\n\n\n\n
DPoS Layer-1 Blockchain<\/h2>\n\n\n\n
Sui<\/a> operates as a delegated proof of stake (DPoS) layer-1 blockchain<\/a> written on the Move programming language. The project has since raised $300 million in a series B funding round backed by Binance Labs and Coinbase - bringing its valuation to $2 billion.<\/p>\n\n\n\n
The project, hyped by its community of supporters as the \u2018Ethereum Killer\u2019<\/em>, uses a unique technology involving a parallel data model and execution engine to enhance transaction scaling. Besides, the blockchain employs an object-centric model for processing parallel transactions.<\/p>\n\n\n\n
The unveiling has pumped the price of Binance\u2019s native BNB token upwards despite a bearish market momentum. At press time, the token was changing hands for $333, representing a jump of 3% in the past day.<\/p>\n","post_title":"Binance Launches SUI Farming With Staked BNB And TrueUSD","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-launches-sui-farming-with-staked-bnb-and-trueusd","to_ping":"","pinged":"","post_modified":"2023-05-04 13:03:20","post_modified_gmt":"2023-05-04 03:03:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 … 10 Next

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September 3, 2023

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By subscribing, you agree with our privacy and terms.

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Follow The Distributed

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\n
In March 2022, The Information\u00a0reported<\/a>\u00a0that the firm was looking to raise $100M\u00a0from investors through a private token sale, citing two people familiar with the situation. These sources stated that \u201cit\u2019s a bear market, a crypto winter. It\u2019s remarkable for a project in this space to get this amount of investment.\u201d<\/em><\/p>\n\n\n\n
Worldcoin Verification, Adoption, And Account Abstraction<\/h2>\n\n\n\nWorldcoin launched a gas-free crypto wallet in early May of 2023 called World App. This wallet relies on a system called World ID which uses zero-knowledge proofs to verify that you're a real human with either a phone number or iris scan. The gasless transactions rely upon account abstraction<\/a>, a popular protocol on Ethereum, under ERC-4337<\/a>.<\/p>\n\n\n\n
World App is also integrated with Uniswap, so users can swap currencies in the wallet.<\/p>\n\n\n\n
Worldcoin has been in its beta for some time now; within \"the next six weeks\" the blockchain protocol is expected to launch and with that, transactions will begin being recorded.<\/p>\n","post_title":"OpenAI's Sam Altman To Secure $100M For Worldcoin; Will Start Recording Transactions In 6 Weeks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openais-sam-altman-to-secure-100m-for-worldcoin-will-start-recording-transactions-in-6-weeks","to_ping":"","pinged":"","post_modified":"2023-05-15 16:06:46","post_modified_gmt":"2023-05-15 06:06:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11728","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11677,"post_author":"15","post_date":"2023-05-13 00:36:12","post_date_gmt":"2023-05-12 14:36:12","post_content":"\n
In the last 24 hours, $46.37 million worth of $PEPE has been deposited into exchanges. The meme coin has net deposits from 1,176 addresses amounting to $22.94 million. $PEPE has seen a significant drop of 31% in value, shrinking its market value to around $500 million, as reported <\/a>by ScopeProtocol.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/ScopeProtocol\/status\/1656916635134066688?s=20\n<\/div><\/figure>\n\n\n\n
$PEPE is a meme coin that has gained significant popularity in cryptocurrency. It has captured the attention of crypto enthusiasts and investors due to its unique and humorous nature.<\/p>\n\n\n\n
Despite its playful image, $PEPE has also experienced fluctuations in its market price. This volatility is characteristic of many memecoins, as trends, speculation, and the overall sentiment of the market can influence their prices.<\/p>\n\n\n\n
More On Memecoins<\/h2>\n\n\n\n
On May 11, 2023, @lookonchain<\/a>, a prominent cryptocurrency analyst, tweeted<\/a> about $PEPE and $LADYs (another meme coin). In his tweet, he praised how a cryptocurrency trader made huge profits trading meme coins. The trader bought $PEPE on Apr 18 and $LADYS before Elon Musk tweeted. In summary, his investment gained 36x on $PEPE and 35x on $LADYS. <\/p>\n\n\n\n
The meme coin phenomenon has emerged as a culture in the cryptocurrency space. We can notably refer to prominent meme coins like Dogecoin ($DOGE) and Shiba Inu ($SHIB). At the time of writing, these two cryptocurrencies ranked number 8 and number 15, respectively, according to Coinmarketcap. $DOGE and $SHIB have paved the way for other meme coins to gain traction in the crypto market.<\/p>\n","post_title":"Massive $PEPE Deposits Shake Crypto Exchanges; Market Value Plunges","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"massive-pepe-deposits-shake-crypto-exchanges-market-value-plunges","to_ping":"","pinged":"","post_modified":"2023-05-13 00:36:16","post_modified_gmt":"2023-05-12 14:36:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11677","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11401,"post_author":"13","post_date":"2023-05-02 11:29:00","post_date_gmt":"2023-05-02 01:29:00","post_content":"\n
\n
SUI farming will open for two days on BNB and TUSD pools beginning May 1.<\/li>\n\n\n\n
The token is expected to list afterward on Binance against BTC, USDT, TUSD, and BNB.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Binance has unveiled its 33rd project on Binance Luanchpoool, Sui, that allows users to farm SUI tokens using staked BNB and TrueUSD (TUSD).<\/p>\n\n\n\n
According to the announcement<\/a> on April 30, the farming of SUI tokens would run for 2 days beginning May 1. After that, the asset would be listed on Binance under trading pairs SUI\/BTC, SUI\/USDT, SUITUSD, and SUI\/BNB, subject to the relevant liquidity requirements.<\/p>\n\n\n\n
40 million SUI tokens are set for launchpool token rewards, 0.4% of the total token supply of 10 billion. So far, more than 9 million BNB tokens have been staked on the BNB pool, while the TUSD pool has more than 450 million staked TUSD.<\/p>\n\n\n\n
DPoS Layer-1 Blockchain<\/h2>\n\n\n\n
Sui<\/a> operates as a delegated proof of stake (DPoS) layer-1 blockchain<\/a> written on the Move programming language. The project has since raised $300 million in a series B funding round backed by Binance Labs and Coinbase - bringing its valuation to $2 billion.<\/p>\n\n\n\n
The project, hyped by its community of supporters as the \u2018Ethereum Killer\u2019<\/em>, uses a unique technology involving a parallel data model and execution engine to enhance transaction scaling. Besides, the blockchain employs an object-centric model for processing parallel transactions.<\/p>\n\n\n\n
The unveiling has pumped the price of Binance\u2019s native BNB token upwards despite a bearish market momentum. At press time, the token was changing hands for $333, representing a jump of 3% in the past day.<\/p>\n","post_title":"Binance Launches SUI Farming With Staked BNB And TrueUSD","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-launches-sui-farming-with-staked-bnb-and-trueusd","to_ping":"","pinged":"","post_modified":"2023-05-04 13:03:20","post_modified_gmt":"2023-05-04 03:03:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 … 10 Next

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November 24, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
The project<\/a> was founded in 2020 by Sam Altman, Alex Blania, and Max Novendstern. With over 1,697,000 sign ups already, Worldcoin aims to build \"the world\u2019s largest identity and financial network as a public utility, giving ownership to everyone, [and] to create universal access to the global economy regardless of country or background, accelerating the transition to an economic future that welcomes and benefits every person on the planet.<\/em><\/p>\n\n\n\n
In March 2022, The Information\u00a0reported<\/a>\u00a0that the firm was looking to raise $100M\u00a0from investors through a private token sale, citing two people familiar with the situation. These sources stated that \u201cit\u2019s a bear market, a crypto winter. It\u2019s remarkable for a project in this space to get this amount of investment.\u201d<\/em><\/p>\n\n\n\n
Worldcoin Verification, Adoption, And Account Abstraction<\/h2>\n\n\n\nWorldcoin launched a gas-free crypto wallet in early May of 2023 called World App. This wallet relies on a system called World ID which uses zero-knowledge proofs to verify that you're a real human with either a phone number or iris scan. The gasless transactions rely upon account abstraction<\/a>, a popular protocol on Ethereum, under ERC-4337<\/a>.<\/p>\n\n\n\n
World App is also integrated with Uniswap, so users can swap currencies in the wallet.<\/p>\n\n\n\n
Worldcoin has been in its beta for some time now; within \"the next six weeks\" the blockchain protocol is expected to launch and with that, transactions will begin being recorded.<\/p>\n","post_title":"OpenAI's Sam Altman To Secure $100M For Worldcoin; Will Start Recording Transactions In 6 Weeks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openais-sam-altman-to-secure-100m-for-worldcoin-will-start-recording-transactions-in-6-weeks","to_ping":"","pinged":"","post_modified":"2023-05-15 16:06:46","post_modified_gmt":"2023-05-15 06:06:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11728","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11677,"post_author":"15","post_date":"2023-05-13 00:36:12","post_date_gmt":"2023-05-12 14:36:12","post_content":"\n
In the last 24 hours, $46.37 million worth of $PEPE has been deposited into exchanges. The meme coin has net deposits from 1,176 addresses amounting to $22.94 million. $PEPE has seen a significant drop of 31% in value, shrinking its market value to around $500 million, as reported <\/a>by ScopeProtocol.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/ScopeProtocol\/status\/1656916635134066688?s=20\n<\/div><\/figure>\n\n\n\n
$PEPE is a meme coin that has gained significant popularity in cryptocurrency. It has captured the attention of crypto enthusiasts and investors due to its unique and humorous nature.<\/p>\n\n\n\n
Despite its playful image, $PEPE has also experienced fluctuations in its market price. This volatility is characteristic of many memecoins, as trends, speculation, and the overall sentiment of the market can influence their prices.<\/p>\n\n\n\n
More On Memecoins<\/h2>\n\n\n\n
On May 11, 2023, @lookonchain<\/a>, a prominent cryptocurrency analyst, tweeted<\/a> about $PEPE and $LADYs (another meme coin). In his tweet, he praised how a cryptocurrency trader made huge profits trading meme coins. The trader bought $PEPE on Apr 18 and $LADYS before Elon Musk tweeted. In summary, his investment gained 36x on $PEPE and 35x on $LADYS. <\/p>\n\n\n\n
The meme coin phenomenon has emerged as a culture in the cryptocurrency space. We can notably refer to prominent meme coins like Dogecoin ($DOGE) and Shiba Inu ($SHIB). At the time of writing, these two cryptocurrencies ranked number 8 and number 15, respectively, according to Coinmarketcap. $DOGE and $SHIB have paved the way for other meme coins to gain traction in the crypto market.<\/p>\n","post_title":"Massive $PEPE Deposits Shake Crypto Exchanges; Market Value Plunges","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"massive-pepe-deposits-shake-crypto-exchanges-market-value-plunges","to_ping":"","pinged":"","post_modified":"2023-05-13 00:36:16","post_modified_gmt":"2023-05-12 14:36:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11677","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11401,"post_author":"13","post_date":"2023-05-02 11:29:00","post_date_gmt":"2023-05-02 01:29:00","post_content":"\n
\n
SUI farming will open for two days on BNB and TUSD pools beginning May 1.<\/li>\n\n\n\n
The token is expected to list afterward on Binance against BTC, USDT, TUSD, and BNB.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Binance has unveiled its 33rd project on Binance Luanchpoool, Sui, that allows users to farm SUI tokens using staked BNB and TrueUSD (TUSD).<\/p>\n\n\n\n
According to the announcement<\/a> on April 30, the farming of SUI tokens would run for 2 days beginning May 1. After that, the asset would be listed on Binance under trading pairs SUI\/BTC, SUI\/USDT, SUITUSD, and SUI\/BNB, subject to the relevant liquidity requirements.<\/p>\n\n\n\n
40 million SUI tokens are set for launchpool token rewards, 0.4% of the total token supply of 10 billion. So far, more than 9 million BNB tokens have been staked on the BNB pool, while the TUSD pool has more than 450 million staked TUSD.<\/p>\n\n\n\n
DPoS Layer-1 Blockchain<\/h2>\n\n\n\n
Sui<\/a> operates as a delegated proof of stake (DPoS) layer-1 blockchain<\/a> written on the Move programming language. The project has since raised $300 million in a series B funding round backed by Binance Labs and Coinbase - bringing its valuation to $2 billion.<\/p>\n\n\n\n
The project, hyped by its community of supporters as the \u2018Ethereum Killer\u2019<\/em>, uses a unique technology involving a parallel data model and execution engine to enhance transaction scaling. Besides, the blockchain employs an object-centric model for processing parallel transactions.<\/p>\n\n\n\n
The unveiling has pumped the price of Binance\u2019s native BNB token upwards despite a bearish market momentum. At press time, the token was changing hands for $333, representing a jump of 3% in the past day.<\/p>\n","post_title":"Binance Launches SUI Farming With Staked BNB And TrueUSD","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-launches-sui-farming-with-staked-bnb-and-trueusd","to_ping":"","pinged":"","post_modified":"2023-05-04 13:03:20","post_modified_gmt":"2023-05-04 03:03:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 … 10 Next

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Ripple Challenges SEC’s Bid For Appeal In Legal Battle

September 3, 2023

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Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

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Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
A recent report<\/a> from Financial Times found that Worldcoin, a cryptocurrency project launched by OpenAI CEO Sam Altman, is close to securing $100M in funding. Those already backing the project include; a16z, Digital Currency Group and Coinbase Ventures; the new round of funding includes \u201cexisting and new investors.\u201d<\/em><\/p>\n\n\n\n
The project<\/a> was founded in 2020 by Sam Altman, Alex Blania, and Max Novendstern. With over 1,697,000 sign ups already, Worldcoin aims to build \"the world\u2019s largest identity and financial network as a public utility, giving ownership to everyone, [and] to create universal access to the global economy regardless of country or background, accelerating the transition to an economic future that welcomes and benefits every person on the planet.<\/em><\/p>\n\n\n\n
In March 2022, The Information\u00a0reported<\/a>\u00a0that the firm was looking to raise $100M\u00a0from investors through a private token sale, citing two people familiar with the situation. These sources stated that \u201cit\u2019s a bear market, a crypto winter. It\u2019s remarkable for a project in this space to get this amount of investment.\u201d<\/em><\/p>\n\n\n\n
Worldcoin Verification, Adoption, And Account Abstraction<\/h2>\n\n\n\nWorldcoin launched a gas-free crypto wallet in early May of 2023 called World App. This wallet relies on a system called World ID which uses zero-knowledge proofs to verify that you're a real human with either a phone number or iris scan. The gasless transactions rely upon account abstraction<\/a>, a popular protocol on Ethereum, under ERC-4337<\/a>.<\/p>\n\n\n\n
World App is also integrated with Uniswap, so users can swap currencies in the wallet.<\/p>\n\n\n\n
Worldcoin has been in its beta for some time now; within \"the next six weeks\" the blockchain protocol is expected to launch and with that, transactions will begin being recorded.<\/p>\n","post_title":"OpenAI's Sam Altman To Secure $100M For Worldcoin; Will Start Recording Transactions In 6 Weeks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openais-sam-altman-to-secure-100m-for-worldcoin-will-start-recording-transactions-in-6-weeks","to_ping":"","pinged":"","post_modified":"2023-05-15 16:06:46","post_modified_gmt":"2023-05-15 06:06:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11728","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11677,"post_author":"15","post_date":"2023-05-13 00:36:12","post_date_gmt":"2023-05-12 14:36:12","post_content":"\n
In the last 24 hours, $46.37 million worth of $PEPE has been deposited into exchanges. The meme coin has net deposits from 1,176 addresses amounting to $22.94 million. $PEPE has seen a significant drop of 31% in value, shrinking its market value to around $500 million, as reported <\/a>by ScopeProtocol.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/ScopeProtocol\/status\/1656916635134066688?s=20\n<\/div><\/figure>\n\n\n\n
$PEPE is a meme coin that has gained significant popularity in cryptocurrency. It has captured the attention of crypto enthusiasts and investors due to its unique and humorous nature.<\/p>\n\n\n\n
Despite its playful image, $PEPE has also experienced fluctuations in its market price. This volatility is characteristic of many memecoins, as trends, speculation, and the overall sentiment of the market can influence their prices.<\/p>\n\n\n\n
More On Memecoins<\/h2>\n\n\n\n
On May 11, 2023, @lookonchain<\/a>, a prominent cryptocurrency analyst, tweeted<\/a> about $PEPE and $LADYs (another meme coin). In his tweet, he praised how a cryptocurrency trader made huge profits trading meme coins. The trader bought $PEPE on Apr 18 and $LADYS before Elon Musk tweeted. In summary, his investment gained 36x on $PEPE and 35x on $LADYS. <\/p>\n\n\n\n
The meme coin phenomenon has emerged as a culture in the cryptocurrency space. We can notably refer to prominent meme coins like Dogecoin ($DOGE) and Shiba Inu ($SHIB). At the time of writing, these two cryptocurrencies ranked number 8 and number 15, respectively, according to Coinmarketcap. $DOGE and $SHIB have paved the way for other meme coins to gain traction in the crypto market.<\/p>\n","post_title":"Massive $PEPE Deposits Shake Crypto Exchanges; Market Value Plunges","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"massive-pepe-deposits-shake-crypto-exchanges-market-value-plunges","to_ping":"","pinged":"","post_modified":"2023-05-13 00:36:16","post_modified_gmt":"2023-05-12 14:36:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11677","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11401,"post_author":"13","post_date":"2023-05-02 11:29:00","post_date_gmt":"2023-05-02 01:29:00","post_content":"\n
\n
SUI farming will open for two days on BNB and TUSD pools beginning May 1.<\/li>\n\n\n\n
The token is expected to list afterward on Binance against BTC, USDT, TUSD, and BNB.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Binance has unveiled its 33rd project on Binance Luanchpoool, Sui, that allows users to farm SUI tokens using staked BNB and TrueUSD (TUSD).<\/p>\n\n\n\n
According to the announcement<\/a> on April 30, the farming of SUI tokens would run for 2 days beginning May 1. After that, the asset would be listed on Binance under trading pairs SUI\/BTC, SUI\/USDT, SUITUSD, and SUI\/BNB, subject to the relevant liquidity requirements.<\/p>\n\n\n\n
40 million SUI tokens are set for launchpool token rewards, 0.4% of the total token supply of 10 billion. So far, more than 9 million BNB tokens have been staked on the BNB pool, while the TUSD pool has more than 450 million staked TUSD.<\/p>\n\n\n\n
DPoS Layer-1 Blockchain<\/h2>\n\n\n\n
Sui<\/a> operates as a delegated proof of stake (DPoS) layer-1 blockchain<\/a> written on the Move programming language. The project has since raised $300 million in a series B funding round backed by Binance Labs and Coinbase - bringing its valuation to $2 billion.<\/p>\n\n\n\n
The project, hyped by its community of supporters as the \u2018Ethereum Killer\u2019<\/em>, uses a unique technology involving a parallel data model and execution engine to enhance transaction scaling. Besides, the blockchain employs an object-centric model for processing parallel transactions.<\/p>\n\n\n\n
The unveiling has pumped the price of Binance\u2019s native BNB token upwards despite a bearish market momentum. At press time, the token was changing hands for $333, representing a jump of 3% in the past day.<\/p>\n","post_title":"Binance Launches SUI Farming With Staked BNB And TrueUSD","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-launches-sui-farming-with-staked-bnb-and-trueusd","to_ping":"","pinged":"","post_modified":"2023-05-04 13:03:20","post_modified_gmt":"2023-05-04 03:03:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 … 10 Next

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Ripple Challenges SEC’s Bid For Appeal In Legal Battle

September 3, 2023

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Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

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November 24, 2024

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By subscribing, you agree with our privacy and terms.

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Follow The Distributed

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\n
XRP has added more than 5% in the past 24 hours following the development and was trading at $0.4487 at the time of writing. <\/p>\n","post_title":"Ripple Scores Major Victory In Case With The SEC As Court Denies Motion Filed By The Regulator","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-scores-major-victory-in-case-with-the-sec-as-court-denies-motion-filed-by-the-regulator","to_ping":"","pinged":"","post_modified":"2023-05-18 00:31:29","post_modified_gmt":"2023-05-17 14:31:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11770","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11728,"post_author":"12","post_date":"2023-05-15 16:06:43","post_date_gmt":"2023-05-15 06:06:43","post_content":"\n
A recent report<\/a> from Financial Times found that Worldcoin, a cryptocurrency project launched by OpenAI CEO Sam Altman, is close to securing $100M in funding. Those already backing the project include; a16z, Digital Currency Group and Coinbase Ventures; the new round of funding includes \u201cexisting and new investors.\u201d<\/em><\/p>\n\n\n\n
The project<\/a> was founded in 2020 by Sam Altman, Alex Blania, and Max Novendstern. With over 1,697,000 sign ups already, Worldcoin aims to build \"the world\u2019s largest identity and financial network as a public utility, giving ownership to everyone, [and] to create universal access to the global economy regardless of country or background, accelerating the transition to an economic future that welcomes and benefits every person on the planet.<\/em><\/p>\n\n\n\n
In March 2022, The Information\u00a0reported<\/a>\u00a0that the firm was looking to raise $100M\u00a0from investors through a private token sale, citing two people familiar with the situation. These sources stated that \u201cit\u2019s a bear market, a crypto winter. It\u2019s remarkable for a project in this space to get this amount of investment.\u201d<\/em><\/p>\n\n\n\n
Worldcoin Verification, Adoption, And Account Abstraction<\/h2>\n\n\n\nWorldcoin launched a gas-free crypto wallet in early May of 2023 called World App. This wallet relies on a system called World ID which uses zero-knowledge proofs to verify that you're a real human with either a phone number or iris scan. The gasless transactions rely upon account abstraction<\/a>, a popular protocol on Ethereum, under ERC-4337<\/a>.<\/p>\n\n\n\n
World App is also integrated with Uniswap, so users can swap currencies in the wallet.<\/p>\n\n\n\n
Worldcoin has been in its beta for some time now; within \"the next six weeks\" the blockchain protocol is expected to launch and with that, transactions will begin being recorded.<\/p>\n","post_title":"OpenAI's Sam Altman To Secure $100M For Worldcoin; Will Start Recording Transactions In 6 Weeks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openais-sam-altman-to-secure-100m-for-worldcoin-will-start-recording-transactions-in-6-weeks","to_ping":"","pinged":"","post_modified":"2023-05-15 16:06:46","post_modified_gmt":"2023-05-15 06:06:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11728","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11677,"post_author":"15","post_date":"2023-05-13 00:36:12","post_date_gmt":"2023-05-12 14:36:12","post_content":"\n
In the last 24 hours, $46.37 million worth of $PEPE has been deposited into exchanges. The meme coin has net deposits from 1,176 addresses amounting to $22.94 million. $PEPE has seen a significant drop of 31% in value, shrinking its market value to around $500 million, as reported <\/a>by ScopeProtocol.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/ScopeProtocol\/status\/1656916635134066688?s=20\n<\/div><\/figure>\n\n\n\n
$PEPE is a meme coin that has gained significant popularity in cryptocurrency. It has captured the attention of crypto enthusiasts and investors due to its unique and humorous nature.<\/p>\n\n\n\n
Despite its playful image, $PEPE has also experienced fluctuations in its market price. This volatility is characteristic of many memecoins, as trends, speculation, and the overall sentiment of the market can influence their prices.<\/p>\n\n\n\n
More On Memecoins<\/h2>\n\n\n\n
On May 11, 2023, @lookonchain<\/a>, a prominent cryptocurrency analyst, tweeted<\/a> about $PEPE and $LADYs (another meme coin). In his tweet, he praised how a cryptocurrency trader made huge profits trading meme coins. The trader bought $PEPE on Apr 18 and $LADYS before Elon Musk tweeted. In summary, his investment gained 36x on $PEPE and 35x on $LADYS. <\/p>\n\n\n\n
The meme coin phenomenon has emerged as a culture in the cryptocurrency space. We can notably refer to prominent meme coins like Dogecoin ($DOGE) and Shiba Inu ($SHIB). At the time of writing, these two cryptocurrencies ranked number 8 and number 15, respectively, according to Coinmarketcap. $DOGE and $SHIB have paved the way for other meme coins to gain traction in the crypto market.<\/p>\n","post_title":"Massive $PEPE Deposits Shake Crypto Exchanges; Market Value Plunges","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"massive-pepe-deposits-shake-crypto-exchanges-market-value-plunges","to_ping":"","pinged":"","post_modified":"2023-05-13 00:36:16","post_modified_gmt":"2023-05-12 14:36:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11677","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11401,"post_author":"13","post_date":"2023-05-02 11:29:00","post_date_gmt":"2023-05-02 01:29:00","post_content":"\n
\n
SUI farming will open for two days on BNB and TUSD pools beginning May 1.<\/li>\n\n\n\n
The token is expected to list afterward on Binance against BTC, USDT, TUSD, and BNB.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Binance has unveiled its 33rd project on Binance Luanchpoool, Sui, that allows users to farm SUI tokens using staked BNB and TrueUSD (TUSD).<\/p>\n\n\n\n
According to the announcement<\/a> on April 30, the farming of SUI tokens would run for 2 days beginning May 1. After that, the asset would be listed on Binance under trading pairs SUI\/BTC, SUI\/USDT, SUITUSD, and SUI\/BNB, subject to the relevant liquidity requirements.<\/p>\n\n\n\n
40 million SUI tokens are set for launchpool token rewards, 0.4% of the total token supply of 10 billion. So far, more than 9 million BNB tokens have been staked on the BNB pool, while the TUSD pool has more than 450 million staked TUSD.<\/p>\n\n\n\n
DPoS Layer-1 Blockchain<\/h2>\n\n\n\n
Sui<\/a> operates as a delegated proof of stake (DPoS) layer-1 blockchain<\/a> written on the Move programming language. The project has since raised $300 million in a series B funding round backed by Binance Labs and Coinbase - bringing its valuation to $2 billion.<\/p>\n\n\n\n
The project, hyped by its community of supporters as the \u2018Ethereum Killer\u2019<\/em>, uses a unique technology involving a parallel data model and execution engine to enhance transaction scaling. Besides, the blockchain employs an object-centric model for processing parallel transactions.<\/p>\n\n\n\n
The unveiling has pumped the price of Binance\u2019s native BNB token upwards despite a bearish market momentum. At press time, the token was changing hands for $333, representing a jump of 3% in the past day.<\/p>\n","post_title":"Binance Launches SUI Farming With Staked BNB And TrueUSD","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-launches-sui-farming-with-staked-bnb-and-trueusd","to_ping":"","pinged":"","post_modified":"2023-05-04 13:03:20","post_modified_gmt":"2023-05-04 03:03:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 … 10 Next

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Altcoins

Ripple Challenges SEC’s Bid For Appeal In Legal Battle

September 3, 2023

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

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August 15, 2024

Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
\u2018\u2018Regardless of whether the court ultimately determines that the Hinman Speech Documents are admissible, or whether the court relies on the documents in ruling on the summary judgment motions, they are judicial documents subject to a strong presumption of public access because they are \u2018relevant to the performance of the judicial function and useful in the judicial process,'\" <\/em>read the ruling.<\/p>\n\n\n\n
XRP has added more than 5% in the past 24 hours following the development and was trading at $0.4487 at the time of writing. <\/p>\n","post_title":"Ripple Scores Major Victory In Case With The SEC As Court Denies Motion Filed By The Regulator","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-scores-major-victory-in-case-with-the-sec-as-court-denies-motion-filed-by-the-regulator","to_ping":"","pinged":"","post_modified":"2023-05-18 00:31:29","post_modified_gmt":"2023-05-17 14:31:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11770","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11728,"post_author":"12","post_date":"2023-05-15 16:06:43","post_date_gmt":"2023-05-15 06:06:43","post_content":"\n
A recent report<\/a> from Financial Times found that Worldcoin, a cryptocurrency project launched by OpenAI CEO Sam Altman, is close to securing $100M in funding. Those already backing the project include; a16z, Digital Currency Group and Coinbase Ventures; the new round of funding includes \u201cexisting and new investors.\u201d<\/em><\/p>\n\n\n\n
The project<\/a> was founded in 2020 by Sam Altman, Alex Blania, and Max Novendstern. With over 1,697,000 sign ups already, Worldcoin aims to build \"the world\u2019s largest identity and financial network as a public utility, giving ownership to everyone, [and] to create universal access to the global economy regardless of country or background, accelerating the transition to an economic future that welcomes and benefits every person on the planet.<\/em><\/p>\n\n\n\n
In March 2022, The Information\u00a0reported<\/a>\u00a0that the firm was looking to raise $100M\u00a0from investors through a private token sale, citing two people familiar with the situation. These sources stated that \u201cit\u2019s a bear market, a crypto winter. It\u2019s remarkable for a project in this space to get this amount of investment.\u201d<\/em><\/p>\n\n\n\n
Worldcoin Verification, Adoption, And Account Abstraction<\/h2>\n\n\n\nWorldcoin launched a gas-free crypto wallet in early May of 2023 called World App. This wallet relies on a system called World ID which uses zero-knowledge proofs to verify that you're a real human with either a phone number or iris scan. The gasless transactions rely upon account abstraction<\/a>, a popular protocol on Ethereum, under ERC-4337<\/a>.<\/p>\n\n\n\n
World App is also integrated with Uniswap, so users can swap currencies in the wallet.<\/p>\n\n\n\n
Worldcoin has been in its beta for some time now; within \"the next six weeks\" the blockchain protocol is expected to launch and with that, transactions will begin being recorded.<\/p>\n","post_title":"OpenAI's Sam Altman To Secure $100M For Worldcoin; Will Start Recording Transactions In 6 Weeks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openais-sam-altman-to-secure-100m-for-worldcoin-will-start-recording-transactions-in-6-weeks","to_ping":"","pinged":"","post_modified":"2023-05-15 16:06:46","post_modified_gmt":"2023-05-15 06:06:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11728","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11677,"post_author":"15","post_date":"2023-05-13 00:36:12","post_date_gmt":"2023-05-12 14:36:12","post_content":"\n
In the last 24 hours, $46.37 million worth of $PEPE has been deposited into exchanges. The meme coin has net deposits from 1,176 addresses amounting to $22.94 million. $PEPE has seen a significant drop of 31% in value, shrinking its market value to around $500 million, as reported <\/a>by ScopeProtocol.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/ScopeProtocol\/status\/1656916635134066688?s=20\n<\/div><\/figure>\n\n\n\n
$PEPE is a meme coin that has gained significant popularity in cryptocurrency. It has captured the attention of crypto enthusiasts and investors due to its unique and humorous nature.<\/p>\n\n\n\n
Despite its playful image, $PEPE has also experienced fluctuations in its market price. This volatility is characteristic of many memecoins, as trends, speculation, and the overall sentiment of the market can influence their prices.<\/p>\n\n\n\n
More On Memecoins<\/h2>\n\n\n\n
On May 11, 2023, @lookonchain<\/a>, a prominent cryptocurrency analyst, tweeted<\/a> about $PEPE and $LADYs (another meme coin). In his tweet, he praised how a cryptocurrency trader made huge profits trading meme coins. The trader bought $PEPE on Apr 18 and $LADYS before Elon Musk tweeted. In summary, his investment gained 36x on $PEPE and 35x on $LADYS. <\/p>\n\n\n\n
The meme coin phenomenon has emerged as a culture in the cryptocurrency space. We can notably refer to prominent meme coins like Dogecoin ($DOGE) and Shiba Inu ($SHIB). At the time of writing, these two cryptocurrencies ranked number 8 and number 15, respectively, according to Coinmarketcap. $DOGE and $SHIB have paved the way for other meme coins to gain traction in the crypto market.<\/p>\n","post_title":"Massive $PEPE Deposits Shake Crypto Exchanges; Market Value Plunges","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"massive-pepe-deposits-shake-crypto-exchanges-market-value-plunges","to_ping":"","pinged":"","post_modified":"2023-05-13 00:36:16","post_modified_gmt":"2023-05-12 14:36:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11677","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11401,"post_author":"13","post_date":"2023-05-02 11:29:00","post_date_gmt":"2023-05-02 01:29:00","post_content":"\n
\n
SUI farming will open for two days on BNB and TUSD pools beginning May 1.<\/li>\n\n\n\n
The token is expected to list afterward on Binance against BTC, USDT, TUSD, and BNB.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Binance has unveiled its 33rd project on Binance Luanchpoool, Sui, that allows users to farm SUI tokens using staked BNB and TrueUSD (TUSD).<\/p>\n\n\n\n
According to the announcement<\/a> on April 30, the farming of SUI tokens would run for 2 days beginning May 1. After that, the asset would be listed on Binance under trading pairs SUI\/BTC, SUI\/USDT, SUITUSD, and SUI\/BNB, subject to the relevant liquidity requirements.<\/p>\n\n\n\n
40 million SUI tokens are set for launchpool token rewards, 0.4% of the total token supply of 10 billion. So far, more than 9 million BNB tokens have been staked on the BNB pool, while the TUSD pool has more than 450 million staked TUSD.<\/p>\n\n\n\n
DPoS Layer-1 Blockchain<\/h2>\n\n\n\n
Sui<\/a> operates as a delegated proof of stake (DPoS) layer-1 blockchain<\/a> written on the Move programming language. The project has since raised $300 million in a series B funding round backed by Binance Labs and Coinbase - bringing its valuation to $2 billion.<\/p>\n\n\n\n
The project, hyped by its community of supporters as the \u2018Ethereum Killer\u2019<\/em>, uses a unique technology involving a parallel data model and execution engine to enhance transaction scaling. Besides, the blockchain employs an object-centric model for processing parallel transactions.<\/p>\n\n\n\n
The unveiling has pumped the price of Binance\u2019s native BNB token upwards despite a bearish market momentum. At press time, the token was changing hands for $333, representing a jump of 3% in the past day.<\/p>\n","post_title":"Binance Launches SUI Farming With Staked BNB And TrueUSD","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-launches-sui-farming-with-staked-bnb-and-trueusd","to_ping":"","pinged":"","post_modified":"2023-05-04 13:03:20","post_modified_gmt":"2023-05-04 03:03:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 … 10 Next

Most Read

Altcoins

Ripple Challenges SEC’s Bid For Appeal In Legal Battle

September 3, 2023

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Artificial Intelligence

Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

August 15, 2024

Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
On December 22, the SEC filed a motion before Judge Torres to have all the documents containing Hinman\u2019s speech sealed from the public, saying they were irrelevant to the court\u2019s summary judgment. Further, the commission added that having the documents sealed preserved \u2018openness and candour\u2019, which the court has also rejected.<\/p>\n\n\n\n
\u2018\u2018Regardless of whether the court ultimately determines that the Hinman Speech Documents are admissible, or whether the court relies on the documents in ruling on the summary judgment motions, they are judicial documents subject to a strong presumption of public access because they are \u2018relevant to the performance of the judicial function and useful in the judicial process,'\" <\/em>read the ruling.<\/p>\n\n\n\n
XRP has added more than 5% in the past 24 hours following the development and was trading at $0.4487 at the time of writing. <\/p>\n","post_title":"Ripple Scores Major Victory In Case With The SEC As Court Denies Motion Filed By The Regulator","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-scores-major-victory-in-case-with-the-sec-as-court-denies-motion-filed-by-the-regulator","to_ping":"","pinged":"","post_modified":"2023-05-18 00:31:29","post_modified_gmt":"2023-05-17 14:31:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11770","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11728,"post_author":"12","post_date":"2023-05-15 16:06:43","post_date_gmt":"2023-05-15 06:06:43","post_content":"\n
A recent report<\/a> from Financial Times found that Worldcoin, a cryptocurrency project launched by OpenAI CEO Sam Altman, is close to securing $100M in funding. Those already backing the project include; a16z, Digital Currency Group and Coinbase Ventures; the new round of funding includes \u201cexisting and new investors.\u201d<\/em><\/p>\n\n\n\n
The project<\/a> was founded in 2020 by Sam Altman, Alex Blania, and Max Novendstern. With over 1,697,000 sign ups already, Worldcoin aims to build \"the world\u2019s largest identity and financial network as a public utility, giving ownership to everyone, [and] to create universal access to the global economy regardless of country or background, accelerating the transition to an economic future that welcomes and benefits every person on the planet.<\/em><\/p>\n\n\n\n
In March 2022, The Information\u00a0reported<\/a>\u00a0that the firm was looking to raise $100M\u00a0from investors through a private token sale, citing two people familiar with the situation. These sources stated that \u201cit\u2019s a bear market, a crypto winter. It\u2019s remarkable for a project in this space to get this amount of investment.\u201d<\/em><\/p>\n\n\n\n
Worldcoin Verification, Adoption, And Account Abstraction<\/h2>\n\n\n\nWorldcoin launched a gas-free crypto wallet in early May of 2023 called World App. This wallet relies on a system called World ID which uses zero-knowledge proofs to verify that you're a real human with either a phone number or iris scan. The gasless transactions rely upon account abstraction<\/a>, a popular protocol on Ethereum, under ERC-4337<\/a>.<\/p>\n\n\n\n
World App is also integrated with Uniswap, so users can swap currencies in the wallet.<\/p>\n\n\n\n
Worldcoin has been in its beta for some time now; within \"the next six weeks\" the blockchain protocol is expected to launch and with that, transactions will begin being recorded.<\/p>\n","post_title":"OpenAI's Sam Altman To Secure $100M For Worldcoin; Will Start Recording Transactions In 6 Weeks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openais-sam-altman-to-secure-100m-for-worldcoin-will-start-recording-transactions-in-6-weeks","to_ping":"","pinged":"","post_modified":"2023-05-15 16:06:46","post_modified_gmt":"2023-05-15 06:06:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11728","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11677,"post_author":"15","post_date":"2023-05-13 00:36:12","post_date_gmt":"2023-05-12 14:36:12","post_content":"\n
In the last 24 hours, $46.37 million worth of $PEPE has been deposited into exchanges. The meme coin has net deposits from 1,176 addresses amounting to $22.94 million. $PEPE has seen a significant drop of 31% in value, shrinking its market value to around $500 million, as reported <\/a>by ScopeProtocol.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/ScopeProtocol\/status\/1656916635134066688?s=20\n<\/div><\/figure>\n\n\n\n
$PEPE is a meme coin that has gained significant popularity in cryptocurrency. It has captured the attention of crypto enthusiasts and investors due to its unique and humorous nature.<\/p>\n\n\n\n
Despite its playful image, $PEPE has also experienced fluctuations in its market price. This volatility is characteristic of many memecoins, as trends, speculation, and the overall sentiment of the market can influence their prices.<\/p>\n\n\n\n
More On Memecoins<\/h2>\n\n\n\n
On May 11, 2023, @lookonchain<\/a>, a prominent cryptocurrency analyst, tweeted<\/a> about $PEPE and $LADYs (another meme coin). In his tweet, he praised how a cryptocurrency trader made huge profits trading meme coins. The trader bought $PEPE on Apr 18 and $LADYS before Elon Musk tweeted. In summary, his investment gained 36x on $PEPE and 35x on $LADYS. <\/p>\n\n\n\n
The meme coin phenomenon has emerged as a culture in the cryptocurrency space. We can notably refer to prominent meme coins like Dogecoin ($DOGE) and Shiba Inu ($SHIB). At the time of writing, these two cryptocurrencies ranked number 8 and number 15, respectively, according to Coinmarketcap. $DOGE and $SHIB have paved the way for other meme coins to gain traction in the crypto market.<\/p>\n","post_title":"Massive $PEPE Deposits Shake Crypto Exchanges; Market Value Plunges","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"massive-pepe-deposits-shake-crypto-exchanges-market-value-plunges","to_ping":"","pinged":"","post_modified":"2023-05-13 00:36:16","post_modified_gmt":"2023-05-12 14:36:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11677","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11401,"post_author":"13","post_date":"2023-05-02 11:29:00","post_date_gmt":"2023-05-02 01:29:00","post_content":"\n
\n
SUI farming will open for two days on BNB and TUSD pools beginning May 1.<\/li>\n\n\n\n
The token is expected to list afterward on Binance against BTC, USDT, TUSD, and BNB.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Binance has unveiled its 33rd project on Binance Luanchpoool, Sui, that allows users to farm SUI tokens using staked BNB and TrueUSD (TUSD).<\/p>\n\n\n\n
According to the announcement<\/a> on April 30, the farming of SUI tokens would run for 2 days beginning May 1. After that, the asset would be listed on Binance under trading pairs SUI\/BTC, SUI\/USDT, SUITUSD, and SUI\/BNB, subject to the relevant liquidity requirements.<\/p>\n\n\n\n
40 million SUI tokens are set for launchpool token rewards, 0.4% of the total token supply of 10 billion. So far, more than 9 million BNB tokens have been staked on the BNB pool, while the TUSD pool has more than 450 million staked TUSD.<\/p>\n\n\n\n
DPoS Layer-1 Blockchain<\/h2>\n\n\n\n
Sui<\/a> operates as a delegated proof of stake (DPoS) layer-1 blockchain<\/a> written on the Move programming language. The project has since raised $300 million in a series B funding round backed by Binance Labs and Coinbase - bringing its valuation to $2 billion.<\/p>\n\n\n\n
The project, hyped by its community of supporters as the \u2018Ethereum Killer\u2019<\/em>, uses a unique technology involving a parallel data model and execution engine to enhance transaction scaling. Besides, the blockchain employs an object-centric model for processing parallel transactions.<\/p>\n\n\n\n
The unveiling has pumped the price of Binance\u2019s native BNB token upwards despite a bearish market momentum. At press time, the token was changing hands for $333, representing a jump of 3% in the past day.<\/p>\n","post_title":"Binance Launches SUI Farming With Staked BNB And TrueUSD","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-launches-sui-farming-with-staked-bnb-and-trueusd","to_ping":"","pinged":"","post_modified":"2023-05-04 13:03:20","post_modified_gmt":"2023-05-04 03:03:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 … 10 Next

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November 24, 2024

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By subscribing, you agree with our privacy and terms.

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Follow The Distributed

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\n
The SEC\u2019s Position On The Matter<\/h2>\n\n\n\n
On December 22, the SEC filed a motion before Judge Torres to have all the documents containing Hinman\u2019s speech sealed from the public, saying they were irrelevant to the court\u2019s summary judgment. Further, the commission added that having the documents sealed preserved \u2018openness and candour\u2019, which the court has also rejected.<\/p>\n\n\n\n
\u2018\u2018Regardless of whether the court ultimately determines that the Hinman Speech Documents are admissible, or whether the court relies on the documents in ruling on the summary judgment motions, they are judicial documents subject to a strong presumption of public access because they are \u2018relevant to the performance of the judicial function and useful in the judicial process,'\" <\/em>read the ruling.<\/p>\n\n\n\n
XRP has added more than 5% in the past 24 hours following the development and was trading at $0.4487 at the time of writing. <\/p>\n","post_title":"Ripple Scores Major Victory In Case With The SEC As Court Denies Motion Filed By The Regulator","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-scores-major-victory-in-case-with-the-sec-as-court-denies-motion-filed-by-the-regulator","to_ping":"","pinged":"","post_modified":"2023-05-18 00:31:29","post_modified_gmt":"2023-05-17 14:31:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11770","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11728,"post_author":"12","post_date":"2023-05-15 16:06:43","post_date_gmt":"2023-05-15 06:06:43","post_content":"\n
A recent report<\/a> from Financial Times found that Worldcoin, a cryptocurrency project launched by OpenAI CEO Sam Altman, is close to securing $100M in funding. Those already backing the project include; a16z, Digital Currency Group and Coinbase Ventures; the new round of funding includes \u201cexisting and new investors.\u201d<\/em><\/p>\n\n\n\n
The project<\/a> was founded in 2020 by Sam Altman, Alex Blania, and Max Novendstern. With over 1,697,000 sign ups already, Worldcoin aims to build \"the world\u2019s largest identity and financial network as a public utility, giving ownership to everyone, [and] to create universal access to the global economy regardless of country or background, accelerating the transition to an economic future that welcomes and benefits every person on the planet.<\/em><\/p>\n\n\n\n
In March 2022, The Information\u00a0reported<\/a>\u00a0that the firm was looking to raise $100M\u00a0from investors through a private token sale, citing two people familiar with the situation. These sources stated that \u201cit\u2019s a bear market, a crypto winter. It\u2019s remarkable for a project in this space to get this amount of investment.\u201d<\/em><\/p>\n\n\n\n
Worldcoin Verification, Adoption, And Account Abstraction<\/h2>\n\n\n\nWorldcoin launched a gas-free crypto wallet in early May of 2023 called World App. This wallet relies on a system called World ID which uses zero-knowledge proofs to verify that you're a real human with either a phone number or iris scan. The gasless transactions rely upon account abstraction<\/a>, a popular protocol on Ethereum, under ERC-4337<\/a>.<\/p>\n\n\n\n
World App is also integrated with Uniswap, so users can swap currencies in the wallet.<\/p>\n\n\n\n
Worldcoin has been in its beta for some time now; within \"the next six weeks\" the blockchain protocol is expected to launch and with that, transactions will begin being recorded.<\/p>\n","post_title":"OpenAI's Sam Altman To Secure $100M For Worldcoin; Will Start Recording Transactions In 6 Weeks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openais-sam-altman-to-secure-100m-for-worldcoin-will-start-recording-transactions-in-6-weeks","to_ping":"","pinged":"","post_modified":"2023-05-15 16:06:46","post_modified_gmt":"2023-05-15 06:06:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11728","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11677,"post_author":"15","post_date":"2023-05-13 00:36:12","post_date_gmt":"2023-05-12 14:36:12","post_content":"\n
In the last 24 hours, $46.37 million worth of $PEPE has been deposited into exchanges. The meme coin has net deposits from 1,176 addresses amounting to $22.94 million. $PEPE has seen a significant drop of 31% in value, shrinking its market value to around $500 million, as reported <\/a>by ScopeProtocol.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/ScopeProtocol\/status\/1656916635134066688?s=20\n<\/div><\/figure>\n\n\n\n
$PEPE is a meme coin that has gained significant popularity in cryptocurrency. It has captured the attention of crypto enthusiasts and investors due to its unique and humorous nature.<\/p>\n\n\n\n
Despite its playful image, $PEPE has also experienced fluctuations in its market price. This volatility is characteristic of many memecoins, as trends, speculation, and the overall sentiment of the market can influence their prices.<\/p>\n\n\n\n
More On Memecoins<\/h2>\n\n\n\n
On May 11, 2023, @lookonchain<\/a>, a prominent cryptocurrency analyst, tweeted<\/a> about $PEPE and $LADYs (another meme coin). In his tweet, he praised how a cryptocurrency trader made huge profits trading meme coins. The trader bought $PEPE on Apr 18 and $LADYS before Elon Musk tweeted. In summary, his investment gained 36x on $PEPE and 35x on $LADYS. <\/p>\n\n\n\n
The meme coin phenomenon has emerged as a culture in the cryptocurrency space. We can notably refer to prominent meme coins like Dogecoin ($DOGE) and Shiba Inu ($SHIB). At the time of writing, these two cryptocurrencies ranked number 8 and number 15, respectively, according to Coinmarketcap. $DOGE and $SHIB have paved the way for other meme coins to gain traction in the crypto market.<\/p>\n","post_title":"Massive $PEPE Deposits Shake Crypto Exchanges; Market Value Plunges","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"massive-pepe-deposits-shake-crypto-exchanges-market-value-plunges","to_ping":"","pinged":"","post_modified":"2023-05-13 00:36:16","post_modified_gmt":"2023-05-12 14:36:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11677","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11401,"post_author":"13","post_date":"2023-05-02 11:29:00","post_date_gmt":"2023-05-02 01:29:00","post_content":"\n
\n
SUI farming will open for two days on BNB and TUSD pools beginning May 1.<\/li>\n\n\n\n
The token is expected to list afterward on Binance against BTC, USDT, TUSD, and BNB.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Binance has unveiled its 33rd project on Binance Luanchpoool, Sui, that allows users to farm SUI tokens using staked BNB and TrueUSD (TUSD).<\/p>\n\n\n\n
According to the announcement<\/a> on April 30, the farming of SUI tokens would run for 2 days beginning May 1. After that, the asset would be listed on Binance under trading pairs SUI\/BTC, SUI\/USDT, SUITUSD, and SUI\/BNB, subject to the relevant liquidity requirements.<\/p>\n\n\n\n
40 million SUI tokens are set for launchpool token rewards, 0.4% of the total token supply of 10 billion. So far, more than 9 million BNB tokens have been staked on the BNB pool, while the TUSD pool has more than 450 million staked TUSD.<\/p>\n\n\n\n
DPoS Layer-1 Blockchain<\/h2>\n\n\n\n
Sui<\/a> operates as a delegated proof of stake (DPoS) layer-1 blockchain<\/a> written on the Move programming language. The project has since raised $300 million in a series B funding round backed by Binance Labs and Coinbase - bringing its valuation to $2 billion.<\/p>\n\n\n\n
The project, hyped by its community of supporters as the \u2018Ethereum Killer\u2019<\/em>, uses a unique technology involving a parallel data model and execution engine to enhance transaction scaling. Besides, the blockchain employs an object-centric model for processing parallel transactions.<\/p>\n\n\n\n
The unveiling has pumped the price of Binance\u2019s native BNB token upwards despite a bearish market momentum. At press time, the token was changing hands for $333, representing a jump of 3% in the past day.<\/p>\n","post_title":"Binance Launches SUI Farming With Staked BNB And TrueUSD","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-launches-sui-farming-with-staked-bnb-and-trueusd","to_ping":"","pinged":"","post_modified":"2023-05-04 13:03:20","post_modified_gmt":"2023-05-04 03:03:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 … 10 Next

Most Read

Altcoins

Ripple Challenges SEC’s Bid For Appeal In Legal Battle

September 3, 2023

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

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Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

August 15, 2024

Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
As a recap, the SEC is suing<\/a> Ripple for selling unregistered securities. At the centre of the legal matter is a controversial speech by the former finance division director at the commission, William Hinman, who stated that Ether, the native cryptocurrency to the Ethereum blockchain, was not a security. The statement is believed to influence the much-awaited summary judgment considerably.<\/p>\n\n\n\n
The SEC\u2019s Position On The Matter<\/h2>\n\n\n\n
On December 22, the SEC filed a motion before Judge Torres to have all the documents containing Hinman\u2019s speech sealed from the public, saying they were irrelevant to the court\u2019s summary judgment. Further, the commission added that having the documents sealed preserved \u2018openness and candour\u2019, which the court has also rejected.<\/p>\n\n\n\n
\u2018\u2018Regardless of whether the court ultimately determines that the Hinman Speech Documents are admissible, or whether the court relies on the documents in ruling on the summary judgment motions, they are judicial documents subject to a strong presumption of public access because they are \u2018relevant to the performance of the judicial function and useful in the judicial process,'\" <\/em>read the ruling.<\/p>\n\n\n\n
XRP has added more than 5% in the past 24 hours following the development and was trading at $0.4487 at the time of writing. <\/p>\n","post_title":"Ripple Scores Major Victory In Case With The SEC As Court Denies Motion Filed By The Regulator","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-scores-major-victory-in-case-with-the-sec-as-court-denies-motion-filed-by-the-regulator","to_ping":"","pinged":"","post_modified":"2023-05-18 00:31:29","post_modified_gmt":"2023-05-17 14:31:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11770","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11728,"post_author":"12","post_date":"2023-05-15 16:06:43","post_date_gmt":"2023-05-15 06:06:43","post_content":"\n
A recent report<\/a> from Financial Times found that Worldcoin, a cryptocurrency project launched by OpenAI CEO Sam Altman, is close to securing $100M in funding. Those already backing the project include; a16z, Digital Currency Group and Coinbase Ventures; the new round of funding includes \u201cexisting and new investors.\u201d<\/em><\/p>\n\n\n\n
The project<\/a> was founded in 2020 by Sam Altman, Alex Blania, and Max Novendstern. With over 1,697,000 sign ups already, Worldcoin aims to build \"the world\u2019s largest identity and financial network as a public utility, giving ownership to everyone, [and] to create universal access to the global economy regardless of country or background, accelerating the transition to an economic future that welcomes and benefits every person on the planet.<\/em><\/p>\n\n\n\n
In March 2022, The Information\u00a0reported<\/a>\u00a0that the firm was looking to raise $100M\u00a0from investors through a private token sale, citing two people familiar with the situation. These sources stated that \u201cit\u2019s a bear market, a crypto winter. It\u2019s remarkable for a project in this space to get this amount of investment.\u201d<\/em><\/p>\n\n\n\n
Worldcoin Verification, Adoption, And Account Abstraction<\/h2>\n\n\n\nWorldcoin launched a gas-free crypto wallet in early May of 2023 called World App. This wallet relies on a system called World ID which uses zero-knowledge proofs to verify that you're a real human with either a phone number or iris scan. The gasless transactions rely upon account abstraction<\/a>, a popular protocol on Ethereum, under ERC-4337<\/a>.<\/p>\n\n\n\n
World App is also integrated with Uniswap, so users can swap currencies in the wallet.<\/p>\n\n\n\n
Worldcoin has been in its beta for some time now; within \"the next six weeks\" the blockchain protocol is expected to launch and with that, transactions will begin being recorded.<\/p>\n","post_title":"OpenAI's Sam Altman To Secure $100M For Worldcoin; Will Start Recording Transactions In 6 Weeks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openais-sam-altman-to-secure-100m-for-worldcoin-will-start-recording-transactions-in-6-weeks","to_ping":"","pinged":"","post_modified":"2023-05-15 16:06:46","post_modified_gmt":"2023-05-15 06:06:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11728","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11677,"post_author":"15","post_date":"2023-05-13 00:36:12","post_date_gmt":"2023-05-12 14:36:12","post_content":"\n
In the last 24 hours, $46.37 million worth of $PEPE has been deposited into exchanges. The meme coin has net deposits from 1,176 addresses amounting to $22.94 million. $PEPE has seen a significant drop of 31% in value, shrinking its market value to around $500 million, as reported <\/a>by ScopeProtocol.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/ScopeProtocol\/status\/1656916635134066688?s=20\n<\/div><\/figure>\n\n\n\n
$PEPE is a meme coin that has gained significant popularity in cryptocurrency. It has captured the attention of crypto enthusiasts and investors due to its unique and humorous nature.<\/p>\n\n\n\n
Despite its playful image, $PEPE has also experienced fluctuations in its market price. This volatility is characteristic of many memecoins, as trends, speculation, and the overall sentiment of the market can influence their prices.<\/p>\n\n\n\n
More On Memecoins<\/h2>\n\n\n\n
On May 11, 2023, @lookonchain<\/a>, a prominent cryptocurrency analyst, tweeted<\/a> about $PEPE and $LADYs (another meme coin). In his tweet, he praised how a cryptocurrency trader made huge profits trading meme coins. The trader bought $PEPE on Apr 18 and $LADYS before Elon Musk tweeted. In summary, his investment gained 36x on $PEPE and 35x on $LADYS. <\/p>\n\n\n\n
The meme coin phenomenon has emerged as a culture in the cryptocurrency space. We can notably refer to prominent meme coins like Dogecoin ($DOGE) and Shiba Inu ($SHIB). At the time of writing, these two cryptocurrencies ranked number 8 and number 15, respectively, according to Coinmarketcap. $DOGE and $SHIB have paved the way for other meme coins to gain traction in the crypto market.<\/p>\n","post_title":"Massive $PEPE Deposits Shake Crypto Exchanges; Market Value Plunges","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"massive-pepe-deposits-shake-crypto-exchanges-market-value-plunges","to_ping":"","pinged":"","post_modified":"2023-05-13 00:36:16","post_modified_gmt":"2023-05-12 14:36:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11677","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11401,"post_author":"13","post_date":"2023-05-02 11:29:00","post_date_gmt":"2023-05-02 01:29:00","post_content":"\n
\n
SUI farming will open for two days on BNB and TUSD pools beginning May 1.<\/li>\n\n\n\n
The token is expected to list afterward on Binance against BTC, USDT, TUSD, and BNB.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Binance has unveiled its 33rd project on Binance Luanchpoool, Sui, that allows users to farm SUI tokens using staked BNB and TrueUSD (TUSD).<\/p>\n\n\n\n
According to the announcement<\/a> on April 30, the farming of SUI tokens would run for 2 days beginning May 1. After that, the asset would be listed on Binance under trading pairs SUI\/BTC, SUI\/USDT, SUITUSD, and SUI\/BNB, subject to the relevant liquidity requirements.<\/p>\n\n\n\n
40 million SUI tokens are set for launchpool token rewards, 0.4% of the total token supply of 10 billion. So far, more than 9 million BNB tokens have been staked on the BNB pool, while the TUSD pool has more than 450 million staked TUSD.<\/p>\n\n\n\n
DPoS Layer-1 Blockchain<\/h2>\n\n\n\n
Sui<\/a> operates as a delegated proof of stake (DPoS) layer-1 blockchain<\/a> written on the Move programming language. The project has since raised $300 million in a series B funding round backed by Binance Labs and Coinbase - bringing its valuation to $2 billion.<\/p>\n\n\n\n
The project, hyped by its community of supporters as the \u2018Ethereum Killer\u2019<\/em>, uses a unique technology involving a parallel data model and execution engine to enhance transaction scaling. Besides, the blockchain employs an object-centric model for processing parallel transactions.<\/p>\n\n\n\n
The unveiling has pumped the price of Binance\u2019s native BNB token upwards despite a bearish market momentum. At press time, the token was changing hands for $333, representing a jump of 3% in the past day.<\/p>\n","post_title":"Binance Launches SUI Farming With Staked BNB And TrueUSD","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-launches-sui-farming-with-staked-bnb-and-trueusd","to_ping":"","pinged":"","post_modified":"2023-05-04 13:03:20","post_modified_gmt":"2023-05-04 03:03:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 … 10 Next

Most Read

Altcoins

Ripple Challenges SEC’s Bid For Appeal In Legal Battle

September 3, 2023

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Artificial Intelligence

Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

August 15, 2024

Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
Judge Analisa Torres of the US District Court has disagreed<\/a> with SEC\u2019s move to seal Hinman\u2019s Speech documents, comprising emails, text messages, and expert reports, saying they were \u2018judicial documents\u2019 subject to a strong presumption of public access.<\/p>\n\n\n\n
As a recap, the SEC is suing<\/a> Ripple for selling unregistered securities. At the centre of the legal matter is a controversial speech by the former finance division director at the commission, William Hinman, who stated that Ether, the native cryptocurrency to the Ethereum blockchain, was not a security. The statement is believed to influence the much-awaited summary judgment considerably.<\/p>\n\n\n\n
The SEC\u2019s Position On The Matter<\/h2>\n\n\n\n
On December 22, the SEC filed a motion before Judge Torres to have all the documents containing Hinman\u2019s speech sealed from the public, saying they were irrelevant to the court\u2019s summary judgment. Further, the commission added that having the documents sealed preserved \u2018openness and candour\u2019, which the court has also rejected.<\/p>\n\n\n\n
\u2018\u2018Regardless of whether the court ultimately determines that the Hinman Speech Documents are admissible, or whether the court relies on the documents in ruling on the summary judgment motions, they are judicial documents subject to a strong presumption of public access because they are \u2018relevant to the performance of the judicial function and useful in the judicial process,'\" <\/em>read the ruling.<\/p>\n\n\n\n
XRP has added more than 5% in the past 24 hours following the development and was trading at $0.4487 at the time of writing. <\/p>\n","post_title":"Ripple Scores Major Victory In Case With The SEC As Court Denies Motion Filed By The Regulator","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-scores-major-victory-in-case-with-the-sec-as-court-denies-motion-filed-by-the-regulator","to_ping":"","pinged":"","post_modified":"2023-05-18 00:31:29","post_modified_gmt":"2023-05-17 14:31:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11770","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11728,"post_author":"12","post_date":"2023-05-15 16:06:43","post_date_gmt":"2023-05-15 06:06:43","post_content":"\n
A recent report<\/a> from Financial Times found that Worldcoin, a cryptocurrency project launched by OpenAI CEO Sam Altman, is close to securing $100M in funding. Those already backing the project include; a16z, Digital Currency Group and Coinbase Ventures; the new round of funding includes \u201cexisting and new investors.\u201d<\/em><\/p>\n\n\n\n
The project<\/a> was founded in 2020 by Sam Altman, Alex Blania, and Max Novendstern. With over 1,697,000 sign ups already, Worldcoin aims to build \"the world\u2019s largest identity and financial network as a public utility, giving ownership to everyone, [and] to create universal access to the global economy regardless of country or background, accelerating the transition to an economic future that welcomes and benefits every person on the planet.<\/em><\/p>\n\n\n\n
In March 2022, The Information\u00a0reported<\/a>\u00a0that the firm was looking to raise $100M\u00a0from investors through a private token sale, citing two people familiar with the situation. These sources stated that \u201cit\u2019s a bear market, a crypto winter. It\u2019s remarkable for a project in this space to get this amount of investment.\u201d<\/em><\/p>\n\n\n\n
Worldcoin Verification, Adoption, And Account Abstraction<\/h2>\n\n\n\nWorldcoin launched a gas-free crypto wallet in early May of 2023 called World App. This wallet relies on a system called World ID which uses zero-knowledge proofs to verify that you're a real human with either a phone number or iris scan. The gasless transactions rely upon account abstraction<\/a>, a popular protocol on Ethereum, under ERC-4337<\/a>.<\/p>\n\n\n\n
World App is also integrated with Uniswap, so users can swap currencies in the wallet.<\/p>\n\n\n\n
Worldcoin has been in its beta for some time now; within \"the next six weeks\" the blockchain protocol is expected to launch and with that, transactions will begin being recorded.<\/p>\n","post_title":"OpenAI's Sam Altman To Secure $100M For Worldcoin; Will Start Recording Transactions In 6 Weeks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openais-sam-altman-to-secure-100m-for-worldcoin-will-start-recording-transactions-in-6-weeks","to_ping":"","pinged":"","post_modified":"2023-05-15 16:06:46","post_modified_gmt":"2023-05-15 06:06:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11728","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11677,"post_author":"15","post_date":"2023-05-13 00:36:12","post_date_gmt":"2023-05-12 14:36:12","post_content":"\n
In the last 24 hours, $46.37 million worth of $PEPE has been deposited into exchanges. The meme coin has net deposits from 1,176 addresses amounting to $22.94 million. $PEPE has seen a significant drop of 31% in value, shrinking its market value to around $500 million, as reported <\/a>by ScopeProtocol.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/ScopeProtocol\/status\/1656916635134066688?s=20\n<\/div><\/figure>\n\n\n\n
$PEPE is a meme coin that has gained significant popularity in cryptocurrency. It has captured the attention of crypto enthusiasts and investors due to its unique and humorous nature.<\/p>\n\n\n\n
Despite its playful image, $PEPE has also experienced fluctuations in its market price. This volatility is characteristic of many memecoins, as trends, speculation, and the overall sentiment of the market can influence their prices.<\/p>\n\n\n\n
More On Memecoins<\/h2>\n\n\n\n
On May 11, 2023, @lookonchain<\/a>, a prominent cryptocurrency analyst, tweeted<\/a> about $PEPE and $LADYs (another meme coin). In his tweet, he praised how a cryptocurrency trader made huge profits trading meme coins. The trader bought $PEPE on Apr 18 and $LADYS before Elon Musk tweeted. In summary, his investment gained 36x on $PEPE and 35x on $LADYS. <\/p>\n\n\n\n
The meme coin phenomenon has emerged as a culture in the cryptocurrency space. We can notably refer to prominent meme coins like Dogecoin ($DOGE) and Shiba Inu ($SHIB). At the time of writing, these two cryptocurrencies ranked number 8 and number 15, respectively, according to Coinmarketcap. $DOGE and $SHIB have paved the way for other meme coins to gain traction in the crypto market.<\/p>\n","post_title":"Massive $PEPE Deposits Shake Crypto Exchanges; Market Value Plunges","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"massive-pepe-deposits-shake-crypto-exchanges-market-value-plunges","to_ping":"","pinged":"","post_modified":"2023-05-13 00:36:16","post_modified_gmt":"2023-05-12 14:36:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11677","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11401,"post_author":"13","post_date":"2023-05-02 11:29:00","post_date_gmt":"2023-05-02 01:29:00","post_content":"\n
\n
SUI farming will open for two days on BNB and TUSD pools beginning May 1.<\/li>\n\n\n\n
The token is expected to list afterward on Binance against BTC, USDT, TUSD, and BNB.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Binance has unveiled its 33rd project on Binance Luanchpoool, Sui, that allows users to farm SUI tokens using staked BNB and TrueUSD (TUSD).<\/p>\n\n\n\n
According to the announcement<\/a> on April 30, the farming of SUI tokens would run for 2 days beginning May 1. After that, the asset would be listed on Binance under trading pairs SUI\/BTC, SUI\/USDT, SUITUSD, and SUI\/BNB, subject to the relevant liquidity requirements.<\/p>\n\n\n\n
40 million SUI tokens are set for launchpool token rewards, 0.4% of the total token supply of 10 billion. So far, more than 9 million BNB tokens have been staked on the BNB pool, while the TUSD pool has more than 450 million staked TUSD.<\/p>\n\n\n\n
DPoS Layer-1 Blockchain<\/h2>\n\n\n\n
Sui<\/a> operates as a delegated proof of stake (DPoS) layer-1 blockchain<\/a> written on the Move programming language. The project has since raised $300 million in a series B funding round backed by Binance Labs and Coinbase - bringing its valuation to $2 billion.<\/p>\n\n\n\n
The project, hyped by its community of supporters as the \u2018Ethereum Killer\u2019<\/em>, uses a unique technology involving a parallel data model and execution engine to enhance transaction scaling. Besides, the blockchain employs an object-centric model for processing parallel transactions.<\/p>\n\n\n\n
The unveiling has pumped the price of Binance\u2019s native BNB token upwards despite a bearish market momentum. At press time, the token was changing hands for $333, representing a jump of 3% in the past day.<\/p>\n","post_title":"Binance Launches SUI Farming With Staked BNB And TrueUSD","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-launches-sui-farming-with-staked-bnb-and-trueusd","to_ping":"","pinged":"","post_modified":"2023-05-04 13:03:20","post_modified_gmt":"2023-05-04 03:03:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 … 10 Next

Most Read

Altcoins

Ripple Challenges SEC’s Bid For Appeal In Legal Battle

September 3, 2023

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Artificial Intelligence

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December 19, 2024

Artificial Intelligence

Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

August 15, 2024

Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

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By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

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ADVERTISEMENT

\n
A US judge presiding over the case between Ripple and the Securities and Exchange Commission (SEC) has rejected a motion filed by the regulator to seal some of the essential documents.<\/p>\n\n\n\n
Judge Analisa Torres of the US District Court has disagreed<\/a> with SEC\u2019s move to seal Hinman\u2019s Speech documents, comprising emails, text messages, and expert reports, saying they were \u2018judicial documents\u2019 subject to a strong presumption of public access.<\/p>\n\n\n\n
As a recap, the SEC is suing<\/a> Ripple for selling unregistered securities. At the centre of the legal matter is a controversial speech by the former finance division director at the commission, William Hinman, who stated that Ether, the native cryptocurrency to the Ethereum blockchain, was not a security. The statement is believed to influence the much-awaited summary judgment considerably.<\/p>\n\n\n\n
The SEC\u2019s Position On The Matter<\/h2>\n\n\n\n
On December 22, the SEC filed a motion before Judge Torres to have all the documents containing Hinman\u2019s speech sealed from the public, saying they were irrelevant to the court\u2019s summary judgment. Further, the commission added that having the documents sealed preserved \u2018openness and candour\u2019, which the court has also rejected.<\/p>\n\n\n\n
\u2018\u2018Regardless of whether the court ultimately determines that the Hinman Speech Documents are admissible, or whether the court relies on the documents in ruling on the summary judgment motions, they are judicial documents subject to a strong presumption of public access because they are \u2018relevant to the performance of the judicial function and useful in the judicial process,'\" <\/em>read the ruling.<\/p>\n\n\n\n
XRP has added more than 5% in the past 24 hours following the development and was trading at $0.4487 at the time of writing. <\/p>\n","post_title":"Ripple Scores Major Victory In Case With The SEC As Court Denies Motion Filed By The Regulator","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-scores-major-victory-in-case-with-the-sec-as-court-denies-motion-filed-by-the-regulator","to_ping":"","pinged":"","post_modified":"2023-05-18 00:31:29","post_modified_gmt":"2023-05-17 14:31:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11770","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11728,"post_author":"12","post_date":"2023-05-15 16:06:43","post_date_gmt":"2023-05-15 06:06:43","post_content":"\n
A recent report<\/a> from Financial Times found that Worldcoin, a cryptocurrency project launched by OpenAI CEO Sam Altman, is close to securing $100M in funding. Those already backing the project include; a16z, Digital Currency Group and Coinbase Ventures; the new round of funding includes \u201cexisting and new investors.\u201d<\/em><\/p>\n\n\n\n
The project<\/a> was founded in 2020 by Sam Altman, Alex Blania, and Max Novendstern. With over 1,697,000 sign ups already, Worldcoin aims to build \"the world\u2019s largest identity and financial network as a public utility, giving ownership to everyone, [and] to create universal access to the global economy regardless of country or background, accelerating the transition to an economic future that welcomes and benefits every person on the planet.<\/em><\/p>\n\n\n\n
In March 2022, The Information\u00a0reported<\/a>\u00a0that the firm was looking to raise $100M\u00a0from investors through a private token sale, citing two people familiar with the situation. These sources stated that \u201cit\u2019s a bear market, a crypto winter. It\u2019s remarkable for a project in this space to get this amount of investment.\u201d<\/em><\/p>\n\n\n\n
Worldcoin Verification, Adoption, And Account Abstraction<\/h2>\n\n\n\nWorldcoin launched a gas-free crypto wallet in early May of 2023 called World App. This wallet relies on a system called World ID which uses zero-knowledge proofs to verify that you're a real human with either a phone number or iris scan. The gasless transactions rely upon account abstraction<\/a>, a popular protocol on Ethereum, under ERC-4337<\/a>.<\/p>\n\n\n\n
World App is also integrated with Uniswap, so users can swap currencies in the wallet.<\/p>\n\n\n\n
Worldcoin has been in its beta for some time now; within \"the next six weeks\" the blockchain protocol is expected to launch and with that, transactions will begin being recorded.<\/p>\n","post_title":"OpenAI's Sam Altman To Secure $100M For Worldcoin; Will Start Recording Transactions In 6 Weeks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openais-sam-altman-to-secure-100m-for-worldcoin-will-start-recording-transactions-in-6-weeks","to_ping":"","pinged":"","post_modified":"2023-05-15 16:06:46","post_modified_gmt":"2023-05-15 06:06:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11728","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11677,"post_author":"15","post_date":"2023-05-13 00:36:12","post_date_gmt":"2023-05-12 14:36:12","post_content":"\n
In the last 24 hours, $46.37 million worth of $PEPE has been deposited into exchanges. The meme coin has net deposits from 1,176 addresses amounting to $22.94 million. $PEPE has seen a significant drop of 31% in value, shrinking its market value to around $500 million, as reported <\/a>by ScopeProtocol.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/ScopeProtocol\/status\/1656916635134066688?s=20\n<\/div><\/figure>\n\n\n\n
$PEPE is a meme coin that has gained significant popularity in cryptocurrency. It has captured the attention of crypto enthusiasts and investors due to its unique and humorous nature.<\/p>\n\n\n\n
Despite its playful image, $PEPE has also experienced fluctuations in its market price. This volatility is characteristic of many memecoins, as trends, speculation, and the overall sentiment of the market can influence their prices.<\/p>\n\n\n\n
More On Memecoins<\/h2>\n\n\n\n
On May 11, 2023, @lookonchain<\/a>, a prominent cryptocurrency analyst, tweeted<\/a> about $PEPE and $LADYs (another meme coin). In his tweet, he praised how a cryptocurrency trader made huge profits trading meme coins. The trader bought $PEPE on Apr 18 and $LADYS before Elon Musk tweeted. In summary, his investment gained 36x on $PEPE and 35x on $LADYS. <\/p>\n\n\n\n
The meme coin phenomenon has emerged as a culture in the cryptocurrency space. We can notably refer to prominent meme coins like Dogecoin ($DOGE) and Shiba Inu ($SHIB). At the time of writing, these two cryptocurrencies ranked number 8 and number 15, respectively, according to Coinmarketcap. $DOGE and $SHIB have paved the way for other meme coins to gain traction in the crypto market.<\/p>\n","post_title":"Massive $PEPE Deposits Shake Crypto Exchanges; Market Value Plunges","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"massive-pepe-deposits-shake-crypto-exchanges-market-value-plunges","to_ping":"","pinged":"","post_modified":"2023-05-13 00:36:16","post_modified_gmt":"2023-05-12 14:36:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11677","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11401,"post_author":"13","post_date":"2023-05-02 11:29:00","post_date_gmt":"2023-05-02 01:29:00","post_content":"\n
\n
SUI farming will open for two days on BNB and TUSD pools beginning May 1.<\/li>\n\n\n\n
The token is expected to list afterward on Binance against BTC, USDT, TUSD, and BNB.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Binance has unveiled its 33rd project on Binance Luanchpoool, Sui, that allows users to farm SUI tokens using staked BNB and TrueUSD (TUSD).<\/p>\n\n\n\n
According to the announcement<\/a> on April 30, the farming of SUI tokens would run for 2 days beginning May 1. After that, the asset would be listed on Binance under trading pairs SUI\/BTC, SUI\/USDT, SUITUSD, and SUI\/BNB, subject to the relevant liquidity requirements.<\/p>\n\n\n\n
40 million SUI tokens are set for launchpool token rewards, 0.4% of the total token supply of 10 billion. So far, more than 9 million BNB tokens have been staked on the BNB pool, while the TUSD pool has more than 450 million staked TUSD.<\/p>\n\n\n\n
DPoS Layer-1 Blockchain<\/h2>\n\n\n\n
Sui<\/a> operates as a delegated proof of stake (DPoS) layer-1 blockchain<\/a> written on the Move programming language. The project has since raised $300 million in a series B funding round backed by Binance Labs and Coinbase - bringing its valuation to $2 billion.<\/p>\n\n\n\n
The project, hyped by its community of supporters as the \u2018Ethereum Killer\u2019<\/em>, uses a unique technology involving a parallel data model and execution engine to enhance transaction scaling. Besides, the blockchain employs an object-centric model for processing parallel transactions.<\/p>\n\n\n\n
The unveiling has pumped the price of Binance\u2019s native BNB token upwards despite a bearish market momentum. At press time, the token was changing hands for $333, representing a jump of 3% in the past day.<\/p>\n","post_title":"Binance Launches SUI Farming With Staked BNB And TrueUSD","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-launches-sui-farming-with-staked-bnb-and-trueusd","to_ping":"","pinged":"","post_modified":"2023-05-04 13:03:20","post_modified_gmt":"2023-05-04 03:03:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 … 10 Next

Most Read

Altcoins

Ripple Challenges SEC’s Bid For Appeal In Legal Battle

September 3, 2023

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Artificial Intelligence

Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

August 15, 2024

Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
The price of the native XRP token has surged following the ruling.<\/li>\n<\/ul>\n\n\n\n
A US judge presiding over the case between Ripple and the Securities and Exchange Commission (SEC) has rejected a motion filed by the regulator to seal some of the essential documents.<\/p>\n\n\n\n
Judge Analisa Torres of the US District Court has disagreed<\/a> with SEC\u2019s move to seal Hinman\u2019s Speech documents, comprising emails, text messages, and expert reports, saying they were \u2018judicial documents\u2019 subject to a strong presumption of public access.<\/p>\n\n\n\n
As a recap, the SEC is suing<\/a> Ripple for selling unregistered securities. At the centre of the legal matter is a controversial speech by the former finance division director at the commission, William Hinman, who stated that Ether, the native cryptocurrency to the Ethereum blockchain, was not a security. The statement is believed to influence the much-awaited summary judgment considerably.<\/p>\n\n\n\n
The SEC\u2019s Position On The Matter<\/h2>\n\n\n\n
On December 22, the SEC filed a motion before Judge Torres to have all the documents containing Hinman\u2019s speech sealed from the public, saying they were irrelevant to the court\u2019s summary judgment. Further, the commission added that having the documents sealed preserved \u2018openness and candour\u2019, which the court has also rejected.<\/p>\n\n\n\n
\u2018\u2018Regardless of whether the court ultimately determines that the Hinman Speech Documents are admissible, or whether the court relies on the documents in ruling on the summary judgment motions, they are judicial documents subject to a strong presumption of public access because they are \u2018relevant to the performance of the judicial function and useful in the judicial process,'\" <\/em>read the ruling.<\/p>\n\n\n\n
XRP has added more than 5% in the past 24 hours following the development and was trading at $0.4487 at the time of writing. <\/p>\n","post_title":"Ripple Scores Major Victory In Case With The SEC As Court Denies Motion Filed By The Regulator","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-scores-major-victory-in-case-with-the-sec-as-court-denies-motion-filed-by-the-regulator","to_ping":"","pinged":"","post_modified":"2023-05-18 00:31:29","post_modified_gmt":"2023-05-17 14:31:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11770","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11728,"post_author":"12","post_date":"2023-05-15 16:06:43","post_date_gmt":"2023-05-15 06:06:43","post_content":"\n
A recent report<\/a> from Financial Times found that Worldcoin, a cryptocurrency project launched by OpenAI CEO Sam Altman, is close to securing $100M in funding. Those already backing the project include; a16z, Digital Currency Group and Coinbase Ventures; the new round of funding includes \u201cexisting and new investors.\u201d<\/em><\/p>\n\n\n\n
The project<\/a> was founded in 2020 by Sam Altman, Alex Blania, and Max Novendstern. With over 1,697,000 sign ups already, Worldcoin aims to build \"the world\u2019s largest identity and financial network as a public utility, giving ownership to everyone, [and] to create universal access to the global economy regardless of country or background, accelerating the transition to an economic future that welcomes and benefits every person on the planet.<\/em><\/p>\n\n\n\n
In March 2022, The Information\u00a0reported<\/a>\u00a0that the firm was looking to raise $100M\u00a0from investors through a private token sale, citing two people familiar with the situation. These sources stated that \u201cit\u2019s a bear market, a crypto winter. It\u2019s remarkable for a project in this space to get this amount of investment.\u201d<\/em><\/p>\n\n\n\n
Worldcoin Verification, Adoption, And Account Abstraction<\/h2>\n\n\n\nWorldcoin launched a gas-free crypto wallet in early May of 2023 called World App. This wallet relies on a system called World ID which uses zero-knowledge proofs to verify that you're a real human with either a phone number or iris scan. The gasless transactions rely upon account abstraction<\/a>, a popular protocol on Ethereum, under ERC-4337<\/a>.<\/p>\n\n\n\n
World App is also integrated with Uniswap, so users can swap currencies in the wallet.<\/p>\n\n\n\n
Worldcoin has been in its beta for some time now; within \"the next six weeks\" the blockchain protocol is expected to launch and with that, transactions will begin being recorded.<\/p>\n","post_title":"OpenAI's Sam Altman To Secure $100M For Worldcoin; Will Start Recording Transactions In 6 Weeks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openais-sam-altman-to-secure-100m-for-worldcoin-will-start-recording-transactions-in-6-weeks","to_ping":"","pinged":"","post_modified":"2023-05-15 16:06:46","post_modified_gmt":"2023-05-15 06:06:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11728","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11677,"post_author":"15","post_date":"2023-05-13 00:36:12","post_date_gmt":"2023-05-12 14:36:12","post_content":"\n
In the last 24 hours, $46.37 million worth of $PEPE has been deposited into exchanges. The meme coin has net deposits from 1,176 addresses amounting to $22.94 million. $PEPE has seen a significant drop of 31% in value, shrinking its market value to around $500 million, as reported <\/a>by ScopeProtocol.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/ScopeProtocol\/status\/1656916635134066688?s=20\n<\/div><\/figure>\n\n\n\n
$PEPE is a meme coin that has gained significant popularity in cryptocurrency. It has captured the attention of crypto enthusiasts and investors due to its unique and humorous nature.<\/p>\n\n\n\n
Despite its playful image, $PEPE has also experienced fluctuations in its market price. This volatility is characteristic of many memecoins, as trends, speculation, and the overall sentiment of the market can influence their prices.<\/p>\n\n\n\n
More On Memecoins<\/h2>\n\n\n\n
On May 11, 2023, @lookonchain<\/a>, a prominent cryptocurrency analyst, tweeted<\/a> about $PEPE and $LADYs (another meme coin). In his tweet, he praised how a cryptocurrency trader made huge profits trading meme coins. The trader bought $PEPE on Apr 18 and $LADYS before Elon Musk tweeted. In summary, his investment gained 36x on $PEPE and 35x on $LADYS. <\/p>\n\n\n\n
The meme coin phenomenon has emerged as a culture in the cryptocurrency space. We can notably refer to prominent meme coins like Dogecoin ($DOGE) and Shiba Inu ($SHIB). At the time of writing, these two cryptocurrencies ranked number 8 and number 15, respectively, according to Coinmarketcap. $DOGE and $SHIB have paved the way for other meme coins to gain traction in the crypto market.<\/p>\n","post_title":"Massive $PEPE Deposits Shake Crypto Exchanges; Market Value Plunges","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"massive-pepe-deposits-shake-crypto-exchanges-market-value-plunges","to_ping":"","pinged":"","post_modified":"2023-05-13 00:36:16","post_modified_gmt":"2023-05-12 14:36:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11677","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11401,"post_author":"13","post_date":"2023-05-02 11:29:00","post_date_gmt":"2023-05-02 01:29:00","post_content":"\n
\n
SUI farming will open for two days on BNB and TUSD pools beginning May 1.<\/li>\n\n\n\n
The token is expected to list afterward on Binance against BTC, USDT, TUSD, and BNB.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Binance has unveiled its 33rd project on Binance Luanchpoool, Sui, that allows users to farm SUI tokens using staked BNB and TrueUSD (TUSD).<\/p>\n\n\n\n
According to the announcement<\/a> on April 30, the farming of SUI tokens would run for 2 days beginning May 1. After that, the asset would be listed on Binance under trading pairs SUI\/BTC, SUI\/USDT, SUITUSD, and SUI\/BNB, subject to the relevant liquidity requirements.<\/p>\n\n\n\n
40 million SUI tokens are set for launchpool token rewards, 0.4% of the total token supply of 10 billion. So far, more than 9 million BNB tokens have been staked on the BNB pool, while the TUSD pool has more than 450 million staked TUSD.<\/p>\n\n\n\n
DPoS Layer-1 Blockchain<\/h2>\n\n\n\n
Sui<\/a> operates as a delegated proof of stake (DPoS) layer-1 blockchain<\/a> written on the Move programming language. The project has since raised $300 million in a series B funding round backed by Binance Labs and Coinbase - bringing its valuation to $2 billion.<\/p>\n\n\n\n
The project, hyped by its community of supporters as the \u2018Ethereum Killer\u2019<\/em>, uses a unique technology involving a parallel data model and execution engine to enhance transaction scaling. Besides, the blockchain employs an object-centric model for processing parallel transactions.<\/p>\n\n\n\n
The unveiling has pumped the price of Binance\u2019s native BNB token upwards despite a bearish market momentum. At press time, the token was changing hands for $333, representing a jump of 3% in the past day.<\/p>\n","post_title":"Binance Launches SUI Farming With Staked BNB And TrueUSD","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-launches-sui-farming-with-staked-bnb-and-trueusd","to_ping":"","pinged":"","post_modified":"2023-05-04 13:03:20","post_modified_gmt":"2023-05-04 03:03:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 … 10 Next

Most Read

Altcoins

Ripple Challenges SEC’s Bid For Appeal In Legal Battle

September 3, 2023

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Artificial Intelligence

Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

August 15, 2024

Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

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ADVERTISEMENT

\n
Judge Analisa Torres has declined a motion by the commission to seal essential documents in the legal tussle.  <\/li>\n\n\n\n
The price of the native XRP token has surged following the ruling.<\/li>\n<\/ul>\n\n\n\n
A US judge presiding over the case between Ripple and the Securities and Exchange Commission (SEC) has rejected a motion filed by the regulator to seal some of the essential documents.<\/p>\n\n\n\n
Judge Analisa Torres of the US District Court has disagreed<\/a> with SEC\u2019s move to seal Hinman\u2019s Speech documents, comprising emails, text messages, and expert reports, saying they were \u2018judicial documents\u2019 subject to a strong presumption of public access.<\/p>\n\n\n\n
As a recap, the SEC is suing<\/a> Ripple for selling unregistered securities. At the centre of the legal matter is a controversial speech by the former finance division director at the commission, William Hinman, who stated that Ether, the native cryptocurrency to the Ethereum blockchain, was not a security. The statement is believed to influence the much-awaited summary judgment considerably.<\/p>\n\n\n\n
The SEC\u2019s Position On The Matter<\/h2>\n\n\n\n
On December 22, the SEC filed a motion before Judge Torres to have all the documents containing Hinman\u2019s speech sealed from the public, saying they were irrelevant to the court\u2019s summary judgment. Further, the commission added that having the documents sealed preserved \u2018openness and candour\u2019, which the court has also rejected.<\/p>\n\n\n\n
\u2018\u2018Regardless of whether the court ultimately determines that the Hinman Speech Documents are admissible, or whether the court relies on the documents in ruling on the summary judgment motions, they are judicial documents subject to a strong presumption of public access because they are \u2018relevant to the performance of the judicial function and useful in the judicial process,'\" <\/em>read the ruling.<\/p>\n\n\n\n
XRP has added more than 5% in the past 24 hours following the development and was trading at $0.4487 at the time of writing. <\/p>\n","post_title":"Ripple Scores Major Victory In Case With The SEC As Court Denies Motion Filed By The Regulator","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-scores-major-victory-in-case-with-the-sec-as-court-denies-motion-filed-by-the-regulator","to_ping":"","pinged":"","post_modified":"2023-05-18 00:31:29","post_modified_gmt":"2023-05-17 14:31:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11770","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11728,"post_author":"12","post_date":"2023-05-15 16:06:43","post_date_gmt":"2023-05-15 06:06:43","post_content":"\n
A recent report<\/a> from Financial Times found that Worldcoin, a cryptocurrency project launched by OpenAI CEO Sam Altman, is close to securing $100M in funding. Those already backing the project include; a16z, Digital Currency Group and Coinbase Ventures; the new round of funding includes \u201cexisting and new investors.\u201d<\/em><\/p>\n\n\n\n
The project<\/a> was founded in 2020 by Sam Altman, Alex Blania, and Max Novendstern. With over 1,697,000 sign ups already, Worldcoin aims to build \"the world\u2019s largest identity and financial network as a public utility, giving ownership to everyone, [and] to create universal access to the global economy regardless of country or background, accelerating the transition to an economic future that welcomes and benefits every person on the planet.<\/em><\/p>\n\n\n\n
In March 2022, The Information\u00a0reported<\/a>\u00a0that the firm was looking to raise $100M\u00a0from investors through a private token sale, citing two people familiar with the situation. These sources stated that \u201cit\u2019s a bear market, a crypto winter. It\u2019s remarkable for a project in this space to get this amount of investment.\u201d<\/em><\/p>\n\n\n\n
Worldcoin Verification, Adoption, And Account Abstraction<\/h2>\n\n\n\nWorldcoin launched a gas-free crypto wallet in early May of 2023 called World App. This wallet relies on a system called World ID which uses zero-knowledge proofs to verify that you're a real human with either a phone number or iris scan. The gasless transactions rely upon account abstraction<\/a>, a popular protocol on Ethereum, under ERC-4337<\/a>.<\/p>\n\n\n\n
World App is also integrated with Uniswap, so users can swap currencies in the wallet.<\/p>\n\n\n\n
Worldcoin has been in its beta for some time now; within \"the next six weeks\" the blockchain protocol is expected to launch and with that, transactions will begin being recorded.<\/p>\n","post_title":"OpenAI's Sam Altman To Secure $100M For Worldcoin; Will Start Recording Transactions In 6 Weeks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openais-sam-altman-to-secure-100m-for-worldcoin-will-start-recording-transactions-in-6-weeks","to_ping":"","pinged":"","post_modified":"2023-05-15 16:06:46","post_modified_gmt":"2023-05-15 06:06:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11728","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11677,"post_author":"15","post_date":"2023-05-13 00:36:12","post_date_gmt":"2023-05-12 14:36:12","post_content":"\n
In the last 24 hours, $46.37 million worth of $PEPE has been deposited into exchanges. The meme coin has net deposits from 1,176 addresses amounting to $22.94 million. $PEPE has seen a significant drop of 31% in value, shrinking its market value to around $500 million, as reported <\/a>by ScopeProtocol.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/ScopeProtocol\/status\/1656916635134066688?s=20\n<\/div><\/figure>\n\n\n\n
$PEPE is a meme coin that has gained significant popularity in cryptocurrency. It has captured the attention of crypto enthusiasts and investors due to its unique and humorous nature.<\/p>\n\n\n\n
Despite its playful image, $PEPE has also experienced fluctuations in its market price. This volatility is characteristic of many memecoins, as trends, speculation, and the overall sentiment of the market can influence their prices.<\/p>\n\n\n\n
More On Memecoins<\/h2>\n\n\n\n
On May 11, 2023, @lookonchain<\/a>, a prominent cryptocurrency analyst, tweeted<\/a> about $PEPE and $LADYs (another meme coin). In his tweet, he praised how a cryptocurrency trader made huge profits trading meme coins. The trader bought $PEPE on Apr 18 and $LADYS before Elon Musk tweeted. In summary, his investment gained 36x on $PEPE and 35x on $LADYS. <\/p>\n\n\n\n
The meme coin phenomenon has emerged as a culture in the cryptocurrency space. We can notably refer to prominent meme coins like Dogecoin ($DOGE) and Shiba Inu ($SHIB). At the time of writing, these two cryptocurrencies ranked number 8 and number 15, respectively, according to Coinmarketcap. $DOGE and $SHIB have paved the way for other meme coins to gain traction in the crypto market.<\/p>\n","post_title":"Massive $PEPE Deposits Shake Crypto Exchanges; Market Value Plunges","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"massive-pepe-deposits-shake-crypto-exchanges-market-value-plunges","to_ping":"","pinged":"","post_modified":"2023-05-13 00:36:16","post_modified_gmt":"2023-05-12 14:36:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11677","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11401,"post_author":"13","post_date":"2023-05-02 11:29:00","post_date_gmt":"2023-05-02 01:29:00","post_content":"\n
\n
SUI farming will open for two days on BNB and TUSD pools beginning May 1.<\/li>\n\n\n\n
The token is expected to list afterward on Binance against BTC, USDT, TUSD, and BNB.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Binance has unveiled its 33rd project on Binance Luanchpoool, Sui, that allows users to farm SUI tokens using staked BNB and TrueUSD (TUSD).<\/p>\n\n\n\n
According to the announcement<\/a> on April 30, the farming of SUI tokens would run for 2 days beginning May 1. After that, the asset would be listed on Binance under trading pairs SUI\/BTC, SUI\/USDT, SUITUSD, and SUI\/BNB, subject to the relevant liquidity requirements.<\/p>\n\n\n\n
40 million SUI tokens are set for launchpool token rewards, 0.4% of the total token supply of 10 billion. So far, more than 9 million BNB tokens have been staked on the BNB pool, while the TUSD pool has more than 450 million staked TUSD.<\/p>\n\n\n\n
DPoS Layer-1 Blockchain<\/h2>\n\n\n\n
Sui<\/a> operates as a delegated proof of stake (DPoS) layer-1 blockchain<\/a> written on the Move programming language. The project has since raised $300 million in a series B funding round backed by Binance Labs and Coinbase - bringing its valuation to $2 billion.<\/p>\n\n\n\n
The project, hyped by its community of supporters as the \u2018Ethereum Killer\u2019<\/em>, uses a unique technology involving a parallel data model and execution engine to enhance transaction scaling. Besides, the blockchain employs an object-centric model for processing parallel transactions.<\/p>\n\n\n\n
The unveiling has pumped the price of Binance\u2019s native BNB token upwards despite a bearish market momentum. At press time, the token was changing hands for $333, representing a jump of 3% in the past day.<\/p>\n","post_title":"Binance Launches SUI Farming With Staked BNB And TrueUSD","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-launches-sui-farming-with-staked-bnb-and-trueusd","to_ping":"","pinged":"","post_modified":"2023-05-04 13:03:20","post_modified_gmt":"2023-05-04 03:03:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 … 10 Next

Most Read

Altcoins

Ripple Challenges SEC’s Bid For Appeal In Legal Battle

September 3, 2023

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Artificial Intelligence

Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

August 15, 2024

Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
\n
Judge Analisa Torres has declined a motion by the commission to seal essential documents in the legal tussle.  <\/li>\n\n\n\n
The price of the native XRP token has surged following the ruling.<\/li>\n<\/ul>\n\n\n\n
A US judge presiding over the case between Ripple and the Securities and Exchange Commission (SEC) has rejected a motion filed by the regulator to seal some of the essential documents.<\/p>\n\n\n\n
Judge Analisa Torres of the US District Court has disagreed<\/a> with SEC\u2019s move to seal Hinman\u2019s Speech documents, comprising emails, text messages, and expert reports, saying they were \u2018judicial documents\u2019 subject to a strong presumption of public access.<\/p>\n\n\n\n
As a recap, the SEC is suing<\/a> Ripple for selling unregistered securities. At the centre of the legal matter is a controversial speech by the former finance division director at the commission, William Hinman, who stated that Ether, the native cryptocurrency to the Ethereum blockchain, was not a security. The statement is believed to influence the much-awaited summary judgment considerably.<\/p>\n\n\n\n
The SEC\u2019s Position On The Matter<\/h2>\n\n\n\n
On December 22, the SEC filed a motion before Judge Torres to have all the documents containing Hinman\u2019s speech sealed from the public, saying they were irrelevant to the court\u2019s summary judgment. Further, the commission added that having the documents sealed preserved \u2018openness and candour\u2019, which the court has also rejected.<\/p>\n\n\n\n
\u2018\u2018Regardless of whether the court ultimately determines that the Hinman Speech Documents are admissible, or whether the court relies on the documents in ruling on the summary judgment motions, they are judicial documents subject to a strong presumption of public access because they are \u2018relevant to the performance of the judicial function and useful in the judicial process,'\" <\/em>read the ruling.<\/p>\n\n\n\n
XRP has added more than 5% in the past 24 hours following the development and was trading at $0.4487 at the time of writing. <\/p>\n","post_title":"Ripple Scores Major Victory In Case With The SEC As Court Denies Motion Filed By The Regulator","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-scores-major-victory-in-case-with-the-sec-as-court-denies-motion-filed-by-the-regulator","to_ping":"","pinged":"","post_modified":"2023-05-18 00:31:29","post_modified_gmt":"2023-05-17 14:31:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11770","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11728,"post_author":"12","post_date":"2023-05-15 16:06:43","post_date_gmt":"2023-05-15 06:06:43","post_content":"\n
A recent report<\/a> from Financial Times found that Worldcoin, a cryptocurrency project launched by OpenAI CEO Sam Altman, is close to securing $100M in funding. Those already backing the project include; a16z, Digital Currency Group and Coinbase Ventures; the new round of funding includes \u201cexisting and new investors.\u201d<\/em><\/p>\n\n\n\n
The project<\/a> was founded in 2020 by Sam Altman, Alex Blania, and Max Novendstern. With over 1,697,000 sign ups already, Worldcoin aims to build \"the world\u2019s largest identity and financial network as a public utility, giving ownership to everyone, [and] to create universal access to the global economy regardless of country or background, accelerating the transition to an economic future that welcomes and benefits every person on the planet.<\/em><\/p>\n\n\n\n
In March 2022, The Information\u00a0reported<\/a>\u00a0that the firm was looking to raise $100M\u00a0from investors through a private token sale, citing two people familiar with the situation. These sources stated that \u201cit\u2019s a bear market, a crypto winter. It\u2019s remarkable for a project in this space to get this amount of investment.\u201d<\/em><\/p>\n\n\n\n
Worldcoin Verification, Adoption, And Account Abstraction<\/h2>\n\n\n\nWorldcoin launched a gas-free crypto wallet in early May of 2023 called World App. This wallet relies on a system called World ID which uses zero-knowledge proofs to verify that you're a real human with either a phone number or iris scan. The gasless transactions rely upon account abstraction<\/a>, a popular protocol on Ethereum, under ERC-4337<\/a>.<\/p>\n\n\n\n
World App is also integrated with Uniswap, so users can swap currencies in the wallet.<\/p>\n\n\n\n
Worldcoin has been in its beta for some time now; within \"the next six weeks\" the blockchain protocol is expected to launch and with that, transactions will begin being recorded.<\/p>\n","post_title":"OpenAI's Sam Altman To Secure $100M For Worldcoin; Will Start Recording Transactions In 6 Weeks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openais-sam-altman-to-secure-100m-for-worldcoin-will-start-recording-transactions-in-6-weeks","to_ping":"","pinged":"","post_modified":"2023-05-15 16:06:46","post_modified_gmt":"2023-05-15 06:06:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11728","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11677,"post_author":"15","post_date":"2023-05-13 00:36:12","post_date_gmt":"2023-05-12 14:36:12","post_content":"\n
In the last 24 hours, $46.37 million worth of $PEPE has been deposited into exchanges. The meme coin has net deposits from 1,176 addresses amounting to $22.94 million. $PEPE has seen a significant drop of 31% in value, shrinking its market value to around $500 million, as reported <\/a>by ScopeProtocol.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/ScopeProtocol\/status\/1656916635134066688?s=20\n<\/div><\/figure>\n\n\n\n
$PEPE is a meme coin that has gained significant popularity in cryptocurrency. It has captured the attention of crypto enthusiasts and investors due to its unique and humorous nature.<\/p>\n\n\n\n
Despite its playful image, $PEPE has also experienced fluctuations in its market price. This volatility is characteristic of many memecoins, as trends, speculation, and the overall sentiment of the market can influence their prices.<\/p>\n\n\n\n
More On Memecoins<\/h2>\n\n\n\n
On May 11, 2023, @lookonchain<\/a>, a prominent cryptocurrency analyst, tweeted<\/a> about $PEPE and $LADYs (another meme coin). In his tweet, he praised how a cryptocurrency trader made huge profits trading meme coins. The trader bought $PEPE on Apr 18 and $LADYS before Elon Musk tweeted. In summary, his investment gained 36x on $PEPE and 35x on $LADYS. <\/p>\n\n\n\n
The meme coin phenomenon has emerged as a culture in the cryptocurrency space. We can notably refer to prominent meme coins like Dogecoin ($DOGE) and Shiba Inu ($SHIB). At the time of writing, these two cryptocurrencies ranked number 8 and number 15, respectively, according to Coinmarketcap. $DOGE and $SHIB have paved the way for other meme coins to gain traction in the crypto market.<\/p>\n","post_title":"Massive $PEPE Deposits Shake Crypto Exchanges; Market Value Plunges","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"massive-pepe-deposits-shake-crypto-exchanges-market-value-plunges","to_ping":"","pinged":"","post_modified":"2023-05-13 00:36:16","post_modified_gmt":"2023-05-12 14:36:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11677","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11401,"post_author":"13","post_date":"2023-05-02 11:29:00","post_date_gmt":"2023-05-02 01:29:00","post_content":"\n
\n
SUI farming will open for two days on BNB and TUSD pools beginning May 1.<\/li>\n\n\n\n
The token is expected to list afterward on Binance against BTC, USDT, TUSD, and BNB.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Binance has unveiled its 33rd project on Binance Luanchpoool, Sui, that allows users to farm SUI tokens using staked BNB and TrueUSD (TUSD).<\/p>\n\n\n\n
According to the announcement<\/a> on April 30, the farming of SUI tokens would run for 2 days beginning May 1. After that, the asset would be listed on Binance under trading pairs SUI\/BTC, SUI\/USDT, SUITUSD, and SUI\/BNB, subject to the relevant liquidity requirements.<\/p>\n\n\n\n
40 million SUI tokens are set for launchpool token rewards, 0.4% of the total token supply of 10 billion. So far, more than 9 million BNB tokens have been staked on the BNB pool, while the TUSD pool has more than 450 million staked TUSD.<\/p>\n\n\n\n
DPoS Layer-1 Blockchain<\/h2>\n\n\n\n
Sui<\/a> operates as a delegated proof of stake (DPoS) layer-1 blockchain<\/a> written on the Move programming language. The project has since raised $300 million in a series B funding round backed by Binance Labs and Coinbase - bringing its valuation to $2 billion.<\/p>\n\n\n\n
The project, hyped by its community of supporters as the \u2018Ethereum Killer\u2019<\/em>, uses a unique technology involving a parallel data model and execution engine to enhance transaction scaling. Besides, the blockchain employs an object-centric model for processing parallel transactions.<\/p>\n\n\n\n
The unveiling has pumped the price of Binance\u2019s native BNB token upwards despite a bearish market momentum. At press time, the token was changing hands for $333, representing a jump of 3% in the past day.<\/p>\n","post_title":"Binance Launches SUI Farming With Staked BNB And TrueUSD","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-launches-sui-farming-with-staked-bnb-and-trueusd","to_ping":"","pinged":"","post_modified":"2023-05-04 13:03:20","post_modified_gmt":"2023-05-04 03:03:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 … 10 Next

Most Read

Altcoins

Ripple Challenges SEC’s Bid For Appeal In Legal Battle

September 3, 2023

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Artificial Intelligence

Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

August 15, 2024

Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
The recent event highlights the reliance of Arbitrum on a centralized control point. Offchain Labs, the company behind Arbitrum, has expressed its plans to decentralize the network's sequencer. <\/p>\n","post_title":"Arbitrum Faces Temporary Shutdown Due To Gas Shortage","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"arbitrum-faces-temporary-shutdown-due-to-gas-shortage","to_ping":"","pinged":"","post_modified":"2023-06-08 22:45:55","post_modified_gmt":"2023-06-08 12:45:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11929","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11770,"post_author":"13","post_date":"2023-05-18 00:31:26","post_date_gmt":"2023-05-17 14:31:26","post_content":"\n
\n
Judge Analisa Torres has declined a motion by the commission to seal essential documents in the legal tussle.  <\/li>\n\n\n\n
The price of the native XRP token has surged following the ruling.<\/li>\n<\/ul>\n\n\n\n
A US judge presiding over the case between Ripple and the Securities and Exchange Commission (SEC) has rejected a motion filed by the regulator to seal some of the essential documents.<\/p>\n\n\n\n
Judge Analisa Torres of the US District Court has disagreed<\/a> with SEC\u2019s move to seal Hinman\u2019s Speech documents, comprising emails, text messages, and expert reports, saying they were \u2018judicial documents\u2019 subject to a strong presumption of public access.<\/p>\n\n\n\n
As a recap, the SEC is suing<\/a> Ripple for selling unregistered securities. At the centre of the legal matter is a controversial speech by the former finance division director at the commission, William Hinman, who stated that Ether, the native cryptocurrency to the Ethereum blockchain, was not a security. The statement is believed to influence the much-awaited summary judgment considerably.<\/p>\n\n\n\n
The SEC\u2019s Position On The Matter<\/h2>\n\n\n\n
On December 22, the SEC filed a motion before Judge Torres to have all the documents containing Hinman\u2019s speech sealed from the public, saying they were irrelevant to the court\u2019s summary judgment. Further, the commission added that having the documents sealed preserved \u2018openness and candour\u2019, which the court has also rejected.<\/p>\n\n\n\n
\u2018\u2018Regardless of whether the court ultimately determines that the Hinman Speech Documents are admissible, or whether the court relies on the documents in ruling on the summary judgment motions, they are judicial documents subject to a strong presumption of public access because they are \u2018relevant to the performance of the judicial function and useful in the judicial process,'\" <\/em>read the ruling.<\/p>\n\n\n\n
XRP has added more than 5% in the past 24 hours following the development and was trading at $0.4487 at the time of writing. <\/p>\n","post_title":"Ripple Scores Major Victory In Case With The SEC As Court Denies Motion Filed By The Regulator","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-scores-major-victory-in-case-with-the-sec-as-court-denies-motion-filed-by-the-regulator","to_ping":"","pinged":"","post_modified":"2023-05-18 00:31:29","post_modified_gmt":"2023-05-17 14:31:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11770","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11728,"post_author":"12","post_date":"2023-05-15 16:06:43","post_date_gmt":"2023-05-15 06:06:43","post_content":"\n
A recent report<\/a> from Financial Times found that Worldcoin, a cryptocurrency project launched by OpenAI CEO Sam Altman, is close to securing $100M in funding. Those already backing the project include; a16z, Digital Currency Group and Coinbase Ventures; the new round of funding includes \u201cexisting and new investors.\u201d<\/em><\/p>\n\n\n\n
The project<\/a> was founded in 2020 by Sam Altman, Alex Blania, and Max Novendstern. With over 1,697,000 sign ups already, Worldcoin aims to build \"the world\u2019s largest identity and financial network as a public utility, giving ownership to everyone, [and] to create universal access to the global economy regardless of country or background, accelerating the transition to an economic future that welcomes and benefits every person on the planet.<\/em><\/p>\n\n\n\n
In March 2022, The Information\u00a0reported<\/a>\u00a0that the firm was looking to raise $100M\u00a0from investors through a private token sale, citing two people familiar with the situation. These sources stated that \u201cit\u2019s a bear market, a crypto winter. It\u2019s remarkable for a project in this space to get this amount of investment.\u201d<\/em><\/p>\n\n\n\n
Worldcoin Verification, Adoption, And Account Abstraction<\/h2>\n\n\n\nWorldcoin launched a gas-free crypto wallet in early May of 2023 called World App. This wallet relies on a system called World ID which uses zero-knowledge proofs to verify that you're a real human with either a phone number or iris scan. The gasless transactions rely upon account abstraction<\/a>, a popular protocol on Ethereum, under ERC-4337<\/a>.<\/p>\n\n\n\n
World App is also integrated with Uniswap, so users can swap currencies in the wallet.<\/p>\n\n\n\n
Worldcoin has been in its beta for some time now; within \"the next six weeks\" the blockchain protocol is expected to launch and with that, transactions will begin being recorded.<\/p>\n","post_title":"OpenAI's Sam Altman To Secure $100M For Worldcoin; Will Start Recording Transactions In 6 Weeks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openais-sam-altman-to-secure-100m-for-worldcoin-will-start-recording-transactions-in-6-weeks","to_ping":"","pinged":"","post_modified":"2023-05-15 16:06:46","post_modified_gmt":"2023-05-15 06:06:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11728","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11677,"post_author":"15","post_date":"2023-05-13 00:36:12","post_date_gmt":"2023-05-12 14:36:12","post_content":"\n
In the last 24 hours, $46.37 million worth of $PEPE has been deposited into exchanges. The meme coin has net deposits from 1,176 addresses amounting to $22.94 million. $PEPE has seen a significant drop of 31% in value, shrinking its market value to around $500 million, as reported <\/a>by ScopeProtocol.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/ScopeProtocol\/status\/1656916635134066688?s=20\n<\/div><\/figure>\n\n\n\n
$PEPE is a meme coin that has gained significant popularity in cryptocurrency. It has captured the attention of crypto enthusiasts and investors due to its unique and humorous nature.<\/p>\n\n\n\n
Despite its playful image, $PEPE has also experienced fluctuations in its market price. This volatility is characteristic of many memecoins, as trends, speculation, and the overall sentiment of the market can influence their prices.<\/p>\n\n\n\n
More On Memecoins<\/h2>\n\n\n\n
On May 11, 2023, @lookonchain<\/a>, a prominent cryptocurrency analyst, tweeted<\/a> about $PEPE and $LADYs (another meme coin). In his tweet, he praised how a cryptocurrency trader made huge profits trading meme coins. The trader bought $PEPE on Apr 18 and $LADYS before Elon Musk tweeted. In summary, his investment gained 36x on $PEPE and 35x on $LADYS. <\/p>\n\n\n\n
The meme coin phenomenon has emerged as a culture in the cryptocurrency space. We can notably refer to prominent meme coins like Dogecoin ($DOGE) and Shiba Inu ($SHIB). At the time of writing, these two cryptocurrencies ranked number 8 and number 15, respectively, according to Coinmarketcap. $DOGE and $SHIB have paved the way for other meme coins to gain traction in the crypto market.<\/p>\n","post_title":"Massive $PEPE Deposits Shake Crypto Exchanges; Market Value Plunges","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"massive-pepe-deposits-shake-crypto-exchanges-market-value-plunges","to_ping":"","pinged":"","post_modified":"2023-05-13 00:36:16","post_modified_gmt":"2023-05-12 14:36:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11677","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11401,"post_author":"13","post_date":"2023-05-02 11:29:00","post_date_gmt":"2023-05-02 01:29:00","post_content":"\n
\n
SUI farming will open for two days on BNB and TUSD pools beginning May 1.<\/li>\n\n\n\n
The token is expected to list afterward on Binance against BTC, USDT, TUSD, and BNB.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Binance has unveiled its 33rd project on Binance Luanchpoool, Sui, that allows users to farm SUI tokens using staked BNB and TrueUSD (TUSD).<\/p>\n\n\n\n
According to the announcement<\/a> on April 30, the farming of SUI tokens would run for 2 days beginning May 1. After that, the asset would be listed on Binance under trading pairs SUI\/BTC, SUI\/USDT, SUITUSD, and SUI\/BNB, subject to the relevant liquidity requirements.<\/p>\n\n\n\n
40 million SUI tokens are set for launchpool token rewards, 0.4% of the total token supply of 10 billion. So far, more than 9 million BNB tokens have been staked on the BNB pool, while the TUSD pool has more than 450 million staked TUSD.<\/p>\n\n\n\n
DPoS Layer-1 Blockchain<\/h2>\n\n\n\n
Sui<\/a> operates as a delegated proof of stake (DPoS) layer-1 blockchain<\/a> written on the Move programming language. The project has since raised $300 million in a series B funding round backed by Binance Labs and Coinbase - bringing its valuation to $2 billion.<\/p>\n\n\n\n
The project, hyped by its community of supporters as the \u2018Ethereum Killer\u2019<\/em>, uses a unique technology involving a parallel data model and execution engine to enhance transaction scaling. Besides, the blockchain employs an object-centric model for processing parallel transactions.<\/p>\n\n\n\n
The unveiling has pumped the price of Binance\u2019s native BNB token upwards despite a bearish market momentum. At press time, the token was changing hands for $333, representing a jump of 3% in the past day.<\/p>\n","post_title":"Binance Launches SUI Farming With Staked BNB And TrueUSD","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-launches-sui-farming-with-staked-bnb-and-trueusd","to_ping":"","pinged":"","post_modified":"2023-05-04 13:03:20","post_modified_gmt":"2023-05-04 03:03:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 … 10 Next

Most Read

Altcoins

Ripple Challenges SEC’s Bid For Appeal In Legal Battle

September 3, 2023

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Artificial Intelligence

Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

August 15, 2024

Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

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By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

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ADVERTISEMENT

\n
The cause behind the depletion of gas in Arbitrum's sequencer remains uncertain. Since its launch in May 2021, the sequencer has only been manually refuelled with Ether on four occasions.<\/p>\n\n\n\n
The recent event highlights the reliance of Arbitrum on a centralized control point. Offchain Labs, the company behind Arbitrum, has expressed its plans to decentralize the network's sequencer. <\/p>\n","post_title":"Arbitrum Faces Temporary Shutdown Due To Gas Shortage","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"arbitrum-faces-temporary-shutdown-due-to-gas-shortage","to_ping":"","pinged":"","post_modified":"2023-06-08 22:45:55","post_modified_gmt":"2023-06-08 12:45:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11929","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11770,"post_author":"13","post_date":"2023-05-18 00:31:26","post_date_gmt":"2023-05-17 14:31:26","post_content":"\n
\n
Judge Analisa Torres has declined a motion by the commission to seal essential documents in the legal tussle.  <\/li>\n\n\n\n
The price of the native XRP token has surged following the ruling.<\/li>\n<\/ul>\n\n\n\n
A US judge presiding over the case between Ripple and the Securities and Exchange Commission (SEC) has rejected a motion filed by the regulator to seal some of the essential documents.<\/p>\n\n\n\n
Judge Analisa Torres of the US District Court has disagreed<\/a> with SEC\u2019s move to seal Hinman\u2019s Speech documents, comprising emails, text messages, and expert reports, saying they were \u2018judicial documents\u2019 subject to a strong presumption of public access.<\/p>\n\n\n\n
As a recap, the SEC is suing<\/a> Ripple for selling unregistered securities. At the centre of the legal matter is a controversial speech by the former finance division director at the commission, William Hinman, who stated that Ether, the native cryptocurrency to the Ethereum blockchain, was not a security. The statement is believed to influence the much-awaited summary judgment considerably.<\/p>\n\n\n\n
The SEC\u2019s Position On The Matter<\/h2>\n\n\n\n
On December 22, the SEC filed a motion before Judge Torres to have all the documents containing Hinman\u2019s speech sealed from the public, saying they were irrelevant to the court\u2019s summary judgment. Further, the commission added that having the documents sealed preserved \u2018openness and candour\u2019, which the court has also rejected.<\/p>\n\n\n\n
\u2018\u2018Regardless of whether the court ultimately determines that the Hinman Speech Documents are admissible, or whether the court relies on the documents in ruling on the summary judgment motions, they are judicial documents subject to a strong presumption of public access because they are \u2018relevant to the performance of the judicial function and useful in the judicial process,'\" <\/em>read the ruling.<\/p>\n\n\n\n
XRP has added more than 5% in the past 24 hours following the development and was trading at $0.4487 at the time of writing. <\/p>\n","post_title":"Ripple Scores Major Victory In Case With The SEC As Court Denies Motion Filed By The Regulator","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-scores-major-victory-in-case-with-the-sec-as-court-denies-motion-filed-by-the-regulator","to_ping":"","pinged":"","post_modified":"2023-05-18 00:31:29","post_modified_gmt":"2023-05-17 14:31:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11770","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11728,"post_author":"12","post_date":"2023-05-15 16:06:43","post_date_gmt":"2023-05-15 06:06:43","post_content":"\n
A recent report<\/a> from Financial Times found that Worldcoin, a cryptocurrency project launched by OpenAI CEO Sam Altman, is close to securing $100M in funding. Those already backing the project include; a16z, Digital Currency Group and Coinbase Ventures; the new round of funding includes \u201cexisting and new investors.\u201d<\/em><\/p>\n\n\n\n
The project<\/a> was founded in 2020 by Sam Altman, Alex Blania, and Max Novendstern. With over 1,697,000 sign ups already, Worldcoin aims to build \"the world\u2019s largest identity and financial network as a public utility, giving ownership to everyone, [and] to create universal access to the global economy regardless of country or background, accelerating the transition to an economic future that welcomes and benefits every person on the planet.<\/em><\/p>\n\n\n\n
In March 2022, The Information\u00a0reported<\/a>\u00a0that the firm was looking to raise $100M\u00a0from investors through a private token sale, citing two people familiar with the situation. These sources stated that \u201cit\u2019s a bear market, a crypto winter. It\u2019s remarkable for a project in this space to get this amount of investment.\u201d<\/em><\/p>\n\n\n\n
Worldcoin Verification, Adoption, And Account Abstraction<\/h2>\n\n\n\nWorldcoin launched a gas-free crypto wallet in early May of 2023 called World App. This wallet relies on a system called World ID which uses zero-knowledge proofs to verify that you're a real human with either a phone number or iris scan. The gasless transactions rely upon account abstraction<\/a>, a popular protocol on Ethereum, under ERC-4337<\/a>.<\/p>\n\n\n\n
World App is also integrated with Uniswap, so users can swap currencies in the wallet.<\/p>\n\n\n\n
Worldcoin has been in its beta for some time now; within \"the next six weeks\" the blockchain protocol is expected to launch and with that, transactions will begin being recorded.<\/p>\n","post_title":"OpenAI's Sam Altman To Secure $100M For Worldcoin; Will Start Recording Transactions In 6 Weeks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openais-sam-altman-to-secure-100m-for-worldcoin-will-start-recording-transactions-in-6-weeks","to_ping":"","pinged":"","post_modified":"2023-05-15 16:06:46","post_modified_gmt":"2023-05-15 06:06:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11728","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11677,"post_author":"15","post_date":"2023-05-13 00:36:12","post_date_gmt":"2023-05-12 14:36:12","post_content":"\n
In the last 24 hours, $46.37 million worth of $PEPE has been deposited into exchanges. The meme coin has net deposits from 1,176 addresses amounting to $22.94 million. $PEPE has seen a significant drop of 31% in value, shrinking its market value to around $500 million, as reported <\/a>by ScopeProtocol.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/ScopeProtocol\/status\/1656916635134066688?s=20\n<\/div><\/figure>\n\n\n\n
$PEPE is a meme coin that has gained significant popularity in cryptocurrency. It has captured the attention of crypto enthusiasts and investors due to its unique and humorous nature.<\/p>\n\n\n\n
Despite its playful image, $PEPE has also experienced fluctuations in its market price. This volatility is characteristic of many memecoins, as trends, speculation, and the overall sentiment of the market can influence their prices.<\/p>\n\n\n\n
More On Memecoins<\/h2>\n\n\n\n
On May 11, 2023, @lookonchain<\/a>, a prominent cryptocurrency analyst, tweeted<\/a> about $PEPE and $LADYs (another meme coin). In his tweet, he praised how a cryptocurrency trader made huge profits trading meme coins. The trader bought $PEPE on Apr 18 and $LADYS before Elon Musk tweeted. In summary, his investment gained 36x on $PEPE and 35x on $LADYS. <\/p>\n\n\n\n
The meme coin phenomenon has emerged as a culture in the cryptocurrency space. We can notably refer to prominent meme coins like Dogecoin ($DOGE) and Shiba Inu ($SHIB). At the time of writing, these two cryptocurrencies ranked number 8 and number 15, respectively, according to Coinmarketcap. $DOGE and $SHIB have paved the way for other meme coins to gain traction in the crypto market.<\/p>\n","post_title":"Massive $PEPE Deposits Shake Crypto Exchanges; Market Value Plunges","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"massive-pepe-deposits-shake-crypto-exchanges-market-value-plunges","to_ping":"","pinged":"","post_modified":"2023-05-13 00:36:16","post_modified_gmt":"2023-05-12 14:36:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11677","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11401,"post_author":"13","post_date":"2023-05-02 11:29:00","post_date_gmt":"2023-05-02 01:29:00","post_content":"\n
\n
SUI farming will open for two days on BNB and TUSD pools beginning May 1.<\/li>\n\n\n\n
The token is expected to list afterward on Binance against BTC, USDT, TUSD, and BNB.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Binance has unveiled its 33rd project on Binance Luanchpoool, Sui, that allows users to farm SUI tokens using staked BNB and TrueUSD (TUSD).<\/p>\n\n\n\n
According to the announcement<\/a> on April 30, the farming of SUI tokens would run for 2 days beginning May 1. After that, the asset would be listed on Binance under trading pairs SUI\/BTC, SUI\/USDT, SUITUSD, and SUI\/BNB, subject to the relevant liquidity requirements.<\/p>\n\n\n\n
40 million SUI tokens are set for launchpool token rewards, 0.4% of the total token supply of 10 billion. So far, more than 9 million BNB tokens have been staked on the BNB pool, while the TUSD pool has more than 450 million staked TUSD.<\/p>\n\n\n\n
DPoS Layer-1 Blockchain<\/h2>\n\n\n\n
Sui<\/a> operates as a delegated proof of stake (DPoS) layer-1 blockchain<\/a> written on the Move programming language. The project has since raised $300 million in a series B funding round backed by Binance Labs and Coinbase - bringing its valuation to $2 billion.<\/p>\n\n\n\n
The project, hyped by its community of supporters as the \u2018Ethereum Killer\u2019<\/em>, uses a unique technology involving a parallel data model and execution engine to enhance transaction scaling. Besides, the blockchain employs an object-centric model for processing parallel transactions.<\/p>\n\n\n\n
The unveiling has pumped the price of Binance\u2019s native BNB token upwards despite a bearish market momentum. At press time, the token was changing hands for $333, representing a jump of 3% in the past day.<\/p>\n","post_title":"Binance Launches SUI Farming With Staked BNB And TrueUSD","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-launches-sui-farming-with-staked-bnb-and-trueusd","to_ping":"","pinged":"","post_modified":"2023-05-04 13:03:20","post_modified_gmt":"2023-05-04 03:03:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 … 10 Next

Most Read

Altcoins

Ripple Challenges SEC’s Bid For Appeal In Legal Battle

September 3, 2023

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Artificial Intelligence

Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

August 15, 2024

Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
Following an hour-long period of transaction processing failure, Arbitrum has resumed its operations. A wallet that had previously transferred funds to the Arbitrum multi-signature wallet sent 1.4 Ether to the sequence. This replenishment enabled the sequencer to resume sending transactions to Ethereum.<\/p>\n\n\n\n
The cause behind the depletion of gas in Arbitrum's sequencer remains uncertain. Since its launch in May 2021, the sequencer has only been manually refuelled with Ether on four occasions.<\/p>\n\n\n\n
The recent event highlights the reliance of Arbitrum on a centralized control point. Offchain Labs, the company behind Arbitrum, has expressed its plans to decentralize the network's sequencer. <\/p>\n","post_title":"Arbitrum Faces Temporary Shutdown Due To Gas Shortage","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"arbitrum-faces-temporary-shutdown-due-to-gas-shortage","to_ping":"","pinged":"","post_modified":"2023-06-08 22:45:55","post_modified_gmt":"2023-06-08 12:45:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11929","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11770,"post_author":"13","post_date":"2023-05-18 00:31:26","post_date_gmt":"2023-05-17 14:31:26","post_content":"\n
\n
Judge Analisa Torres has declined a motion by the commission to seal essential documents in the legal tussle.  <\/li>\n\n\n\n
The price of the native XRP token has surged following the ruling.<\/li>\n<\/ul>\n\n\n\n
A US judge presiding over the case between Ripple and the Securities and Exchange Commission (SEC) has rejected a motion filed by the regulator to seal some of the essential documents.<\/p>\n\n\n\n
Judge Analisa Torres of the US District Court has disagreed<\/a> with SEC\u2019s move to seal Hinman\u2019s Speech documents, comprising emails, text messages, and expert reports, saying they were \u2018judicial documents\u2019 subject to a strong presumption of public access.<\/p>\n\n\n\n
As a recap, the SEC is suing<\/a> Ripple for selling unregistered securities. At the centre of the legal matter is a controversial speech by the former finance division director at the commission, William Hinman, who stated that Ether, the native cryptocurrency to the Ethereum blockchain, was not a security. The statement is believed to influence the much-awaited summary judgment considerably.<\/p>\n\n\n\n
The SEC\u2019s Position On The Matter<\/h2>\n\n\n\n
On December 22, the SEC filed a motion before Judge Torres to have all the documents containing Hinman\u2019s speech sealed from the public, saying they were irrelevant to the court\u2019s summary judgment. Further, the commission added that having the documents sealed preserved \u2018openness and candour\u2019, which the court has also rejected.<\/p>\n\n\n\n
\u2018\u2018Regardless of whether the court ultimately determines that the Hinman Speech Documents are admissible, or whether the court relies on the documents in ruling on the summary judgment motions, they are judicial documents subject to a strong presumption of public access because they are \u2018relevant to the performance of the judicial function and useful in the judicial process,'\" <\/em>read the ruling.<\/p>\n\n\n\n
XRP has added more than 5% in the past 24 hours following the development and was trading at $0.4487 at the time of writing. <\/p>\n","post_title":"Ripple Scores Major Victory In Case With The SEC As Court Denies Motion Filed By The Regulator","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-scores-major-victory-in-case-with-the-sec-as-court-denies-motion-filed-by-the-regulator","to_ping":"","pinged":"","post_modified":"2023-05-18 00:31:29","post_modified_gmt":"2023-05-17 14:31:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11770","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11728,"post_author":"12","post_date":"2023-05-15 16:06:43","post_date_gmt":"2023-05-15 06:06:43","post_content":"\n
A recent report<\/a> from Financial Times found that Worldcoin, a cryptocurrency project launched by OpenAI CEO Sam Altman, is close to securing $100M in funding. Those already backing the project include; a16z, Digital Currency Group and Coinbase Ventures; the new round of funding includes \u201cexisting and new investors.\u201d<\/em><\/p>\n\n\n\n
The project<\/a> was founded in 2020 by Sam Altman, Alex Blania, and Max Novendstern. With over 1,697,000 sign ups already, Worldcoin aims to build \"the world\u2019s largest identity and financial network as a public utility, giving ownership to everyone, [and] to create universal access to the global economy regardless of country or background, accelerating the transition to an economic future that welcomes and benefits every person on the planet.<\/em><\/p>\n\n\n\n
In March 2022, The Information\u00a0reported<\/a>\u00a0that the firm was looking to raise $100M\u00a0from investors through a private token sale, citing two people familiar with the situation. These sources stated that \u201cit\u2019s a bear market, a crypto winter. It\u2019s remarkable for a project in this space to get this amount of investment.\u201d<\/em><\/p>\n\n\n\n
Worldcoin Verification, Adoption, And Account Abstraction<\/h2>\n\n\n\nWorldcoin launched a gas-free crypto wallet in early May of 2023 called World App. This wallet relies on a system called World ID which uses zero-knowledge proofs to verify that you're a real human with either a phone number or iris scan. The gasless transactions rely upon account abstraction<\/a>, a popular protocol on Ethereum, under ERC-4337<\/a>.<\/p>\n\n\n\n
World App is also integrated with Uniswap, so users can swap currencies in the wallet.<\/p>\n\n\n\n
Worldcoin has been in its beta for some time now; within \"the next six weeks\" the blockchain protocol is expected to launch and with that, transactions will begin being recorded.<\/p>\n","post_title":"OpenAI's Sam Altman To Secure $100M For Worldcoin; Will Start Recording Transactions In 6 Weeks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openais-sam-altman-to-secure-100m-for-worldcoin-will-start-recording-transactions-in-6-weeks","to_ping":"","pinged":"","post_modified":"2023-05-15 16:06:46","post_modified_gmt":"2023-05-15 06:06:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11728","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11677,"post_author":"15","post_date":"2023-05-13 00:36:12","post_date_gmt":"2023-05-12 14:36:12","post_content":"\n
In the last 24 hours, $46.37 million worth of $PEPE has been deposited into exchanges. The meme coin has net deposits from 1,176 addresses amounting to $22.94 million. $PEPE has seen a significant drop of 31% in value, shrinking its market value to around $500 million, as reported <\/a>by ScopeProtocol.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/ScopeProtocol\/status\/1656916635134066688?s=20\n<\/div><\/figure>\n\n\n\n
$PEPE is a meme coin that has gained significant popularity in cryptocurrency. It has captured the attention of crypto enthusiasts and investors due to its unique and humorous nature.<\/p>\n\n\n\n
Despite its playful image, $PEPE has also experienced fluctuations in its market price. This volatility is characteristic of many memecoins, as trends, speculation, and the overall sentiment of the market can influence their prices.<\/p>\n\n\n\n
More On Memecoins<\/h2>\n\n\n\n
On May 11, 2023, @lookonchain<\/a>, a prominent cryptocurrency analyst, tweeted<\/a> about $PEPE and $LADYs (another meme coin). In his tweet, he praised how a cryptocurrency trader made huge profits trading meme coins. The trader bought $PEPE on Apr 18 and $LADYS before Elon Musk tweeted. In summary, his investment gained 36x on $PEPE and 35x on $LADYS. <\/p>\n\n\n\n
The meme coin phenomenon has emerged as a culture in the cryptocurrency space. We can notably refer to prominent meme coins like Dogecoin ($DOGE) and Shiba Inu ($SHIB). At the time of writing, these two cryptocurrencies ranked number 8 and number 15, respectively, according to Coinmarketcap. $DOGE and $SHIB have paved the way for other meme coins to gain traction in the crypto market.<\/p>\n","post_title":"Massive $PEPE Deposits Shake Crypto Exchanges; Market Value Plunges","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"massive-pepe-deposits-shake-crypto-exchanges-market-value-plunges","to_ping":"","pinged":"","post_modified":"2023-05-13 00:36:16","post_modified_gmt":"2023-05-12 14:36:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11677","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11401,"post_author":"13","post_date":"2023-05-02 11:29:00","post_date_gmt":"2023-05-02 01:29:00","post_content":"\n
\n
SUI farming will open for two days on BNB and TUSD pools beginning May 1.<\/li>\n\n\n\n
The token is expected to list afterward on Binance against BTC, USDT, TUSD, and BNB.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Binance has unveiled its 33rd project on Binance Luanchpoool, Sui, that allows users to farm SUI tokens using staked BNB and TrueUSD (TUSD).<\/p>\n\n\n\n
According to the announcement<\/a> on April 30, the farming of SUI tokens would run for 2 days beginning May 1. After that, the asset would be listed on Binance under trading pairs SUI\/BTC, SUI\/USDT, SUITUSD, and SUI\/BNB, subject to the relevant liquidity requirements.<\/p>\n\n\n\n
40 million SUI tokens are set for launchpool token rewards, 0.4% of the total token supply of 10 billion. So far, more than 9 million BNB tokens have been staked on the BNB pool, while the TUSD pool has more than 450 million staked TUSD.<\/p>\n\n\n\n
DPoS Layer-1 Blockchain<\/h2>\n\n\n\n
Sui<\/a> operates as a delegated proof of stake (DPoS) layer-1 blockchain<\/a> written on the Move programming language. The project has since raised $300 million in a series B funding round backed by Binance Labs and Coinbase - bringing its valuation to $2 billion.<\/p>\n\n\n\n
The project, hyped by its community of supporters as the \u2018Ethereum Killer\u2019<\/em>, uses a unique technology involving a parallel data model and execution engine to enhance transaction scaling. Besides, the blockchain employs an object-centric model for processing parallel transactions.<\/p>\n\n\n\n
The unveiling has pumped the price of Binance\u2019s native BNB token upwards despite a bearish market momentum. At press time, the token was changing hands for $333, representing a jump of 3% in the past day.<\/p>\n","post_title":"Binance Launches SUI Farming With Staked BNB And TrueUSD","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-launches-sui-farming-with-staked-bnb-and-trueusd","to_ping":"","pinged":"","post_modified":"2023-05-04 13:03:20","post_modified_gmt":"2023-05-04 03:03:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 … 10 Next

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Altcoins

Ripple Challenges SEC’s Bid For Appeal In Legal Battle

September 3, 2023

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Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

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November 24, 2024

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By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

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\n
What's Next to Arbitrum?<\/h2>\n\n\n\n
Following an hour-long period of transaction processing failure, Arbitrum has resumed its operations. A wallet that had previously transferred funds to the Arbitrum multi-signature wallet sent 1.4 Ether to the sequence. This replenishment enabled the sequencer to resume sending transactions to Ethereum.<\/p>\n\n\n\n
The cause behind the depletion of gas in Arbitrum's sequencer remains uncertain. Since its launch in May 2021, the sequencer has only been manually refuelled with Ether on four occasions.<\/p>\n\n\n\n
The recent event highlights the reliance of Arbitrum on a centralized control point. Offchain Labs, the company behind Arbitrum, has expressed its plans to decentralize the network's sequencer. <\/p>\n","post_title":"Arbitrum Faces Temporary Shutdown Due To Gas Shortage","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"arbitrum-faces-temporary-shutdown-due-to-gas-shortage","to_ping":"","pinged":"","post_modified":"2023-06-08 22:45:55","post_modified_gmt":"2023-06-08 12:45:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11929","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11770,"post_author":"13","post_date":"2023-05-18 00:31:26","post_date_gmt":"2023-05-17 14:31:26","post_content":"\n
\n
Judge Analisa Torres has declined a motion by the commission to seal essential documents in the legal tussle.  <\/li>\n\n\n\n
The price of the native XRP token has surged following the ruling.<\/li>\n<\/ul>\n\n\n\n
A US judge presiding over the case between Ripple and the Securities and Exchange Commission (SEC) has rejected a motion filed by the regulator to seal some of the essential documents.<\/p>\n\n\n\n
Judge Analisa Torres of the US District Court has disagreed<\/a> with SEC\u2019s move to seal Hinman\u2019s Speech documents, comprising emails, text messages, and expert reports, saying they were \u2018judicial documents\u2019 subject to a strong presumption of public access.<\/p>\n\n\n\n
As a recap, the SEC is suing<\/a> Ripple for selling unregistered securities. At the centre of the legal matter is a controversial speech by the former finance division director at the commission, William Hinman, who stated that Ether, the native cryptocurrency to the Ethereum blockchain, was not a security. The statement is believed to influence the much-awaited summary judgment considerably.<\/p>\n\n\n\n
The SEC\u2019s Position On The Matter<\/h2>\n\n\n\n
On December 22, the SEC filed a motion before Judge Torres to have all the documents containing Hinman\u2019s speech sealed from the public, saying they were irrelevant to the court\u2019s summary judgment. Further, the commission added that having the documents sealed preserved \u2018openness and candour\u2019, which the court has also rejected.<\/p>\n\n\n\n
\u2018\u2018Regardless of whether the court ultimately determines that the Hinman Speech Documents are admissible, or whether the court relies on the documents in ruling on the summary judgment motions, they are judicial documents subject to a strong presumption of public access because they are \u2018relevant to the performance of the judicial function and useful in the judicial process,'\" <\/em>read the ruling.<\/p>\n\n\n\n
XRP has added more than 5% in the past 24 hours following the development and was trading at $0.4487 at the time of writing. <\/p>\n","post_title":"Ripple Scores Major Victory In Case With The SEC As Court Denies Motion Filed By The Regulator","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-scores-major-victory-in-case-with-the-sec-as-court-denies-motion-filed-by-the-regulator","to_ping":"","pinged":"","post_modified":"2023-05-18 00:31:29","post_modified_gmt":"2023-05-17 14:31:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11770","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11728,"post_author":"12","post_date":"2023-05-15 16:06:43","post_date_gmt":"2023-05-15 06:06:43","post_content":"\n
A recent report<\/a> from Financial Times found that Worldcoin, a cryptocurrency project launched by OpenAI CEO Sam Altman, is close to securing $100M in funding. Those already backing the project include; a16z, Digital Currency Group and Coinbase Ventures; the new round of funding includes \u201cexisting and new investors.\u201d<\/em><\/p>\n\n\n\n
The project<\/a> was founded in 2020 by Sam Altman, Alex Blania, and Max Novendstern. With over 1,697,000 sign ups already, Worldcoin aims to build \"the world\u2019s largest identity and financial network as a public utility, giving ownership to everyone, [and] to create universal access to the global economy regardless of country or background, accelerating the transition to an economic future that welcomes and benefits every person on the planet.<\/em><\/p>\n\n\n\n
In March 2022, The Information\u00a0reported<\/a>\u00a0that the firm was looking to raise $100M\u00a0from investors through a private token sale, citing two people familiar with the situation. These sources stated that \u201cit\u2019s a bear market, a crypto winter. It\u2019s remarkable for a project in this space to get this amount of investment.\u201d<\/em><\/p>\n\n\n\n
Worldcoin Verification, Adoption, And Account Abstraction<\/h2>\n\n\n\nWorldcoin launched a gas-free crypto wallet in early May of 2023 called World App. This wallet relies on a system called World ID which uses zero-knowledge proofs to verify that you're a real human with either a phone number or iris scan. The gasless transactions rely upon account abstraction<\/a>, a popular protocol on Ethereum, under ERC-4337<\/a>.<\/p>\n\n\n\n
World App is also integrated with Uniswap, so users can swap currencies in the wallet.<\/p>\n\n\n\n
Worldcoin has been in its beta for some time now; within \"the next six weeks\" the blockchain protocol is expected to launch and with that, transactions will begin being recorded.<\/p>\n","post_title":"OpenAI's Sam Altman To Secure $100M For Worldcoin; Will Start Recording Transactions In 6 Weeks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openais-sam-altman-to-secure-100m-for-worldcoin-will-start-recording-transactions-in-6-weeks","to_ping":"","pinged":"","post_modified":"2023-05-15 16:06:46","post_modified_gmt":"2023-05-15 06:06:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11728","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11677,"post_author":"15","post_date":"2023-05-13 00:36:12","post_date_gmt":"2023-05-12 14:36:12","post_content":"\n
In the last 24 hours, $46.37 million worth of $PEPE has been deposited into exchanges. The meme coin has net deposits from 1,176 addresses amounting to $22.94 million. $PEPE has seen a significant drop of 31% in value, shrinking its market value to around $500 million, as reported <\/a>by ScopeProtocol.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/ScopeProtocol\/status\/1656916635134066688?s=20\n<\/div><\/figure>\n\n\n\n
$PEPE is a meme coin that has gained significant popularity in cryptocurrency. It has captured the attention of crypto enthusiasts and investors due to its unique and humorous nature.<\/p>\n\n\n\n
Despite its playful image, $PEPE has also experienced fluctuations in its market price. This volatility is characteristic of many memecoins, as trends, speculation, and the overall sentiment of the market can influence their prices.<\/p>\n\n\n\n
More On Memecoins<\/h2>\n\n\n\n
On May 11, 2023, @lookonchain<\/a>, a prominent cryptocurrency analyst, tweeted<\/a> about $PEPE and $LADYs (another meme coin). In his tweet, he praised how a cryptocurrency trader made huge profits trading meme coins. The trader bought $PEPE on Apr 18 and $LADYS before Elon Musk tweeted. In summary, his investment gained 36x on $PEPE and 35x on $LADYS. <\/p>\n\n\n\n
The meme coin phenomenon has emerged as a culture in the cryptocurrency space. We can notably refer to prominent meme coins like Dogecoin ($DOGE) and Shiba Inu ($SHIB). At the time of writing, these two cryptocurrencies ranked number 8 and number 15, respectively, according to Coinmarketcap. $DOGE and $SHIB have paved the way for other meme coins to gain traction in the crypto market.<\/p>\n","post_title":"Massive $PEPE Deposits Shake Crypto Exchanges; Market Value Plunges","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"massive-pepe-deposits-shake-crypto-exchanges-market-value-plunges","to_ping":"","pinged":"","post_modified":"2023-05-13 00:36:16","post_modified_gmt":"2023-05-12 14:36:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11677","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11401,"post_author":"13","post_date":"2023-05-02 11:29:00","post_date_gmt":"2023-05-02 01:29:00","post_content":"\n
\n
SUI farming will open for two days on BNB and TUSD pools beginning May 1.<\/li>\n\n\n\n
The token is expected to list afterward on Binance against BTC, USDT, TUSD, and BNB.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Binance has unveiled its 33rd project on Binance Luanchpoool, Sui, that allows users to farm SUI tokens using staked BNB and TrueUSD (TUSD).<\/p>\n\n\n\n
According to the announcement<\/a> on April 30, the farming of SUI tokens would run for 2 days beginning May 1. After that, the asset would be listed on Binance under trading pairs SUI\/BTC, SUI\/USDT, SUITUSD, and SUI\/BNB, subject to the relevant liquidity requirements.<\/p>\n\n\n\n
40 million SUI tokens are set for launchpool token rewards, 0.4% of the total token supply of 10 billion. So far, more than 9 million BNB tokens have been staked on the BNB pool, while the TUSD pool has more than 450 million staked TUSD.<\/p>\n\n\n\n
DPoS Layer-1 Blockchain<\/h2>\n\n\n\n
Sui<\/a> operates as a delegated proof of stake (DPoS) layer-1 blockchain<\/a> written on the Move programming language. The project has since raised $300 million in a series B funding round backed by Binance Labs and Coinbase - bringing its valuation to $2 billion.<\/p>\n\n\n\n
The project, hyped by its community of supporters as the \u2018Ethereum Killer\u2019<\/em>, uses a unique technology involving a parallel data model and execution engine to enhance transaction scaling. Besides, the blockchain employs an object-centric model for processing parallel transactions.<\/p>\n\n\n\n
The unveiling has pumped the price of Binance\u2019s native BNB token upwards despite a bearish market momentum. At press time, the token was changing hands for $333, representing a jump of 3% in the past day.<\/p>\n","post_title":"Binance Launches SUI Farming With Staked BNB And TrueUSD","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-launches-sui-farming-with-staked-bnb-and-trueusd","to_ping":"","pinged":"","post_modified":"2023-05-04 13:03:20","post_modified_gmt":"2023-05-04 03:03:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 … 10 Next

Most Read

Altcoins

Ripple Challenges SEC’s Bid For Appeal In Legal Battle

September 3, 2023

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Artificial Intelligence

Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

August 15, 2024

Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
$\"\"$ <\/figure>\n\n\n\n
What's Next to Arbitrum?<\/h2>\n\n\n\n
Following an hour-long period of transaction processing failure, Arbitrum has resumed its operations. A wallet that had previously transferred funds to the Arbitrum multi-signature wallet sent 1.4 Ether to the sequence. This replenishment enabled the sequencer to resume sending transactions to Ethereum.<\/p>\n\n\n\n
The cause behind the depletion of gas in Arbitrum's sequencer remains uncertain. Since its launch in May 2021, the sequencer has only been manually refuelled with Ether on four occasions.<\/p>\n\n\n\n
The recent event highlights the reliance of Arbitrum on a centralized control point. Offchain Labs, the company behind Arbitrum, has expressed its plans to decentralize the network's sequencer. <\/p>\n","post_title":"Arbitrum Faces Temporary Shutdown Due To Gas Shortage","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"arbitrum-faces-temporary-shutdown-due-to-gas-shortage","to_ping":"","pinged":"","post_modified":"2023-06-08 22:45:55","post_modified_gmt":"2023-06-08 12:45:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11929","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11770,"post_author":"13","post_date":"2023-05-18 00:31:26","post_date_gmt":"2023-05-17 14:31:26","post_content":"\n
\n
Judge Analisa Torres has declined a motion by the commission to seal essential documents in the legal tussle.  <\/li>\n\n\n\n
The price of the native XRP token has surged following the ruling.<\/li>\n<\/ul>\n\n\n\n
A US judge presiding over the case between Ripple and the Securities and Exchange Commission (SEC) has rejected a motion filed by the regulator to seal some of the essential documents.<\/p>\n\n\n\n
Judge Analisa Torres of the US District Court has disagreed<\/a> with SEC\u2019s move to seal Hinman\u2019s Speech documents, comprising emails, text messages, and expert reports, saying they were \u2018judicial documents\u2019 subject to a strong presumption of public access.<\/p>\n\n\n\n
As a recap, the SEC is suing<\/a> Ripple for selling unregistered securities. At the centre of the legal matter is a controversial speech by the former finance division director at the commission, William Hinman, who stated that Ether, the native cryptocurrency to the Ethereum blockchain, was not a security. The statement is believed to influence the much-awaited summary judgment considerably.<\/p>\n\n\n\n
The SEC\u2019s Position On The Matter<\/h2>\n\n\n\n
On December 22, the SEC filed a motion before Judge Torres to have all the documents containing Hinman\u2019s speech sealed from the public, saying they were irrelevant to the court\u2019s summary judgment. Further, the commission added that having the documents sealed preserved \u2018openness and candour\u2019, which the court has also rejected.<\/p>\n\n\n\n
\u2018\u2018Regardless of whether the court ultimately determines that the Hinman Speech Documents are admissible, or whether the court relies on the documents in ruling on the summary judgment motions, they are judicial documents subject to a strong presumption of public access because they are \u2018relevant to the performance of the judicial function and useful in the judicial process,'\" <\/em>read the ruling.<\/p>\n\n\n\n
XRP has added more than 5% in the past 24 hours following the development and was trading at $0.4487 at the time of writing. <\/p>\n","post_title":"Ripple Scores Major Victory In Case With The SEC As Court Denies Motion Filed By The Regulator","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-scores-major-victory-in-case-with-the-sec-as-court-denies-motion-filed-by-the-regulator","to_ping":"","pinged":"","post_modified":"2023-05-18 00:31:29","post_modified_gmt":"2023-05-17 14:31:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11770","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11728,"post_author":"12","post_date":"2023-05-15 16:06:43","post_date_gmt":"2023-05-15 06:06:43","post_content":"\n
A recent report<\/a> from Financial Times found that Worldcoin, a cryptocurrency project launched by OpenAI CEO Sam Altman, is close to securing $100M in funding. Those already backing the project include; a16z, Digital Currency Group and Coinbase Ventures; the new round of funding includes \u201cexisting and new investors.\u201d<\/em><\/p>\n\n\n\n
The project<\/a> was founded in 2020 by Sam Altman, Alex Blania, and Max Novendstern. With over 1,697,000 sign ups already, Worldcoin aims to build \"the world\u2019s largest identity and financial network as a public utility, giving ownership to everyone, [and] to create universal access to the global economy regardless of country or background, accelerating the transition to an economic future that welcomes and benefits every person on the planet.<\/em><\/p>\n\n\n\n
In March 2022, The Information\u00a0reported<\/a>\u00a0that the firm was looking to raise $100M\u00a0from investors through a private token sale, citing two people familiar with the situation. These sources stated that \u201cit\u2019s a bear market, a crypto winter. It\u2019s remarkable for a project in this space to get this amount of investment.\u201d<\/em><\/p>\n\n\n\n
Worldcoin Verification, Adoption, And Account Abstraction<\/h2>\n\n\n\nWorldcoin launched a gas-free crypto wallet in early May of 2023 called World App. This wallet relies on a system called World ID which uses zero-knowledge proofs to verify that you're a real human with either a phone number or iris scan. The gasless transactions rely upon account abstraction<\/a>, a popular protocol on Ethereum, under ERC-4337<\/a>.<\/p>\n\n\n\n
World App is also integrated with Uniswap, so users can swap currencies in the wallet.<\/p>\n\n\n\n
Worldcoin has been in its beta for some time now; within \"the next six weeks\" the blockchain protocol is expected to launch and with that, transactions will begin being recorded.<\/p>\n","post_title":"OpenAI's Sam Altman To Secure $100M For Worldcoin; Will Start Recording Transactions In 6 Weeks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openais-sam-altman-to-secure-100m-for-worldcoin-will-start-recording-transactions-in-6-weeks","to_ping":"","pinged":"","post_modified":"2023-05-15 16:06:46","post_modified_gmt":"2023-05-15 06:06:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11728","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11677,"post_author":"15","post_date":"2023-05-13 00:36:12","post_date_gmt":"2023-05-12 14:36:12","post_content":"\n
In the last 24 hours, $46.37 million worth of $PEPE has been deposited into exchanges. The meme coin has net deposits from 1,176 addresses amounting to $22.94 million. $PEPE has seen a significant drop of 31% in value, shrinking its market value to around $500 million, as reported <\/a>by ScopeProtocol.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/ScopeProtocol\/status\/1656916635134066688?s=20\n<\/div><\/figure>\n\n\n\n
$PEPE is a meme coin that has gained significant popularity in cryptocurrency. It has captured the attention of crypto enthusiasts and investors due to its unique and humorous nature.<\/p>\n\n\n\n
Despite its playful image, $PEPE has also experienced fluctuations in its market price. This volatility is characteristic of many memecoins, as trends, speculation, and the overall sentiment of the market can influence their prices.<\/p>\n\n\n\n
More On Memecoins<\/h2>\n\n\n\n
On May 11, 2023, @lookonchain<\/a>, a prominent cryptocurrency analyst, tweeted<\/a> about $PEPE and $LADYs (another meme coin). In his tweet, he praised how a cryptocurrency trader made huge profits trading meme coins. The trader bought $PEPE on Apr 18 and $LADYS before Elon Musk tweeted. In summary, his investment gained 36x on $PEPE and 35x on $LADYS. <\/p>\n\n\n\n
The meme coin phenomenon has emerged as a culture in the cryptocurrency space. We can notably refer to prominent meme coins like Dogecoin ($DOGE) and Shiba Inu ($SHIB). At the time of writing, these two cryptocurrencies ranked number 8 and number 15, respectively, according to Coinmarketcap. $DOGE and $SHIB have paved the way for other meme coins to gain traction in the crypto market.<\/p>\n","post_title":"Massive $PEPE Deposits Shake Crypto Exchanges; Market Value Plunges","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"massive-pepe-deposits-shake-crypto-exchanges-market-value-plunges","to_ping":"","pinged":"","post_modified":"2023-05-13 00:36:16","post_modified_gmt":"2023-05-12 14:36:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11677","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11401,"post_author":"13","post_date":"2023-05-02 11:29:00","post_date_gmt":"2023-05-02 01:29:00","post_content":"\n
\n
SUI farming will open for two days on BNB and TUSD pools beginning May 1.<\/li>\n\n\n\n
The token is expected to list afterward on Binance against BTC, USDT, TUSD, and BNB.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Binance has unveiled its 33rd project on Binance Luanchpoool, Sui, that allows users to farm SUI tokens using staked BNB and TrueUSD (TUSD).<\/p>\n\n\n\n
According to the announcement<\/a> on April 30, the farming of SUI tokens would run for 2 days beginning May 1. After that, the asset would be listed on Binance under trading pairs SUI\/BTC, SUI\/USDT, SUITUSD, and SUI\/BNB, subject to the relevant liquidity requirements.<\/p>\n\n\n\n
40 million SUI tokens are set for launchpool token rewards, 0.4% of the total token supply of 10 billion. So far, more than 9 million BNB tokens have been staked on the BNB pool, while the TUSD pool has more than 450 million staked TUSD.<\/p>\n\n\n\n
DPoS Layer-1 Blockchain<\/h2>\n\n\n\n
Sui<\/a> operates as a delegated proof of stake (DPoS) layer-1 blockchain<\/a> written on the Move programming language. The project has since raised $300 million in a series B funding round backed by Binance Labs and Coinbase - bringing its valuation to $2 billion.<\/p>\n\n\n\n
The project, hyped by its community of supporters as the \u2018Ethereum Killer\u2019<\/em>, uses a unique technology involving a parallel data model and execution engine to enhance transaction scaling. Besides, the blockchain employs an object-centric model for processing parallel transactions.<\/p>\n\n\n\n
The unveiling has pumped the price of Binance\u2019s native BNB token upwards despite a bearish market momentum. At press time, the token was changing hands for $333, representing a jump of 3% in the past day.<\/p>\n","post_title":"Binance Launches SUI Farming With Staked BNB And TrueUSD","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-launches-sui-farming-with-staked-bnb-and-trueusd","to_ping":"","pinged":"","post_modified":"2023-05-04 13:03:20","post_modified_gmt":"2023-05-04 03:03:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 … 10 Next

Most Read

Altcoins

Ripple Challenges SEC’s Bid For Appeal In Legal Battle

September 3, 2023

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

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December 19, 2024

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August 15, 2024

Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

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By subscribing, you agree with our privacy and terms.

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Follow The Distributed

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\n
According to on-chain records<\/a>, the sequencer exhausted its supply of Ether, the native cryptocurrency of Ethereum used for transaction fees<\/a>. Without sufficient Ether to cover the fees, the sequencer could not process transactions on Ethereum, resulting in Arbitrum coming to a halt.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
What's Next to Arbitrum?<\/h2>\n\n\n\n
Following an hour-long period of transaction processing failure, Arbitrum has resumed its operations. A wallet that had previously transferred funds to the Arbitrum multi-signature wallet sent 1.4 Ether to the sequence. This replenishment enabled the sequencer to resume sending transactions to Ethereum.<\/p>\n\n\n\n
The cause behind the depletion of gas in Arbitrum's sequencer remains uncertain. Since its launch in May 2021, the sequencer has only been manually refuelled with Ether on four occasions.<\/p>\n\n\n\n
The recent event highlights the reliance of Arbitrum on a centralized control point. Offchain Labs, the company behind Arbitrum, has expressed its plans to decentralize the network's sequencer. <\/p>\n","post_title":"Arbitrum Faces Temporary Shutdown Due To Gas Shortage","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"arbitrum-faces-temporary-shutdown-due-to-gas-shortage","to_ping":"","pinged":"","post_modified":"2023-06-08 22:45:55","post_modified_gmt":"2023-06-08 12:45:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11929","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11770,"post_author":"13","post_date":"2023-05-18 00:31:26","post_date_gmt":"2023-05-17 14:31:26","post_content":"\n
\n
Judge Analisa Torres has declined a motion by the commission to seal essential documents in the legal tussle.  <\/li>\n\n\n\n
The price of the native XRP token has surged following the ruling.<\/li>\n<\/ul>\n\n\n\n
A US judge presiding over the case between Ripple and the Securities and Exchange Commission (SEC) has rejected a motion filed by the regulator to seal some of the essential documents.<\/p>\n\n\n\n
Judge Analisa Torres of the US District Court has disagreed<\/a> with SEC\u2019s move to seal Hinman\u2019s Speech documents, comprising emails, text messages, and expert reports, saying they were \u2018judicial documents\u2019 subject to a strong presumption of public access.<\/p>\n\n\n\n
As a recap, the SEC is suing<\/a> Ripple for selling unregistered securities. At the centre of the legal matter is a controversial speech by the former finance division director at the commission, William Hinman, who stated that Ether, the native cryptocurrency to the Ethereum blockchain, was not a security. The statement is believed to influence the much-awaited summary judgment considerably.<\/p>\n\n\n\n
The SEC\u2019s Position On The Matter<\/h2>\n\n\n\n
On December 22, the SEC filed a motion before Judge Torres to have all the documents containing Hinman\u2019s speech sealed from the public, saying they were irrelevant to the court\u2019s summary judgment. Further, the commission added that having the documents sealed preserved \u2018openness and candour\u2019, which the court has also rejected.<\/p>\n\n\n\n
\u2018\u2018Regardless of whether the court ultimately determines that the Hinman Speech Documents are admissible, or whether the court relies on the documents in ruling on the summary judgment motions, they are judicial documents subject to a strong presumption of public access because they are \u2018relevant to the performance of the judicial function and useful in the judicial process,'\" <\/em>read the ruling.<\/p>\n\n\n\n
XRP has added more than 5% in the past 24 hours following the development and was trading at $0.4487 at the time of writing. <\/p>\n","post_title":"Ripple Scores Major Victory In Case With The SEC As Court Denies Motion Filed By The Regulator","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-scores-major-victory-in-case-with-the-sec-as-court-denies-motion-filed-by-the-regulator","to_ping":"","pinged":"","post_modified":"2023-05-18 00:31:29","post_modified_gmt":"2023-05-17 14:31:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11770","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11728,"post_author":"12","post_date":"2023-05-15 16:06:43","post_date_gmt":"2023-05-15 06:06:43","post_content":"\n
A recent report<\/a> from Financial Times found that Worldcoin, a cryptocurrency project launched by OpenAI CEO Sam Altman, is close to securing $100M in funding. Those already backing the project include; a16z, Digital Currency Group and Coinbase Ventures; the new round of funding includes \u201cexisting and new investors.\u201d<\/em><\/p>\n\n\n\n
The project<\/a> was founded in 2020 by Sam Altman, Alex Blania, and Max Novendstern. With over 1,697,000 sign ups already, Worldcoin aims to build \"the world\u2019s largest identity and financial network as a public utility, giving ownership to everyone, [and] to create universal access to the global economy regardless of country or background, accelerating the transition to an economic future that welcomes and benefits every person on the planet.<\/em><\/p>\n\n\n\n
In March 2022, The Information\u00a0reported<\/a>\u00a0that the firm was looking to raise $100M\u00a0from investors through a private token sale, citing two people familiar with the situation. These sources stated that \u201cit\u2019s a bear market, a crypto winter. It\u2019s remarkable for a project in this space to get this amount of investment.\u201d<\/em><\/p>\n\n\n\n
Worldcoin Verification, Adoption, And Account Abstraction<\/h2>\n\n\n\nWorldcoin launched a gas-free crypto wallet in early May of 2023 called World App. This wallet relies on a system called World ID which uses zero-knowledge proofs to verify that you're a real human with either a phone number or iris scan. The gasless transactions rely upon account abstraction<\/a>, a popular protocol on Ethereum, under ERC-4337<\/a>.<\/p>\n\n\n\n
World App is also integrated with Uniswap, so users can swap currencies in the wallet.<\/p>\n\n\n\n
Worldcoin has been in its beta for some time now; within \"the next six weeks\" the blockchain protocol is expected to launch and with that, transactions will begin being recorded.<\/p>\n","post_title":"OpenAI's Sam Altman To Secure $100M For Worldcoin; Will Start Recording Transactions In 6 Weeks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openais-sam-altman-to-secure-100m-for-worldcoin-will-start-recording-transactions-in-6-weeks","to_ping":"","pinged":"","post_modified":"2023-05-15 16:06:46","post_modified_gmt":"2023-05-15 06:06:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11728","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11677,"post_author":"15","post_date":"2023-05-13 00:36:12","post_date_gmt":"2023-05-12 14:36:12","post_content":"\n
In the last 24 hours, $46.37 million worth of $PEPE has been deposited into exchanges. The meme coin has net deposits from 1,176 addresses amounting to $22.94 million. $PEPE has seen a significant drop of 31% in value, shrinking its market value to around $500 million, as reported <\/a>by ScopeProtocol.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/ScopeProtocol\/status\/1656916635134066688?s=20\n<\/div><\/figure>\n\n\n\n
$PEPE is a meme coin that has gained significant popularity in cryptocurrency. It has captured the attention of crypto enthusiasts and investors due to its unique and humorous nature.<\/p>\n\n\n\n
Despite its playful image, $PEPE has also experienced fluctuations in its market price. This volatility is characteristic of many memecoins, as trends, speculation, and the overall sentiment of the market can influence their prices.<\/p>\n\n\n\n
More On Memecoins<\/h2>\n\n\n\n
On May 11, 2023, @lookonchain<\/a>, a prominent cryptocurrency analyst, tweeted<\/a> about $PEPE and $LADYs (another meme coin). In his tweet, he praised how a cryptocurrency trader made huge profits trading meme coins. The trader bought $PEPE on Apr 18 and $LADYS before Elon Musk tweeted. In summary, his investment gained 36x on $PEPE and 35x on $LADYS. <\/p>\n\n\n\n
The meme coin phenomenon has emerged as a culture in the cryptocurrency space. We can notably refer to prominent meme coins like Dogecoin ($DOGE) and Shiba Inu ($SHIB). At the time of writing, these two cryptocurrencies ranked number 8 and number 15, respectively, according to Coinmarketcap. $DOGE and $SHIB have paved the way for other meme coins to gain traction in the crypto market.<\/p>\n","post_title":"Massive $PEPE Deposits Shake Crypto Exchanges; Market Value Plunges","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"massive-pepe-deposits-shake-crypto-exchanges-market-value-plunges","to_ping":"","pinged":"","post_modified":"2023-05-13 00:36:16","post_modified_gmt":"2023-05-12 14:36:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11677","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11401,"post_author":"13","post_date":"2023-05-02 11:29:00","post_date_gmt":"2023-05-02 01:29:00","post_content":"\n
\n
SUI farming will open for two days on BNB and TUSD pools beginning May 1.<\/li>\n\n\n\n
The token is expected to list afterward on Binance against BTC, USDT, TUSD, and BNB.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Binance has unveiled its 33rd project on Binance Luanchpoool, Sui, that allows users to farm SUI tokens using staked BNB and TrueUSD (TUSD).<\/p>\n\n\n\n
According to the announcement<\/a> on April 30, the farming of SUI tokens would run for 2 days beginning May 1. After that, the asset would be listed on Binance under trading pairs SUI\/BTC, SUI\/USDT, SUITUSD, and SUI\/BNB, subject to the relevant liquidity requirements.<\/p>\n\n\n\n
40 million SUI tokens are set for launchpool token rewards, 0.4% of the total token supply of 10 billion. So far, more than 9 million BNB tokens have been staked on the BNB pool, while the TUSD pool has more than 450 million staked TUSD.<\/p>\n\n\n\n
DPoS Layer-1 Blockchain<\/h2>\n\n\n\n
Sui<\/a> operates as a delegated proof of stake (DPoS) layer-1 blockchain<\/a> written on the Move programming language. The project has since raised $300 million in a series B funding round backed by Binance Labs and Coinbase - bringing its valuation to $2 billion.<\/p>\n\n\n\n
The project, hyped by its community of supporters as the \u2018Ethereum Killer\u2019<\/em>, uses a unique technology involving a parallel data model and execution engine to enhance transaction scaling. Besides, the blockchain employs an object-centric model for processing parallel transactions.<\/p>\n\n\n\n
The unveiling has pumped the price of Binance\u2019s native BNB token upwards despite a bearish market momentum. At press time, the token was changing hands for $333, representing a jump of 3% in the past day.<\/p>\n","post_title":"Binance Launches SUI Farming With Staked BNB And TrueUSD","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-launches-sui-farming-with-staked-bnb-and-trueusd","to_ping":"","pinged":"","post_modified":"2023-05-04 13:03:20","post_modified_gmt":"2023-05-04 03:03:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 … 10 Next

Most Read

Altcoins

Ripple Challenges SEC’s Bid For Appeal In Legal Battle

September 3, 2023

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Artificial Intelligence

Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

August 15, 2024

Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
Developers on the Arbitrum Discord server<\/a> faced connectivity issues with the network's sequencer. The software is responsible for bundling and confirming transactions on the Ethereum network.<\/p>\n\n\n\n
According to on-chain records<\/a>, the sequencer exhausted its supply of Ether, the native cryptocurrency of Ethereum used for transaction fees<\/a>. Without sufficient Ether to cover the fees, the sequencer could not process transactions on Ethereum, resulting in Arbitrum coming to a halt.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
What's Next to Arbitrum?<\/h2>\n\n\n\n
Following an hour-long period of transaction processing failure, Arbitrum has resumed its operations. A wallet that had previously transferred funds to the Arbitrum multi-signature wallet sent 1.4 Ether to the sequence. This replenishment enabled the sequencer to resume sending transactions to Ethereum.<\/p>\n\n\n\n
The cause behind the depletion of gas in Arbitrum's sequencer remains uncertain. Since its launch in May 2021, the sequencer has only been manually refuelled with Ether on four occasions.<\/p>\n\n\n\n
The recent event highlights the reliance of Arbitrum on a centralized control point. Offchain Labs, the company behind Arbitrum, has expressed its plans to decentralize the network's sequencer. <\/p>\n","post_title":"Arbitrum Faces Temporary Shutdown Due To Gas Shortage","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"arbitrum-faces-temporary-shutdown-due-to-gas-shortage","to_ping":"","pinged":"","post_modified":"2023-06-08 22:45:55","post_modified_gmt":"2023-06-08 12:45:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11929","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11770,"post_author":"13","post_date":"2023-05-18 00:31:26","post_date_gmt":"2023-05-17 14:31:26","post_content":"\n
\n
Judge Analisa Torres has declined a motion by the commission to seal essential documents in the legal tussle.  <\/li>\n\n\n\n
The price of the native XRP token has surged following the ruling.<\/li>\n<\/ul>\n\n\n\n
A US judge presiding over the case between Ripple and the Securities and Exchange Commission (SEC) has rejected a motion filed by the regulator to seal some of the essential documents.<\/p>\n\n\n\n
Judge Analisa Torres of the US District Court has disagreed<\/a> with SEC\u2019s move to seal Hinman\u2019s Speech documents, comprising emails, text messages, and expert reports, saying they were \u2018judicial documents\u2019 subject to a strong presumption of public access.<\/p>\n\n\n\n
As a recap, the SEC is suing<\/a> Ripple for selling unregistered securities. At the centre of the legal matter is a controversial speech by the former finance division director at the commission, William Hinman, who stated that Ether, the native cryptocurrency to the Ethereum blockchain, was not a security. The statement is believed to influence the much-awaited summary judgment considerably.<\/p>\n\n\n\n
The SEC\u2019s Position On The Matter<\/h2>\n\n\n\n
On December 22, the SEC filed a motion before Judge Torres to have all the documents containing Hinman\u2019s speech sealed from the public, saying they were irrelevant to the court\u2019s summary judgment. Further, the commission added that having the documents sealed preserved \u2018openness and candour\u2019, which the court has also rejected.<\/p>\n\n\n\n
\u2018\u2018Regardless of whether the court ultimately determines that the Hinman Speech Documents are admissible, or whether the court relies on the documents in ruling on the summary judgment motions, they are judicial documents subject to a strong presumption of public access because they are \u2018relevant to the performance of the judicial function and useful in the judicial process,'\" <\/em>read the ruling.<\/p>\n\n\n\n
XRP has added more than 5% in the past 24 hours following the development and was trading at $0.4487 at the time of writing. <\/p>\n","post_title":"Ripple Scores Major Victory In Case With The SEC As Court Denies Motion Filed By The Regulator","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-scores-major-victory-in-case-with-the-sec-as-court-denies-motion-filed-by-the-regulator","to_ping":"","pinged":"","post_modified":"2023-05-18 00:31:29","post_modified_gmt":"2023-05-17 14:31:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11770","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11728,"post_author":"12","post_date":"2023-05-15 16:06:43","post_date_gmt":"2023-05-15 06:06:43","post_content":"\n
A recent report<\/a> from Financial Times found that Worldcoin, a cryptocurrency project launched by OpenAI CEO Sam Altman, is close to securing $100M in funding. Those already backing the project include; a16z, Digital Currency Group and Coinbase Ventures; the new round of funding includes \u201cexisting and new investors.\u201d<\/em><\/p>\n\n\n\n
The project<\/a> was founded in 2020 by Sam Altman, Alex Blania, and Max Novendstern. With over 1,697,000 sign ups already, Worldcoin aims to build \"the world\u2019s largest identity and financial network as a public utility, giving ownership to everyone, [and] to create universal access to the global economy regardless of country or background, accelerating the transition to an economic future that welcomes and benefits every person on the planet.<\/em><\/p>\n\n\n\n
In March 2022, The Information\u00a0reported<\/a>\u00a0that the firm was looking to raise $100M\u00a0from investors through a private token sale, citing two people familiar with the situation. These sources stated that \u201cit\u2019s a bear market, a crypto winter. It\u2019s remarkable for a project in this space to get this amount of investment.\u201d<\/em><\/p>\n\n\n\n
Worldcoin Verification, Adoption, And Account Abstraction<\/h2>\n\n\n\nWorldcoin launched a gas-free crypto wallet in early May of 2023 called World App. This wallet relies on a system called World ID which uses zero-knowledge proofs to verify that you're a real human with either a phone number or iris scan. The gasless transactions rely upon account abstraction<\/a>, a popular protocol on Ethereum, under ERC-4337<\/a>.<\/p>\n\n\n\n
World App is also integrated with Uniswap, so users can swap currencies in the wallet.<\/p>\n\n\n\n
Worldcoin has been in its beta for some time now; within \"the next six weeks\" the blockchain protocol is expected to launch and with that, transactions will begin being recorded.<\/p>\n","post_title":"OpenAI's Sam Altman To Secure $100M For Worldcoin; Will Start Recording Transactions In 6 Weeks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openais-sam-altman-to-secure-100m-for-worldcoin-will-start-recording-transactions-in-6-weeks","to_ping":"","pinged":"","post_modified":"2023-05-15 16:06:46","post_modified_gmt":"2023-05-15 06:06:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11728","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11677,"post_author":"15","post_date":"2023-05-13 00:36:12","post_date_gmt":"2023-05-12 14:36:12","post_content":"\n
In the last 24 hours, $46.37 million worth of $PEPE has been deposited into exchanges. The meme coin has net deposits from 1,176 addresses amounting to $22.94 million. $PEPE has seen a significant drop of 31% in value, shrinking its market value to around $500 million, as reported <\/a>by ScopeProtocol.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/ScopeProtocol\/status\/1656916635134066688?s=20\n<\/div><\/figure>\n\n\n\n
$PEPE is a meme coin that has gained significant popularity in cryptocurrency. It has captured the attention of crypto enthusiasts and investors due to its unique and humorous nature.<\/p>\n\n\n\n
Despite its playful image, $PEPE has also experienced fluctuations in its market price. This volatility is characteristic of many memecoins, as trends, speculation, and the overall sentiment of the market can influence their prices.<\/p>\n\n\n\n
More On Memecoins<\/h2>\n\n\n\n
On May 11, 2023, @lookonchain<\/a>, a prominent cryptocurrency analyst, tweeted<\/a> about $PEPE and $LADYs (another meme coin). In his tweet, he praised how a cryptocurrency trader made huge profits trading meme coins. The trader bought $PEPE on Apr 18 and $LADYS before Elon Musk tweeted. In summary, his investment gained 36x on $PEPE and 35x on $LADYS. <\/p>\n\n\n\n
The meme coin phenomenon has emerged as a culture in the cryptocurrency space. We can notably refer to prominent meme coins like Dogecoin ($DOGE) and Shiba Inu ($SHIB). At the time of writing, these two cryptocurrencies ranked number 8 and number 15, respectively, according to Coinmarketcap. $DOGE and $SHIB have paved the way for other meme coins to gain traction in the crypto market.<\/p>\n","post_title":"Massive $PEPE Deposits Shake Crypto Exchanges; Market Value Plunges","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"massive-pepe-deposits-shake-crypto-exchanges-market-value-plunges","to_ping":"","pinged":"","post_modified":"2023-05-13 00:36:16","post_modified_gmt":"2023-05-12 14:36:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11677","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11401,"post_author":"13","post_date":"2023-05-02 11:29:00","post_date_gmt":"2023-05-02 01:29:00","post_content":"\n
\n
SUI farming will open for two days on BNB and TUSD pools beginning May 1.<\/li>\n\n\n\n
The token is expected to list afterward on Binance against BTC, USDT, TUSD, and BNB.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Binance has unveiled its 33rd project on Binance Luanchpoool, Sui, that allows users to farm SUI tokens using staked BNB and TrueUSD (TUSD).<\/p>\n\n\n\n
According to the announcement<\/a> on April 30, the farming of SUI tokens would run for 2 days beginning May 1. After that, the asset would be listed on Binance under trading pairs SUI\/BTC, SUI\/USDT, SUITUSD, and SUI\/BNB, subject to the relevant liquidity requirements.<\/p>\n\n\n\n
40 million SUI tokens are set for launchpool token rewards, 0.4% of the total token supply of 10 billion. So far, more than 9 million BNB tokens have been staked on the BNB pool, while the TUSD pool has more than 450 million staked TUSD.<\/p>\n\n\n\n
DPoS Layer-1 Blockchain<\/h2>\n\n\n\n
Sui<\/a> operates as a delegated proof of stake (DPoS) layer-1 blockchain<\/a> written on the Move programming language. The project has since raised $300 million in a series B funding round backed by Binance Labs and Coinbase - bringing its valuation to $2 billion.<\/p>\n\n\n\n
The project, hyped by its community of supporters as the \u2018Ethereum Killer\u2019<\/em>, uses a unique technology involving a parallel data model and execution engine to enhance transaction scaling. Besides, the blockchain employs an object-centric model for processing parallel transactions.<\/p>\n\n\n\n
The unveiling has pumped the price of Binance\u2019s native BNB token upwards despite a bearish market momentum. At press time, the token was changing hands for $333, representing a jump of 3% in the past day.<\/p>\n","post_title":"Binance Launches SUI Farming With Staked BNB And TrueUSD","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-launches-sui-farming-with-staked-bnb-and-trueusd","to_ping":"","pinged":"","post_modified":"2023-05-04 13:03:20","post_modified_gmt":"2023-05-04 03:03:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 … 10 Next

Most Read

Altcoins

Ripple Challenges SEC’s Bid For Appeal In Legal Battle

September 3, 2023

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

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December 19, 2024

Artificial Intelligence

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August 15, 2024

Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

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By subscribing, you agree with our privacy and terms.

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Follow The Distributed

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ADVERTISEMENT

\n
Arbitrum, a layer 2 blockchain, halts the process of transactions due to funding issues. With over $2.24 billion in deposits, the network experiences an hour-long standstill due to gas shortage. <\/p>\n\n\n\n
Developers on the Arbitrum Discord server<\/a> faced connectivity issues with the network's sequencer. The software is responsible for bundling and confirming transactions on the Ethereum network.<\/p>\n\n\n\n
According to on-chain records<\/a>, the sequencer exhausted its supply of Ether, the native cryptocurrency of Ethereum used for transaction fees<\/a>. Without sufficient Ether to cover the fees, the sequencer could not process transactions on Ethereum, resulting in Arbitrum coming to a halt.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
What's Next to Arbitrum?<\/h2>\n\n\n\n
Following an hour-long period of transaction processing failure, Arbitrum has resumed its operations. A wallet that had previously transferred funds to the Arbitrum multi-signature wallet sent 1.4 Ether to the sequence. This replenishment enabled the sequencer to resume sending transactions to Ethereum.<\/p>\n\n\n\n
The cause behind the depletion of gas in Arbitrum's sequencer remains uncertain. Since its launch in May 2021, the sequencer has only been manually refuelled with Ether on four occasions.<\/p>\n\n\n\n
The recent event highlights the reliance of Arbitrum on a centralized control point. Offchain Labs, the company behind Arbitrum, has expressed its plans to decentralize the network's sequencer. <\/p>\n","post_title":"Arbitrum Faces Temporary Shutdown Due To Gas Shortage","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"arbitrum-faces-temporary-shutdown-due-to-gas-shortage","to_ping":"","pinged":"","post_modified":"2023-06-08 22:45:55","post_modified_gmt":"2023-06-08 12:45:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11929","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11770,"post_author":"13","post_date":"2023-05-18 00:31:26","post_date_gmt":"2023-05-17 14:31:26","post_content":"\n
\n
Judge Analisa Torres has declined a motion by the commission to seal essential documents in the legal tussle.  <\/li>\n\n\n\n
The price of the native XRP token has surged following the ruling.<\/li>\n<\/ul>\n\n\n\n
A US judge presiding over the case between Ripple and the Securities and Exchange Commission (SEC) has rejected a motion filed by the regulator to seal some of the essential documents.<\/p>\n\n\n\n
Judge Analisa Torres of the US District Court has disagreed<\/a> with SEC\u2019s move to seal Hinman\u2019s Speech documents, comprising emails, text messages, and expert reports, saying they were \u2018judicial documents\u2019 subject to a strong presumption of public access.<\/p>\n\n\n\n
As a recap, the SEC is suing<\/a> Ripple for selling unregistered securities. At the centre of the legal matter is a controversial speech by the former finance division director at the commission, William Hinman, who stated that Ether, the native cryptocurrency to the Ethereum blockchain, was not a security. The statement is believed to influence the much-awaited summary judgment considerably.<\/p>\n\n\n\n
The SEC\u2019s Position On The Matter<\/h2>\n\n\n\n
On December 22, the SEC filed a motion before Judge Torres to have all the documents containing Hinman\u2019s speech sealed from the public, saying they were irrelevant to the court\u2019s summary judgment. Further, the commission added that having the documents sealed preserved \u2018openness and candour\u2019, which the court has also rejected.<\/p>\n\n\n\n
\u2018\u2018Regardless of whether the court ultimately determines that the Hinman Speech Documents are admissible, or whether the court relies on the documents in ruling on the summary judgment motions, they are judicial documents subject to a strong presumption of public access because they are \u2018relevant to the performance of the judicial function and useful in the judicial process,'\" <\/em>read the ruling.<\/p>\n\n\n\n
XRP has added more than 5% in the past 24 hours following the development and was trading at $0.4487 at the time of writing. <\/p>\n","post_title":"Ripple Scores Major Victory In Case With The SEC As Court Denies Motion Filed By The Regulator","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-scores-major-victory-in-case-with-the-sec-as-court-denies-motion-filed-by-the-regulator","to_ping":"","pinged":"","post_modified":"2023-05-18 00:31:29","post_modified_gmt":"2023-05-17 14:31:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11770","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11728,"post_author":"12","post_date":"2023-05-15 16:06:43","post_date_gmt":"2023-05-15 06:06:43","post_content":"\n
A recent report<\/a> from Financial Times found that Worldcoin, a cryptocurrency project launched by OpenAI CEO Sam Altman, is close to securing $100M in funding. Those already backing the project include; a16z, Digital Currency Group and Coinbase Ventures; the new round of funding includes \u201cexisting and new investors.\u201d<\/em><\/p>\n\n\n\n
The project<\/a> was founded in 2020 by Sam Altman, Alex Blania, and Max Novendstern. With over 1,697,000 sign ups already, Worldcoin aims to build \"the world\u2019s largest identity and financial network as a public utility, giving ownership to everyone, [and] to create universal access to the global economy regardless of country or background, accelerating the transition to an economic future that welcomes and benefits every person on the planet.<\/em><\/p>\n\n\n\n
In March 2022, The Information\u00a0reported<\/a>\u00a0that the firm was looking to raise $100M\u00a0from investors through a private token sale, citing two people familiar with the situation. These sources stated that \u201cit\u2019s a bear market, a crypto winter. It\u2019s remarkable for a project in this space to get this amount of investment.\u201d<\/em><\/p>\n\n\n\n
Worldcoin Verification, Adoption, And Account Abstraction<\/h2>\n\n\n\nWorldcoin launched a gas-free crypto wallet in early May of 2023 called World App. This wallet relies on a system called World ID which uses zero-knowledge proofs to verify that you're a real human with either a phone number or iris scan. The gasless transactions rely upon account abstraction<\/a>, a popular protocol on Ethereum, under ERC-4337<\/a>.<\/p>\n\n\n\n
World App is also integrated with Uniswap, so users can swap currencies in the wallet.<\/p>\n\n\n\n
Worldcoin has been in its beta for some time now; within \"the next six weeks\" the blockchain protocol is expected to launch and with that, transactions will begin being recorded.<\/p>\n","post_title":"OpenAI's Sam Altman To Secure $100M For Worldcoin; Will Start Recording Transactions In 6 Weeks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openais-sam-altman-to-secure-100m-for-worldcoin-will-start-recording-transactions-in-6-weeks","to_ping":"","pinged":"","post_modified":"2023-05-15 16:06:46","post_modified_gmt":"2023-05-15 06:06:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11728","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11677,"post_author":"15","post_date":"2023-05-13 00:36:12","post_date_gmt":"2023-05-12 14:36:12","post_content":"\n
In the last 24 hours, $46.37 million worth of $PEPE has been deposited into exchanges. The meme coin has net deposits from 1,176 addresses amounting to $22.94 million. $PEPE has seen a significant drop of 31% in value, shrinking its market value to around $500 million, as reported <\/a>by ScopeProtocol.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/ScopeProtocol\/status\/1656916635134066688?s=20\n<\/div><\/figure>\n\n\n\n
$PEPE is a meme coin that has gained significant popularity in cryptocurrency. It has captured the attention of crypto enthusiasts and investors due to its unique and humorous nature.<\/p>\n\n\n\n
Despite its playful image, $PEPE has also experienced fluctuations in its market price. This volatility is characteristic of many memecoins, as trends, speculation, and the overall sentiment of the market can influence their prices.<\/p>\n\n\n\n
More On Memecoins<\/h2>\n\n\n\n
On May 11, 2023, @lookonchain<\/a>, a prominent cryptocurrency analyst, tweeted<\/a> about $PEPE and $LADYs (another meme coin). In his tweet, he praised how a cryptocurrency trader made huge profits trading meme coins. The trader bought $PEPE on Apr 18 and $LADYS before Elon Musk tweeted. In summary, his investment gained 36x on $PEPE and 35x on $LADYS. <\/p>\n\n\n\n
The meme coin phenomenon has emerged as a culture in the cryptocurrency space. We can notably refer to prominent meme coins like Dogecoin ($DOGE) and Shiba Inu ($SHIB). At the time of writing, these two cryptocurrencies ranked number 8 and number 15, respectively, according to Coinmarketcap. $DOGE and $SHIB have paved the way for other meme coins to gain traction in the crypto market.<\/p>\n","post_title":"Massive $PEPE Deposits Shake Crypto Exchanges; Market Value Plunges","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"massive-pepe-deposits-shake-crypto-exchanges-market-value-plunges","to_ping":"","pinged":"","post_modified":"2023-05-13 00:36:16","post_modified_gmt":"2023-05-12 14:36:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11677","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11401,"post_author":"13","post_date":"2023-05-02 11:29:00","post_date_gmt":"2023-05-02 01:29:00","post_content":"\n
\n
SUI farming will open for two days on BNB and TUSD pools beginning May 1.<\/li>\n\n\n\n
The token is expected to list afterward on Binance against BTC, USDT, TUSD, and BNB.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Binance has unveiled its 33rd project on Binance Luanchpoool, Sui, that allows users to farm SUI tokens using staked BNB and TrueUSD (TUSD).<\/p>\n\n\n\n
According to the announcement<\/a> on April 30, the farming of SUI tokens would run for 2 days beginning May 1. After that, the asset would be listed on Binance under trading pairs SUI\/BTC, SUI\/USDT, SUITUSD, and SUI\/BNB, subject to the relevant liquidity requirements.<\/p>\n\n\n\n
40 million SUI tokens are set for launchpool token rewards, 0.4% of the total token supply of 10 billion. So far, more than 9 million BNB tokens have been staked on the BNB pool, while the TUSD pool has more than 450 million staked TUSD.<\/p>\n\n\n\n
DPoS Layer-1 Blockchain<\/h2>\n\n\n\n
Sui<\/a> operates as a delegated proof of stake (DPoS) layer-1 blockchain<\/a> written on the Move programming language. The project has since raised $300 million in a series B funding round backed by Binance Labs and Coinbase - bringing its valuation to $2 billion.<\/p>\n\n\n\n
The project, hyped by its community of supporters as the \u2018Ethereum Killer\u2019<\/em>, uses a unique technology involving a parallel data model and execution engine to enhance transaction scaling. Besides, the blockchain employs an object-centric model for processing parallel transactions.<\/p>\n\n\n\n
The unveiling has pumped the price of Binance\u2019s native BNB token upwards despite a bearish market momentum. At press time, the token was changing hands for $333, representing a jump of 3% in the past day.<\/p>\n","post_title":"Binance Launches SUI Farming With Staked BNB And TrueUSD","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-launches-sui-farming-with-staked-bnb-and-trueusd","to_ping":"","pinged":"","post_modified":"2023-05-04 13:03:20","post_modified_gmt":"2023-05-04 03:03:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 … 10 Next

Most Read

Altcoins

Ripple Challenges SEC’s Bid For Appeal In Legal Battle

September 3, 2023

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Artificial Intelligence

Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

August 15, 2024

Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
At the start of the year, the SEC brought charges<\/a> against Gemini and Genesis for allegedly violating the securities regulations related to crypto lending. In February, it\u00a0 fined crypto exchange Kraken<\/a>\u00a0$30 million and ordered the platform to cease offering staking services to US users.<\/p>\n","post_title":"Ripple-SEC Ruling \u2018A Win\u2019 For Crypto Industry But Regulatory War Not Over, JP Morgan Says","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-sec-ruling-a-win-for-crypto-industry-but-regulatory-war-not-over-jp-morgan-says","to_ping":"","pinged":"","post_modified":"2023-07-15 23:36:25","post_modified_gmt":"2023-07-15 13:36:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11929,"post_author":"15","post_date":"2023-06-08 22:45:46","post_date_gmt":"2023-06-08 12:45:46","post_content":"\n
Arbitrum, a layer 2 blockchain, halts the process of transactions due to funding issues. With over $2.24 billion in deposits, the network experiences an hour-long standstill due to gas shortage. <\/p>\n\n\n\n
Developers on the Arbitrum Discord server<\/a> faced connectivity issues with the network's sequencer. The software is responsible for bundling and confirming transactions on the Ethereum network.<\/p>\n\n\n\n
According to on-chain records<\/a>, the sequencer exhausted its supply of Ether, the native cryptocurrency of Ethereum used for transaction fees<\/a>. Without sufficient Ether to cover the fees, the sequencer could not process transactions on Ethereum, resulting in Arbitrum coming to a halt.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
What's Next to Arbitrum?<\/h2>\n\n\n\n
Following an hour-long period of transaction processing failure, Arbitrum has resumed its operations. A wallet that had previously transferred funds to the Arbitrum multi-signature wallet sent 1.4 Ether to the sequence. This replenishment enabled the sequencer to resume sending transactions to Ethereum.<\/p>\n\n\n\n
The cause behind the depletion of gas in Arbitrum's sequencer remains uncertain. Since its launch in May 2021, the sequencer has only been manually refuelled with Ether on four occasions.<\/p>\n\n\n\n
The recent event highlights the reliance of Arbitrum on a centralized control point. Offchain Labs, the company behind Arbitrum, has expressed its plans to decentralize the network's sequencer. <\/p>\n","post_title":"Arbitrum Faces Temporary Shutdown Due To Gas Shortage","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"arbitrum-faces-temporary-shutdown-due-to-gas-shortage","to_ping":"","pinged":"","post_modified":"2023-06-08 22:45:55","post_modified_gmt":"2023-06-08 12:45:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11929","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11770,"post_author":"13","post_date":"2023-05-18 00:31:26","post_date_gmt":"2023-05-17 14:31:26","post_content":"\n
\n
Judge Analisa Torres has declined a motion by the commission to seal essential documents in the legal tussle.  <\/li>\n\n\n\n
The price of the native XRP token has surged following the ruling.<\/li>\n<\/ul>\n\n\n\n
A US judge presiding over the case between Ripple and the Securities and Exchange Commission (SEC) has rejected a motion filed by the regulator to seal some of the essential documents.<\/p>\n\n\n\n
Judge Analisa Torres of the US District Court has disagreed<\/a> with SEC\u2019s move to seal Hinman\u2019s Speech documents, comprising emails, text messages, and expert reports, saying they were \u2018judicial documents\u2019 subject to a strong presumption of public access.<\/p>\n\n\n\n
As a recap, the SEC is suing<\/a> Ripple for selling unregistered securities. At the centre of the legal matter is a controversial speech by the former finance division director at the commission, William Hinman, who stated that Ether, the native cryptocurrency to the Ethereum blockchain, was not a security. The statement is believed to influence the much-awaited summary judgment considerably.<\/p>\n\n\n\n
The SEC\u2019s Position On The Matter<\/h2>\n\n\n\n
On December 22, the SEC filed a motion before Judge Torres to have all the documents containing Hinman\u2019s speech sealed from the public, saying they were irrelevant to the court\u2019s summary judgment. Further, the commission added that having the documents sealed preserved \u2018openness and candour\u2019, which the court has also rejected.<\/p>\n\n\n\n
\u2018\u2018Regardless of whether the court ultimately determines that the Hinman Speech Documents are admissible, or whether the court relies on the documents in ruling on the summary judgment motions, they are judicial documents subject to a strong presumption of public access because they are \u2018relevant to the performance of the judicial function and useful in the judicial process,'\" <\/em>read the ruling.<\/p>\n\n\n\n
XRP has added more than 5% in the past 24 hours following the development and was trading at $0.4487 at the time of writing. <\/p>\n","post_title":"Ripple Scores Major Victory In Case With The SEC As Court Denies Motion Filed By The Regulator","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-scores-major-victory-in-case-with-the-sec-as-court-denies-motion-filed-by-the-regulator","to_ping":"","pinged":"","post_modified":"2023-05-18 00:31:29","post_modified_gmt":"2023-05-17 14:31:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11770","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11728,"post_author":"12","post_date":"2023-05-15 16:06:43","post_date_gmt":"2023-05-15 06:06:43","post_content":"\n
A recent report<\/a> from Financial Times found that Worldcoin, a cryptocurrency project launched by OpenAI CEO Sam Altman, is close to securing $100M in funding. Those already backing the project include; a16z, Digital Currency Group and Coinbase Ventures; the new round of funding includes \u201cexisting and new investors.\u201d<\/em><\/p>\n\n\n\n
The project<\/a> was founded in 2020 by Sam Altman, Alex Blania, and Max Novendstern. With over 1,697,000 sign ups already, Worldcoin aims to build \"the world\u2019s largest identity and financial network as a public utility, giving ownership to everyone, [and] to create universal access to the global economy regardless of country or background, accelerating the transition to an economic future that welcomes and benefits every person on the planet.<\/em><\/p>\n\n\n\n
In March 2022, The Information\u00a0reported<\/a>\u00a0that the firm was looking to raise $100M\u00a0from investors through a private token sale, citing two people familiar with the situation. These sources stated that \u201cit\u2019s a bear market, a crypto winter. It\u2019s remarkable for a project in this space to get this amount of investment.\u201d<\/em><\/p>\n\n\n\n
Worldcoin Verification, Adoption, And Account Abstraction<\/h2>\n\n\n\nWorldcoin launched a gas-free crypto wallet in early May of 2023 called World App. This wallet relies on a system called World ID which uses zero-knowledge proofs to verify that you're a real human with either a phone number or iris scan. The gasless transactions rely upon account abstraction<\/a>, a popular protocol on Ethereum, under ERC-4337<\/a>.<\/p>\n\n\n\n
World App is also integrated with Uniswap, so users can swap currencies in the wallet.<\/p>\n\n\n\n
Worldcoin has been in its beta for some time now; within \"the next six weeks\" the blockchain protocol is expected to launch and with that, transactions will begin being recorded.<\/p>\n","post_title":"OpenAI's Sam Altman To Secure $100M For Worldcoin; Will Start Recording Transactions In 6 Weeks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openais-sam-altman-to-secure-100m-for-worldcoin-will-start-recording-transactions-in-6-weeks","to_ping":"","pinged":"","post_modified":"2023-05-15 16:06:46","post_modified_gmt":"2023-05-15 06:06:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11728","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11677,"post_author":"15","post_date":"2023-05-13 00:36:12","post_date_gmt":"2023-05-12 14:36:12","post_content":"\n
In the last 24 hours, $46.37 million worth of $PEPE has been deposited into exchanges. The meme coin has net deposits from 1,176 addresses amounting to $22.94 million. $PEPE has seen a significant drop of 31% in value, shrinking its market value to around $500 million, as reported <\/a>by ScopeProtocol.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/ScopeProtocol\/status\/1656916635134066688?s=20\n<\/div><\/figure>\n\n\n\n
$PEPE is a meme coin that has gained significant popularity in cryptocurrency. It has captured the attention of crypto enthusiasts and investors due to its unique and humorous nature.<\/p>\n\n\n\n
Despite its playful image, $PEPE has also experienced fluctuations in its market price. This volatility is characteristic of many memecoins, as trends, speculation, and the overall sentiment of the market can influence their prices.<\/p>\n\n\n\n
More On Memecoins<\/h2>\n\n\n\n
On May 11, 2023, @lookonchain<\/a>, a prominent cryptocurrency analyst, tweeted<\/a> about $PEPE and $LADYs (another meme coin). In his tweet, he praised how a cryptocurrency trader made huge profits trading meme coins. The trader bought $PEPE on Apr 18 and $LADYS before Elon Musk tweeted. In summary, his investment gained 36x on $PEPE and 35x on $LADYS. <\/p>\n\n\n\n
The meme coin phenomenon has emerged as a culture in the cryptocurrency space. We can notably refer to prominent meme coins like Dogecoin ($DOGE) and Shiba Inu ($SHIB). At the time of writing, these two cryptocurrencies ranked number 8 and number 15, respectively, according to Coinmarketcap. $DOGE and $SHIB have paved the way for other meme coins to gain traction in the crypto market.<\/p>\n","post_title":"Massive $PEPE Deposits Shake Crypto Exchanges; Market Value Plunges","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"massive-pepe-deposits-shake-crypto-exchanges-market-value-plunges","to_ping":"","pinged":"","post_modified":"2023-05-13 00:36:16","post_modified_gmt":"2023-05-12 14:36:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11677","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11401,"post_author":"13","post_date":"2023-05-02 11:29:00","post_date_gmt":"2023-05-02 01:29:00","post_content":"\n
\n
SUI farming will open for two days on BNB and TUSD pools beginning May 1.<\/li>\n\n\n\n
The token is expected to list afterward on Binance against BTC, USDT, TUSD, and BNB.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Binance has unveiled its 33rd project on Binance Luanchpoool, Sui, that allows users to farm SUI tokens using staked BNB and TrueUSD (TUSD).<\/p>\n\n\n\n
According to the announcement<\/a> on April 30, the farming of SUI tokens would run for 2 days beginning May 1. After that, the asset would be listed on Binance under trading pairs SUI\/BTC, SUI\/USDT, SUITUSD, and SUI\/BNB, subject to the relevant liquidity requirements.<\/p>\n\n\n\n
40 million SUI tokens are set for launchpool token rewards, 0.4% of the total token supply of 10 billion. So far, more than 9 million BNB tokens have been staked on the BNB pool, while the TUSD pool has more than 450 million staked TUSD.<\/p>\n\n\n\n
DPoS Layer-1 Blockchain<\/h2>\n\n\n\n
Sui<\/a> operates as a delegated proof of stake (DPoS) layer-1 blockchain<\/a> written on the Move programming language. The project has since raised $300 million in a series B funding round backed by Binance Labs and Coinbase - bringing its valuation to $2 billion.<\/p>\n\n\n\n
The project, hyped by its community of supporters as the \u2018Ethereum Killer\u2019<\/em>, uses a unique technology involving a parallel data model and execution engine to enhance transaction scaling. Besides, the blockchain employs an object-centric model for processing parallel transactions.<\/p>\n\n\n\n
The unveiling has pumped the price of Binance\u2019s native BNB token upwards despite a bearish market momentum. At press time, the token was changing hands for $333, representing a jump of 3% in the past day.<\/p>\n","post_title":"Binance Launches SUI Farming With Staked BNB And TrueUSD","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-launches-sui-farming-with-staked-bnb-and-trueusd","to_ping":"","pinged":"","post_modified":"2023-05-04 13:03:20","post_modified_gmt":"2023-05-04 03:03:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 … 10 Next

Most Read

Altcoins

Ripple Challenges SEC’s Bid For Appeal In Legal Battle

September 3, 2023

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Artificial Intelligence

Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

August 15, 2024

Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

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Follow The Distributed

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\n
In June, Binance, the leading crypto exchange, faced 13 charges from the SEC, one being the sale of unauthorized securities. The regulator sued Coinbase, the largest US cryptocurrency exchange, for security law violations. <\/p>\n\n\n\n
At the start of the year, the SEC brought charges<\/a> against Gemini and Genesis for allegedly violating the securities regulations related to crypto lending. In February, it\u00a0 fined crypto exchange Kraken<\/a>\u00a0$30 million and ordered the platform to cease offering staking services to US users.<\/p>\n","post_title":"Ripple-SEC Ruling \u2018A Win\u2019 For Crypto Industry But Regulatory War Not Over, JP Morgan Says","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-sec-ruling-a-win-for-crypto-industry-but-regulatory-war-not-over-jp-morgan-says","to_ping":"","pinged":"","post_modified":"2023-07-15 23:36:25","post_modified_gmt":"2023-07-15 13:36:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11929,"post_author":"15","post_date":"2023-06-08 22:45:46","post_date_gmt":"2023-06-08 12:45:46","post_content":"\n
Arbitrum, a layer 2 blockchain, halts the process of transactions due to funding issues. With over $2.24 billion in deposits, the network experiences an hour-long standstill due to gas shortage. <\/p>\n\n\n\n
Developers on the Arbitrum Discord server<\/a> faced connectivity issues with the network's sequencer. The software is responsible for bundling and confirming transactions on the Ethereum network.<\/p>\n\n\n\n
According to on-chain records<\/a>, the sequencer exhausted its supply of Ether, the native cryptocurrency of Ethereum used for transaction fees<\/a>. Without sufficient Ether to cover the fees, the sequencer could not process transactions on Ethereum, resulting in Arbitrum coming to a halt.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
What's Next to Arbitrum?<\/h2>\n\n\n\n
Following an hour-long period of transaction processing failure, Arbitrum has resumed its operations. A wallet that had previously transferred funds to the Arbitrum multi-signature wallet sent 1.4 Ether to the sequence. This replenishment enabled the sequencer to resume sending transactions to Ethereum.<\/p>\n\n\n\n
The cause behind the depletion of gas in Arbitrum's sequencer remains uncertain. Since its launch in May 2021, the sequencer has only been manually refuelled with Ether on four occasions.<\/p>\n\n\n\n
The recent event highlights the reliance of Arbitrum on a centralized control point. Offchain Labs, the company behind Arbitrum, has expressed its plans to decentralize the network's sequencer. <\/p>\n","post_title":"Arbitrum Faces Temporary Shutdown Due To Gas Shortage","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"arbitrum-faces-temporary-shutdown-due-to-gas-shortage","to_ping":"","pinged":"","post_modified":"2023-06-08 22:45:55","post_modified_gmt":"2023-06-08 12:45:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11929","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11770,"post_author":"13","post_date":"2023-05-18 00:31:26","post_date_gmt":"2023-05-17 14:31:26","post_content":"\n
\n
Judge Analisa Torres has declined a motion by the commission to seal essential documents in the legal tussle.  <\/li>\n\n\n\n
The price of the native XRP token has surged following the ruling.<\/li>\n<\/ul>\n\n\n\n
A US judge presiding over the case between Ripple and the Securities and Exchange Commission (SEC) has rejected a motion filed by the regulator to seal some of the essential documents.<\/p>\n\n\n\n
Judge Analisa Torres of the US District Court has disagreed<\/a> with SEC\u2019s move to seal Hinman\u2019s Speech documents, comprising emails, text messages, and expert reports, saying they were \u2018judicial documents\u2019 subject to a strong presumption of public access.<\/p>\n\n\n\n
As a recap, the SEC is suing<\/a> Ripple for selling unregistered securities. At the centre of the legal matter is a controversial speech by the former finance division director at the commission, William Hinman, who stated that Ether, the native cryptocurrency to the Ethereum blockchain, was not a security. The statement is believed to influence the much-awaited summary judgment considerably.<\/p>\n\n\n\n
The SEC\u2019s Position On The Matter<\/h2>\n\n\n\n
On December 22, the SEC filed a motion before Judge Torres to have all the documents containing Hinman\u2019s speech sealed from the public, saying they were irrelevant to the court\u2019s summary judgment. Further, the commission added that having the documents sealed preserved \u2018openness and candour\u2019, which the court has also rejected.<\/p>\n\n\n\n
\u2018\u2018Regardless of whether the court ultimately determines that the Hinman Speech Documents are admissible, or whether the court relies on the documents in ruling on the summary judgment motions, they are judicial documents subject to a strong presumption of public access because they are \u2018relevant to the performance of the judicial function and useful in the judicial process,'\" <\/em>read the ruling.<\/p>\n\n\n\n
XRP has added more than 5% in the past 24 hours following the development and was trading at $0.4487 at the time of writing. <\/p>\n","post_title":"Ripple Scores Major Victory In Case With The SEC As Court Denies Motion Filed By The Regulator","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-scores-major-victory-in-case-with-the-sec-as-court-denies-motion-filed-by-the-regulator","to_ping":"","pinged":"","post_modified":"2023-05-18 00:31:29","post_modified_gmt":"2023-05-17 14:31:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11770","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11728,"post_author":"12","post_date":"2023-05-15 16:06:43","post_date_gmt":"2023-05-15 06:06:43","post_content":"\n
A recent report<\/a> from Financial Times found that Worldcoin, a cryptocurrency project launched by OpenAI CEO Sam Altman, is close to securing $100M in funding. Those already backing the project include; a16z, Digital Currency Group and Coinbase Ventures; the new round of funding includes \u201cexisting and new investors.\u201d<\/em><\/p>\n\n\n\n
The project<\/a> was founded in 2020 by Sam Altman, Alex Blania, and Max Novendstern. With over 1,697,000 sign ups already, Worldcoin aims to build \"the world\u2019s largest identity and financial network as a public utility, giving ownership to everyone, [and] to create universal access to the global economy regardless of country or background, accelerating the transition to an economic future that welcomes and benefits every person on the planet.<\/em><\/p>\n\n\n\n
In March 2022, The Information\u00a0reported<\/a>\u00a0that the firm was looking to raise $100M\u00a0from investors through a private token sale, citing two people familiar with the situation. These sources stated that \u201cit\u2019s a bear market, a crypto winter. It\u2019s remarkable for a project in this space to get this amount of investment.\u201d<\/em><\/p>\n\n\n\n
Worldcoin Verification, Adoption, And Account Abstraction<\/h2>\n\n\n\nWorldcoin launched a gas-free crypto wallet in early May of 2023 called World App. This wallet relies on a system called World ID which uses zero-knowledge proofs to verify that you're a real human with either a phone number or iris scan. The gasless transactions rely upon account abstraction<\/a>, a popular protocol on Ethereum, under ERC-4337<\/a>.<\/p>\n\n\n\n
World App is also integrated with Uniswap, so users can swap currencies in the wallet.<\/p>\n\n\n\n
Worldcoin has been in its beta for some time now; within \"the next six weeks\" the blockchain protocol is expected to launch and with that, transactions will begin being recorded.<\/p>\n","post_title":"OpenAI's Sam Altman To Secure $100M For Worldcoin; Will Start Recording Transactions In 6 Weeks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openais-sam-altman-to-secure-100m-for-worldcoin-will-start-recording-transactions-in-6-weeks","to_ping":"","pinged":"","post_modified":"2023-05-15 16:06:46","post_modified_gmt":"2023-05-15 06:06:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11728","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11677,"post_author":"15","post_date":"2023-05-13 00:36:12","post_date_gmt":"2023-05-12 14:36:12","post_content":"\n
In the last 24 hours, $46.37 million worth of $PEPE has been deposited into exchanges. The meme coin has net deposits from 1,176 addresses amounting to $22.94 million. $PEPE has seen a significant drop of 31% in value, shrinking its market value to around $500 million, as reported <\/a>by ScopeProtocol.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/ScopeProtocol\/status\/1656916635134066688?s=20\n<\/div><\/figure>\n\n\n\n
$PEPE is a meme coin that has gained significant popularity in cryptocurrency. It has captured the attention of crypto enthusiasts and investors due to its unique and humorous nature.<\/p>\n\n\n\n
Despite its playful image, $PEPE has also experienced fluctuations in its market price. This volatility is characteristic of many memecoins, as trends, speculation, and the overall sentiment of the market can influence their prices.<\/p>\n\n\n\n
More On Memecoins<\/h2>\n\n\n\n
On May 11, 2023, @lookonchain<\/a>, a prominent cryptocurrency analyst, tweeted<\/a> about $PEPE and $LADYs (another meme coin). In his tweet, he praised how a cryptocurrency trader made huge profits trading meme coins. The trader bought $PEPE on Apr 18 and $LADYS before Elon Musk tweeted. In summary, his investment gained 36x on $PEPE and 35x on $LADYS. <\/p>\n\n\n\n
The meme coin phenomenon has emerged as a culture in the cryptocurrency space. We can notably refer to prominent meme coins like Dogecoin ($DOGE) and Shiba Inu ($SHIB). At the time of writing, these two cryptocurrencies ranked number 8 and number 15, respectively, according to Coinmarketcap. $DOGE and $SHIB have paved the way for other meme coins to gain traction in the crypto market.<\/p>\n","post_title":"Massive $PEPE Deposits Shake Crypto Exchanges; Market Value Plunges","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"massive-pepe-deposits-shake-crypto-exchanges-market-value-plunges","to_ping":"","pinged":"","post_modified":"2023-05-13 00:36:16","post_modified_gmt":"2023-05-12 14:36:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11677","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11401,"post_author":"13","post_date":"2023-05-02 11:29:00","post_date_gmt":"2023-05-02 01:29:00","post_content":"\n
\n
SUI farming will open for two days on BNB and TUSD pools beginning May 1.<\/li>\n\n\n\n
The token is expected to list afterward on Binance against BTC, USDT, TUSD, and BNB.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Binance has unveiled its 33rd project on Binance Luanchpoool, Sui, that allows users to farm SUI tokens using staked BNB and TrueUSD (TUSD).<\/p>\n\n\n\n
According to the announcement<\/a> on April 30, the farming of SUI tokens would run for 2 days beginning May 1. After that, the asset would be listed on Binance under trading pairs SUI\/BTC, SUI\/USDT, SUITUSD, and SUI\/BNB, subject to the relevant liquidity requirements.<\/p>\n\n\n\n
40 million SUI tokens are set for launchpool token rewards, 0.4% of the total token supply of 10 billion. So far, more than 9 million BNB tokens have been staked on the BNB pool, while the TUSD pool has more than 450 million staked TUSD.<\/p>\n\n\n\n
DPoS Layer-1 Blockchain<\/h2>\n\n\n\n
Sui<\/a> operates as a delegated proof of stake (DPoS) layer-1 blockchain<\/a> written on the Move programming language. The project has since raised $300 million in a series B funding round backed by Binance Labs and Coinbase - bringing its valuation to $2 billion.<\/p>\n\n\n\n
The project, hyped by its community of supporters as the \u2018Ethereum Killer\u2019<\/em>, uses a unique technology involving a parallel data model and execution engine to enhance transaction scaling. Besides, the blockchain employs an object-centric model for processing parallel transactions.<\/p>\n\n\n\n
The unveiling has pumped the price of Binance\u2019s native BNB token upwards despite a bearish market momentum. At press time, the token was changing hands for $333, representing a jump of 3% in the past day.<\/p>\n","post_title":"Binance Launches SUI Farming With Staked BNB And TrueUSD","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-launches-sui-farming-with-staked-bnb-and-trueusd","to_ping":"","pinged":"","post_modified":"2023-05-04 13:03:20","post_modified_gmt":"2023-05-04 03:03:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 … 10 Next

Most Read

Altcoins

Ripple Challenges SEC’s Bid For Appeal In Legal Battle

September 3, 2023

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Artificial Intelligence

Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

August 15, 2024

Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
However, according to JPMorgan, the ruling may not be the end of what has come to be termed as regulations by enforcement by the SEC, as the regulator could appeal the case or bring similar charges against other cryptocurrency companies.<\/p>\n\n\n\n
In June, Binance, the leading crypto exchange, faced 13 charges from the SEC, one being the sale of unauthorized securities. The regulator sued Coinbase, the largest US cryptocurrency exchange, for security law violations. <\/p>\n\n\n\n
At the start of the year, the SEC brought charges<\/a> against Gemini and Genesis for allegedly violating the securities regulations related to crypto lending. In February, it\u00a0 fined crypto exchange Kraken<\/a>\u00a0$30 million and ordered the platform to cease offering staking services to US users.<\/p>\n","post_title":"Ripple-SEC Ruling \u2018A Win\u2019 For Crypto Industry But Regulatory War Not Over, JP Morgan Says","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-sec-ruling-a-win-for-crypto-industry-but-regulatory-war-not-over-jp-morgan-says","to_ping":"","pinged":"","post_modified":"2023-07-15 23:36:25","post_modified_gmt":"2023-07-15 13:36:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11929,"post_author":"15","post_date":"2023-06-08 22:45:46","post_date_gmt":"2023-06-08 12:45:46","post_content":"\n
Arbitrum, a layer 2 blockchain, halts the process of transactions due to funding issues. With over $2.24 billion in deposits, the network experiences an hour-long standstill due to gas shortage. <\/p>\n\n\n\n
Developers on the Arbitrum Discord server<\/a> faced connectivity issues with the network's sequencer. The software is responsible for bundling and confirming transactions on the Ethereum network.<\/p>\n\n\n\n
According to on-chain records<\/a>, the sequencer exhausted its supply of Ether, the native cryptocurrency of Ethereum used for transaction fees<\/a>. Without sufficient Ether to cover the fees, the sequencer could not process transactions on Ethereum, resulting in Arbitrum coming to a halt.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
What's Next to Arbitrum?<\/h2>\n\n\n\n
Following an hour-long period of transaction processing failure, Arbitrum has resumed its operations. A wallet that had previously transferred funds to the Arbitrum multi-signature wallet sent 1.4 Ether to the sequence. This replenishment enabled the sequencer to resume sending transactions to Ethereum.<\/p>\n\n\n\n
The cause behind the depletion of gas in Arbitrum's sequencer remains uncertain. Since its launch in May 2021, the sequencer has only been manually refuelled with Ether on four occasions.<\/p>\n\n\n\n
The recent event highlights the reliance of Arbitrum on a centralized control point. Offchain Labs, the company behind Arbitrum, has expressed its plans to decentralize the network's sequencer. <\/p>\n","post_title":"Arbitrum Faces Temporary Shutdown Due To Gas Shortage","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"arbitrum-faces-temporary-shutdown-due-to-gas-shortage","to_ping":"","pinged":"","post_modified":"2023-06-08 22:45:55","post_modified_gmt":"2023-06-08 12:45:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11929","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11770,"post_author":"13","post_date":"2023-05-18 00:31:26","post_date_gmt":"2023-05-17 14:31:26","post_content":"\n
\n
Judge Analisa Torres has declined a motion by the commission to seal essential documents in the legal tussle.  <\/li>\n\n\n\n
The price of the native XRP token has surged following the ruling.<\/li>\n<\/ul>\n\n\n\n
A US judge presiding over the case between Ripple and the Securities and Exchange Commission (SEC) has rejected a motion filed by the regulator to seal some of the essential documents.<\/p>\n\n\n\n
Judge Analisa Torres of the US District Court has disagreed<\/a> with SEC\u2019s move to seal Hinman\u2019s Speech documents, comprising emails, text messages, and expert reports, saying they were \u2018judicial documents\u2019 subject to a strong presumption of public access.<\/p>\n\n\n\n
As a recap, the SEC is suing<\/a> Ripple for selling unregistered securities. At the centre of the legal matter is a controversial speech by the former finance division director at the commission, William Hinman, who stated that Ether, the native cryptocurrency to the Ethereum blockchain, was not a security. The statement is believed to influence the much-awaited summary judgment considerably.<\/p>\n\n\n\n
The SEC\u2019s Position On The Matter<\/h2>\n\n\n\n
On December 22, the SEC filed a motion before Judge Torres to have all the documents containing Hinman\u2019s speech sealed from the public, saying they were irrelevant to the court\u2019s summary judgment. Further, the commission added that having the documents sealed preserved \u2018openness and candour\u2019, which the court has also rejected.<\/p>\n\n\n\n
\u2018\u2018Regardless of whether the court ultimately determines that the Hinman Speech Documents are admissible, or whether the court relies on the documents in ruling on the summary judgment motions, they are judicial documents subject to a strong presumption of public access because they are \u2018relevant to the performance of the judicial function and useful in the judicial process,'\" <\/em>read the ruling.<\/p>\n\n\n\n
XRP has added more than 5% in the past 24 hours following the development and was trading at $0.4487 at the time of writing. <\/p>\n","post_title":"Ripple Scores Major Victory In Case With The SEC As Court Denies Motion Filed By The Regulator","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-scores-major-victory-in-case-with-the-sec-as-court-denies-motion-filed-by-the-regulator","to_ping":"","pinged":"","post_modified":"2023-05-18 00:31:29","post_modified_gmt":"2023-05-17 14:31:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11770","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11728,"post_author":"12","post_date":"2023-05-15 16:06:43","post_date_gmt":"2023-05-15 06:06:43","post_content":"\n
A recent report<\/a> from Financial Times found that Worldcoin, a cryptocurrency project launched by OpenAI CEO Sam Altman, is close to securing $100M in funding. Those already backing the project include; a16z, Digital Currency Group and Coinbase Ventures; the new round of funding includes \u201cexisting and new investors.\u201d<\/em><\/p>\n\n\n\n
The project<\/a> was founded in 2020 by Sam Altman, Alex Blania, and Max Novendstern. With over 1,697,000 sign ups already, Worldcoin aims to build \"the world\u2019s largest identity and financial network as a public utility, giving ownership to everyone, [and] to create universal access to the global economy regardless of country or background, accelerating the transition to an economic future that welcomes and benefits every person on the planet.<\/em><\/p>\n\n\n\n
In March 2022, The Information\u00a0reported<\/a>\u00a0that the firm was looking to raise $100M\u00a0from investors through a private token sale, citing two people familiar with the situation. These sources stated that \u201cit\u2019s a bear market, a crypto winter. It\u2019s remarkable for a project in this space to get this amount of investment.\u201d<\/em><\/p>\n\n\n\n
Worldcoin Verification, Adoption, And Account Abstraction<\/h2>\n\n\n\nWorldcoin launched a gas-free crypto wallet in early May of 2023 called World App. This wallet relies on a system called World ID which uses zero-knowledge proofs to verify that you're a real human with either a phone number or iris scan. The gasless transactions rely upon account abstraction<\/a>, a popular protocol on Ethereum, under ERC-4337<\/a>.<\/p>\n\n\n\n
World App is also integrated with Uniswap, so users can swap currencies in the wallet.<\/p>\n\n\n\n
Worldcoin has been in its beta for some time now; within \"the next six weeks\" the blockchain protocol is expected to launch and with that, transactions will begin being recorded.<\/p>\n","post_title":"OpenAI's Sam Altman To Secure $100M For Worldcoin; Will Start Recording Transactions In 6 Weeks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openais-sam-altman-to-secure-100m-for-worldcoin-will-start-recording-transactions-in-6-weeks","to_ping":"","pinged":"","post_modified":"2023-05-15 16:06:46","post_modified_gmt":"2023-05-15 06:06:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11728","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11677,"post_author":"15","post_date":"2023-05-13 00:36:12","post_date_gmt":"2023-05-12 14:36:12","post_content":"\n
In the last 24 hours, $46.37 million worth of $PEPE has been deposited into exchanges. The meme coin has net deposits from 1,176 addresses amounting to $22.94 million. $PEPE has seen a significant drop of 31% in value, shrinking its market value to around $500 million, as reported <\/a>by ScopeProtocol.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/ScopeProtocol\/status\/1656916635134066688?s=20\n<\/div><\/figure>\n\n\n\n
$PEPE is a meme coin that has gained significant popularity in cryptocurrency. It has captured the attention of crypto enthusiasts and investors due to its unique and humorous nature.<\/p>\n\n\n\n
Despite its playful image, $PEPE has also experienced fluctuations in its market price. This volatility is characteristic of many memecoins, as trends, speculation, and the overall sentiment of the market can influence their prices.<\/p>\n\n\n\n
More On Memecoins<\/h2>\n\n\n\n
On May 11, 2023, @lookonchain<\/a>, a prominent cryptocurrency analyst, tweeted<\/a> about $PEPE and $LADYs (another meme coin). In his tweet, he praised how a cryptocurrency trader made huge profits trading meme coins. The trader bought $PEPE on Apr 18 and $LADYS before Elon Musk tweeted. In summary, his investment gained 36x on $PEPE and 35x on $LADYS. <\/p>\n\n\n\n
The meme coin phenomenon has emerged as a culture in the cryptocurrency space. We can notably refer to prominent meme coins like Dogecoin ($DOGE) and Shiba Inu ($SHIB). At the time of writing, these two cryptocurrencies ranked number 8 and number 15, respectively, according to Coinmarketcap. $DOGE and $SHIB have paved the way for other meme coins to gain traction in the crypto market.<\/p>\n","post_title":"Massive $PEPE Deposits Shake Crypto Exchanges; Market Value Plunges","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"massive-pepe-deposits-shake-crypto-exchanges-market-value-plunges","to_ping":"","pinged":"","post_modified":"2023-05-13 00:36:16","post_modified_gmt":"2023-05-12 14:36:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11677","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11401,"post_author":"13","post_date":"2023-05-02 11:29:00","post_date_gmt":"2023-05-02 01:29:00","post_content":"\n
\n
SUI farming will open for two days on BNB and TUSD pools beginning May 1.<\/li>\n\n\n\n
The token is expected to list afterward on Binance against BTC, USDT, TUSD, and BNB.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Binance has unveiled its 33rd project on Binance Luanchpoool, Sui, that allows users to farm SUI tokens using staked BNB and TrueUSD (TUSD).<\/p>\n\n\n\n
According to the announcement<\/a> on April 30, the farming of SUI tokens would run for 2 days beginning May 1. After that, the asset would be listed on Binance under trading pairs SUI\/BTC, SUI\/USDT, SUITUSD, and SUI\/BNB, subject to the relevant liquidity requirements.<\/p>\n\n\n\n
40 million SUI tokens are set for launchpool token rewards, 0.4% of the total token supply of 10 billion. So far, more than 9 million BNB tokens have been staked on the BNB pool, while the TUSD pool has more than 450 million staked TUSD.<\/p>\n\n\n\n
DPoS Layer-1 Blockchain<\/h2>\n\n\n\n
Sui<\/a> operates as a delegated proof of stake (DPoS) layer-1 blockchain<\/a> written on the Move programming language. The project has since raised $300 million in a series B funding round backed by Binance Labs and Coinbase - bringing its valuation to $2 billion.<\/p>\n\n\n\n
The project, hyped by its community of supporters as the \u2018Ethereum Killer\u2019<\/em>, uses a unique technology involving a parallel data model and execution engine to enhance transaction scaling. Besides, the blockchain employs an object-centric model for processing parallel transactions.<\/p>\n\n\n\n
The unveiling has pumped the price of Binance\u2019s native BNB token upwards despite a bearish market momentum. At press time, the token was changing hands for $333, representing a jump of 3% in the past day.<\/p>\n","post_title":"Binance Launches SUI Farming With Staked BNB And TrueUSD","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-launches-sui-farming-with-staked-bnb-and-trueusd","to_ping":"","pinged":"","post_modified":"2023-05-04 13:03:20","post_modified_gmt":"2023-05-04 03:03:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 … 10 Next

Most Read

Altcoins

Ripple Challenges SEC’s Bid For Appeal In Legal Battle

September 3, 2023

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

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August 15, 2024

Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

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Follow The Distributed

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\n
SEC's Next Step<\/h2>\n\n\n\n
However, according to JPMorgan, the ruling may not be the end of what has come to be termed as regulations by enforcement by the SEC, as the regulator could appeal the case or bring similar charges against other cryptocurrency companies.<\/p>\n\n\n\n
In June, Binance, the leading crypto exchange, faced 13 charges from the SEC, one being the sale of unauthorized securities. The regulator sued Coinbase, the largest US cryptocurrency exchange, for security law violations. <\/p>\n\n\n\n
At the start of the year, the SEC brought charges<\/a> against Gemini and Genesis for allegedly violating the securities regulations related to crypto lending. In February, it\u00a0 fined crypto exchange Kraken<\/a>\u00a0$30 million and ordered the platform to cease offering staking services to US users.<\/p>\n","post_title":"Ripple-SEC Ruling \u2018A Win\u2019 For Crypto Industry But Regulatory War Not Over, JP Morgan Says","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-sec-ruling-a-win-for-crypto-industry-but-regulatory-war-not-over-jp-morgan-says","to_ping":"","pinged":"","post_modified":"2023-07-15 23:36:25","post_modified_gmt":"2023-07-15 13:36:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11929,"post_author":"15","post_date":"2023-06-08 22:45:46","post_date_gmt":"2023-06-08 12:45:46","post_content":"\n
Arbitrum, a layer 2 blockchain, halts the process of transactions due to funding issues. With over $2.24 billion in deposits, the network experiences an hour-long standstill due to gas shortage. <\/p>\n\n\n\n
Developers on the Arbitrum Discord server<\/a> faced connectivity issues with the network's sequencer. The software is responsible for bundling and confirming transactions on the Ethereum network.<\/p>\n\n\n\n
According to on-chain records<\/a>, the sequencer exhausted its supply of Ether, the native cryptocurrency of Ethereum used for transaction fees<\/a>. Without sufficient Ether to cover the fees, the sequencer could not process transactions on Ethereum, resulting in Arbitrum coming to a halt.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
What's Next to Arbitrum?<\/h2>\n\n\n\n
Following an hour-long period of transaction processing failure, Arbitrum has resumed its operations. A wallet that had previously transferred funds to the Arbitrum multi-signature wallet sent 1.4 Ether to the sequence. This replenishment enabled the sequencer to resume sending transactions to Ethereum.<\/p>\n\n\n\n
The cause behind the depletion of gas in Arbitrum's sequencer remains uncertain. Since its launch in May 2021, the sequencer has only been manually refuelled with Ether on four occasions.<\/p>\n\n\n\n
The recent event highlights the reliance of Arbitrum on a centralized control point. Offchain Labs, the company behind Arbitrum, has expressed its plans to decentralize the network's sequencer. <\/p>\n","post_title":"Arbitrum Faces Temporary Shutdown Due To Gas Shortage","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"arbitrum-faces-temporary-shutdown-due-to-gas-shortage","to_ping":"","pinged":"","post_modified":"2023-06-08 22:45:55","post_modified_gmt":"2023-06-08 12:45:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11929","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11770,"post_author":"13","post_date":"2023-05-18 00:31:26","post_date_gmt":"2023-05-17 14:31:26","post_content":"\n
\n
Judge Analisa Torres has declined a motion by the commission to seal essential documents in the legal tussle.  <\/li>\n\n\n\n
The price of the native XRP token has surged following the ruling.<\/li>\n<\/ul>\n\n\n\n
A US judge presiding over the case between Ripple and the Securities and Exchange Commission (SEC) has rejected a motion filed by the regulator to seal some of the essential documents.<\/p>\n\n\n\n
Judge Analisa Torres of the US District Court has disagreed<\/a> with SEC\u2019s move to seal Hinman\u2019s Speech documents, comprising emails, text messages, and expert reports, saying they were \u2018judicial documents\u2019 subject to a strong presumption of public access.<\/p>\n\n\n\n
As a recap, the SEC is suing<\/a> Ripple for selling unregistered securities. At the centre of the legal matter is a controversial speech by the former finance division director at the commission, William Hinman, who stated that Ether, the native cryptocurrency to the Ethereum blockchain, was not a security. The statement is believed to influence the much-awaited summary judgment considerably.<\/p>\n\n\n\n
The SEC\u2019s Position On The Matter<\/h2>\n\n\n\n
On December 22, the SEC filed a motion before Judge Torres to have all the documents containing Hinman\u2019s speech sealed from the public, saying they were irrelevant to the court\u2019s summary judgment. Further, the commission added that having the documents sealed preserved \u2018openness and candour\u2019, which the court has also rejected.<\/p>\n\n\n\n
\u2018\u2018Regardless of whether the court ultimately determines that the Hinman Speech Documents are admissible, or whether the court relies on the documents in ruling on the summary judgment motions, they are judicial documents subject to a strong presumption of public access because they are \u2018relevant to the performance of the judicial function and useful in the judicial process,'\" <\/em>read the ruling.<\/p>\n\n\n\n
XRP has added more than 5% in the past 24 hours following the development and was trading at $0.4487 at the time of writing. <\/p>\n","post_title":"Ripple Scores Major Victory In Case With The SEC As Court Denies Motion Filed By The Regulator","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-scores-major-victory-in-case-with-the-sec-as-court-denies-motion-filed-by-the-regulator","to_ping":"","pinged":"","post_modified":"2023-05-18 00:31:29","post_modified_gmt":"2023-05-17 14:31:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11770","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11728,"post_author":"12","post_date":"2023-05-15 16:06:43","post_date_gmt":"2023-05-15 06:06:43","post_content":"\n
A recent report<\/a> from Financial Times found that Worldcoin, a cryptocurrency project launched by OpenAI CEO Sam Altman, is close to securing $100M in funding. Those already backing the project include; a16z, Digital Currency Group and Coinbase Ventures; the new round of funding includes \u201cexisting and new investors.\u201d<\/em><\/p>\n\n\n\n
The project<\/a> was founded in 2020 by Sam Altman, Alex Blania, and Max Novendstern. With over 1,697,000 sign ups already, Worldcoin aims to build \"the world\u2019s largest identity and financial network as a public utility, giving ownership to everyone, [and] to create universal access to the global economy regardless of country or background, accelerating the transition to an economic future that welcomes and benefits every person on the planet.<\/em><\/p>\n\n\n\n
In March 2022, The Information\u00a0reported<\/a>\u00a0that the firm was looking to raise $100M\u00a0from investors through a private token sale, citing two people familiar with the situation. These sources stated that \u201cit\u2019s a bear market, a crypto winter. It\u2019s remarkable for a project in this space to get this amount of investment.\u201d<\/em><\/p>\n\n\n\n
Worldcoin Verification, Adoption, And Account Abstraction<\/h2>\n\n\n\nWorldcoin launched a gas-free crypto wallet in early May of 2023 called World App. This wallet relies on a system called World ID which uses zero-knowledge proofs to verify that you're a real human with either a phone number or iris scan. The gasless transactions rely upon account abstraction<\/a>, a popular protocol on Ethereum, under ERC-4337<\/a>.<\/p>\n\n\n\n
World App is also integrated with Uniswap, so users can swap currencies in the wallet.<\/p>\n\n\n\n
Worldcoin has been in its beta for some time now; within \"the next six weeks\" the blockchain protocol is expected to launch and with that, transactions will begin being recorded.<\/p>\n","post_title":"OpenAI's Sam Altman To Secure $100M For Worldcoin; Will Start Recording Transactions In 6 Weeks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openais-sam-altman-to-secure-100m-for-worldcoin-will-start-recording-transactions-in-6-weeks","to_ping":"","pinged":"","post_modified":"2023-05-15 16:06:46","post_modified_gmt":"2023-05-15 06:06:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11728","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11677,"post_author":"15","post_date":"2023-05-13 00:36:12","post_date_gmt":"2023-05-12 14:36:12","post_content":"\n
In the last 24 hours, $46.37 million worth of $PEPE has been deposited into exchanges. The meme coin has net deposits from 1,176 addresses amounting to $22.94 million. $PEPE has seen a significant drop of 31% in value, shrinking its market value to around $500 million, as reported <\/a>by ScopeProtocol.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/ScopeProtocol\/status\/1656916635134066688?s=20\n<\/div><\/figure>\n\n\n\n
$PEPE is a meme coin that has gained significant popularity in cryptocurrency. It has captured the attention of crypto enthusiasts and investors due to its unique and humorous nature.<\/p>\n\n\n\n
Despite its playful image, $PEPE has also experienced fluctuations in its market price. This volatility is characteristic of many memecoins, as trends, speculation, and the overall sentiment of the market can influence their prices.<\/p>\n\n\n\n
More On Memecoins<\/h2>\n\n\n\n
On May 11, 2023, @lookonchain<\/a>, a prominent cryptocurrency analyst, tweeted<\/a> about $PEPE and $LADYs (another meme coin). In his tweet, he praised how a cryptocurrency trader made huge profits trading meme coins. The trader bought $PEPE on Apr 18 and $LADYS before Elon Musk tweeted. In summary, his investment gained 36x on $PEPE and 35x on $LADYS. <\/p>\n\n\n\n
The meme coin phenomenon has emerged as a culture in the cryptocurrency space. We can notably refer to prominent meme coins like Dogecoin ($DOGE) and Shiba Inu ($SHIB). At the time of writing, these two cryptocurrencies ranked number 8 and number 15, respectively, according to Coinmarketcap. $DOGE and $SHIB have paved the way for other meme coins to gain traction in the crypto market.<\/p>\n","post_title":"Massive $PEPE Deposits Shake Crypto Exchanges; Market Value Plunges","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"massive-pepe-deposits-shake-crypto-exchanges-market-value-plunges","to_ping":"","pinged":"","post_modified":"2023-05-13 00:36:16","post_modified_gmt":"2023-05-12 14:36:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11677","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11401,"post_author":"13","post_date":"2023-05-02 11:29:00","post_date_gmt":"2023-05-02 01:29:00","post_content":"\n
\n
SUI farming will open for two days on BNB and TUSD pools beginning May 1.<\/li>\n\n\n\n
The token is expected to list afterward on Binance against BTC, USDT, TUSD, and BNB.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Binance has unveiled its 33rd project on Binance Luanchpoool, Sui, that allows users to farm SUI tokens using staked BNB and TrueUSD (TUSD).<\/p>\n\n\n\n
According to the announcement<\/a> on April 30, the farming of SUI tokens would run for 2 days beginning May 1. After that, the asset would be listed on Binance under trading pairs SUI\/BTC, SUI\/USDT, SUITUSD, and SUI\/BNB, subject to the relevant liquidity requirements.<\/p>\n\n\n\n
40 million SUI tokens are set for launchpool token rewards, 0.4% of the total token supply of 10 billion. So far, more than 9 million BNB tokens have been staked on the BNB pool, while the TUSD pool has more than 450 million staked TUSD.<\/p>\n\n\n\n
DPoS Layer-1 Blockchain<\/h2>\n\n\n\n
Sui<\/a> operates as a delegated proof of stake (DPoS) layer-1 blockchain<\/a> written on the Move programming language. The project has since raised $300 million in a series B funding round backed by Binance Labs and Coinbase - bringing its valuation to $2 billion.<\/p>\n\n\n\n
The project, hyped by its community of supporters as the \u2018Ethereum Killer\u2019<\/em>, uses a unique technology involving a parallel data model and execution engine to enhance transaction scaling. Besides, the blockchain employs an object-centric model for processing parallel transactions.<\/p>\n\n\n\n
The unveiling has pumped the price of Binance\u2019s native BNB token upwards despite a bearish market momentum. At press time, the token was changing hands for $333, representing a jump of 3% in the past day.<\/p>\n","post_title":"Binance Launches SUI Farming With Staked BNB And TrueUSD","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-launches-sui-farming-with-staked-bnb-and-trueusd","to_ping":"","pinged":"","post_modified":"2023-05-04 13:03:20","post_modified_gmt":"2023-05-04 03:03:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 … 10 Next

Most Read

Altcoins

Ripple Challenges SEC’s Bid For Appeal In Legal Battle

September 3, 2023

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Artificial Intelligence

Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

August 15, 2024

Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
Following the landmark ruling, the price of cryptocurrencies soared as sentiment changed in the digital asset space. The cost of XRP rose by about 70%, while Bitcoin reached its highest level in more than a year.<\/p>\n\n\n\n
SEC's Next Step<\/h2>\n\n\n\n
However, according to JPMorgan, the ruling may not be the end of what has come to be termed as regulations by enforcement by the SEC, as the regulator could appeal the case or bring similar charges against other cryptocurrency companies.<\/p>\n\n\n\n
In June, Binance, the leading crypto exchange, faced 13 charges from the SEC, one being the sale of unauthorized securities. The regulator sued Coinbase, the largest US cryptocurrency exchange, for security law violations. <\/p>\n\n\n\n
At the start of the year, the SEC brought charges<\/a> against Gemini and Genesis for allegedly violating the securities regulations related to crypto lending. In February, it\u00a0 fined crypto exchange Kraken<\/a>\u00a0$30 million and ordered the platform to cease offering staking services to US users.<\/p>\n","post_title":"Ripple-SEC Ruling \u2018A Win\u2019 For Crypto Industry But Regulatory War Not Over, JP Morgan Says","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-sec-ruling-a-win-for-crypto-industry-but-regulatory-war-not-over-jp-morgan-says","to_ping":"","pinged":"","post_modified":"2023-07-15 23:36:25","post_modified_gmt":"2023-07-15 13:36:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11929,"post_author":"15","post_date":"2023-06-08 22:45:46","post_date_gmt":"2023-06-08 12:45:46","post_content":"\n
Arbitrum, a layer 2 blockchain, halts the process of transactions due to funding issues. With over $2.24 billion in deposits, the network experiences an hour-long standstill due to gas shortage. <\/p>\n\n\n\n
Developers on the Arbitrum Discord server<\/a> faced connectivity issues with the network's sequencer. The software is responsible for bundling and confirming transactions on the Ethereum network.<\/p>\n\n\n\n
According to on-chain records<\/a>, the sequencer exhausted its supply of Ether, the native cryptocurrency of Ethereum used for transaction fees<\/a>. Without sufficient Ether to cover the fees, the sequencer could not process transactions on Ethereum, resulting in Arbitrum coming to a halt.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
What's Next to Arbitrum?<\/h2>\n\n\n\n
Following an hour-long period of transaction processing failure, Arbitrum has resumed its operations. A wallet that had previously transferred funds to the Arbitrum multi-signature wallet sent 1.4 Ether to the sequence. This replenishment enabled the sequencer to resume sending transactions to Ethereum.<\/p>\n\n\n\n
The cause behind the depletion of gas in Arbitrum's sequencer remains uncertain. Since its launch in May 2021, the sequencer has only been manually refuelled with Ether on four occasions.<\/p>\n\n\n\n
The recent event highlights the reliance of Arbitrum on a centralized control point. Offchain Labs, the company behind Arbitrum, has expressed its plans to decentralize the network's sequencer. <\/p>\n","post_title":"Arbitrum Faces Temporary Shutdown Due To Gas Shortage","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"arbitrum-faces-temporary-shutdown-due-to-gas-shortage","to_ping":"","pinged":"","post_modified":"2023-06-08 22:45:55","post_modified_gmt":"2023-06-08 12:45:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11929","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11770,"post_author":"13","post_date":"2023-05-18 00:31:26","post_date_gmt":"2023-05-17 14:31:26","post_content":"\n
\n
Judge Analisa Torres has declined a motion by the commission to seal essential documents in the legal tussle.  <\/li>\n\n\n\n
The price of the native XRP token has surged following the ruling.<\/li>\n<\/ul>\n\n\n\n
A US judge presiding over the case between Ripple and the Securities and Exchange Commission (SEC) has rejected a motion filed by the regulator to seal some of the essential documents.<\/p>\n\n\n\n
Judge Analisa Torres of the US District Court has disagreed<\/a> with SEC\u2019s move to seal Hinman\u2019s Speech documents, comprising emails, text messages, and expert reports, saying they were \u2018judicial documents\u2019 subject to a strong presumption of public access.<\/p>\n\n\n\n
As a recap, the SEC is suing<\/a> Ripple for selling unregistered securities. At the centre of the legal matter is a controversial speech by the former finance division director at the commission, William Hinman, who stated that Ether, the native cryptocurrency to the Ethereum blockchain, was not a security. The statement is believed to influence the much-awaited summary judgment considerably.<\/p>\n\n\n\n
The SEC\u2019s Position On The Matter<\/h2>\n\n\n\n
On December 22, the SEC filed a motion before Judge Torres to have all the documents containing Hinman\u2019s speech sealed from the public, saying they were irrelevant to the court\u2019s summary judgment. Further, the commission added that having the documents sealed preserved \u2018openness and candour\u2019, which the court has also rejected.<\/p>\n\n\n\n
\u2018\u2018Regardless of whether the court ultimately determines that the Hinman Speech Documents are admissible, or whether the court relies on the documents in ruling on the summary judgment motions, they are judicial documents subject to a strong presumption of public access because they are \u2018relevant to the performance of the judicial function and useful in the judicial process,'\" <\/em>read the ruling.<\/p>\n\n\n\n
XRP has added more than 5% in the past 24 hours following the development and was trading at $0.4487 at the time of writing. <\/p>\n","post_title":"Ripple Scores Major Victory In Case With The SEC As Court Denies Motion Filed By The Regulator","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-scores-major-victory-in-case-with-the-sec-as-court-denies-motion-filed-by-the-regulator","to_ping":"","pinged":"","post_modified":"2023-05-18 00:31:29","post_modified_gmt":"2023-05-17 14:31:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11770","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11728,"post_author":"12","post_date":"2023-05-15 16:06:43","post_date_gmt":"2023-05-15 06:06:43","post_content":"\n
A recent report<\/a> from Financial Times found that Worldcoin, a cryptocurrency project launched by OpenAI CEO Sam Altman, is close to securing $100M in funding. Those already backing the project include; a16z, Digital Currency Group and Coinbase Ventures; the new round of funding includes \u201cexisting and new investors.\u201d<\/em><\/p>\n\n\n\n
The project<\/a> was founded in 2020 by Sam Altman, Alex Blania, and Max Novendstern. With over 1,697,000 sign ups already, Worldcoin aims to build \"the world\u2019s largest identity and financial network as a public utility, giving ownership to everyone, [and] to create universal access to the global economy regardless of country or background, accelerating the transition to an economic future that welcomes and benefits every person on the planet.<\/em><\/p>\n\n\n\n
In March 2022, The Information\u00a0reported<\/a>\u00a0that the firm was looking to raise $100M\u00a0from investors through a private token sale, citing two people familiar with the situation. These sources stated that \u201cit\u2019s a bear market, a crypto winter. It\u2019s remarkable for a project in this space to get this amount of investment.\u201d<\/em><\/p>\n\n\n\n
Worldcoin Verification, Adoption, And Account Abstraction<\/h2>\n\n\n\nWorldcoin launched a gas-free crypto wallet in early May of 2023 called World App. This wallet relies on a system called World ID which uses zero-knowledge proofs to verify that you're a real human with either a phone number or iris scan. The gasless transactions rely upon account abstraction<\/a>, a popular protocol on Ethereum, under ERC-4337<\/a>.<\/p>\n\n\n\n
World App is also integrated with Uniswap, so users can swap currencies in the wallet.<\/p>\n\n\n\n
Worldcoin has been in its beta for some time now; within \"the next six weeks\" the blockchain protocol is expected to launch and with that, transactions will begin being recorded.<\/p>\n","post_title":"OpenAI's Sam Altman To Secure $100M For Worldcoin; Will Start Recording Transactions In 6 Weeks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openais-sam-altman-to-secure-100m-for-worldcoin-will-start-recording-transactions-in-6-weeks","to_ping":"","pinged":"","post_modified":"2023-05-15 16:06:46","post_modified_gmt":"2023-05-15 06:06:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11728","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11677,"post_author":"15","post_date":"2023-05-13 00:36:12","post_date_gmt":"2023-05-12 14:36:12","post_content":"\n
In the last 24 hours, $46.37 million worth of $PEPE has been deposited into exchanges. The meme coin has net deposits from 1,176 addresses amounting to $22.94 million. $PEPE has seen a significant drop of 31% in value, shrinking its market value to around $500 million, as reported <\/a>by ScopeProtocol.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/ScopeProtocol\/status\/1656916635134066688?s=20\n<\/div><\/figure>\n\n\n\n
$PEPE is a meme coin that has gained significant popularity in cryptocurrency. It has captured the attention of crypto enthusiasts and investors due to its unique and humorous nature.<\/p>\n\n\n\n
Despite its playful image, $PEPE has also experienced fluctuations in its market price. This volatility is characteristic of many memecoins, as trends, speculation, and the overall sentiment of the market can influence their prices.<\/p>\n\n\n\n
More On Memecoins<\/h2>\n\n\n\n
On May 11, 2023, @lookonchain<\/a>, a prominent cryptocurrency analyst, tweeted<\/a> about $PEPE and $LADYs (another meme coin). In his tweet, he praised how a cryptocurrency trader made huge profits trading meme coins. The trader bought $PEPE on Apr 18 and $LADYS before Elon Musk tweeted. In summary, his investment gained 36x on $PEPE and 35x on $LADYS. <\/p>\n\n\n\n
The meme coin phenomenon has emerged as a culture in the cryptocurrency space. We can notably refer to prominent meme coins like Dogecoin ($DOGE) and Shiba Inu ($SHIB). At the time of writing, these two cryptocurrencies ranked number 8 and number 15, respectively, according to Coinmarketcap. $DOGE and $SHIB have paved the way for other meme coins to gain traction in the crypto market.<\/p>\n","post_title":"Massive $PEPE Deposits Shake Crypto Exchanges; Market Value Plunges","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"massive-pepe-deposits-shake-crypto-exchanges-market-value-plunges","to_ping":"","pinged":"","post_modified":"2023-05-13 00:36:16","post_modified_gmt":"2023-05-12 14:36:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11677","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11401,"post_author":"13","post_date":"2023-05-02 11:29:00","post_date_gmt":"2023-05-02 01:29:00","post_content":"\n
\n
SUI farming will open for two days on BNB and TUSD pools beginning May 1.<\/li>\n\n\n\n
The token is expected to list afterward on Binance against BTC, USDT, TUSD, and BNB.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Binance has unveiled its 33rd project on Binance Luanchpoool, Sui, that allows users to farm SUI tokens using staked BNB and TrueUSD (TUSD).<\/p>\n\n\n\n
According to the announcement<\/a> on April 30, the farming of SUI tokens would run for 2 days beginning May 1. After that, the asset would be listed on Binance under trading pairs SUI\/BTC, SUI\/USDT, SUITUSD, and SUI\/BNB, subject to the relevant liquidity requirements.<\/p>\n\n\n\n
40 million SUI tokens are set for launchpool token rewards, 0.4% of the total token supply of 10 billion. So far, more than 9 million BNB tokens have been staked on the BNB pool, while the TUSD pool has more than 450 million staked TUSD.<\/p>\n\n\n\n
DPoS Layer-1 Blockchain<\/h2>\n\n\n\n
Sui<\/a> operates as a delegated proof of stake (DPoS) layer-1 blockchain<\/a> written on the Move programming language. The project has since raised $300 million in a series B funding round backed by Binance Labs and Coinbase - bringing its valuation to $2 billion.<\/p>\n\n\n\n
The project, hyped by its community of supporters as the \u2018Ethereum Killer\u2019<\/em>, uses a unique technology involving a parallel data model and execution engine to enhance transaction scaling. Besides, the blockchain employs an object-centric model for processing parallel transactions.<\/p>\n\n\n\n
The unveiling has pumped the price of Binance\u2019s native BNB token upwards despite a bearish market momentum. At press time, the token was changing hands for $333, representing a jump of 3% in the past day.<\/p>\n","post_title":"Binance Launches SUI Farming With Staked BNB And TrueUSD","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-launches-sui-farming-with-staked-bnb-and-trueusd","to_ping":"","pinged":"","post_modified":"2023-05-04 13:03:20","post_modified_gmt":"2023-05-04 03:03:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 … 10 Next

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Altcoins

Ripple Challenges SEC’s Bid For Appeal In Legal Battle

September 3, 2023

Artificial Intelligence

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November 24, 2024

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Follow The Distributed

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\n
\"This ruling is undoubtedly a milestone win for the industry. It provides legal clarity and defense around what does and does not constitute a security, and that overall outcome is in favor of what many in the industry had been arguing,\"<\/em> JP Morgan wrote<\/a> in the note seen by Coindesk.<\/p>\n\n\n\n
Following the landmark ruling, the price of cryptocurrencies soared as sentiment changed in the digital asset space. The cost of XRP rose by about 70%, while Bitcoin reached its highest level in more than a year.<\/p>\n\n\n\n
SEC's Next Step<\/h2>\n\n\n\n
However, according to JPMorgan, the ruling may not be the end of what has come to be termed as regulations by enforcement by the SEC, as the regulator could appeal the case or bring similar charges against other cryptocurrency companies.<\/p>\n\n\n\n
In June, Binance, the leading crypto exchange, faced 13 charges from the SEC, one being the sale of unauthorized securities. The regulator sued Coinbase, the largest US cryptocurrency exchange, for security law violations. <\/p>\n\n\n\n
At the start of the year, the SEC brought charges<\/a> against Gemini and Genesis for allegedly violating the securities regulations related to crypto lending. In February, it\u00a0 fined crypto exchange Kraken<\/a>\u00a0$30 million and ordered the platform to cease offering staking services to US users.<\/p>\n","post_title":"Ripple-SEC Ruling \u2018A Win\u2019 For Crypto Industry But Regulatory War Not Over, JP Morgan Says","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-sec-ruling-a-win-for-crypto-industry-but-regulatory-war-not-over-jp-morgan-says","to_ping":"","pinged":"","post_modified":"2023-07-15 23:36:25","post_modified_gmt":"2023-07-15 13:36:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11929,"post_author":"15","post_date":"2023-06-08 22:45:46","post_date_gmt":"2023-06-08 12:45:46","post_content":"\n
Arbitrum, a layer 2 blockchain, halts the process of transactions due to funding issues. With over $2.24 billion in deposits, the network experiences an hour-long standstill due to gas shortage. <\/p>\n\n\n\n
Developers on the Arbitrum Discord server<\/a> faced connectivity issues with the network's sequencer. The software is responsible for bundling and confirming transactions on the Ethereum network.<\/p>\n\n\n\n
According to on-chain records<\/a>, the sequencer exhausted its supply of Ether, the native cryptocurrency of Ethereum used for transaction fees<\/a>. Without sufficient Ether to cover the fees, the sequencer could not process transactions on Ethereum, resulting in Arbitrum coming to a halt.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
What's Next to Arbitrum?<\/h2>\n\n\n\n
Following an hour-long period of transaction processing failure, Arbitrum has resumed its operations. A wallet that had previously transferred funds to the Arbitrum multi-signature wallet sent 1.4 Ether to the sequence. This replenishment enabled the sequencer to resume sending transactions to Ethereum.<\/p>\n\n\n\n
The cause behind the depletion of gas in Arbitrum's sequencer remains uncertain. Since its launch in May 2021, the sequencer has only been manually refuelled with Ether on four occasions.<\/p>\n\n\n\n
The recent event highlights the reliance of Arbitrum on a centralized control point. Offchain Labs, the company behind Arbitrum, has expressed its plans to decentralize the network's sequencer. <\/p>\n","post_title":"Arbitrum Faces Temporary Shutdown Due To Gas Shortage","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"arbitrum-faces-temporary-shutdown-due-to-gas-shortage","to_ping":"","pinged":"","post_modified":"2023-06-08 22:45:55","post_modified_gmt":"2023-06-08 12:45:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11929","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11770,"post_author":"13","post_date":"2023-05-18 00:31:26","post_date_gmt":"2023-05-17 14:31:26","post_content":"\n
\n
Judge Analisa Torres has declined a motion by the commission to seal essential documents in the legal tussle.  <\/li>\n\n\n\n
The price of the native XRP token has surged following the ruling.<\/li>\n<\/ul>\n\n\n\n
A US judge presiding over the case between Ripple and the Securities and Exchange Commission (SEC) has rejected a motion filed by the regulator to seal some of the essential documents.<\/p>\n\n\n\n
Judge Analisa Torres of the US District Court has disagreed<\/a> with SEC\u2019s move to seal Hinman\u2019s Speech documents, comprising emails, text messages, and expert reports, saying they were \u2018judicial documents\u2019 subject to a strong presumption of public access.<\/p>\n\n\n\n
As a recap, the SEC is suing<\/a> Ripple for selling unregistered securities. At the centre of the legal matter is a controversial speech by the former finance division director at the commission, William Hinman, who stated that Ether, the native cryptocurrency to the Ethereum blockchain, was not a security. The statement is believed to influence the much-awaited summary judgment considerably.<\/p>\n\n\n\n
The SEC\u2019s Position On The Matter<\/h2>\n\n\n\n
On December 22, the SEC filed a motion before Judge Torres to have all the documents containing Hinman\u2019s speech sealed from the public, saying they were irrelevant to the court\u2019s summary judgment. Further, the commission added that having the documents sealed preserved \u2018openness and candour\u2019, which the court has also rejected.<\/p>\n\n\n\n
\u2018\u2018Regardless of whether the court ultimately determines that the Hinman Speech Documents are admissible, or whether the court relies on the documents in ruling on the summary judgment motions, they are judicial documents subject to a strong presumption of public access because they are \u2018relevant to the performance of the judicial function and useful in the judicial process,'\" <\/em>read the ruling.<\/p>\n\n\n\n
XRP has added more than 5% in the past 24 hours following the development and was trading at $0.4487 at the time of writing. <\/p>\n","post_title":"Ripple Scores Major Victory In Case With The SEC As Court Denies Motion Filed By The Regulator","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-scores-major-victory-in-case-with-the-sec-as-court-denies-motion-filed-by-the-regulator","to_ping":"","pinged":"","post_modified":"2023-05-18 00:31:29","post_modified_gmt":"2023-05-17 14:31:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11770","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11728,"post_author":"12","post_date":"2023-05-15 16:06:43","post_date_gmt":"2023-05-15 06:06:43","post_content":"\n
A recent report<\/a> from Financial Times found that Worldcoin, a cryptocurrency project launched by OpenAI CEO Sam Altman, is close to securing $100M in funding. Those already backing the project include; a16z, Digital Currency Group and Coinbase Ventures; the new round of funding includes \u201cexisting and new investors.\u201d<\/em><\/p>\n\n\n\n
The project<\/a> was founded in 2020 by Sam Altman, Alex Blania, and Max Novendstern. With over 1,697,000 sign ups already, Worldcoin aims to build \"the world\u2019s largest identity and financial network as a public utility, giving ownership to everyone, [and] to create universal access to the global economy regardless of country or background, accelerating the transition to an economic future that welcomes and benefits every person on the planet.<\/em><\/p>\n\n\n\n
In March 2022, The Information\u00a0reported<\/a>\u00a0that the firm was looking to raise $100M\u00a0from investors through a private token sale, citing two people familiar with the situation. These sources stated that \u201cit\u2019s a bear market, a crypto winter. It\u2019s remarkable for a project in this space to get this amount of investment.\u201d<\/em><\/p>\n\n\n\n
Worldcoin Verification, Adoption, And Account Abstraction<\/h2>\n\n\n\nWorldcoin launched a gas-free crypto wallet in early May of 2023 called World App. This wallet relies on a system called World ID which uses zero-knowledge proofs to verify that you're a real human with either a phone number or iris scan. The gasless transactions rely upon account abstraction<\/a>, a popular protocol on Ethereum, under ERC-4337<\/a>.<\/p>\n\n\n\n
World App is also integrated with Uniswap, so users can swap currencies in the wallet.<\/p>\n\n\n\n
Worldcoin has been in its beta for some time now; within \"the next six weeks\" the blockchain protocol is expected to launch and with that, transactions will begin being recorded.<\/p>\n","post_title":"OpenAI's Sam Altman To Secure $100M For Worldcoin; Will Start Recording Transactions In 6 Weeks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openais-sam-altman-to-secure-100m-for-worldcoin-will-start-recording-transactions-in-6-weeks","to_ping":"","pinged":"","post_modified":"2023-05-15 16:06:46","post_modified_gmt":"2023-05-15 06:06:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11728","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11677,"post_author":"15","post_date":"2023-05-13 00:36:12","post_date_gmt":"2023-05-12 14:36:12","post_content":"\n
In the last 24 hours, $46.37 million worth of $PEPE has been deposited into exchanges. The meme coin has net deposits from 1,176 addresses amounting to $22.94 million. $PEPE has seen a significant drop of 31% in value, shrinking its market value to around $500 million, as reported <\/a>by ScopeProtocol.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/ScopeProtocol\/status\/1656916635134066688?s=20\n<\/div><\/figure>\n\n\n\n
$PEPE is a meme coin that has gained significant popularity in cryptocurrency. It has captured the attention of crypto enthusiasts and investors due to its unique and humorous nature.<\/p>\n\n\n\n
Despite its playful image, $PEPE has also experienced fluctuations in its market price. This volatility is characteristic of many memecoins, as trends, speculation, and the overall sentiment of the market can influence their prices.<\/p>\n\n\n\n
More On Memecoins<\/h2>\n\n\n\n
On May 11, 2023, @lookonchain<\/a>, a prominent cryptocurrency analyst, tweeted<\/a> about $PEPE and $LADYs (another meme coin). In his tweet, he praised how a cryptocurrency trader made huge profits trading meme coins. The trader bought $PEPE on Apr 18 and $LADYS before Elon Musk tweeted. In summary, his investment gained 36x on $PEPE and 35x on $LADYS. <\/p>\n\n\n\n
The meme coin phenomenon has emerged as a culture in the cryptocurrency space. We can notably refer to prominent meme coins like Dogecoin ($DOGE) and Shiba Inu ($SHIB). At the time of writing, these two cryptocurrencies ranked number 8 and number 15, respectively, according to Coinmarketcap. $DOGE and $SHIB have paved the way for other meme coins to gain traction in the crypto market.<\/p>\n","post_title":"Massive $PEPE Deposits Shake Crypto Exchanges; Market Value Plunges","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"massive-pepe-deposits-shake-crypto-exchanges-market-value-plunges","to_ping":"","pinged":"","post_modified":"2023-05-13 00:36:16","post_modified_gmt":"2023-05-12 14:36:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11677","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11401,"post_author":"13","post_date":"2023-05-02 11:29:00","post_date_gmt":"2023-05-02 01:29:00","post_content":"\n
\n
SUI farming will open for two days on BNB and TUSD pools beginning May 1.<\/li>\n\n\n\n
The token is expected to list afterward on Binance against BTC, USDT, TUSD, and BNB.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Binance has unveiled its 33rd project on Binance Luanchpoool, Sui, that allows users to farm SUI tokens using staked BNB and TrueUSD (TUSD).<\/p>\n\n\n\n
According to the announcement<\/a> on April 30, the farming of SUI tokens would run for 2 days beginning May 1. After that, the asset would be listed on Binance under trading pairs SUI\/BTC, SUI\/USDT, SUITUSD, and SUI\/BNB, subject to the relevant liquidity requirements.<\/p>\n\n\n\n
40 million SUI tokens are set for launchpool token rewards, 0.4% of the total token supply of 10 billion. So far, more than 9 million BNB tokens have been staked on the BNB pool, while the TUSD pool has more than 450 million staked TUSD.<\/p>\n\n\n\n
DPoS Layer-1 Blockchain<\/h2>\n\n\n\n
Sui<\/a> operates as a delegated proof of stake (DPoS) layer-1 blockchain<\/a> written on the Move programming language. The project has since raised $300 million in a series B funding round backed by Binance Labs and Coinbase - bringing its valuation to $2 billion.<\/p>\n\n\n\n
The project, hyped by its community of supporters as the \u2018Ethereum Killer\u2019<\/em>, uses a unique technology involving a parallel data model and execution engine to enhance transaction scaling. Besides, the blockchain employs an object-centric model for processing parallel transactions.<\/p>\n\n\n\n
The unveiling has pumped the price of Binance\u2019s native BNB token upwards despite a bearish market momentum. At press time, the token was changing hands for $333, representing a jump of 3% in the past day.<\/p>\n","post_title":"Binance Launches SUI Farming With Staked BNB And TrueUSD","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-launches-sui-farming-with-staked-bnb-and-trueusd","to_ping":"","pinged":"","post_modified":"2023-05-04 13:03:20","post_modified_gmt":"2023-05-04 03:03:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 … 10 Next

Most Read

Altcoins

Ripple Challenges SEC’s Bid For Appeal In Legal Battle

September 3, 2023

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Artificial Intelligence

Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

August 15, 2024

Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
On Thursday, the US Southern District Court ruled partially in favor of Ripple, the FinTech company that issues XRP. The SEC and Ripple's 2-year legal battle concluded with the ruling that cryptocurrency issuance on exchanges is not an investment contract.<\/p>\n\n\n\n
\"This ruling is undoubtedly a milestone win for the industry. It provides legal clarity and defense around what does and does not constitute a security, and that overall outcome is in favor of what many in the industry had been arguing,\"<\/em> JP Morgan wrote<\/a> in the note seen by Coindesk.<\/p>\n\n\n\n
Following the landmark ruling, the price of cryptocurrencies soared as sentiment changed in the digital asset space. The cost of XRP rose by about 70%, while Bitcoin reached its highest level in more than a year.<\/p>\n\n\n\n
SEC's Next Step<\/h2>\n\n\n\n
However, according to JPMorgan, the ruling may not be the end of what has come to be termed as regulations by enforcement by the SEC, as the regulator could appeal the case or bring similar charges against other cryptocurrency companies.<\/p>\n\n\n\n
In June, Binance, the leading crypto exchange, faced 13 charges from the SEC, one being the sale of unauthorized securities. The regulator sued Coinbase, the largest US cryptocurrency exchange, for security law violations. <\/p>\n\n\n\n
At the start of the year, the SEC brought charges<\/a> against Gemini and Genesis for allegedly violating the securities regulations related to crypto lending. In February, it\u00a0 fined crypto exchange Kraken<\/a>\u00a0$30 million and ordered the platform to cease offering staking services to US users.<\/p>\n","post_title":"Ripple-SEC Ruling \u2018A Win\u2019 For Crypto Industry But Regulatory War Not Over, JP Morgan Says","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-sec-ruling-a-win-for-crypto-industry-but-regulatory-war-not-over-jp-morgan-says","to_ping":"","pinged":"","post_modified":"2023-07-15 23:36:25","post_modified_gmt":"2023-07-15 13:36:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11929,"post_author":"15","post_date":"2023-06-08 22:45:46","post_date_gmt":"2023-06-08 12:45:46","post_content":"\n
Arbitrum, a layer 2 blockchain, halts the process of transactions due to funding issues. With over $2.24 billion in deposits, the network experiences an hour-long standstill due to gas shortage. <\/p>\n\n\n\n
Developers on the Arbitrum Discord server<\/a> faced connectivity issues with the network's sequencer. The software is responsible for bundling and confirming transactions on the Ethereum network.<\/p>\n\n\n\n
According to on-chain records<\/a>, the sequencer exhausted its supply of Ether, the native cryptocurrency of Ethereum used for transaction fees<\/a>. Without sufficient Ether to cover the fees, the sequencer could not process transactions on Ethereum, resulting in Arbitrum coming to a halt.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
What's Next to Arbitrum?<\/h2>\n\n\n\n
Following an hour-long period of transaction processing failure, Arbitrum has resumed its operations. A wallet that had previously transferred funds to the Arbitrum multi-signature wallet sent 1.4 Ether to the sequence. This replenishment enabled the sequencer to resume sending transactions to Ethereum.<\/p>\n\n\n\n
The cause behind the depletion of gas in Arbitrum's sequencer remains uncertain. Since its launch in May 2021, the sequencer has only been manually refuelled with Ether on four occasions.<\/p>\n\n\n\n
The recent event highlights the reliance of Arbitrum on a centralized control point. Offchain Labs, the company behind Arbitrum, has expressed its plans to decentralize the network's sequencer. <\/p>\n","post_title":"Arbitrum Faces Temporary Shutdown Due To Gas Shortage","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"arbitrum-faces-temporary-shutdown-due-to-gas-shortage","to_ping":"","pinged":"","post_modified":"2023-06-08 22:45:55","post_modified_gmt":"2023-06-08 12:45:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11929","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11770,"post_author":"13","post_date":"2023-05-18 00:31:26","post_date_gmt":"2023-05-17 14:31:26","post_content":"\n
\n
Judge Analisa Torres has declined a motion by the commission to seal essential documents in the legal tussle.  <\/li>\n\n\n\n
The price of the native XRP token has surged following the ruling.<\/li>\n<\/ul>\n\n\n\n
A US judge presiding over the case between Ripple and the Securities and Exchange Commission (SEC) has rejected a motion filed by the regulator to seal some of the essential documents.<\/p>\n\n\n\n
Judge Analisa Torres of the US District Court has disagreed<\/a> with SEC\u2019s move to seal Hinman\u2019s Speech documents, comprising emails, text messages, and expert reports, saying they were \u2018judicial documents\u2019 subject to a strong presumption of public access.<\/p>\n\n\n\n
As a recap, the SEC is suing<\/a> Ripple for selling unregistered securities. At the centre of the legal matter is a controversial speech by the former finance division director at the commission, William Hinman, who stated that Ether, the native cryptocurrency to the Ethereum blockchain, was not a security. The statement is believed to influence the much-awaited summary judgment considerably.<\/p>\n\n\n\n
The SEC\u2019s Position On The Matter<\/h2>\n\n\n\n
On December 22, the SEC filed a motion before Judge Torres to have all the documents containing Hinman\u2019s speech sealed from the public, saying they were irrelevant to the court\u2019s summary judgment. Further, the commission added that having the documents sealed preserved \u2018openness and candour\u2019, which the court has also rejected.<\/p>\n\n\n\n
\u2018\u2018Regardless of whether the court ultimately determines that the Hinman Speech Documents are admissible, or whether the court relies on the documents in ruling on the summary judgment motions, they are judicial documents subject to a strong presumption of public access because they are \u2018relevant to the performance of the judicial function and useful in the judicial process,'\" <\/em>read the ruling.<\/p>\n\n\n\n
XRP has added more than 5% in the past 24 hours following the development and was trading at $0.4487 at the time of writing. <\/p>\n","post_title":"Ripple Scores Major Victory In Case With The SEC As Court Denies Motion Filed By The Regulator","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-scores-major-victory-in-case-with-the-sec-as-court-denies-motion-filed-by-the-regulator","to_ping":"","pinged":"","post_modified":"2023-05-18 00:31:29","post_modified_gmt":"2023-05-17 14:31:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11770","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11728,"post_author":"12","post_date":"2023-05-15 16:06:43","post_date_gmt":"2023-05-15 06:06:43","post_content":"\n
A recent report<\/a> from Financial Times found that Worldcoin, a cryptocurrency project launched by OpenAI CEO Sam Altman, is close to securing $100M in funding. Those already backing the project include; a16z, Digital Currency Group and Coinbase Ventures; the new round of funding includes \u201cexisting and new investors.\u201d<\/em><\/p>\n\n\n\n
The project<\/a> was founded in 2020 by Sam Altman, Alex Blania, and Max Novendstern. With over 1,697,000 sign ups already, Worldcoin aims to build \"the world\u2019s largest identity and financial network as a public utility, giving ownership to everyone, [and] to create universal access to the global economy regardless of country or background, accelerating the transition to an economic future that welcomes and benefits every person on the planet.<\/em><\/p>\n\n\n\n
In March 2022, The Information\u00a0reported<\/a>\u00a0that the firm was looking to raise $100M\u00a0from investors through a private token sale, citing two people familiar with the situation. These sources stated that \u201cit\u2019s a bear market, a crypto winter. It\u2019s remarkable for a project in this space to get this amount of investment.\u201d<\/em><\/p>\n\n\n\n
Worldcoin Verification, Adoption, And Account Abstraction<\/h2>\n\n\n\nWorldcoin launched a gas-free crypto wallet in early May of 2023 called World App. This wallet relies on a system called World ID which uses zero-knowledge proofs to verify that you're a real human with either a phone number or iris scan. The gasless transactions rely upon account abstraction<\/a>, a popular protocol on Ethereum, under ERC-4337<\/a>.<\/p>\n\n\n\n
World App is also integrated with Uniswap, so users can swap currencies in the wallet.<\/p>\n\n\n\n
Worldcoin has been in its beta for some time now; within \"the next six weeks\" the blockchain protocol is expected to launch and with that, transactions will begin being recorded.<\/p>\n","post_title":"OpenAI's Sam Altman To Secure $100M For Worldcoin; Will Start Recording Transactions In 6 Weeks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openais-sam-altman-to-secure-100m-for-worldcoin-will-start-recording-transactions-in-6-weeks","to_ping":"","pinged":"","post_modified":"2023-05-15 16:06:46","post_modified_gmt":"2023-05-15 06:06:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11728","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11677,"post_author":"15","post_date":"2023-05-13 00:36:12","post_date_gmt":"2023-05-12 14:36:12","post_content":"\n
In the last 24 hours, $46.37 million worth of $PEPE has been deposited into exchanges. The meme coin has net deposits from 1,176 addresses amounting to $22.94 million. $PEPE has seen a significant drop of 31% in value, shrinking its market value to around $500 million, as reported <\/a>by ScopeProtocol.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/ScopeProtocol\/status\/1656916635134066688?s=20\n<\/div><\/figure>\n\n\n\n
$PEPE is a meme coin that has gained significant popularity in cryptocurrency. It has captured the attention of crypto enthusiasts and investors due to its unique and humorous nature.<\/p>\n\n\n\n
Despite its playful image, $PEPE has also experienced fluctuations in its market price. This volatility is characteristic of many memecoins, as trends, speculation, and the overall sentiment of the market can influence their prices.<\/p>\n\n\n\n
More On Memecoins<\/h2>\n\n\n\n
On May 11, 2023, @lookonchain<\/a>, a prominent cryptocurrency analyst, tweeted<\/a> about $PEPE and $LADYs (another meme coin). In his tweet, he praised how a cryptocurrency trader made huge profits trading meme coins. The trader bought $PEPE on Apr 18 and $LADYS before Elon Musk tweeted. In summary, his investment gained 36x on $PEPE and 35x on $LADYS. <\/p>\n\n\n\n
The meme coin phenomenon has emerged as a culture in the cryptocurrency space. We can notably refer to prominent meme coins like Dogecoin ($DOGE) and Shiba Inu ($SHIB). At the time of writing, these two cryptocurrencies ranked number 8 and number 15, respectively, according to Coinmarketcap. $DOGE and $SHIB have paved the way for other meme coins to gain traction in the crypto market.<\/p>\n","post_title":"Massive $PEPE Deposits Shake Crypto Exchanges; Market Value Plunges","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"massive-pepe-deposits-shake-crypto-exchanges-market-value-plunges","to_ping":"","pinged":"","post_modified":"2023-05-13 00:36:16","post_modified_gmt":"2023-05-12 14:36:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11677","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11401,"post_author":"13","post_date":"2023-05-02 11:29:00","post_date_gmt":"2023-05-02 01:29:00","post_content":"\n
\n
SUI farming will open for two days on BNB and TUSD pools beginning May 1.<\/li>\n\n\n\n
The token is expected to list afterward on Binance against BTC, USDT, TUSD, and BNB.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Binance has unveiled its 33rd project on Binance Luanchpoool, Sui, that allows users to farm SUI tokens using staked BNB and TrueUSD (TUSD).<\/p>\n\n\n\n
According to the announcement<\/a> on April 30, the farming of SUI tokens would run for 2 days beginning May 1. After that, the asset would be listed on Binance under trading pairs SUI\/BTC, SUI\/USDT, SUITUSD, and SUI\/BNB, subject to the relevant liquidity requirements.<\/p>\n\n\n\n
40 million SUI tokens are set for launchpool token rewards, 0.4% of the total token supply of 10 billion. So far, more than 9 million BNB tokens have been staked on the BNB pool, while the TUSD pool has more than 450 million staked TUSD.<\/p>\n\n\n\n
DPoS Layer-1 Blockchain<\/h2>\n\n\n\n
Sui<\/a> operates as a delegated proof of stake (DPoS) layer-1 blockchain<\/a> written on the Move programming language. The project has since raised $300 million in a series B funding round backed by Binance Labs and Coinbase - bringing its valuation to $2 billion.<\/p>\n\n\n\n
The project, hyped by its community of supporters as the \u2018Ethereum Killer\u2019<\/em>, uses a unique technology involving a parallel data model and execution engine to enhance transaction scaling. Besides, the blockchain employs an object-centric model for processing parallel transactions.<\/p>\n\n\n\n
The unveiling has pumped the price of Binance\u2019s native BNB token upwards despite a bearish market momentum. At press time, the token was changing hands for $333, representing a jump of 3% in the past day.<\/p>\n","post_title":"Binance Launches SUI Farming With Staked BNB And TrueUSD","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-launches-sui-farming-with-staked-bnb-and-trueusd","to_ping":"","pinged":"","post_modified":"2023-05-04 13:03:20","post_modified_gmt":"2023-05-04 03:03:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 … 10 Next

Most Read

Altcoins

Ripple Challenges SEC’s Bid For Appeal In Legal Battle

September 3, 2023

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

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Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

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Follow The Distributed

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\n
JP Morgan viewed the court ruling for Ripple as a significant victory. However, according to the investment banking giant, the regulations by enforcement are far from over. <\/p>\n\n\n\n
On Thursday, the US Southern District Court ruled partially in favor of Ripple, the FinTech company that issues XRP. The SEC and Ripple's 2-year legal battle concluded with the ruling that cryptocurrency issuance on exchanges is not an investment contract.<\/p>\n\n\n\n
\"This ruling is undoubtedly a milestone win for the industry. It provides legal clarity and defense around what does and does not constitute a security, and that overall outcome is in favor of what many in the industry had been arguing,\"<\/em> JP Morgan wrote<\/a> in the note seen by Coindesk.<\/p>\n\n\n\n
Following the landmark ruling, the price of cryptocurrencies soared as sentiment changed in the digital asset space. The cost of XRP rose by about 70%, while Bitcoin reached its highest level in more than a year.<\/p>\n\n\n\n
SEC's Next Step<\/h2>\n\n\n\n
However, according to JPMorgan, the ruling may not be the end of what has come to be termed as regulations by enforcement by the SEC, as the regulator could appeal the case or bring similar charges against other cryptocurrency companies.<\/p>\n\n\n\n
In June, Binance, the leading crypto exchange, faced 13 charges from the SEC, one being the sale of unauthorized securities. The regulator sued Coinbase, the largest US cryptocurrency exchange, for security law violations. <\/p>\n\n\n\n
At the start of the year, the SEC brought charges<\/a> against Gemini and Genesis for allegedly violating the securities regulations related to crypto lending. In February, it\u00a0 fined crypto exchange Kraken<\/a>\u00a0$30 million and ordered the platform to cease offering staking services to US users.<\/p>\n","post_title":"Ripple-SEC Ruling \u2018A Win\u2019 For Crypto Industry But Regulatory War Not Over, JP Morgan Says","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-sec-ruling-a-win-for-crypto-industry-but-regulatory-war-not-over-jp-morgan-says","to_ping":"","pinged":"","post_modified":"2023-07-15 23:36:25","post_modified_gmt":"2023-07-15 13:36:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11929,"post_author":"15","post_date":"2023-06-08 22:45:46","post_date_gmt":"2023-06-08 12:45:46","post_content":"\n
Arbitrum, a layer 2 blockchain, halts the process of transactions due to funding issues. With over $2.24 billion in deposits, the network experiences an hour-long standstill due to gas shortage. <\/p>\n\n\n\n
Developers on the Arbitrum Discord server<\/a> faced connectivity issues with the network's sequencer. The software is responsible for bundling and confirming transactions on the Ethereum network.<\/p>\n\n\n\n
According to on-chain records<\/a>, the sequencer exhausted its supply of Ether, the native cryptocurrency of Ethereum used for transaction fees<\/a>. Without sufficient Ether to cover the fees, the sequencer could not process transactions on Ethereum, resulting in Arbitrum coming to a halt.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
What's Next to Arbitrum?<\/h2>\n\n\n\n
Following an hour-long period of transaction processing failure, Arbitrum has resumed its operations. A wallet that had previously transferred funds to the Arbitrum multi-signature wallet sent 1.4 Ether to the sequence. This replenishment enabled the sequencer to resume sending transactions to Ethereum.<\/p>\n\n\n\n
The cause behind the depletion of gas in Arbitrum's sequencer remains uncertain. Since its launch in May 2021, the sequencer has only been manually refuelled with Ether on four occasions.<\/p>\n\n\n\n
The recent event highlights the reliance of Arbitrum on a centralized control point. Offchain Labs, the company behind Arbitrum, has expressed its plans to decentralize the network's sequencer. <\/p>\n","post_title":"Arbitrum Faces Temporary Shutdown Due To Gas Shortage","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"arbitrum-faces-temporary-shutdown-due-to-gas-shortage","to_ping":"","pinged":"","post_modified":"2023-06-08 22:45:55","post_modified_gmt":"2023-06-08 12:45:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11929","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11770,"post_author":"13","post_date":"2023-05-18 00:31:26","post_date_gmt":"2023-05-17 14:31:26","post_content":"\n
\n
Judge Analisa Torres has declined a motion by the commission to seal essential documents in the legal tussle.  <\/li>\n\n\n\n
The price of the native XRP token has surged following the ruling.<\/li>\n<\/ul>\n\n\n\n
A US judge presiding over the case between Ripple and the Securities and Exchange Commission (SEC) has rejected a motion filed by the regulator to seal some of the essential documents.<\/p>\n\n\n\n
Judge Analisa Torres of the US District Court has disagreed<\/a> with SEC\u2019s move to seal Hinman\u2019s Speech documents, comprising emails, text messages, and expert reports, saying they were \u2018judicial documents\u2019 subject to a strong presumption of public access.<\/p>\n\n\n\n
As a recap, the SEC is suing<\/a> Ripple for selling unregistered securities. At the centre of the legal matter is a controversial speech by the former finance division director at the commission, William Hinman, who stated that Ether, the native cryptocurrency to the Ethereum blockchain, was not a security. The statement is believed to influence the much-awaited summary judgment considerably.<\/p>\n\n\n\n
The SEC\u2019s Position On The Matter<\/h2>\n\n\n\n
On December 22, the SEC filed a motion before Judge Torres to have all the documents containing Hinman\u2019s speech sealed from the public, saying they were irrelevant to the court\u2019s summary judgment. Further, the commission added that having the documents sealed preserved \u2018openness and candour\u2019, which the court has also rejected.<\/p>\n\n\n\n
\u2018\u2018Regardless of whether the court ultimately determines that the Hinman Speech Documents are admissible, or whether the court relies on the documents in ruling on the summary judgment motions, they are judicial documents subject to a strong presumption of public access because they are \u2018relevant to the performance of the judicial function and useful in the judicial process,'\" <\/em>read the ruling.<\/p>\n\n\n\n
XRP has added more than 5% in the past 24 hours following the development and was trading at $0.4487 at the time of writing. <\/p>\n","post_title":"Ripple Scores Major Victory In Case With The SEC As Court Denies Motion Filed By The Regulator","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-scores-major-victory-in-case-with-the-sec-as-court-denies-motion-filed-by-the-regulator","to_ping":"","pinged":"","post_modified":"2023-05-18 00:31:29","post_modified_gmt":"2023-05-17 14:31:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11770","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11728,"post_author":"12","post_date":"2023-05-15 16:06:43","post_date_gmt":"2023-05-15 06:06:43","post_content":"\n
A recent report<\/a> from Financial Times found that Worldcoin, a cryptocurrency project launched by OpenAI CEO Sam Altman, is close to securing $100M in funding. Those already backing the project include; a16z, Digital Currency Group and Coinbase Ventures; the new round of funding includes \u201cexisting and new investors.\u201d<\/em><\/p>\n\n\n\n
The project<\/a> was founded in 2020 by Sam Altman, Alex Blania, and Max Novendstern. With over 1,697,000 sign ups already, Worldcoin aims to build \"the world\u2019s largest identity and financial network as a public utility, giving ownership to everyone, [and] to create universal access to the global economy regardless of country or background, accelerating the transition to an economic future that welcomes and benefits every person on the planet.<\/em><\/p>\n\n\n\n
In March 2022, The Information\u00a0reported<\/a>\u00a0that the firm was looking to raise $100M\u00a0from investors through a private token sale, citing two people familiar with the situation. These sources stated that \u201cit\u2019s a bear market, a crypto winter. It\u2019s remarkable for a project in this space to get this amount of investment.\u201d<\/em><\/p>\n\n\n\n
Worldcoin Verification, Adoption, And Account Abstraction<\/h2>\n\n\n\nWorldcoin launched a gas-free crypto wallet in early May of 2023 called World App. This wallet relies on a system called World ID which uses zero-knowledge proofs to verify that you're a real human with either a phone number or iris scan. The gasless transactions rely upon account abstraction<\/a>, a popular protocol on Ethereum, under ERC-4337<\/a>.<\/p>\n\n\n\n
World App is also integrated with Uniswap, so users can swap currencies in the wallet.<\/p>\n\n\n\n
Worldcoin has been in its beta for some time now; within \"the next six weeks\" the blockchain protocol is expected to launch and with that, transactions will begin being recorded.<\/p>\n","post_title":"OpenAI's Sam Altman To Secure $100M For Worldcoin; Will Start Recording Transactions In 6 Weeks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openais-sam-altman-to-secure-100m-for-worldcoin-will-start-recording-transactions-in-6-weeks","to_ping":"","pinged":"","post_modified":"2023-05-15 16:06:46","post_modified_gmt":"2023-05-15 06:06:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11728","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11677,"post_author":"15","post_date":"2023-05-13 00:36:12","post_date_gmt":"2023-05-12 14:36:12","post_content":"\n
In the last 24 hours, $46.37 million worth of $PEPE has been deposited into exchanges. The meme coin has net deposits from 1,176 addresses amounting to $22.94 million. $PEPE has seen a significant drop of 31% in value, shrinking its market value to around $500 million, as reported <\/a>by ScopeProtocol.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/ScopeProtocol\/status\/1656916635134066688?s=20\n<\/div><\/figure>\n\n\n\n
$PEPE is a meme coin that has gained significant popularity in cryptocurrency. It has captured the attention of crypto enthusiasts and investors due to its unique and humorous nature.<\/p>\n\n\n\n
Despite its playful image, $PEPE has also experienced fluctuations in its market price. This volatility is characteristic of many memecoins, as trends, speculation, and the overall sentiment of the market can influence their prices.<\/p>\n\n\n\n
More On Memecoins<\/h2>\n\n\n\n
On May 11, 2023, @lookonchain<\/a>, a prominent cryptocurrency analyst, tweeted<\/a> about $PEPE and $LADYs (another meme coin). In his tweet, he praised how a cryptocurrency trader made huge profits trading meme coins. The trader bought $PEPE on Apr 18 and $LADYS before Elon Musk tweeted. In summary, his investment gained 36x on $PEPE and 35x on $LADYS. <\/p>\n\n\n\n
The meme coin phenomenon has emerged as a culture in the cryptocurrency space. We can notably refer to prominent meme coins like Dogecoin ($DOGE) and Shiba Inu ($SHIB). At the time of writing, these two cryptocurrencies ranked number 8 and number 15, respectively, according to Coinmarketcap. $DOGE and $SHIB have paved the way for other meme coins to gain traction in the crypto market.<\/p>\n","post_title":"Massive $PEPE Deposits Shake Crypto Exchanges; Market Value Plunges","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"massive-pepe-deposits-shake-crypto-exchanges-market-value-plunges","to_ping":"","pinged":"","post_modified":"2023-05-13 00:36:16","post_modified_gmt":"2023-05-12 14:36:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11677","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11401,"post_author":"13","post_date":"2023-05-02 11:29:00","post_date_gmt":"2023-05-02 01:29:00","post_content":"\n
\n
SUI farming will open for two days on BNB and TUSD pools beginning May 1.<\/li>\n\n\n\n
The token is expected to list afterward on Binance against BTC, USDT, TUSD, and BNB.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Binance has unveiled its 33rd project on Binance Luanchpoool, Sui, that allows users to farm SUI tokens using staked BNB and TrueUSD (TUSD).<\/p>\n\n\n\n
According to the announcement<\/a> on April 30, the farming of SUI tokens would run for 2 days beginning May 1. After that, the asset would be listed on Binance under trading pairs SUI\/BTC, SUI\/USDT, SUITUSD, and SUI\/BNB, subject to the relevant liquidity requirements.<\/p>\n\n\n\n
40 million SUI tokens are set for launchpool token rewards, 0.4% of the total token supply of 10 billion. So far, more than 9 million BNB tokens have been staked on the BNB pool, while the TUSD pool has more than 450 million staked TUSD.<\/p>\n\n\n\n
DPoS Layer-1 Blockchain<\/h2>\n\n\n\n
Sui<\/a> operates as a delegated proof of stake (DPoS) layer-1 blockchain<\/a> written on the Move programming language. The project has since raised $300 million in a series B funding round backed by Binance Labs and Coinbase - bringing its valuation to $2 billion.<\/p>\n\n\n\n
The project, hyped by its community of supporters as the \u2018Ethereum Killer\u2019<\/em>, uses a unique technology involving a parallel data model and execution engine to enhance transaction scaling. Besides, the blockchain employs an object-centric model for processing parallel transactions.<\/p>\n\n\n\n
The unveiling has pumped the price of Binance\u2019s native BNB token upwards despite a bearish market momentum. At press time, the token was changing hands for $333, representing a jump of 3% in the past day.<\/p>\n","post_title":"Binance Launches SUI Farming With Staked BNB And TrueUSD","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-launches-sui-farming-with-staked-bnb-and-trueusd","to_ping":"","pinged":"","post_modified":"2023-05-04 13:03:20","post_modified_gmt":"2023-05-04 03:03:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 … 10 Next

Most Read

Altcoins

Ripple Challenges SEC’s Bid For Appeal In Legal Battle

September 3, 2023

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Artificial Intelligence

Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

August 15, 2024

Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
The prolonged legal battle is expected to shape the regulations for digital assets.<\/li>\n<\/ul>\n\n\n\n
JP Morgan viewed the court ruling for Ripple as a significant victory. However, according to the investment banking giant, the regulations by enforcement are far from over. <\/p>\n\n\n\n
On Thursday, the US Southern District Court ruled partially in favor of Ripple, the FinTech company that issues XRP. The SEC and Ripple's 2-year legal battle concluded with the ruling that cryptocurrency issuance on exchanges is not an investment contract.<\/p>\n\n\n\n
\"This ruling is undoubtedly a milestone win for the industry. It provides legal clarity and defense around what does and does not constitute a security, and that overall outcome is in favor of what many in the industry had been arguing,\"<\/em> JP Morgan wrote<\/a> in the note seen by Coindesk.<\/p>\n\n\n\n
Following the landmark ruling, the price of cryptocurrencies soared as sentiment changed in the digital asset space. The cost of XRP rose by about 70%, while Bitcoin reached its highest level in more than a year.<\/p>\n\n\n\n
SEC's Next Step<\/h2>\n\n\n\n
However, according to JPMorgan, the ruling may not be the end of what has come to be termed as regulations by enforcement by the SEC, as the regulator could appeal the case or bring similar charges against other cryptocurrency companies.<\/p>\n\n\n\n
In June, Binance, the leading crypto exchange, faced 13 charges from the SEC, one being the sale of unauthorized securities. The regulator sued Coinbase, the largest US cryptocurrency exchange, for security law violations. <\/p>\n\n\n\n
At the start of the year, the SEC brought charges<\/a> against Gemini and Genesis for allegedly violating the securities regulations related to crypto lending. In February, it\u00a0 fined crypto exchange Kraken<\/a>\u00a0$30 million and ordered the platform to cease offering staking services to US users.<\/p>\n","post_title":"Ripple-SEC Ruling \u2018A Win\u2019 For Crypto Industry But Regulatory War Not Over, JP Morgan Says","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-sec-ruling-a-win-for-crypto-industry-but-regulatory-war-not-over-jp-morgan-says","to_ping":"","pinged":"","post_modified":"2023-07-15 23:36:25","post_modified_gmt":"2023-07-15 13:36:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11929,"post_author":"15","post_date":"2023-06-08 22:45:46","post_date_gmt":"2023-06-08 12:45:46","post_content":"\n
Arbitrum, a layer 2 blockchain, halts the process of transactions due to funding issues. With over $2.24 billion in deposits, the network experiences an hour-long standstill due to gas shortage. <\/p>\n\n\n\n
Developers on the Arbitrum Discord server<\/a> faced connectivity issues with the network's sequencer. The software is responsible for bundling and confirming transactions on the Ethereum network.<\/p>\n\n\n\n
According to on-chain records<\/a>, the sequencer exhausted its supply of Ether, the native cryptocurrency of Ethereum used for transaction fees<\/a>. Without sufficient Ether to cover the fees, the sequencer could not process transactions on Ethereum, resulting in Arbitrum coming to a halt.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
What's Next to Arbitrum?<\/h2>\n\n\n\n
Following an hour-long period of transaction processing failure, Arbitrum has resumed its operations. A wallet that had previously transferred funds to the Arbitrum multi-signature wallet sent 1.4 Ether to the sequence. This replenishment enabled the sequencer to resume sending transactions to Ethereum.<\/p>\n\n\n\n
The cause behind the depletion of gas in Arbitrum's sequencer remains uncertain. Since its launch in May 2021, the sequencer has only been manually refuelled with Ether on four occasions.<\/p>\n\n\n\n
The recent event highlights the reliance of Arbitrum on a centralized control point. Offchain Labs, the company behind Arbitrum, has expressed its plans to decentralize the network's sequencer. <\/p>\n","post_title":"Arbitrum Faces Temporary Shutdown Due To Gas Shortage","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"arbitrum-faces-temporary-shutdown-due-to-gas-shortage","to_ping":"","pinged":"","post_modified":"2023-06-08 22:45:55","post_modified_gmt":"2023-06-08 12:45:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11929","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11770,"post_author":"13","post_date":"2023-05-18 00:31:26","post_date_gmt":"2023-05-17 14:31:26","post_content":"\n
\n
Judge Analisa Torres has declined a motion by the commission to seal essential documents in the legal tussle.  <\/li>\n\n\n\n
The price of the native XRP token has surged following the ruling.<\/li>\n<\/ul>\n\n\n\n
A US judge presiding over the case between Ripple and the Securities and Exchange Commission (SEC) has rejected a motion filed by the regulator to seal some of the essential documents.<\/p>\n\n\n\n
Judge Analisa Torres of the US District Court has disagreed<\/a> with SEC\u2019s move to seal Hinman\u2019s Speech documents, comprising emails, text messages, and expert reports, saying they were \u2018judicial documents\u2019 subject to a strong presumption of public access.<\/p>\n\n\n\n
As a recap, the SEC is suing<\/a> Ripple for selling unregistered securities. At the centre of the legal matter is a controversial speech by the former finance division director at the commission, William Hinman, who stated that Ether, the native cryptocurrency to the Ethereum blockchain, was not a security. The statement is believed to influence the much-awaited summary judgment considerably.<\/p>\n\n\n\n
The SEC\u2019s Position On The Matter<\/h2>\n\n\n\n
On December 22, the SEC filed a motion before Judge Torres to have all the documents containing Hinman\u2019s speech sealed from the public, saying they were irrelevant to the court\u2019s summary judgment. Further, the commission added that having the documents sealed preserved \u2018openness and candour\u2019, which the court has also rejected.<\/p>\n\n\n\n
\u2018\u2018Regardless of whether the court ultimately determines that the Hinman Speech Documents are admissible, or whether the court relies on the documents in ruling on the summary judgment motions, they are judicial documents subject to a strong presumption of public access because they are \u2018relevant to the performance of the judicial function and useful in the judicial process,'\" <\/em>read the ruling.<\/p>\n\n\n\n
XRP has added more than 5% in the past 24 hours following the development and was trading at $0.4487 at the time of writing. <\/p>\n","post_title":"Ripple Scores Major Victory In Case With The SEC As Court Denies Motion Filed By The Regulator","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-scores-major-victory-in-case-with-the-sec-as-court-denies-motion-filed-by-the-regulator","to_ping":"","pinged":"","post_modified":"2023-05-18 00:31:29","post_modified_gmt":"2023-05-17 14:31:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11770","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11728,"post_author":"12","post_date":"2023-05-15 16:06:43","post_date_gmt":"2023-05-15 06:06:43","post_content":"\n
A recent report<\/a> from Financial Times found that Worldcoin, a cryptocurrency project launched by OpenAI CEO Sam Altman, is close to securing $100M in funding. Those already backing the project include; a16z, Digital Currency Group and Coinbase Ventures; the new round of funding includes \u201cexisting and new investors.\u201d<\/em><\/p>\n\n\n\n
The project<\/a> was founded in 2020 by Sam Altman, Alex Blania, and Max Novendstern. With over 1,697,000 sign ups already, Worldcoin aims to build \"the world\u2019s largest identity and financial network as a public utility, giving ownership to everyone, [and] to create universal access to the global economy regardless of country or background, accelerating the transition to an economic future that welcomes and benefits every person on the planet.<\/em><\/p>\n\n\n\n
In March 2022, The Information\u00a0reported<\/a>\u00a0that the firm was looking to raise $100M\u00a0from investors through a private token sale, citing two people familiar with the situation. These sources stated that \u201cit\u2019s a bear market, a crypto winter. It\u2019s remarkable for a project in this space to get this amount of investment.\u201d<\/em><\/p>\n\n\n\n
Worldcoin Verification, Adoption, And Account Abstraction<\/h2>\n\n\n\nWorldcoin launched a gas-free crypto wallet in early May of 2023 called World App. This wallet relies on a system called World ID which uses zero-knowledge proofs to verify that you're a real human with either a phone number or iris scan. The gasless transactions rely upon account abstraction<\/a>, a popular protocol on Ethereum, under ERC-4337<\/a>.<\/p>\n\n\n\n
World App is also integrated with Uniswap, so users can swap currencies in the wallet.<\/p>\n\n\n\n
Worldcoin has been in its beta for some time now; within \"the next six weeks\" the blockchain protocol is expected to launch and with that, transactions will begin being recorded.<\/p>\n","post_title":"OpenAI's Sam Altman To Secure $100M For Worldcoin; Will Start Recording Transactions In 6 Weeks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openais-sam-altman-to-secure-100m-for-worldcoin-will-start-recording-transactions-in-6-weeks","to_ping":"","pinged":"","post_modified":"2023-05-15 16:06:46","post_modified_gmt":"2023-05-15 06:06:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11728","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11677,"post_author":"15","post_date":"2023-05-13 00:36:12","post_date_gmt":"2023-05-12 14:36:12","post_content":"\n
In the last 24 hours, $46.37 million worth of $PEPE has been deposited into exchanges. The meme coin has net deposits from 1,176 addresses amounting to $22.94 million. $PEPE has seen a significant drop of 31% in value, shrinking its market value to around $500 million, as reported <\/a>by ScopeProtocol.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/ScopeProtocol\/status\/1656916635134066688?s=20\n<\/div><\/figure>\n\n\n\n
$PEPE is a meme coin that has gained significant popularity in cryptocurrency. It has captured the attention of crypto enthusiasts and investors due to its unique and humorous nature.<\/p>\n\n\n\n
Despite its playful image, $PEPE has also experienced fluctuations in its market price. This volatility is characteristic of many memecoins, as trends, speculation, and the overall sentiment of the market can influence their prices.<\/p>\n\n\n\n
More On Memecoins<\/h2>\n\n\n\n
On May 11, 2023, @lookonchain<\/a>, a prominent cryptocurrency analyst, tweeted<\/a> about $PEPE and $LADYs (another meme coin). In his tweet, he praised how a cryptocurrency trader made huge profits trading meme coins. The trader bought $PEPE on Apr 18 and $LADYS before Elon Musk tweeted. In summary, his investment gained 36x on $PEPE and 35x on $LADYS. <\/p>\n\n\n\n
The meme coin phenomenon has emerged as a culture in the cryptocurrency space. We can notably refer to prominent meme coins like Dogecoin ($DOGE) and Shiba Inu ($SHIB). At the time of writing, these two cryptocurrencies ranked number 8 and number 15, respectively, according to Coinmarketcap. $DOGE and $SHIB have paved the way for other meme coins to gain traction in the crypto market.<\/p>\n","post_title":"Massive $PEPE Deposits Shake Crypto Exchanges; Market Value Plunges","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"massive-pepe-deposits-shake-crypto-exchanges-market-value-plunges","to_ping":"","pinged":"","post_modified":"2023-05-13 00:36:16","post_modified_gmt":"2023-05-12 14:36:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11677","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11401,"post_author":"13","post_date":"2023-05-02 11:29:00","post_date_gmt":"2023-05-02 01:29:00","post_content":"\n
\n
SUI farming will open for two days on BNB and TUSD pools beginning May 1.<\/li>\n\n\n\n
The token is expected to list afterward on Binance against BTC, USDT, TUSD, and BNB.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Binance has unveiled its 33rd project on Binance Luanchpoool, Sui, that allows users to farm SUI tokens using staked BNB and TrueUSD (TUSD).<\/p>\n\n\n\n
According to the announcement<\/a> on April 30, the farming of SUI tokens would run for 2 days beginning May 1. After that, the asset would be listed on Binance under trading pairs SUI\/BTC, SUI\/USDT, SUITUSD, and SUI\/BNB, subject to the relevant liquidity requirements.<\/p>\n\n\n\n
40 million SUI tokens are set for launchpool token rewards, 0.4% of the total token supply of 10 billion. So far, more than 9 million BNB tokens have been staked on the BNB pool, while the TUSD pool has more than 450 million staked TUSD.<\/p>\n\n\n\n
DPoS Layer-1 Blockchain<\/h2>\n\n\n\n
Sui<\/a> operates as a delegated proof of stake (DPoS) layer-1 blockchain<\/a> written on the Move programming language. The project has since raised $300 million in a series B funding round backed by Binance Labs and Coinbase - bringing its valuation to $2 billion.<\/p>\n\n\n\n
The project, hyped by its community of supporters as the \u2018Ethereum Killer\u2019<\/em>, uses a unique technology involving a parallel data model and execution engine to enhance transaction scaling. Besides, the blockchain employs an object-centric model for processing parallel transactions.<\/p>\n\n\n\n
The unveiling has pumped the price of Binance\u2019s native BNB token upwards despite a bearish market momentum. At press time, the token was changing hands for $333, representing a jump of 3% in the past day.<\/p>\n","post_title":"Binance Launches SUI Farming With Staked BNB And TrueUSD","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-launches-sui-farming-with-staked-bnb-and-trueusd","to_ping":"","pinged":"","post_modified":"2023-05-04 13:03:20","post_modified_gmt":"2023-05-04 03:03:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
Ripple scored a landmark victory over the regulator on Thursday.<\/li>\n\n\n\n
The prolonged legal battle is expected to shape the regulations for digital assets.<\/li>\n<\/ul>\n\n\n\n
JP Morgan viewed the court ruling for Ripple as a significant victory. However, according to the investment banking giant, the regulations by enforcement are far from over. <\/p>\n\n\n\n
On Thursday, the US Southern District Court ruled partially in favor of Ripple, the FinTech company that issues XRP. The SEC and Ripple's 2-year legal battle concluded with the ruling that cryptocurrency issuance on exchanges is not an investment contract.<\/p>\n\n\n\n
\"This ruling is undoubtedly a milestone win for the industry. It provides legal clarity and defense around what does and does not constitute a security, and that overall outcome is in favor of what many in the industry had been arguing,\"<\/em> JP Morgan wrote<\/a> in the note seen by Coindesk.<\/p>\n\n\n\n
Following the landmark ruling, the price of cryptocurrencies soared as sentiment changed in the digital asset space. The cost of XRP rose by about 70%, while Bitcoin reached its highest level in more than a year.<\/p>\n\n\n\n
SEC's Next Step<\/h2>\n\n\n\n
However, according to JPMorgan, the ruling may not be the end of what has come to be termed as regulations by enforcement by the SEC, as the regulator could appeal the case or bring similar charges against other cryptocurrency companies.<\/p>\n\n\n\n
In June, Binance, the leading crypto exchange, faced 13 charges from the SEC, one being the sale of unauthorized securities. The regulator sued Coinbase, the largest US cryptocurrency exchange, for security law violations. <\/p>\n\n\n\n
At the start of the year, the SEC brought charges<\/a> against Gemini and Genesis for allegedly violating the securities regulations related to crypto lending. In February, it\u00a0 fined crypto exchange Kraken<\/a>\u00a0$30 million and ordered the platform to cease offering staking services to US users.<\/p>\n","post_title":"Ripple-SEC Ruling \u2018A Win\u2019 For Crypto Industry But Regulatory War Not Over, JP Morgan Says","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-sec-ruling-a-win-for-crypto-industry-but-regulatory-war-not-over-jp-morgan-says","to_ping":"","pinged":"","post_modified":"2023-07-15 23:36:25","post_modified_gmt":"2023-07-15 13:36:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11929,"post_author":"15","post_date":"2023-06-08 22:45:46","post_date_gmt":"2023-06-08 12:45:46","post_content":"\n
Arbitrum, a layer 2 blockchain, halts the process of transactions due to funding issues. With over $2.24 billion in deposits, the network experiences an hour-long standstill due to gas shortage. <\/p>\n\n\n\n
Developers on the Arbitrum Discord server<\/a> faced connectivity issues with the network's sequencer. The software is responsible for bundling and confirming transactions on the Ethereum network.<\/p>\n\n\n\n
According to on-chain records<\/a>, the sequencer exhausted its supply of Ether, the native cryptocurrency of Ethereum used for transaction fees<\/a>. Without sufficient Ether to cover the fees, the sequencer could not process transactions on Ethereum, resulting in Arbitrum coming to a halt.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
What's Next to Arbitrum?<\/h2>\n\n\n\n
Following an hour-long period of transaction processing failure, Arbitrum has resumed its operations. A wallet that had previously transferred funds to the Arbitrum multi-signature wallet sent 1.4 Ether to the sequence. This replenishment enabled the sequencer to resume sending transactions to Ethereum.<\/p>\n\n\n\n
The cause behind the depletion of gas in Arbitrum's sequencer remains uncertain. Since its launch in May 2021, the sequencer has only been manually refuelled with Ether on four occasions.<\/p>\n\n\n\n
The recent event highlights the reliance of Arbitrum on a centralized control point. Offchain Labs, the company behind Arbitrum, has expressed its plans to decentralize the network's sequencer. <\/p>\n","post_title":"Arbitrum Faces Temporary Shutdown Due To Gas Shortage","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"arbitrum-faces-temporary-shutdown-due-to-gas-shortage","to_ping":"","pinged":"","post_modified":"2023-06-08 22:45:55","post_modified_gmt":"2023-06-08 12:45:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11929","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11770,"post_author":"13","post_date":"2023-05-18 00:31:26","post_date_gmt":"2023-05-17 14:31:26","post_content":"\n
\n
Judge Analisa Torres has declined a motion by the commission to seal essential documents in the legal tussle.  <\/li>\n\n\n\n
The price of the native XRP token has surged following the ruling.<\/li>\n<\/ul>\n\n\n\n
A US judge presiding over the case between Ripple and the Securities and Exchange Commission (SEC) has rejected a motion filed by the regulator to seal some of the essential documents.<\/p>\n\n\n\n
Judge Analisa Torres of the US District Court has disagreed<\/a> with SEC\u2019s move to seal Hinman\u2019s Speech documents, comprising emails, text messages, and expert reports, saying they were \u2018judicial documents\u2019 subject to a strong presumption of public access.<\/p>\n\n\n\n
As a recap, the SEC is suing<\/a> Ripple for selling unregistered securities. At the centre of the legal matter is a controversial speech by the former finance division director at the commission, William Hinman, who stated that Ether, the native cryptocurrency to the Ethereum blockchain, was not a security. The statement is believed to influence the much-awaited summary judgment considerably.<\/p>\n\n\n\n
The SEC\u2019s Position On The Matter<\/h2>\n\n\n\n
On December 22, the SEC filed a motion before Judge Torres to have all the documents containing Hinman\u2019s speech sealed from the public, saying they were irrelevant to the court\u2019s summary judgment. Further, the commission added that having the documents sealed preserved \u2018openness and candour\u2019, which the court has also rejected.<\/p>\n\n\n\n
\u2018\u2018Regardless of whether the court ultimately determines that the Hinman Speech Documents are admissible, or whether the court relies on the documents in ruling on the summary judgment motions, they are judicial documents subject to a strong presumption of public access because they are \u2018relevant to the performance of the judicial function and useful in the judicial process,'\" <\/em>read the ruling.<\/p>\n\n\n\n
XRP has added more than 5% in the past 24 hours following the development and was trading at $0.4487 at the time of writing. <\/p>\n","post_title":"Ripple Scores Major Victory In Case With The SEC As Court Denies Motion Filed By The Regulator","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-scores-major-victory-in-case-with-the-sec-as-court-denies-motion-filed-by-the-regulator","to_ping":"","pinged":"","post_modified":"2023-05-18 00:31:29","post_modified_gmt":"2023-05-17 14:31:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11770","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11728,"post_author":"12","post_date":"2023-05-15 16:06:43","post_date_gmt":"2023-05-15 06:06:43","post_content":"\n
A recent report<\/a> from Financial Times found that Worldcoin, a cryptocurrency project launched by OpenAI CEO Sam Altman, is close to securing $100M in funding. Those already backing the project include; a16z, Digital Currency Group and Coinbase Ventures; the new round of funding includes \u201cexisting and new investors.\u201d<\/em><\/p>\n\n\n\n
The project<\/a> was founded in 2020 by Sam Altman, Alex Blania, and Max Novendstern. With over 1,697,000 sign ups already, Worldcoin aims to build \"the world\u2019s largest identity and financial network as a public utility, giving ownership to everyone, [and] to create universal access to the global economy regardless of country or background, accelerating the transition to an economic future that welcomes and benefits every person on the planet.<\/em><\/p>\n\n\n\n
In March 2022, The Information\u00a0reported<\/a>\u00a0that the firm was looking to raise $100M\u00a0from investors through a private token sale, citing two people familiar with the situation. These sources stated that \u201cit\u2019s a bear market, a crypto winter. It\u2019s remarkable for a project in this space to get this amount of investment.\u201d<\/em><\/p>\n\n\n\n
Worldcoin Verification, Adoption, And Account Abstraction<\/h2>\n\n\n\nWorldcoin launched a gas-free crypto wallet in early May of 2023 called World App. This wallet relies on a system called World ID which uses zero-knowledge proofs to verify that you're a real human with either a phone number or iris scan. The gasless transactions rely upon account abstraction<\/a>, a popular protocol on Ethereum, under ERC-4337<\/a>.<\/p>\n\n\n\n
World App is also integrated with Uniswap, so users can swap currencies in the wallet.<\/p>\n\n\n\n
Worldcoin has been in its beta for some time now; within \"the next six weeks\" the blockchain protocol is expected to launch and with that, transactions will begin being recorded.<\/p>\n","post_title":"OpenAI's Sam Altman To Secure $100M For Worldcoin; Will Start Recording Transactions In 6 Weeks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openais-sam-altman-to-secure-100m-for-worldcoin-will-start-recording-transactions-in-6-weeks","to_ping":"","pinged":"","post_modified":"2023-05-15 16:06:46","post_modified_gmt":"2023-05-15 06:06:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11728","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11677,"post_author":"15","post_date":"2023-05-13 00:36:12","post_date_gmt":"2023-05-12 14:36:12","post_content":"\n
In the last 24 hours, $46.37 million worth of $PEPE has been deposited into exchanges. The meme coin has net deposits from 1,176 addresses amounting to $22.94 million. $PEPE has seen a significant drop of 31% in value, shrinking its market value to around $500 million, as reported <\/a>by ScopeProtocol.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/ScopeProtocol\/status\/1656916635134066688?s=20\n<\/div><\/figure>\n\n\n\n
$PEPE is a meme coin that has gained significant popularity in cryptocurrency. It has captured the attention of crypto enthusiasts and investors due to its unique and humorous nature.<\/p>\n\n\n\n
Despite its playful image, $PEPE has also experienced fluctuations in its market price. This volatility is characteristic of many memecoins, as trends, speculation, and the overall sentiment of the market can influence their prices.<\/p>\n\n\n\n
More On Memecoins<\/h2>\n\n\n\n
On May 11, 2023, @lookonchain<\/a>, a prominent cryptocurrency analyst, tweeted<\/a> about $PEPE and $LADYs (another meme coin). In his tweet, he praised how a cryptocurrency trader made huge profits trading meme coins. The trader bought $PEPE on Apr 18 and $LADYS before Elon Musk tweeted. In summary, his investment gained 36x on $PEPE and 35x on $LADYS. <\/p>\n\n\n\n
The meme coin phenomenon has emerged as a culture in the cryptocurrency space. We can notably refer to prominent meme coins like Dogecoin ($DOGE) and Shiba Inu ($SHIB). At the time of writing, these two cryptocurrencies ranked number 8 and number 15, respectively, according to Coinmarketcap. $DOGE and $SHIB have paved the way for other meme coins to gain traction in the crypto market.<\/p>\n","post_title":"Massive $PEPE Deposits Shake Crypto Exchanges; Market Value Plunges","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"massive-pepe-deposits-shake-crypto-exchanges-market-value-plunges","to_ping":"","pinged":"","post_modified":"2023-05-13 00:36:16","post_modified_gmt":"2023-05-12 14:36:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11677","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11401,"post_author":"13","post_date":"2023-05-02 11:29:00","post_date_gmt":"2023-05-02 01:29:00","post_content":"\n
\n
SUI farming will open for two days on BNB and TUSD pools beginning May 1.<\/li>\n\n\n\n
The token is expected to list afterward on Binance against BTC, USDT, TUSD, and BNB.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Binance has unveiled its 33rd project on Binance Luanchpoool, Sui, that allows users to farm SUI tokens using staked BNB and TrueUSD (TUSD).<\/p>\n\n\n\n
According to the announcement<\/a> on April 30, the farming of SUI tokens would run for 2 days beginning May 1. After that, the asset would be listed on Binance under trading pairs SUI\/BTC, SUI\/USDT, SUITUSD, and SUI\/BNB, subject to the relevant liquidity requirements.<\/p>\n\n\n\n
40 million SUI tokens are set for launchpool token rewards, 0.4% of the total token supply of 10 billion. So far, more than 9 million BNB tokens have been staked on the BNB pool, while the TUSD pool has more than 450 million staked TUSD.<\/p>\n\n\n\n
DPoS Layer-1 Blockchain<\/h2>\n\n\n\n
Sui<\/a> operates as a delegated proof of stake (DPoS) layer-1 blockchain<\/a> written on the Move programming language. The project has since raised $300 million in a series B funding round backed by Binance Labs and Coinbase - bringing its valuation to $2 billion.<\/p>\n\n\n\n
The project, hyped by its community of supporters as the \u2018Ethereum Killer\u2019<\/em>, uses a unique technology involving a parallel data model and execution engine to enhance transaction scaling. Besides, the blockchain employs an object-centric model for processing parallel transactions.<\/p>\n\n\n\n
The unveiling has pumped the price of Binance\u2019s native BNB token upwards despite a bearish market momentum. At press time, the token was changing hands for $333, representing a jump of 3% in the past day.<\/p>\n","post_title":"Binance Launches SUI Farming With Staked BNB And TrueUSD","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-launches-sui-farming-with-staked-bnb-and-trueusd","to_ping":"","pinged":"","post_modified":"2023-05-04 13:03:20","post_modified_gmt":"2023-05-04 03:03:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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Altcoins

Ripple Challenges SEC’s Bid For Appeal In Legal Battle

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November 24, 2024

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\n
\n
Ripple scored a landmark victory over the regulator on Thursday.<\/li>\n\n\n\n
The prolonged legal battle is expected to shape the regulations for digital assets.<\/li>\n<\/ul>\n\n\n\n
JP Morgan viewed the court ruling for Ripple as a significant victory. However, according to the investment banking giant, the regulations by enforcement are far from over. <\/p>\n\n\n\n
On Thursday, the US Southern District Court ruled partially in favor of Ripple, the FinTech company that issues XRP. The SEC and Ripple's 2-year legal battle concluded with the ruling that cryptocurrency issuance on exchanges is not an investment contract.<\/p>\n\n\n\n
\"This ruling is undoubtedly a milestone win for the industry. It provides legal clarity and defense around what does and does not constitute a security, and that overall outcome is in favor of what many in the industry had been arguing,\"<\/em> JP Morgan wrote<\/a> in the note seen by Coindesk.<\/p>\n\n\n\n
Following the landmark ruling, the price of cryptocurrencies soared as sentiment changed in the digital asset space. The cost of XRP rose by about 70%, while Bitcoin reached its highest level in more than a year.<\/p>\n\n\n\n
SEC's Next Step<\/h2>\n\n\n\n
However, according to JPMorgan, the ruling may not be the end of what has come to be termed as regulations by enforcement by the SEC, as the regulator could appeal the case or bring similar charges against other cryptocurrency companies.<\/p>\n\n\n\n
In June, Binance, the leading crypto exchange, faced 13 charges from the SEC, one being the sale of unauthorized securities. The regulator sued Coinbase, the largest US cryptocurrency exchange, for security law violations. <\/p>\n\n\n\n
At the start of the year, the SEC brought charges<\/a> against Gemini and Genesis for allegedly violating the securities regulations related to crypto lending. In February, it\u00a0 fined crypto exchange Kraken<\/a>\u00a0$30 million and ordered the platform to cease offering staking services to US users.<\/p>\n","post_title":"Ripple-SEC Ruling \u2018A Win\u2019 For Crypto Industry But Regulatory War Not Over, JP Morgan Says","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-sec-ruling-a-win-for-crypto-industry-but-regulatory-war-not-over-jp-morgan-says","to_ping":"","pinged":"","post_modified":"2023-07-15 23:36:25","post_modified_gmt":"2023-07-15 13:36:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11929,"post_author":"15","post_date":"2023-06-08 22:45:46","post_date_gmt":"2023-06-08 12:45:46","post_content":"\n
Arbitrum, a layer 2 blockchain, halts the process of transactions due to funding issues. With over $2.24 billion in deposits, the network experiences an hour-long standstill due to gas shortage. <\/p>\n\n\n\n
Developers on the Arbitrum Discord server<\/a> faced connectivity issues with the network's sequencer. The software is responsible for bundling and confirming transactions on the Ethereum network.<\/p>\n\n\n\n
According to on-chain records<\/a>, the sequencer exhausted its supply of Ether, the native cryptocurrency of Ethereum used for transaction fees<\/a>. Without sufficient Ether to cover the fees, the sequencer could not process transactions on Ethereum, resulting in Arbitrum coming to a halt.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
What's Next to Arbitrum?<\/h2>\n\n\n\n
Following an hour-long period of transaction processing failure, Arbitrum has resumed its operations. A wallet that had previously transferred funds to the Arbitrum multi-signature wallet sent 1.4 Ether to the sequence. This replenishment enabled the sequencer to resume sending transactions to Ethereum.<\/p>\n\n\n\n
The cause behind the depletion of gas in Arbitrum's sequencer remains uncertain. Since its launch in May 2021, the sequencer has only been manually refuelled with Ether on four occasions.<\/p>\n\n\n\n
The recent event highlights the reliance of Arbitrum on a centralized control point. Offchain Labs, the company behind Arbitrum, has expressed its plans to decentralize the network's sequencer. <\/p>\n","post_title":"Arbitrum Faces Temporary Shutdown Due To Gas Shortage","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"arbitrum-faces-temporary-shutdown-due-to-gas-shortage","to_ping":"","pinged":"","post_modified":"2023-06-08 22:45:55","post_modified_gmt":"2023-06-08 12:45:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11929","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11770,"post_author":"13","post_date":"2023-05-18 00:31:26","post_date_gmt":"2023-05-17 14:31:26","post_content":"\n
\n
Judge Analisa Torres has declined a motion by the commission to seal essential documents in the legal tussle.  <\/li>\n\n\n\n
The price of the native XRP token has surged following the ruling.<\/li>\n<\/ul>\n\n\n\n
A US judge presiding over the case between Ripple and the Securities and Exchange Commission (SEC) has rejected a motion filed by the regulator to seal some of the essential documents.<\/p>\n\n\n\n
Judge Analisa Torres of the US District Court has disagreed<\/a> with SEC\u2019s move to seal Hinman\u2019s Speech documents, comprising emails, text messages, and expert reports, saying they were \u2018judicial documents\u2019 subject to a strong presumption of public access.<\/p>\n\n\n\n
As a recap, the SEC is suing<\/a> Ripple for selling unregistered securities. At the centre of the legal matter is a controversial speech by the former finance division director at the commission, William Hinman, who stated that Ether, the native cryptocurrency to the Ethereum blockchain, was not a security. The statement is believed to influence the much-awaited summary judgment considerably.<\/p>\n\n\n\n
The SEC\u2019s Position On The Matter<\/h2>\n\n\n\n
On December 22, the SEC filed a motion before Judge Torres to have all the documents containing Hinman\u2019s speech sealed from the public, saying they were irrelevant to the court\u2019s summary judgment. Further, the commission added that having the documents sealed preserved \u2018openness and candour\u2019, which the court has also rejected.<\/p>\n\n\n\n
\u2018\u2018Regardless of whether the court ultimately determines that the Hinman Speech Documents are admissible, or whether the court relies on the documents in ruling on the summary judgment motions, they are judicial documents subject to a strong presumption of public access because they are \u2018relevant to the performance of the judicial function and useful in the judicial process,'\" <\/em>read the ruling.<\/p>\n\n\n\n
XRP has added more than 5% in the past 24 hours following the development and was trading at $0.4487 at the time of writing. <\/p>\n","post_title":"Ripple Scores Major Victory In Case With The SEC As Court Denies Motion Filed By The Regulator","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-scores-major-victory-in-case-with-the-sec-as-court-denies-motion-filed-by-the-regulator","to_ping":"","pinged":"","post_modified":"2023-05-18 00:31:29","post_modified_gmt":"2023-05-17 14:31:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11770","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11728,"post_author":"12","post_date":"2023-05-15 16:06:43","post_date_gmt":"2023-05-15 06:06:43","post_content":"\n
A recent report<\/a> from Financial Times found that Worldcoin, a cryptocurrency project launched by OpenAI CEO Sam Altman, is close to securing $100M in funding. Those already backing the project include; a16z, Digital Currency Group and Coinbase Ventures; the new round of funding includes \u201cexisting and new investors.\u201d<\/em><\/p>\n\n\n\n
The project<\/a> was founded in 2020 by Sam Altman, Alex Blania, and Max Novendstern. With over 1,697,000 sign ups already, Worldcoin aims to build \"the world\u2019s largest identity and financial network as a public utility, giving ownership to everyone, [and] to create universal access to the global economy regardless of country or background, accelerating the transition to an economic future that welcomes and benefits every person on the planet.<\/em><\/p>\n\n\n\n
In March 2022, The Information\u00a0reported<\/a>\u00a0that the firm was looking to raise $100M\u00a0from investors through a private token sale, citing two people familiar with the situation. These sources stated that \u201cit\u2019s a bear market, a crypto winter. It\u2019s remarkable for a project in this space to get this amount of investment.\u201d<\/em><\/p>\n\n\n\n
Worldcoin Verification, Adoption, And Account Abstraction<\/h2>\n\n\n\nWorldcoin launched a gas-free crypto wallet in early May of 2023 called World App. This wallet relies on a system called World ID which uses zero-knowledge proofs to verify that you're a real human with either a phone number or iris scan. The gasless transactions rely upon account abstraction<\/a>, a popular protocol on Ethereum, under ERC-4337<\/a>.<\/p>\n\n\n\n
World App is also integrated with Uniswap, so users can swap currencies in the wallet.<\/p>\n\n\n\n
Worldcoin has been in its beta for some time now; within \"the next six weeks\" the blockchain protocol is expected to launch and with that, transactions will begin being recorded.<\/p>\n","post_title":"OpenAI's Sam Altman To Secure $100M For Worldcoin; Will Start Recording Transactions In 6 Weeks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openais-sam-altman-to-secure-100m-for-worldcoin-will-start-recording-transactions-in-6-weeks","to_ping":"","pinged":"","post_modified":"2023-05-15 16:06:46","post_modified_gmt":"2023-05-15 06:06:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11728","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11677,"post_author":"15","post_date":"2023-05-13 00:36:12","post_date_gmt":"2023-05-12 14:36:12","post_content":"\n
In the last 24 hours, $46.37 million worth of $PEPE has been deposited into exchanges. The meme coin has net deposits from 1,176 addresses amounting to $22.94 million. $PEPE has seen a significant drop of 31% in value, shrinking its market value to around $500 million, as reported <\/a>by ScopeProtocol.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/ScopeProtocol\/status\/1656916635134066688?s=20\n<\/div><\/figure>\n\n\n\n
$PEPE is a meme coin that has gained significant popularity in cryptocurrency. It has captured the attention of crypto enthusiasts and investors due to its unique and humorous nature.<\/p>\n\n\n\n
Despite its playful image, $PEPE has also experienced fluctuations in its market price. This volatility is characteristic of many memecoins, as trends, speculation, and the overall sentiment of the market can influence their prices.<\/p>\n\n\n\n
More On Memecoins<\/h2>\n\n\n\n
On May 11, 2023, @lookonchain<\/a>, a prominent cryptocurrency analyst, tweeted<\/a> about $PEPE and $LADYs (another meme coin). In his tweet, he praised how a cryptocurrency trader made huge profits trading meme coins. The trader bought $PEPE on Apr 18 and $LADYS before Elon Musk tweeted. In summary, his investment gained 36x on $PEPE and 35x on $LADYS. <\/p>\n\n\n\n
The meme coin phenomenon has emerged as a culture in the cryptocurrency space. We can notably refer to prominent meme coins like Dogecoin ($DOGE) and Shiba Inu ($SHIB). At the time of writing, these two cryptocurrencies ranked number 8 and number 15, respectively, according to Coinmarketcap. $DOGE and $SHIB have paved the way for other meme coins to gain traction in the crypto market.<\/p>\n","post_title":"Massive $PEPE Deposits Shake Crypto Exchanges; Market Value Plunges","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"massive-pepe-deposits-shake-crypto-exchanges-market-value-plunges","to_ping":"","pinged":"","post_modified":"2023-05-13 00:36:16","post_modified_gmt":"2023-05-12 14:36:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11677","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11401,"post_author":"13","post_date":"2023-05-02 11:29:00","post_date_gmt":"2023-05-02 01:29:00","post_content":"\n
\n
SUI farming will open for two days on BNB and TUSD pools beginning May 1.<\/li>\n\n\n\n
The token is expected to list afterward on Binance against BTC, USDT, TUSD, and BNB.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Binance has unveiled its 33rd project on Binance Luanchpoool, Sui, that allows users to farm SUI tokens using staked BNB and TrueUSD (TUSD).<\/p>\n\n\n\n
According to the announcement<\/a> on April 30, the farming of SUI tokens would run for 2 days beginning May 1. After that, the asset would be listed on Binance under trading pairs SUI\/BTC, SUI\/USDT, SUITUSD, and SUI\/BNB, subject to the relevant liquidity requirements.<\/p>\n\n\n\n
40 million SUI tokens are set for launchpool token rewards, 0.4% of the total token supply of 10 billion. So far, more than 9 million BNB tokens have been staked on the BNB pool, while the TUSD pool has more than 450 million staked TUSD.<\/p>\n\n\n\n
DPoS Layer-1 Blockchain<\/h2>\n\n\n\n
Sui<\/a> operates as a delegated proof of stake (DPoS) layer-1 blockchain<\/a> written on the Move programming language. The project has since raised $300 million in a series B funding round backed by Binance Labs and Coinbase - bringing its valuation to $2 billion.<\/p>\n\n\n\n
The project, hyped by its community of supporters as the \u2018Ethereum Killer\u2019<\/em>, uses a unique technology involving a parallel data model and execution engine to enhance transaction scaling. Besides, the blockchain employs an object-centric model for processing parallel transactions.<\/p>\n\n\n\n
The unveiling has pumped the price of Binance\u2019s native BNB token upwards despite a bearish market momentum. At press time, the token was changing hands for $333, representing a jump of 3% in the past day.<\/p>\n","post_title":"Binance Launches SUI Farming With Staked BNB And TrueUSD","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-launches-sui-farming-with-staked-bnb-and-trueusd","to_ping":"","pinged":"","post_modified":"2023-05-04 13:03:20","post_modified_gmt":"2023-05-04 03:03:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 … 10 Next

Most Read

Altcoins

Ripple Challenges SEC’s Bid For Appeal In Legal Battle

September 3, 2023

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Artificial Intelligence

Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

August 15, 2024

Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

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By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

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\n
Meanwhile, Altman is eyeing a global expansion, with the OpenAI CEO targeting up to 2 billion users. The project has already earned over 2 million users from the beta sign-up period.  <\/p>\n","post_title":"Binance Lists OpenAI-Affiliated Worldcoin Amid High Market Speculation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-lists-openai-affiliated-worldcoin-amid-high-market-speculation","to_ping":"","pinged":"","post_modified":"2023-07-25 23:29:00","post_modified_gmt":"2023-07-25 13:29:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12708","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":12524,"post_author":"1","post_date":"2023-07-15 23:36:16","post_date_gmt":"2023-07-15 13:36:16","post_content":"\n
\n
Ripple scored a landmark victory over the regulator on Thursday.<\/li>\n\n\n\n
The prolonged legal battle is expected to shape the regulations for digital assets.<\/li>\n<\/ul>\n\n\n\n
JP Morgan viewed the court ruling for Ripple as a significant victory. However, according to the investment banking giant, the regulations by enforcement are far from over. <\/p>\n\n\n\n
On Thursday, the US Southern District Court ruled partially in favor of Ripple, the FinTech company that issues XRP. The SEC and Ripple's 2-year legal battle concluded with the ruling that cryptocurrency issuance on exchanges is not an investment contract.<\/p>\n\n\n\n
\"This ruling is undoubtedly a milestone win for the industry. It provides legal clarity and defense around what does and does not constitute a security, and that overall outcome is in favor of what many in the industry had been arguing,\"<\/em> JP Morgan wrote<\/a> in the note seen by Coindesk.<\/p>\n\n\n\n
Following the landmark ruling, the price of cryptocurrencies soared as sentiment changed in the digital asset space. The cost of XRP rose by about 70%, while Bitcoin reached its highest level in more than a year.<\/p>\n\n\n\n
SEC's Next Step<\/h2>\n\n\n\n
However, according to JPMorgan, the ruling may not be the end of what has come to be termed as regulations by enforcement by the SEC, as the regulator could appeal the case or bring similar charges against other cryptocurrency companies.<\/p>\n\n\n\n
In June, Binance, the leading crypto exchange, faced 13 charges from the SEC, one being the sale of unauthorized securities. The regulator sued Coinbase, the largest US cryptocurrency exchange, for security law violations. <\/p>\n\n\n\n
At the start of the year, the SEC brought charges<\/a> against Gemini and Genesis for allegedly violating the securities regulations related to crypto lending. In February, it\u00a0 fined crypto exchange Kraken<\/a>\u00a0$30 million and ordered the platform to cease offering staking services to US users.<\/p>\n","post_title":"Ripple-SEC Ruling \u2018A Win\u2019 For Crypto Industry But Regulatory War Not Over, JP Morgan Says","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-sec-ruling-a-win-for-crypto-industry-but-regulatory-war-not-over-jp-morgan-says","to_ping":"","pinged":"","post_modified":"2023-07-15 23:36:25","post_modified_gmt":"2023-07-15 13:36:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11929,"post_author":"15","post_date":"2023-06-08 22:45:46","post_date_gmt":"2023-06-08 12:45:46","post_content":"\n
Arbitrum, a layer 2 blockchain, halts the process of transactions due to funding issues. With over $2.24 billion in deposits, the network experiences an hour-long standstill due to gas shortage. <\/p>\n\n\n\n
Developers on the Arbitrum Discord server<\/a> faced connectivity issues with the network's sequencer. The software is responsible for bundling and confirming transactions on the Ethereum network.<\/p>\n\n\n\n
According to on-chain records<\/a>, the sequencer exhausted its supply of Ether, the native cryptocurrency of Ethereum used for transaction fees<\/a>. Without sufficient Ether to cover the fees, the sequencer could not process transactions on Ethereum, resulting in Arbitrum coming to a halt.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
What's Next to Arbitrum?<\/h2>\n\n\n\n
Following an hour-long period of transaction processing failure, Arbitrum has resumed its operations. A wallet that had previously transferred funds to the Arbitrum multi-signature wallet sent 1.4 Ether to the sequence. This replenishment enabled the sequencer to resume sending transactions to Ethereum.<\/p>\n\n\n\n
The cause behind the depletion of gas in Arbitrum's sequencer remains uncertain. Since its launch in May 2021, the sequencer has only been manually refuelled with Ether on four occasions.<\/p>\n\n\n\n
The recent event highlights the reliance of Arbitrum on a centralized control point. Offchain Labs, the company behind Arbitrum, has expressed its plans to decentralize the network's sequencer. <\/p>\n","post_title":"Arbitrum Faces Temporary Shutdown Due To Gas Shortage","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"arbitrum-faces-temporary-shutdown-due-to-gas-shortage","to_ping":"","pinged":"","post_modified":"2023-06-08 22:45:55","post_modified_gmt":"2023-06-08 12:45:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11929","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11770,"post_author":"13","post_date":"2023-05-18 00:31:26","post_date_gmt":"2023-05-17 14:31:26","post_content":"\n
\n
Judge Analisa Torres has declined a motion by the commission to seal essential documents in the legal tussle.  <\/li>\n\n\n\n
The price of the native XRP token has surged following the ruling.<\/li>\n<\/ul>\n\n\n\n
A US judge presiding over the case between Ripple and the Securities and Exchange Commission (SEC) has rejected a motion filed by the regulator to seal some of the essential documents.<\/p>\n\n\n\n
Judge Analisa Torres of the US District Court has disagreed<\/a> with SEC\u2019s move to seal Hinman\u2019s Speech documents, comprising emails, text messages, and expert reports, saying they were \u2018judicial documents\u2019 subject to a strong presumption of public access.<\/p>\n\n\n\n
As a recap, the SEC is suing<\/a> Ripple for selling unregistered securities. At the centre of the legal matter is a controversial speech by the former finance division director at the commission, William Hinman, who stated that Ether, the native cryptocurrency to the Ethereum blockchain, was not a security. The statement is believed to influence the much-awaited summary judgment considerably.<\/p>\n\n\n\n
The SEC\u2019s Position On The Matter<\/h2>\n\n\n\n
On December 22, the SEC filed a motion before Judge Torres to have all the documents containing Hinman\u2019s speech sealed from the public, saying they were irrelevant to the court\u2019s summary judgment. Further, the commission added that having the documents sealed preserved \u2018openness and candour\u2019, which the court has also rejected.<\/p>\n\n\n\n
\u2018\u2018Regardless of whether the court ultimately determines that the Hinman Speech Documents are admissible, or whether the court relies on the documents in ruling on the summary judgment motions, they are judicial documents subject to a strong presumption of public access because they are \u2018relevant to the performance of the judicial function and useful in the judicial process,'\" <\/em>read the ruling.<\/p>\n\n\n\n
XRP has added more than 5% in the past 24 hours following the development and was trading at $0.4487 at the time of writing. <\/p>\n","post_title":"Ripple Scores Major Victory In Case With The SEC As Court Denies Motion Filed By The Regulator","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-scores-major-victory-in-case-with-the-sec-as-court-denies-motion-filed-by-the-regulator","to_ping":"","pinged":"","post_modified":"2023-05-18 00:31:29","post_modified_gmt":"2023-05-17 14:31:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11770","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11728,"post_author":"12","post_date":"2023-05-15 16:06:43","post_date_gmt":"2023-05-15 06:06:43","post_content":"\n
A recent report<\/a> from Financial Times found that Worldcoin, a cryptocurrency project launched by OpenAI CEO Sam Altman, is close to securing $100M in funding. Those already backing the project include; a16z, Digital Currency Group and Coinbase Ventures; the new round of funding includes \u201cexisting and new investors.\u201d<\/em><\/p>\n\n\n\n
The project<\/a> was founded in 2020 by Sam Altman, Alex Blania, and Max Novendstern. With over 1,697,000 sign ups already, Worldcoin aims to build \"the world\u2019s largest identity and financial network as a public utility, giving ownership to everyone, [and] to create universal access to the global economy regardless of country or background, accelerating the transition to an economic future that welcomes and benefits every person on the planet.<\/em><\/p>\n\n\n\n
In March 2022, The Information\u00a0reported<\/a>\u00a0that the firm was looking to raise $100M\u00a0from investors through a private token sale, citing two people familiar with the situation. These sources stated that \u201cit\u2019s a bear market, a crypto winter. It\u2019s remarkable for a project in this space to get this amount of investment.\u201d<\/em><\/p>\n\n\n\n
Worldcoin Verification, Adoption, And Account Abstraction<\/h2>\n\n\n\nWorldcoin launched a gas-free crypto wallet in early May of 2023 called World App. This wallet relies on a system called World ID which uses zero-knowledge proofs to verify that you're a real human with either a phone number or iris scan. The gasless transactions rely upon account abstraction<\/a>, a popular protocol on Ethereum, under ERC-4337<\/a>.<\/p>\n\n\n\n
World App is also integrated with Uniswap, so users can swap currencies in the wallet.<\/p>\n\n\n\n
Worldcoin has been in its beta for some time now; within \"the next six weeks\" the blockchain protocol is expected to launch and with that, transactions will begin being recorded.<\/p>\n","post_title":"OpenAI's Sam Altman To Secure $100M For Worldcoin; Will Start Recording Transactions In 6 Weeks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openais-sam-altman-to-secure-100m-for-worldcoin-will-start-recording-transactions-in-6-weeks","to_ping":"","pinged":"","post_modified":"2023-05-15 16:06:46","post_modified_gmt":"2023-05-15 06:06:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11728","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11677,"post_author":"15","post_date":"2023-05-13 00:36:12","post_date_gmt":"2023-05-12 14:36:12","post_content":"\n
In the last 24 hours, $46.37 million worth of $PEPE has been deposited into exchanges. The meme coin has net deposits from 1,176 addresses amounting to $22.94 million. $PEPE has seen a significant drop of 31% in value, shrinking its market value to around $500 million, as reported <\/a>by ScopeProtocol.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/ScopeProtocol\/status\/1656916635134066688?s=20\n<\/div><\/figure>\n\n\n\n
$PEPE is a meme coin that has gained significant popularity in cryptocurrency. It has captured the attention of crypto enthusiasts and investors due to its unique and humorous nature.<\/p>\n\n\n\n
Despite its playful image, $PEPE has also experienced fluctuations in its market price. This volatility is characteristic of many memecoins, as trends, speculation, and the overall sentiment of the market can influence their prices.<\/p>\n\n\n\n
More On Memecoins<\/h2>\n\n\n\n
On May 11, 2023, @lookonchain<\/a>, a prominent cryptocurrency analyst, tweeted<\/a> about $PEPE and $LADYs (another meme coin). In his tweet, he praised how a cryptocurrency trader made huge profits trading meme coins. The trader bought $PEPE on Apr 18 and $LADYS before Elon Musk tweeted. In summary, his investment gained 36x on $PEPE and 35x on $LADYS. <\/p>\n\n\n\n
The meme coin phenomenon has emerged as a culture in the cryptocurrency space. We can notably refer to prominent meme coins like Dogecoin ($DOGE) and Shiba Inu ($SHIB). At the time of writing, these two cryptocurrencies ranked number 8 and number 15, respectively, according to Coinmarketcap. $DOGE and $SHIB have paved the way for other meme coins to gain traction in the crypto market.<\/p>\n","post_title":"Massive $PEPE Deposits Shake Crypto Exchanges; Market Value Plunges","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"massive-pepe-deposits-shake-crypto-exchanges-market-value-plunges","to_ping":"","pinged":"","post_modified":"2023-05-13 00:36:16","post_modified_gmt":"2023-05-12 14:36:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11677","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11401,"post_author":"13","post_date":"2023-05-02 11:29:00","post_date_gmt":"2023-05-02 01:29:00","post_content":"\n
\n
SUI farming will open for two days on BNB and TUSD pools beginning May 1.<\/li>\n\n\n\n
The token is expected to list afterward on Binance against BTC, USDT, TUSD, and BNB.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Binance has unveiled its 33rd project on Binance Luanchpoool, Sui, that allows users to farm SUI tokens using staked BNB and TrueUSD (TUSD).<\/p>\n\n\n\n
According to the announcement<\/a> on April 30, the farming of SUI tokens would run for 2 days beginning May 1. After that, the asset would be listed on Binance under trading pairs SUI\/BTC, SUI\/USDT, SUITUSD, and SUI\/BNB, subject to the relevant liquidity requirements.<\/p>\n\n\n\n
40 million SUI tokens are set for launchpool token rewards, 0.4% of the total token supply of 10 billion. So far, more than 9 million BNB tokens have been staked on the BNB pool, while the TUSD pool has more than 450 million staked TUSD.<\/p>\n\n\n\n
DPoS Layer-1 Blockchain<\/h2>\n\n\n\n
Sui<\/a> operates as a delegated proof of stake (DPoS) layer-1 blockchain<\/a> written on the Move programming language. The project has since raised $300 million in a series B funding round backed by Binance Labs and Coinbase - bringing its valuation to $2 billion.<\/p>\n\n\n\n
The project, hyped by its community of supporters as the \u2018Ethereum Killer\u2019<\/em>, uses a unique technology involving a parallel data model and execution engine to enhance transaction scaling. Besides, the blockchain employs an object-centric model for processing parallel transactions.<\/p>\n\n\n\n
The unveiling has pumped the price of Binance\u2019s native BNB token upwards despite a bearish market momentum. At press time, the token was changing hands for $333, representing a jump of 3% in the past day.<\/p>\n","post_title":"Binance Launches SUI Farming With Staked BNB And TrueUSD","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-launches-sui-farming-with-staked-bnb-and-trueusd","to_ping":"","pinged":"","post_modified":"2023-05-04 13:03:20","post_modified_gmt":"2023-05-04 03:03:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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Altcoins

Ripple Challenges SEC’s Bid For Appeal In Legal Battle

September 3, 2023

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

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December 19, 2024

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Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

August 15, 2024

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November 24, 2024

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\n
Altman believes Worldcoin would offer a reliable way to distinguish humans from bots while protecting privacy. It will also reduce fraud since only real people can own World IDs.<\/p>\n\n\n\n
Meanwhile, Altman is eyeing a global expansion, with the OpenAI CEO targeting up to 2 billion users. The project has already earned over 2 million users from the beta sign-up period.  <\/p>\n","post_title":"Binance Lists OpenAI-Affiliated Worldcoin Amid High Market Speculation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-lists-openai-affiliated-worldcoin-amid-high-market-speculation","to_ping":"","pinged":"","post_modified":"2023-07-25 23:29:00","post_modified_gmt":"2023-07-25 13:29:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12708","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":12524,"post_author":"1","post_date":"2023-07-15 23:36:16","post_date_gmt":"2023-07-15 13:36:16","post_content":"\n
\n
Ripple scored a landmark victory over the regulator on Thursday.<\/li>\n\n\n\n
The prolonged legal battle is expected to shape the regulations for digital assets.<\/li>\n<\/ul>\n\n\n\n
JP Morgan viewed the court ruling for Ripple as a significant victory. However, according to the investment banking giant, the regulations by enforcement are far from over. <\/p>\n\n\n\n
On Thursday, the US Southern District Court ruled partially in favor of Ripple, the FinTech company that issues XRP. The SEC and Ripple's 2-year legal battle concluded with the ruling that cryptocurrency issuance on exchanges is not an investment contract.<\/p>\n\n\n\n
\"This ruling is undoubtedly a milestone win for the industry. It provides legal clarity and defense around what does and does not constitute a security, and that overall outcome is in favor of what many in the industry had been arguing,\"<\/em> JP Morgan wrote<\/a> in the note seen by Coindesk.<\/p>\n\n\n\n
Following the landmark ruling, the price of cryptocurrencies soared as sentiment changed in the digital asset space. The cost of XRP rose by about 70%, while Bitcoin reached its highest level in more than a year.<\/p>\n\n\n\n
SEC's Next Step<\/h2>\n\n\n\n
However, according to JPMorgan, the ruling may not be the end of what has come to be termed as regulations by enforcement by the SEC, as the regulator could appeal the case or bring similar charges against other cryptocurrency companies.<\/p>\n\n\n\n
In June, Binance, the leading crypto exchange, faced 13 charges from the SEC, one being the sale of unauthorized securities. The regulator sued Coinbase, the largest US cryptocurrency exchange, for security law violations. <\/p>\n\n\n\n
At the start of the year, the SEC brought charges<\/a> against Gemini and Genesis for allegedly violating the securities regulations related to crypto lending. In February, it\u00a0 fined crypto exchange Kraken<\/a>\u00a0$30 million and ordered the platform to cease offering staking services to US users.<\/p>\n","post_title":"Ripple-SEC Ruling \u2018A Win\u2019 For Crypto Industry But Regulatory War Not Over, JP Morgan Says","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-sec-ruling-a-win-for-crypto-industry-but-regulatory-war-not-over-jp-morgan-says","to_ping":"","pinged":"","post_modified":"2023-07-15 23:36:25","post_modified_gmt":"2023-07-15 13:36:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11929,"post_author":"15","post_date":"2023-06-08 22:45:46","post_date_gmt":"2023-06-08 12:45:46","post_content":"\n
Arbitrum, a layer 2 blockchain, halts the process of transactions due to funding issues. With over $2.24 billion in deposits, the network experiences an hour-long standstill due to gas shortage. <\/p>\n\n\n\n
Developers on the Arbitrum Discord server<\/a> faced connectivity issues with the network's sequencer. The software is responsible for bundling and confirming transactions on the Ethereum network.<\/p>\n\n\n\n
According to on-chain records<\/a>, the sequencer exhausted its supply of Ether, the native cryptocurrency of Ethereum used for transaction fees<\/a>. Without sufficient Ether to cover the fees, the sequencer could not process transactions on Ethereum, resulting in Arbitrum coming to a halt.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
What's Next to Arbitrum?<\/h2>\n\n\n\n
Following an hour-long period of transaction processing failure, Arbitrum has resumed its operations. A wallet that had previously transferred funds to the Arbitrum multi-signature wallet sent 1.4 Ether to the sequence. This replenishment enabled the sequencer to resume sending transactions to Ethereum.<\/p>\n\n\n\n
The cause behind the depletion of gas in Arbitrum's sequencer remains uncertain. Since its launch in May 2021, the sequencer has only been manually refuelled with Ether on four occasions.<\/p>\n\n\n\n
The recent event highlights the reliance of Arbitrum on a centralized control point. Offchain Labs, the company behind Arbitrum, has expressed its plans to decentralize the network's sequencer. <\/p>\n","post_title":"Arbitrum Faces Temporary Shutdown Due To Gas Shortage","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"arbitrum-faces-temporary-shutdown-due-to-gas-shortage","to_ping":"","pinged":"","post_modified":"2023-06-08 22:45:55","post_modified_gmt":"2023-06-08 12:45:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11929","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11770,"post_author":"13","post_date":"2023-05-18 00:31:26","post_date_gmt":"2023-05-17 14:31:26","post_content":"\n
\n
Judge Analisa Torres has declined a motion by the commission to seal essential documents in the legal tussle.  <\/li>\n\n\n\n
The price of the native XRP token has surged following the ruling.<\/li>\n<\/ul>\n\n\n\n
A US judge presiding over the case between Ripple and the Securities and Exchange Commission (SEC) has rejected a motion filed by the regulator to seal some of the essential documents.<\/p>\n\n\n\n
Judge Analisa Torres of the US District Court has disagreed<\/a> with SEC\u2019s move to seal Hinman\u2019s Speech documents, comprising emails, text messages, and expert reports, saying they were \u2018judicial documents\u2019 subject to a strong presumption of public access.<\/p>\n\n\n\n
As a recap, the SEC is suing<\/a> Ripple for selling unregistered securities. At the centre of the legal matter is a controversial speech by the former finance division director at the commission, William Hinman, who stated that Ether, the native cryptocurrency to the Ethereum blockchain, was not a security. The statement is believed to influence the much-awaited summary judgment considerably.<\/p>\n\n\n\n
The SEC\u2019s Position On The Matter<\/h2>\n\n\n\n
On December 22, the SEC filed a motion before Judge Torres to have all the documents containing Hinman\u2019s speech sealed from the public, saying they were irrelevant to the court\u2019s summary judgment. Further, the commission added that having the documents sealed preserved \u2018openness and candour\u2019, which the court has also rejected.<\/p>\n\n\n\n
\u2018\u2018Regardless of whether the court ultimately determines that the Hinman Speech Documents are admissible, or whether the court relies on the documents in ruling on the summary judgment motions, they are judicial documents subject to a strong presumption of public access because they are \u2018relevant to the performance of the judicial function and useful in the judicial process,'\" <\/em>read the ruling.<\/p>\n\n\n\n
XRP has added more than 5% in the past 24 hours following the development and was trading at $0.4487 at the time of writing. <\/p>\n","post_title":"Ripple Scores Major Victory In Case With The SEC As Court Denies Motion Filed By The Regulator","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-scores-major-victory-in-case-with-the-sec-as-court-denies-motion-filed-by-the-regulator","to_ping":"","pinged":"","post_modified":"2023-05-18 00:31:29","post_modified_gmt":"2023-05-17 14:31:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11770","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11728,"post_author":"12","post_date":"2023-05-15 16:06:43","post_date_gmt":"2023-05-15 06:06:43","post_content":"\n
A recent report<\/a> from Financial Times found that Worldcoin, a cryptocurrency project launched by OpenAI CEO Sam Altman, is close to securing $100M in funding. Those already backing the project include; a16z, Digital Currency Group and Coinbase Ventures; the new round of funding includes \u201cexisting and new investors.\u201d<\/em><\/p>\n\n\n\n
The project<\/a> was founded in 2020 by Sam Altman, Alex Blania, and Max Novendstern. With over 1,697,000 sign ups already, Worldcoin aims to build \"the world\u2019s largest identity and financial network as a public utility, giving ownership to everyone, [and] to create universal access to the global economy regardless of country or background, accelerating the transition to an economic future that welcomes and benefits every person on the planet.<\/em><\/p>\n\n\n\n
In March 2022, The Information\u00a0reported<\/a>\u00a0that the firm was looking to raise $100M\u00a0from investors through a private token sale, citing two people familiar with the situation. These sources stated that \u201cit\u2019s a bear market, a crypto winter. It\u2019s remarkable for a project in this space to get this amount of investment.\u201d<\/em><\/p>\n\n\n\n
Worldcoin Verification, Adoption, And Account Abstraction<\/h2>\n\n\n\nWorldcoin launched a gas-free crypto wallet in early May of 2023 called World App. This wallet relies on a system called World ID which uses zero-knowledge proofs to verify that you're a real human with either a phone number or iris scan. The gasless transactions rely upon account abstraction<\/a>, a popular protocol on Ethereum, under ERC-4337<\/a>.<\/p>\n\n\n\n
World App is also integrated with Uniswap, so users can swap currencies in the wallet.<\/p>\n\n\n\n
Worldcoin has been in its beta for some time now; within \"the next six weeks\" the blockchain protocol is expected to launch and with that, transactions will begin being recorded.<\/p>\n","post_title":"OpenAI's Sam Altman To Secure $100M For Worldcoin; Will Start Recording Transactions In 6 Weeks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openais-sam-altman-to-secure-100m-for-worldcoin-will-start-recording-transactions-in-6-weeks","to_ping":"","pinged":"","post_modified":"2023-05-15 16:06:46","post_modified_gmt":"2023-05-15 06:06:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11728","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11677,"post_author":"15","post_date":"2023-05-13 00:36:12","post_date_gmt":"2023-05-12 14:36:12","post_content":"\n
In the last 24 hours, $46.37 million worth of $PEPE has been deposited into exchanges. The meme coin has net deposits from 1,176 addresses amounting to $22.94 million. $PEPE has seen a significant drop of 31% in value, shrinking its market value to around $500 million, as reported <\/a>by ScopeProtocol.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/ScopeProtocol\/status\/1656916635134066688?s=20\n<\/div><\/figure>\n\n\n\n
$PEPE is a meme coin that has gained significant popularity in cryptocurrency. It has captured the attention of crypto enthusiasts and investors due to its unique and humorous nature.<\/p>\n\n\n\n
Despite its playful image, $PEPE has also experienced fluctuations in its market price. This volatility is characteristic of many memecoins, as trends, speculation, and the overall sentiment of the market can influence their prices.<\/p>\n\n\n\n
More On Memecoins<\/h2>\n\n\n\n
On May 11, 2023, @lookonchain<\/a>, a prominent cryptocurrency analyst, tweeted<\/a> about $PEPE and $LADYs (another meme coin). In his tweet, he praised how a cryptocurrency trader made huge profits trading meme coins. The trader bought $PEPE on Apr 18 and $LADYS before Elon Musk tweeted. In summary, his investment gained 36x on $PEPE and 35x on $LADYS. <\/p>\n\n\n\n
The meme coin phenomenon has emerged as a culture in the cryptocurrency space. We can notably refer to prominent meme coins like Dogecoin ($DOGE) and Shiba Inu ($SHIB). At the time of writing, these two cryptocurrencies ranked number 8 and number 15, respectively, according to Coinmarketcap. $DOGE and $SHIB have paved the way for other meme coins to gain traction in the crypto market.<\/p>\n","post_title":"Massive $PEPE Deposits Shake Crypto Exchanges; Market Value Plunges","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"massive-pepe-deposits-shake-crypto-exchanges-market-value-plunges","to_ping":"","pinged":"","post_modified":"2023-05-13 00:36:16","post_modified_gmt":"2023-05-12 14:36:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11677","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11401,"post_author":"13","post_date":"2023-05-02 11:29:00","post_date_gmt":"2023-05-02 01:29:00","post_content":"\n
\n
SUI farming will open for two days on BNB and TUSD pools beginning May 1.<\/li>\n\n\n\n
The token is expected to list afterward on Binance against BTC, USDT, TUSD, and BNB.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Binance has unveiled its 33rd project on Binance Luanchpoool, Sui, that allows users to farm SUI tokens using staked BNB and TrueUSD (TUSD).<\/p>\n\n\n\n
According to the announcement<\/a> on April 30, the farming of SUI tokens would run for 2 days beginning May 1. After that, the asset would be listed on Binance under trading pairs SUI\/BTC, SUI\/USDT, SUITUSD, and SUI\/BNB, subject to the relevant liquidity requirements.<\/p>\n\n\n\n
40 million SUI tokens are set for launchpool token rewards, 0.4% of the total token supply of 10 billion. So far, more than 9 million BNB tokens have been staked on the BNB pool, while the TUSD pool has more than 450 million staked TUSD.<\/p>\n\n\n\n
DPoS Layer-1 Blockchain<\/h2>\n\n\n\n
Sui<\/a> operates as a delegated proof of stake (DPoS) layer-1 blockchain<\/a> written on the Move programming language. The project has since raised $300 million in a series B funding round backed by Binance Labs and Coinbase - bringing its valuation to $2 billion.<\/p>\n\n\n\n
The project, hyped by its community of supporters as the \u2018Ethereum Killer\u2019<\/em>, uses a unique technology involving a parallel data model and execution engine to enhance transaction scaling. Besides, the blockchain employs an object-centric model for processing parallel transactions.<\/p>\n\n\n\n
The unveiling has pumped the price of Binance\u2019s native BNB token upwards despite a bearish market momentum. At press time, the token was changing hands for $333, representing a jump of 3% in the past day.<\/p>\n","post_title":"Binance Launches SUI Farming With Staked BNB And TrueUSD","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-launches-sui-farming-with-staked-bnb-and-trueusd","to_ping":"","pinged":"","post_modified":"2023-05-04 13:03:20","post_modified_gmt":"2023-05-04 03:03:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 … 10 Next

Most Read

Altcoins

Ripple Challenges SEC’s Bid For Appeal In Legal Battle

September 3, 2023

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Artificial Intelligence

Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

August 15, 2024

Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

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Follow The Distributed

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ADVERTISEMENT

\n
Worldcoin uses a device called \"The Orb\" to scan people's irises, generating a personally identifiable Worldcoin ID. The functionality has, however, been criticized for potential security and privacy violations. <\/p>\n\n\n\n
Altman believes Worldcoin would offer a reliable way to distinguish humans from bots while protecting privacy. It will also reduce fraud since only real people can own World IDs.<\/p>\n\n\n\n
Meanwhile, Altman is eyeing a global expansion, with the OpenAI CEO targeting up to 2 billion users. The project has already earned over 2 million users from the beta sign-up period.  <\/p>\n","post_title":"Binance Lists OpenAI-Affiliated Worldcoin Amid High Market Speculation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-lists-openai-affiliated-worldcoin-amid-high-market-speculation","to_ping":"","pinged":"","post_modified":"2023-07-25 23:29:00","post_modified_gmt":"2023-07-25 13:29:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12708","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":12524,"post_author":"1","post_date":"2023-07-15 23:36:16","post_date_gmt":"2023-07-15 13:36:16","post_content":"\n
\n
Ripple scored a landmark victory over the regulator on Thursday.<\/li>\n\n\n\n
The prolonged legal battle is expected to shape the regulations for digital assets.<\/li>\n<\/ul>\n\n\n\n
JP Morgan viewed the court ruling for Ripple as a significant victory. However, according to the investment banking giant, the regulations by enforcement are far from over. <\/p>\n\n\n\n
On Thursday, the US Southern District Court ruled partially in favor of Ripple, the FinTech company that issues XRP. The SEC and Ripple's 2-year legal battle concluded with the ruling that cryptocurrency issuance on exchanges is not an investment contract.<\/p>\n\n\n\n
\"This ruling is undoubtedly a milestone win for the industry. It provides legal clarity and defense around what does and does not constitute a security, and that overall outcome is in favor of what many in the industry had been arguing,\"<\/em> JP Morgan wrote<\/a> in the note seen by Coindesk.<\/p>\n\n\n\n
Following the landmark ruling, the price of cryptocurrencies soared as sentiment changed in the digital asset space. The cost of XRP rose by about 70%, while Bitcoin reached its highest level in more than a year.<\/p>\n\n\n\n
SEC's Next Step<\/h2>\n\n\n\n
However, according to JPMorgan, the ruling may not be the end of what has come to be termed as regulations by enforcement by the SEC, as the regulator could appeal the case or bring similar charges against other cryptocurrency companies.<\/p>\n\n\n\n
In June, Binance, the leading crypto exchange, faced 13 charges from the SEC, one being the sale of unauthorized securities. The regulator sued Coinbase, the largest US cryptocurrency exchange, for security law violations. <\/p>\n\n\n\n
At the start of the year, the SEC brought charges<\/a> against Gemini and Genesis for allegedly violating the securities regulations related to crypto lending. In February, it\u00a0 fined crypto exchange Kraken<\/a>\u00a0$30 million and ordered the platform to cease offering staking services to US users.<\/p>\n","post_title":"Ripple-SEC Ruling \u2018A Win\u2019 For Crypto Industry But Regulatory War Not Over, JP Morgan Says","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-sec-ruling-a-win-for-crypto-industry-but-regulatory-war-not-over-jp-morgan-says","to_ping":"","pinged":"","post_modified":"2023-07-15 23:36:25","post_modified_gmt":"2023-07-15 13:36:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11929,"post_author":"15","post_date":"2023-06-08 22:45:46","post_date_gmt":"2023-06-08 12:45:46","post_content":"\n
Arbitrum, a layer 2 blockchain, halts the process of transactions due to funding issues. With over $2.24 billion in deposits, the network experiences an hour-long standstill due to gas shortage. <\/p>\n\n\n\n
Developers on the Arbitrum Discord server<\/a> faced connectivity issues with the network's sequencer. The software is responsible for bundling and confirming transactions on the Ethereum network.<\/p>\n\n\n\n
According to on-chain records<\/a>, the sequencer exhausted its supply of Ether, the native cryptocurrency of Ethereum used for transaction fees<\/a>. Without sufficient Ether to cover the fees, the sequencer could not process transactions on Ethereum, resulting in Arbitrum coming to a halt.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
What's Next to Arbitrum?<\/h2>\n\n\n\n
Following an hour-long period of transaction processing failure, Arbitrum has resumed its operations. A wallet that had previously transferred funds to the Arbitrum multi-signature wallet sent 1.4 Ether to the sequence. This replenishment enabled the sequencer to resume sending transactions to Ethereum.<\/p>\n\n\n\n
The cause behind the depletion of gas in Arbitrum's sequencer remains uncertain. Since its launch in May 2021, the sequencer has only been manually refuelled with Ether on four occasions.<\/p>\n\n\n\n
The recent event highlights the reliance of Arbitrum on a centralized control point. Offchain Labs, the company behind Arbitrum, has expressed its plans to decentralize the network's sequencer. <\/p>\n","post_title":"Arbitrum Faces Temporary Shutdown Due To Gas Shortage","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"arbitrum-faces-temporary-shutdown-due-to-gas-shortage","to_ping":"","pinged":"","post_modified":"2023-06-08 22:45:55","post_modified_gmt":"2023-06-08 12:45:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11929","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11770,"post_author":"13","post_date":"2023-05-18 00:31:26","post_date_gmt":"2023-05-17 14:31:26","post_content":"\n
\n
Judge Analisa Torres has declined a motion by the commission to seal essential documents in the legal tussle.  <\/li>\n\n\n\n
The price of the native XRP token has surged following the ruling.<\/li>\n<\/ul>\n\n\n\n
A US judge presiding over the case between Ripple and the Securities and Exchange Commission (SEC) has rejected a motion filed by the regulator to seal some of the essential documents.<\/p>\n\n\n\n
Judge Analisa Torres of the US District Court has disagreed<\/a> with SEC\u2019s move to seal Hinman\u2019s Speech documents, comprising emails, text messages, and expert reports, saying they were \u2018judicial documents\u2019 subject to a strong presumption of public access.<\/p>\n\n\n\n
As a recap, the SEC is suing<\/a> Ripple for selling unregistered securities. At the centre of the legal matter is a controversial speech by the former finance division director at the commission, William Hinman, who stated that Ether, the native cryptocurrency to the Ethereum blockchain, was not a security. The statement is believed to influence the much-awaited summary judgment considerably.<\/p>\n\n\n\n
The SEC\u2019s Position On The Matter<\/h2>\n\n\n\n
On December 22, the SEC filed a motion before Judge Torres to have all the documents containing Hinman\u2019s speech sealed from the public, saying they were irrelevant to the court\u2019s summary judgment. Further, the commission added that having the documents sealed preserved \u2018openness and candour\u2019, which the court has also rejected.<\/p>\n\n\n\n
\u2018\u2018Regardless of whether the court ultimately determines that the Hinman Speech Documents are admissible, or whether the court relies on the documents in ruling on the summary judgment motions, they are judicial documents subject to a strong presumption of public access because they are \u2018relevant to the performance of the judicial function and useful in the judicial process,'\" <\/em>read the ruling.<\/p>\n\n\n\n
XRP has added more than 5% in the past 24 hours following the development and was trading at $0.4487 at the time of writing. <\/p>\n","post_title":"Ripple Scores Major Victory In Case With The SEC As Court Denies Motion Filed By The Regulator","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-scores-major-victory-in-case-with-the-sec-as-court-denies-motion-filed-by-the-regulator","to_ping":"","pinged":"","post_modified":"2023-05-18 00:31:29","post_modified_gmt":"2023-05-17 14:31:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11770","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11728,"post_author":"12","post_date":"2023-05-15 16:06:43","post_date_gmt":"2023-05-15 06:06:43","post_content":"\n
A recent report<\/a> from Financial Times found that Worldcoin, a cryptocurrency project launched by OpenAI CEO Sam Altman, is close to securing $100M in funding. Those already backing the project include; a16z, Digital Currency Group and Coinbase Ventures; the new round of funding includes \u201cexisting and new investors.\u201d<\/em><\/p>\n\n\n\n
The project<\/a> was founded in 2020 by Sam Altman, Alex Blania, and Max Novendstern. With over 1,697,000 sign ups already, Worldcoin aims to build \"the world\u2019s largest identity and financial network as a public utility, giving ownership to everyone, [and] to create universal access to the global economy regardless of country or background, accelerating the transition to an economic future that welcomes and benefits every person on the planet.<\/em><\/p>\n\n\n\n
In March 2022, The Information\u00a0reported<\/a>\u00a0that the firm was looking to raise $100M\u00a0from investors through a private token sale, citing two people familiar with the situation. These sources stated that \u201cit\u2019s a bear market, a crypto winter. It\u2019s remarkable for a project in this space to get this amount of investment.\u201d<\/em><\/p>\n\n\n\n
Worldcoin Verification, Adoption, And Account Abstraction<\/h2>\n\n\n\nWorldcoin launched a gas-free crypto wallet in early May of 2023 called World App. This wallet relies on a system called World ID which uses zero-knowledge proofs to verify that you're a real human with either a phone number or iris scan. The gasless transactions rely upon account abstraction<\/a>, a popular protocol on Ethereum, under ERC-4337<\/a>.<\/p>\n\n\n\n
World App is also integrated with Uniswap, so users can swap currencies in the wallet.<\/p>\n\n\n\n
Worldcoin has been in its beta for some time now; within \"the next six weeks\" the blockchain protocol is expected to launch and with that, transactions will begin being recorded.<\/p>\n","post_title":"OpenAI's Sam Altman To Secure $100M For Worldcoin; Will Start Recording Transactions In 6 Weeks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openais-sam-altman-to-secure-100m-for-worldcoin-will-start-recording-transactions-in-6-weeks","to_ping":"","pinged":"","post_modified":"2023-05-15 16:06:46","post_modified_gmt":"2023-05-15 06:06:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11728","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11677,"post_author":"15","post_date":"2023-05-13 00:36:12","post_date_gmt":"2023-05-12 14:36:12","post_content":"\n
In the last 24 hours, $46.37 million worth of $PEPE has been deposited into exchanges. The meme coin has net deposits from 1,176 addresses amounting to $22.94 million. $PEPE has seen a significant drop of 31% in value, shrinking its market value to around $500 million, as reported <\/a>by ScopeProtocol.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/ScopeProtocol\/status\/1656916635134066688?s=20\n<\/div><\/figure>\n\n\n\n
$PEPE is a meme coin that has gained significant popularity in cryptocurrency. It has captured the attention of crypto enthusiasts and investors due to its unique and humorous nature.<\/p>\n\n\n\n
Despite its playful image, $PEPE has also experienced fluctuations in its market price. This volatility is characteristic of many memecoins, as trends, speculation, and the overall sentiment of the market can influence their prices.<\/p>\n\n\n\n
More On Memecoins<\/h2>\n\n\n\n
On May 11, 2023, @lookonchain<\/a>, a prominent cryptocurrency analyst, tweeted<\/a> about $PEPE and $LADYs (another meme coin). In his tweet, he praised how a cryptocurrency trader made huge profits trading meme coins. The trader bought $PEPE on Apr 18 and $LADYS before Elon Musk tweeted. In summary, his investment gained 36x on $PEPE and 35x on $LADYS. <\/p>\n\n\n\n
The meme coin phenomenon has emerged as a culture in the cryptocurrency space. We can notably refer to prominent meme coins like Dogecoin ($DOGE) and Shiba Inu ($SHIB). At the time of writing, these two cryptocurrencies ranked number 8 and number 15, respectively, according to Coinmarketcap. $DOGE and $SHIB have paved the way for other meme coins to gain traction in the crypto market.<\/p>\n","post_title":"Massive $PEPE Deposits Shake Crypto Exchanges; Market Value Plunges","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"massive-pepe-deposits-shake-crypto-exchanges-market-value-plunges","to_ping":"","pinged":"","post_modified":"2023-05-13 00:36:16","post_modified_gmt":"2023-05-12 14:36:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11677","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11401,"post_author":"13","post_date":"2023-05-02 11:29:00","post_date_gmt":"2023-05-02 01:29:00","post_content":"\n
\n
SUI farming will open for two days on BNB and TUSD pools beginning May 1.<\/li>\n\n\n\n
The token is expected to list afterward on Binance against BTC, USDT, TUSD, and BNB.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Binance has unveiled its 33rd project on Binance Luanchpoool, Sui, that allows users to farm SUI tokens using staked BNB and TrueUSD (TUSD).<\/p>\n\n\n\n
According to the announcement<\/a> on April 30, the farming of SUI tokens would run for 2 days beginning May 1. After that, the asset would be listed on Binance under trading pairs SUI\/BTC, SUI\/USDT, SUITUSD, and SUI\/BNB, subject to the relevant liquidity requirements.<\/p>\n\n\n\n
40 million SUI tokens are set for launchpool token rewards, 0.4% of the total token supply of 10 billion. So far, more than 9 million BNB tokens have been staked on the BNB pool, while the TUSD pool has more than 450 million staked TUSD.<\/p>\n\n\n\n
DPoS Layer-1 Blockchain<\/h2>\n\n\n\n
Sui<\/a> operates as a delegated proof of stake (DPoS) layer-1 blockchain<\/a> written on the Move programming language. The project has since raised $300 million in a series B funding round backed by Binance Labs and Coinbase - bringing its valuation to $2 billion.<\/p>\n\n\n\n
The project, hyped by its community of supporters as the \u2018Ethereum Killer\u2019<\/em>, uses a unique technology involving a parallel data model and execution engine to enhance transaction scaling. Besides, the blockchain employs an object-centric model for processing parallel transactions.<\/p>\n\n\n\n
The unveiling has pumped the price of Binance\u2019s native BNB token upwards despite a bearish market momentum. At press time, the token was changing hands for $333, representing a jump of 3% in the past day.<\/p>\n","post_title":"Binance Launches SUI Farming With Staked BNB And TrueUSD","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-launches-sui-farming-with-staked-bnb-and-trueusd","to_ping":"","pinged":"","post_modified":"2023-05-04 13:03:20","post_modified_gmt":"2023-05-04 03:03:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
Worldcoin has been the centre of attention due to its promise of a biometric proof of identity. Sam Altman, CEO of OpenAI<\/a>, the firm behind ChatGPT, created the crypto project. Altman says World IDs are needed in this era of generative chatbots like ChatGPT.<\/p>\n\n\n\n
Worldcoin uses a device called \"The Orb\" to scan people's irises, generating a personally identifiable Worldcoin ID. The functionality has, however, been criticized for potential security and privacy violations. <\/p>\n\n\n\n
Altman believes Worldcoin would offer a reliable way to distinguish humans from bots while protecting privacy. It will also reduce fraud since only real people can own World IDs.<\/p>\n\n\n\n
Meanwhile, Altman is eyeing a global expansion, with the OpenAI CEO targeting up to 2 billion users. The project has already earned over 2 million users from the beta sign-up period.  <\/p>\n","post_title":"Binance Lists OpenAI-Affiliated Worldcoin Amid High Market Speculation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-lists-openai-affiliated-worldcoin-amid-high-market-speculation","to_ping":"","pinged":"","post_modified":"2023-07-25 23:29:00","post_modified_gmt":"2023-07-25 13:29:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12708","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":12524,"post_author":"1","post_date":"2023-07-15 23:36:16","post_date_gmt":"2023-07-15 13:36:16","post_content":"\n
\n
Ripple scored a landmark victory over the regulator on Thursday.<\/li>\n\n\n\n
The prolonged legal battle is expected to shape the regulations for digital assets.<\/li>\n<\/ul>\n\n\n\n
JP Morgan viewed the court ruling for Ripple as a significant victory. However, according to the investment banking giant, the regulations by enforcement are far from over. <\/p>\n\n\n\n
On Thursday, the US Southern District Court ruled partially in favor of Ripple, the FinTech company that issues XRP. The SEC and Ripple's 2-year legal battle concluded with the ruling that cryptocurrency issuance on exchanges is not an investment contract.<\/p>\n\n\n\n
\"This ruling is undoubtedly a milestone win for the industry. It provides legal clarity and defense around what does and does not constitute a security, and that overall outcome is in favor of what many in the industry had been arguing,\"<\/em> JP Morgan wrote<\/a> in the note seen by Coindesk.<\/p>\n\n\n\n
Following the landmark ruling, the price of cryptocurrencies soared as sentiment changed in the digital asset space. The cost of XRP rose by about 70%, while Bitcoin reached its highest level in more than a year.<\/p>\n\n\n\n
SEC's Next Step<\/h2>\n\n\n\n
However, according to JPMorgan, the ruling may not be the end of what has come to be termed as regulations by enforcement by the SEC, as the regulator could appeal the case or bring similar charges against other cryptocurrency companies.<\/p>\n\n\n\n
In June, Binance, the leading crypto exchange, faced 13 charges from the SEC, one being the sale of unauthorized securities. The regulator sued Coinbase, the largest US cryptocurrency exchange, for security law violations. <\/p>\n\n\n\n
At the start of the year, the SEC brought charges<\/a> against Gemini and Genesis for allegedly violating the securities regulations related to crypto lending. In February, it\u00a0 fined crypto exchange Kraken<\/a>\u00a0$30 million and ordered the platform to cease offering staking services to US users.<\/p>\n","post_title":"Ripple-SEC Ruling \u2018A Win\u2019 For Crypto Industry But Regulatory War Not Over, JP Morgan Says","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-sec-ruling-a-win-for-crypto-industry-but-regulatory-war-not-over-jp-morgan-says","to_ping":"","pinged":"","post_modified":"2023-07-15 23:36:25","post_modified_gmt":"2023-07-15 13:36:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11929,"post_author":"15","post_date":"2023-06-08 22:45:46","post_date_gmt":"2023-06-08 12:45:46","post_content":"\n
Arbitrum, a layer 2 blockchain, halts the process of transactions due to funding issues. With over $2.24 billion in deposits, the network experiences an hour-long standstill due to gas shortage. <\/p>\n\n\n\n
Developers on the Arbitrum Discord server<\/a> faced connectivity issues with the network's sequencer. The software is responsible for bundling and confirming transactions on the Ethereum network.<\/p>\n\n\n\n
According to on-chain records<\/a>, the sequencer exhausted its supply of Ether, the native cryptocurrency of Ethereum used for transaction fees<\/a>. Without sufficient Ether to cover the fees, the sequencer could not process transactions on Ethereum, resulting in Arbitrum coming to a halt.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
What's Next to Arbitrum?<\/h2>\n\n\n\n
Following an hour-long period of transaction processing failure, Arbitrum has resumed its operations. A wallet that had previously transferred funds to the Arbitrum multi-signature wallet sent 1.4 Ether to the sequence. This replenishment enabled the sequencer to resume sending transactions to Ethereum.<\/p>\n\n\n\n
The cause behind the depletion of gas in Arbitrum's sequencer remains uncertain. Since its launch in May 2021, the sequencer has only been manually refuelled with Ether on four occasions.<\/p>\n\n\n\n
The recent event highlights the reliance of Arbitrum on a centralized control point. Offchain Labs, the company behind Arbitrum, has expressed its plans to decentralize the network's sequencer. <\/p>\n","post_title":"Arbitrum Faces Temporary Shutdown Due To Gas Shortage","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"arbitrum-faces-temporary-shutdown-due-to-gas-shortage","to_ping":"","pinged":"","post_modified":"2023-06-08 22:45:55","post_modified_gmt":"2023-06-08 12:45:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11929","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11770,"post_author":"13","post_date":"2023-05-18 00:31:26","post_date_gmt":"2023-05-17 14:31:26","post_content":"\n
\n
Judge Analisa Torres has declined a motion by the commission to seal essential documents in the legal tussle.  <\/li>\n\n\n\n
The price of the native XRP token has surged following the ruling.<\/li>\n<\/ul>\n\n\n\n
A US judge presiding over the case between Ripple and the Securities and Exchange Commission (SEC) has rejected a motion filed by the regulator to seal some of the essential documents.<\/p>\n\n\n\n
Judge Analisa Torres of the US District Court has disagreed<\/a> with SEC\u2019s move to seal Hinman\u2019s Speech documents, comprising emails, text messages, and expert reports, saying they were \u2018judicial documents\u2019 subject to a strong presumption of public access.<\/p>\n\n\n\n
As a recap, the SEC is suing<\/a> Ripple for selling unregistered securities. At the centre of the legal matter is a controversial speech by the former finance division director at the commission, William Hinman, who stated that Ether, the native cryptocurrency to the Ethereum blockchain, was not a security. The statement is believed to influence the much-awaited summary judgment considerably.<\/p>\n\n\n\n
The SEC\u2019s Position On The Matter<\/h2>\n\n\n\n
On December 22, the SEC filed a motion before Judge Torres to have all the documents containing Hinman\u2019s speech sealed from the public, saying they were irrelevant to the court\u2019s summary judgment. Further, the commission added that having the documents sealed preserved \u2018openness and candour\u2019, which the court has also rejected.<\/p>\n\n\n\n
\u2018\u2018Regardless of whether the court ultimately determines that the Hinman Speech Documents are admissible, or whether the court relies on the documents in ruling on the summary judgment motions, they are judicial documents subject to a strong presumption of public access because they are \u2018relevant to the performance of the judicial function and useful in the judicial process,'\" <\/em>read the ruling.<\/p>\n\n\n\n
XRP has added more than 5% in the past 24 hours following the development and was trading at $0.4487 at the time of writing. <\/p>\n","post_title":"Ripple Scores Major Victory In Case With The SEC As Court Denies Motion Filed By The Regulator","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-scores-major-victory-in-case-with-the-sec-as-court-denies-motion-filed-by-the-regulator","to_ping":"","pinged":"","post_modified":"2023-05-18 00:31:29","post_modified_gmt":"2023-05-17 14:31:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11770","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11728,"post_author":"12","post_date":"2023-05-15 16:06:43","post_date_gmt":"2023-05-15 06:06:43","post_content":"\n
A recent report<\/a> from Financial Times found that Worldcoin, a cryptocurrency project launched by OpenAI CEO Sam Altman, is close to securing $100M in funding. Those already backing the project include; a16z, Digital Currency Group and Coinbase Ventures; the new round of funding includes \u201cexisting and new investors.\u201d<\/em><\/p>\n\n\n\n
The project<\/a> was founded in 2020 by Sam Altman, Alex Blania, and Max Novendstern. With over 1,697,000 sign ups already, Worldcoin aims to build \"the world\u2019s largest identity and financial network as a public utility, giving ownership to everyone, [and] to create universal access to the global economy regardless of country or background, accelerating the transition to an economic future that welcomes and benefits every person on the planet.<\/em><\/p>\n\n\n\n
In March 2022, The Information\u00a0reported<\/a>\u00a0that the firm was looking to raise $100M\u00a0from investors through a private token sale, citing two people familiar with the situation. These sources stated that \u201cit\u2019s a bear market, a crypto winter. It\u2019s remarkable for a project in this space to get this amount of investment.\u201d<\/em><\/p>\n\n\n\n
Worldcoin Verification, Adoption, And Account Abstraction<\/h2>\n\n\n\nWorldcoin launched a gas-free crypto wallet in early May of 2023 called World App. This wallet relies on a system called World ID which uses zero-knowledge proofs to verify that you're a real human with either a phone number or iris scan. The gasless transactions rely upon account abstraction<\/a>, a popular protocol on Ethereum, under ERC-4337<\/a>.<\/p>\n\n\n\n
World App is also integrated with Uniswap, so users can swap currencies in the wallet.<\/p>\n\n\n\n
Worldcoin has been in its beta for some time now; within \"the next six weeks\" the blockchain protocol is expected to launch and with that, transactions will begin being recorded.<\/p>\n","post_title":"OpenAI's Sam Altman To Secure $100M For Worldcoin; Will Start Recording Transactions In 6 Weeks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openais-sam-altman-to-secure-100m-for-worldcoin-will-start-recording-transactions-in-6-weeks","to_ping":"","pinged":"","post_modified":"2023-05-15 16:06:46","post_modified_gmt":"2023-05-15 06:06:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11728","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11677,"post_author":"15","post_date":"2023-05-13 00:36:12","post_date_gmt":"2023-05-12 14:36:12","post_content":"\n
In the last 24 hours, $46.37 million worth of $PEPE has been deposited into exchanges. The meme coin has net deposits from 1,176 addresses amounting to $22.94 million. $PEPE has seen a significant drop of 31% in value, shrinking its market value to around $500 million, as reported <\/a>by ScopeProtocol.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/ScopeProtocol\/status\/1656916635134066688?s=20\n<\/div><\/figure>\n\n\n\n
$PEPE is a meme coin that has gained significant popularity in cryptocurrency. It has captured the attention of crypto enthusiasts and investors due to its unique and humorous nature.<\/p>\n\n\n\n
Despite its playful image, $PEPE has also experienced fluctuations in its market price. This volatility is characteristic of many memecoins, as trends, speculation, and the overall sentiment of the market can influence their prices.<\/p>\n\n\n\n
More On Memecoins<\/h2>\n\n\n\n
On May 11, 2023, @lookonchain<\/a>, a prominent cryptocurrency analyst, tweeted<\/a> about $PEPE and $LADYs (another meme coin). In his tweet, he praised how a cryptocurrency trader made huge profits trading meme coins. The trader bought $PEPE on Apr 18 and $LADYS before Elon Musk tweeted. In summary, his investment gained 36x on $PEPE and 35x on $LADYS. <\/p>\n\n\n\n
The meme coin phenomenon has emerged as a culture in the cryptocurrency space. We can notably refer to prominent meme coins like Dogecoin ($DOGE) and Shiba Inu ($SHIB). At the time of writing, these two cryptocurrencies ranked number 8 and number 15, respectively, according to Coinmarketcap. $DOGE and $SHIB have paved the way for other meme coins to gain traction in the crypto market.<\/p>\n","post_title":"Massive $PEPE Deposits Shake Crypto Exchanges; Market Value Plunges","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"massive-pepe-deposits-shake-crypto-exchanges-market-value-plunges","to_ping":"","pinged":"","post_modified":"2023-05-13 00:36:16","post_modified_gmt":"2023-05-12 14:36:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11677","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11401,"post_author":"13","post_date":"2023-05-02 11:29:00","post_date_gmt":"2023-05-02 01:29:00","post_content":"\n
\n
SUI farming will open for two days on BNB and TUSD pools beginning May 1.<\/li>\n\n\n\n
The token is expected to list afterward on Binance against BTC, USDT, TUSD, and BNB.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Binance has unveiled its 33rd project on Binance Luanchpoool, Sui, that allows users to farm SUI tokens using staked BNB and TrueUSD (TUSD).<\/p>\n\n\n\n
According to the announcement<\/a> on April 30, the farming of SUI tokens would run for 2 days beginning May 1. After that, the asset would be listed on Binance under trading pairs SUI\/BTC, SUI\/USDT, SUITUSD, and SUI\/BNB, subject to the relevant liquidity requirements.<\/p>\n\n\n\n
40 million SUI tokens are set for launchpool token rewards, 0.4% of the total token supply of 10 billion. So far, more than 9 million BNB tokens have been staked on the BNB pool, while the TUSD pool has more than 450 million staked TUSD.<\/p>\n\n\n\n
DPoS Layer-1 Blockchain<\/h2>\n\n\n\n
Sui<\/a> operates as a delegated proof of stake (DPoS) layer-1 blockchain<\/a> written on the Move programming language. The project has since raised $300 million in a series B funding round backed by Binance Labs and Coinbase - bringing its valuation to $2 billion.<\/p>\n\n\n\n
The project, hyped by its community of supporters as the \u2018Ethereum Killer\u2019<\/em>, uses a unique technology involving a parallel data model and execution engine to enhance transaction scaling. Besides, the blockchain employs an object-centric model for processing parallel transactions.<\/p>\n\n\n\n
The unveiling has pumped the price of Binance\u2019s native BNB token upwards despite a bearish market momentum. At press time, the token was changing hands for $333, representing a jump of 3% in the past day.<\/p>\n","post_title":"Binance Launches SUI Farming With Staked BNB And TrueUSD","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-launches-sui-farming-with-staked-bnb-and-trueusd","to_ping":"","pinged":"","post_modified":"2023-05-04 13:03:20","post_modified_gmt":"2023-05-04 03:03:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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Altcoins

Ripple Challenges SEC’s Bid For Appeal In Legal Battle

September 3, 2023

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

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December 19, 2024

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Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

August 15, 2024

Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

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\n
Worldcoin to provide digital proof of identity<\/h2>\n\n\n\n
Worldcoin has been the centre of attention due to its promise of a biometric proof of identity. Sam Altman, CEO of OpenAI<\/a>, the firm behind ChatGPT, created the crypto project. Altman says World IDs are needed in this era of generative chatbots like ChatGPT.<\/p>\n\n\n\n
Worldcoin uses a device called \"The Orb\" to scan people's irises, generating a personally identifiable Worldcoin ID. The functionality has, however, been criticized for potential security and privacy violations. <\/p>\n\n\n\n
Altman believes Worldcoin would offer a reliable way to distinguish humans from bots while protecting privacy. It will also reduce fraud since only real people can own World IDs.<\/p>\n\n\n\n
Meanwhile, Altman is eyeing a global expansion, with the OpenAI CEO targeting up to 2 billion users. The project has already earned over 2 million users from the beta sign-up period.  <\/p>\n","post_title":"Binance Lists OpenAI-Affiliated Worldcoin Amid High Market Speculation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-lists-openai-affiliated-worldcoin-amid-high-market-speculation","to_ping":"","pinged":"","post_modified":"2023-07-25 23:29:00","post_modified_gmt":"2023-07-25 13:29:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12708","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":12524,"post_author":"1","post_date":"2023-07-15 23:36:16","post_date_gmt":"2023-07-15 13:36:16","post_content":"\n
\n
Ripple scored a landmark victory over the regulator on Thursday.<\/li>\n\n\n\n
The prolonged legal battle is expected to shape the regulations for digital assets.<\/li>\n<\/ul>\n\n\n\n
JP Morgan viewed the court ruling for Ripple as a significant victory. However, according to the investment banking giant, the regulations by enforcement are far from over. <\/p>\n\n\n\n
On Thursday, the US Southern District Court ruled partially in favor of Ripple, the FinTech company that issues XRP. The SEC and Ripple's 2-year legal battle concluded with the ruling that cryptocurrency issuance on exchanges is not an investment contract.<\/p>\n\n\n\n
\"This ruling is undoubtedly a milestone win for the industry. It provides legal clarity and defense around what does and does not constitute a security, and that overall outcome is in favor of what many in the industry had been arguing,\"<\/em> JP Morgan wrote<\/a> in the note seen by Coindesk.<\/p>\n\n\n\n
Following the landmark ruling, the price of cryptocurrencies soared as sentiment changed in the digital asset space. The cost of XRP rose by about 70%, while Bitcoin reached its highest level in more than a year.<\/p>\n\n\n\n
SEC's Next Step<\/h2>\n\n\n\n
However, according to JPMorgan, the ruling may not be the end of what has come to be termed as regulations by enforcement by the SEC, as the regulator could appeal the case or bring similar charges against other cryptocurrency companies.<\/p>\n\n\n\n
In June, Binance, the leading crypto exchange, faced 13 charges from the SEC, one being the sale of unauthorized securities. The regulator sued Coinbase, the largest US cryptocurrency exchange, for security law violations. <\/p>\n\n\n\n
At the start of the year, the SEC brought charges<\/a> against Gemini and Genesis for allegedly violating the securities regulations related to crypto lending. In February, it\u00a0 fined crypto exchange Kraken<\/a>\u00a0$30 million and ordered the platform to cease offering staking services to US users.<\/p>\n","post_title":"Ripple-SEC Ruling \u2018A Win\u2019 For Crypto Industry But Regulatory War Not Over, JP Morgan Says","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-sec-ruling-a-win-for-crypto-industry-but-regulatory-war-not-over-jp-morgan-says","to_ping":"","pinged":"","post_modified":"2023-07-15 23:36:25","post_modified_gmt":"2023-07-15 13:36:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11929,"post_author":"15","post_date":"2023-06-08 22:45:46","post_date_gmt":"2023-06-08 12:45:46","post_content":"\n
Arbitrum, a layer 2 blockchain, halts the process of transactions due to funding issues. With over $2.24 billion in deposits, the network experiences an hour-long standstill due to gas shortage. <\/p>\n\n\n\n
Developers on the Arbitrum Discord server<\/a> faced connectivity issues with the network's sequencer. The software is responsible for bundling and confirming transactions on the Ethereum network.<\/p>\n\n\n\n
According to on-chain records<\/a>, the sequencer exhausted its supply of Ether, the native cryptocurrency of Ethereum used for transaction fees<\/a>. Without sufficient Ether to cover the fees, the sequencer could not process transactions on Ethereum, resulting in Arbitrum coming to a halt.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
What's Next to Arbitrum?<\/h2>\n\n\n\n
Following an hour-long period of transaction processing failure, Arbitrum has resumed its operations. A wallet that had previously transferred funds to the Arbitrum multi-signature wallet sent 1.4 Ether to the sequence. This replenishment enabled the sequencer to resume sending transactions to Ethereum.<\/p>\n\n\n\n
The cause behind the depletion of gas in Arbitrum's sequencer remains uncertain. Since its launch in May 2021, the sequencer has only been manually refuelled with Ether on four occasions.<\/p>\n\n\n\n
The recent event highlights the reliance of Arbitrum on a centralized control point. Offchain Labs, the company behind Arbitrum, has expressed its plans to decentralize the network's sequencer. <\/p>\n","post_title":"Arbitrum Faces Temporary Shutdown Due To Gas Shortage","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"arbitrum-faces-temporary-shutdown-due-to-gas-shortage","to_ping":"","pinged":"","post_modified":"2023-06-08 22:45:55","post_modified_gmt":"2023-06-08 12:45:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11929","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11770,"post_author":"13","post_date":"2023-05-18 00:31:26","post_date_gmt":"2023-05-17 14:31:26","post_content":"\n
\n
Judge Analisa Torres has declined a motion by the commission to seal essential documents in the legal tussle.  <\/li>\n\n\n\n
The price of the native XRP token has surged following the ruling.<\/li>\n<\/ul>\n\n\n\n
A US judge presiding over the case between Ripple and the Securities and Exchange Commission (SEC) has rejected a motion filed by the regulator to seal some of the essential documents.<\/p>\n\n\n\n
Judge Analisa Torres of the US District Court has disagreed<\/a> with SEC\u2019s move to seal Hinman\u2019s Speech documents, comprising emails, text messages, and expert reports, saying they were \u2018judicial documents\u2019 subject to a strong presumption of public access.<\/p>\n\n\n\n
As a recap, the SEC is suing<\/a> Ripple for selling unregistered securities. At the centre of the legal matter is a controversial speech by the former finance division director at the commission, William Hinman, who stated that Ether, the native cryptocurrency to the Ethereum blockchain, was not a security. The statement is believed to influence the much-awaited summary judgment considerably.<\/p>\n\n\n\n
The SEC\u2019s Position On The Matter<\/h2>\n\n\n\n
On December 22, the SEC filed a motion before Judge Torres to have all the documents containing Hinman\u2019s speech sealed from the public, saying they were irrelevant to the court\u2019s summary judgment. Further, the commission added that having the documents sealed preserved \u2018openness and candour\u2019, which the court has also rejected.<\/p>\n\n\n\n
\u2018\u2018Regardless of whether the court ultimately determines that the Hinman Speech Documents are admissible, or whether the court relies on the documents in ruling on the summary judgment motions, they are judicial documents subject to a strong presumption of public access because they are \u2018relevant to the performance of the judicial function and useful in the judicial process,'\" <\/em>read the ruling.<\/p>\n\n\n\n
XRP has added more than 5% in the past 24 hours following the development and was trading at $0.4487 at the time of writing. <\/p>\n","post_title":"Ripple Scores Major Victory In Case With The SEC As Court Denies Motion Filed By The Regulator","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-scores-major-victory-in-case-with-the-sec-as-court-denies-motion-filed-by-the-regulator","to_ping":"","pinged":"","post_modified":"2023-05-18 00:31:29","post_modified_gmt":"2023-05-17 14:31:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11770","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11728,"post_author":"12","post_date":"2023-05-15 16:06:43","post_date_gmt":"2023-05-15 06:06:43","post_content":"\n
A recent report<\/a> from Financial Times found that Worldcoin, a cryptocurrency project launched by OpenAI CEO Sam Altman, is close to securing $100M in funding. Those already backing the project include; a16z, Digital Currency Group and Coinbase Ventures; the new round of funding includes \u201cexisting and new investors.\u201d<\/em><\/p>\n\n\n\n
The project<\/a> was founded in 2020 by Sam Altman, Alex Blania, and Max Novendstern. With over 1,697,000 sign ups already, Worldcoin aims to build \"the world\u2019s largest identity and financial network as a public utility, giving ownership to everyone, [and] to create universal access to the global economy regardless of country or background, accelerating the transition to an economic future that welcomes and benefits every person on the planet.<\/em><\/p>\n\n\n\n
In March 2022, The Information\u00a0reported<\/a>\u00a0that the firm was looking to raise $100M\u00a0from investors through a private token sale, citing two people familiar with the situation. These sources stated that \u201cit\u2019s a bear market, a crypto winter. It\u2019s remarkable for a project in this space to get this amount of investment.\u201d<\/em><\/p>\n\n\n\n
Worldcoin Verification, Adoption, And Account Abstraction<\/h2>\n\n\n\nWorldcoin launched a gas-free crypto wallet in early May of 2023 called World App. This wallet relies on a system called World ID which uses zero-knowledge proofs to verify that you're a real human with either a phone number or iris scan. The gasless transactions rely upon account abstraction<\/a>, a popular protocol on Ethereum, under ERC-4337<\/a>.<\/p>\n\n\n\n
World App is also integrated with Uniswap, so users can swap currencies in the wallet.<\/p>\n\n\n\n
Worldcoin has been in its beta for some time now; within \"the next six weeks\" the blockchain protocol is expected to launch and with that, transactions will begin being recorded.<\/p>\n","post_title":"OpenAI's Sam Altman To Secure $100M For Worldcoin; Will Start Recording Transactions In 6 Weeks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openais-sam-altman-to-secure-100m-for-worldcoin-will-start-recording-transactions-in-6-weeks","to_ping":"","pinged":"","post_modified":"2023-05-15 16:06:46","post_modified_gmt":"2023-05-15 06:06:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11728","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11677,"post_author":"15","post_date":"2023-05-13 00:36:12","post_date_gmt":"2023-05-12 14:36:12","post_content":"\n
In the last 24 hours, $46.37 million worth of $PEPE has been deposited into exchanges. The meme coin has net deposits from 1,176 addresses amounting to $22.94 million. $PEPE has seen a significant drop of 31% in value, shrinking its market value to around $500 million, as reported <\/a>by ScopeProtocol.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/ScopeProtocol\/status\/1656916635134066688?s=20\n<\/div><\/figure>\n\n\n\n
$PEPE is a meme coin that has gained significant popularity in cryptocurrency. It has captured the attention of crypto enthusiasts and investors due to its unique and humorous nature.<\/p>\n\n\n\n
Despite its playful image, $PEPE has also experienced fluctuations in its market price. This volatility is characteristic of many memecoins, as trends, speculation, and the overall sentiment of the market can influence their prices.<\/p>\n\n\n\n
More On Memecoins<\/h2>\n\n\n\n
On May 11, 2023, @lookonchain<\/a>, a prominent cryptocurrency analyst, tweeted<\/a> about $PEPE and $LADYs (another meme coin). In his tweet, he praised how a cryptocurrency trader made huge profits trading meme coins. The trader bought $PEPE on Apr 18 and $LADYS before Elon Musk tweeted. In summary, his investment gained 36x on $PEPE and 35x on $LADYS. <\/p>\n\n\n\n
The meme coin phenomenon has emerged as a culture in the cryptocurrency space. We can notably refer to prominent meme coins like Dogecoin ($DOGE) and Shiba Inu ($SHIB). At the time of writing, these two cryptocurrencies ranked number 8 and number 15, respectively, according to Coinmarketcap. $DOGE and $SHIB have paved the way for other meme coins to gain traction in the crypto market.<\/p>\n","post_title":"Massive $PEPE Deposits Shake Crypto Exchanges; Market Value Plunges","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"massive-pepe-deposits-shake-crypto-exchanges-market-value-plunges","to_ping":"","pinged":"","post_modified":"2023-05-13 00:36:16","post_modified_gmt":"2023-05-12 14:36:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11677","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11401,"post_author":"13","post_date":"2023-05-02 11:29:00","post_date_gmt":"2023-05-02 01:29:00","post_content":"\n
\n
SUI farming will open for two days on BNB and TUSD pools beginning May 1.<\/li>\n\n\n\n
The token is expected to list afterward on Binance against BTC, USDT, TUSD, and BNB.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Binance has unveiled its 33rd project on Binance Luanchpoool, Sui, that allows users to farm SUI tokens using staked BNB and TrueUSD (TUSD).<\/p>\n\n\n\n
According to the announcement<\/a> on April 30, the farming of SUI tokens would run for 2 days beginning May 1. After that, the asset would be listed on Binance under trading pairs SUI\/BTC, SUI\/USDT, SUITUSD, and SUI\/BNB, subject to the relevant liquidity requirements.<\/p>\n\n\n\n
40 million SUI tokens are set for launchpool token rewards, 0.4% of the total token supply of 10 billion. So far, more than 9 million BNB tokens have been staked on the BNB pool, while the TUSD pool has more than 450 million staked TUSD.<\/p>\n\n\n\n
DPoS Layer-1 Blockchain<\/h2>\n\n\n\n
Sui<\/a> operates as a delegated proof of stake (DPoS) layer-1 blockchain<\/a> written on the Move programming language. The project has since raised $300 million in a series B funding round backed by Binance Labs and Coinbase - bringing its valuation to $2 billion.<\/p>\n\n\n\n
The project, hyped by its community of supporters as the \u2018Ethereum Killer\u2019<\/em>, uses a unique technology involving a parallel data model and execution engine to enhance transaction scaling. Besides, the blockchain employs an object-centric model for processing parallel transactions.<\/p>\n\n\n\n
The unveiling has pumped the price of Binance\u2019s native BNB token upwards despite a bearish market momentum. At press time, the token was changing hands for $333, representing a jump of 3% in the past day.<\/p>\n","post_title":"Binance Launches SUI Farming With Staked BNB And TrueUSD","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-launches-sui-farming-with-staked-bnb-and-trueusd","to_ping":"","pinged":"","post_modified":"2023-05-04 13:03:20","post_modified_gmt":"2023-05-04 03:03:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 … 10 Next

Most Read

Altcoins

Ripple Challenges SEC’s Bid For Appeal In Legal Battle

September 3, 2023

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Artificial Intelligence

Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

August 15, 2024

Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

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Follow The Distributed

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\n
Worldcoin<\/a> plans to control almost 20% of tokens. The team will use the money for orb production, maintenance, and ecosystem development.<\/p>\n\n\n\n
Worldcoin to provide digital proof of identity<\/h2>\n\n\n\n
Worldcoin has been the centre of attention due to its promise of a biometric proof of identity. Sam Altman, CEO of OpenAI<\/a>, the firm behind ChatGPT, created the crypto project. Altman says World IDs are needed in this era of generative chatbots like ChatGPT.<\/p>\n\n\n\n
Worldcoin uses a device called \"The Orb\" to scan people's irises, generating a personally identifiable Worldcoin ID. The functionality has, however, been criticized for potential security and privacy violations. <\/p>\n\n\n\n
Altman believes Worldcoin would offer a reliable way to distinguish humans from bots while protecting privacy. It will also reduce fraud since only real people can own World IDs.<\/p>\n\n\n\n
Meanwhile, Altman is eyeing a global expansion, with the OpenAI CEO targeting up to 2 billion users. The project has already earned over 2 million users from the beta sign-up period.  <\/p>\n","post_title":"Binance Lists OpenAI-Affiliated Worldcoin Amid High Market Speculation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-lists-openai-affiliated-worldcoin-amid-high-market-speculation","to_ping":"","pinged":"","post_modified":"2023-07-25 23:29:00","post_modified_gmt":"2023-07-25 13:29:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12708","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":12524,"post_author":"1","post_date":"2023-07-15 23:36:16","post_date_gmt":"2023-07-15 13:36:16","post_content":"\n
\n
Ripple scored a landmark victory over the regulator on Thursday.<\/li>\n\n\n\n
The prolonged legal battle is expected to shape the regulations for digital assets.<\/li>\n<\/ul>\n\n\n\n
JP Morgan viewed the court ruling for Ripple as a significant victory. However, according to the investment banking giant, the regulations by enforcement are far from over. <\/p>\n\n\n\n
On Thursday, the US Southern District Court ruled partially in favor of Ripple, the FinTech company that issues XRP. The SEC and Ripple's 2-year legal battle concluded with the ruling that cryptocurrency issuance on exchanges is not an investment contract.<\/p>\n\n\n\n
\"This ruling is undoubtedly a milestone win for the industry. It provides legal clarity and defense around what does and does not constitute a security, and that overall outcome is in favor of what many in the industry had been arguing,\"<\/em> JP Morgan wrote<\/a> in the note seen by Coindesk.<\/p>\n\n\n\n
Following the landmark ruling, the price of cryptocurrencies soared as sentiment changed in the digital asset space. The cost of XRP rose by about 70%, while Bitcoin reached its highest level in more than a year.<\/p>\n\n\n\n
SEC's Next Step<\/h2>\n\n\n\n
However, according to JPMorgan, the ruling may not be the end of what has come to be termed as regulations by enforcement by the SEC, as the regulator could appeal the case or bring similar charges against other cryptocurrency companies.<\/p>\n\n\n\n
In June, Binance, the leading crypto exchange, faced 13 charges from the SEC, one being the sale of unauthorized securities. The regulator sued Coinbase, the largest US cryptocurrency exchange, for security law violations. <\/p>\n\n\n\n
At the start of the year, the SEC brought charges<\/a> against Gemini and Genesis for allegedly violating the securities regulations related to crypto lending. In February, it\u00a0 fined crypto exchange Kraken<\/a>\u00a0$30 million and ordered the platform to cease offering staking services to US users.<\/p>\n","post_title":"Ripple-SEC Ruling \u2018A Win\u2019 For Crypto Industry But Regulatory War Not Over, JP Morgan Says","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-sec-ruling-a-win-for-crypto-industry-but-regulatory-war-not-over-jp-morgan-says","to_ping":"","pinged":"","post_modified":"2023-07-15 23:36:25","post_modified_gmt":"2023-07-15 13:36:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11929,"post_author":"15","post_date":"2023-06-08 22:45:46","post_date_gmt":"2023-06-08 12:45:46","post_content":"\n
Arbitrum, a layer 2 blockchain, halts the process of transactions due to funding issues. With over $2.24 billion in deposits, the network experiences an hour-long standstill due to gas shortage. <\/p>\n\n\n\n
Developers on the Arbitrum Discord server<\/a> faced connectivity issues with the network's sequencer. The software is responsible for bundling and confirming transactions on the Ethereum network.<\/p>\n\n\n\n
According to on-chain records<\/a>, the sequencer exhausted its supply of Ether, the native cryptocurrency of Ethereum used for transaction fees<\/a>. Without sufficient Ether to cover the fees, the sequencer could not process transactions on Ethereum, resulting in Arbitrum coming to a halt.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
What's Next to Arbitrum?<\/h2>\n\n\n\n
Following an hour-long period of transaction processing failure, Arbitrum has resumed its operations. A wallet that had previously transferred funds to the Arbitrum multi-signature wallet sent 1.4 Ether to the sequence. This replenishment enabled the sequencer to resume sending transactions to Ethereum.<\/p>\n\n\n\n
The cause behind the depletion of gas in Arbitrum's sequencer remains uncertain. Since its launch in May 2021, the sequencer has only been manually refuelled with Ether on four occasions.<\/p>\n\n\n\n
The recent event highlights the reliance of Arbitrum on a centralized control point. Offchain Labs, the company behind Arbitrum, has expressed its plans to decentralize the network's sequencer. <\/p>\n","post_title":"Arbitrum Faces Temporary Shutdown Due To Gas Shortage","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"arbitrum-faces-temporary-shutdown-due-to-gas-shortage","to_ping":"","pinged":"","post_modified":"2023-06-08 22:45:55","post_modified_gmt":"2023-06-08 12:45:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11929","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11770,"post_author":"13","post_date":"2023-05-18 00:31:26","post_date_gmt":"2023-05-17 14:31:26","post_content":"\n
\n
Judge Analisa Torres has declined a motion by the commission to seal essential documents in the legal tussle.  <\/li>\n\n\n\n
The price of the native XRP token has surged following the ruling.<\/li>\n<\/ul>\n\n\n\n
A US judge presiding over the case between Ripple and the Securities and Exchange Commission (SEC) has rejected a motion filed by the regulator to seal some of the essential documents.<\/p>\n\n\n\n
Judge Analisa Torres of the US District Court has disagreed<\/a> with SEC\u2019s move to seal Hinman\u2019s Speech documents, comprising emails, text messages, and expert reports, saying they were \u2018judicial documents\u2019 subject to a strong presumption of public access.<\/p>\n\n\n\n
As a recap, the SEC is suing<\/a> Ripple for selling unregistered securities. At the centre of the legal matter is a controversial speech by the former finance division director at the commission, William Hinman, who stated that Ether, the native cryptocurrency to the Ethereum blockchain, was not a security. The statement is believed to influence the much-awaited summary judgment considerably.<\/p>\n\n\n\n
The SEC\u2019s Position On The Matter<\/h2>\n\n\n\n
On December 22, the SEC filed a motion before Judge Torres to have all the documents containing Hinman\u2019s speech sealed from the public, saying they were irrelevant to the court\u2019s summary judgment. Further, the commission added that having the documents sealed preserved \u2018openness and candour\u2019, which the court has also rejected.<\/p>\n\n\n\n
\u2018\u2018Regardless of whether the court ultimately determines that the Hinman Speech Documents are admissible, or whether the court relies on the documents in ruling on the summary judgment motions, they are judicial documents subject to a strong presumption of public access because they are \u2018relevant to the performance of the judicial function and useful in the judicial process,'\" <\/em>read the ruling.<\/p>\n\n\n\n
XRP has added more than 5% in the past 24 hours following the development and was trading at $0.4487 at the time of writing. <\/p>\n","post_title":"Ripple Scores Major Victory In Case With The SEC As Court Denies Motion Filed By The Regulator","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-scores-major-victory-in-case-with-the-sec-as-court-denies-motion-filed-by-the-regulator","to_ping":"","pinged":"","post_modified":"2023-05-18 00:31:29","post_modified_gmt":"2023-05-17 14:31:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11770","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11728,"post_author":"12","post_date":"2023-05-15 16:06:43","post_date_gmt":"2023-05-15 06:06:43","post_content":"\n
A recent report<\/a> from Financial Times found that Worldcoin, a cryptocurrency project launched by OpenAI CEO Sam Altman, is close to securing $100M in funding. Those already backing the project include; a16z, Digital Currency Group and Coinbase Ventures; the new round of funding includes \u201cexisting and new investors.\u201d<\/em><\/p>\n\n\n\n
The project<\/a> was founded in 2020 by Sam Altman, Alex Blania, and Max Novendstern. With over 1,697,000 sign ups already, Worldcoin aims to build \"the world\u2019s largest identity and financial network as a public utility, giving ownership to everyone, [and] to create universal access to the global economy regardless of country or background, accelerating the transition to an economic future that welcomes and benefits every person on the planet.<\/em><\/p>\n\n\n\n
In March 2022, The Information\u00a0reported<\/a>\u00a0that the firm was looking to raise $100M\u00a0from investors through a private token sale, citing two people familiar with the situation. These sources stated that \u201cit\u2019s a bear market, a crypto winter. It\u2019s remarkable for a project in this space to get this amount of investment.\u201d<\/em><\/p>\n\n\n\n
Worldcoin Verification, Adoption, And Account Abstraction<\/h2>\n\n\n\nWorldcoin launched a gas-free crypto wallet in early May of 2023 called World App. This wallet relies on a system called World ID which uses zero-knowledge proofs to verify that you're a real human with either a phone number or iris scan. The gasless transactions rely upon account abstraction<\/a>, a popular protocol on Ethereum, under ERC-4337<\/a>.<\/p>\n\n\n\n
World App is also integrated with Uniswap, so users can swap currencies in the wallet.<\/p>\n\n\n\n
Worldcoin has been in its beta for some time now; within \"the next six weeks\" the blockchain protocol is expected to launch and with that, transactions will begin being recorded.<\/p>\n","post_title":"OpenAI's Sam Altman To Secure $100M For Worldcoin; Will Start Recording Transactions In 6 Weeks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openais-sam-altman-to-secure-100m-for-worldcoin-will-start-recording-transactions-in-6-weeks","to_ping":"","pinged":"","post_modified":"2023-05-15 16:06:46","post_modified_gmt":"2023-05-15 06:06:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11728","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11677,"post_author":"15","post_date":"2023-05-13 00:36:12","post_date_gmt":"2023-05-12 14:36:12","post_content":"\n
In the last 24 hours, $46.37 million worth of $PEPE has been deposited into exchanges. The meme coin has net deposits from 1,176 addresses amounting to $22.94 million. $PEPE has seen a significant drop of 31% in value, shrinking its market value to around $500 million, as reported <\/a>by ScopeProtocol.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/ScopeProtocol\/status\/1656916635134066688?s=20\n<\/div><\/figure>\n\n\n\n
$PEPE is a meme coin that has gained significant popularity in cryptocurrency. It has captured the attention of crypto enthusiasts and investors due to its unique and humorous nature.<\/p>\n\n\n\n
Despite its playful image, $PEPE has also experienced fluctuations in its market price. This volatility is characteristic of many memecoins, as trends, speculation, and the overall sentiment of the market can influence their prices.<\/p>\n\n\n\n
More On Memecoins<\/h2>\n\n\n\n
On May 11, 2023, @lookonchain<\/a>, a prominent cryptocurrency analyst, tweeted<\/a> about $PEPE and $LADYs (another meme coin). In his tweet, he praised how a cryptocurrency trader made huge profits trading meme coins. The trader bought $PEPE on Apr 18 and $LADYS before Elon Musk tweeted. In summary, his investment gained 36x on $PEPE and 35x on $LADYS. <\/p>\n\n\n\n
The meme coin phenomenon has emerged as a culture in the cryptocurrency space. We can notably refer to prominent meme coins like Dogecoin ($DOGE) and Shiba Inu ($SHIB). At the time of writing, these two cryptocurrencies ranked number 8 and number 15, respectively, according to Coinmarketcap. $DOGE and $SHIB have paved the way for other meme coins to gain traction in the crypto market.<\/p>\n","post_title":"Massive $PEPE Deposits Shake Crypto Exchanges; Market Value Plunges","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"massive-pepe-deposits-shake-crypto-exchanges-market-value-plunges","to_ping":"","pinged":"","post_modified":"2023-05-13 00:36:16","post_modified_gmt":"2023-05-12 14:36:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11677","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11401,"post_author":"13","post_date":"2023-05-02 11:29:00","post_date_gmt":"2023-05-02 01:29:00","post_content":"\n
\n
SUI farming will open for two days on BNB and TUSD pools beginning May 1.<\/li>\n\n\n\n
The token is expected to list afterward on Binance against BTC, USDT, TUSD, and BNB.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Binance has unveiled its 33rd project on Binance Luanchpoool, Sui, that allows users to farm SUI tokens using staked BNB and TrueUSD (TUSD).<\/p>\n\n\n\n
According to the announcement<\/a> on April 30, the farming of SUI tokens would run for 2 days beginning May 1. After that, the asset would be listed on Binance under trading pairs SUI\/BTC, SUI\/USDT, SUITUSD, and SUI\/BNB, subject to the relevant liquidity requirements.<\/p>\n\n\n\n
40 million SUI tokens are set for launchpool token rewards, 0.4% of the total token supply of 10 billion. So far, more than 9 million BNB tokens have been staked on the BNB pool, while the TUSD pool has more than 450 million staked TUSD.<\/p>\n\n\n\n
DPoS Layer-1 Blockchain<\/h2>\n\n\n\n
Sui<\/a> operates as a delegated proof of stake (DPoS) layer-1 blockchain<\/a> written on the Move programming language. The project has since raised $300 million in a series B funding round backed by Binance Labs and Coinbase - bringing its valuation to $2 billion.<\/p>\n\n\n\n
The project, hyped by its community of supporters as the \u2018Ethereum Killer\u2019<\/em>, uses a unique technology involving a parallel data model and execution engine to enhance transaction scaling. Besides, the blockchain employs an object-centric model for processing parallel transactions.<\/p>\n\n\n\n
The unveiling has pumped the price of Binance\u2019s native BNB token upwards despite a bearish market momentum. At press time, the token was changing hands for $333, representing a jump of 3% in the past day.<\/p>\n","post_title":"Binance Launches SUI Farming With Staked BNB And TrueUSD","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-launches-sui-farming-with-staked-bnb-and-trueusd","to_ping":"","pinged":"","post_modified":"2023-05-04 13:03:20","post_modified_gmt":"2023-05-04 03:03:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
The listing was a significant milestone for WLD as the token generated a frenzy afterwards, rising by four-digit percentages. Binance said that token withdrawal will begin on July 25, 2023, at 17:00 Eastern Eighth District Time. Other exchanges that listed the token were OKX, Huobi, and Bybit.\u00a0<\/p>\n\n\n\n
Worldcoin<\/a> plans to control almost 20% of tokens. The team will use the money for orb production, maintenance, and ecosystem development.<\/p>\n\n\n\n
Worldcoin to provide digital proof of identity<\/h2>\n\n\n\n
Worldcoin has been the centre of attention due to its promise of a biometric proof of identity. Sam Altman, CEO of OpenAI<\/a>, the firm behind ChatGPT, created the crypto project. Altman says World IDs are needed in this era of generative chatbots like ChatGPT.<\/p>\n\n\n\n
Worldcoin uses a device called \"The Orb\" to scan people's irises, generating a personally identifiable Worldcoin ID. The functionality has, however, been criticized for potential security and privacy violations. <\/p>\n\n\n\n
Altman believes Worldcoin would offer a reliable way to distinguish humans from bots while protecting privacy. It will also reduce fraud since only real people can own World IDs.<\/p>\n\n\n\n
Meanwhile, Altman is eyeing a global expansion, with the OpenAI CEO targeting up to 2 billion users. The project has already earned over 2 million users from the beta sign-up period.  <\/p>\n","post_title":"Binance Lists OpenAI-Affiliated Worldcoin Amid High Market Speculation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-lists-openai-affiliated-worldcoin-amid-high-market-speculation","to_ping":"","pinged":"","post_modified":"2023-07-25 23:29:00","post_modified_gmt":"2023-07-25 13:29:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12708","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":12524,"post_author":"1","post_date":"2023-07-15 23:36:16","post_date_gmt":"2023-07-15 13:36:16","post_content":"\n
\n
Ripple scored a landmark victory over the regulator on Thursday.<\/li>\n\n\n\n
The prolonged legal battle is expected to shape the regulations for digital assets.<\/li>\n<\/ul>\n\n\n\n
JP Morgan viewed the court ruling for Ripple as a significant victory. However, according to the investment banking giant, the regulations by enforcement are far from over. <\/p>\n\n\n\n
On Thursday, the US Southern District Court ruled partially in favor of Ripple, the FinTech company that issues XRP. The SEC and Ripple's 2-year legal battle concluded with the ruling that cryptocurrency issuance on exchanges is not an investment contract.<\/p>\n\n\n\n
\"This ruling is undoubtedly a milestone win for the industry. It provides legal clarity and defense around what does and does not constitute a security, and that overall outcome is in favor of what many in the industry had been arguing,\"<\/em> JP Morgan wrote<\/a> in the note seen by Coindesk.<\/p>\n\n\n\n
Following the landmark ruling, the price of cryptocurrencies soared as sentiment changed in the digital asset space. The cost of XRP rose by about 70%, while Bitcoin reached its highest level in more than a year.<\/p>\n\n\n\n
SEC's Next Step<\/h2>\n\n\n\n
However, according to JPMorgan, the ruling may not be the end of what has come to be termed as regulations by enforcement by the SEC, as the regulator could appeal the case or bring similar charges against other cryptocurrency companies.<\/p>\n\n\n\n
In June, Binance, the leading crypto exchange, faced 13 charges from the SEC, one being the sale of unauthorized securities. The regulator sued Coinbase, the largest US cryptocurrency exchange, for security law violations. <\/p>\n\n\n\n
At the start of the year, the SEC brought charges<\/a> against Gemini and Genesis for allegedly violating the securities regulations related to crypto lending. In February, it\u00a0 fined crypto exchange Kraken<\/a>\u00a0$30 million and ordered the platform to cease offering staking services to US users.<\/p>\n","post_title":"Ripple-SEC Ruling \u2018A Win\u2019 For Crypto Industry But Regulatory War Not Over, JP Morgan Says","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-sec-ruling-a-win-for-crypto-industry-but-regulatory-war-not-over-jp-morgan-says","to_ping":"","pinged":"","post_modified":"2023-07-15 23:36:25","post_modified_gmt":"2023-07-15 13:36:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11929,"post_author":"15","post_date":"2023-06-08 22:45:46","post_date_gmt":"2023-06-08 12:45:46","post_content":"\n
Arbitrum, a layer 2 blockchain, halts the process of transactions due to funding issues. With over $2.24 billion in deposits, the network experiences an hour-long standstill due to gas shortage. <\/p>\n\n\n\n
Developers on the Arbitrum Discord server<\/a> faced connectivity issues with the network's sequencer. The software is responsible for bundling and confirming transactions on the Ethereum network.<\/p>\n\n\n\n
According to on-chain records<\/a>, the sequencer exhausted its supply of Ether, the native cryptocurrency of Ethereum used for transaction fees<\/a>. Without sufficient Ether to cover the fees, the sequencer could not process transactions on Ethereum, resulting in Arbitrum coming to a halt.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
What's Next to Arbitrum?<\/h2>\n\n\n\n
Following an hour-long period of transaction processing failure, Arbitrum has resumed its operations. A wallet that had previously transferred funds to the Arbitrum multi-signature wallet sent 1.4 Ether to the sequence. This replenishment enabled the sequencer to resume sending transactions to Ethereum.<\/p>\n\n\n\n
The cause behind the depletion of gas in Arbitrum's sequencer remains uncertain. Since its launch in May 2021, the sequencer has only been manually refuelled with Ether on four occasions.<\/p>\n\n\n\n
The recent event highlights the reliance of Arbitrum on a centralized control point. Offchain Labs, the company behind Arbitrum, has expressed its plans to decentralize the network's sequencer. <\/p>\n","post_title":"Arbitrum Faces Temporary Shutdown Due To Gas Shortage","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"arbitrum-faces-temporary-shutdown-due-to-gas-shortage","to_ping":"","pinged":"","post_modified":"2023-06-08 22:45:55","post_modified_gmt":"2023-06-08 12:45:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11929","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11770,"post_author":"13","post_date":"2023-05-18 00:31:26","post_date_gmt":"2023-05-17 14:31:26","post_content":"\n
\n
Judge Analisa Torres has declined a motion by the commission to seal essential documents in the legal tussle.  <\/li>\n\n\n\n
The price of the native XRP token has surged following the ruling.<\/li>\n<\/ul>\n\n\n\n
A US judge presiding over the case between Ripple and the Securities and Exchange Commission (SEC) has rejected a motion filed by the regulator to seal some of the essential documents.<\/p>\n\n\n\n
Judge Analisa Torres of the US District Court has disagreed<\/a> with SEC\u2019s move to seal Hinman\u2019s Speech documents, comprising emails, text messages, and expert reports, saying they were \u2018judicial documents\u2019 subject to a strong presumption of public access.<\/p>\n\n\n\n
As a recap, the SEC is suing<\/a> Ripple for selling unregistered securities. At the centre of the legal matter is a controversial speech by the former finance division director at the commission, William Hinman, who stated that Ether, the native cryptocurrency to the Ethereum blockchain, was not a security. The statement is believed to influence the much-awaited summary judgment considerably.<\/p>\n\n\n\n
The SEC\u2019s Position On The Matter<\/h2>\n\n\n\n
On December 22, the SEC filed a motion before Judge Torres to have all the documents containing Hinman\u2019s speech sealed from the public, saying they were irrelevant to the court\u2019s summary judgment. Further, the commission added that having the documents sealed preserved \u2018openness and candour\u2019, which the court has also rejected.<\/p>\n\n\n\n
\u2018\u2018Regardless of whether the court ultimately determines that the Hinman Speech Documents are admissible, or whether the court relies on the documents in ruling on the summary judgment motions, they are judicial documents subject to a strong presumption of public access because they are \u2018relevant to the performance of the judicial function and useful in the judicial process,'\" <\/em>read the ruling.<\/p>\n\n\n\n
XRP has added more than 5% in the past 24 hours following the development and was trading at $0.4487 at the time of writing. <\/p>\n","post_title":"Ripple Scores Major Victory In Case With The SEC As Court Denies Motion Filed By The Regulator","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-scores-major-victory-in-case-with-the-sec-as-court-denies-motion-filed-by-the-regulator","to_ping":"","pinged":"","post_modified":"2023-05-18 00:31:29","post_modified_gmt":"2023-05-17 14:31:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11770","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11728,"post_author":"12","post_date":"2023-05-15 16:06:43","post_date_gmt":"2023-05-15 06:06:43","post_content":"\n
A recent report<\/a> from Financial Times found that Worldcoin, a cryptocurrency project launched by OpenAI CEO Sam Altman, is close to securing $100M in funding. Those already backing the project include; a16z, Digital Currency Group and Coinbase Ventures; the new round of funding includes \u201cexisting and new investors.\u201d<\/em><\/p>\n\n\n\n
The project<\/a> was founded in 2020 by Sam Altman, Alex Blania, and Max Novendstern. With over 1,697,000 sign ups already, Worldcoin aims to build \"the world\u2019s largest identity and financial network as a public utility, giving ownership to everyone, [and] to create universal access to the global economy regardless of country or background, accelerating the transition to an economic future that welcomes and benefits every person on the planet.<\/em><\/p>\n\n\n\n
In March 2022, The Information\u00a0reported<\/a>\u00a0that the firm was looking to raise $100M\u00a0from investors through a private token sale, citing two people familiar with the situation. These sources stated that \u201cit\u2019s a bear market, a crypto winter. It\u2019s remarkable for a project in this space to get this amount of investment.\u201d<\/em><\/p>\n\n\n\n
Worldcoin Verification, Adoption, And Account Abstraction<\/h2>\n\n\n\nWorldcoin launched a gas-free crypto wallet in early May of 2023 called World App. This wallet relies on a system called World ID which uses zero-knowledge proofs to verify that you're a real human with either a phone number or iris scan. The gasless transactions rely upon account abstraction<\/a>, a popular protocol on Ethereum, under ERC-4337<\/a>.<\/p>\n\n\n\n
World App is also integrated with Uniswap, so users can swap currencies in the wallet.<\/p>\n\n\n\n
Worldcoin has been in its beta for some time now; within \"the next six weeks\" the blockchain protocol is expected to launch and with that, transactions will begin being recorded.<\/p>\n","post_title":"OpenAI's Sam Altman To Secure $100M For Worldcoin; Will Start Recording Transactions In 6 Weeks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openais-sam-altman-to-secure-100m-for-worldcoin-will-start-recording-transactions-in-6-weeks","to_ping":"","pinged":"","post_modified":"2023-05-15 16:06:46","post_modified_gmt":"2023-05-15 06:06:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11728","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11677,"post_author":"15","post_date":"2023-05-13 00:36:12","post_date_gmt":"2023-05-12 14:36:12","post_content":"\n
In the last 24 hours, $46.37 million worth of $PEPE has been deposited into exchanges. The meme coin has net deposits from 1,176 addresses amounting to $22.94 million. $PEPE has seen a significant drop of 31% in value, shrinking its market value to around $500 million, as reported <\/a>by ScopeProtocol.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/ScopeProtocol\/status\/1656916635134066688?s=20\n<\/div><\/figure>\n\n\n\n
$PEPE is a meme coin that has gained significant popularity in cryptocurrency. It has captured the attention of crypto enthusiasts and investors due to its unique and humorous nature.<\/p>\n\n\n\n
Despite its playful image, $PEPE has also experienced fluctuations in its market price. This volatility is characteristic of many memecoins, as trends, speculation, and the overall sentiment of the market can influence their prices.<\/p>\n\n\n\n
More On Memecoins<\/h2>\n\n\n\n
On May 11, 2023, @lookonchain<\/a>, a prominent cryptocurrency analyst, tweeted<\/a> about $PEPE and $LADYs (another meme coin). In his tweet, he praised how a cryptocurrency trader made huge profits trading meme coins. The trader bought $PEPE on Apr 18 and $LADYS before Elon Musk tweeted. In summary, his investment gained 36x on $PEPE and 35x on $LADYS. <\/p>\n\n\n\n
The meme coin phenomenon has emerged as a culture in the cryptocurrency space. We can notably refer to prominent meme coins like Dogecoin ($DOGE) and Shiba Inu ($SHIB). At the time of writing, these two cryptocurrencies ranked number 8 and number 15, respectively, according to Coinmarketcap. $DOGE and $SHIB have paved the way for other meme coins to gain traction in the crypto market.<\/p>\n","post_title":"Massive $PEPE Deposits Shake Crypto Exchanges; Market Value Plunges","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"massive-pepe-deposits-shake-crypto-exchanges-market-value-plunges","to_ping":"","pinged":"","post_modified":"2023-05-13 00:36:16","post_modified_gmt":"2023-05-12 14:36:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11677","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11401,"post_author":"13","post_date":"2023-05-02 11:29:00","post_date_gmt":"2023-05-02 01:29:00","post_content":"\n
\n
SUI farming will open for two days on BNB and TUSD pools beginning May 1.<\/li>\n\n\n\n
The token is expected to list afterward on Binance against BTC, USDT, TUSD, and BNB.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Binance has unveiled its 33rd project on Binance Luanchpoool, Sui, that allows users to farm SUI tokens using staked BNB and TrueUSD (TUSD).<\/p>\n\n\n\n
According to the announcement<\/a> on April 30, the farming of SUI tokens would run for 2 days beginning May 1. After that, the asset would be listed on Binance under trading pairs SUI\/BTC, SUI\/USDT, SUITUSD, and SUI\/BNB, subject to the relevant liquidity requirements.<\/p>\n\n\n\n
40 million SUI tokens are set for launchpool token rewards, 0.4% of the total token supply of 10 billion. So far, more than 9 million BNB tokens have been staked on the BNB pool, while the TUSD pool has more than 450 million staked TUSD.<\/p>\n\n\n\n
DPoS Layer-1 Blockchain<\/h2>\n\n\n\n
Sui<\/a> operates as a delegated proof of stake (DPoS) layer-1 blockchain<\/a> written on the Move programming language. The project has since raised $300 million in a series B funding round backed by Binance Labs and Coinbase - bringing its valuation to $2 billion.<\/p>\n\n\n\n
The project, hyped by its community of supporters as the \u2018Ethereum Killer\u2019<\/em>, uses a unique technology involving a parallel data model and execution engine to enhance transaction scaling. Besides, the blockchain employs an object-centric model for processing parallel transactions.<\/p>\n\n\n\n
The unveiling has pumped the price of Binance\u2019s native BNB token upwards despite a bearish market momentum. At press time, the token was changing hands for $333, representing a jump of 3% in the past day.<\/p>\n","post_title":"Binance Launches SUI Farming With Staked BNB And TrueUSD","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-launches-sui-farming-with-staked-bnb-and-trueusd","to_ping":"","pinged":"","post_modified":"2023-05-04 13:03:20","post_modified_gmt":"2023-05-04 03:03:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 … 10 Next

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Altcoins

Ripple Challenges SEC’s Bid For Appeal In Legal Battle

September 3, 2023

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

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November 24, 2024

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\n
WLD, the token of the controversial identity-providing crypto project Worldcoin, launched<\/a> on Monday, July 24. Binance announced<\/a> it had listed the token, welcoming users to participate in new trading pairs WLD\/BTC and WLD\/USDT.<\/p>\n\n\n\n
The listing was a significant milestone for WLD as the token generated a frenzy afterwards, rising by four-digit percentages. Binance said that token withdrawal will begin on July 25, 2023, at 17:00 Eastern Eighth District Time. Other exchanges that listed the token were OKX, Huobi, and Bybit.\u00a0<\/p>\n\n\n\n
Worldcoin<\/a> plans to control almost 20% of tokens. The team will use the money for orb production, maintenance, and ecosystem development.<\/p>\n\n\n\n
Worldcoin to provide digital proof of identity<\/h2>\n\n\n\n
Worldcoin has been the centre of attention due to its promise of a biometric proof of identity. Sam Altman, CEO of OpenAI<\/a>, the firm behind ChatGPT, created the crypto project. Altman says World IDs are needed in this era of generative chatbots like ChatGPT.<\/p>\n\n\n\n
Worldcoin uses a device called \"The Orb\" to scan people's irises, generating a personally identifiable Worldcoin ID. The functionality has, however, been criticized for potential security and privacy violations. <\/p>\n\n\n\n
Altman believes Worldcoin would offer a reliable way to distinguish humans from bots while protecting privacy. It will also reduce fraud since only real people can own World IDs.<\/p>\n\n\n\n
Meanwhile, Altman is eyeing a global expansion, with the OpenAI CEO targeting up to 2 billion users. The project has already earned over 2 million users from the beta sign-up period.  <\/p>\n","post_title":"Binance Lists OpenAI-Affiliated Worldcoin Amid High Market Speculation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-lists-openai-affiliated-worldcoin-amid-high-market-speculation","to_ping":"","pinged":"","post_modified":"2023-07-25 23:29:00","post_modified_gmt":"2023-07-25 13:29:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12708","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":12524,"post_author":"1","post_date":"2023-07-15 23:36:16","post_date_gmt":"2023-07-15 13:36:16","post_content":"\n
\n
Ripple scored a landmark victory over the regulator on Thursday.<\/li>\n\n\n\n
The prolonged legal battle is expected to shape the regulations for digital assets.<\/li>\n<\/ul>\n\n\n\n
JP Morgan viewed the court ruling for Ripple as a significant victory. However, according to the investment banking giant, the regulations by enforcement are far from over. <\/p>\n\n\n\n
On Thursday, the US Southern District Court ruled partially in favor of Ripple, the FinTech company that issues XRP. The SEC and Ripple's 2-year legal battle concluded with the ruling that cryptocurrency issuance on exchanges is not an investment contract.<\/p>\n\n\n\n
\"This ruling is undoubtedly a milestone win for the industry. It provides legal clarity and defense around what does and does not constitute a security, and that overall outcome is in favor of what many in the industry had been arguing,\"<\/em> JP Morgan wrote<\/a> in the note seen by Coindesk.<\/p>\n\n\n\n
Following the landmark ruling, the price of cryptocurrencies soared as sentiment changed in the digital asset space. The cost of XRP rose by about 70%, while Bitcoin reached its highest level in more than a year.<\/p>\n\n\n\n
SEC's Next Step<\/h2>\n\n\n\n
However, according to JPMorgan, the ruling may not be the end of what has come to be termed as regulations by enforcement by the SEC, as the regulator could appeal the case or bring similar charges against other cryptocurrency companies.<\/p>\n\n\n\n
In June, Binance, the leading crypto exchange, faced 13 charges from the SEC, one being the sale of unauthorized securities. The regulator sued Coinbase, the largest US cryptocurrency exchange, for security law violations. <\/p>\n\n\n\n
At the start of the year, the SEC brought charges<\/a> against Gemini and Genesis for allegedly violating the securities regulations related to crypto lending. In February, it\u00a0 fined crypto exchange Kraken<\/a>\u00a0$30 million and ordered the platform to cease offering staking services to US users.<\/p>\n","post_title":"Ripple-SEC Ruling \u2018A Win\u2019 For Crypto Industry But Regulatory War Not Over, JP Morgan Says","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-sec-ruling-a-win-for-crypto-industry-but-regulatory-war-not-over-jp-morgan-says","to_ping":"","pinged":"","post_modified":"2023-07-15 23:36:25","post_modified_gmt":"2023-07-15 13:36:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11929,"post_author":"15","post_date":"2023-06-08 22:45:46","post_date_gmt":"2023-06-08 12:45:46","post_content":"\n
Arbitrum, a layer 2 blockchain, halts the process of transactions due to funding issues. With over $2.24 billion in deposits, the network experiences an hour-long standstill due to gas shortage. <\/p>\n\n\n\n
Developers on the Arbitrum Discord server<\/a> faced connectivity issues with the network's sequencer. The software is responsible for bundling and confirming transactions on the Ethereum network.<\/p>\n\n\n\n
According to on-chain records<\/a>, the sequencer exhausted its supply of Ether, the native cryptocurrency of Ethereum used for transaction fees<\/a>. Without sufficient Ether to cover the fees, the sequencer could not process transactions on Ethereum, resulting in Arbitrum coming to a halt.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
What's Next to Arbitrum?<\/h2>\n\n\n\n
Following an hour-long period of transaction processing failure, Arbitrum has resumed its operations. A wallet that had previously transferred funds to the Arbitrum multi-signature wallet sent 1.4 Ether to the sequence. This replenishment enabled the sequencer to resume sending transactions to Ethereum.<\/p>\n\n\n\n
The cause behind the depletion of gas in Arbitrum's sequencer remains uncertain. Since its launch in May 2021, the sequencer has only been manually refuelled with Ether on four occasions.<\/p>\n\n\n\n
The recent event highlights the reliance of Arbitrum on a centralized control point. Offchain Labs, the company behind Arbitrum, has expressed its plans to decentralize the network's sequencer. <\/p>\n","post_title":"Arbitrum Faces Temporary Shutdown Due To Gas Shortage","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"arbitrum-faces-temporary-shutdown-due-to-gas-shortage","to_ping":"","pinged":"","post_modified":"2023-06-08 22:45:55","post_modified_gmt":"2023-06-08 12:45:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11929","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11770,"post_author":"13","post_date":"2023-05-18 00:31:26","post_date_gmt":"2023-05-17 14:31:26","post_content":"\n
\n
Judge Analisa Torres has declined a motion by the commission to seal essential documents in the legal tussle.  <\/li>\n\n\n\n
The price of the native XRP token has surged following the ruling.<\/li>\n<\/ul>\n\n\n\n
A US judge presiding over the case between Ripple and the Securities and Exchange Commission (SEC) has rejected a motion filed by the regulator to seal some of the essential documents.<\/p>\n\n\n\n
Judge Analisa Torres of the US District Court has disagreed<\/a> with SEC\u2019s move to seal Hinman\u2019s Speech documents, comprising emails, text messages, and expert reports, saying they were \u2018judicial documents\u2019 subject to a strong presumption of public access.<\/p>\n\n\n\n
As a recap, the SEC is suing<\/a> Ripple for selling unregistered securities. At the centre of the legal matter is a controversial speech by the former finance division director at the commission, William Hinman, who stated that Ether, the native cryptocurrency to the Ethereum blockchain, was not a security. The statement is believed to influence the much-awaited summary judgment considerably.<\/p>\n\n\n\n
The SEC\u2019s Position On The Matter<\/h2>\n\n\n\n
On December 22, the SEC filed a motion before Judge Torres to have all the documents containing Hinman\u2019s speech sealed from the public, saying they were irrelevant to the court\u2019s summary judgment. Further, the commission added that having the documents sealed preserved \u2018openness and candour\u2019, which the court has also rejected.<\/p>\n\n\n\n
\u2018\u2018Regardless of whether the court ultimately determines that the Hinman Speech Documents are admissible, or whether the court relies on the documents in ruling on the summary judgment motions, they are judicial documents subject to a strong presumption of public access because they are \u2018relevant to the performance of the judicial function and useful in the judicial process,'\" <\/em>read the ruling.<\/p>\n\n\n\n
XRP has added more than 5% in the past 24 hours following the development and was trading at $0.4487 at the time of writing. <\/p>\n","post_title":"Ripple Scores Major Victory In Case With The SEC As Court Denies Motion Filed By The Regulator","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-scores-major-victory-in-case-with-the-sec-as-court-denies-motion-filed-by-the-regulator","to_ping":"","pinged":"","post_modified":"2023-05-18 00:31:29","post_modified_gmt":"2023-05-17 14:31:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11770","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11728,"post_author":"12","post_date":"2023-05-15 16:06:43","post_date_gmt":"2023-05-15 06:06:43","post_content":"\n
A recent report<\/a> from Financial Times found that Worldcoin, a cryptocurrency project launched by OpenAI CEO Sam Altman, is close to securing $100M in funding. Those already backing the project include; a16z, Digital Currency Group and Coinbase Ventures; the new round of funding includes \u201cexisting and new investors.\u201d<\/em><\/p>\n\n\n\n
The project<\/a> was founded in 2020 by Sam Altman, Alex Blania, and Max Novendstern. With over 1,697,000 sign ups already, Worldcoin aims to build \"the world\u2019s largest identity and financial network as a public utility, giving ownership to everyone, [and] to create universal access to the global economy regardless of country or background, accelerating the transition to an economic future that welcomes and benefits every person on the planet.<\/em><\/p>\n\n\n\n
In March 2022, The Information\u00a0reported<\/a>\u00a0that the firm was looking to raise $100M\u00a0from investors through a private token sale, citing two people familiar with the situation. These sources stated that \u201cit\u2019s a bear market, a crypto winter. It\u2019s remarkable for a project in this space to get this amount of investment.\u201d<\/em><\/p>\n\n\n\n
Worldcoin Verification, Adoption, And Account Abstraction<\/h2>\n\n\n\nWorldcoin launched a gas-free crypto wallet in early May of 2023 called World App. This wallet relies on a system called World ID which uses zero-knowledge proofs to verify that you're a real human with either a phone number or iris scan. The gasless transactions rely upon account abstraction<\/a>, a popular protocol on Ethereum, under ERC-4337<\/a>.<\/p>\n\n\n\n
World App is also integrated with Uniswap, so users can swap currencies in the wallet.<\/p>\n\n\n\n
Worldcoin has been in its beta for some time now; within \"the next six weeks\" the blockchain protocol is expected to launch and with that, transactions will begin being recorded.<\/p>\n","post_title":"OpenAI's Sam Altman To Secure $100M For Worldcoin; Will Start Recording Transactions In 6 Weeks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openais-sam-altman-to-secure-100m-for-worldcoin-will-start-recording-transactions-in-6-weeks","to_ping":"","pinged":"","post_modified":"2023-05-15 16:06:46","post_modified_gmt":"2023-05-15 06:06:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11728","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11677,"post_author":"15","post_date":"2023-05-13 00:36:12","post_date_gmt":"2023-05-12 14:36:12","post_content":"\n
In the last 24 hours, $46.37 million worth of $PEPE has been deposited into exchanges. The meme coin has net deposits from 1,176 addresses amounting to $22.94 million. $PEPE has seen a significant drop of 31% in value, shrinking its market value to around $500 million, as reported <\/a>by ScopeProtocol.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/ScopeProtocol\/status\/1656916635134066688?s=20\n<\/div><\/figure>\n\n\n\n
$PEPE is a meme coin that has gained significant popularity in cryptocurrency. It has captured the attention of crypto enthusiasts and investors due to its unique and humorous nature.<\/p>\n\n\n\n
Despite its playful image, $PEPE has also experienced fluctuations in its market price. This volatility is characteristic of many memecoins, as trends, speculation, and the overall sentiment of the market can influence their prices.<\/p>\n\n\n\n
More On Memecoins<\/h2>\n\n\n\n
On May 11, 2023, @lookonchain<\/a>, a prominent cryptocurrency analyst, tweeted<\/a> about $PEPE and $LADYs (another meme coin). In his tweet, he praised how a cryptocurrency trader made huge profits trading meme coins. The trader bought $PEPE on Apr 18 and $LADYS before Elon Musk tweeted. In summary, his investment gained 36x on $PEPE and 35x on $LADYS. <\/p>\n\n\n\n
The meme coin phenomenon has emerged as a culture in the cryptocurrency space. We can notably refer to prominent meme coins like Dogecoin ($DOGE) and Shiba Inu ($SHIB). At the time of writing, these two cryptocurrencies ranked number 8 and number 15, respectively, according to Coinmarketcap. $DOGE and $SHIB have paved the way for other meme coins to gain traction in the crypto market.<\/p>\n","post_title":"Massive $PEPE Deposits Shake Crypto Exchanges; Market Value Plunges","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"massive-pepe-deposits-shake-crypto-exchanges-market-value-plunges","to_ping":"","pinged":"","post_modified":"2023-05-13 00:36:16","post_modified_gmt":"2023-05-12 14:36:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11677","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11401,"post_author":"13","post_date":"2023-05-02 11:29:00","post_date_gmt":"2023-05-02 01:29:00","post_content":"\n
\n
SUI farming will open for two days on BNB and TUSD pools beginning May 1.<\/li>\n\n\n\n
The token is expected to list afterward on Binance against BTC, USDT, TUSD, and BNB.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Binance has unveiled its 33rd project on Binance Luanchpoool, Sui, that allows users to farm SUI tokens using staked BNB and TrueUSD (TUSD).<\/p>\n\n\n\n
According to the announcement<\/a> on April 30, the farming of SUI tokens would run for 2 days beginning May 1. After that, the asset would be listed on Binance under trading pairs SUI\/BTC, SUI\/USDT, SUITUSD, and SUI\/BNB, subject to the relevant liquidity requirements.<\/p>\n\n\n\n
40 million SUI tokens are set for launchpool token rewards, 0.4% of the total token supply of 10 billion. So far, more than 9 million BNB tokens have been staked on the BNB pool, while the TUSD pool has more than 450 million staked TUSD.<\/p>\n\n\n\n
DPoS Layer-1 Blockchain<\/h2>\n\n\n\n
Sui<\/a> operates as a delegated proof of stake (DPoS) layer-1 blockchain<\/a> written on the Move programming language. The project has since raised $300 million in a series B funding round backed by Binance Labs and Coinbase - bringing its valuation to $2 billion.<\/p>\n\n\n\n
The project, hyped by its community of supporters as the \u2018Ethereum Killer\u2019<\/em>, uses a unique technology involving a parallel data model and execution engine to enhance transaction scaling. Besides, the blockchain employs an object-centric model for processing parallel transactions.<\/p>\n\n\n\n
The unveiling has pumped the price of Binance\u2019s native BNB token upwards despite a bearish market momentum. At press time, the token was changing hands for $333, representing a jump of 3% in the past day.<\/p>\n","post_title":"Binance Launches SUI Farming With Staked BNB And TrueUSD","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-launches-sui-farming-with-staked-bnb-and-trueusd","to_ping":"","pinged":"","post_modified":"2023-05-04 13:03:20","post_modified_gmt":"2023-05-04 03:03:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 … 10 Next

Most Read

Altcoins

Ripple Challenges SEC’s Bid For Appeal In Legal Battle

September 3, 2023

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Artificial Intelligence

Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

August 15, 2024

Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

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By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
Worldcoin promises biometric proof of identity amid the growing usage of AI.<\/li>\n<\/ul>\n\n\n\n
WLD, the token of the controversial identity-providing crypto project Worldcoin, launched<\/a> on Monday, July 24. Binance announced<\/a> it had listed the token, welcoming users to participate in new trading pairs WLD\/BTC and WLD\/USDT.<\/p>\n\n\n\n
The listing was a significant milestone for WLD as the token generated a frenzy afterwards, rising by four-digit percentages. Binance said that token withdrawal will begin on July 25, 2023, at 17:00 Eastern Eighth District Time. Other exchanges that listed the token were OKX, Huobi, and Bybit.\u00a0<\/p>\n\n\n\n
Worldcoin<\/a> plans to control almost 20% of tokens. The team will use the money for orb production, maintenance, and ecosystem development.<\/p>\n\n\n\n
Worldcoin to provide digital proof of identity<\/h2>\n\n\n\n
Worldcoin has been the centre of attention due to its promise of a biometric proof of identity. Sam Altman, CEO of OpenAI<\/a>, the firm behind ChatGPT, created the crypto project. Altman says World IDs are needed in this era of generative chatbots like ChatGPT.<\/p>\n\n\n\n
Worldcoin uses a device called \"The Orb\" to scan people's irises, generating a personally identifiable Worldcoin ID. The functionality has, however, been criticized for potential security and privacy violations. <\/p>\n\n\n\n
Altman believes Worldcoin would offer a reliable way to distinguish humans from bots while protecting privacy. It will also reduce fraud since only real people can own World IDs.<\/p>\n\n\n\n
Meanwhile, Altman is eyeing a global expansion, with the OpenAI CEO targeting up to 2 billion users. The project has already earned over 2 million users from the beta sign-up period.  <\/p>\n","post_title":"Binance Lists OpenAI-Affiliated Worldcoin Amid High Market Speculation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-lists-openai-affiliated-worldcoin-amid-high-market-speculation","to_ping":"","pinged":"","post_modified":"2023-07-25 23:29:00","post_modified_gmt":"2023-07-25 13:29:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12708","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":12524,"post_author":"1","post_date":"2023-07-15 23:36:16","post_date_gmt":"2023-07-15 13:36:16","post_content":"\n
\n
Ripple scored a landmark victory over the regulator on Thursday.<\/li>\n\n\n\n
The prolonged legal battle is expected to shape the regulations for digital assets.<\/li>\n<\/ul>\n\n\n\n
JP Morgan viewed the court ruling for Ripple as a significant victory. However, according to the investment banking giant, the regulations by enforcement are far from over. <\/p>\n\n\n\n
On Thursday, the US Southern District Court ruled partially in favor of Ripple, the FinTech company that issues XRP. The SEC and Ripple's 2-year legal battle concluded with the ruling that cryptocurrency issuance on exchanges is not an investment contract.<\/p>\n\n\n\n
\"This ruling is undoubtedly a milestone win for the industry. It provides legal clarity and defense around what does and does not constitute a security, and that overall outcome is in favor of what many in the industry had been arguing,\"<\/em> JP Morgan wrote<\/a> in the note seen by Coindesk.<\/p>\n\n\n\n
Following the landmark ruling, the price of cryptocurrencies soared as sentiment changed in the digital asset space. The cost of XRP rose by about 70%, while Bitcoin reached its highest level in more than a year.<\/p>\n\n\n\n
SEC's Next Step<\/h2>\n\n\n\n
However, according to JPMorgan, the ruling may not be the end of what has come to be termed as regulations by enforcement by the SEC, as the regulator could appeal the case or bring similar charges against other cryptocurrency companies.<\/p>\n\n\n\n
In June, Binance, the leading crypto exchange, faced 13 charges from the SEC, one being the sale of unauthorized securities. The regulator sued Coinbase, the largest US cryptocurrency exchange, for security law violations. <\/p>\n\n\n\n
At the start of the year, the SEC brought charges<\/a> against Gemini and Genesis for allegedly violating the securities regulations related to crypto lending. In February, it\u00a0 fined crypto exchange Kraken<\/a>\u00a0$30 million and ordered the platform to cease offering staking services to US users.<\/p>\n","post_title":"Ripple-SEC Ruling \u2018A Win\u2019 For Crypto Industry But Regulatory War Not Over, JP Morgan Says","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-sec-ruling-a-win-for-crypto-industry-but-regulatory-war-not-over-jp-morgan-says","to_ping":"","pinged":"","post_modified":"2023-07-15 23:36:25","post_modified_gmt":"2023-07-15 13:36:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11929,"post_author":"15","post_date":"2023-06-08 22:45:46","post_date_gmt":"2023-06-08 12:45:46","post_content":"\n
Arbitrum, a layer 2 blockchain, halts the process of transactions due to funding issues. With over $2.24 billion in deposits, the network experiences an hour-long standstill due to gas shortage. <\/p>\n\n\n\n
Developers on the Arbitrum Discord server<\/a> faced connectivity issues with the network's sequencer. The software is responsible for bundling and confirming transactions on the Ethereum network.<\/p>\n\n\n\n
According to on-chain records<\/a>, the sequencer exhausted its supply of Ether, the native cryptocurrency of Ethereum used for transaction fees<\/a>. Without sufficient Ether to cover the fees, the sequencer could not process transactions on Ethereum, resulting in Arbitrum coming to a halt.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
What's Next to Arbitrum?<\/h2>\n\n\n\n
Following an hour-long period of transaction processing failure, Arbitrum has resumed its operations. A wallet that had previously transferred funds to the Arbitrum multi-signature wallet sent 1.4 Ether to the sequence. This replenishment enabled the sequencer to resume sending transactions to Ethereum.<\/p>\n\n\n\n
The cause behind the depletion of gas in Arbitrum's sequencer remains uncertain. Since its launch in May 2021, the sequencer has only been manually refuelled with Ether on four occasions.<\/p>\n\n\n\n
The recent event highlights the reliance of Arbitrum on a centralized control point. Offchain Labs, the company behind Arbitrum, has expressed its plans to decentralize the network's sequencer. <\/p>\n","post_title":"Arbitrum Faces Temporary Shutdown Due To Gas Shortage","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"arbitrum-faces-temporary-shutdown-due-to-gas-shortage","to_ping":"","pinged":"","post_modified":"2023-06-08 22:45:55","post_modified_gmt":"2023-06-08 12:45:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11929","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11770,"post_author":"13","post_date":"2023-05-18 00:31:26","post_date_gmt":"2023-05-17 14:31:26","post_content":"\n
\n
Judge Analisa Torres has declined a motion by the commission to seal essential documents in the legal tussle.  <\/li>\n\n\n\n
The price of the native XRP token has surged following the ruling.<\/li>\n<\/ul>\n\n\n\n
A US judge presiding over the case between Ripple and the Securities and Exchange Commission (SEC) has rejected a motion filed by the regulator to seal some of the essential documents.<\/p>\n\n\n\n
Judge Analisa Torres of the US District Court has disagreed<\/a> with SEC\u2019s move to seal Hinman\u2019s Speech documents, comprising emails, text messages, and expert reports, saying they were \u2018judicial documents\u2019 subject to a strong presumption of public access.<\/p>\n\n\n\n
As a recap, the SEC is suing<\/a> Ripple for selling unregistered securities. At the centre of the legal matter is a controversial speech by the former finance division director at the commission, William Hinman, who stated that Ether, the native cryptocurrency to the Ethereum blockchain, was not a security. The statement is believed to influence the much-awaited summary judgment considerably.<\/p>\n\n\n\n
The SEC\u2019s Position On The Matter<\/h2>\n\n\n\n
On December 22, the SEC filed a motion before Judge Torres to have all the documents containing Hinman\u2019s speech sealed from the public, saying they were irrelevant to the court\u2019s summary judgment. Further, the commission added that having the documents sealed preserved \u2018openness and candour\u2019, which the court has also rejected.<\/p>\n\n\n\n
\u2018\u2018Regardless of whether the court ultimately determines that the Hinman Speech Documents are admissible, or whether the court relies on the documents in ruling on the summary judgment motions, they are judicial documents subject to a strong presumption of public access because they are \u2018relevant to the performance of the judicial function and useful in the judicial process,'\" <\/em>read the ruling.<\/p>\n\n\n\n
XRP has added more than 5% in the past 24 hours following the development and was trading at $0.4487 at the time of writing. <\/p>\n","post_title":"Ripple Scores Major Victory In Case With The SEC As Court Denies Motion Filed By The Regulator","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-scores-major-victory-in-case-with-the-sec-as-court-denies-motion-filed-by-the-regulator","to_ping":"","pinged":"","post_modified":"2023-05-18 00:31:29","post_modified_gmt":"2023-05-17 14:31:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11770","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11728,"post_author":"12","post_date":"2023-05-15 16:06:43","post_date_gmt":"2023-05-15 06:06:43","post_content":"\n
A recent report<\/a> from Financial Times found that Worldcoin, a cryptocurrency project launched by OpenAI CEO Sam Altman, is close to securing $100M in funding. Those already backing the project include; a16z, Digital Currency Group and Coinbase Ventures; the new round of funding includes \u201cexisting and new investors.\u201d<\/em><\/p>\n\n\n\n
The project<\/a> was founded in 2020 by Sam Altman, Alex Blania, and Max Novendstern. With over 1,697,000 sign ups already, Worldcoin aims to build \"the world\u2019s largest identity and financial network as a public utility, giving ownership to everyone, [and] to create universal access to the global economy regardless of country or background, accelerating the transition to an economic future that welcomes and benefits every person on the planet.<\/em><\/p>\n\n\n\n
In March 2022, The Information\u00a0reported<\/a>\u00a0that the firm was looking to raise $100M\u00a0from investors through a private token sale, citing two people familiar with the situation. These sources stated that \u201cit\u2019s a bear market, a crypto winter. It\u2019s remarkable for a project in this space to get this amount of investment.\u201d<\/em><\/p>\n\n\n\n
Worldcoin Verification, Adoption, And Account Abstraction<\/h2>\n\n\n\nWorldcoin launched a gas-free crypto wallet in early May of 2023 called World App. This wallet relies on a system called World ID which uses zero-knowledge proofs to verify that you're a real human with either a phone number or iris scan. The gasless transactions rely upon account abstraction<\/a>, a popular protocol on Ethereum, under ERC-4337<\/a>.<\/p>\n\n\n\n
World App is also integrated with Uniswap, so users can swap currencies in the wallet.<\/p>\n\n\n\n
Worldcoin has been in its beta for some time now; within \"the next six weeks\" the blockchain protocol is expected to launch and with that, transactions will begin being recorded.<\/p>\n","post_title":"OpenAI's Sam Altman To Secure $100M For Worldcoin; Will Start Recording Transactions In 6 Weeks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openais-sam-altman-to-secure-100m-for-worldcoin-will-start-recording-transactions-in-6-weeks","to_ping":"","pinged":"","post_modified":"2023-05-15 16:06:46","post_modified_gmt":"2023-05-15 06:06:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11728","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11677,"post_author":"15","post_date":"2023-05-13 00:36:12","post_date_gmt":"2023-05-12 14:36:12","post_content":"\n
In the last 24 hours, $46.37 million worth of $PEPE has been deposited into exchanges. The meme coin has net deposits from 1,176 addresses amounting to $22.94 million. $PEPE has seen a significant drop of 31% in value, shrinking its market value to around $500 million, as reported <\/a>by ScopeProtocol.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/ScopeProtocol\/status\/1656916635134066688?s=20\n<\/div><\/figure>\n\n\n\n
$PEPE is a meme coin that has gained significant popularity in cryptocurrency. It has captured the attention of crypto enthusiasts and investors due to its unique and humorous nature.<\/p>\n\n\n\n
Despite its playful image, $PEPE has also experienced fluctuations in its market price. This volatility is characteristic of many memecoins, as trends, speculation, and the overall sentiment of the market can influence their prices.<\/p>\n\n\n\n
More On Memecoins<\/h2>\n\n\n\n
On May 11, 2023, @lookonchain<\/a>, a prominent cryptocurrency analyst, tweeted<\/a> about $PEPE and $LADYs (another meme coin). In his tweet, he praised how a cryptocurrency trader made huge profits trading meme coins. The trader bought $PEPE on Apr 18 and $LADYS before Elon Musk tweeted. In summary, his investment gained 36x on $PEPE and 35x on $LADYS. <\/p>\n\n\n\n
The meme coin phenomenon has emerged as a culture in the cryptocurrency space. We can notably refer to prominent meme coins like Dogecoin ($DOGE) and Shiba Inu ($SHIB). At the time of writing, these two cryptocurrencies ranked number 8 and number 15, respectively, according to Coinmarketcap. $DOGE and $SHIB have paved the way for other meme coins to gain traction in the crypto market.<\/p>\n","post_title":"Massive $PEPE Deposits Shake Crypto Exchanges; Market Value Plunges","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"massive-pepe-deposits-shake-crypto-exchanges-market-value-plunges","to_ping":"","pinged":"","post_modified":"2023-05-13 00:36:16","post_modified_gmt":"2023-05-12 14:36:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11677","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11401,"post_author":"13","post_date":"2023-05-02 11:29:00","post_date_gmt":"2023-05-02 01:29:00","post_content":"\n
\n
SUI farming will open for two days on BNB and TUSD pools beginning May 1.<\/li>\n\n\n\n
The token is expected to list afterward on Binance against BTC, USDT, TUSD, and BNB.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Binance has unveiled its 33rd project on Binance Luanchpoool, Sui, that allows users to farm SUI tokens using staked BNB and TrueUSD (TUSD).<\/p>\n\n\n\n
According to the announcement<\/a> on April 30, the farming of SUI tokens would run for 2 days beginning May 1. After that, the asset would be listed on Binance under trading pairs SUI\/BTC, SUI\/USDT, SUITUSD, and SUI\/BNB, subject to the relevant liquidity requirements.<\/p>\n\n\n\n
40 million SUI tokens are set for launchpool token rewards, 0.4% of the total token supply of 10 billion. So far, more than 9 million BNB tokens have been staked on the BNB pool, while the TUSD pool has more than 450 million staked TUSD.<\/p>\n\n\n\n
DPoS Layer-1 Blockchain<\/h2>\n\n\n\n
Sui<\/a> operates as a delegated proof of stake (DPoS) layer-1 blockchain<\/a> written on the Move programming language. The project has since raised $300 million in a series B funding round backed by Binance Labs and Coinbase - bringing its valuation to $2 billion.<\/p>\n\n\n\n
The project, hyped by its community of supporters as the \u2018Ethereum Killer\u2019<\/em>, uses a unique technology involving a parallel data model and execution engine to enhance transaction scaling. Besides, the blockchain employs an object-centric model for processing parallel transactions.<\/p>\n\n\n\n
The unveiling has pumped the price of Binance\u2019s native BNB token upwards despite a bearish market momentum. At press time, the token was changing hands for $333, representing a jump of 3% in the past day.<\/p>\n","post_title":"Binance Launches SUI Farming With Staked BNB And TrueUSD","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-launches-sui-farming-with-staked-bnb-and-trueusd","to_ping":"","pinged":"","post_modified":"2023-05-04 13:03:20","post_modified_gmt":"2023-05-04 03:03:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
Worldcoin token, WLD, rose by four-digit percentages after launch and listing on Monday.<\/li>\n\n\n\n
Worldcoin promises biometric proof of identity amid the growing usage of AI.<\/li>\n<\/ul>\n\n\n\n
WLD, the token of the controversial identity-providing crypto project Worldcoin, launched<\/a> on Monday, July 24. Binance announced<\/a> it had listed the token, welcoming users to participate in new trading pairs WLD\/BTC and WLD\/USDT.<\/p>\n\n\n\n
The listing was a significant milestone for WLD as the token generated a frenzy afterwards, rising by four-digit percentages. Binance said that token withdrawal will begin on July 25, 2023, at 17:00 Eastern Eighth District Time. Other exchanges that listed the token were OKX, Huobi, and Bybit.\u00a0<\/p>\n\n\n\n
Worldcoin<\/a> plans to control almost 20% of tokens. The team will use the money for orb production, maintenance, and ecosystem development.<\/p>\n\n\n\n
Worldcoin to provide digital proof of identity<\/h2>\n\n\n\n
Worldcoin has been the centre of attention due to its promise of a biometric proof of identity. Sam Altman, CEO of OpenAI<\/a>, the firm behind ChatGPT, created the crypto project. Altman says World IDs are needed in this era of generative chatbots like ChatGPT.<\/p>\n\n\n\n
Worldcoin uses a device called \"The Orb\" to scan people's irises, generating a personally identifiable Worldcoin ID. The functionality has, however, been criticized for potential security and privacy violations. <\/p>\n\n\n\n
Altman believes Worldcoin would offer a reliable way to distinguish humans from bots while protecting privacy. It will also reduce fraud since only real people can own World IDs.<\/p>\n\n\n\n
Meanwhile, Altman is eyeing a global expansion, with the OpenAI CEO targeting up to 2 billion users. The project has already earned over 2 million users from the beta sign-up period.  <\/p>\n","post_title":"Binance Lists OpenAI-Affiliated Worldcoin Amid High Market Speculation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-lists-openai-affiliated-worldcoin-amid-high-market-speculation","to_ping":"","pinged":"","post_modified":"2023-07-25 23:29:00","post_modified_gmt":"2023-07-25 13:29:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12708","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":12524,"post_author":"1","post_date":"2023-07-15 23:36:16","post_date_gmt":"2023-07-15 13:36:16","post_content":"\n
\n
Ripple scored a landmark victory over the regulator on Thursday.<\/li>\n\n\n\n
The prolonged legal battle is expected to shape the regulations for digital assets.<\/li>\n<\/ul>\n\n\n\n
JP Morgan viewed the court ruling for Ripple as a significant victory. However, according to the investment banking giant, the regulations by enforcement are far from over. <\/p>\n\n\n\n
On Thursday, the US Southern District Court ruled partially in favor of Ripple, the FinTech company that issues XRP. The SEC and Ripple's 2-year legal battle concluded with the ruling that cryptocurrency issuance on exchanges is not an investment contract.<\/p>\n\n\n\n
\"This ruling is undoubtedly a milestone win for the industry. It provides legal clarity and defense around what does and does not constitute a security, and that overall outcome is in favor of what many in the industry had been arguing,\"<\/em> JP Morgan wrote<\/a> in the note seen by Coindesk.<\/p>\n\n\n\n
Following the landmark ruling, the price of cryptocurrencies soared as sentiment changed in the digital asset space. The cost of XRP rose by about 70%, while Bitcoin reached its highest level in more than a year.<\/p>\n\n\n\n
SEC's Next Step<\/h2>\n\n\n\n
However, according to JPMorgan, the ruling may not be the end of what has come to be termed as regulations by enforcement by the SEC, as the regulator could appeal the case or bring similar charges against other cryptocurrency companies.<\/p>\n\n\n\n
In June, Binance, the leading crypto exchange, faced 13 charges from the SEC, one being the sale of unauthorized securities. The regulator sued Coinbase, the largest US cryptocurrency exchange, for security law violations. <\/p>\n\n\n\n
At the start of the year, the SEC brought charges<\/a> against Gemini and Genesis for allegedly violating the securities regulations related to crypto lending. In February, it\u00a0 fined crypto exchange Kraken<\/a>\u00a0$30 million and ordered the platform to cease offering staking services to US users.<\/p>\n","post_title":"Ripple-SEC Ruling \u2018A Win\u2019 For Crypto Industry But Regulatory War Not Over, JP Morgan Says","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-sec-ruling-a-win-for-crypto-industry-but-regulatory-war-not-over-jp-morgan-says","to_ping":"","pinged":"","post_modified":"2023-07-15 23:36:25","post_modified_gmt":"2023-07-15 13:36:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11929,"post_author":"15","post_date":"2023-06-08 22:45:46","post_date_gmt":"2023-06-08 12:45:46","post_content":"\n
Arbitrum, a layer 2 blockchain, halts the process of transactions due to funding issues. With over $2.24 billion in deposits, the network experiences an hour-long standstill due to gas shortage. <\/p>\n\n\n\n
Developers on the Arbitrum Discord server<\/a> faced connectivity issues with the network's sequencer. The software is responsible for bundling and confirming transactions on the Ethereum network.<\/p>\n\n\n\n
According to on-chain records<\/a>, the sequencer exhausted its supply of Ether, the native cryptocurrency of Ethereum used for transaction fees<\/a>. Without sufficient Ether to cover the fees, the sequencer could not process transactions on Ethereum, resulting in Arbitrum coming to a halt.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
What's Next to Arbitrum?<\/h2>\n\n\n\n
Following an hour-long period of transaction processing failure, Arbitrum has resumed its operations. A wallet that had previously transferred funds to the Arbitrum multi-signature wallet sent 1.4 Ether to the sequence. This replenishment enabled the sequencer to resume sending transactions to Ethereum.<\/p>\n\n\n\n
The cause behind the depletion of gas in Arbitrum's sequencer remains uncertain. Since its launch in May 2021, the sequencer has only been manually refuelled with Ether on four occasions.<\/p>\n\n\n\n
The recent event highlights the reliance of Arbitrum on a centralized control point. Offchain Labs, the company behind Arbitrum, has expressed its plans to decentralize the network's sequencer. <\/p>\n","post_title":"Arbitrum Faces Temporary Shutdown Due To Gas Shortage","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"arbitrum-faces-temporary-shutdown-due-to-gas-shortage","to_ping":"","pinged":"","post_modified":"2023-06-08 22:45:55","post_modified_gmt":"2023-06-08 12:45:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11929","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11770,"post_author":"13","post_date":"2023-05-18 00:31:26","post_date_gmt":"2023-05-17 14:31:26","post_content":"\n
\n
Judge Analisa Torres has declined a motion by the commission to seal essential documents in the legal tussle.  <\/li>\n\n\n\n
The price of the native XRP token has surged following the ruling.<\/li>\n<\/ul>\n\n\n\n
A US judge presiding over the case between Ripple and the Securities and Exchange Commission (SEC) has rejected a motion filed by the regulator to seal some of the essential documents.<\/p>\n\n\n\n
Judge Analisa Torres of the US District Court has disagreed<\/a> with SEC\u2019s move to seal Hinman\u2019s Speech documents, comprising emails, text messages, and expert reports, saying they were \u2018judicial documents\u2019 subject to a strong presumption of public access.<\/p>\n\n\n\n
As a recap, the SEC is suing<\/a> Ripple for selling unregistered securities. At the centre of the legal matter is a controversial speech by the former finance division director at the commission, William Hinman, who stated that Ether, the native cryptocurrency to the Ethereum blockchain, was not a security. The statement is believed to influence the much-awaited summary judgment considerably.<\/p>\n\n\n\n
The SEC\u2019s Position On The Matter<\/h2>\n\n\n\n
On December 22, the SEC filed a motion before Judge Torres to have all the documents containing Hinman\u2019s speech sealed from the public, saying they were irrelevant to the court\u2019s summary judgment. Further, the commission added that having the documents sealed preserved \u2018openness and candour\u2019, which the court has also rejected.<\/p>\n\n\n\n
\u2018\u2018Regardless of whether the court ultimately determines that the Hinman Speech Documents are admissible, or whether the court relies on the documents in ruling on the summary judgment motions, they are judicial documents subject to a strong presumption of public access because they are \u2018relevant to the performance of the judicial function and useful in the judicial process,'\" <\/em>read the ruling.<\/p>\n\n\n\n
XRP has added more than 5% in the past 24 hours following the development and was trading at $0.4487 at the time of writing. <\/p>\n","post_title":"Ripple Scores Major Victory In Case With The SEC As Court Denies Motion Filed By The Regulator","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-scores-major-victory-in-case-with-the-sec-as-court-denies-motion-filed-by-the-regulator","to_ping":"","pinged":"","post_modified":"2023-05-18 00:31:29","post_modified_gmt":"2023-05-17 14:31:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11770","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11728,"post_author":"12","post_date":"2023-05-15 16:06:43","post_date_gmt":"2023-05-15 06:06:43","post_content":"\n
A recent report<\/a> from Financial Times found that Worldcoin, a cryptocurrency project launched by OpenAI CEO Sam Altman, is close to securing $100M in funding. Those already backing the project include; a16z, Digital Currency Group and Coinbase Ventures; the new round of funding includes \u201cexisting and new investors.\u201d<\/em><\/p>\n\n\n\n
The project<\/a> was founded in 2020 by Sam Altman, Alex Blania, and Max Novendstern. With over 1,697,000 sign ups already, Worldcoin aims to build \"the world\u2019s largest identity and financial network as a public utility, giving ownership to everyone, [and] to create universal access to the global economy regardless of country or background, accelerating the transition to an economic future that welcomes and benefits every person on the planet.<\/em><\/p>\n\n\n\n
In March 2022, The Information\u00a0reported<\/a>\u00a0that the firm was looking to raise $100M\u00a0from investors through a private token sale, citing two people familiar with the situation. These sources stated that \u201cit\u2019s a bear market, a crypto winter. It\u2019s remarkable for a project in this space to get this amount of investment.\u201d<\/em><\/p>\n\n\n\n
Worldcoin Verification, Adoption, And Account Abstraction<\/h2>\n\n\n\nWorldcoin launched a gas-free crypto wallet in early May of 2023 called World App. This wallet relies on a system called World ID which uses zero-knowledge proofs to verify that you're a real human with either a phone number or iris scan. The gasless transactions rely upon account abstraction<\/a>, a popular protocol on Ethereum, under ERC-4337<\/a>.<\/p>\n\n\n\n
World App is also integrated with Uniswap, so users can swap currencies in the wallet.<\/p>\n\n\n\n
Worldcoin has been in its beta for some time now; within \"the next six weeks\" the blockchain protocol is expected to launch and with that, transactions will begin being recorded.<\/p>\n","post_title":"OpenAI's Sam Altman To Secure $100M For Worldcoin; Will Start Recording Transactions In 6 Weeks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openais-sam-altman-to-secure-100m-for-worldcoin-will-start-recording-transactions-in-6-weeks","to_ping":"","pinged":"","post_modified":"2023-05-15 16:06:46","post_modified_gmt":"2023-05-15 06:06:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11728","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11677,"post_author":"15","post_date":"2023-05-13 00:36:12","post_date_gmt":"2023-05-12 14:36:12","post_content":"\n
In the last 24 hours, $46.37 million worth of $PEPE has been deposited into exchanges. The meme coin has net deposits from 1,176 addresses amounting to $22.94 million. $PEPE has seen a significant drop of 31% in value, shrinking its market value to around $500 million, as reported <\/a>by ScopeProtocol.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/ScopeProtocol\/status\/1656916635134066688?s=20\n<\/div><\/figure>\n\n\n\n
$PEPE is a meme coin that has gained significant popularity in cryptocurrency. It has captured the attention of crypto enthusiasts and investors due to its unique and humorous nature.<\/p>\n\n\n\n
Despite its playful image, $PEPE has also experienced fluctuations in its market price. This volatility is characteristic of many memecoins, as trends, speculation, and the overall sentiment of the market can influence their prices.<\/p>\n\n\n\n
More On Memecoins<\/h2>\n\n\n\n
On May 11, 2023, @lookonchain<\/a>, a prominent cryptocurrency analyst, tweeted<\/a> about $PEPE and $LADYs (another meme coin). In his tweet, he praised how a cryptocurrency trader made huge profits trading meme coins. The trader bought $PEPE on Apr 18 and $LADYS before Elon Musk tweeted. In summary, his investment gained 36x on $PEPE and 35x on $LADYS. <\/p>\n\n\n\n
The meme coin phenomenon has emerged as a culture in the cryptocurrency space. We can notably refer to prominent meme coins like Dogecoin ($DOGE) and Shiba Inu ($SHIB). At the time of writing, these two cryptocurrencies ranked number 8 and number 15, respectively, according to Coinmarketcap. $DOGE and $SHIB have paved the way for other meme coins to gain traction in the crypto market.<\/p>\n","post_title":"Massive $PEPE Deposits Shake Crypto Exchanges; Market Value Plunges","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"massive-pepe-deposits-shake-crypto-exchanges-market-value-plunges","to_ping":"","pinged":"","post_modified":"2023-05-13 00:36:16","post_modified_gmt":"2023-05-12 14:36:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11677","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11401,"post_author":"13","post_date":"2023-05-02 11:29:00","post_date_gmt":"2023-05-02 01:29:00","post_content":"\n
\n
SUI farming will open for two days on BNB and TUSD pools beginning May 1.<\/li>\n\n\n\n
The token is expected to list afterward on Binance against BTC, USDT, TUSD, and BNB.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Binance has unveiled its 33rd project on Binance Luanchpoool, Sui, that allows users to farm SUI tokens using staked BNB and TrueUSD (TUSD).<\/p>\n\n\n\n
According to the announcement<\/a> on April 30, the farming of SUI tokens would run for 2 days beginning May 1. After that, the asset would be listed on Binance under trading pairs SUI\/BTC, SUI\/USDT, SUITUSD, and SUI\/BNB, subject to the relevant liquidity requirements.<\/p>\n\n\n\n
40 million SUI tokens are set for launchpool token rewards, 0.4% of the total token supply of 10 billion. So far, more than 9 million BNB tokens have been staked on the BNB pool, while the TUSD pool has more than 450 million staked TUSD.<\/p>\n\n\n\n
DPoS Layer-1 Blockchain<\/h2>\n\n\n\n
Sui<\/a> operates as a delegated proof of stake (DPoS) layer-1 blockchain<\/a> written on the Move programming language. The project has since raised $300 million in a series B funding round backed by Binance Labs and Coinbase - bringing its valuation to $2 billion.<\/p>\n\n\n\n
The project, hyped by its community of supporters as the \u2018Ethereum Killer\u2019<\/em>, uses a unique technology involving a parallel data model and execution engine to enhance transaction scaling. Besides, the blockchain employs an object-centric model for processing parallel transactions.<\/p>\n\n\n\n
The unveiling has pumped the price of Binance\u2019s native BNB token upwards despite a bearish market momentum. At press time, the token was changing hands for $333, representing a jump of 3% in the past day.<\/p>\n","post_title":"Binance Launches SUI Farming With Staked BNB And TrueUSD","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-launches-sui-farming-with-staked-bnb-and-trueusd","to_ping":"","pinged":"","post_modified":"2023-05-04 13:03:20","post_modified_gmt":"2023-05-04 03:03:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 … 10 Next

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Altcoins

Ripple Challenges SEC’s Bid For Appeal In Legal Battle

September 3, 2023

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

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December 19, 2024

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November 24, 2024

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\n
\n
Worldcoin token, WLD, rose by four-digit percentages after launch and listing on Monday.<\/li>\n\n\n\n
Worldcoin promises biometric proof of identity amid the growing usage of AI.<\/li>\n<\/ul>\n\n\n\n
WLD, the token of the controversial identity-providing crypto project Worldcoin, launched<\/a> on Monday, July 24. Binance announced<\/a> it had listed the token, welcoming users to participate in new trading pairs WLD\/BTC and WLD\/USDT.<\/p>\n\n\n\n
The listing was a significant milestone for WLD as the token generated a frenzy afterwards, rising by four-digit percentages. Binance said that token withdrawal will begin on July 25, 2023, at 17:00 Eastern Eighth District Time. Other exchanges that listed the token were OKX, Huobi, and Bybit.\u00a0<\/p>\n\n\n\n
Worldcoin<\/a> plans to control almost 20% of tokens. The team will use the money for orb production, maintenance, and ecosystem development.<\/p>\n\n\n\n
Worldcoin to provide digital proof of identity<\/h2>\n\n\n\n
Worldcoin has been the centre of attention due to its promise of a biometric proof of identity. Sam Altman, CEO of OpenAI<\/a>, the firm behind ChatGPT, created the crypto project. Altman says World IDs are needed in this era of generative chatbots like ChatGPT.<\/p>\n\n\n\n
Worldcoin uses a device called \"The Orb\" to scan people's irises, generating a personally identifiable Worldcoin ID. The functionality has, however, been criticized for potential security and privacy violations. <\/p>\n\n\n\n
Altman believes Worldcoin would offer a reliable way to distinguish humans from bots while protecting privacy. It will also reduce fraud since only real people can own World IDs.<\/p>\n\n\n\n
Meanwhile, Altman is eyeing a global expansion, with the OpenAI CEO targeting up to 2 billion users. The project has already earned over 2 million users from the beta sign-up period.  <\/p>\n","post_title":"Binance Lists OpenAI-Affiliated Worldcoin Amid High Market Speculation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-lists-openai-affiliated-worldcoin-amid-high-market-speculation","to_ping":"","pinged":"","post_modified":"2023-07-25 23:29:00","post_modified_gmt":"2023-07-25 13:29:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12708","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":12524,"post_author":"1","post_date":"2023-07-15 23:36:16","post_date_gmt":"2023-07-15 13:36:16","post_content":"\n
\n
Ripple scored a landmark victory over the regulator on Thursday.<\/li>\n\n\n\n
The prolonged legal battle is expected to shape the regulations for digital assets.<\/li>\n<\/ul>\n\n\n\n
JP Morgan viewed the court ruling for Ripple as a significant victory. However, according to the investment banking giant, the regulations by enforcement are far from over. <\/p>\n\n\n\n
On Thursday, the US Southern District Court ruled partially in favor of Ripple, the FinTech company that issues XRP. The SEC and Ripple's 2-year legal battle concluded with the ruling that cryptocurrency issuance on exchanges is not an investment contract.<\/p>\n\n\n\n
\"This ruling is undoubtedly a milestone win for the industry. It provides legal clarity and defense around what does and does not constitute a security, and that overall outcome is in favor of what many in the industry had been arguing,\"<\/em> JP Morgan wrote<\/a> in the note seen by Coindesk.<\/p>\n\n\n\n
Following the landmark ruling, the price of cryptocurrencies soared as sentiment changed in the digital asset space. The cost of XRP rose by about 70%, while Bitcoin reached its highest level in more than a year.<\/p>\n\n\n\n
SEC's Next Step<\/h2>\n\n\n\n
However, according to JPMorgan, the ruling may not be the end of what has come to be termed as regulations by enforcement by the SEC, as the regulator could appeal the case or bring similar charges against other cryptocurrency companies.<\/p>\n\n\n\n
In June, Binance, the leading crypto exchange, faced 13 charges from the SEC, one being the sale of unauthorized securities. The regulator sued Coinbase, the largest US cryptocurrency exchange, for security law violations. <\/p>\n\n\n\n
At the start of the year, the SEC brought charges<\/a> against Gemini and Genesis for allegedly violating the securities regulations related to crypto lending. In February, it\u00a0 fined crypto exchange Kraken<\/a>\u00a0$30 million and ordered the platform to cease offering staking services to US users.<\/p>\n","post_title":"Ripple-SEC Ruling \u2018A Win\u2019 For Crypto Industry But Regulatory War Not Over, JP Morgan Says","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-sec-ruling-a-win-for-crypto-industry-but-regulatory-war-not-over-jp-morgan-says","to_ping":"","pinged":"","post_modified":"2023-07-15 23:36:25","post_modified_gmt":"2023-07-15 13:36:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11929,"post_author":"15","post_date":"2023-06-08 22:45:46","post_date_gmt":"2023-06-08 12:45:46","post_content":"\n
Arbitrum, a layer 2 blockchain, halts the process of transactions due to funding issues. With over $2.24 billion in deposits, the network experiences an hour-long standstill due to gas shortage. <\/p>\n\n\n\n
Developers on the Arbitrum Discord server<\/a> faced connectivity issues with the network's sequencer. The software is responsible for bundling and confirming transactions on the Ethereum network.<\/p>\n\n\n\n
According to on-chain records<\/a>, the sequencer exhausted its supply of Ether, the native cryptocurrency of Ethereum used for transaction fees<\/a>. Without sufficient Ether to cover the fees, the sequencer could not process transactions on Ethereum, resulting in Arbitrum coming to a halt.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
What's Next to Arbitrum?<\/h2>\n\n\n\n
Following an hour-long period of transaction processing failure, Arbitrum has resumed its operations. A wallet that had previously transferred funds to the Arbitrum multi-signature wallet sent 1.4 Ether to the sequence. This replenishment enabled the sequencer to resume sending transactions to Ethereum.<\/p>\n\n\n\n
The cause behind the depletion of gas in Arbitrum's sequencer remains uncertain. Since its launch in May 2021, the sequencer has only been manually refuelled with Ether on four occasions.<\/p>\n\n\n\n
The recent event highlights the reliance of Arbitrum on a centralized control point. Offchain Labs, the company behind Arbitrum, has expressed its plans to decentralize the network's sequencer. <\/p>\n","post_title":"Arbitrum Faces Temporary Shutdown Due To Gas Shortage","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"arbitrum-faces-temporary-shutdown-due-to-gas-shortage","to_ping":"","pinged":"","post_modified":"2023-06-08 22:45:55","post_modified_gmt":"2023-06-08 12:45:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11929","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11770,"post_author":"13","post_date":"2023-05-18 00:31:26","post_date_gmt":"2023-05-17 14:31:26","post_content":"\n
\n
Judge Analisa Torres has declined a motion by the commission to seal essential documents in the legal tussle.  <\/li>\n\n\n\n
The price of the native XRP token has surged following the ruling.<\/li>\n<\/ul>\n\n\n\n
A US judge presiding over the case between Ripple and the Securities and Exchange Commission (SEC) has rejected a motion filed by the regulator to seal some of the essential documents.<\/p>\n\n\n\n
Judge Analisa Torres of the US District Court has disagreed<\/a> with SEC\u2019s move to seal Hinman\u2019s Speech documents, comprising emails, text messages, and expert reports, saying they were \u2018judicial documents\u2019 subject to a strong presumption of public access.<\/p>\n\n\n\n
As a recap, the SEC is suing<\/a> Ripple for selling unregistered securities. At the centre of the legal matter is a controversial speech by the former finance division director at the commission, William Hinman, who stated that Ether, the native cryptocurrency to the Ethereum blockchain, was not a security. The statement is believed to influence the much-awaited summary judgment considerably.<\/p>\n\n\n\n
The SEC\u2019s Position On The Matter<\/h2>\n\n\n\n
On December 22, the SEC filed a motion before Judge Torres to have all the documents containing Hinman\u2019s speech sealed from the public, saying they were irrelevant to the court\u2019s summary judgment. Further, the commission added that having the documents sealed preserved \u2018openness and candour\u2019, which the court has also rejected.<\/p>\n\n\n\n
\u2018\u2018Regardless of whether the court ultimately determines that the Hinman Speech Documents are admissible, or whether the court relies on the documents in ruling on the summary judgment motions, they are judicial documents subject to a strong presumption of public access because they are \u2018relevant to the performance of the judicial function and useful in the judicial process,'\" <\/em>read the ruling.<\/p>\n\n\n\n
XRP has added more than 5% in the past 24 hours following the development and was trading at $0.4487 at the time of writing. <\/p>\n","post_title":"Ripple Scores Major Victory In Case With The SEC As Court Denies Motion Filed By The Regulator","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-scores-major-victory-in-case-with-the-sec-as-court-denies-motion-filed-by-the-regulator","to_ping":"","pinged":"","post_modified":"2023-05-18 00:31:29","post_modified_gmt":"2023-05-17 14:31:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11770","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11728,"post_author":"12","post_date":"2023-05-15 16:06:43","post_date_gmt":"2023-05-15 06:06:43","post_content":"\n
A recent report<\/a> from Financial Times found that Worldcoin, a cryptocurrency project launched by OpenAI CEO Sam Altman, is close to securing $100M in funding. Those already backing the project include; a16z, Digital Currency Group and Coinbase Ventures; the new round of funding includes \u201cexisting and new investors.\u201d<\/em><\/p>\n\n\n\n
The project<\/a> was founded in 2020 by Sam Altman, Alex Blania, and Max Novendstern. With over 1,697,000 sign ups already, Worldcoin aims to build \"the world\u2019s largest identity and financial network as a public utility, giving ownership to everyone, [and] to create universal access to the global economy regardless of country or background, accelerating the transition to an economic future that welcomes and benefits every person on the planet.<\/em><\/p>\n\n\n\n
In March 2022, The Information\u00a0reported<\/a>\u00a0that the firm was looking to raise $100M\u00a0from investors through a private token sale, citing two people familiar with the situation. These sources stated that \u201cit\u2019s a bear market, a crypto winter. It\u2019s remarkable for a project in this space to get this amount of investment.\u201d<\/em><\/p>\n\n\n\n
Worldcoin Verification, Adoption, And Account Abstraction<\/h2>\n\n\n\nWorldcoin launched a gas-free crypto wallet in early May of 2023 called World App. This wallet relies on a system called World ID which uses zero-knowledge proofs to verify that you're a real human with either a phone number or iris scan. The gasless transactions rely upon account abstraction<\/a>, a popular protocol on Ethereum, under ERC-4337<\/a>.<\/p>\n\n\n\n
World App is also integrated with Uniswap, so users can swap currencies in the wallet.<\/p>\n\n\n\n
Worldcoin has been in its beta for some time now; within \"the next six weeks\" the blockchain protocol is expected to launch and with that, transactions will begin being recorded.<\/p>\n","post_title":"OpenAI's Sam Altman To Secure $100M For Worldcoin; Will Start Recording Transactions In 6 Weeks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openais-sam-altman-to-secure-100m-for-worldcoin-will-start-recording-transactions-in-6-weeks","to_ping":"","pinged":"","post_modified":"2023-05-15 16:06:46","post_modified_gmt":"2023-05-15 06:06:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11728","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11677,"post_author":"15","post_date":"2023-05-13 00:36:12","post_date_gmt":"2023-05-12 14:36:12","post_content":"\n
In the last 24 hours, $46.37 million worth of $PEPE has been deposited into exchanges. The meme coin has net deposits from 1,176 addresses amounting to $22.94 million. $PEPE has seen a significant drop of 31% in value, shrinking its market value to around $500 million, as reported <\/a>by ScopeProtocol.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/ScopeProtocol\/status\/1656916635134066688?s=20\n<\/div><\/figure>\n\n\n\n
$PEPE is a meme coin that has gained significant popularity in cryptocurrency. It has captured the attention of crypto enthusiasts and investors due to its unique and humorous nature.<\/p>\n\n\n\n
Despite its playful image, $PEPE has also experienced fluctuations in its market price. This volatility is characteristic of many memecoins, as trends, speculation, and the overall sentiment of the market can influence their prices.<\/p>\n\n\n\n
More On Memecoins<\/h2>\n\n\n\n
On May 11, 2023, @lookonchain<\/a>, a prominent cryptocurrency analyst, tweeted<\/a> about $PEPE and $LADYs (another meme coin). In his tweet, he praised how a cryptocurrency trader made huge profits trading meme coins. The trader bought $PEPE on Apr 18 and $LADYS before Elon Musk tweeted. In summary, his investment gained 36x on $PEPE and 35x on $LADYS. <\/p>\n\n\n\n
The meme coin phenomenon has emerged as a culture in the cryptocurrency space. We can notably refer to prominent meme coins like Dogecoin ($DOGE) and Shiba Inu ($SHIB). At the time of writing, these two cryptocurrencies ranked number 8 and number 15, respectively, according to Coinmarketcap. $DOGE and $SHIB have paved the way for other meme coins to gain traction in the crypto market.<\/p>\n","post_title":"Massive $PEPE Deposits Shake Crypto Exchanges; Market Value Plunges","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"massive-pepe-deposits-shake-crypto-exchanges-market-value-plunges","to_ping":"","pinged":"","post_modified":"2023-05-13 00:36:16","post_modified_gmt":"2023-05-12 14:36:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11677","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11401,"post_author":"13","post_date":"2023-05-02 11:29:00","post_date_gmt":"2023-05-02 01:29:00","post_content":"\n
\n
SUI farming will open for two days on BNB and TUSD pools beginning May 1.<\/li>\n\n\n\n
The token is expected to list afterward on Binance against BTC, USDT, TUSD, and BNB.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Binance has unveiled its 33rd project on Binance Luanchpoool, Sui, that allows users to farm SUI tokens using staked BNB and TrueUSD (TUSD).<\/p>\n\n\n\n
According to the announcement<\/a> on April 30, the farming of SUI tokens would run for 2 days beginning May 1. After that, the asset would be listed on Binance under trading pairs SUI\/BTC, SUI\/USDT, SUITUSD, and SUI\/BNB, subject to the relevant liquidity requirements.<\/p>\n\n\n\n
40 million SUI tokens are set for launchpool token rewards, 0.4% of the total token supply of 10 billion. So far, more than 9 million BNB tokens have been staked on the BNB pool, while the TUSD pool has more than 450 million staked TUSD.<\/p>\n\n\n\n
DPoS Layer-1 Blockchain<\/h2>\n\n\n\n
Sui<\/a> operates as a delegated proof of stake (DPoS) layer-1 blockchain<\/a> written on the Move programming language. The project has since raised $300 million in a series B funding round backed by Binance Labs and Coinbase - bringing its valuation to $2 billion.<\/p>\n\n\n\n
The project, hyped by its community of supporters as the \u2018Ethereum Killer\u2019<\/em>, uses a unique technology involving a parallel data model and execution engine to enhance transaction scaling. Besides, the blockchain employs an object-centric model for processing parallel transactions.<\/p>\n\n\n\n
The unveiling has pumped the price of Binance\u2019s native BNB token upwards despite a bearish market momentum. At press time, the token was changing hands for $333, representing a jump of 3% in the past day.<\/p>\n","post_title":"Binance Launches SUI Farming With Staked BNB And TrueUSD","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-launches-sui-farming-with-staked-bnb-and-trueusd","to_ping":"","pinged":"","post_modified":"2023-05-04 13:03:20","post_modified_gmt":"2023-05-04 03:03:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 … 10 Next

Most Read

Altcoins

Ripple Challenges SEC’s Bid For Appeal In Legal Battle

September 3, 2023

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Artificial Intelligence

Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

August 15, 2024

Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

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By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
This prevented re-entry guards\u2014protections that were included in the projects\u2019 code and should guard against re-entry attacks\u2014from working, Meir Dolev said to Decrypt. Meir Dolev is the co-founder and CTO of cybersecurity firm Cyvers<\/p>\n","post_title":"DeFi Projects Suffer $24 Million Heist In Curve Pool Exploits","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"defi-projects-suffer-24-million-heist-in-curve-pool-exploits","to_ping":"","pinged":"","post_modified":"2023-08-03 15:25:13","post_modified_gmt":"2023-08-03 05:25:13","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12829","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":12708,"post_author":"21","post_date":"2023-07-25 23:28:55","post_date_gmt":"2023-07-25 13:28:55","post_content":"\n
\n
Worldcoin token, WLD, rose by four-digit percentages after launch and listing on Monday.<\/li>\n\n\n\n
Worldcoin promises biometric proof of identity amid the growing usage of AI.<\/li>\n<\/ul>\n\n\n\n
WLD, the token of the controversial identity-providing crypto project Worldcoin, launched<\/a> on Monday, July 24. Binance announced<\/a> it had listed the token, welcoming users to participate in new trading pairs WLD\/BTC and WLD\/USDT.<\/p>\n\n\n\n
The listing was a significant milestone for WLD as the token generated a frenzy afterwards, rising by four-digit percentages. Binance said that token withdrawal will begin on July 25, 2023, at 17:00 Eastern Eighth District Time. Other exchanges that listed the token were OKX, Huobi, and Bybit.\u00a0<\/p>\n\n\n\n
Worldcoin<\/a> plans to control almost 20% of tokens. The team will use the money for orb production, maintenance, and ecosystem development.<\/p>\n\n\n\n
Worldcoin to provide digital proof of identity<\/h2>\n\n\n\n
Worldcoin has been the centre of attention due to its promise of a biometric proof of identity. Sam Altman, CEO of OpenAI<\/a>, the firm behind ChatGPT, created the crypto project. Altman says World IDs are needed in this era of generative chatbots like ChatGPT.<\/p>\n\n\n\n
Worldcoin uses a device called \"The Orb\" to scan people's irises, generating a personally identifiable Worldcoin ID. The functionality has, however, been criticized for potential security and privacy violations. <\/p>\n\n\n\n
Altman believes Worldcoin would offer a reliable way to distinguish humans from bots while protecting privacy. It will also reduce fraud since only real people can own World IDs.<\/p>\n\n\n\n
Meanwhile, Altman is eyeing a global expansion, with the OpenAI CEO targeting up to 2 billion users. The project has already earned over 2 million users from the beta sign-up period.  <\/p>\n","post_title":"Binance Lists OpenAI-Affiliated Worldcoin Amid High Market Speculation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-lists-openai-affiliated-worldcoin-amid-high-market-speculation","to_ping":"","pinged":"","post_modified":"2023-07-25 23:29:00","post_modified_gmt":"2023-07-25 13:29:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12708","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":12524,"post_author":"1","post_date":"2023-07-15 23:36:16","post_date_gmt":"2023-07-15 13:36:16","post_content":"\n
\n
Ripple scored a landmark victory over the regulator on Thursday.<\/li>\n\n\n\n
The prolonged legal battle is expected to shape the regulations for digital assets.<\/li>\n<\/ul>\n\n\n\n
JP Morgan viewed the court ruling for Ripple as a significant victory. However, according to the investment banking giant, the regulations by enforcement are far from over. <\/p>\n\n\n\n
On Thursday, the US Southern District Court ruled partially in favor of Ripple, the FinTech company that issues XRP. The SEC and Ripple's 2-year legal battle concluded with the ruling that cryptocurrency issuance on exchanges is not an investment contract.<\/p>\n\n\n\n
\"This ruling is undoubtedly a milestone win for the industry. It provides legal clarity and defense around what does and does not constitute a security, and that overall outcome is in favor of what many in the industry had been arguing,\"<\/em> JP Morgan wrote<\/a> in the note seen by Coindesk.<\/p>\n\n\n\n
Following the landmark ruling, the price of cryptocurrencies soared as sentiment changed in the digital asset space. The cost of XRP rose by about 70%, while Bitcoin reached its highest level in more than a year.<\/p>\n\n\n\n
SEC's Next Step<\/h2>\n\n\n\n
However, according to JPMorgan, the ruling may not be the end of what has come to be termed as regulations by enforcement by the SEC, as the regulator could appeal the case or bring similar charges against other cryptocurrency companies.<\/p>\n\n\n\n
In June, Binance, the leading crypto exchange, faced 13 charges from the SEC, one being the sale of unauthorized securities. The regulator sued Coinbase, the largest US cryptocurrency exchange, for security law violations. <\/p>\n\n\n\n
At the start of the year, the SEC brought charges<\/a> against Gemini and Genesis for allegedly violating the securities regulations related to crypto lending. In February, it\u00a0 fined crypto exchange Kraken<\/a>\u00a0$30 million and ordered the platform to cease offering staking services to US users.<\/p>\n","post_title":"Ripple-SEC Ruling \u2018A Win\u2019 For Crypto Industry But Regulatory War Not Over, JP Morgan Says","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-sec-ruling-a-win-for-crypto-industry-but-regulatory-war-not-over-jp-morgan-says","to_ping":"","pinged":"","post_modified":"2023-07-15 23:36:25","post_modified_gmt":"2023-07-15 13:36:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11929,"post_author":"15","post_date":"2023-06-08 22:45:46","post_date_gmt":"2023-06-08 12:45:46","post_content":"\n
Arbitrum, a layer 2 blockchain, halts the process of transactions due to funding issues. With over $2.24 billion in deposits, the network experiences an hour-long standstill due to gas shortage. <\/p>\n\n\n\n
Developers on the Arbitrum Discord server<\/a> faced connectivity issues with the network's sequencer. The software is responsible for bundling and confirming transactions on the Ethereum network.<\/p>\n\n\n\n
According to on-chain records<\/a>, the sequencer exhausted its supply of Ether, the native cryptocurrency of Ethereum used for transaction fees<\/a>. Without sufficient Ether to cover the fees, the sequencer could not process transactions on Ethereum, resulting in Arbitrum coming to a halt.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
What's Next to Arbitrum?<\/h2>\n\n\n\n
Following an hour-long period of transaction processing failure, Arbitrum has resumed its operations. A wallet that had previously transferred funds to the Arbitrum multi-signature wallet sent 1.4 Ether to the sequence. This replenishment enabled the sequencer to resume sending transactions to Ethereum.<\/p>\n\n\n\n
The cause behind the depletion of gas in Arbitrum's sequencer remains uncertain. Since its launch in May 2021, the sequencer has only been manually refuelled with Ether on four occasions.<\/p>\n\n\n\n
The recent event highlights the reliance of Arbitrum on a centralized control point. Offchain Labs, the company behind Arbitrum, has expressed its plans to decentralize the network's sequencer. <\/p>\n","post_title":"Arbitrum Faces Temporary Shutdown Due To Gas Shortage","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"arbitrum-faces-temporary-shutdown-due-to-gas-shortage","to_ping":"","pinged":"","post_modified":"2023-06-08 22:45:55","post_modified_gmt":"2023-06-08 12:45:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11929","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11770,"post_author":"13","post_date":"2023-05-18 00:31:26","post_date_gmt":"2023-05-17 14:31:26","post_content":"\n
\n
Judge Analisa Torres has declined a motion by the commission to seal essential documents in the legal tussle.  <\/li>\n\n\n\n
The price of the native XRP token has surged following the ruling.<\/li>\n<\/ul>\n\n\n\n
A US judge presiding over the case between Ripple and the Securities and Exchange Commission (SEC) has rejected a motion filed by the regulator to seal some of the essential documents.<\/p>\n\n\n\n
Judge Analisa Torres of the US District Court has disagreed<\/a> with SEC\u2019s move to seal Hinman\u2019s Speech documents, comprising emails, text messages, and expert reports, saying they were \u2018judicial documents\u2019 subject to a strong presumption of public access.<\/p>\n\n\n\n
As a recap, the SEC is suing<\/a> Ripple for selling unregistered securities. At the centre of the legal matter is a controversial speech by the former finance division director at the commission, William Hinman, who stated that Ether, the native cryptocurrency to the Ethereum blockchain, was not a security. The statement is believed to influence the much-awaited summary judgment considerably.<\/p>\n\n\n\n
The SEC\u2019s Position On The Matter<\/h2>\n\n\n\n
On December 22, the SEC filed a motion before Judge Torres to have all the documents containing Hinman\u2019s speech sealed from the public, saying they were irrelevant to the court\u2019s summary judgment. Further, the commission added that having the documents sealed preserved \u2018openness and candour\u2019, which the court has also rejected.<\/p>\n\n\n\n
\u2018\u2018Regardless of whether the court ultimately determines that the Hinman Speech Documents are admissible, or whether the court relies on the documents in ruling on the summary judgment motions, they are judicial documents subject to a strong presumption of public access because they are \u2018relevant to the performance of the judicial function and useful in the judicial process,'\" <\/em>read the ruling.<\/p>\n\n\n\n
XRP has added more than 5% in the past 24 hours following the development and was trading at $0.4487 at the time of writing. <\/p>\n","post_title":"Ripple Scores Major Victory In Case With The SEC As Court Denies Motion Filed By The Regulator","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-scores-major-victory-in-case-with-the-sec-as-court-denies-motion-filed-by-the-regulator","to_ping":"","pinged":"","post_modified":"2023-05-18 00:31:29","post_modified_gmt":"2023-05-17 14:31:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11770","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11728,"post_author":"12","post_date":"2023-05-15 16:06:43","post_date_gmt":"2023-05-15 06:06:43","post_content":"\n
A recent report<\/a> from Financial Times found that Worldcoin, a cryptocurrency project launched by OpenAI CEO Sam Altman, is close to securing $100M in funding. Those already backing the project include; a16z, Digital Currency Group and Coinbase Ventures; the new round of funding includes \u201cexisting and new investors.\u201d<\/em><\/p>\n\n\n\n
The project<\/a> was founded in 2020 by Sam Altman, Alex Blania, and Max Novendstern. With over 1,697,000 sign ups already, Worldcoin aims to build \"the world\u2019s largest identity and financial network as a public utility, giving ownership to everyone, [and] to create universal access to the global economy regardless of country or background, accelerating the transition to an economic future that welcomes and benefits every person on the planet.<\/em><\/p>\n\n\n\n
In March 2022, The Information\u00a0reported<\/a>\u00a0that the firm was looking to raise $100M\u00a0from investors through a private token sale, citing two people familiar with the situation. These sources stated that \u201cit\u2019s a bear market, a crypto winter. It\u2019s remarkable for a project in this space to get this amount of investment.\u201d<\/em><\/p>\n\n\n\n
Worldcoin Verification, Adoption, And Account Abstraction<\/h2>\n\n\n\nWorldcoin launched a gas-free crypto wallet in early May of 2023 called World App. This wallet relies on a system called World ID which uses zero-knowledge proofs to verify that you're a real human with either a phone number or iris scan. The gasless transactions rely upon account abstraction<\/a>, a popular protocol on Ethereum, under ERC-4337<\/a>.<\/p>\n\n\n\n
World App is also integrated with Uniswap, so users can swap currencies in the wallet.<\/p>\n\n\n\n
Worldcoin has been in its beta for some time now; within \"the next six weeks\" the blockchain protocol is expected to launch and with that, transactions will begin being recorded.<\/p>\n","post_title":"OpenAI's Sam Altman To Secure $100M For Worldcoin; Will Start Recording Transactions In 6 Weeks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openais-sam-altman-to-secure-100m-for-worldcoin-will-start-recording-transactions-in-6-weeks","to_ping":"","pinged":"","post_modified":"2023-05-15 16:06:46","post_modified_gmt":"2023-05-15 06:06:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11728","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11677,"post_author":"15","post_date":"2023-05-13 00:36:12","post_date_gmt":"2023-05-12 14:36:12","post_content":"\n
In the last 24 hours, $46.37 million worth of $PEPE has been deposited into exchanges. The meme coin has net deposits from 1,176 addresses amounting to $22.94 million. $PEPE has seen a significant drop of 31% in value, shrinking its market value to around $500 million, as reported <\/a>by ScopeProtocol.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/ScopeProtocol\/status\/1656916635134066688?s=20\n<\/div><\/figure>\n\n\n\n
$PEPE is a meme coin that has gained significant popularity in cryptocurrency. It has captured the attention of crypto enthusiasts and investors due to its unique and humorous nature.<\/p>\n\n\n\n
Despite its playful image, $PEPE has also experienced fluctuations in its market price. This volatility is characteristic of many memecoins, as trends, speculation, and the overall sentiment of the market can influence their prices.<\/p>\n\n\n\n
More On Memecoins<\/h2>\n\n\n\n
On May 11, 2023, @lookonchain<\/a>, a prominent cryptocurrency analyst, tweeted<\/a> about $PEPE and $LADYs (another meme coin). In his tweet, he praised how a cryptocurrency trader made huge profits trading meme coins. The trader bought $PEPE on Apr 18 and $LADYS before Elon Musk tweeted. In summary, his investment gained 36x on $PEPE and 35x on $LADYS. <\/p>\n\n\n\n
The meme coin phenomenon has emerged as a culture in the cryptocurrency space. We can notably refer to prominent meme coins like Dogecoin ($DOGE) and Shiba Inu ($SHIB). At the time of writing, these two cryptocurrencies ranked number 8 and number 15, respectively, according to Coinmarketcap. $DOGE and $SHIB have paved the way for other meme coins to gain traction in the crypto market.<\/p>\n","post_title":"Massive $PEPE Deposits Shake Crypto Exchanges; Market Value Plunges","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"massive-pepe-deposits-shake-crypto-exchanges-market-value-plunges","to_ping":"","pinged":"","post_modified":"2023-05-13 00:36:16","post_modified_gmt":"2023-05-12 14:36:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11677","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11401,"post_author":"13","post_date":"2023-05-02 11:29:00","post_date_gmt":"2023-05-02 01:29:00","post_content":"\n
\n
SUI farming will open for two days on BNB and TUSD pools beginning May 1.<\/li>\n\n\n\n
The token is expected to list afterward on Binance against BTC, USDT, TUSD, and BNB.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Binance has unveiled its 33rd project on Binance Luanchpoool, Sui, that allows users to farm SUI tokens using staked BNB and TrueUSD (TUSD).<\/p>\n\n\n\n
According to the announcement<\/a> on April 30, the farming of SUI tokens would run for 2 days beginning May 1. After that, the asset would be listed on Binance under trading pairs SUI\/BTC, SUI\/USDT, SUITUSD, and SUI\/BNB, subject to the relevant liquidity requirements.<\/p>\n\n\n\n
40 million SUI tokens are set for launchpool token rewards, 0.4% of the total token supply of 10 billion. So far, more than 9 million BNB tokens have been staked on the BNB pool, while the TUSD pool has more than 450 million staked TUSD.<\/p>\n\n\n\n
DPoS Layer-1 Blockchain<\/h2>\n\n\n\n
Sui<\/a> operates as a delegated proof of stake (DPoS) layer-1 blockchain<\/a> written on the Move programming language. The project has since raised $300 million in a series B funding round backed by Binance Labs and Coinbase - bringing its valuation to $2 billion.<\/p>\n\n\n\n
The project, hyped by its community of supporters as the \u2018Ethereum Killer\u2019<\/em>, uses a unique technology involving a parallel data model and execution engine to enhance transaction scaling. Besides, the blockchain employs an object-centric model for processing parallel transactions.<\/p>\n\n\n\n
The unveiling has pumped the price of Binance\u2019s native BNB token upwards despite a bearish market momentum. At press time, the token was changing hands for $333, representing a jump of 3% in the past day.<\/p>\n","post_title":"Binance Launches SUI Farming With Staked BNB And TrueUSD","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-launches-sui-farming-with-staked-bnb-and-trueusd","to_ping":"","pinged":"","post_modified":"2023-05-04 13:03:20","post_modified_gmt":"2023-05-04 03:03:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
According to Vyper on Twitter, the language's compiler failed, affecting re-entry guards. These guards, included in the projects' code, are designed to protect against re-entry attacks but were ineffective.<\/p>\n\n\n\n
This prevented re-entry guards\u2014protections that were included in the projects\u2019 code and should guard against re-entry attacks\u2014from working, Meir Dolev said to Decrypt. Meir Dolev is the co-founder and CTO of cybersecurity firm Cyvers<\/p>\n","post_title":"DeFi Projects Suffer $24 Million Heist In Curve Pool Exploits","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"defi-projects-suffer-24-million-heist-in-curve-pool-exploits","to_ping":"","pinged":"","post_modified":"2023-08-03 15:25:13","post_modified_gmt":"2023-08-03 05:25:13","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12829","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":12708,"post_author":"21","post_date":"2023-07-25 23:28:55","post_date_gmt":"2023-07-25 13:28:55","post_content":"\n
\n
Worldcoin token, WLD, rose by four-digit percentages after launch and listing on Monday.<\/li>\n\n\n\n
Worldcoin promises biometric proof of identity amid the growing usage of AI.<\/li>\n<\/ul>\n\n\n\n
WLD, the token of the controversial identity-providing crypto project Worldcoin, launched<\/a> on Monday, July 24. Binance announced<\/a> it had listed the token, welcoming users to participate in new trading pairs WLD\/BTC and WLD\/USDT.<\/p>\n\n\n\n
The listing was a significant milestone for WLD as the token generated a frenzy afterwards, rising by four-digit percentages. Binance said that token withdrawal will begin on July 25, 2023, at 17:00 Eastern Eighth District Time. Other exchanges that listed the token were OKX, Huobi, and Bybit.\u00a0<\/p>\n\n\n\n
Worldcoin<\/a> plans to control almost 20% of tokens. The team will use the money for orb production, maintenance, and ecosystem development.<\/p>\n\n\n\n
Worldcoin to provide digital proof of identity<\/h2>\n\n\n\n
Worldcoin has been the centre of attention due to its promise of a biometric proof of identity. Sam Altman, CEO of OpenAI<\/a>, the firm behind ChatGPT, created the crypto project. Altman says World IDs are needed in this era of generative chatbots like ChatGPT.<\/p>\n\n\n\n
Worldcoin uses a device called \"The Orb\" to scan people's irises, generating a personally identifiable Worldcoin ID. The functionality has, however, been criticized for potential security and privacy violations. <\/p>\n\n\n\n
Altman believes Worldcoin would offer a reliable way to distinguish humans from bots while protecting privacy. It will also reduce fraud since only real people can own World IDs.<\/p>\n\n\n\n
Meanwhile, Altman is eyeing a global expansion, with the OpenAI CEO targeting up to 2 billion users. The project has already earned over 2 million users from the beta sign-up period.  <\/p>\n","post_title":"Binance Lists OpenAI-Affiliated Worldcoin Amid High Market Speculation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-lists-openai-affiliated-worldcoin-amid-high-market-speculation","to_ping":"","pinged":"","post_modified":"2023-07-25 23:29:00","post_modified_gmt":"2023-07-25 13:29:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12708","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":12524,"post_author":"1","post_date":"2023-07-15 23:36:16","post_date_gmt":"2023-07-15 13:36:16","post_content":"\n
\n
Ripple scored a landmark victory over the regulator on Thursday.<\/li>\n\n\n\n
The prolonged legal battle is expected to shape the regulations for digital assets.<\/li>\n<\/ul>\n\n\n\n
JP Morgan viewed the court ruling for Ripple as a significant victory. However, according to the investment banking giant, the regulations by enforcement are far from over. <\/p>\n\n\n\n
On Thursday, the US Southern District Court ruled partially in favor of Ripple, the FinTech company that issues XRP. The SEC and Ripple's 2-year legal battle concluded with the ruling that cryptocurrency issuance on exchanges is not an investment contract.<\/p>\n\n\n\n
\"This ruling is undoubtedly a milestone win for the industry. It provides legal clarity and defense around what does and does not constitute a security, and that overall outcome is in favor of what many in the industry had been arguing,\"<\/em> JP Morgan wrote<\/a> in the note seen by Coindesk.<\/p>\n\n\n\n
Following the landmark ruling, the price of cryptocurrencies soared as sentiment changed in the digital asset space. The cost of XRP rose by about 70%, while Bitcoin reached its highest level in more than a year.<\/p>\n\n\n\n
SEC's Next Step<\/h2>\n\n\n\n
However, according to JPMorgan, the ruling may not be the end of what has come to be termed as regulations by enforcement by the SEC, as the regulator could appeal the case or bring similar charges against other cryptocurrency companies.<\/p>\n\n\n\n
In June, Binance, the leading crypto exchange, faced 13 charges from the SEC, one being the sale of unauthorized securities. The regulator sued Coinbase, the largest US cryptocurrency exchange, for security law violations. <\/p>\n\n\n\n
At the start of the year, the SEC brought charges<\/a> against Gemini and Genesis for allegedly violating the securities regulations related to crypto lending. In February, it\u00a0 fined crypto exchange Kraken<\/a>\u00a0$30 million and ordered the platform to cease offering staking services to US users.<\/p>\n","post_title":"Ripple-SEC Ruling \u2018A Win\u2019 For Crypto Industry But Regulatory War Not Over, JP Morgan Says","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-sec-ruling-a-win-for-crypto-industry-but-regulatory-war-not-over-jp-morgan-says","to_ping":"","pinged":"","post_modified":"2023-07-15 23:36:25","post_modified_gmt":"2023-07-15 13:36:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11929,"post_author":"15","post_date":"2023-06-08 22:45:46","post_date_gmt":"2023-06-08 12:45:46","post_content":"\n
Arbitrum, a layer 2 blockchain, halts the process of transactions due to funding issues. With over $2.24 billion in deposits, the network experiences an hour-long standstill due to gas shortage. <\/p>\n\n\n\n
Developers on the Arbitrum Discord server<\/a> faced connectivity issues with the network's sequencer. The software is responsible for bundling and confirming transactions on the Ethereum network.<\/p>\n\n\n\n
According to on-chain records<\/a>, the sequencer exhausted its supply of Ether, the native cryptocurrency of Ethereum used for transaction fees<\/a>. Without sufficient Ether to cover the fees, the sequencer could not process transactions on Ethereum, resulting in Arbitrum coming to a halt.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
What's Next to Arbitrum?<\/h2>\n\n\n\n
Following an hour-long period of transaction processing failure, Arbitrum has resumed its operations. A wallet that had previously transferred funds to the Arbitrum multi-signature wallet sent 1.4 Ether to the sequence. This replenishment enabled the sequencer to resume sending transactions to Ethereum.<\/p>\n\n\n\n
The cause behind the depletion of gas in Arbitrum's sequencer remains uncertain. Since its launch in May 2021, the sequencer has only been manually refuelled with Ether on four occasions.<\/p>\n\n\n\n
The recent event highlights the reliance of Arbitrum on a centralized control point. Offchain Labs, the company behind Arbitrum, has expressed its plans to decentralize the network's sequencer. <\/p>\n","post_title":"Arbitrum Faces Temporary Shutdown Due To Gas Shortage","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"arbitrum-faces-temporary-shutdown-due-to-gas-shortage","to_ping":"","pinged":"","post_modified":"2023-06-08 22:45:55","post_modified_gmt":"2023-06-08 12:45:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11929","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11770,"post_author":"13","post_date":"2023-05-18 00:31:26","post_date_gmt":"2023-05-17 14:31:26","post_content":"\n
\n
Judge Analisa Torres has declined a motion by the commission to seal essential documents in the legal tussle.  <\/li>\n\n\n\n
The price of the native XRP token has surged following the ruling.<\/li>\n<\/ul>\n\n\n\n
A US judge presiding over the case between Ripple and the Securities and Exchange Commission (SEC) has rejected a motion filed by the regulator to seal some of the essential documents.<\/p>\n\n\n\n
Judge Analisa Torres of the US District Court has disagreed<\/a> with SEC\u2019s move to seal Hinman\u2019s Speech documents, comprising emails, text messages, and expert reports, saying they were \u2018judicial documents\u2019 subject to a strong presumption of public access.<\/p>\n\n\n\n
As a recap, the SEC is suing<\/a> Ripple for selling unregistered securities. At the centre of the legal matter is a controversial speech by the former finance division director at the commission, William Hinman, who stated that Ether, the native cryptocurrency to the Ethereum blockchain, was not a security. The statement is believed to influence the much-awaited summary judgment considerably.<\/p>\n\n\n\n
The SEC\u2019s Position On The Matter<\/h2>\n\n\n\n
On December 22, the SEC filed a motion before Judge Torres to have all the documents containing Hinman\u2019s speech sealed from the public, saying they were irrelevant to the court\u2019s summary judgment. Further, the commission added that having the documents sealed preserved \u2018openness and candour\u2019, which the court has also rejected.<\/p>\n\n\n\n
\u2018\u2018Regardless of whether the court ultimately determines that the Hinman Speech Documents are admissible, or whether the court relies on the documents in ruling on the summary judgment motions, they are judicial documents subject to a strong presumption of public access because they are \u2018relevant to the performance of the judicial function and useful in the judicial process,'\" <\/em>read the ruling.<\/p>\n\n\n\n
XRP has added more than 5% in the past 24 hours following the development and was trading at $0.4487 at the time of writing. <\/p>\n","post_title":"Ripple Scores Major Victory In Case With The SEC As Court Denies Motion Filed By The Regulator","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-scores-major-victory-in-case-with-the-sec-as-court-denies-motion-filed-by-the-regulator","to_ping":"","pinged":"","post_modified":"2023-05-18 00:31:29","post_modified_gmt":"2023-05-17 14:31:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11770","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11728,"post_author":"12","post_date":"2023-05-15 16:06:43","post_date_gmt":"2023-05-15 06:06:43","post_content":"\n
A recent report<\/a> from Financial Times found that Worldcoin, a cryptocurrency project launched by OpenAI CEO Sam Altman, is close to securing $100M in funding. Those already backing the project include; a16z, Digital Currency Group and Coinbase Ventures; the new round of funding includes \u201cexisting and new investors.\u201d<\/em><\/p>\n\n\n\n
The project<\/a> was founded in 2020 by Sam Altman, Alex Blania, and Max Novendstern. With over 1,697,000 sign ups already, Worldcoin aims to build \"the world\u2019s largest identity and financial network as a public utility, giving ownership to everyone, [and] to create universal access to the global economy regardless of country or background, accelerating the transition to an economic future that welcomes and benefits every person on the planet.<\/em><\/p>\n\n\n\n
In March 2022, The Information\u00a0reported<\/a>\u00a0that the firm was looking to raise $100M\u00a0from investors through a private token sale, citing two people familiar with the situation. These sources stated that \u201cit\u2019s a bear market, a crypto winter. It\u2019s remarkable for a project in this space to get this amount of investment.\u201d<\/em><\/p>\n\n\n\n
Worldcoin Verification, Adoption, And Account Abstraction<\/h2>\n\n\n\nWorldcoin launched a gas-free crypto wallet in early May of 2023 called World App. This wallet relies on a system called World ID which uses zero-knowledge proofs to verify that you're a real human with either a phone number or iris scan. The gasless transactions rely upon account abstraction<\/a>, a popular protocol on Ethereum, under ERC-4337<\/a>.<\/p>\n\n\n\n
World App is also integrated with Uniswap, so users can swap currencies in the wallet.<\/p>\n\n\n\n
Worldcoin has been in its beta for some time now; within \"the next six weeks\" the blockchain protocol is expected to launch and with that, transactions will begin being recorded.<\/p>\n","post_title":"OpenAI's Sam Altman To Secure $100M For Worldcoin; Will Start Recording Transactions In 6 Weeks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openais-sam-altman-to-secure-100m-for-worldcoin-will-start-recording-transactions-in-6-weeks","to_ping":"","pinged":"","post_modified":"2023-05-15 16:06:46","post_modified_gmt":"2023-05-15 06:06:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11728","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11677,"post_author":"15","post_date":"2023-05-13 00:36:12","post_date_gmt":"2023-05-12 14:36:12","post_content":"\n
In the last 24 hours, $46.37 million worth of $PEPE has been deposited into exchanges. The meme coin has net deposits from 1,176 addresses amounting to $22.94 million. $PEPE has seen a significant drop of 31% in value, shrinking its market value to around $500 million, as reported <\/a>by ScopeProtocol.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/ScopeProtocol\/status\/1656916635134066688?s=20\n<\/div><\/figure>\n\n\n\n
$PEPE is a meme coin that has gained significant popularity in cryptocurrency. It has captured the attention of crypto enthusiasts and investors due to its unique and humorous nature.<\/p>\n\n\n\n
Despite its playful image, $PEPE has also experienced fluctuations in its market price. This volatility is characteristic of many memecoins, as trends, speculation, and the overall sentiment of the market can influence their prices.<\/p>\n\n\n\n
More On Memecoins<\/h2>\n\n\n\n
On May 11, 2023, @lookonchain<\/a>, a prominent cryptocurrency analyst, tweeted<\/a> about $PEPE and $LADYs (another meme coin). In his tweet, he praised how a cryptocurrency trader made huge profits trading meme coins. The trader bought $PEPE on Apr 18 and $LADYS before Elon Musk tweeted. In summary, his investment gained 36x on $PEPE and 35x on $LADYS. <\/p>\n\n\n\n
The meme coin phenomenon has emerged as a culture in the cryptocurrency space. We can notably refer to prominent meme coins like Dogecoin ($DOGE) and Shiba Inu ($SHIB). At the time of writing, these two cryptocurrencies ranked number 8 and number 15, respectively, according to Coinmarketcap. $DOGE and $SHIB have paved the way for other meme coins to gain traction in the crypto market.<\/p>\n","post_title":"Massive $PEPE Deposits Shake Crypto Exchanges; Market Value Plunges","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"massive-pepe-deposits-shake-crypto-exchanges-market-value-plunges","to_ping":"","pinged":"","post_modified":"2023-05-13 00:36:16","post_modified_gmt":"2023-05-12 14:36:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11677","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11401,"post_author":"13","post_date":"2023-05-02 11:29:00","post_date_gmt":"2023-05-02 01:29:00","post_content":"\n
\n
SUI farming will open for two days on BNB and TUSD pools beginning May 1.<\/li>\n\n\n\n
The token is expected to list afterward on Binance against BTC, USDT, TUSD, and BNB.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Binance has unveiled its 33rd project on Binance Luanchpoool, Sui, that allows users to farm SUI tokens using staked BNB and TrueUSD (TUSD).<\/p>\n\n\n\n
According to the announcement<\/a> on April 30, the farming of SUI tokens would run for 2 days beginning May 1. After that, the asset would be listed on Binance under trading pairs SUI\/BTC, SUI\/USDT, SUITUSD, and SUI\/BNB, subject to the relevant liquidity requirements.<\/p>\n\n\n\n
40 million SUI tokens are set for launchpool token rewards, 0.4% of the total token supply of 10 billion. So far, more than 9 million BNB tokens have been staked on the BNB pool, while the TUSD pool has more than 450 million staked TUSD.<\/p>\n\n\n\n
DPoS Layer-1 Blockchain<\/h2>\n\n\n\n
Sui<\/a> operates as a delegated proof of stake (DPoS) layer-1 blockchain<\/a> written on the Move programming language. The project has since raised $300 million in a series B funding round backed by Binance Labs and Coinbase - bringing its valuation to $2 billion.<\/p>\n\n\n\n
The project, hyped by its community of supporters as the \u2018Ethereum Killer\u2019<\/em>, uses a unique technology involving a parallel data model and execution engine to enhance transaction scaling. Besides, the blockchain employs an object-centric model for processing parallel transactions.<\/p>\n\n\n\n
The unveiling has pumped the price of Binance\u2019s native BNB token upwards despite a bearish market momentum. At press time, the token was changing hands for $333, representing a jump of 3% in the past day.<\/p>\n","post_title":"Binance Launches SUI Farming With Staked BNB And TrueUSD","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-launches-sui-farming-with-staked-bnb-and-trueusd","to_ping":"","pinged":"","post_modified":"2023-05-04 13:03:20","post_modified_gmt":"2023-05-04 03:03:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
Curve initially responded to a Twitter account with a retracted statement, but later clarified their error. Curve confirmed that no wrongdoing occurred for projects integrating Vyper or its users.<\/p>\n\n\n\n
According to Vyper on Twitter, the language's compiler failed, affecting re-entry guards. These guards, included in the projects' code, are designed to protect against re-entry attacks but were ineffective.<\/p>\n\n\n\n
This prevented re-entry guards\u2014protections that were included in the projects\u2019 code and should guard against re-entry attacks\u2014from working, Meir Dolev said to Decrypt. Meir Dolev is the co-founder and CTO of cybersecurity firm Cyvers<\/p>\n","post_title":"DeFi Projects Suffer $24 Million Heist In Curve Pool Exploits","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"defi-projects-suffer-24-million-heist-in-curve-pool-exploits","to_ping":"","pinged":"","post_modified":"2023-08-03 15:25:13","post_modified_gmt":"2023-08-03 05:25:13","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12829","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":12708,"post_author":"21","post_date":"2023-07-25 23:28:55","post_date_gmt":"2023-07-25 13:28:55","post_content":"\n
\n
Worldcoin token, WLD, rose by four-digit percentages after launch and listing on Monday.<\/li>\n\n\n\n
Worldcoin promises biometric proof of identity amid the growing usage of AI.<\/li>\n<\/ul>\n\n\n\n
WLD, the token of the controversial identity-providing crypto project Worldcoin, launched<\/a> on Monday, July 24. Binance announced<\/a> it had listed the token, welcoming users to participate in new trading pairs WLD\/BTC and WLD\/USDT.<\/p>\n\n\n\n
The listing was a significant milestone for WLD as the token generated a frenzy afterwards, rising by four-digit percentages. Binance said that token withdrawal will begin on July 25, 2023, at 17:00 Eastern Eighth District Time. Other exchanges that listed the token were OKX, Huobi, and Bybit.\u00a0<\/p>\n\n\n\n
Worldcoin<\/a> plans to control almost 20% of tokens. The team will use the money for orb production, maintenance, and ecosystem development.<\/p>\n\n\n\n
Worldcoin to provide digital proof of identity<\/h2>\n\n\n\n
Worldcoin has been the centre of attention due to its promise of a biometric proof of identity. Sam Altman, CEO of OpenAI<\/a>, the firm behind ChatGPT, created the crypto project. Altman says World IDs are needed in this era of generative chatbots like ChatGPT.<\/p>\n\n\n\n
Worldcoin uses a device called \"The Orb\" to scan people's irises, generating a personally identifiable Worldcoin ID. The functionality has, however, been criticized for potential security and privacy violations. <\/p>\n\n\n\n
Altman believes Worldcoin would offer a reliable way to distinguish humans from bots while protecting privacy. It will also reduce fraud since only real people can own World IDs.<\/p>\n\n\n\n
Meanwhile, Altman is eyeing a global expansion, with the OpenAI CEO targeting up to 2 billion users. The project has already earned over 2 million users from the beta sign-up period.  <\/p>\n","post_title":"Binance Lists OpenAI-Affiliated Worldcoin Amid High Market Speculation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-lists-openai-affiliated-worldcoin-amid-high-market-speculation","to_ping":"","pinged":"","post_modified":"2023-07-25 23:29:00","post_modified_gmt":"2023-07-25 13:29:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12708","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":12524,"post_author":"1","post_date":"2023-07-15 23:36:16","post_date_gmt":"2023-07-15 13:36:16","post_content":"\n
\n
Ripple scored a landmark victory over the regulator on Thursday.<\/li>\n\n\n\n
The prolonged legal battle is expected to shape the regulations for digital assets.<\/li>\n<\/ul>\n\n\n\n
JP Morgan viewed the court ruling for Ripple as a significant victory. However, according to the investment banking giant, the regulations by enforcement are far from over. <\/p>\n\n\n\n
On Thursday, the US Southern District Court ruled partially in favor of Ripple, the FinTech company that issues XRP. The SEC and Ripple's 2-year legal battle concluded with the ruling that cryptocurrency issuance on exchanges is not an investment contract.<\/p>\n\n\n\n
\"This ruling is undoubtedly a milestone win for the industry. It provides legal clarity and defense around what does and does not constitute a security, and that overall outcome is in favor of what many in the industry had been arguing,\"<\/em> JP Morgan wrote<\/a> in the note seen by Coindesk.<\/p>\n\n\n\n
Following the landmark ruling, the price of cryptocurrencies soared as sentiment changed in the digital asset space. The cost of XRP rose by about 70%, while Bitcoin reached its highest level in more than a year.<\/p>\n\n\n\n
SEC's Next Step<\/h2>\n\n\n\n
However, according to JPMorgan, the ruling may not be the end of what has come to be termed as regulations by enforcement by the SEC, as the regulator could appeal the case or bring similar charges against other cryptocurrency companies.<\/p>\n\n\n\n
In June, Binance, the leading crypto exchange, faced 13 charges from the SEC, one being the sale of unauthorized securities. The regulator sued Coinbase, the largest US cryptocurrency exchange, for security law violations. <\/p>\n\n\n\n
At the start of the year, the SEC brought charges<\/a> against Gemini and Genesis for allegedly violating the securities regulations related to crypto lending. In February, it\u00a0 fined crypto exchange Kraken<\/a>\u00a0$30 million and ordered the platform to cease offering staking services to US users.<\/p>\n","post_title":"Ripple-SEC Ruling \u2018A Win\u2019 For Crypto Industry But Regulatory War Not Over, JP Morgan Says","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-sec-ruling-a-win-for-crypto-industry-but-regulatory-war-not-over-jp-morgan-says","to_ping":"","pinged":"","post_modified":"2023-07-15 23:36:25","post_modified_gmt":"2023-07-15 13:36:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11929,"post_author":"15","post_date":"2023-06-08 22:45:46","post_date_gmt":"2023-06-08 12:45:46","post_content":"\n
Arbitrum, a layer 2 blockchain, halts the process of transactions due to funding issues. With over $2.24 billion in deposits, the network experiences an hour-long standstill due to gas shortage. <\/p>\n\n\n\n
Developers on the Arbitrum Discord server<\/a> faced connectivity issues with the network's sequencer. The software is responsible for bundling and confirming transactions on the Ethereum network.<\/p>\n\n\n\n
According to on-chain records<\/a>, the sequencer exhausted its supply of Ether, the native cryptocurrency of Ethereum used for transaction fees<\/a>. Without sufficient Ether to cover the fees, the sequencer could not process transactions on Ethereum, resulting in Arbitrum coming to a halt.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
What's Next to Arbitrum?<\/h2>\n\n\n\n
Following an hour-long period of transaction processing failure, Arbitrum has resumed its operations. A wallet that had previously transferred funds to the Arbitrum multi-signature wallet sent 1.4 Ether to the sequence. This replenishment enabled the sequencer to resume sending transactions to Ethereum.<\/p>\n\n\n\n
The cause behind the depletion of gas in Arbitrum's sequencer remains uncertain. Since its launch in May 2021, the sequencer has only been manually refuelled with Ether on four occasions.<\/p>\n\n\n\n
The recent event highlights the reliance of Arbitrum on a centralized control point. Offchain Labs, the company behind Arbitrum, has expressed its plans to decentralize the network's sequencer. <\/p>\n","post_title":"Arbitrum Faces Temporary Shutdown Due To Gas Shortage","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"arbitrum-faces-temporary-shutdown-due-to-gas-shortage","to_ping":"","pinged":"","post_modified":"2023-06-08 22:45:55","post_modified_gmt":"2023-06-08 12:45:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11929","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11770,"post_author":"13","post_date":"2023-05-18 00:31:26","post_date_gmt":"2023-05-17 14:31:26","post_content":"\n
\n
Judge Analisa Torres has declined a motion by the commission to seal essential documents in the legal tussle.  <\/li>\n\n\n\n
The price of the native XRP token has surged following the ruling.<\/li>\n<\/ul>\n\n\n\n
A US judge presiding over the case between Ripple and the Securities and Exchange Commission (SEC) has rejected a motion filed by the regulator to seal some of the essential documents.<\/p>\n\n\n\n
Judge Analisa Torres of the US District Court has disagreed<\/a> with SEC\u2019s move to seal Hinman\u2019s Speech documents, comprising emails, text messages, and expert reports, saying they were \u2018judicial documents\u2019 subject to a strong presumption of public access.<\/p>\n\n\n\n
As a recap, the SEC is suing<\/a> Ripple for selling unregistered securities. At the centre of the legal matter is a controversial speech by the former finance division director at the commission, William Hinman, who stated that Ether, the native cryptocurrency to the Ethereum blockchain, was not a security. The statement is believed to influence the much-awaited summary judgment considerably.<\/p>\n\n\n\n
The SEC\u2019s Position On The Matter<\/h2>\n\n\n\n
On December 22, the SEC filed a motion before Judge Torres to have all the documents containing Hinman\u2019s speech sealed from the public, saying they were irrelevant to the court\u2019s summary judgment. Further, the commission added that having the documents sealed preserved \u2018openness and candour\u2019, which the court has also rejected.<\/p>\n\n\n\n
\u2018\u2018Regardless of whether the court ultimately determines that the Hinman Speech Documents are admissible, or whether the court relies on the documents in ruling on the summary judgment motions, they are judicial documents subject to a strong presumption of public access because they are \u2018relevant to the performance of the judicial function and useful in the judicial process,'\" <\/em>read the ruling.<\/p>\n\n\n\n
XRP has added more than 5% in the past 24 hours following the development and was trading at $0.4487 at the time of writing. <\/p>\n","post_title":"Ripple Scores Major Victory In Case With The SEC As Court Denies Motion Filed By The Regulator","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-scores-major-victory-in-case-with-the-sec-as-court-denies-motion-filed-by-the-regulator","to_ping":"","pinged":"","post_modified":"2023-05-18 00:31:29","post_modified_gmt":"2023-05-17 14:31:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11770","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11728,"post_author":"12","post_date":"2023-05-15 16:06:43","post_date_gmt":"2023-05-15 06:06:43","post_content":"\n
A recent report<\/a> from Financial Times found that Worldcoin, a cryptocurrency project launched by OpenAI CEO Sam Altman, is close to securing $100M in funding. Those already backing the project include; a16z, Digital Currency Group and Coinbase Ventures; the new round of funding includes \u201cexisting and new investors.\u201d<\/em><\/p>\n\n\n\n
The project<\/a> was founded in 2020 by Sam Altman, Alex Blania, and Max Novendstern. With over 1,697,000 sign ups already, Worldcoin aims to build \"the world\u2019s largest identity and financial network as a public utility, giving ownership to everyone, [and] to create universal access to the global economy regardless of country or background, accelerating the transition to an economic future that welcomes and benefits every person on the planet.<\/em><\/p>\n\n\n\n
In March 2022, The Information\u00a0reported<\/a>\u00a0that the firm was looking to raise $100M\u00a0from investors through a private token sale, citing two people familiar with the situation. These sources stated that \u201cit\u2019s a bear market, a crypto winter. It\u2019s remarkable for a project in this space to get this amount of investment.\u201d<\/em><\/p>\n\n\n\n
Worldcoin Verification, Adoption, And Account Abstraction<\/h2>\n\n\n\nWorldcoin launched a gas-free crypto wallet in early May of 2023 called World App. This wallet relies on a system called World ID which uses zero-knowledge proofs to verify that you're a real human with either a phone number or iris scan. The gasless transactions rely upon account abstraction<\/a>, a popular protocol on Ethereum, under ERC-4337<\/a>.<\/p>\n\n\n\n
World App is also integrated with Uniswap, so users can swap currencies in the wallet.<\/p>\n\n\n\n
Worldcoin has been in its beta for some time now; within \"the next six weeks\" the blockchain protocol is expected to launch and with that, transactions will begin being recorded.<\/p>\n","post_title":"OpenAI's Sam Altman To Secure $100M For Worldcoin; Will Start Recording Transactions In 6 Weeks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openais-sam-altman-to-secure-100m-for-worldcoin-will-start-recording-transactions-in-6-weeks","to_ping":"","pinged":"","post_modified":"2023-05-15 16:06:46","post_modified_gmt":"2023-05-15 06:06:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11728","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11677,"post_author":"15","post_date":"2023-05-13 00:36:12","post_date_gmt":"2023-05-12 14:36:12","post_content":"\n
In the last 24 hours, $46.37 million worth of $PEPE has been deposited into exchanges. The meme coin has net deposits from 1,176 addresses amounting to $22.94 million. $PEPE has seen a significant drop of 31% in value, shrinking its market value to around $500 million, as reported <\/a>by ScopeProtocol.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/ScopeProtocol\/status\/1656916635134066688?s=20\n<\/div><\/figure>\n\n\n\n
$PEPE is a meme coin that has gained significant popularity in cryptocurrency. It has captured the attention of crypto enthusiasts and investors due to its unique and humorous nature.<\/p>\n\n\n\n
Despite its playful image, $PEPE has also experienced fluctuations in its market price. This volatility is characteristic of many memecoins, as trends, speculation, and the overall sentiment of the market can influence their prices.<\/p>\n\n\n\n
More On Memecoins<\/h2>\n\n\n\n
On May 11, 2023, @lookonchain<\/a>, a prominent cryptocurrency analyst, tweeted<\/a> about $PEPE and $LADYs (another meme coin). In his tweet, he praised how a cryptocurrency trader made huge profits trading meme coins. The trader bought $PEPE on Apr 18 and $LADYS before Elon Musk tweeted. In summary, his investment gained 36x on $PEPE and 35x on $LADYS. <\/p>\n\n\n\n
The meme coin phenomenon has emerged as a culture in the cryptocurrency space. We can notably refer to prominent meme coins like Dogecoin ($DOGE) and Shiba Inu ($SHIB). At the time of writing, these two cryptocurrencies ranked number 8 and number 15, respectively, according to Coinmarketcap. $DOGE and $SHIB have paved the way for other meme coins to gain traction in the crypto market.<\/p>\n","post_title":"Massive $PEPE Deposits Shake Crypto Exchanges; Market Value Plunges","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"massive-pepe-deposits-shake-crypto-exchanges-market-value-plunges","to_ping":"","pinged":"","post_modified":"2023-05-13 00:36:16","post_modified_gmt":"2023-05-12 14:36:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11677","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11401,"post_author":"13","post_date":"2023-05-02 11:29:00","post_date_gmt":"2023-05-02 01:29:00","post_content":"\n
\n
SUI farming will open for two days on BNB and TUSD pools beginning May 1.<\/li>\n\n\n\n
The token is expected to list afterward on Binance against BTC, USDT, TUSD, and BNB.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Binance has unveiled its 33rd project on Binance Luanchpoool, Sui, that allows users to farm SUI tokens using staked BNB and TrueUSD (TUSD).<\/p>\n\n\n\n
According to the announcement<\/a> on April 30, the farming of SUI tokens would run for 2 days beginning May 1. After that, the asset would be listed on Binance under trading pairs SUI\/BTC, SUI\/USDT, SUITUSD, and SUI\/BNB, subject to the relevant liquidity requirements.<\/p>\n\n\n\n
40 million SUI tokens are set for launchpool token rewards, 0.4% of the total token supply of 10 billion. So far, more than 9 million BNB tokens have been staked on the BNB pool, while the TUSD pool has more than 450 million staked TUSD.<\/p>\n\n\n\n
DPoS Layer-1 Blockchain<\/h2>\n\n\n\n
Sui<\/a> operates as a delegated proof of stake (DPoS) layer-1 blockchain<\/a> written on the Move programming language. The project has since raised $300 million in a series B funding round backed by Binance Labs and Coinbase - bringing its valuation to $2 billion.<\/p>\n\n\n\n
The project, hyped by its community of supporters as the \u2018Ethereum Killer\u2019<\/em>, uses a unique technology involving a parallel data model and execution engine to enhance transaction scaling. Besides, the blockchain employs an object-centric model for processing parallel transactions.<\/p>\n\n\n\n
The unveiling has pumped the price of Binance\u2019s native BNB token upwards despite a bearish market momentum. At press time, the token was changing hands for $333, representing a jump of 3% in the past day.<\/p>\n","post_title":"Binance Launches SUI Farming With Staked BNB And TrueUSD","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-launches-sui-farming-with-staked-bnb-and-trueusd","to_ping":"","pinged":"","post_modified":"2023-05-04 13:03:20","post_modified_gmt":"2023-05-04 03:03:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 … 10 Next

Most Read

Altcoins

Ripple Challenges SEC’s Bid For Appeal In Legal Battle

September 3, 2023

Artificial Intelligence

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November 24, 2024

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Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

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Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

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\n
Re-entrancy vulnerabilities enable attackers to execute multiple calls in a single function, leading smart contracts to calculate incorrect balances. The $55 million 2016 DAO hack on Ethereum is a notable example.<\/p>\n\n\n\n
Curve initially responded to a Twitter account with a retracted statement, but later clarified their error. Curve confirmed that no wrongdoing occurred for projects integrating Vyper or its users.<\/p>\n\n\n\n
According to Vyper on Twitter, the language's compiler failed, affecting re-entry guards. These guards, included in the projects' code, are designed to protect against re-entry attacks but were ineffective.<\/p>\n\n\n\n
This prevented re-entry guards\u2014protections that were included in the projects\u2019 code and should guard against re-entry attacks\u2014from working, Meir Dolev said to Decrypt. Meir Dolev is the co-founder and CTO of cybersecurity firm Cyvers<\/p>\n","post_title":"DeFi Projects Suffer $24 Million Heist In Curve Pool Exploits","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"defi-projects-suffer-24-million-heist-in-curve-pool-exploits","to_ping":"","pinged":"","post_modified":"2023-08-03 15:25:13","post_modified_gmt":"2023-08-03 05:25:13","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12829","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":12708,"post_author":"21","post_date":"2023-07-25 23:28:55","post_date_gmt":"2023-07-25 13:28:55","post_content":"\n
\n
Worldcoin token, WLD, rose by four-digit percentages after launch and listing on Monday.<\/li>\n\n\n\n
Worldcoin promises biometric proof of identity amid the growing usage of AI.<\/li>\n<\/ul>\n\n\n\n
WLD, the token of the controversial identity-providing crypto project Worldcoin, launched<\/a> on Monday, July 24. Binance announced<\/a> it had listed the token, welcoming users to participate in new trading pairs WLD\/BTC and WLD\/USDT.<\/p>\n\n\n\n
The listing was a significant milestone for WLD as the token generated a frenzy afterwards, rising by four-digit percentages. Binance said that token withdrawal will begin on July 25, 2023, at 17:00 Eastern Eighth District Time. Other exchanges that listed the token were OKX, Huobi, and Bybit.\u00a0<\/p>\n\n\n\n
Worldcoin<\/a> plans to control almost 20% of tokens. The team will use the money for orb production, maintenance, and ecosystem development.<\/p>\n\n\n\n
Worldcoin to provide digital proof of identity<\/h2>\n\n\n\n
Worldcoin has been the centre of attention due to its promise of a biometric proof of identity. Sam Altman, CEO of OpenAI<\/a>, the firm behind ChatGPT, created the crypto project. Altman says World IDs are needed in this era of generative chatbots like ChatGPT.<\/p>\n\n\n\n
Worldcoin uses a device called \"The Orb\" to scan people's irises, generating a personally identifiable Worldcoin ID. The functionality has, however, been criticized for potential security and privacy violations. <\/p>\n\n\n\n
Altman believes Worldcoin would offer a reliable way to distinguish humans from bots while protecting privacy. It will also reduce fraud since only real people can own World IDs.<\/p>\n\n\n\n
Meanwhile, Altman is eyeing a global expansion, with the OpenAI CEO targeting up to 2 billion users. The project has already earned over 2 million users from the beta sign-up period.  <\/p>\n","post_title":"Binance Lists OpenAI-Affiliated Worldcoin Amid High Market Speculation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-lists-openai-affiliated-worldcoin-amid-high-market-speculation","to_ping":"","pinged":"","post_modified":"2023-07-25 23:29:00","post_modified_gmt":"2023-07-25 13:29:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12708","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":12524,"post_author":"1","post_date":"2023-07-15 23:36:16","post_date_gmt":"2023-07-15 13:36:16","post_content":"\n
\n
Ripple scored a landmark victory over the regulator on Thursday.<\/li>\n\n\n\n
The prolonged legal battle is expected to shape the regulations for digital assets.<\/li>\n<\/ul>\n\n\n\n
JP Morgan viewed the court ruling for Ripple as a significant victory. However, according to the investment banking giant, the regulations by enforcement are far from over. <\/p>\n\n\n\n
On Thursday, the US Southern District Court ruled partially in favor of Ripple, the FinTech company that issues XRP. The SEC and Ripple's 2-year legal battle concluded with the ruling that cryptocurrency issuance on exchanges is not an investment contract.<\/p>\n\n\n\n
\"This ruling is undoubtedly a milestone win for the industry. It provides legal clarity and defense around what does and does not constitute a security, and that overall outcome is in favor of what many in the industry had been arguing,\"<\/em> JP Morgan wrote<\/a> in the note seen by Coindesk.<\/p>\n\n\n\n
Following the landmark ruling, the price of cryptocurrencies soared as sentiment changed in the digital asset space. The cost of XRP rose by about 70%, while Bitcoin reached its highest level in more than a year.<\/p>\n\n\n\n
SEC's Next Step<\/h2>\n\n\n\n
However, according to JPMorgan, the ruling may not be the end of what has come to be termed as regulations by enforcement by the SEC, as the regulator could appeal the case or bring similar charges against other cryptocurrency companies.<\/p>\n\n\n\n
In June, Binance, the leading crypto exchange, faced 13 charges from the SEC, one being the sale of unauthorized securities. The regulator sued Coinbase, the largest US cryptocurrency exchange, for security law violations. <\/p>\n\n\n\n
At the start of the year, the SEC brought charges<\/a> against Gemini and Genesis for allegedly violating the securities regulations related to crypto lending. In February, it\u00a0 fined crypto exchange Kraken<\/a>\u00a0$30 million and ordered the platform to cease offering staking services to US users.<\/p>\n","post_title":"Ripple-SEC Ruling \u2018A Win\u2019 For Crypto Industry But Regulatory War Not Over, JP Morgan Says","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-sec-ruling-a-win-for-crypto-industry-but-regulatory-war-not-over-jp-morgan-says","to_ping":"","pinged":"","post_modified":"2023-07-15 23:36:25","post_modified_gmt":"2023-07-15 13:36:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11929,"post_author":"15","post_date":"2023-06-08 22:45:46","post_date_gmt":"2023-06-08 12:45:46","post_content":"\n
Arbitrum, a layer 2 blockchain, halts the process of transactions due to funding issues. With over $2.24 billion in deposits, the network experiences an hour-long standstill due to gas shortage. <\/p>\n\n\n\n
Developers on the Arbitrum Discord server<\/a> faced connectivity issues with the network's sequencer. The software is responsible for bundling and confirming transactions on the Ethereum network.<\/p>\n\n\n\n
According to on-chain records<\/a>, the sequencer exhausted its supply of Ether, the native cryptocurrency of Ethereum used for transaction fees<\/a>. Without sufficient Ether to cover the fees, the sequencer could not process transactions on Ethereum, resulting in Arbitrum coming to a halt.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
What's Next to Arbitrum?<\/h2>\n\n\n\n
Following an hour-long period of transaction processing failure, Arbitrum has resumed its operations. A wallet that had previously transferred funds to the Arbitrum multi-signature wallet sent 1.4 Ether to the sequence. This replenishment enabled the sequencer to resume sending transactions to Ethereum.<\/p>\n\n\n\n
The cause behind the depletion of gas in Arbitrum's sequencer remains uncertain. Since its launch in May 2021, the sequencer has only been manually refuelled with Ether on four occasions.<\/p>\n\n\n\n
The recent event highlights the reliance of Arbitrum on a centralized control point. Offchain Labs, the company behind Arbitrum, has expressed its plans to decentralize the network's sequencer. <\/p>\n","post_title":"Arbitrum Faces Temporary Shutdown Due To Gas Shortage","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"arbitrum-faces-temporary-shutdown-due-to-gas-shortage","to_ping":"","pinged":"","post_modified":"2023-06-08 22:45:55","post_modified_gmt":"2023-06-08 12:45:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11929","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11770,"post_author":"13","post_date":"2023-05-18 00:31:26","post_date_gmt":"2023-05-17 14:31:26","post_content":"\n
\n
Judge Analisa Torres has declined a motion by the commission to seal essential documents in the legal tussle.  <\/li>\n\n\n\n
The price of the native XRP token has surged following the ruling.<\/li>\n<\/ul>\n\n\n\n
A US judge presiding over the case between Ripple and the Securities and Exchange Commission (SEC) has rejected a motion filed by the regulator to seal some of the essential documents.<\/p>\n\n\n\n
Judge Analisa Torres of the US District Court has disagreed<\/a> with SEC\u2019s move to seal Hinman\u2019s Speech documents, comprising emails, text messages, and expert reports, saying they were \u2018judicial documents\u2019 subject to a strong presumption of public access.<\/p>\n\n\n\n
As a recap, the SEC is suing<\/a> Ripple for selling unregistered securities. At the centre of the legal matter is a controversial speech by the former finance division director at the commission, William Hinman, who stated that Ether, the native cryptocurrency to the Ethereum blockchain, was not a security. The statement is believed to influence the much-awaited summary judgment considerably.<\/p>\n\n\n\n
The SEC\u2019s Position On The Matter<\/h2>\n\n\n\n
On December 22, the SEC filed a motion before Judge Torres to have all the documents containing Hinman\u2019s speech sealed from the public, saying they were irrelevant to the court\u2019s summary judgment. Further, the commission added that having the documents sealed preserved \u2018openness and candour\u2019, which the court has also rejected.<\/p>\n\n\n\n
\u2018\u2018Regardless of whether the court ultimately determines that the Hinman Speech Documents are admissible, or whether the court relies on the documents in ruling on the summary judgment motions, they are judicial documents subject to a strong presumption of public access because they are \u2018relevant to the performance of the judicial function and useful in the judicial process,'\" <\/em>read the ruling.<\/p>\n\n\n\n
XRP has added more than 5% in the past 24 hours following the development and was trading at $0.4487 at the time of writing. <\/p>\n","post_title":"Ripple Scores Major Victory In Case With The SEC As Court Denies Motion Filed By The Regulator","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-scores-major-victory-in-case-with-the-sec-as-court-denies-motion-filed-by-the-regulator","to_ping":"","pinged":"","post_modified":"2023-05-18 00:31:29","post_modified_gmt":"2023-05-17 14:31:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11770","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11728,"post_author":"12","post_date":"2023-05-15 16:06:43","post_date_gmt":"2023-05-15 06:06:43","post_content":"\n
A recent report<\/a> from Financial Times found that Worldcoin, a cryptocurrency project launched by OpenAI CEO Sam Altman, is close to securing $100M in funding. Those already backing the project include; a16z, Digital Currency Group and Coinbase Ventures; the new round of funding includes \u201cexisting and new investors.\u201d<\/em><\/p>\n\n\n\n
The project<\/a> was founded in 2020 by Sam Altman, Alex Blania, and Max Novendstern. With over 1,697,000 sign ups already, Worldcoin aims to build \"the world\u2019s largest identity and financial network as a public utility, giving ownership to everyone, [and] to create universal access to the global economy regardless of country or background, accelerating the transition to an economic future that welcomes and benefits every person on the planet.<\/em><\/p>\n\n\n\n
In March 2022, The Information\u00a0reported<\/a>\u00a0that the firm was looking to raise $100M\u00a0from investors through a private token sale, citing two people familiar with the situation. These sources stated that \u201cit\u2019s a bear market, a crypto winter. It\u2019s remarkable for a project in this space to get this amount of investment.\u201d<\/em><\/p>\n\n\n\n
Worldcoin Verification, Adoption, And Account Abstraction<\/h2>\n\n\n\nWorldcoin launched a gas-free crypto wallet in early May of 2023 called World App. This wallet relies on a system called World ID which uses zero-knowledge proofs to verify that you're a real human with either a phone number or iris scan. The gasless transactions rely upon account abstraction<\/a>, a popular protocol on Ethereum, under ERC-4337<\/a>.<\/p>\n\n\n\n
World App is also integrated with Uniswap, so users can swap currencies in the wallet.<\/p>\n\n\n\n
Worldcoin has been in its beta for some time now; within \"the next six weeks\" the blockchain protocol is expected to launch and with that, transactions will begin being recorded.<\/p>\n","post_title":"OpenAI's Sam Altman To Secure $100M For Worldcoin; Will Start Recording Transactions In 6 Weeks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openais-sam-altman-to-secure-100m-for-worldcoin-will-start-recording-transactions-in-6-weeks","to_ping":"","pinged":"","post_modified":"2023-05-15 16:06:46","post_modified_gmt":"2023-05-15 06:06:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11728","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11677,"post_author":"15","post_date":"2023-05-13 00:36:12","post_date_gmt":"2023-05-12 14:36:12","post_content":"\n
In the last 24 hours, $46.37 million worth of $PEPE has been deposited into exchanges. The meme coin has net deposits from 1,176 addresses amounting to $22.94 million. $PEPE has seen a significant drop of 31% in value, shrinking its market value to around $500 million, as reported <\/a>by ScopeProtocol.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/ScopeProtocol\/status\/1656916635134066688?s=20\n<\/div><\/figure>\n\n\n\n
$PEPE is a meme coin that has gained significant popularity in cryptocurrency. It has captured the attention of crypto enthusiasts and investors due to its unique and humorous nature.<\/p>\n\n\n\n
Despite its playful image, $PEPE has also experienced fluctuations in its market price. This volatility is characteristic of many memecoins, as trends, speculation, and the overall sentiment of the market can influence their prices.<\/p>\n\n\n\n
More On Memecoins<\/h2>\n\n\n\n
On May 11, 2023, @lookonchain<\/a>, a prominent cryptocurrency analyst, tweeted<\/a> about $PEPE and $LADYs (another meme coin). In his tweet, he praised how a cryptocurrency trader made huge profits trading meme coins. The trader bought $PEPE on Apr 18 and $LADYS before Elon Musk tweeted. In summary, his investment gained 36x on $PEPE and 35x on $LADYS. <\/p>\n\n\n\n
The meme coin phenomenon has emerged as a culture in the cryptocurrency space. We can notably refer to prominent meme coins like Dogecoin ($DOGE) and Shiba Inu ($SHIB). At the time of writing, these two cryptocurrencies ranked number 8 and number 15, respectively, according to Coinmarketcap. $DOGE and $SHIB have paved the way for other meme coins to gain traction in the crypto market.<\/p>\n","post_title":"Massive $PEPE Deposits Shake Crypto Exchanges; Market Value Plunges","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"massive-pepe-deposits-shake-crypto-exchanges-market-value-plunges","to_ping":"","pinged":"","post_modified":"2023-05-13 00:36:16","post_modified_gmt":"2023-05-12 14:36:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11677","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11401,"post_author":"13","post_date":"2023-05-02 11:29:00","post_date_gmt":"2023-05-02 01:29:00","post_content":"\n
\n
SUI farming will open for two days on BNB and TUSD pools beginning May 1.<\/li>\n\n\n\n
The token is expected to list afterward on Binance against BTC, USDT, TUSD, and BNB.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Binance has unveiled its 33rd project on Binance Luanchpoool, Sui, that allows users to farm SUI tokens using staked BNB and TrueUSD (TUSD).<\/p>\n\n\n\n
According to the announcement<\/a> on April 30, the farming of SUI tokens would run for 2 days beginning May 1. After that, the asset would be listed on Binance under trading pairs SUI\/BTC, SUI\/USDT, SUITUSD, and SUI\/BNB, subject to the relevant liquidity requirements.<\/p>\n\n\n\n
40 million SUI tokens are set for launchpool token rewards, 0.4% of the total token supply of 10 billion. So far, more than 9 million BNB tokens have been staked on the BNB pool, while the TUSD pool has more than 450 million staked TUSD.<\/p>\n\n\n\n
DPoS Layer-1 Blockchain<\/h2>\n\n\n\n
Sui<\/a> operates as a delegated proof of stake (DPoS) layer-1 blockchain<\/a> written on the Move programming language. The project has since raised $300 million in a series B funding round backed by Binance Labs and Coinbase - bringing its valuation to $2 billion.<\/p>\n\n\n\n
The project, hyped by its community of supporters as the \u2018Ethereum Killer\u2019<\/em>, uses a unique technology involving a parallel data model and execution engine to enhance transaction scaling. Besides, the blockchain employs an object-centric model for processing parallel transactions.<\/p>\n\n\n\n
The unveiling has pumped the price of Binance\u2019s native BNB token upwards despite a bearish market momentum. At press time, the token was changing hands for $333, representing a jump of 3% in the past day.<\/p>\n","post_title":"Binance Launches SUI Farming With Staked BNB And TrueUSD","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-launches-sui-farming-with-staked-bnb-and-trueusd","to_ping":"","pinged":"","post_modified":"2023-05-04 13:03:20","post_modified_gmt":"2023-05-04 03:03:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
Curve initially referred to the vulnerability as a typical \"re-entrance\" attack in a Tweet that has since been deleted. Re-entrancy attacks occur when a smart contract interacts with another, leading to incomplete execution.<\/p>\n\n\n\n
Re-entrancy vulnerabilities enable attackers to execute multiple calls in a single function, leading smart contracts to calculate incorrect balances. The $55 million 2016 DAO hack on Ethereum is a notable example.<\/p>\n\n\n\n
Curve initially responded to a Twitter account with a retracted statement, but later clarified their error. Curve confirmed that no wrongdoing occurred for projects integrating Vyper or its users.<\/p>\n\n\n\n
According to Vyper on Twitter, the language's compiler failed, affecting re-entry guards. These guards, included in the projects' code, are designed to protect against re-entry attacks but were ineffective.<\/p>\n\n\n\n
This prevented re-entry guards\u2014protections that were included in the projects\u2019 code and should guard against re-entry attacks\u2014from working, Meir Dolev said to Decrypt. Meir Dolev is the co-founder and CTO of cybersecurity firm Cyvers<\/p>\n","post_title":"DeFi Projects Suffer $24 Million Heist In Curve Pool Exploits","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"defi-projects-suffer-24-million-heist-in-curve-pool-exploits","to_ping":"","pinged":"","post_modified":"2023-08-03 15:25:13","post_modified_gmt":"2023-08-03 05:25:13","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12829","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":12708,"post_author":"21","post_date":"2023-07-25 23:28:55","post_date_gmt":"2023-07-25 13:28:55","post_content":"\n
\n
Worldcoin token, WLD, rose by four-digit percentages after launch and listing on Monday.<\/li>\n\n\n\n
Worldcoin promises biometric proof of identity amid the growing usage of AI.<\/li>\n<\/ul>\n\n\n\n
WLD, the token of the controversial identity-providing crypto project Worldcoin, launched<\/a> on Monday, July 24. Binance announced<\/a> it had listed the token, welcoming users to participate in new trading pairs WLD\/BTC and WLD\/USDT.<\/p>\n\n\n\n
The listing was a significant milestone for WLD as the token generated a frenzy afterwards, rising by four-digit percentages. Binance said that token withdrawal will begin on July 25, 2023, at 17:00 Eastern Eighth District Time. Other exchanges that listed the token were OKX, Huobi, and Bybit.\u00a0<\/p>\n\n\n\n
Worldcoin<\/a> plans to control almost 20% of tokens. The team will use the money for orb production, maintenance, and ecosystem development.<\/p>\n\n\n\n
Worldcoin to provide digital proof of identity<\/h2>\n\n\n\n
Worldcoin has been the centre of attention due to its promise of a biometric proof of identity. Sam Altman, CEO of OpenAI<\/a>, the firm behind ChatGPT, created the crypto project. Altman says World IDs are needed in this era of generative chatbots like ChatGPT.<\/p>\n\n\n\n
Worldcoin uses a device called \"The Orb\" to scan people's irises, generating a personally identifiable Worldcoin ID. The functionality has, however, been criticized for potential security and privacy violations. <\/p>\n\n\n\n
Altman believes Worldcoin would offer a reliable way to distinguish humans from bots while protecting privacy. It will also reduce fraud since only real people can own World IDs.<\/p>\n\n\n\n
Meanwhile, Altman is eyeing a global expansion, with the OpenAI CEO targeting up to 2 billion users. The project has already earned over 2 million users from the beta sign-up period.  <\/p>\n","post_title":"Binance Lists OpenAI-Affiliated Worldcoin Amid High Market Speculation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-lists-openai-affiliated-worldcoin-amid-high-market-speculation","to_ping":"","pinged":"","post_modified":"2023-07-25 23:29:00","post_modified_gmt":"2023-07-25 13:29:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12708","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":12524,"post_author":"1","post_date":"2023-07-15 23:36:16","post_date_gmt":"2023-07-15 13:36:16","post_content":"\n
\n
Ripple scored a landmark victory over the regulator on Thursday.<\/li>\n\n\n\n
The prolonged legal battle is expected to shape the regulations for digital assets.<\/li>\n<\/ul>\n\n\n\n
JP Morgan viewed the court ruling for Ripple as a significant victory. However, according to the investment banking giant, the regulations by enforcement are far from over. <\/p>\n\n\n\n
On Thursday, the US Southern District Court ruled partially in favor of Ripple, the FinTech company that issues XRP. The SEC and Ripple's 2-year legal battle concluded with the ruling that cryptocurrency issuance on exchanges is not an investment contract.<\/p>\n\n\n\n
\"This ruling is undoubtedly a milestone win for the industry. It provides legal clarity and defense around what does and does not constitute a security, and that overall outcome is in favor of what many in the industry had been arguing,\"<\/em> JP Morgan wrote<\/a> in the note seen by Coindesk.<\/p>\n\n\n\n
Following the landmark ruling, the price of cryptocurrencies soared as sentiment changed in the digital asset space. The cost of XRP rose by about 70%, while Bitcoin reached its highest level in more than a year.<\/p>\n\n\n\n
SEC's Next Step<\/h2>\n\n\n\n
However, according to JPMorgan, the ruling may not be the end of what has come to be termed as regulations by enforcement by the SEC, as the regulator could appeal the case or bring similar charges against other cryptocurrency companies.<\/p>\n\n\n\n
In June, Binance, the leading crypto exchange, faced 13 charges from the SEC, one being the sale of unauthorized securities. The regulator sued Coinbase, the largest US cryptocurrency exchange, for security law violations. <\/p>\n\n\n\n
At the start of the year, the SEC brought charges<\/a> against Gemini and Genesis for allegedly violating the securities regulations related to crypto lending. In February, it\u00a0 fined crypto exchange Kraken<\/a>\u00a0$30 million and ordered the platform to cease offering staking services to US users.<\/p>\n","post_title":"Ripple-SEC Ruling \u2018A Win\u2019 For Crypto Industry But Regulatory War Not Over, JP Morgan Says","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-sec-ruling-a-win-for-crypto-industry-but-regulatory-war-not-over-jp-morgan-says","to_ping":"","pinged":"","post_modified":"2023-07-15 23:36:25","post_modified_gmt":"2023-07-15 13:36:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11929,"post_author":"15","post_date":"2023-06-08 22:45:46","post_date_gmt":"2023-06-08 12:45:46","post_content":"\n
Arbitrum, a layer 2 blockchain, halts the process of transactions due to funding issues. With over $2.24 billion in deposits, the network experiences an hour-long standstill due to gas shortage. <\/p>\n\n\n\n
Developers on the Arbitrum Discord server<\/a> faced connectivity issues with the network's sequencer. The software is responsible for bundling and confirming transactions on the Ethereum network.<\/p>\n\n\n\n
According to on-chain records<\/a>, the sequencer exhausted its supply of Ether, the native cryptocurrency of Ethereum used for transaction fees<\/a>. Without sufficient Ether to cover the fees, the sequencer could not process transactions on Ethereum, resulting in Arbitrum coming to a halt.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
What's Next to Arbitrum?<\/h2>\n\n\n\n
Following an hour-long period of transaction processing failure, Arbitrum has resumed its operations. A wallet that had previously transferred funds to the Arbitrum multi-signature wallet sent 1.4 Ether to the sequence. This replenishment enabled the sequencer to resume sending transactions to Ethereum.<\/p>\n\n\n\n
The cause behind the depletion of gas in Arbitrum's sequencer remains uncertain. Since its launch in May 2021, the sequencer has only been manually refuelled with Ether on four occasions.<\/p>\n\n\n\n
The recent event highlights the reliance of Arbitrum on a centralized control point. Offchain Labs, the company behind Arbitrum, has expressed its plans to decentralize the network's sequencer. <\/p>\n","post_title":"Arbitrum Faces Temporary Shutdown Due To Gas Shortage","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"arbitrum-faces-temporary-shutdown-due-to-gas-shortage","to_ping":"","pinged":"","post_modified":"2023-06-08 22:45:55","post_modified_gmt":"2023-06-08 12:45:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11929","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11770,"post_author":"13","post_date":"2023-05-18 00:31:26","post_date_gmt":"2023-05-17 14:31:26","post_content":"\n
\n
Judge Analisa Torres has declined a motion by the commission to seal essential documents in the legal tussle.  <\/li>\n\n\n\n
The price of the native XRP token has surged following the ruling.<\/li>\n<\/ul>\n\n\n\n
A US judge presiding over the case between Ripple and the Securities and Exchange Commission (SEC) has rejected a motion filed by the regulator to seal some of the essential documents.<\/p>\n\n\n\n
Judge Analisa Torres of the US District Court has disagreed<\/a> with SEC\u2019s move to seal Hinman\u2019s Speech documents, comprising emails, text messages, and expert reports, saying they were \u2018judicial documents\u2019 subject to a strong presumption of public access.<\/p>\n\n\n\n
As a recap, the SEC is suing<\/a> Ripple for selling unregistered securities. At the centre of the legal matter is a controversial speech by the former finance division director at the commission, William Hinman, who stated that Ether, the native cryptocurrency to the Ethereum blockchain, was not a security. The statement is believed to influence the much-awaited summary judgment considerably.<\/p>\n\n\n\n
The SEC\u2019s Position On The Matter<\/h2>\n\n\n\n
On December 22, the SEC filed a motion before Judge Torres to have all the documents containing Hinman\u2019s speech sealed from the public, saying they were irrelevant to the court\u2019s summary judgment. Further, the commission added that having the documents sealed preserved \u2018openness and candour\u2019, which the court has also rejected.<\/p>\n\n\n\n
\u2018\u2018Regardless of whether the court ultimately determines that the Hinman Speech Documents are admissible, or whether the court relies on the documents in ruling on the summary judgment motions, they are judicial documents subject to a strong presumption of public access because they are \u2018relevant to the performance of the judicial function and useful in the judicial process,'\" <\/em>read the ruling.<\/p>\n\n\n\n
XRP has added more than 5% in the past 24 hours following the development and was trading at $0.4487 at the time of writing. <\/p>\n","post_title":"Ripple Scores Major Victory In Case With The SEC As Court Denies Motion Filed By The Regulator","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-scores-major-victory-in-case-with-the-sec-as-court-denies-motion-filed-by-the-regulator","to_ping":"","pinged":"","post_modified":"2023-05-18 00:31:29","post_modified_gmt":"2023-05-17 14:31:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11770","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11728,"post_author":"12","post_date":"2023-05-15 16:06:43","post_date_gmt":"2023-05-15 06:06:43","post_content":"\n
A recent report<\/a> from Financial Times found that Worldcoin, a cryptocurrency project launched by OpenAI CEO Sam Altman, is close to securing $100M in funding. Those already backing the project include; a16z, Digital Currency Group and Coinbase Ventures; the new round of funding includes \u201cexisting and new investors.\u201d<\/em><\/p>\n\n\n\n
The project<\/a> was founded in 2020 by Sam Altman, Alex Blania, and Max Novendstern. With over 1,697,000 sign ups already, Worldcoin aims to build \"the world\u2019s largest identity and financial network as a public utility, giving ownership to everyone, [and] to create universal access to the global economy regardless of country or background, accelerating the transition to an economic future that welcomes and benefits every person on the planet.<\/em><\/p>\n\n\n\n
In March 2022, The Information\u00a0reported<\/a>\u00a0that the firm was looking to raise $100M\u00a0from investors through a private token sale, citing two people familiar with the situation. These sources stated that \u201cit\u2019s a bear market, a crypto winter. It\u2019s remarkable for a project in this space to get this amount of investment.\u201d<\/em><\/p>\n\n\n\n
Worldcoin Verification, Adoption, And Account Abstraction<\/h2>\n\n\n\nWorldcoin launched a gas-free crypto wallet in early May of 2023 called World App. This wallet relies on a system called World ID which uses zero-knowledge proofs to verify that you're a real human with either a phone number or iris scan. The gasless transactions rely upon account abstraction<\/a>, a popular protocol on Ethereum, under ERC-4337<\/a>.<\/p>\n\n\n\n
World App is also integrated with Uniswap, so users can swap currencies in the wallet.<\/p>\n\n\n\n
Worldcoin has been in its beta for some time now; within \"the next six weeks\" the blockchain protocol is expected to launch and with that, transactions will begin being recorded.<\/p>\n","post_title":"OpenAI's Sam Altman To Secure $100M For Worldcoin; Will Start Recording Transactions In 6 Weeks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openais-sam-altman-to-secure-100m-for-worldcoin-will-start-recording-transactions-in-6-weeks","to_ping":"","pinged":"","post_modified":"2023-05-15 16:06:46","post_modified_gmt":"2023-05-15 06:06:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11728","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11677,"post_author":"15","post_date":"2023-05-13 00:36:12","post_date_gmt":"2023-05-12 14:36:12","post_content":"\n
In the last 24 hours, $46.37 million worth of $PEPE has been deposited into exchanges. The meme coin has net deposits from 1,176 addresses amounting to $22.94 million. $PEPE has seen a significant drop of 31% in value, shrinking its market value to around $500 million, as reported <\/a>by ScopeProtocol.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/ScopeProtocol\/status\/1656916635134066688?s=20\n<\/div><\/figure>\n\n\n\n
$PEPE is a meme coin that has gained significant popularity in cryptocurrency. It has captured the attention of crypto enthusiasts and investors due to its unique and humorous nature.<\/p>\n\n\n\n
Despite its playful image, $PEPE has also experienced fluctuations in its market price. This volatility is characteristic of many memecoins, as trends, speculation, and the overall sentiment of the market can influence their prices.<\/p>\n\n\n\n
More On Memecoins<\/h2>\n\n\n\n
On May 11, 2023, @lookonchain<\/a>, a prominent cryptocurrency analyst, tweeted<\/a> about $PEPE and $LADYs (another meme coin). In his tweet, he praised how a cryptocurrency trader made huge profits trading meme coins. The trader bought $PEPE on Apr 18 and $LADYS before Elon Musk tweeted. In summary, his investment gained 36x on $PEPE and 35x on $LADYS. <\/p>\n\n\n\n
The meme coin phenomenon has emerged as a culture in the cryptocurrency space. We can notably refer to prominent meme coins like Dogecoin ($DOGE) and Shiba Inu ($SHIB). At the time of writing, these two cryptocurrencies ranked number 8 and number 15, respectively, according to Coinmarketcap. $DOGE and $SHIB have paved the way for other meme coins to gain traction in the crypto market.<\/p>\n","post_title":"Massive $PEPE Deposits Shake Crypto Exchanges; Market Value Plunges","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"massive-pepe-deposits-shake-crypto-exchanges-market-value-plunges","to_ping":"","pinged":"","post_modified":"2023-05-13 00:36:16","post_modified_gmt":"2023-05-12 14:36:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11677","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11401,"post_author":"13","post_date":"2023-05-02 11:29:00","post_date_gmt":"2023-05-02 01:29:00","post_content":"\n
\n
SUI farming will open for two days on BNB and TUSD pools beginning May 1.<\/li>\n\n\n\n
The token is expected to list afterward on Binance against BTC, USDT, TUSD, and BNB.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Binance has unveiled its 33rd project on Binance Luanchpoool, Sui, that allows users to farm SUI tokens using staked BNB and TrueUSD (TUSD).<\/p>\n\n\n\n
According to the announcement<\/a> on April 30, the farming of SUI tokens would run for 2 days beginning May 1. After that, the asset would be listed on Binance under trading pairs SUI\/BTC, SUI\/USDT, SUITUSD, and SUI\/BNB, subject to the relevant liquidity requirements.<\/p>\n\n\n\n
40 million SUI tokens are set for launchpool token rewards, 0.4% of the total token supply of 10 billion. So far, more than 9 million BNB tokens have been staked on the BNB pool, while the TUSD pool has more than 450 million staked TUSD.<\/p>\n\n\n\n
DPoS Layer-1 Blockchain<\/h2>\n\n\n\n
Sui<\/a> operates as a delegated proof of stake (DPoS) layer-1 blockchain<\/a> written on the Move programming language. The project has since raised $300 million in a series B funding round backed by Binance Labs and Coinbase - bringing its valuation to $2 billion.<\/p>\n\n\n\n
The project, hyped by its community of supporters as the \u2018Ethereum Killer\u2019<\/em>, uses a unique technology involving a parallel data model and execution engine to enhance transaction scaling. Besides, the blockchain employs an object-centric model for processing parallel transactions.<\/p>\n\n\n\n
The unveiling has pumped the price of Binance\u2019s native BNB token upwards despite a bearish market momentum. At press time, the token was changing hands for $333, representing a jump of 3% in the past day.<\/p>\n","post_title":"Binance Launches SUI Farming With Staked BNB And TrueUSD","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-launches-sui-farming-with-staked-bnb-and-trueusd","to_ping":"","pinged":"","post_modified":"2023-05-04 13:03:20","post_modified_gmt":"2023-05-04 03:03:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
Exploit's Root Cause<\/h2>\n\n\n\n
Curve initially referred to the vulnerability as a typical \"re-entrance\" attack in a Tweet that has since been deleted. Re-entrancy attacks occur when a smart contract interacts with another, leading to incomplete execution.<\/p>\n\n\n\n
Re-entrancy vulnerabilities enable attackers to execute multiple calls in a single function, leading smart contracts to calculate incorrect balances. The $55 million 2016 DAO hack on Ethereum is a notable example.<\/p>\n\n\n\n
Curve initially responded to a Twitter account with a retracted statement, but later clarified their error. Curve confirmed that no wrongdoing occurred for projects integrating Vyper or its users.<\/p>\n\n\n\n
According to Vyper on Twitter, the language's compiler failed, affecting re-entry guards. These guards, included in the projects' code, are designed to protect against re-entry attacks but were ineffective.<\/p>\n\n\n\n
This prevented re-entry guards\u2014protections that were included in the projects\u2019 code and should guard against re-entry attacks\u2014from working, Meir Dolev said to Decrypt. Meir Dolev is the co-founder and CTO of cybersecurity firm Cyvers<\/p>\n","post_title":"DeFi Projects Suffer $24 Million Heist In Curve Pool Exploits","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"defi-projects-suffer-24-million-heist-in-curve-pool-exploits","to_ping":"","pinged":"","post_modified":"2023-08-03 15:25:13","post_modified_gmt":"2023-08-03 05:25:13","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12829","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":12708,"post_author":"21","post_date":"2023-07-25 23:28:55","post_date_gmt":"2023-07-25 13:28:55","post_content":"\n
\n
Worldcoin token, WLD, rose by four-digit percentages after launch and listing on Monday.<\/li>\n\n\n\n
Worldcoin promises biometric proof of identity amid the growing usage of AI.<\/li>\n<\/ul>\n\n\n\n
WLD, the token of the controversial identity-providing crypto project Worldcoin, launched<\/a> on Monday, July 24. Binance announced<\/a> it had listed the token, welcoming users to participate in new trading pairs WLD\/BTC and WLD\/USDT.<\/p>\n\n\n\n
The listing was a significant milestone for WLD as the token generated a frenzy afterwards, rising by four-digit percentages. Binance said that token withdrawal will begin on July 25, 2023, at 17:00 Eastern Eighth District Time. Other exchanges that listed the token were OKX, Huobi, and Bybit.\u00a0<\/p>\n\n\n\n
Worldcoin<\/a> plans to control almost 20% of tokens. The team will use the money for orb production, maintenance, and ecosystem development.<\/p>\n\n\n\n
Worldcoin to provide digital proof of identity<\/h2>\n\n\n\n
Worldcoin has been the centre of attention due to its promise of a biometric proof of identity. Sam Altman, CEO of OpenAI<\/a>, the firm behind ChatGPT, created the crypto project. Altman says World IDs are needed in this era of generative chatbots like ChatGPT.<\/p>\n\n\n\n
Worldcoin uses a device called \"The Orb\" to scan people's irises, generating a personally identifiable Worldcoin ID. The functionality has, however, been criticized for potential security and privacy violations. <\/p>\n\n\n\n
Altman believes Worldcoin would offer a reliable way to distinguish humans from bots while protecting privacy. It will also reduce fraud since only real people can own World IDs.<\/p>\n\n\n\n
Meanwhile, Altman is eyeing a global expansion, with the OpenAI CEO targeting up to 2 billion users. The project has already earned over 2 million users from the beta sign-up period.  <\/p>\n","post_title":"Binance Lists OpenAI-Affiliated Worldcoin Amid High Market Speculation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-lists-openai-affiliated-worldcoin-amid-high-market-speculation","to_ping":"","pinged":"","post_modified":"2023-07-25 23:29:00","post_modified_gmt":"2023-07-25 13:29:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12708","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":12524,"post_author":"1","post_date":"2023-07-15 23:36:16","post_date_gmt":"2023-07-15 13:36:16","post_content":"\n
\n
Ripple scored a landmark victory over the regulator on Thursday.<\/li>\n\n\n\n
The prolonged legal battle is expected to shape the regulations for digital assets.<\/li>\n<\/ul>\n\n\n\n
JP Morgan viewed the court ruling for Ripple as a significant victory. However, according to the investment banking giant, the regulations by enforcement are far from over. <\/p>\n\n\n\n
On Thursday, the US Southern District Court ruled partially in favor of Ripple, the FinTech company that issues XRP. The SEC and Ripple's 2-year legal battle concluded with the ruling that cryptocurrency issuance on exchanges is not an investment contract.<\/p>\n\n\n\n
\"This ruling is undoubtedly a milestone win for the industry. It provides legal clarity and defense around what does and does not constitute a security, and that overall outcome is in favor of what many in the industry had been arguing,\"<\/em> JP Morgan wrote<\/a> in the note seen by Coindesk.<\/p>\n\n\n\n
Following the landmark ruling, the price of cryptocurrencies soared as sentiment changed in the digital asset space. The cost of XRP rose by about 70%, while Bitcoin reached its highest level in more than a year.<\/p>\n\n\n\n
SEC's Next Step<\/h2>\n\n\n\n
However, according to JPMorgan, the ruling may not be the end of what has come to be termed as regulations by enforcement by the SEC, as the regulator could appeal the case or bring similar charges against other cryptocurrency companies.<\/p>\n\n\n\n
In June, Binance, the leading crypto exchange, faced 13 charges from the SEC, one being the sale of unauthorized securities. The regulator sued Coinbase, the largest US cryptocurrency exchange, for security law violations. <\/p>\n\n\n\n
At the start of the year, the SEC brought charges<\/a> against Gemini and Genesis for allegedly violating the securities regulations related to crypto lending. In February, it\u00a0 fined crypto exchange Kraken<\/a>\u00a0$30 million and ordered the platform to cease offering staking services to US users.<\/p>\n","post_title":"Ripple-SEC Ruling \u2018A Win\u2019 For Crypto Industry But Regulatory War Not Over, JP Morgan Says","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-sec-ruling-a-win-for-crypto-industry-but-regulatory-war-not-over-jp-morgan-says","to_ping":"","pinged":"","post_modified":"2023-07-15 23:36:25","post_modified_gmt":"2023-07-15 13:36:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11929,"post_author":"15","post_date":"2023-06-08 22:45:46","post_date_gmt":"2023-06-08 12:45:46","post_content":"\n
Arbitrum, a layer 2 blockchain, halts the process of transactions due to funding issues. With over $2.24 billion in deposits, the network experiences an hour-long standstill due to gas shortage. <\/p>\n\n\n\n
Developers on the Arbitrum Discord server<\/a> faced connectivity issues with the network's sequencer. The software is responsible for bundling and confirming transactions on the Ethereum network.<\/p>\n\n\n\n
According to on-chain records<\/a>, the sequencer exhausted its supply of Ether, the native cryptocurrency of Ethereum used for transaction fees<\/a>. Without sufficient Ether to cover the fees, the sequencer could not process transactions on Ethereum, resulting in Arbitrum coming to a halt.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
What's Next to Arbitrum?<\/h2>\n\n\n\n
Following an hour-long period of transaction processing failure, Arbitrum has resumed its operations. A wallet that had previously transferred funds to the Arbitrum multi-signature wallet sent 1.4 Ether to the sequence. This replenishment enabled the sequencer to resume sending transactions to Ethereum.<\/p>\n\n\n\n
The cause behind the depletion of gas in Arbitrum's sequencer remains uncertain. Since its launch in May 2021, the sequencer has only been manually refuelled with Ether on four occasions.<\/p>\n\n\n\n
The recent event highlights the reliance of Arbitrum on a centralized control point. Offchain Labs, the company behind Arbitrum, has expressed its plans to decentralize the network's sequencer. <\/p>\n","post_title":"Arbitrum Faces Temporary Shutdown Due To Gas Shortage","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"arbitrum-faces-temporary-shutdown-due-to-gas-shortage","to_ping":"","pinged":"","post_modified":"2023-06-08 22:45:55","post_modified_gmt":"2023-06-08 12:45:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11929","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11770,"post_author":"13","post_date":"2023-05-18 00:31:26","post_date_gmt":"2023-05-17 14:31:26","post_content":"\n
\n
Judge Analisa Torres has declined a motion by the commission to seal essential documents in the legal tussle.  <\/li>\n\n\n\n
The price of the native XRP token has surged following the ruling.<\/li>\n<\/ul>\n\n\n\n
A US judge presiding over the case between Ripple and the Securities and Exchange Commission (SEC) has rejected a motion filed by the regulator to seal some of the essential documents.<\/p>\n\n\n\n
Judge Analisa Torres of the US District Court has disagreed<\/a> with SEC\u2019s move to seal Hinman\u2019s Speech documents, comprising emails, text messages, and expert reports, saying they were \u2018judicial documents\u2019 subject to a strong presumption of public access.<\/p>\n\n\n\n
As a recap, the SEC is suing<\/a> Ripple for selling unregistered securities. At the centre of the legal matter is a controversial speech by the former finance division director at the commission, William Hinman, who stated that Ether, the native cryptocurrency to the Ethereum blockchain, was not a security. The statement is believed to influence the much-awaited summary judgment considerably.<\/p>\n\n\n\n
The SEC\u2019s Position On The Matter<\/h2>\n\n\n\n
On December 22, the SEC filed a motion before Judge Torres to have all the documents containing Hinman\u2019s speech sealed from the public, saying they were irrelevant to the court\u2019s summary judgment. Further, the commission added that having the documents sealed preserved \u2018openness and candour\u2019, which the court has also rejected.<\/p>\n\n\n\n
\u2018\u2018Regardless of whether the court ultimately determines that the Hinman Speech Documents are admissible, or whether the court relies on the documents in ruling on the summary judgment motions, they are judicial documents subject to a strong presumption of public access because they are \u2018relevant to the performance of the judicial function and useful in the judicial process,'\" <\/em>read the ruling.<\/p>\n\n\n\n
XRP has added more than 5% in the past 24 hours following the development and was trading at $0.4487 at the time of writing. <\/p>\n","post_title":"Ripple Scores Major Victory In Case With The SEC As Court Denies Motion Filed By The Regulator","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-scores-major-victory-in-case-with-the-sec-as-court-denies-motion-filed-by-the-regulator","to_ping":"","pinged":"","post_modified":"2023-05-18 00:31:29","post_modified_gmt":"2023-05-17 14:31:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11770","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11728,"post_author":"12","post_date":"2023-05-15 16:06:43","post_date_gmt":"2023-05-15 06:06:43","post_content":"\n
A recent report<\/a> from Financial Times found that Worldcoin, a cryptocurrency project launched by OpenAI CEO Sam Altman, is close to securing $100M in funding. Those already backing the project include; a16z, Digital Currency Group and Coinbase Ventures; the new round of funding includes \u201cexisting and new investors.\u201d<\/em><\/p>\n\n\n\n
The project<\/a> was founded in 2020 by Sam Altman, Alex Blania, and Max Novendstern. With over 1,697,000 sign ups already, Worldcoin aims to build \"the world\u2019s largest identity and financial network as a public utility, giving ownership to everyone, [and] to create universal access to the global economy regardless of country or background, accelerating the transition to an economic future that welcomes and benefits every person on the planet.<\/em><\/p>\n\n\n\n
In March 2022, The Information\u00a0reported<\/a>\u00a0that the firm was looking to raise $100M\u00a0from investors through a private token sale, citing two people familiar with the situation. These sources stated that \u201cit\u2019s a bear market, a crypto winter. It\u2019s remarkable for a project in this space to get this amount of investment.\u201d<\/em><\/p>\n\n\n\n
Worldcoin Verification, Adoption, And Account Abstraction<\/h2>\n\n\n\nWorldcoin launched a gas-free crypto wallet in early May of 2023 called World App. This wallet relies on a system called World ID which uses zero-knowledge proofs to verify that you're a real human with either a phone number or iris scan. The gasless transactions rely upon account abstraction<\/a>, a popular protocol on Ethereum, under ERC-4337<\/a>.<\/p>\n\n\n\n
World App is also integrated with Uniswap, so users can swap currencies in the wallet.<\/p>\n\n\n\n
Worldcoin has been in its beta for some time now; within \"the next six weeks\" the blockchain protocol is expected to launch and with that, transactions will begin being recorded.<\/p>\n","post_title":"OpenAI's Sam Altman To Secure $100M For Worldcoin; Will Start Recording Transactions In 6 Weeks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openais-sam-altman-to-secure-100m-for-worldcoin-will-start-recording-transactions-in-6-weeks","to_ping":"","pinged":"","post_modified":"2023-05-15 16:06:46","post_modified_gmt":"2023-05-15 06:06:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11728","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11677,"post_author":"15","post_date":"2023-05-13 00:36:12","post_date_gmt":"2023-05-12 14:36:12","post_content":"\n
In the last 24 hours, $46.37 million worth of $PEPE has been deposited into exchanges. The meme coin has net deposits from 1,176 addresses amounting to $22.94 million. $PEPE has seen a significant drop of 31% in value, shrinking its market value to around $500 million, as reported <\/a>by ScopeProtocol.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/ScopeProtocol\/status\/1656916635134066688?s=20\n<\/div><\/figure>\n\n\n\n
$PEPE is a meme coin that has gained significant popularity in cryptocurrency. It has captured the attention of crypto enthusiasts and investors due to its unique and humorous nature.<\/p>\n\n\n\n
Despite its playful image, $PEPE has also experienced fluctuations in its market price. This volatility is characteristic of many memecoins, as trends, speculation, and the overall sentiment of the market can influence their prices.<\/p>\n\n\n\n
More On Memecoins<\/h2>\n\n\n\n
On May 11, 2023, @lookonchain<\/a>, a prominent cryptocurrency analyst, tweeted<\/a> about $PEPE and $LADYs (another meme coin). In his tweet, he praised how a cryptocurrency trader made huge profits trading meme coins. The trader bought $PEPE on Apr 18 and $LADYS before Elon Musk tweeted. In summary, his investment gained 36x on $PEPE and 35x on $LADYS. <\/p>\n\n\n\n
The meme coin phenomenon has emerged as a culture in the cryptocurrency space. We can notably refer to prominent meme coins like Dogecoin ($DOGE) and Shiba Inu ($SHIB). At the time of writing, these two cryptocurrencies ranked number 8 and number 15, respectively, according to Coinmarketcap. $DOGE and $SHIB have paved the way for other meme coins to gain traction in the crypto market.<\/p>\n","post_title":"Massive $PEPE Deposits Shake Crypto Exchanges; Market Value Plunges","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"massive-pepe-deposits-shake-crypto-exchanges-market-value-plunges","to_ping":"","pinged":"","post_modified":"2023-05-13 00:36:16","post_modified_gmt":"2023-05-12 14:36:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11677","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11401,"post_author":"13","post_date":"2023-05-02 11:29:00","post_date_gmt":"2023-05-02 01:29:00","post_content":"\n
\n
SUI farming will open for two days on BNB and TUSD pools beginning May 1.<\/li>\n\n\n\n
The token is expected to list afterward on Binance against BTC, USDT, TUSD, and BNB.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Binance has unveiled its 33rd project on Binance Luanchpoool, Sui, that allows users to farm SUI tokens using staked BNB and TrueUSD (TUSD).<\/p>\n\n\n\n
According to the announcement<\/a> on April 30, the farming of SUI tokens would run for 2 days beginning May 1. After that, the asset would be listed on Binance under trading pairs SUI\/BTC, SUI\/USDT, SUITUSD, and SUI\/BNB, subject to the relevant liquidity requirements.<\/p>\n\n\n\n
40 million SUI tokens are set for launchpool token rewards, 0.4% of the total token supply of 10 billion. So far, more than 9 million BNB tokens have been staked on the BNB pool, while the TUSD pool has more than 450 million staked TUSD.<\/p>\n\n\n\n
DPoS Layer-1 Blockchain<\/h2>\n\n\n\n
Sui<\/a> operates as a delegated proof of stake (DPoS) layer-1 blockchain<\/a> written on the Move programming language. The project has since raised $300 million in a series B funding round backed by Binance Labs and Coinbase - bringing its valuation to $2 billion.<\/p>\n\n\n\n
The project, hyped by its community of supporters as the \u2018Ethereum Killer\u2019<\/em>, uses a unique technology involving a parallel data model and execution engine to enhance transaction scaling. Besides, the blockchain employs an object-centric model for processing parallel transactions.<\/p>\n\n\n\n
The unveiling has pumped the price of Binance\u2019s native BNB token upwards despite a bearish market momentum. At press time, the token was changing hands for $333, representing a jump of 3% in the past day.<\/p>\n","post_title":"Binance Launches SUI Farming With Staked BNB And TrueUSD","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-launches-sui-farming-with-staked-bnb-and-trueusd","to_ping":"","pinged":"","post_modified":"2023-05-04 13:03:20","post_modified_gmt":"2023-05-04 03:03:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 … 10 Next

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Altcoins

Ripple Challenges SEC’s Bid For Appeal In Legal Battle

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November 24, 2024

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\n
Decurity, a decentralized finance security firm, revealed <\/a>that the NFT lending protocol JPEG'd suffered an $11 million cryptocurrency theft. JPEG'd was one of the first to detect the problem in its Curve pool.<\/p>\n\n\n\n
Exploit's Root Cause<\/h2>\n\n\n\n
Curve initially referred to the vulnerability as a typical \"re-entrance\" attack in a Tweet that has since been deleted. Re-entrancy attacks occur when a smart contract interacts with another, leading to incomplete execution.<\/p>\n\n\n\n
Re-entrancy vulnerabilities enable attackers to execute multiple calls in a single function, leading smart contracts to calculate incorrect balances. The $55 million 2016 DAO hack on Ethereum is a notable example.<\/p>\n\n\n\n
Curve initially responded to a Twitter account with a retracted statement, but later clarified their error. Curve confirmed that no wrongdoing occurred for projects integrating Vyper or its users.<\/p>\n\n\n\n
According to Vyper on Twitter, the language's compiler failed, affecting re-entry guards. These guards, included in the projects' code, are designed to protect against re-entry attacks but were ineffective.<\/p>\n\n\n\n
This prevented re-entry guards\u2014protections that were included in the projects\u2019 code and should guard against re-entry attacks\u2014from working, Meir Dolev said to Decrypt. Meir Dolev is the co-founder and CTO of cybersecurity firm Cyvers<\/p>\n","post_title":"DeFi Projects Suffer $24 Million Heist In Curve Pool Exploits","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"defi-projects-suffer-24-million-heist-in-curve-pool-exploits","to_ping":"","pinged":"","post_modified":"2023-08-03 15:25:13","post_modified_gmt":"2023-08-03 05:25:13","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12829","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":12708,"post_author":"21","post_date":"2023-07-25 23:28:55","post_date_gmt":"2023-07-25 13:28:55","post_content":"\n
\n
Worldcoin token, WLD, rose by four-digit percentages after launch and listing on Monday.<\/li>\n\n\n\n
Worldcoin promises biometric proof of identity amid the growing usage of AI.<\/li>\n<\/ul>\n\n\n\n
WLD, the token of the controversial identity-providing crypto project Worldcoin, launched<\/a> on Monday, July 24. Binance announced<\/a> it had listed the token, welcoming users to participate in new trading pairs WLD\/BTC and WLD\/USDT.<\/p>\n\n\n\n
The listing was a significant milestone for WLD as the token generated a frenzy afterwards, rising by four-digit percentages. Binance said that token withdrawal will begin on July 25, 2023, at 17:00 Eastern Eighth District Time. Other exchanges that listed the token were OKX, Huobi, and Bybit.\u00a0<\/p>\n\n\n\n
Worldcoin<\/a> plans to control almost 20% of tokens. The team will use the money for orb production, maintenance, and ecosystem development.<\/p>\n\n\n\n
Worldcoin to provide digital proof of identity<\/h2>\n\n\n\n
Worldcoin has been the centre of attention due to its promise of a biometric proof of identity. Sam Altman, CEO of OpenAI<\/a>, the firm behind ChatGPT, created the crypto project. Altman says World IDs are needed in this era of generative chatbots like ChatGPT.<\/p>\n\n\n\n
Worldcoin uses a device called \"The Orb\" to scan people's irises, generating a personally identifiable Worldcoin ID. The functionality has, however, been criticized for potential security and privacy violations. <\/p>\n\n\n\n
Altman believes Worldcoin would offer a reliable way to distinguish humans from bots while protecting privacy. It will also reduce fraud since only real people can own World IDs.<\/p>\n\n\n\n
Meanwhile, Altman is eyeing a global expansion, with the OpenAI CEO targeting up to 2 billion users. The project has already earned over 2 million users from the beta sign-up period.  <\/p>\n","post_title":"Binance Lists OpenAI-Affiliated Worldcoin Amid High Market Speculation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-lists-openai-affiliated-worldcoin-amid-high-market-speculation","to_ping":"","pinged":"","post_modified":"2023-07-25 23:29:00","post_modified_gmt":"2023-07-25 13:29:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12708","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":12524,"post_author":"1","post_date":"2023-07-15 23:36:16","post_date_gmt":"2023-07-15 13:36:16","post_content":"\n
\n
Ripple scored a landmark victory over the regulator on Thursday.<\/li>\n\n\n\n
The prolonged legal battle is expected to shape the regulations for digital assets.<\/li>\n<\/ul>\n\n\n\n
JP Morgan viewed the court ruling for Ripple as a significant victory. However, according to the investment banking giant, the regulations by enforcement are far from over. <\/p>\n\n\n\n
On Thursday, the US Southern District Court ruled partially in favor of Ripple, the FinTech company that issues XRP. The SEC and Ripple's 2-year legal battle concluded with the ruling that cryptocurrency issuance on exchanges is not an investment contract.<\/p>\n\n\n\n
\"This ruling is undoubtedly a milestone win for the industry. It provides legal clarity and defense around what does and does not constitute a security, and that overall outcome is in favor of what many in the industry had been arguing,\"<\/em> JP Morgan wrote<\/a> in the note seen by Coindesk.<\/p>\n\n\n\n
Following the landmark ruling, the price of cryptocurrencies soared as sentiment changed in the digital asset space. The cost of XRP rose by about 70%, while Bitcoin reached its highest level in more than a year.<\/p>\n\n\n\n
SEC's Next Step<\/h2>\n\n\n\n
However, according to JPMorgan, the ruling may not be the end of what has come to be termed as regulations by enforcement by the SEC, as the regulator could appeal the case or bring similar charges against other cryptocurrency companies.<\/p>\n\n\n\n
In June, Binance, the leading crypto exchange, faced 13 charges from the SEC, one being the sale of unauthorized securities. The regulator sued Coinbase, the largest US cryptocurrency exchange, for security law violations. <\/p>\n\n\n\n
At the start of the year, the SEC brought charges<\/a> against Gemini and Genesis for allegedly violating the securities regulations related to crypto lending. In February, it\u00a0 fined crypto exchange Kraken<\/a>\u00a0$30 million and ordered the platform to cease offering staking services to US users.<\/p>\n","post_title":"Ripple-SEC Ruling \u2018A Win\u2019 For Crypto Industry But Regulatory War Not Over, JP Morgan Says","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-sec-ruling-a-win-for-crypto-industry-but-regulatory-war-not-over-jp-morgan-says","to_ping":"","pinged":"","post_modified":"2023-07-15 23:36:25","post_modified_gmt":"2023-07-15 13:36:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11929,"post_author":"15","post_date":"2023-06-08 22:45:46","post_date_gmt":"2023-06-08 12:45:46","post_content":"\n
Arbitrum, a layer 2 blockchain, halts the process of transactions due to funding issues. With over $2.24 billion in deposits, the network experiences an hour-long standstill due to gas shortage. <\/p>\n\n\n\n
Developers on the Arbitrum Discord server<\/a> faced connectivity issues with the network's sequencer. The software is responsible for bundling and confirming transactions on the Ethereum network.<\/p>\n\n\n\n
According to on-chain records<\/a>, the sequencer exhausted its supply of Ether, the native cryptocurrency of Ethereum used for transaction fees<\/a>. Without sufficient Ether to cover the fees, the sequencer could not process transactions on Ethereum, resulting in Arbitrum coming to a halt.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
What's Next to Arbitrum?<\/h2>\n\n\n\n
Following an hour-long period of transaction processing failure, Arbitrum has resumed its operations. A wallet that had previously transferred funds to the Arbitrum multi-signature wallet sent 1.4 Ether to the sequence. This replenishment enabled the sequencer to resume sending transactions to Ethereum.<\/p>\n\n\n\n
The cause behind the depletion of gas in Arbitrum's sequencer remains uncertain. Since its launch in May 2021, the sequencer has only been manually refuelled with Ether on four occasions.<\/p>\n\n\n\n
The recent event highlights the reliance of Arbitrum on a centralized control point. Offchain Labs, the company behind Arbitrum, has expressed its plans to decentralize the network's sequencer. <\/p>\n","post_title":"Arbitrum Faces Temporary Shutdown Due To Gas Shortage","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"arbitrum-faces-temporary-shutdown-due-to-gas-shortage","to_ping":"","pinged":"","post_modified":"2023-06-08 22:45:55","post_modified_gmt":"2023-06-08 12:45:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11929","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11770,"post_author":"13","post_date":"2023-05-18 00:31:26","post_date_gmt":"2023-05-17 14:31:26","post_content":"\n
\n
Judge Analisa Torres has declined a motion by the commission to seal essential documents in the legal tussle.  <\/li>\n\n\n\n
The price of the native XRP token has surged following the ruling.<\/li>\n<\/ul>\n\n\n\n
A US judge presiding over the case between Ripple and the Securities and Exchange Commission (SEC) has rejected a motion filed by the regulator to seal some of the essential documents.<\/p>\n\n\n\n
Judge Analisa Torres of the US District Court has disagreed<\/a> with SEC\u2019s move to seal Hinman\u2019s Speech documents, comprising emails, text messages, and expert reports, saying they were \u2018judicial documents\u2019 subject to a strong presumption of public access.<\/p>\n\n\n\n
As a recap, the SEC is suing<\/a> Ripple for selling unregistered securities. At the centre of the legal matter is a controversial speech by the former finance division director at the commission, William Hinman, who stated that Ether, the native cryptocurrency to the Ethereum blockchain, was not a security. The statement is believed to influence the much-awaited summary judgment considerably.<\/p>\n\n\n\n
The SEC\u2019s Position On The Matter<\/h2>\n\n\n\n
On December 22, the SEC filed a motion before Judge Torres to have all the documents containing Hinman\u2019s speech sealed from the public, saying they were irrelevant to the court\u2019s summary judgment. Further, the commission added that having the documents sealed preserved \u2018openness and candour\u2019, which the court has also rejected.<\/p>\n\n\n\n
\u2018\u2018Regardless of whether the court ultimately determines that the Hinman Speech Documents are admissible, or whether the court relies on the documents in ruling on the summary judgment motions, they are judicial documents subject to a strong presumption of public access because they are \u2018relevant to the performance of the judicial function and useful in the judicial process,'\" <\/em>read the ruling.<\/p>\n\n\n\n
XRP has added more than 5% in the past 24 hours following the development and was trading at $0.4487 at the time of writing. <\/p>\n","post_title":"Ripple Scores Major Victory In Case With The SEC As Court Denies Motion Filed By The Regulator","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-scores-major-victory-in-case-with-the-sec-as-court-denies-motion-filed-by-the-regulator","to_ping":"","pinged":"","post_modified":"2023-05-18 00:31:29","post_modified_gmt":"2023-05-17 14:31:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11770","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11728,"post_author":"12","post_date":"2023-05-15 16:06:43","post_date_gmt":"2023-05-15 06:06:43","post_content":"\n
A recent report<\/a> from Financial Times found that Worldcoin, a cryptocurrency project launched by OpenAI CEO Sam Altman, is close to securing $100M in funding. Those already backing the project include; a16z, Digital Currency Group and Coinbase Ventures; the new round of funding includes \u201cexisting and new investors.\u201d<\/em><\/p>\n\n\n\n
The project<\/a> was founded in 2020 by Sam Altman, Alex Blania, and Max Novendstern. With over 1,697,000 sign ups already, Worldcoin aims to build \"the world\u2019s largest identity and financial network as a public utility, giving ownership to everyone, [and] to create universal access to the global economy regardless of country or background, accelerating the transition to an economic future that welcomes and benefits every person on the planet.<\/em><\/p>\n\n\n\n
In March 2022, The Information\u00a0reported<\/a>\u00a0that the firm was looking to raise $100M\u00a0from investors through a private token sale, citing two people familiar with the situation. These sources stated that \u201cit\u2019s a bear market, a crypto winter. It\u2019s remarkable for a project in this space to get this amount of investment.\u201d<\/em><\/p>\n\n\n\n
Worldcoin Verification, Adoption, And Account Abstraction<\/h2>\n\n\n\nWorldcoin launched a gas-free crypto wallet in early May of 2023 called World App. This wallet relies on a system called World ID which uses zero-knowledge proofs to verify that you're a real human with either a phone number or iris scan. The gasless transactions rely upon account abstraction<\/a>, a popular protocol on Ethereum, under ERC-4337<\/a>.<\/p>\n\n\n\n
World App is also integrated with Uniswap, so users can swap currencies in the wallet.<\/p>\n\n\n\n
Worldcoin has been in its beta for some time now; within \"the next six weeks\" the blockchain protocol is expected to launch and with that, transactions will begin being recorded.<\/p>\n","post_title":"OpenAI's Sam Altman To Secure $100M For Worldcoin; Will Start Recording Transactions In 6 Weeks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openais-sam-altman-to-secure-100m-for-worldcoin-will-start-recording-transactions-in-6-weeks","to_ping":"","pinged":"","post_modified":"2023-05-15 16:06:46","post_modified_gmt":"2023-05-15 06:06:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11728","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11677,"post_author":"15","post_date":"2023-05-13 00:36:12","post_date_gmt":"2023-05-12 14:36:12","post_content":"\n
In the last 24 hours, $46.37 million worth of $PEPE has been deposited into exchanges. The meme coin has net deposits from 1,176 addresses amounting to $22.94 million. $PEPE has seen a significant drop of 31% in value, shrinking its market value to around $500 million, as reported <\/a>by ScopeProtocol.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/ScopeProtocol\/status\/1656916635134066688?s=20\n<\/div><\/figure>\n\n\n\n
$PEPE is a meme coin that has gained significant popularity in cryptocurrency. It has captured the attention of crypto enthusiasts and investors due to its unique and humorous nature.<\/p>\n\n\n\n
Despite its playful image, $PEPE has also experienced fluctuations in its market price. This volatility is characteristic of many memecoins, as trends, speculation, and the overall sentiment of the market can influence their prices.<\/p>\n\n\n\n
More On Memecoins<\/h2>\n\n\n\n
On May 11, 2023, @lookonchain<\/a>, a prominent cryptocurrency analyst, tweeted<\/a> about $PEPE and $LADYs (another meme coin). In his tweet, he praised how a cryptocurrency trader made huge profits trading meme coins. The trader bought $PEPE on Apr 18 and $LADYS before Elon Musk tweeted. In summary, his investment gained 36x on $PEPE and 35x on $LADYS. <\/p>\n\n\n\n
The meme coin phenomenon has emerged as a culture in the cryptocurrency space. We can notably refer to prominent meme coins like Dogecoin ($DOGE) and Shiba Inu ($SHIB). At the time of writing, these two cryptocurrencies ranked number 8 and number 15, respectively, according to Coinmarketcap. $DOGE and $SHIB have paved the way for other meme coins to gain traction in the crypto market.<\/p>\n","post_title":"Massive $PEPE Deposits Shake Crypto Exchanges; Market Value Plunges","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"massive-pepe-deposits-shake-crypto-exchanges-market-value-plunges","to_ping":"","pinged":"","post_modified":"2023-05-13 00:36:16","post_modified_gmt":"2023-05-12 14:36:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11677","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11401,"post_author":"13","post_date":"2023-05-02 11:29:00","post_date_gmt":"2023-05-02 01:29:00","post_content":"\n
\n
SUI farming will open for two days on BNB and TUSD pools beginning May 1.<\/li>\n\n\n\n
The token is expected to list afterward on Binance against BTC, USDT, TUSD, and BNB.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Binance has unveiled its 33rd project on Binance Luanchpoool, Sui, that allows users to farm SUI tokens using staked BNB and TrueUSD (TUSD).<\/p>\n\n\n\n
According to the announcement<\/a> on April 30, the farming of SUI tokens would run for 2 days beginning May 1. After that, the asset would be listed on Binance under trading pairs SUI\/BTC, SUI\/USDT, SUITUSD, and SUI\/BNB, subject to the relevant liquidity requirements.<\/p>\n\n\n\n
40 million SUI tokens are set for launchpool token rewards, 0.4% of the total token supply of 10 billion. So far, more than 9 million BNB tokens have been staked on the BNB pool, while the TUSD pool has more than 450 million staked TUSD.<\/p>\n\n\n\n
DPoS Layer-1 Blockchain<\/h2>\n\n\n\n
Sui<\/a> operates as a delegated proof of stake (DPoS) layer-1 blockchain<\/a> written on the Move programming language. The project has since raised $300 million in a series B funding round backed by Binance Labs and Coinbase - bringing its valuation to $2 billion.<\/p>\n\n\n\n
The project, hyped by its community of supporters as the \u2018Ethereum Killer\u2019<\/em>, uses a unique technology involving a parallel data model and execution engine to enhance transaction scaling. Besides, the blockchain employs an object-centric model for processing parallel transactions.<\/p>\n\n\n\n
The unveiling has pumped the price of Binance\u2019s native BNB token upwards despite a bearish market momentum. At press time, the token was changing hands for $333, representing a jump of 3% in the past day.<\/p>\n","post_title":"Binance Launches SUI Farming With Staked BNB And TrueUSD","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-launches-sui-farming-with-staked-bnb-and-trueusd","to_ping":"","pinged":"","post_modified":"2023-05-04 13:03:20","post_modified_gmt":"2023-05-04 03:03:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 … 10 Next

Most Read

Altcoins

Ripple Challenges SEC’s Bid For Appeal In Legal Battle

September 3, 2023

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Artificial Intelligence

Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

August 15, 2024

Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

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By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
\nhttps:\/\/twitter.com\/CurveFinance\/status\/1685693202722848768?s=20\n<\/div><\/figure>\n\n\n\n
Decurity, a decentralized finance security firm, revealed <\/a>that the NFT lending protocol JPEG'd suffered an $11 million cryptocurrency theft. JPEG'd was one of the first to detect the problem in its Curve pool.<\/p>\n\n\n\n
Exploit's Root Cause<\/h2>\n\n\n\n
Curve initially referred to the vulnerability as a typical \"re-entrance\" attack in a Tweet that has since been deleted. Re-entrancy attacks occur when a smart contract interacts with another, leading to incomplete execution.<\/p>\n\n\n\n
Re-entrancy vulnerabilities enable attackers to execute multiple calls in a single function, leading smart contracts to calculate incorrect balances. The $55 million 2016 DAO hack on Ethereum is a notable example.<\/p>\n\n\n\n
Curve initially responded to a Twitter account with a retracted statement, but later clarified their error. Curve confirmed that no wrongdoing occurred for projects integrating Vyper or its users.<\/p>\n\n\n\n
According to Vyper on Twitter, the language's compiler failed, affecting re-entry guards. These guards, included in the projects' code, are designed to protect against re-entry attacks but were ineffective.<\/p>\n\n\n\n
This prevented re-entry guards\u2014protections that were included in the projects\u2019 code and should guard against re-entry attacks\u2014from working, Meir Dolev said to Decrypt. Meir Dolev is the co-founder and CTO of cybersecurity firm Cyvers<\/p>\n","post_title":"DeFi Projects Suffer $24 Million Heist In Curve Pool Exploits","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"defi-projects-suffer-24-million-heist-in-curve-pool-exploits","to_ping":"","pinged":"","post_modified":"2023-08-03 15:25:13","post_modified_gmt":"2023-08-03 05:25:13","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12829","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":12708,"post_author":"21","post_date":"2023-07-25 23:28:55","post_date_gmt":"2023-07-25 13:28:55","post_content":"\n
\n
Worldcoin token, WLD, rose by four-digit percentages after launch and listing on Monday.<\/li>\n\n\n\n
Worldcoin promises biometric proof of identity amid the growing usage of AI.<\/li>\n<\/ul>\n\n\n\n
WLD, the token of the controversial identity-providing crypto project Worldcoin, launched<\/a> on Monday, July 24. Binance announced<\/a> it had listed the token, welcoming users to participate in new trading pairs WLD\/BTC and WLD\/USDT.<\/p>\n\n\n\n
The listing was a significant milestone for WLD as the token generated a frenzy afterwards, rising by four-digit percentages. Binance said that token withdrawal will begin on July 25, 2023, at 17:00 Eastern Eighth District Time. Other exchanges that listed the token were OKX, Huobi, and Bybit.\u00a0<\/p>\n\n\n\n
Worldcoin<\/a> plans to control almost 20% of tokens. The team will use the money for orb production, maintenance, and ecosystem development.<\/p>\n\n\n\n
Worldcoin to provide digital proof of identity<\/h2>\n\n\n\n
Worldcoin has been the centre of attention due to its promise of a biometric proof of identity. Sam Altman, CEO of OpenAI<\/a>, the firm behind ChatGPT, created the crypto project. Altman says World IDs are needed in this era of generative chatbots like ChatGPT.<\/p>\n\n\n\n
Worldcoin uses a device called \"The Orb\" to scan people's irises, generating a personally identifiable Worldcoin ID. The functionality has, however, been criticized for potential security and privacy violations. <\/p>\n\n\n\n
Altman believes Worldcoin would offer a reliable way to distinguish humans from bots while protecting privacy. It will also reduce fraud since only real people can own World IDs.<\/p>\n\n\n\n
Meanwhile, Altman is eyeing a global expansion, with the OpenAI CEO targeting up to 2 billion users. The project has already earned over 2 million users from the beta sign-up period.  <\/p>\n","post_title":"Binance Lists OpenAI-Affiliated Worldcoin Amid High Market Speculation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-lists-openai-affiliated-worldcoin-amid-high-market-speculation","to_ping":"","pinged":"","post_modified":"2023-07-25 23:29:00","post_modified_gmt":"2023-07-25 13:29:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12708","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":12524,"post_author":"1","post_date":"2023-07-15 23:36:16","post_date_gmt":"2023-07-15 13:36:16","post_content":"\n
\n
Ripple scored a landmark victory over the regulator on Thursday.<\/li>\n\n\n\n
The prolonged legal battle is expected to shape the regulations for digital assets.<\/li>\n<\/ul>\n\n\n\n
JP Morgan viewed the court ruling for Ripple as a significant victory. However, according to the investment banking giant, the regulations by enforcement are far from over. <\/p>\n\n\n\n
On Thursday, the US Southern District Court ruled partially in favor of Ripple, the FinTech company that issues XRP. The SEC and Ripple's 2-year legal battle concluded with the ruling that cryptocurrency issuance on exchanges is not an investment contract.<\/p>\n\n\n\n
\"This ruling is undoubtedly a milestone win for the industry. It provides legal clarity and defense around what does and does not constitute a security, and that overall outcome is in favor of what many in the industry had been arguing,\"<\/em> JP Morgan wrote<\/a> in the note seen by Coindesk.<\/p>\n\n\n\n
Following the landmark ruling, the price of cryptocurrencies soared as sentiment changed in the digital asset space. The cost of XRP rose by about 70%, while Bitcoin reached its highest level in more than a year.<\/p>\n\n\n\n
SEC's Next Step<\/h2>\n\n\n\n
However, according to JPMorgan, the ruling may not be the end of what has come to be termed as regulations by enforcement by the SEC, as the regulator could appeal the case or bring similar charges against other cryptocurrency companies.<\/p>\n\n\n\n
In June, Binance, the leading crypto exchange, faced 13 charges from the SEC, one being the sale of unauthorized securities. The regulator sued Coinbase, the largest US cryptocurrency exchange, for security law violations. <\/p>\n\n\n\n
At the start of the year, the SEC brought charges<\/a> against Gemini and Genesis for allegedly violating the securities regulations related to crypto lending. In February, it\u00a0 fined crypto exchange Kraken<\/a>\u00a0$30 million and ordered the platform to cease offering staking services to US users.<\/p>\n","post_title":"Ripple-SEC Ruling \u2018A Win\u2019 For Crypto Industry But Regulatory War Not Over, JP Morgan Says","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-sec-ruling-a-win-for-crypto-industry-but-regulatory-war-not-over-jp-morgan-says","to_ping":"","pinged":"","post_modified":"2023-07-15 23:36:25","post_modified_gmt":"2023-07-15 13:36:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11929,"post_author":"15","post_date":"2023-06-08 22:45:46","post_date_gmt":"2023-06-08 12:45:46","post_content":"\n
Arbitrum, a layer 2 blockchain, halts the process of transactions due to funding issues. With over $2.24 billion in deposits, the network experiences an hour-long standstill due to gas shortage. <\/p>\n\n\n\n
Developers on the Arbitrum Discord server<\/a> faced connectivity issues with the network's sequencer. The software is responsible for bundling and confirming transactions on the Ethereum network.<\/p>\n\n\n\n
According to on-chain records<\/a>, the sequencer exhausted its supply of Ether, the native cryptocurrency of Ethereum used for transaction fees<\/a>. Without sufficient Ether to cover the fees, the sequencer could not process transactions on Ethereum, resulting in Arbitrum coming to a halt.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
What's Next to Arbitrum?<\/h2>\n\n\n\n
Following an hour-long period of transaction processing failure, Arbitrum has resumed its operations. A wallet that had previously transferred funds to the Arbitrum multi-signature wallet sent 1.4 Ether to the sequence. This replenishment enabled the sequencer to resume sending transactions to Ethereum.<\/p>\n\n\n\n
The cause behind the depletion of gas in Arbitrum's sequencer remains uncertain. Since its launch in May 2021, the sequencer has only been manually refuelled with Ether on four occasions.<\/p>\n\n\n\n
The recent event highlights the reliance of Arbitrum on a centralized control point. Offchain Labs, the company behind Arbitrum, has expressed its plans to decentralize the network's sequencer. <\/p>\n","post_title":"Arbitrum Faces Temporary Shutdown Due To Gas Shortage","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"arbitrum-faces-temporary-shutdown-due-to-gas-shortage","to_ping":"","pinged":"","post_modified":"2023-06-08 22:45:55","post_modified_gmt":"2023-06-08 12:45:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11929","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11770,"post_author":"13","post_date":"2023-05-18 00:31:26","post_date_gmt":"2023-05-17 14:31:26","post_content":"\n
\n
Judge Analisa Torres has declined a motion by the commission to seal essential documents in the legal tussle.  <\/li>\n\n\n\n
The price of the native XRP token has surged following the ruling.<\/li>\n<\/ul>\n\n\n\n
A US judge presiding over the case between Ripple and the Securities and Exchange Commission (SEC) has rejected a motion filed by the regulator to seal some of the essential documents.<\/p>\n\n\n\n
Judge Analisa Torres of the US District Court has disagreed<\/a> with SEC\u2019s move to seal Hinman\u2019s Speech documents, comprising emails, text messages, and expert reports, saying they were \u2018judicial documents\u2019 subject to a strong presumption of public access.<\/p>\n\n\n\n
As a recap, the SEC is suing<\/a> Ripple for selling unregistered securities. At the centre of the legal matter is a controversial speech by the former finance division director at the commission, William Hinman, who stated that Ether, the native cryptocurrency to the Ethereum blockchain, was not a security. The statement is believed to influence the much-awaited summary judgment considerably.<\/p>\n\n\n\n
The SEC\u2019s Position On The Matter<\/h2>\n\n\n\n
On December 22, the SEC filed a motion before Judge Torres to have all the documents containing Hinman\u2019s speech sealed from the public, saying they were irrelevant to the court\u2019s summary judgment. Further, the commission added that having the documents sealed preserved \u2018openness and candour\u2019, which the court has also rejected.<\/p>\n\n\n\n
\u2018\u2018Regardless of whether the court ultimately determines that the Hinman Speech Documents are admissible, or whether the court relies on the documents in ruling on the summary judgment motions, they are judicial documents subject to a strong presumption of public access because they are \u2018relevant to the performance of the judicial function and useful in the judicial process,'\" <\/em>read the ruling.<\/p>\n\n\n\n
XRP has added more than 5% in the past 24 hours following the development and was trading at $0.4487 at the time of writing. <\/p>\n","post_title":"Ripple Scores Major Victory In Case With The SEC As Court Denies Motion Filed By The Regulator","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-scores-major-victory-in-case-with-the-sec-as-court-denies-motion-filed-by-the-regulator","to_ping":"","pinged":"","post_modified":"2023-05-18 00:31:29","post_modified_gmt":"2023-05-17 14:31:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11770","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11728,"post_author":"12","post_date":"2023-05-15 16:06:43","post_date_gmt":"2023-05-15 06:06:43","post_content":"\n
A recent report<\/a> from Financial Times found that Worldcoin, a cryptocurrency project launched by OpenAI CEO Sam Altman, is close to securing $100M in funding. Those already backing the project include; a16z, Digital Currency Group and Coinbase Ventures; the new round of funding includes \u201cexisting and new investors.\u201d<\/em><\/p>\n\n\n\n
The project<\/a> was founded in 2020 by Sam Altman, Alex Blania, and Max Novendstern. With over 1,697,000 sign ups already, Worldcoin aims to build \"the world\u2019s largest identity and financial network as a public utility, giving ownership to everyone, [and] to create universal access to the global economy regardless of country or background, accelerating the transition to an economic future that welcomes and benefits every person on the planet.<\/em><\/p>\n\n\n\n
In March 2022, The Information\u00a0reported<\/a>\u00a0that the firm was looking to raise $100M\u00a0from investors through a private token sale, citing two people familiar with the situation. These sources stated that \u201cit\u2019s a bear market, a crypto winter. It\u2019s remarkable for a project in this space to get this amount of investment.\u201d<\/em><\/p>\n\n\n\n
Worldcoin Verification, Adoption, And Account Abstraction<\/h2>\n\n\n\nWorldcoin launched a gas-free crypto wallet in early May of 2023 called World App. This wallet relies on a system called World ID which uses zero-knowledge proofs to verify that you're a real human with either a phone number or iris scan. The gasless transactions rely upon account abstraction<\/a>, a popular protocol on Ethereum, under ERC-4337<\/a>.<\/p>\n\n\n\n
World App is also integrated with Uniswap, so users can swap currencies in the wallet.<\/p>\n\n\n\n
Worldcoin has been in its beta for some time now; within \"the next six weeks\" the blockchain protocol is expected to launch and with that, transactions will begin being recorded.<\/p>\n","post_title":"OpenAI's Sam Altman To Secure $100M For Worldcoin; Will Start Recording Transactions In 6 Weeks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openais-sam-altman-to-secure-100m-for-worldcoin-will-start-recording-transactions-in-6-weeks","to_ping":"","pinged":"","post_modified":"2023-05-15 16:06:46","post_modified_gmt":"2023-05-15 06:06:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11728","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11677,"post_author":"15","post_date":"2023-05-13 00:36:12","post_date_gmt":"2023-05-12 14:36:12","post_content":"\n
In the last 24 hours, $46.37 million worth of $PEPE has been deposited into exchanges. The meme coin has net deposits from 1,176 addresses amounting to $22.94 million. $PEPE has seen a significant drop of 31% in value, shrinking its market value to around $500 million, as reported <\/a>by ScopeProtocol.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/ScopeProtocol\/status\/1656916635134066688?s=20\n<\/div><\/figure>\n\n\n\n
$PEPE is a meme coin that has gained significant popularity in cryptocurrency. It has captured the attention of crypto enthusiasts and investors due to its unique and humorous nature.<\/p>\n\n\n\n
Despite its playful image, $PEPE has also experienced fluctuations in its market price. This volatility is characteristic of many memecoins, as trends, speculation, and the overall sentiment of the market can influence their prices.<\/p>\n\n\n\n
More On Memecoins<\/h2>\n\n\n\n
On May 11, 2023, @lookonchain<\/a>, a prominent cryptocurrency analyst, tweeted<\/a> about $PEPE and $LADYs (another meme coin). In his tweet, he praised how a cryptocurrency trader made huge profits trading meme coins. The trader bought $PEPE on Apr 18 and $LADYS before Elon Musk tweeted. In summary, his investment gained 36x on $PEPE and 35x on $LADYS. <\/p>\n\n\n\n
The meme coin phenomenon has emerged as a culture in the cryptocurrency space. We can notably refer to prominent meme coins like Dogecoin ($DOGE) and Shiba Inu ($SHIB). At the time of writing, these two cryptocurrencies ranked number 8 and number 15, respectively, according to Coinmarketcap. $DOGE and $SHIB have paved the way for other meme coins to gain traction in the crypto market.<\/p>\n","post_title":"Massive $PEPE Deposits Shake Crypto Exchanges; Market Value Plunges","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"massive-pepe-deposits-shake-crypto-exchanges-market-value-plunges","to_ping":"","pinged":"","post_modified":"2023-05-13 00:36:16","post_modified_gmt":"2023-05-12 14:36:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11677","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11401,"post_author":"13","post_date":"2023-05-02 11:29:00","post_date_gmt":"2023-05-02 01:29:00","post_content":"\n
\n
SUI farming will open for two days on BNB and TUSD pools beginning May 1.<\/li>\n\n\n\n
The token is expected to list afterward on Binance against BTC, USDT, TUSD, and BNB.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Binance has unveiled its 33rd project on Binance Luanchpoool, Sui, that allows users to farm SUI tokens using staked BNB and TrueUSD (TUSD).<\/p>\n\n\n\n
According to the announcement<\/a> on April 30, the farming of SUI tokens would run for 2 days beginning May 1. After that, the asset would be listed on Binance under trading pairs SUI\/BTC, SUI\/USDT, SUITUSD, and SUI\/BNB, subject to the relevant liquidity requirements.<\/p>\n\n\n\n
40 million SUI tokens are set for launchpool token rewards, 0.4% of the total token supply of 10 billion. So far, more than 9 million BNB tokens have been staked on the BNB pool, while the TUSD pool has more than 450 million staked TUSD.<\/p>\n\n\n\n
DPoS Layer-1 Blockchain<\/h2>\n\n\n\n
Sui<\/a> operates as a delegated proof of stake (DPoS) layer-1 blockchain<\/a> written on the Move programming language. The project has since raised $300 million in a series B funding round backed by Binance Labs and Coinbase - bringing its valuation to $2 billion.<\/p>\n\n\n\n
The project, hyped by its community of supporters as the \u2018Ethereum Killer\u2019<\/em>, uses a unique technology involving a parallel data model and execution engine to enhance transaction scaling. Besides, the blockchain employs an object-centric model for processing parallel transactions.<\/p>\n\n\n\n
The unveiling has pumped the price of Binance\u2019s native BNB token upwards despite a bearish market momentum. At press time, the token was changing hands for $333, representing a jump of 3% in the past day.<\/p>\n","post_title":"Binance Launches SUI Farming With Staked BNB And TrueUSD","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-launches-sui-farming-with-staked-bnb-and-trueusd","to_ping":"","pinged":"","post_modified":"2023-05-04 13:03:20","post_modified_gmt":"2023-05-04 03:03:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
According to Curve on Twitter<\/a>, the vulnerability was traced back to Vyper, an alternative third-party programming language for Ethereum smart contracts. Curve confirmed that other liquidity pools that do not use this language remain unaffected and secure.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/CurveFinance\/status\/1685693202722848768?s=20\n<\/div><\/figure>\n\n\n\n
Decurity, a decentralized finance security firm, revealed <\/a>that the NFT lending protocol JPEG'd suffered an $11 million cryptocurrency theft. JPEG'd was one of the first to detect the problem in its Curve pool.<\/p>\n\n\n\n
Exploit's Root Cause<\/h2>\n\n\n\n
Curve initially referred to the vulnerability as a typical \"re-entrance\" attack in a Tweet that has since been deleted. Re-entrancy attacks occur when a smart contract interacts with another, leading to incomplete execution.<\/p>\n\n\n\n
Re-entrancy vulnerabilities enable attackers to execute multiple calls in a single function, leading smart contracts to calculate incorrect balances. The $55 million 2016 DAO hack on Ethereum is a notable example.<\/p>\n\n\n\n
Curve initially responded to a Twitter account with a retracted statement, but later clarified their error. Curve confirmed that no wrongdoing occurred for projects integrating Vyper or its users.<\/p>\n\n\n\n
According to Vyper on Twitter, the language's compiler failed, affecting re-entry guards. These guards, included in the projects' code, are designed to protect against re-entry attacks but were ineffective.<\/p>\n\n\n\n
This prevented re-entry guards\u2014protections that were included in the projects\u2019 code and should guard against re-entry attacks\u2014from working, Meir Dolev said to Decrypt. Meir Dolev is the co-founder and CTO of cybersecurity firm Cyvers<\/p>\n","post_title":"DeFi Projects Suffer $24 Million Heist In Curve Pool Exploits","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"defi-projects-suffer-24-million-heist-in-curve-pool-exploits","to_ping":"","pinged":"","post_modified":"2023-08-03 15:25:13","post_modified_gmt":"2023-08-03 05:25:13","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12829","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":12708,"post_author":"21","post_date":"2023-07-25 23:28:55","post_date_gmt":"2023-07-25 13:28:55","post_content":"\n
\n
Worldcoin token, WLD, rose by four-digit percentages after launch and listing on Monday.<\/li>\n\n\n\n
Worldcoin promises biometric proof of identity amid the growing usage of AI.<\/li>\n<\/ul>\n\n\n\n
WLD, the token of the controversial identity-providing crypto project Worldcoin, launched<\/a> on Monday, July 24. Binance announced<\/a> it had listed the token, welcoming users to participate in new trading pairs WLD\/BTC and WLD\/USDT.<\/p>\n\n\n\n
The listing was a significant milestone for WLD as the token generated a frenzy afterwards, rising by four-digit percentages. Binance said that token withdrawal will begin on July 25, 2023, at 17:00 Eastern Eighth District Time. Other exchanges that listed the token were OKX, Huobi, and Bybit.\u00a0<\/p>\n\n\n\n
Worldcoin<\/a> plans to control almost 20% of tokens. The team will use the money for orb production, maintenance, and ecosystem development.<\/p>\n\n\n\n
Worldcoin to provide digital proof of identity<\/h2>\n\n\n\n
Worldcoin has been the centre of attention due to its promise of a biometric proof of identity. Sam Altman, CEO of OpenAI<\/a>, the firm behind ChatGPT, created the crypto project. Altman says World IDs are needed in this era of generative chatbots like ChatGPT.<\/p>\n\n\n\n
Worldcoin uses a device called \"The Orb\" to scan people's irises, generating a personally identifiable Worldcoin ID. The functionality has, however, been criticized for potential security and privacy violations. <\/p>\n\n\n\n
Altman believes Worldcoin would offer a reliable way to distinguish humans from bots while protecting privacy. It will also reduce fraud since only real people can own World IDs.<\/p>\n\n\n\n
Meanwhile, Altman is eyeing a global expansion, with the OpenAI CEO targeting up to 2 billion users. The project has already earned over 2 million users from the beta sign-up period.  <\/p>\n","post_title":"Binance Lists OpenAI-Affiliated Worldcoin Amid High Market Speculation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-lists-openai-affiliated-worldcoin-amid-high-market-speculation","to_ping":"","pinged":"","post_modified":"2023-07-25 23:29:00","post_modified_gmt":"2023-07-25 13:29:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12708","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":12524,"post_author":"1","post_date":"2023-07-15 23:36:16","post_date_gmt":"2023-07-15 13:36:16","post_content":"\n
\n
Ripple scored a landmark victory over the regulator on Thursday.<\/li>\n\n\n\n
The prolonged legal battle is expected to shape the regulations for digital assets.<\/li>\n<\/ul>\n\n\n\n
JP Morgan viewed the court ruling for Ripple as a significant victory. However, according to the investment banking giant, the regulations by enforcement are far from over. <\/p>\n\n\n\n
On Thursday, the US Southern District Court ruled partially in favor of Ripple, the FinTech company that issues XRP. The SEC and Ripple's 2-year legal battle concluded with the ruling that cryptocurrency issuance on exchanges is not an investment contract.<\/p>\n\n\n\n
\"This ruling is undoubtedly a milestone win for the industry. It provides legal clarity and defense around what does and does not constitute a security, and that overall outcome is in favor of what many in the industry had been arguing,\"<\/em> JP Morgan wrote<\/a> in the note seen by Coindesk.<\/p>\n\n\n\n
Following the landmark ruling, the price of cryptocurrencies soared as sentiment changed in the digital asset space. The cost of XRP rose by about 70%, while Bitcoin reached its highest level in more than a year.<\/p>\n\n\n\n
SEC's Next Step<\/h2>\n\n\n\n
However, according to JPMorgan, the ruling may not be the end of what has come to be termed as regulations by enforcement by the SEC, as the regulator could appeal the case or bring similar charges against other cryptocurrency companies.<\/p>\n\n\n\n
In June, Binance, the leading crypto exchange, faced 13 charges from the SEC, one being the sale of unauthorized securities. The regulator sued Coinbase, the largest US cryptocurrency exchange, for security law violations. <\/p>\n\n\n\n
At the start of the year, the SEC brought charges<\/a> against Gemini and Genesis for allegedly violating the securities regulations related to crypto lending. In February, it\u00a0 fined crypto exchange Kraken<\/a>\u00a0$30 million and ordered the platform to cease offering staking services to US users.<\/p>\n","post_title":"Ripple-SEC Ruling \u2018A Win\u2019 For Crypto Industry But Regulatory War Not Over, JP Morgan Says","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-sec-ruling-a-win-for-crypto-industry-but-regulatory-war-not-over-jp-morgan-says","to_ping":"","pinged":"","post_modified":"2023-07-15 23:36:25","post_modified_gmt":"2023-07-15 13:36:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11929,"post_author":"15","post_date":"2023-06-08 22:45:46","post_date_gmt":"2023-06-08 12:45:46","post_content":"\n
Arbitrum, a layer 2 blockchain, halts the process of transactions due to funding issues. With over $2.24 billion in deposits, the network experiences an hour-long standstill due to gas shortage. <\/p>\n\n\n\n
Developers on the Arbitrum Discord server<\/a> faced connectivity issues with the network's sequencer. The software is responsible for bundling and confirming transactions on the Ethereum network.<\/p>\n\n\n\n
According to on-chain records<\/a>, the sequencer exhausted its supply of Ether, the native cryptocurrency of Ethereum used for transaction fees<\/a>. Without sufficient Ether to cover the fees, the sequencer could not process transactions on Ethereum, resulting in Arbitrum coming to a halt.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
What's Next to Arbitrum?<\/h2>\n\n\n\n
Following an hour-long period of transaction processing failure, Arbitrum has resumed its operations. A wallet that had previously transferred funds to the Arbitrum multi-signature wallet sent 1.4 Ether to the sequence. This replenishment enabled the sequencer to resume sending transactions to Ethereum.<\/p>\n\n\n\n
The cause behind the depletion of gas in Arbitrum's sequencer remains uncertain. Since its launch in May 2021, the sequencer has only been manually refuelled with Ether on four occasions.<\/p>\n\n\n\n
The recent event highlights the reliance of Arbitrum on a centralized control point. Offchain Labs, the company behind Arbitrum, has expressed its plans to decentralize the network's sequencer. <\/p>\n","post_title":"Arbitrum Faces Temporary Shutdown Due To Gas Shortage","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"arbitrum-faces-temporary-shutdown-due-to-gas-shortage","to_ping":"","pinged":"","post_modified":"2023-06-08 22:45:55","post_modified_gmt":"2023-06-08 12:45:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11929","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11770,"post_author":"13","post_date":"2023-05-18 00:31:26","post_date_gmt":"2023-05-17 14:31:26","post_content":"\n
\n
Judge Analisa Torres has declined a motion by the commission to seal essential documents in the legal tussle.  <\/li>\n\n\n\n
The price of the native XRP token has surged following the ruling.<\/li>\n<\/ul>\n\n\n\n
A US judge presiding over the case between Ripple and the Securities and Exchange Commission (SEC) has rejected a motion filed by the regulator to seal some of the essential documents.<\/p>\n\n\n\n
Judge Analisa Torres of the US District Court has disagreed<\/a> with SEC\u2019s move to seal Hinman\u2019s Speech documents, comprising emails, text messages, and expert reports, saying they were \u2018judicial documents\u2019 subject to a strong presumption of public access.<\/p>\n\n\n\n
As a recap, the SEC is suing<\/a> Ripple for selling unregistered securities. At the centre of the legal matter is a controversial speech by the former finance division director at the commission, William Hinman, who stated that Ether, the native cryptocurrency to the Ethereum blockchain, was not a security. The statement is believed to influence the much-awaited summary judgment considerably.<\/p>\n\n\n\n
The SEC\u2019s Position On The Matter<\/h2>\n\n\n\n
On December 22, the SEC filed a motion before Judge Torres to have all the documents containing Hinman\u2019s speech sealed from the public, saying they were irrelevant to the court\u2019s summary judgment. Further, the commission added that having the documents sealed preserved \u2018openness and candour\u2019, which the court has also rejected.<\/p>\n\n\n\n
\u2018\u2018Regardless of whether the court ultimately determines that the Hinman Speech Documents are admissible, or whether the court relies on the documents in ruling on the summary judgment motions, they are judicial documents subject to a strong presumption of public access because they are \u2018relevant to the performance of the judicial function and useful in the judicial process,'\" <\/em>read the ruling.<\/p>\n\n\n\n
XRP has added more than 5% in the past 24 hours following the development and was trading at $0.4487 at the time of writing. <\/p>\n","post_title":"Ripple Scores Major Victory In Case With The SEC As Court Denies Motion Filed By The Regulator","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-scores-major-victory-in-case-with-the-sec-as-court-denies-motion-filed-by-the-regulator","to_ping":"","pinged":"","post_modified":"2023-05-18 00:31:29","post_modified_gmt":"2023-05-17 14:31:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11770","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11728,"post_author":"12","post_date":"2023-05-15 16:06:43","post_date_gmt":"2023-05-15 06:06:43","post_content":"\n
A recent report<\/a> from Financial Times found that Worldcoin, a cryptocurrency project launched by OpenAI CEO Sam Altman, is close to securing $100M in funding. Those already backing the project include; a16z, Digital Currency Group and Coinbase Ventures; the new round of funding includes \u201cexisting and new investors.\u201d<\/em><\/p>\n\n\n\n
The project<\/a> was founded in 2020 by Sam Altman, Alex Blania, and Max Novendstern. With over 1,697,000 sign ups already, Worldcoin aims to build \"the world\u2019s largest identity and financial network as a public utility, giving ownership to everyone, [and] to create universal access to the global economy regardless of country or background, accelerating the transition to an economic future that welcomes and benefits every person on the planet.<\/em><\/p>\n\n\n\n
In March 2022, The Information\u00a0reported<\/a>\u00a0that the firm was looking to raise $100M\u00a0from investors through a private token sale, citing two people familiar with the situation. These sources stated that \u201cit\u2019s a bear market, a crypto winter. It\u2019s remarkable for a project in this space to get this amount of investment.\u201d<\/em><\/p>\n\n\n\n
Worldcoin Verification, Adoption, And Account Abstraction<\/h2>\n\n\n\nWorldcoin launched a gas-free crypto wallet in early May of 2023 called World App. This wallet relies on a system called World ID which uses zero-knowledge proofs to verify that you're a real human with either a phone number or iris scan. The gasless transactions rely upon account abstraction<\/a>, a popular protocol on Ethereum, under ERC-4337<\/a>.<\/p>\n\n\n\n
World App is also integrated with Uniswap, so users can swap currencies in the wallet.<\/p>\n\n\n\n
Worldcoin has been in its beta for some time now; within \"the next six weeks\" the blockchain protocol is expected to launch and with that, transactions will begin being recorded.<\/p>\n","post_title":"OpenAI's Sam Altman To Secure $100M For Worldcoin; Will Start Recording Transactions In 6 Weeks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openais-sam-altman-to-secure-100m-for-worldcoin-will-start-recording-transactions-in-6-weeks","to_ping":"","pinged":"","post_modified":"2023-05-15 16:06:46","post_modified_gmt":"2023-05-15 06:06:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11728","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11677,"post_author":"15","post_date":"2023-05-13 00:36:12","post_date_gmt":"2023-05-12 14:36:12","post_content":"\n
In the last 24 hours, $46.37 million worth of $PEPE has been deposited into exchanges. The meme coin has net deposits from 1,176 addresses amounting to $22.94 million. $PEPE has seen a significant drop of 31% in value, shrinking its market value to around $500 million, as reported <\/a>by ScopeProtocol.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/ScopeProtocol\/status\/1656916635134066688?s=20\n<\/div><\/figure>\n\n\n\n
$PEPE is a meme coin that has gained significant popularity in cryptocurrency. It has captured the attention of crypto enthusiasts and investors due to its unique and humorous nature.<\/p>\n\n\n\n
Despite its playful image, $PEPE has also experienced fluctuations in its market price. This volatility is characteristic of many memecoins, as trends, speculation, and the overall sentiment of the market can influence their prices.<\/p>\n\n\n\n
More On Memecoins<\/h2>\n\n\n\n
On May 11, 2023, @lookonchain<\/a>, a prominent cryptocurrency analyst, tweeted<\/a> about $PEPE and $LADYs (another meme coin). In his tweet, he praised how a cryptocurrency trader made huge profits trading meme coins. The trader bought $PEPE on Apr 18 and $LADYS before Elon Musk tweeted. In summary, his investment gained 36x on $PEPE and 35x on $LADYS. <\/p>\n\n\n\n
The meme coin phenomenon has emerged as a culture in the cryptocurrency space. We can notably refer to prominent meme coins like Dogecoin ($DOGE) and Shiba Inu ($SHIB). At the time of writing, these two cryptocurrencies ranked number 8 and number 15, respectively, according to Coinmarketcap. $DOGE and $SHIB have paved the way for other meme coins to gain traction in the crypto market.<\/p>\n","post_title":"Massive $PEPE Deposits Shake Crypto Exchanges; Market Value Plunges","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"massive-pepe-deposits-shake-crypto-exchanges-market-value-plunges","to_ping":"","pinged":"","post_modified":"2023-05-13 00:36:16","post_modified_gmt":"2023-05-12 14:36:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11677","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11401,"post_author":"13","post_date":"2023-05-02 11:29:00","post_date_gmt":"2023-05-02 01:29:00","post_content":"\n
\n
SUI farming will open for two days on BNB and TUSD pools beginning May 1.<\/li>\n\n\n\n
The token is expected to list afterward on Binance against BTC, USDT, TUSD, and BNB.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Binance has unveiled its 33rd project on Binance Luanchpoool, Sui, that allows users to farm SUI tokens using staked BNB and TrueUSD (TUSD).<\/p>\n\n\n\n
According to the announcement<\/a> on April 30, the farming of SUI tokens would run for 2 days beginning May 1. After that, the asset would be listed on Binance under trading pairs SUI\/BTC, SUI\/USDT, SUITUSD, and SUI\/BNB, subject to the relevant liquidity requirements.<\/p>\n\n\n\n
40 million SUI tokens are set for launchpool token rewards, 0.4% of the total token supply of 10 billion. So far, more than 9 million BNB tokens have been staked on the BNB pool, while the TUSD pool has more than 450 million staked TUSD.<\/p>\n\n\n\n
DPoS Layer-1 Blockchain<\/h2>\n\n\n\n
Sui<\/a> operates as a delegated proof of stake (DPoS) layer-1 blockchain<\/a> written on the Move programming language. The project has since raised $300 million in a series B funding round backed by Binance Labs and Coinbase - bringing its valuation to $2 billion.<\/p>\n\n\n\n
The project, hyped by its community of supporters as the \u2018Ethereum Killer\u2019<\/em>, uses a unique technology involving a parallel data model and execution engine to enhance transaction scaling. Besides, the blockchain employs an object-centric model for processing parallel transactions.<\/p>\n\n\n\n
The unveiling has pumped the price of Binance\u2019s native BNB token upwards despite a bearish market momentum. At press time, the token was changing hands for $333, representing a jump of 3% in the past day.<\/p>\n","post_title":"Binance Launches SUI Farming With Staked BNB And TrueUSD","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-launches-sui-farming-with-staked-bnb-and-trueusd","to_ping":"","pinged":"","post_modified":"2023-05-04 13:03:20","post_modified_gmt":"2023-05-04 03:03:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
On Sunday, attackers targeted decentralized finance protocols, stealing over $24 million in cryptocurrency. The attackers exploited a vulnerability in Curve, the automated market maker platform's liquidity pools. <\/p>\n\n\n\n
According to Curve on Twitter<\/a>, the vulnerability was traced back to Vyper, an alternative third-party programming language for Ethereum smart contracts. Curve confirmed that other liquidity pools that do not use this language remain unaffected and secure.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/CurveFinance\/status\/1685693202722848768?s=20\n<\/div><\/figure>\n\n\n\n
Decurity, a decentralized finance security firm, revealed <\/a>that the NFT lending protocol JPEG'd suffered an $11 million cryptocurrency theft. JPEG'd was one of the first to detect the problem in its Curve pool.<\/p>\n\n\n\n
Exploit's Root Cause<\/h2>\n\n\n\n
Curve initially referred to the vulnerability as a typical \"re-entrance\" attack in a Tweet that has since been deleted. Re-entrancy attacks occur when a smart contract interacts with another, leading to incomplete execution.<\/p>\n\n\n\n
Re-entrancy vulnerabilities enable attackers to execute multiple calls in a single function, leading smart contracts to calculate incorrect balances. The $55 million 2016 DAO hack on Ethereum is a notable example.<\/p>\n\n\n\n
Curve initially responded to a Twitter account with a retracted statement, but later clarified their error. Curve confirmed that no wrongdoing occurred for projects integrating Vyper or its users.<\/p>\n\n\n\n
According to Vyper on Twitter, the language's compiler failed, affecting re-entry guards. These guards, included in the projects' code, are designed to protect against re-entry attacks but were ineffective.<\/p>\n\n\n\n
This prevented re-entry guards\u2014protections that were included in the projects\u2019 code and should guard against re-entry attacks\u2014from working, Meir Dolev said to Decrypt. Meir Dolev is the co-founder and CTO of cybersecurity firm Cyvers<\/p>\n","post_title":"DeFi Projects Suffer $24 Million Heist In Curve Pool Exploits","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"defi-projects-suffer-24-million-heist-in-curve-pool-exploits","to_ping":"","pinged":"","post_modified":"2023-08-03 15:25:13","post_modified_gmt":"2023-08-03 05:25:13","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12829","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":12708,"post_author":"21","post_date":"2023-07-25 23:28:55","post_date_gmt":"2023-07-25 13:28:55","post_content":"\n
\n
Worldcoin token, WLD, rose by four-digit percentages after launch and listing on Monday.<\/li>\n\n\n\n
Worldcoin promises biometric proof of identity amid the growing usage of AI.<\/li>\n<\/ul>\n\n\n\n
WLD, the token of the controversial identity-providing crypto project Worldcoin, launched<\/a> on Monday, July 24. Binance announced<\/a> it had listed the token, welcoming users to participate in new trading pairs WLD\/BTC and WLD\/USDT.<\/p>\n\n\n\n
The listing was a significant milestone for WLD as the token generated a frenzy afterwards, rising by four-digit percentages. Binance said that token withdrawal will begin on July 25, 2023, at 17:00 Eastern Eighth District Time. Other exchanges that listed the token were OKX, Huobi, and Bybit.\u00a0<\/p>\n\n\n\n
Worldcoin<\/a> plans to control almost 20% of tokens. The team will use the money for orb production, maintenance, and ecosystem development.<\/p>\n\n\n\n
Worldcoin to provide digital proof of identity<\/h2>\n\n\n\n
Worldcoin has been the centre of attention due to its promise of a biometric proof of identity. Sam Altman, CEO of OpenAI<\/a>, the firm behind ChatGPT, created the crypto project. Altman says World IDs are needed in this era of generative chatbots like ChatGPT.<\/p>\n\n\n\n
Worldcoin uses a device called \"The Orb\" to scan people's irises, generating a personally identifiable Worldcoin ID. The functionality has, however, been criticized for potential security and privacy violations. <\/p>\n\n\n\n
Altman believes Worldcoin would offer a reliable way to distinguish humans from bots while protecting privacy. It will also reduce fraud since only real people can own World IDs.<\/p>\n\n\n\n
Meanwhile, Altman is eyeing a global expansion, with the OpenAI CEO targeting up to 2 billion users. The project has already earned over 2 million users from the beta sign-up period.  <\/p>\n","post_title":"Binance Lists OpenAI-Affiliated Worldcoin Amid High Market Speculation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-lists-openai-affiliated-worldcoin-amid-high-market-speculation","to_ping":"","pinged":"","post_modified":"2023-07-25 23:29:00","post_modified_gmt":"2023-07-25 13:29:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12708","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":12524,"post_author":"1","post_date":"2023-07-15 23:36:16","post_date_gmt":"2023-07-15 13:36:16","post_content":"\n
\n
Ripple scored a landmark victory over the regulator on Thursday.<\/li>\n\n\n\n
The prolonged legal battle is expected to shape the regulations for digital assets.<\/li>\n<\/ul>\n\n\n\n
JP Morgan viewed the court ruling for Ripple as a significant victory. However, according to the investment banking giant, the regulations by enforcement are far from over. <\/p>\n\n\n\n
On Thursday, the US Southern District Court ruled partially in favor of Ripple, the FinTech company that issues XRP. The SEC and Ripple's 2-year legal battle concluded with the ruling that cryptocurrency issuance on exchanges is not an investment contract.<\/p>\n\n\n\n
\"This ruling is undoubtedly a milestone win for the industry. It provides legal clarity and defense around what does and does not constitute a security, and that overall outcome is in favor of what many in the industry had been arguing,\"<\/em> JP Morgan wrote<\/a> in the note seen by Coindesk.<\/p>\n\n\n\n
Following the landmark ruling, the price of cryptocurrencies soared as sentiment changed in the digital asset space. The cost of XRP rose by about 70%, while Bitcoin reached its highest level in more than a year.<\/p>\n\n\n\n
SEC's Next Step<\/h2>\n\n\n\n
However, according to JPMorgan, the ruling may not be the end of what has come to be termed as regulations by enforcement by the SEC, as the regulator could appeal the case or bring similar charges against other cryptocurrency companies.<\/p>\n\n\n\n
In June, Binance, the leading crypto exchange, faced 13 charges from the SEC, one being the sale of unauthorized securities. The regulator sued Coinbase, the largest US cryptocurrency exchange, for security law violations. <\/p>\n\n\n\n
At the start of the year, the SEC brought charges<\/a> against Gemini and Genesis for allegedly violating the securities regulations related to crypto lending. In February, it\u00a0 fined crypto exchange Kraken<\/a>\u00a0$30 million and ordered the platform to cease offering staking services to US users.<\/p>\n","post_title":"Ripple-SEC Ruling \u2018A Win\u2019 For Crypto Industry But Regulatory War Not Over, JP Morgan Says","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-sec-ruling-a-win-for-crypto-industry-but-regulatory-war-not-over-jp-morgan-says","to_ping":"","pinged":"","post_modified":"2023-07-15 23:36:25","post_modified_gmt":"2023-07-15 13:36:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11929,"post_author":"15","post_date":"2023-06-08 22:45:46","post_date_gmt":"2023-06-08 12:45:46","post_content":"\n
Arbitrum, a layer 2 blockchain, halts the process of transactions due to funding issues. With over $2.24 billion in deposits, the network experiences an hour-long standstill due to gas shortage. <\/p>\n\n\n\n
Developers on the Arbitrum Discord server<\/a> faced connectivity issues with the network's sequencer. The software is responsible for bundling and confirming transactions on the Ethereum network.<\/p>\n\n\n\n
According to on-chain records<\/a>, the sequencer exhausted its supply of Ether, the native cryptocurrency of Ethereum used for transaction fees<\/a>. Without sufficient Ether to cover the fees, the sequencer could not process transactions on Ethereum, resulting in Arbitrum coming to a halt.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
What's Next to Arbitrum?<\/h2>\n\n\n\n
Following an hour-long period of transaction processing failure, Arbitrum has resumed its operations. A wallet that had previously transferred funds to the Arbitrum multi-signature wallet sent 1.4 Ether to the sequence. This replenishment enabled the sequencer to resume sending transactions to Ethereum.<\/p>\n\n\n\n
The cause behind the depletion of gas in Arbitrum's sequencer remains uncertain. Since its launch in May 2021, the sequencer has only been manually refuelled with Ether on four occasions.<\/p>\n\n\n\n
The recent event highlights the reliance of Arbitrum on a centralized control point. Offchain Labs, the company behind Arbitrum, has expressed its plans to decentralize the network's sequencer. <\/p>\n","post_title":"Arbitrum Faces Temporary Shutdown Due To Gas Shortage","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"arbitrum-faces-temporary-shutdown-due-to-gas-shortage","to_ping":"","pinged":"","post_modified":"2023-06-08 22:45:55","post_modified_gmt":"2023-06-08 12:45:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11929","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11770,"post_author":"13","post_date":"2023-05-18 00:31:26","post_date_gmt":"2023-05-17 14:31:26","post_content":"\n
\n
Judge Analisa Torres has declined a motion by the commission to seal essential documents in the legal tussle.  <\/li>\n\n\n\n
The price of the native XRP token has surged following the ruling.<\/li>\n<\/ul>\n\n\n\n
A US judge presiding over the case between Ripple and the Securities and Exchange Commission (SEC) has rejected a motion filed by the regulator to seal some of the essential documents.<\/p>\n\n\n\n
Judge Analisa Torres of the US District Court has disagreed<\/a> with SEC\u2019s move to seal Hinman\u2019s Speech documents, comprising emails, text messages, and expert reports, saying they were \u2018judicial documents\u2019 subject to a strong presumption of public access.<\/p>\n\n\n\n
As a recap, the SEC is suing<\/a> Ripple for selling unregistered securities. At the centre of the legal matter is a controversial speech by the former finance division director at the commission, William Hinman, who stated that Ether, the native cryptocurrency to the Ethereum blockchain, was not a security. The statement is believed to influence the much-awaited summary judgment considerably.<\/p>\n\n\n\n
The SEC\u2019s Position On The Matter<\/h2>\n\n\n\n
On December 22, the SEC filed a motion before Judge Torres to have all the documents containing Hinman\u2019s speech sealed from the public, saying they were irrelevant to the court\u2019s summary judgment. Further, the commission added that having the documents sealed preserved \u2018openness and candour\u2019, which the court has also rejected.<\/p>\n\n\n\n
\u2018\u2018Regardless of whether the court ultimately determines that the Hinman Speech Documents are admissible, or whether the court relies on the documents in ruling on the summary judgment motions, they are judicial documents subject to a strong presumption of public access because they are \u2018relevant to the performance of the judicial function and useful in the judicial process,'\" <\/em>read the ruling.<\/p>\n\n\n\n
XRP has added more than 5% in the past 24 hours following the development and was trading at $0.4487 at the time of writing. <\/p>\n","post_title":"Ripple Scores Major Victory In Case With The SEC As Court Denies Motion Filed By The Regulator","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-scores-major-victory-in-case-with-the-sec-as-court-denies-motion-filed-by-the-regulator","to_ping":"","pinged":"","post_modified":"2023-05-18 00:31:29","post_modified_gmt":"2023-05-17 14:31:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11770","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11728,"post_author":"12","post_date":"2023-05-15 16:06:43","post_date_gmt":"2023-05-15 06:06:43","post_content":"\n
A recent report<\/a> from Financial Times found that Worldcoin, a cryptocurrency project launched by OpenAI CEO Sam Altman, is close to securing $100M in funding. Those already backing the project include; a16z, Digital Currency Group and Coinbase Ventures; the new round of funding includes \u201cexisting and new investors.\u201d<\/em><\/p>\n\n\n\n
The project<\/a> was founded in 2020 by Sam Altman, Alex Blania, and Max Novendstern. With over 1,697,000 sign ups already, Worldcoin aims to build \"the world\u2019s largest identity and financial network as a public utility, giving ownership to everyone, [and] to create universal access to the global economy regardless of country or background, accelerating the transition to an economic future that welcomes and benefits every person on the planet.<\/em><\/p>\n\n\n\n
In March 2022, The Information\u00a0reported<\/a>\u00a0that the firm was looking to raise $100M\u00a0from investors through a private token sale, citing two people familiar with the situation. These sources stated that \u201cit\u2019s a bear market, a crypto winter. It\u2019s remarkable for a project in this space to get this amount of investment.\u201d<\/em><\/p>\n\n\n\n
Worldcoin Verification, Adoption, And Account Abstraction<\/h2>\n\n\n\nWorldcoin launched a gas-free crypto wallet in early May of 2023 called World App. This wallet relies on a system called World ID which uses zero-knowledge proofs to verify that you're a real human with either a phone number or iris scan. The gasless transactions rely upon account abstraction<\/a>, a popular protocol on Ethereum, under ERC-4337<\/a>.<\/p>\n\n\n\n
World App is also integrated with Uniswap, so users can swap currencies in the wallet.<\/p>\n\n\n\n
Worldcoin has been in its beta for some time now; within \"the next six weeks\" the blockchain protocol is expected to launch and with that, transactions will begin being recorded.<\/p>\n","post_title":"OpenAI's Sam Altman To Secure $100M For Worldcoin; Will Start Recording Transactions In 6 Weeks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openais-sam-altman-to-secure-100m-for-worldcoin-will-start-recording-transactions-in-6-weeks","to_ping":"","pinged":"","post_modified":"2023-05-15 16:06:46","post_modified_gmt":"2023-05-15 06:06:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11728","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11677,"post_author":"15","post_date":"2023-05-13 00:36:12","post_date_gmt":"2023-05-12 14:36:12","post_content":"\n
In the last 24 hours, $46.37 million worth of $PEPE has been deposited into exchanges. The meme coin has net deposits from 1,176 addresses amounting to $22.94 million. $PEPE has seen a significant drop of 31% in value, shrinking its market value to around $500 million, as reported <\/a>by ScopeProtocol.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/ScopeProtocol\/status\/1656916635134066688?s=20\n<\/div><\/figure>\n\n\n\n
$PEPE is a meme coin that has gained significant popularity in cryptocurrency. It has captured the attention of crypto enthusiasts and investors due to its unique and humorous nature.<\/p>\n\n\n\n
Despite its playful image, $PEPE has also experienced fluctuations in its market price. This volatility is characteristic of many memecoins, as trends, speculation, and the overall sentiment of the market can influence their prices.<\/p>\n\n\n\n
More On Memecoins<\/h2>\n\n\n\n
On May 11, 2023, @lookonchain<\/a>, a prominent cryptocurrency analyst, tweeted<\/a> about $PEPE and $LADYs (another meme coin). In his tweet, he praised how a cryptocurrency trader made huge profits trading meme coins. The trader bought $PEPE on Apr 18 and $LADYS before Elon Musk tweeted. In summary, his investment gained 36x on $PEPE and 35x on $LADYS. <\/p>\n\n\n\n
The meme coin phenomenon has emerged as a culture in the cryptocurrency space. We can notably refer to prominent meme coins like Dogecoin ($DOGE) and Shiba Inu ($SHIB). At the time of writing, these two cryptocurrencies ranked number 8 and number 15, respectively, according to Coinmarketcap. $DOGE and $SHIB have paved the way for other meme coins to gain traction in the crypto market.<\/p>\n","post_title":"Massive $PEPE Deposits Shake Crypto Exchanges; Market Value Plunges","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"massive-pepe-deposits-shake-crypto-exchanges-market-value-plunges","to_ping":"","pinged":"","post_modified":"2023-05-13 00:36:16","post_modified_gmt":"2023-05-12 14:36:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11677","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11401,"post_author":"13","post_date":"2023-05-02 11:29:00","post_date_gmt":"2023-05-02 01:29:00","post_content":"\n
\n
SUI farming will open for two days on BNB and TUSD pools beginning May 1.<\/li>\n\n\n\n
The token is expected to list afterward on Binance against BTC, USDT, TUSD, and BNB.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Binance has unveiled its 33rd project on Binance Luanchpoool, Sui, that allows users to farm SUI tokens using staked BNB and TrueUSD (TUSD).<\/p>\n\n\n\n
According to the announcement<\/a> on April 30, the farming of SUI tokens would run for 2 days beginning May 1. After that, the asset would be listed on Binance under trading pairs SUI\/BTC, SUI\/USDT, SUITUSD, and SUI\/BNB, subject to the relevant liquidity requirements.<\/p>\n\n\n\n
40 million SUI tokens are set for launchpool token rewards, 0.4% of the total token supply of 10 billion. So far, more than 9 million BNB tokens have been staked on the BNB pool, while the TUSD pool has more than 450 million staked TUSD.<\/p>\n\n\n\n
DPoS Layer-1 Blockchain<\/h2>\n\n\n\n
Sui<\/a> operates as a delegated proof of stake (DPoS) layer-1 blockchain<\/a> written on the Move programming language. The project has since raised $300 million in a series B funding round backed by Binance Labs and Coinbase - bringing its valuation to $2 billion.<\/p>\n\n\n\n
The project, hyped by its community of supporters as the \u2018Ethereum Killer\u2019<\/em>, uses a unique technology involving a parallel data model and execution engine to enhance transaction scaling. Besides, the blockchain employs an object-centric model for processing parallel transactions.<\/p>\n\n\n\n
The unveiling has pumped the price of Binance\u2019s native BNB token upwards despite a bearish market momentum. At press time, the token was changing hands for $333, representing a jump of 3% in the past day.<\/p>\n","post_title":"Binance Launches SUI Farming With Staked BNB And TrueUSD","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-launches-sui-farming-with-staked-bnb-and-trueusd","to_ping":"","pinged":"","post_modified":"2023-05-04 13:03:20","post_modified_gmt":"2023-05-04 03:03:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
Shibarium has been a success so far. About 22 million transactions were performed over its four-month testing period. Investors hold big expectations of the ecosystem tokens due to the Shibarium benefits. <\/p>\n","post_title":"Shiba Inu\u2019s Shibarium Bridge Goes Fully Functional After A Shaky Start","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"shiba-inus-shibarium-bridge-goes-fully-functional-after-a-shaky-start","to_ping":"","pinged":"","post_modified":"2023-08-29 23:52:56","post_modified_gmt":"2023-08-29 13:52:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13144","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":12829,"post_author":"15","post_date":"2023-08-03 15:25:08","post_date_gmt":"2023-08-03 05:25:08","post_content":"\n
On Sunday, attackers targeted decentralized finance protocols, stealing over $24 million in cryptocurrency. The attackers exploited a vulnerability in Curve, the automated market maker platform's liquidity pools. <\/p>\n\n\n\n
According to Curve on Twitter<\/a>, the vulnerability was traced back to Vyper, an alternative third-party programming language for Ethereum smart contracts. Curve confirmed that other liquidity pools that do not use this language remain unaffected and secure.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/CurveFinance\/status\/1685693202722848768?s=20\n<\/div><\/figure>\n\n\n\n
Decurity, a decentralized finance security firm, revealed <\/a>that the NFT lending protocol JPEG'd suffered an $11 million cryptocurrency theft. JPEG'd was one of the first to detect the problem in its Curve pool.<\/p>\n\n\n\n
Exploit's Root Cause<\/h2>\n\n\n\n
Curve initially referred to the vulnerability as a typical \"re-entrance\" attack in a Tweet that has since been deleted. Re-entrancy attacks occur when a smart contract interacts with another, leading to incomplete execution.<\/p>\n\n\n\n
Re-entrancy vulnerabilities enable attackers to execute multiple calls in a single function, leading smart contracts to calculate incorrect balances. The $55 million 2016 DAO hack on Ethereum is a notable example.<\/p>\n\n\n\n
Curve initially responded to a Twitter account with a retracted statement, but later clarified their error. Curve confirmed that no wrongdoing occurred for projects integrating Vyper or its users.<\/p>\n\n\n\n
According to Vyper on Twitter, the language's compiler failed, affecting re-entry guards. These guards, included in the projects' code, are designed to protect against re-entry attacks but were ineffective.<\/p>\n\n\n\n
This prevented re-entry guards\u2014protections that were included in the projects\u2019 code and should guard against re-entry attacks\u2014from working, Meir Dolev said to Decrypt. Meir Dolev is the co-founder and CTO of cybersecurity firm Cyvers<\/p>\n","post_title":"DeFi Projects Suffer $24 Million Heist In Curve Pool Exploits","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"defi-projects-suffer-24-million-heist-in-curve-pool-exploits","to_ping":"","pinged":"","post_modified":"2023-08-03 15:25:13","post_modified_gmt":"2023-08-03 05:25:13","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12829","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":12708,"post_author":"21","post_date":"2023-07-25 23:28:55","post_date_gmt":"2023-07-25 13:28:55","post_content":"\n
\n
Worldcoin token, WLD, rose by four-digit percentages after launch and listing on Monday.<\/li>\n\n\n\n
Worldcoin promises biometric proof of identity amid the growing usage of AI.<\/li>\n<\/ul>\n\n\n\n
WLD, the token of the controversial identity-providing crypto project Worldcoin, launched<\/a> on Monday, July 24. Binance announced<\/a> it had listed the token, welcoming users to participate in new trading pairs WLD\/BTC and WLD\/USDT.<\/p>\n\n\n\n
The listing was a significant milestone for WLD as the token generated a frenzy afterwards, rising by four-digit percentages. Binance said that token withdrawal will begin on July 25, 2023, at 17:00 Eastern Eighth District Time. Other exchanges that listed the token were OKX, Huobi, and Bybit.\u00a0<\/p>\n\n\n\n
Worldcoin<\/a> plans to control almost 20% of tokens. The team will use the money for orb production, maintenance, and ecosystem development.<\/p>\n\n\n\n
Worldcoin to provide digital proof of identity<\/h2>\n\n\n\n
Worldcoin has been the centre of attention due to its promise of a biometric proof of identity. Sam Altman, CEO of OpenAI<\/a>, the firm behind ChatGPT, created the crypto project. Altman says World IDs are needed in this era of generative chatbots like ChatGPT.<\/p>\n\n\n\n
Worldcoin uses a device called \"The Orb\" to scan people's irises, generating a personally identifiable Worldcoin ID. The functionality has, however, been criticized for potential security and privacy violations. <\/p>\n\n\n\n
Altman believes Worldcoin would offer a reliable way to distinguish humans from bots while protecting privacy. It will also reduce fraud since only real people can own World IDs.<\/p>\n\n\n\n
Meanwhile, Altman is eyeing a global expansion, with the OpenAI CEO targeting up to 2 billion users. The project has already earned over 2 million users from the beta sign-up period.  <\/p>\n","post_title":"Binance Lists OpenAI-Affiliated Worldcoin Amid High Market Speculation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-lists-openai-affiliated-worldcoin-amid-high-market-speculation","to_ping":"","pinged":"","post_modified":"2023-07-25 23:29:00","post_modified_gmt":"2023-07-25 13:29:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12708","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":12524,"post_author":"1","post_date":"2023-07-15 23:36:16","post_date_gmt":"2023-07-15 13:36:16","post_content":"\n
\n
Ripple scored a landmark victory over the regulator on Thursday.<\/li>\n\n\n\n
The prolonged legal battle is expected to shape the regulations for digital assets.<\/li>\n<\/ul>\n\n\n\n
JP Morgan viewed the court ruling for Ripple as a significant victory. However, according to the investment banking giant, the regulations by enforcement are far from over. <\/p>\n\n\n\n
On Thursday, the US Southern District Court ruled partially in favor of Ripple, the FinTech company that issues XRP. The SEC and Ripple's 2-year legal battle concluded with the ruling that cryptocurrency issuance on exchanges is not an investment contract.<\/p>\n\n\n\n
\"This ruling is undoubtedly a milestone win for the industry. It provides legal clarity and defense around what does and does not constitute a security, and that overall outcome is in favor of what many in the industry had been arguing,\"<\/em> JP Morgan wrote<\/a> in the note seen by Coindesk.<\/p>\n\n\n\n
Following the landmark ruling, the price of cryptocurrencies soared as sentiment changed in the digital asset space. The cost of XRP rose by about 70%, while Bitcoin reached its highest level in more than a year.<\/p>\n\n\n\n
SEC's Next Step<\/h2>\n\n\n\n
However, according to JPMorgan, the ruling may not be the end of what has come to be termed as regulations by enforcement by the SEC, as the regulator could appeal the case or bring similar charges against other cryptocurrency companies.<\/p>\n\n\n\n
In June, Binance, the leading crypto exchange, faced 13 charges from the SEC, one being the sale of unauthorized securities. The regulator sued Coinbase, the largest US cryptocurrency exchange, for security law violations. <\/p>\n\n\n\n
At the start of the year, the SEC brought charges<\/a> against Gemini and Genesis for allegedly violating the securities regulations related to crypto lending. In February, it\u00a0 fined crypto exchange Kraken<\/a>\u00a0$30 million and ordered the platform to cease offering staking services to US users.<\/p>\n","post_title":"Ripple-SEC Ruling \u2018A Win\u2019 For Crypto Industry But Regulatory War Not Over, JP Morgan Says","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-sec-ruling-a-win-for-crypto-industry-but-regulatory-war-not-over-jp-morgan-says","to_ping":"","pinged":"","post_modified":"2023-07-15 23:36:25","post_modified_gmt":"2023-07-15 13:36:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11929,"post_author":"15","post_date":"2023-06-08 22:45:46","post_date_gmt":"2023-06-08 12:45:46","post_content":"\n
Arbitrum, a layer 2 blockchain, halts the process of transactions due to funding issues. With over $2.24 billion in deposits, the network experiences an hour-long standstill due to gas shortage. <\/p>\n\n\n\n
Developers on the Arbitrum Discord server<\/a> faced connectivity issues with the network's sequencer. The software is responsible for bundling and confirming transactions on the Ethereum network.<\/p>\n\n\n\n
According to on-chain records<\/a>, the sequencer exhausted its supply of Ether, the native cryptocurrency of Ethereum used for transaction fees<\/a>. Without sufficient Ether to cover the fees, the sequencer could not process transactions on Ethereum, resulting in Arbitrum coming to a halt.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
What's Next to Arbitrum?<\/h2>\n\n\n\n
Following an hour-long period of transaction processing failure, Arbitrum has resumed its operations. A wallet that had previously transferred funds to the Arbitrum multi-signature wallet sent 1.4 Ether to the sequence. This replenishment enabled the sequencer to resume sending transactions to Ethereum.<\/p>\n\n\n\n
The cause behind the depletion of gas in Arbitrum's sequencer remains uncertain. Since its launch in May 2021, the sequencer has only been manually refuelled with Ether on four occasions.<\/p>\n\n\n\n
The recent event highlights the reliance of Arbitrum on a centralized control point. Offchain Labs, the company behind Arbitrum, has expressed its plans to decentralize the network's sequencer. <\/p>\n","post_title":"Arbitrum Faces Temporary Shutdown Due To Gas Shortage","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"arbitrum-faces-temporary-shutdown-due-to-gas-shortage","to_ping":"","pinged":"","post_modified":"2023-06-08 22:45:55","post_modified_gmt":"2023-06-08 12:45:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11929","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11770,"post_author":"13","post_date":"2023-05-18 00:31:26","post_date_gmt":"2023-05-17 14:31:26","post_content":"\n
\n
Judge Analisa Torres has declined a motion by the commission to seal essential documents in the legal tussle.  <\/li>\n\n\n\n
The price of the native XRP token has surged following the ruling.<\/li>\n<\/ul>\n\n\n\n
A US judge presiding over the case between Ripple and the Securities and Exchange Commission (SEC) has rejected a motion filed by the regulator to seal some of the essential documents.<\/p>\n\n\n\n
Judge Analisa Torres of the US District Court has disagreed<\/a> with SEC\u2019s move to seal Hinman\u2019s Speech documents, comprising emails, text messages, and expert reports, saying they were \u2018judicial documents\u2019 subject to a strong presumption of public access.<\/p>\n\n\n\n
As a recap, the SEC is suing<\/a> Ripple for selling unregistered securities. At the centre of the legal matter is a controversial speech by the former finance division director at the commission, William Hinman, who stated that Ether, the native cryptocurrency to the Ethereum blockchain, was not a security. The statement is believed to influence the much-awaited summary judgment considerably.<\/p>\n\n\n\n
The SEC\u2019s Position On The Matter<\/h2>\n\n\n\n
On December 22, the SEC filed a motion before Judge Torres to have all the documents containing Hinman\u2019s speech sealed from the public, saying they were irrelevant to the court\u2019s summary judgment. Further, the commission added that having the documents sealed preserved \u2018openness and candour\u2019, which the court has also rejected.<\/p>\n\n\n\n
\u2018\u2018Regardless of whether the court ultimately determines that the Hinman Speech Documents are admissible, or whether the court relies on the documents in ruling on the summary judgment motions, they are judicial documents subject to a strong presumption of public access because they are \u2018relevant to the performance of the judicial function and useful in the judicial process,'\" <\/em>read the ruling.<\/p>\n\n\n\n
XRP has added more than 5% in the past 24 hours following the development and was trading at $0.4487 at the time of writing. <\/p>\n","post_title":"Ripple Scores Major Victory In Case With The SEC As Court Denies Motion Filed By The Regulator","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-scores-major-victory-in-case-with-the-sec-as-court-denies-motion-filed-by-the-regulator","to_ping":"","pinged":"","post_modified":"2023-05-18 00:31:29","post_modified_gmt":"2023-05-17 14:31:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11770","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11728,"post_author":"12","post_date":"2023-05-15 16:06:43","post_date_gmt":"2023-05-15 06:06:43","post_content":"\n
A recent report<\/a> from Financial Times found that Worldcoin, a cryptocurrency project launched by OpenAI CEO Sam Altman, is close to securing $100M in funding. Those already backing the project include; a16z, Digital Currency Group and Coinbase Ventures; the new round of funding includes \u201cexisting and new investors.\u201d<\/em><\/p>\n\n\n\n
The project<\/a> was founded in 2020 by Sam Altman, Alex Blania, and Max Novendstern. With over 1,697,000 sign ups already, Worldcoin aims to build \"the world\u2019s largest identity and financial network as a public utility, giving ownership to everyone, [and] to create universal access to the global economy regardless of country or background, accelerating the transition to an economic future that welcomes and benefits every person on the planet.<\/em><\/p>\n\n\n\n
In March 2022, The Information\u00a0reported<\/a>\u00a0that the firm was looking to raise $100M\u00a0from investors through a private token sale, citing two people familiar with the situation. These sources stated that \u201cit\u2019s a bear market, a crypto winter. It\u2019s remarkable for a project in this space to get this amount of investment.\u201d<\/em><\/p>\n\n\n\n
Worldcoin Verification, Adoption, And Account Abstraction<\/h2>\n\n\n\nWorldcoin launched a gas-free crypto wallet in early May of 2023 called World App. This wallet relies on a system called World ID which uses zero-knowledge proofs to verify that you're a real human with either a phone number or iris scan. The gasless transactions rely upon account abstraction<\/a>, a popular protocol on Ethereum, under ERC-4337<\/a>.<\/p>\n\n\n\n
World App is also integrated with Uniswap, so users can swap currencies in the wallet.<\/p>\n\n\n\n
Worldcoin has been in its beta for some time now; within \"the next six weeks\" the blockchain protocol is expected to launch and with that, transactions will begin being recorded.<\/p>\n","post_title":"OpenAI's Sam Altman To Secure $100M For Worldcoin; Will Start Recording Transactions In 6 Weeks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openais-sam-altman-to-secure-100m-for-worldcoin-will-start-recording-transactions-in-6-weeks","to_ping":"","pinged":"","post_modified":"2023-05-15 16:06:46","post_modified_gmt":"2023-05-15 06:06:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11728","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11677,"post_author":"15","post_date":"2023-05-13 00:36:12","post_date_gmt":"2023-05-12 14:36:12","post_content":"\n
In the last 24 hours, $46.37 million worth of $PEPE has been deposited into exchanges. The meme coin has net deposits from 1,176 addresses amounting to $22.94 million. $PEPE has seen a significant drop of 31% in value, shrinking its market value to around $500 million, as reported <\/a>by ScopeProtocol.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/ScopeProtocol\/status\/1656916635134066688?s=20\n<\/div><\/figure>\n\n\n\n
$PEPE is a meme coin that has gained significant popularity in cryptocurrency. It has captured the attention of crypto enthusiasts and investors due to its unique and humorous nature.<\/p>\n\n\n\n
Despite its playful image, $PEPE has also experienced fluctuations in its market price. This volatility is characteristic of many memecoins, as trends, speculation, and the overall sentiment of the market can influence their prices.<\/p>\n\n\n\n
More On Memecoins<\/h2>\n\n\n\n
On May 11, 2023, @lookonchain<\/a>, a prominent cryptocurrency analyst, tweeted<\/a> about $PEPE and $LADYs (another meme coin). In his tweet, he praised how a cryptocurrency trader made huge profits trading meme coins. The trader bought $PEPE on Apr 18 and $LADYS before Elon Musk tweeted. In summary, his investment gained 36x on $PEPE and 35x on $LADYS. <\/p>\n\n\n\n
The meme coin phenomenon has emerged as a culture in the cryptocurrency space. We can notably refer to prominent meme coins like Dogecoin ($DOGE) and Shiba Inu ($SHIB). At the time of writing, these two cryptocurrencies ranked number 8 and number 15, respectively, according to Coinmarketcap. $DOGE and $SHIB have paved the way for other meme coins to gain traction in the crypto market.<\/p>\n","post_title":"Massive $PEPE Deposits Shake Crypto Exchanges; Market Value Plunges","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"massive-pepe-deposits-shake-crypto-exchanges-market-value-plunges","to_ping":"","pinged":"","post_modified":"2023-05-13 00:36:16","post_modified_gmt":"2023-05-12 14:36:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11677","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11401,"post_author":"13","post_date":"2023-05-02 11:29:00","post_date_gmt":"2023-05-02 01:29:00","post_content":"\n
\n
SUI farming will open for two days on BNB and TUSD pools beginning May 1.<\/li>\n\n\n\n
The token is expected to list afterward on Binance against BTC, USDT, TUSD, and BNB.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Binance has unveiled its 33rd project on Binance Luanchpoool, Sui, that allows users to farm SUI tokens using staked BNB and TrueUSD (TUSD).<\/p>\n\n\n\n
According to the announcement<\/a> on April 30, the farming of SUI tokens would run for 2 days beginning May 1. After that, the asset would be listed on Binance under trading pairs SUI\/BTC, SUI\/USDT, SUITUSD, and SUI\/BNB, subject to the relevant liquidity requirements.<\/p>\n\n\n\n
40 million SUI tokens are set for launchpool token rewards, 0.4% of the total token supply of 10 billion. So far, more than 9 million BNB tokens have been staked on the BNB pool, while the TUSD pool has more than 450 million staked TUSD.<\/p>\n\n\n\n
DPoS Layer-1 Blockchain<\/h2>\n\n\n\n
Sui<\/a> operates as a delegated proof of stake (DPoS) layer-1 blockchain<\/a> written on the Move programming language. The project has since raised $300 million in a series B funding round backed by Binance Labs and Coinbase - bringing its valuation to $2 billion.<\/p>\n\n\n\n
The project, hyped by its community of supporters as the \u2018Ethereum Killer\u2019<\/em>, uses a unique technology involving a parallel data model and execution engine to enhance transaction scaling. Besides, the blockchain employs an object-centric model for processing parallel transactions.<\/p>\n\n\n\n
The unveiling has pumped the price of Binance\u2019s native BNB token upwards despite a bearish market momentum. At press time, the token was changing hands for $333, representing a jump of 3% in the past day.<\/p>\n","post_title":"Binance Launches SUI Farming With Staked BNB And TrueUSD","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-launches-sui-farming-with-staked-bnb-and-trueusd","to_ping":"","pinged":"","post_modified":"2023-05-04 13:03:20","post_modified_gmt":"2023-05-04 03:03:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 … 10 Next

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Altcoins

Ripple Challenges SEC’s Bid For Appeal In Legal Battle

September 3, 2023

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

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December 19, 2024

Artificial Intelligence

Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

August 15, 2024

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Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

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\n
With the integration, Shibarium will address Ethereum\u2019s high gas fees<\/a> and slow transactions. The scalability increases the usability of the Shiba Inu token, helping it play a greater role in the blockchain ecosystem. <\/p>\n\n\n\n
Shibarium has been a success so far. About 22 million transactions were performed over its four-month testing period. Investors hold big expectations of the ecosystem tokens due to the Shibarium benefits. <\/p>\n","post_title":"Shiba Inu\u2019s Shibarium Bridge Goes Fully Functional After A Shaky Start","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"shiba-inus-shibarium-bridge-goes-fully-functional-after-a-shaky-start","to_ping":"","pinged":"","post_modified":"2023-08-29 23:52:56","post_modified_gmt":"2023-08-29 13:52:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13144","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":12829,"post_author":"15","post_date":"2023-08-03 15:25:08","post_date_gmt":"2023-08-03 05:25:08","post_content":"\n
On Sunday, attackers targeted decentralized finance protocols, stealing over $24 million in cryptocurrency. The attackers exploited a vulnerability in Curve, the automated market maker platform's liquidity pools. <\/p>\n\n\n\n
According to Curve on Twitter<\/a>, the vulnerability was traced back to Vyper, an alternative third-party programming language for Ethereum smart contracts. Curve confirmed that other liquidity pools that do not use this language remain unaffected and secure.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/CurveFinance\/status\/1685693202722848768?s=20\n<\/div><\/figure>\n\n\n\n
Decurity, a decentralized finance security firm, revealed <\/a>that the NFT lending protocol JPEG'd suffered an $11 million cryptocurrency theft. JPEG'd was one of the first to detect the problem in its Curve pool.<\/p>\n\n\n\n
Exploit's Root Cause<\/h2>\n\n\n\n
Curve initially referred to the vulnerability as a typical \"re-entrance\" attack in a Tweet that has since been deleted. Re-entrancy attacks occur when a smart contract interacts with another, leading to incomplete execution.<\/p>\n\n\n\n
Re-entrancy vulnerabilities enable attackers to execute multiple calls in a single function, leading smart contracts to calculate incorrect balances. The $55 million 2016 DAO hack on Ethereum is a notable example.<\/p>\n\n\n\n
Curve initially responded to a Twitter account with a retracted statement, but later clarified their error. Curve confirmed that no wrongdoing occurred for projects integrating Vyper or its users.<\/p>\n\n\n\n
According to Vyper on Twitter, the language's compiler failed, affecting re-entry guards. These guards, included in the projects' code, are designed to protect against re-entry attacks but were ineffective.<\/p>\n\n\n\n
This prevented re-entry guards\u2014protections that were included in the projects\u2019 code and should guard against re-entry attacks\u2014from working, Meir Dolev said to Decrypt. Meir Dolev is the co-founder and CTO of cybersecurity firm Cyvers<\/p>\n","post_title":"DeFi Projects Suffer $24 Million Heist In Curve Pool Exploits","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"defi-projects-suffer-24-million-heist-in-curve-pool-exploits","to_ping":"","pinged":"","post_modified":"2023-08-03 15:25:13","post_modified_gmt":"2023-08-03 05:25:13","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12829","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":12708,"post_author":"21","post_date":"2023-07-25 23:28:55","post_date_gmt":"2023-07-25 13:28:55","post_content":"\n
\n
Worldcoin token, WLD, rose by four-digit percentages after launch and listing on Monday.<\/li>\n\n\n\n
Worldcoin promises biometric proof of identity amid the growing usage of AI.<\/li>\n<\/ul>\n\n\n\n
WLD, the token of the controversial identity-providing crypto project Worldcoin, launched<\/a> on Monday, July 24. Binance announced<\/a> it had listed the token, welcoming users to participate in new trading pairs WLD\/BTC and WLD\/USDT.<\/p>\n\n\n\n
The listing was a significant milestone for WLD as the token generated a frenzy afterwards, rising by four-digit percentages. Binance said that token withdrawal will begin on July 25, 2023, at 17:00 Eastern Eighth District Time. Other exchanges that listed the token were OKX, Huobi, and Bybit.\u00a0<\/p>\n\n\n\n
Worldcoin<\/a> plans to control almost 20% of tokens. The team will use the money for orb production, maintenance, and ecosystem development.<\/p>\n\n\n\n
Worldcoin to provide digital proof of identity<\/h2>\n\n\n\n
Worldcoin has been the centre of attention due to its promise of a biometric proof of identity. Sam Altman, CEO of OpenAI<\/a>, the firm behind ChatGPT, created the crypto project. Altman says World IDs are needed in this era of generative chatbots like ChatGPT.<\/p>\n\n\n\n
Worldcoin uses a device called \"The Orb\" to scan people's irises, generating a personally identifiable Worldcoin ID. The functionality has, however, been criticized for potential security and privacy violations. <\/p>\n\n\n\n
Altman believes Worldcoin would offer a reliable way to distinguish humans from bots while protecting privacy. It will also reduce fraud since only real people can own World IDs.<\/p>\n\n\n\n
Meanwhile, Altman is eyeing a global expansion, with the OpenAI CEO targeting up to 2 billion users. The project has already earned over 2 million users from the beta sign-up period.  <\/p>\n","post_title":"Binance Lists OpenAI-Affiliated Worldcoin Amid High Market Speculation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-lists-openai-affiliated-worldcoin-amid-high-market-speculation","to_ping":"","pinged":"","post_modified":"2023-07-25 23:29:00","post_modified_gmt":"2023-07-25 13:29:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12708","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":12524,"post_author":"1","post_date":"2023-07-15 23:36:16","post_date_gmt":"2023-07-15 13:36:16","post_content":"\n
\n
Ripple scored a landmark victory over the regulator on Thursday.<\/li>\n\n\n\n
The prolonged legal battle is expected to shape the regulations for digital assets.<\/li>\n<\/ul>\n\n\n\n
JP Morgan viewed the court ruling for Ripple as a significant victory. However, according to the investment banking giant, the regulations by enforcement are far from over. <\/p>\n\n\n\n
On Thursday, the US Southern District Court ruled partially in favor of Ripple, the FinTech company that issues XRP. The SEC and Ripple's 2-year legal battle concluded with the ruling that cryptocurrency issuance on exchanges is not an investment contract.<\/p>\n\n\n\n
\"This ruling is undoubtedly a milestone win for the industry. It provides legal clarity and defense around what does and does not constitute a security, and that overall outcome is in favor of what many in the industry had been arguing,\"<\/em> JP Morgan wrote<\/a> in the note seen by Coindesk.<\/p>\n\n\n\n
Following the landmark ruling, the price of cryptocurrencies soared as sentiment changed in the digital asset space. The cost of XRP rose by about 70%, while Bitcoin reached its highest level in more than a year.<\/p>\n\n\n\n
SEC's Next Step<\/h2>\n\n\n\n
However, according to JPMorgan, the ruling may not be the end of what has come to be termed as regulations by enforcement by the SEC, as the regulator could appeal the case or bring similar charges against other cryptocurrency companies.<\/p>\n\n\n\n
In June, Binance, the leading crypto exchange, faced 13 charges from the SEC, one being the sale of unauthorized securities. The regulator sued Coinbase, the largest US cryptocurrency exchange, for security law violations. <\/p>\n\n\n\n
At the start of the year, the SEC brought charges<\/a> against Gemini and Genesis for allegedly violating the securities regulations related to crypto lending. In February, it\u00a0 fined crypto exchange Kraken<\/a>\u00a0$30 million and ordered the platform to cease offering staking services to US users.<\/p>\n","post_title":"Ripple-SEC Ruling \u2018A Win\u2019 For Crypto Industry But Regulatory War Not Over, JP Morgan Says","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-sec-ruling-a-win-for-crypto-industry-but-regulatory-war-not-over-jp-morgan-says","to_ping":"","pinged":"","post_modified":"2023-07-15 23:36:25","post_modified_gmt":"2023-07-15 13:36:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11929,"post_author":"15","post_date":"2023-06-08 22:45:46","post_date_gmt":"2023-06-08 12:45:46","post_content":"\n
Arbitrum, a layer 2 blockchain, halts the process of transactions due to funding issues. With over $2.24 billion in deposits, the network experiences an hour-long standstill due to gas shortage. <\/p>\n\n\n\n
Developers on the Arbitrum Discord server<\/a> faced connectivity issues with the network's sequencer. The software is responsible for bundling and confirming transactions on the Ethereum network.<\/p>\n\n\n\n
According to on-chain records<\/a>, the sequencer exhausted its supply of Ether, the native cryptocurrency of Ethereum used for transaction fees<\/a>. Without sufficient Ether to cover the fees, the sequencer could not process transactions on Ethereum, resulting in Arbitrum coming to a halt.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
What's Next to Arbitrum?<\/h2>\n\n\n\n
Following an hour-long period of transaction processing failure, Arbitrum has resumed its operations. A wallet that had previously transferred funds to the Arbitrum multi-signature wallet sent 1.4 Ether to the sequence. This replenishment enabled the sequencer to resume sending transactions to Ethereum.<\/p>\n\n\n\n
The cause behind the depletion of gas in Arbitrum's sequencer remains uncertain. Since its launch in May 2021, the sequencer has only been manually refuelled with Ether on four occasions.<\/p>\n\n\n\n
The recent event highlights the reliance of Arbitrum on a centralized control point. Offchain Labs, the company behind Arbitrum, has expressed its plans to decentralize the network's sequencer. <\/p>\n","post_title":"Arbitrum Faces Temporary Shutdown Due To Gas Shortage","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"arbitrum-faces-temporary-shutdown-due-to-gas-shortage","to_ping":"","pinged":"","post_modified":"2023-06-08 22:45:55","post_modified_gmt":"2023-06-08 12:45:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11929","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11770,"post_author":"13","post_date":"2023-05-18 00:31:26","post_date_gmt":"2023-05-17 14:31:26","post_content":"\n
\n
Judge Analisa Torres has declined a motion by the commission to seal essential documents in the legal tussle.  <\/li>\n\n\n\n
The price of the native XRP token has surged following the ruling.<\/li>\n<\/ul>\n\n\n\n
A US judge presiding over the case between Ripple and the Securities and Exchange Commission (SEC) has rejected a motion filed by the regulator to seal some of the essential documents.<\/p>\n\n\n\n
Judge Analisa Torres of the US District Court has disagreed<\/a> with SEC\u2019s move to seal Hinman\u2019s Speech documents, comprising emails, text messages, and expert reports, saying they were \u2018judicial documents\u2019 subject to a strong presumption of public access.<\/p>\n\n\n\n
As a recap, the SEC is suing<\/a> Ripple for selling unregistered securities. At the centre of the legal matter is a controversial speech by the former finance division director at the commission, William Hinman, who stated that Ether, the native cryptocurrency to the Ethereum blockchain, was not a security. The statement is believed to influence the much-awaited summary judgment considerably.<\/p>\n\n\n\n
The SEC\u2019s Position On The Matter<\/h2>\n\n\n\n
On December 22, the SEC filed a motion before Judge Torres to have all the documents containing Hinman\u2019s speech sealed from the public, saying they were irrelevant to the court\u2019s summary judgment. Further, the commission added that having the documents sealed preserved \u2018openness and candour\u2019, which the court has also rejected.<\/p>\n\n\n\n
\u2018\u2018Regardless of whether the court ultimately determines that the Hinman Speech Documents are admissible, or whether the court relies on the documents in ruling on the summary judgment motions, they are judicial documents subject to a strong presumption of public access because they are \u2018relevant to the performance of the judicial function and useful in the judicial process,'\" <\/em>read the ruling.<\/p>\n\n\n\n
XRP has added more than 5% in the past 24 hours following the development and was trading at $0.4487 at the time of writing. <\/p>\n","post_title":"Ripple Scores Major Victory In Case With The SEC As Court Denies Motion Filed By The Regulator","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-scores-major-victory-in-case-with-the-sec-as-court-denies-motion-filed-by-the-regulator","to_ping":"","pinged":"","post_modified":"2023-05-18 00:31:29","post_modified_gmt":"2023-05-17 14:31:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11770","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11728,"post_author":"12","post_date":"2023-05-15 16:06:43","post_date_gmt":"2023-05-15 06:06:43","post_content":"\n
A recent report<\/a> from Financial Times found that Worldcoin, a cryptocurrency project launched by OpenAI CEO Sam Altman, is close to securing $100M in funding. Those already backing the project include; a16z, Digital Currency Group and Coinbase Ventures; the new round of funding includes \u201cexisting and new investors.\u201d<\/em><\/p>\n\n\n\n
The project<\/a> was founded in 2020 by Sam Altman, Alex Blania, and Max Novendstern. With over 1,697,000 sign ups already, Worldcoin aims to build \"the world\u2019s largest identity and financial network as a public utility, giving ownership to everyone, [and] to create universal access to the global economy regardless of country or background, accelerating the transition to an economic future that welcomes and benefits every person on the planet.<\/em><\/p>\n\n\n\n
In March 2022, The Information\u00a0reported<\/a>\u00a0that the firm was looking to raise $100M\u00a0from investors through a private token sale, citing two people familiar with the situation. These sources stated that \u201cit\u2019s a bear market, a crypto winter. It\u2019s remarkable for a project in this space to get this amount of investment.\u201d<\/em><\/p>\n\n\n\n
Worldcoin Verification, Adoption, And Account Abstraction<\/h2>\n\n\n\nWorldcoin launched a gas-free crypto wallet in early May of 2023 called World App. This wallet relies on a system called World ID which uses zero-knowledge proofs to verify that you're a real human with either a phone number or iris scan. The gasless transactions rely upon account abstraction<\/a>, a popular protocol on Ethereum, under ERC-4337<\/a>.<\/p>\n\n\n\n
World App is also integrated with Uniswap, so users can swap currencies in the wallet.<\/p>\n\n\n\n
Worldcoin has been in its beta for some time now; within \"the next six weeks\" the blockchain protocol is expected to launch and with that, transactions will begin being recorded.<\/p>\n","post_title":"OpenAI's Sam Altman To Secure $100M For Worldcoin; Will Start Recording Transactions In 6 Weeks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openais-sam-altman-to-secure-100m-for-worldcoin-will-start-recording-transactions-in-6-weeks","to_ping":"","pinged":"","post_modified":"2023-05-15 16:06:46","post_modified_gmt":"2023-05-15 06:06:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11728","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11677,"post_author":"15","post_date":"2023-05-13 00:36:12","post_date_gmt":"2023-05-12 14:36:12","post_content":"\n
In the last 24 hours, $46.37 million worth of $PEPE has been deposited into exchanges. The meme coin has net deposits from 1,176 addresses amounting to $22.94 million. $PEPE has seen a significant drop of 31% in value, shrinking its market value to around $500 million, as reported <\/a>by ScopeProtocol.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/ScopeProtocol\/status\/1656916635134066688?s=20\n<\/div><\/figure>\n\n\n\n
$PEPE is a meme coin that has gained significant popularity in cryptocurrency. It has captured the attention of crypto enthusiasts and investors due to its unique and humorous nature.<\/p>\n\n\n\n
Despite its playful image, $PEPE has also experienced fluctuations in its market price. This volatility is characteristic of many memecoins, as trends, speculation, and the overall sentiment of the market can influence their prices.<\/p>\n\n\n\n
More On Memecoins<\/h2>\n\n\n\n
On May 11, 2023, @lookonchain<\/a>, a prominent cryptocurrency analyst, tweeted<\/a> about $PEPE and $LADYs (another meme coin). In his tweet, he praised how a cryptocurrency trader made huge profits trading meme coins. The trader bought $PEPE on Apr 18 and $LADYS before Elon Musk tweeted. In summary, his investment gained 36x on $PEPE and 35x on $LADYS. <\/p>\n\n\n\n
The meme coin phenomenon has emerged as a culture in the cryptocurrency space. We can notably refer to prominent meme coins like Dogecoin ($DOGE) and Shiba Inu ($SHIB). At the time of writing, these two cryptocurrencies ranked number 8 and number 15, respectively, according to Coinmarketcap. $DOGE and $SHIB have paved the way for other meme coins to gain traction in the crypto market.<\/p>\n","post_title":"Massive $PEPE Deposits Shake Crypto Exchanges; Market Value Plunges","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"massive-pepe-deposits-shake-crypto-exchanges-market-value-plunges","to_ping":"","pinged":"","post_modified":"2023-05-13 00:36:16","post_modified_gmt":"2023-05-12 14:36:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11677","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11401,"post_author":"13","post_date":"2023-05-02 11:29:00","post_date_gmt":"2023-05-02 01:29:00","post_content":"\n
\n
SUI farming will open for two days on BNB and TUSD pools beginning May 1.<\/li>\n\n\n\n
The token is expected to list afterward on Binance against BTC, USDT, TUSD, and BNB.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Binance has unveiled its 33rd project on Binance Luanchpoool, Sui, that allows users to farm SUI tokens using staked BNB and TrueUSD (TUSD).<\/p>\n\n\n\n
According to the announcement<\/a> on April 30, the farming of SUI tokens would run for 2 days beginning May 1. After that, the asset would be listed on Binance under trading pairs SUI\/BTC, SUI\/USDT, SUITUSD, and SUI\/BNB, subject to the relevant liquidity requirements.<\/p>\n\n\n\n
40 million SUI tokens are set for launchpool token rewards, 0.4% of the total token supply of 10 billion. So far, more than 9 million BNB tokens have been staked on the BNB pool, while the TUSD pool has more than 450 million staked TUSD.<\/p>\n\n\n\n
DPoS Layer-1 Blockchain<\/h2>\n\n\n\n
Sui<\/a> operates as a delegated proof of stake (DPoS) layer-1 blockchain<\/a> written on the Move programming language. The project has since raised $300 million in a series B funding round backed by Binance Labs and Coinbase - bringing its valuation to $2 billion.<\/p>\n\n\n\n
The project, hyped by its community of supporters as the \u2018Ethereum Killer\u2019<\/em>, uses a unique technology involving a parallel data model and execution engine to enhance transaction scaling. Besides, the blockchain employs an object-centric model for processing parallel transactions.<\/p>\n\n\n\n
The unveiling has pumped the price of Binance\u2019s native BNB token upwards despite a bearish market momentum. At press time, the token was changing hands for $333, representing a jump of 3% in the past day.<\/p>\n","post_title":"Binance Launches SUI Farming With Staked BNB And TrueUSD","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-launches-sui-farming-with-staked-bnb-and-trueusd","to_ping":"","pinged":"","post_modified":"2023-05-04 13:03:20","post_modified_gmt":"2023-05-04 03:03:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 … 10 Next

Most Read

Altcoins

Ripple Challenges SEC’s Bid For Appeal In Legal Battle

September 3, 2023

Artificial Intelligence

Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

Artificial Intelligence

Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

August 15, 2024

Banking

Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

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Type your email here

Follow The Distributed

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ADVERTISEMENT

\n
Shibarium is expected to usher in a new era for Shiba Inu, with broader applications in gaming, DeFi, and the metaverse. The layer-2 network<\/a> will have seamless interaction with the primary Layer-1 Ethereum blockchain. <\/p>\n\n\n\n
With the integration, Shibarium will address Ethereum\u2019s high gas fees<\/a> and slow transactions. The scalability increases the usability of the Shiba Inu token, helping it play a greater role in the blockchain ecosystem. <\/p>\n\n\n\n
Shibarium has been a success so far. About 22 million transactions were performed over its four-month testing period. Investors hold big expectations of the ecosystem tokens due to the Shibarium benefits. <\/p>\n","post_title":"Shiba Inu\u2019s Shibarium Bridge Goes Fully Functional After A Shaky Start","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"shiba-inus-shibarium-bridge-goes-fully-functional-after-a-shaky-start","to_ping":"","pinged":"","post_modified":"2023-08-29 23:52:56","post_modified_gmt":"2023-08-29 13:52:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13144","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":12829,"post_author":"15","post_date":"2023-08-03 15:25:08","post_date_gmt":"2023-08-03 05:25:08","post_content":"\n
On Sunday, attackers targeted decentralized finance protocols, stealing over $24 million in cryptocurrency. The attackers exploited a vulnerability in Curve, the automated market maker platform's liquidity pools. <\/p>\n\n\n\n
According to Curve on Twitter<\/a>, the vulnerability was traced back to Vyper, an alternative third-party programming language for Ethereum smart contracts. Curve confirmed that other liquidity pools that do not use this language remain unaffected and secure.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/CurveFinance\/status\/1685693202722848768?s=20\n<\/div><\/figure>\n\n\n\n
Decurity, a decentralized finance security firm, revealed <\/a>that the NFT lending protocol JPEG'd suffered an $11 million cryptocurrency theft. JPEG'd was one of the first to detect the problem in its Curve pool.<\/p>\n\n\n\n
Exploit's Root Cause<\/h2>\n\n\n\n
Curve initially referred to the vulnerability as a typical \"re-entrance\" attack in a Tweet that has since been deleted. Re-entrancy attacks occur when a smart contract interacts with another, leading to incomplete execution.<\/p>\n\n\n\n
Re-entrancy vulnerabilities enable attackers to execute multiple calls in a single function, leading smart contracts to calculate incorrect balances. The $55 million 2016 DAO hack on Ethereum is a notable example.<\/p>\n\n\n\n
Curve initially responded to a Twitter account with a retracted statement, but later clarified their error. Curve confirmed that no wrongdoing occurred for projects integrating Vyper or its users.<\/p>\n\n\n\n
According to Vyper on Twitter, the language's compiler failed, affecting re-entry guards. These guards, included in the projects' code, are designed to protect against re-entry attacks but were ineffective.<\/p>\n\n\n\n
This prevented re-entry guards\u2014protections that were included in the projects\u2019 code and should guard against re-entry attacks\u2014from working, Meir Dolev said to Decrypt. Meir Dolev is the co-founder and CTO of cybersecurity firm Cyvers<\/p>\n","post_title":"DeFi Projects Suffer $24 Million Heist In Curve Pool Exploits","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"defi-projects-suffer-24-million-heist-in-curve-pool-exploits","to_ping":"","pinged":"","post_modified":"2023-08-03 15:25:13","post_modified_gmt":"2023-08-03 05:25:13","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12829","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":12708,"post_author":"21","post_date":"2023-07-25 23:28:55","post_date_gmt":"2023-07-25 13:28:55","post_content":"\n
\n
Worldcoin token, WLD, rose by four-digit percentages after launch and listing on Monday.<\/li>\n\n\n\n
Worldcoin promises biometric proof of identity amid the growing usage of AI.<\/li>\n<\/ul>\n\n\n\n
WLD, the token of the controversial identity-providing crypto project Worldcoin, launched<\/a> on Monday, July 24. Binance announced<\/a> it had listed the token, welcoming users to participate in new trading pairs WLD\/BTC and WLD\/USDT.<\/p>\n\n\n\n
The listing was a significant milestone for WLD as the token generated a frenzy afterwards, rising by four-digit percentages. Binance said that token withdrawal will begin on July 25, 2023, at 17:00 Eastern Eighth District Time. Other exchanges that listed the token were OKX, Huobi, and Bybit.\u00a0<\/p>\n\n\n\n
Worldcoin<\/a> plans to control almost 20% of tokens. The team will use the money for orb production, maintenance, and ecosystem development.<\/p>\n\n\n\n
Worldcoin to provide digital proof of identity<\/h2>\n\n\n\n
Worldcoin has been the centre of attention due to its promise of a biometric proof of identity. Sam Altman, CEO of OpenAI<\/a>, the firm behind ChatGPT, created the crypto project. Altman says World IDs are needed in this era of generative chatbots like ChatGPT.<\/p>\n\n\n\n
Worldcoin uses a device called \"The Orb\" to scan people's irises, generating a personally identifiable Worldcoin ID. The functionality has, however, been criticized for potential security and privacy violations. <\/p>\n\n\n\n
Altman believes Worldcoin would offer a reliable way to distinguish humans from bots while protecting privacy. It will also reduce fraud since only real people can own World IDs.<\/p>\n\n\n\n
Meanwhile, Altman is eyeing a global expansion, with the OpenAI CEO targeting up to 2 billion users. The project has already earned over 2 million users from the beta sign-up period.  <\/p>\n","post_title":"Binance Lists OpenAI-Affiliated Worldcoin Amid High Market Speculation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-lists-openai-affiliated-worldcoin-amid-high-market-speculation","to_ping":"","pinged":"","post_modified":"2023-07-25 23:29:00","post_modified_gmt":"2023-07-25 13:29:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12708","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":12524,"post_author":"1","post_date":"2023-07-15 23:36:16","post_date_gmt":"2023-07-15 13:36:16","post_content":"\n
\n
Ripple scored a landmark victory over the regulator on Thursday.<\/li>\n\n\n\n
The prolonged legal battle is expected to shape the regulations for digital assets.<\/li>\n<\/ul>\n\n\n\n
JP Morgan viewed the court ruling for Ripple as a significant victory. However, according to the investment banking giant, the regulations by enforcement are far from over. <\/p>\n\n\n\n
On Thursday, the US Southern District Court ruled partially in favor of Ripple, the FinTech company that issues XRP. The SEC and Ripple's 2-year legal battle concluded with the ruling that cryptocurrency issuance on exchanges is not an investment contract.<\/p>\n\n\n\n
\"This ruling is undoubtedly a milestone win for the industry. It provides legal clarity and defense around what does and does not constitute a security, and that overall outcome is in favor of what many in the industry had been arguing,\"<\/em> JP Morgan wrote<\/a> in the note seen by Coindesk.<\/p>\n\n\n\n
Following the landmark ruling, the price of cryptocurrencies soared as sentiment changed in the digital asset space. The cost of XRP rose by about 70%, while Bitcoin reached its highest level in more than a year.<\/p>\n\n\n\n
SEC's Next Step<\/h2>\n\n\n\n
However, according to JPMorgan, the ruling may not be the end of what has come to be termed as regulations by enforcement by the SEC, as the regulator could appeal the case or bring similar charges against other cryptocurrency companies.<\/p>\n\n\n\n
In June, Binance, the leading crypto exchange, faced 13 charges from the SEC, one being the sale of unauthorized securities. The regulator sued Coinbase, the largest US cryptocurrency exchange, for security law violations. <\/p>\n\n\n\n
At the start of the year, the SEC brought charges<\/a> against Gemini and Genesis for allegedly violating the securities regulations related to crypto lending. In February, it\u00a0 fined crypto exchange Kraken<\/a>\u00a0$30 million and ordered the platform to cease offering staking services to US users.<\/p>\n","post_title":"Ripple-SEC Ruling \u2018A Win\u2019 For Crypto Industry But Regulatory War Not Over, JP Morgan Says","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-sec-ruling-a-win-for-crypto-industry-but-regulatory-war-not-over-jp-morgan-says","to_ping":"","pinged":"","post_modified":"2023-07-15 23:36:25","post_modified_gmt":"2023-07-15 13:36:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11929,"post_author":"15","post_date":"2023-06-08 22:45:46","post_date_gmt":"2023-06-08 12:45:46","post_content":"\n
Arbitrum, a layer 2 blockchain, halts the process of transactions due to funding issues. With over $2.24 billion in deposits, the network experiences an hour-long standstill due to gas shortage. <\/p>\n\n\n\n
Developers on the Arbitrum Discord server<\/a> faced connectivity issues with the network's sequencer. The software is responsible for bundling and confirming transactions on the Ethereum network.<\/p>\n\n\n\n
According to on-chain records<\/a>, the sequencer exhausted its supply of Ether, the native cryptocurrency of Ethereum used for transaction fees<\/a>. Without sufficient Ether to cover the fees, the sequencer could not process transactions on Ethereum, resulting in Arbitrum coming to a halt.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
What's Next to Arbitrum?<\/h2>\n\n\n\n
Following an hour-long period of transaction processing failure, Arbitrum has resumed its operations. A wallet that had previously transferred funds to the Arbitrum multi-signature wallet sent 1.4 Ether to the sequence. This replenishment enabled the sequencer to resume sending transactions to Ethereum.<\/p>\n\n\n\n
The cause behind the depletion of gas in Arbitrum's sequencer remains uncertain. Since its launch in May 2021, the sequencer has only been manually refuelled with Ether on four occasions.<\/p>\n\n\n\n
The recent event highlights the reliance of Arbitrum on a centralized control point. Offchain Labs, the company behind Arbitrum, has expressed its plans to decentralize the network's sequencer. <\/p>\n","post_title":"Arbitrum Faces Temporary Shutdown Due To Gas Shortage","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"arbitrum-faces-temporary-shutdown-due-to-gas-shortage","to_ping":"","pinged":"","post_modified":"2023-06-08 22:45:55","post_modified_gmt":"2023-06-08 12:45:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11929","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11770,"post_author":"13","post_date":"2023-05-18 00:31:26","post_date_gmt":"2023-05-17 14:31:26","post_content":"\n
\n
Judge Analisa Torres has declined a motion by the commission to seal essential documents in the legal tussle.  <\/li>\n\n\n\n
The price of the native XRP token has surged following the ruling.<\/li>\n<\/ul>\n\n\n\n
A US judge presiding over the case between Ripple and the Securities and Exchange Commission (SEC) has rejected a motion filed by the regulator to seal some of the essential documents.<\/p>\n\n\n\n
Judge Analisa Torres of the US District Court has disagreed<\/a> with SEC\u2019s move to seal Hinman\u2019s Speech documents, comprising emails, text messages, and expert reports, saying they were \u2018judicial documents\u2019 subject to a strong presumption of public access.<\/p>\n\n\n\n
As a recap, the SEC is suing<\/a> Ripple for selling unregistered securities. At the centre of the legal matter is a controversial speech by the former finance division director at the commission, William Hinman, who stated that Ether, the native cryptocurrency to the Ethereum blockchain, was not a security. The statement is believed to influence the much-awaited summary judgment considerably.<\/p>\n\n\n\n
The SEC\u2019s Position On The Matter<\/h2>\n\n\n\n
On December 22, the SEC filed a motion before Judge Torres to have all the documents containing Hinman\u2019s speech sealed from the public, saying they were irrelevant to the court\u2019s summary judgment. Further, the commission added that having the documents sealed preserved \u2018openness and candour\u2019, which the court has also rejected.<\/p>\n\n\n\n
\u2018\u2018Regardless of whether the court ultimately determines that the Hinman Speech Documents are admissible, or whether the court relies on the documents in ruling on the summary judgment motions, they are judicial documents subject to a strong presumption of public access because they are \u2018relevant to the performance of the judicial function and useful in the judicial process,'\" <\/em>read the ruling.<\/p>\n\n\n\n
XRP has added more than 5% in the past 24 hours following the development and was trading at $0.4487 at the time of writing. <\/p>\n","post_title":"Ripple Scores Major Victory In Case With The SEC As Court Denies Motion Filed By The Regulator","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-scores-major-victory-in-case-with-the-sec-as-court-denies-motion-filed-by-the-regulator","to_ping":"","pinged":"","post_modified":"2023-05-18 00:31:29","post_modified_gmt":"2023-05-17 14:31:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11770","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11728,"post_author":"12","post_date":"2023-05-15 16:06:43","post_date_gmt":"2023-05-15 06:06:43","post_content":"\n
A recent report<\/a> from Financial Times found that Worldcoin, a cryptocurrency project launched by OpenAI CEO Sam Altman, is close to securing $100M in funding. Those already backing the project include; a16z, Digital Currency Group and Coinbase Ventures; the new round of funding includes \u201cexisting and new investors.\u201d<\/em><\/p>\n\n\n\n
The project<\/a> was founded in 2020 by Sam Altman, Alex Blania, and Max Novendstern. With over 1,697,000 sign ups already, Worldcoin aims to build \"the world\u2019s largest identity and financial network as a public utility, giving ownership to everyone, [and] to create universal access to the global economy regardless of country or background, accelerating the transition to an economic future that welcomes and benefits every person on the planet.<\/em><\/p>\n\n\n\n
In March 2022, The Information\u00a0reported<\/a>\u00a0that the firm was looking to raise $100M\u00a0from investors through a private token sale, citing two people familiar with the situation. These sources stated that \u201cit\u2019s a bear market, a crypto winter. It\u2019s remarkable for a project in this space to get this amount of investment.\u201d<\/em><\/p>\n\n\n\n
Worldcoin Verification, Adoption, And Account Abstraction<\/h2>\n\n\n\nWorldcoin launched a gas-free crypto wallet in early May of 2023 called World App. This wallet relies on a system called World ID which uses zero-knowledge proofs to verify that you're a real human with either a phone number or iris scan. The gasless transactions rely upon account abstraction<\/a>, a popular protocol on Ethereum, under ERC-4337<\/a>.<\/p>\n\n\n\n
World App is also integrated with Uniswap, so users can swap currencies in the wallet.<\/p>\n\n\n\n
Worldcoin has been in its beta for some time now; within \"the next six weeks\" the blockchain protocol is expected to launch and with that, transactions will begin being recorded.<\/p>\n","post_title":"OpenAI's Sam Altman To Secure $100M For Worldcoin; Will Start Recording Transactions In 6 Weeks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openais-sam-altman-to-secure-100m-for-worldcoin-will-start-recording-transactions-in-6-weeks","to_ping":"","pinged":"","post_modified":"2023-05-15 16:06:46","post_modified_gmt":"2023-05-15 06:06:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11728","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11677,"post_author":"15","post_date":"2023-05-13 00:36:12","post_date_gmt":"2023-05-12 14:36:12","post_content":"\n
In the last 24 hours, $46.37 million worth of $PEPE has been deposited into exchanges. The meme coin has net deposits from 1,176 addresses amounting to $22.94 million. $PEPE has seen a significant drop of 31% in value, shrinking its market value to around $500 million, as reported <\/a>by ScopeProtocol.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/ScopeProtocol\/status\/1656916635134066688?s=20\n<\/div><\/figure>\n\n\n\n
$PEPE is a meme coin that has gained significant popularity in cryptocurrency. It has captured the attention of crypto enthusiasts and investors due to its unique and humorous nature.<\/p>\n\n\n\n
Despite its playful image, $PEPE has also experienced fluctuations in its market price. This volatility is characteristic of many memecoins, as trends, speculation, and the overall sentiment of the market can influence their prices.<\/p>\n\n\n\n
More On Memecoins<\/h2>\n\n\n\n
On May 11, 2023, @lookonchain<\/a>, a prominent cryptocurrency analyst, tweeted<\/a> about $PEPE and $LADYs (another meme coin). In his tweet, he praised how a cryptocurrency trader made huge profits trading meme coins. The trader bought $PEPE on Apr 18 and $LADYS before Elon Musk tweeted. In summary, his investment gained 36x on $PEPE and 35x on $LADYS. <\/p>\n\n\n\n
The meme coin phenomenon has emerged as a culture in the cryptocurrency space. We can notably refer to prominent meme coins like Dogecoin ($DOGE) and Shiba Inu ($SHIB). At the time of writing, these two cryptocurrencies ranked number 8 and number 15, respectively, according to Coinmarketcap. $DOGE and $SHIB have paved the way for other meme coins to gain traction in the crypto market.<\/p>\n","post_title":"Massive $PEPE Deposits Shake Crypto Exchanges; Market Value Plunges","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"massive-pepe-deposits-shake-crypto-exchanges-market-value-plunges","to_ping":"","pinged":"","post_modified":"2023-05-13 00:36:16","post_modified_gmt":"2023-05-12 14:36:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11677","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11401,"post_author":"13","post_date":"2023-05-02 11:29:00","post_date_gmt":"2023-05-02 01:29:00","post_content":"\n
\n
SUI farming will open for two days on BNB and TUSD pools beginning May 1.<\/li>\n\n\n\n
The token is expected to list afterward on Binance against BTC, USDT, TUSD, and BNB.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Binance has unveiled its 33rd project on Binance Luanchpoool, Sui, that allows users to farm SUI tokens using staked BNB and TrueUSD (TUSD).<\/p>\n\n\n\n
According to the announcement<\/a> on April 30, the farming of SUI tokens would run for 2 days beginning May 1. After that, the asset would be listed on Binance under trading pairs SUI\/BTC, SUI\/USDT, SUITUSD, and SUI\/BNB, subject to the relevant liquidity requirements.<\/p>\n\n\n\n
40 million SUI tokens are set for launchpool token rewards, 0.4% of the total token supply of 10 billion. So far, more than 9 million BNB tokens have been staked on the BNB pool, while the TUSD pool has more than 450 million staked TUSD.<\/p>\n\n\n\n
DPoS Layer-1 Blockchain<\/h2>\n\n\n\n
Sui<\/a> operates as a delegated proof of stake (DPoS) layer-1 blockchain<\/a> written on the Move programming language. The project has since raised $300 million in a series B funding round backed by Binance Labs and Coinbase - bringing its valuation to $2 billion.<\/p>\n\n\n\n
The project, hyped by its community of supporters as the \u2018Ethereum Killer\u2019<\/em>, uses a unique technology involving a parallel data model and execution engine to enhance transaction scaling. Besides, the blockchain employs an object-centric model for processing parallel transactions.<\/p>\n\n\n\n
The unveiling has pumped the price of Binance\u2019s native BNB token upwards despite a bearish market momentum. At press time, the token was changing hands for $333, representing a jump of 3% in the past day.<\/p>\n","post_title":"Binance Launches SUI Farming With Staked BNB And TrueUSD","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-launches-sui-farming-with-staked-bnb-and-trueusd","to_ping":"","pinged":"","post_modified":"2023-05-04 13:03:20","post_modified_gmt":"2023-05-04 03:03:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
Shibarium To Make Shiba Inu A Serious Blockchain Project<\/h2>\n\n\n\n
Shibarium is expected to usher in a new era for Shiba Inu, with broader applications in gaming, DeFi, and the metaverse. The layer-2 network<\/a> will have seamless interaction with the primary Layer-1 Ethereum blockchain. <\/p>\n\n\n\n
With the integration, Shibarium will address Ethereum\u2019s high gas fees<\/a> and slow transactions. The scalability increases the usability of the Shiba Inu token, helping it play a greater role in the blockchain ecosystem. <\/p>\n\n\n\n
Shibarium has been a success so far. About 22 million transactions were performed over its four-month testing period. Investors hold big expectations of the ecosystem tokens due to the Shibarium benefits. <\/p>\n","post_title":"Shiba Inu\u2019s Shibarium Bridge Goes Fully Functional After A Shaky Start","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"shiba-inus-shibarium-bridge-goes-fully-functional-after-a-shaky-start","to_ping":"","pinged":"","post_modified":"2023-08-29 23:52:56","post_modified_gmt":"2023-08-29 13:52:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13144","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":12829,"post_author":"15","post_date":"2023-08-03 15:25:08","post_date_gmt":"2023-08-03 05:25:08","post_content":"\n
On Sunday, attackers targeted decentralized finance protocols, stealing over $24 million in cryptocurrency. The attackers exploited a vulnerability in Curve, the automated market maker platform's liquidity pools. <\/p>\n\n\n\n
According to Curve on Twitter<\/a>, the vulnerability was traced back to Vyper, an alternative third-party programming language for Ethereum smart contracts. Curve confirmed that other liquidity pools that do not use this language remain unaffected and secure.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/CurveFinance\/status\/1685693202722848768?s=20\n<\/div><\/figure>\n\n\n\n
Decurity, a decentralized finance security firm, revealed <\/a>that the NFT lending protocol JPEG'd suffered an $11 million cryptocurrency theft. JPEG'd was one of the first to detect the problem in its Curve pool.<\/p>\n\n\n\n
Exploit's Root Cause<\/h2>\n\n\n\n
Curve initially referred to the vulnerability as a typical \"re-entrance\" attack in a Tweet that has since been deleted. Re-entrancy attacks occur when a smart contract interacts with another, leading to incomplete execution.<\/p>\n\n\n\n
Re-entrancy vulnerabilities enable attackers to execute multiple calls in a single function, leading smart contracts to calculate incorrect balances. The $55 million 2016 DAO hack on Ethereum is a notable example.<\/p>\n\n\n\n
Curve initially responded to a Twitter account with a retracted statement, but later clarified their error. Curve confirmed that no wrongdoing occurred for projects integrating Vyper or its users.<\/p>\n\n\n\n
According to Vyper on Twitter, the language's compiler failed, affecting re-entry guards. These guards, included in the projects' code, are designed to protect against re-entry attacks but were ineffective.<\/p>\n\n\n\n
This prevented re-entry guards\u2014protections that were included in the projects\u2019 code and should guard against re-entry attacks\u2014from working, Meir Dolev said to Decrypt. Meir Dolev is the co-founder and CTO of cybersecurity firm Cyvers<\/p>\n","post_title":"DeFi Projects Suffer $24 Million Heist In Curve Pool Exploits","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"defi-projects-suffer-24-million-heist-in-curve-pool-exploits","to_ping":"","pinged":"","post_modified":"2023-08-03 15:25:13","post_modified_gmt":"2023-08-03 05:25:13","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12829","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":12708,"post_author":"21","post_date":"2023-07-25 23:28:55","post_date_gmt":"2023-07-25 13:28:55","post_content":"\n
\n
Worldcoin token, WLD, rose by four-digit percentages after launch and listing on Monday.<\/li>\n\n\n\n
Worldcoin promises biometric proof of identity amid the growing usage of AI.<\/li>\n<\/ul>\n\n\n\n
WLD, the token of the controversial identity-providing crypto project Worldcoin, launched<\/a> on Monday, July 24. Binance announced<\/a> it had listed the token, welcoming users to participate in new trading pairs WLD\/BTC and WLD\/USDT.<\/p>\n\n\n\n
The listing was a significant milestone for WLD as the token generated a frenzy afterwards, rising by four-digit percentages. Binance said that token withdrawal will begin on July 25, 2023, at 17:00 Eastern Eighth District Time. Other exchanges that listed the token were OKX, Huobi, and Bybit.\u00a0<\/p>\n\n\n\n
Worldcoin<\/a> plans to control almost 20% of tokens. The team will use the money for orb production, maintenance, and ecosystem development.<\/p>\n\n\n\n
Worldcoin to provide digital proof of identity<\/h2>\n\n\n\n
Worldcoin has been the centre of attention due to its promise of a biometric proof of identity. Sam Altman, CEO of OpenAI<\/a>, the firm behind ChatGPT, created the crypto project. Altman says World IDs are needed in this era of generative chatbots like ChatGPT.<\/p>\n\n\n\n
Worldcoin uses a device called \"The Orb\" to scan people's irises, generating a personally identifiable Worldcoin ID. The functionality has, however, been criticized for potential security and privacy violations. <\/p>\n\n\n\n
Altman believes Worldcoin would offer a reliable way to distinguish humans from bots while protecting privacy. It will also reduce fraud since only real people can own World IDs.<\/p>\n\n\n\n
Meanwhile, Altman is eyeing a global expansion, with the OpenAI CEO targeting up to 2 billion users. The project has already earned over 2 million users from the beta sign-up period.  <\/p>\n","post_title":"Binance Lists OpenAI-Affiliated Worldcoin Amid High Market Speculation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-lists-openai-affiliated-worldcoin-amid-high-market-speculation","to_ping":"","pinged":"","post_modified":"2023-07-25 23:29:00","post_modified_gmt":"2023-07-25 13:29:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12708","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":12524,"post_author":"1","post_date":"2023-07-15 23:36:16","post_date_gmt":"2023-07-15 13:36:16","post_content":"\n
\n
Ripple scored a landmark victory over the regulator on Thursday.<\/li>\n\n\n\n
The prolonged legal battle is expected to shape the regulations for digital assets.<\/li>\n<\/ul>\n\n\n\n
JP Morgan viewed the court ruling for Ripple as a significant victory. However, according to the investment banking giant, the regulations by enforcement are far from over. <\/p>\n\n\n\n
On Thursday, the US Southern District Court ruled partially in favor of Ripple, the FinTech company that issues XRP. The SEC and Ripple's 2-year legal battle concluded with the ruling that cryptocurrency issuance on exchanges is not an investment contract.<\/p>\n\n\n\n
\"This ruling is undoubtedly a milestone win for the industry. It provides legal clarity and defense around what does and does not constitute a security, and that overall outcome is in favor of what many in the industry had been arguing,\"<\/em> JP Morgan wrote<\/a> in the note seen by Coindesk.<\/p>\n\n\n\n
Following the landmark ruling, the price of cryptocurrencies soared as sentiment changed in the digital asset space. The cost of XRP rose by about 70%, while Bitcoin reached its highest level in more than a year.<\/p>\n\n\n\n
SEC's Next Step<\/h2>\n\n\n\n
However, according to JPMorgan, the ruling may not be the end of what has come to be termed as regulations by enforcement by the SEC, as the regulator could appeal the case or bring similar charges against other cryptocurrency companies.<\/p>\n\n\n\n
In June, Binance, the leading crypto exchange, faced 13 charges from the SEC, one being the sale of unauthorized securities. The regulator sued Coinbase, the largest US cryptocurrency exchange, for security law violations. <\/p>\n\n\n\n
At the start of the year, the SEC brought charges<\/a> against Gemini and Genesis for allegedly violating the securities regulations related to crypto lending. In February, it\u00a0 fined crypto exchange Kraken<\/a>\u00a0$30 million and ordered the platform to cease offering staking services to US users.<\/p>\n","post_title":"Ripple-SEC Ruling \u2018A Win\u2019 For Crypto Industry But Regulatory War Not Over, JP Morgan Says","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-sec-ruling-a-win-for-crypto-industry-but-regulatory-war-not-over-jp-morgan-says","to_ping":"","pinged":"","post_modified":"2023-07-15 23:36:25","post_modified_gmt":"2023-07-15 13:36:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11929,"post_author":"15","post_date":"2023-06-08 22:45:46","post_date_gmt":"2023-06-08 12:45:46","post_content":"\n
Arbitrum, a layer 2 blockchain, halts the process of transactions due to funding issues. With over $2.24 billion in deposits, the network experiences an hour-long standstill due to gas shortage. <\/p>\n\n\n\n
Developers on the Arbitrum Discord server<\/a> faced connectivity issues with the network's sequencer. The software is responsible for bundling and confirming transactions on the Ethereum network.<\/p>\n\n\n\n
According to on-chain records<\/a>, the sequencer exhausted its supply of Ether, the native cryptocurrency of Ethereum used for transaction fees<\/a>. Without sufficient Ether to cover the fees, the sequencer could not process transactions on Ethereum, resulting in Arbitrum coming to a halt.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
What's Next to Arbitrum?<\/h2>\n\n\n\n
Following an hour-long period of transaction processing failure, Arbitrum has resumed its operations. A wallet that had previously transferred funds to the Arbitrum multi-signature wallet sent 1.4 Ether to the sequence. This replenishment enabled the sequencer to resume sending transactions to Ethereum.<\/p>\n\n\n\n
The cause behind the depletion of gas in Arbitrum's sequencer remains uncertain. Since its launch in May 2021, the sequencer has only been manually refuelled with Ether on four occasions.<\/p>\n\n\n\n
The recent event highlights the reliance of Arbitrum on a centralized control point. Offchain Labs, the company behind Arbitrum, has expressed its plans to decentralize the network's sequencer. <\/p>\n","post_title":"Arbitrum Faces Temporary Shutdown Due To Gas Shortage","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"arbitrum-faces-temporary-shutdown-due-to-gas-shortage","to_ping":"","pinged":"","post_modified":"2023-06-08 22:45:55","post_modified_gmt":"2023-06-08 12:45:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11929","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11770,"post_author":"13","post_date":"2023-05-18 00:31:26","post_date_gmt":"2023-05-17 14:31:26","post_content":"\n
\n
Judge Analisa Torres has declined a motion by the commission to seal essential documents in the legal tussle.  <\/li>\n\n\n\n
The price of the native XRP token has surged following the ruling.<\/li>\n<\/ul>\n\n\n\n
A US judge presiding over the case between Ripple and the Securities and Exchange Commission (SEC) has rejected a motion filed by the regulator to seal some of the essential documents.<\/p>\n\n\n\n
Judge Analisa Torres of the US District Court has disagreed<\/a> with SEC\u2019s move to seal Hinman\u2019s Speech documents, comprising emails, text messages, and expert reports, saying they were \u2018judicial documents\u2019 subject to a strong presumption of public access.<\/p>\n\n\n\n
As a recap, the SEC is suing<\/a> Ripple for selling unregistered securities. At the centre of the legal matter is a controversial speech by the former finance division director at the commission, William Hinman, who stated that Ether, the native cryptocurrency to the Ethereum blockchain, was not a security. The statement is believed to influence the much-awaited summary judgment considerably.<\/p>\n\n\n\n
The SEC\u2019s Position On The Matter<\/h2>\n\n\n\n
On December 22, the SEC filed a motion before Judge Torres to have all the documents containing Hinman\u2019s speech sealed from the public, saying they were irrelevant to the court\u2019s summary judgment. Further, the commission added that having the documents sealed preserved \u2018openness and candour\u2019, which the court has also rejected.<\/p>\n\n\n\n
\u2018\u2018Regardless of whether the court ultimately determines that the Hinman Speech Documents are admissible, or whether the court relies on the documents in ruling on the summary judgment motions, they are judicial documents subject to a strong presumption of public access because they are \u2018relevant to the performance of the judicial function and useful in the judicial process,'\" <\/em>read the ruling.<\/p>\n\n\n\n
XRP has added more than 5% in the past 24 hours following the development and was trading at $0.4487 at the time of writing. <\/p>\n","post_title":"Ripple Scores Major Victory In Case With The SEC As Court Denies Motion Filed By The Regulator","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-scores-major-victory-in-case-with-the-sec-as-court-denies-motion-filed-by-the-regulator","to_ping":"","pinged":"","post_modified":"2023-05-18 00:31:29","post_modified_gmt":"2023-05-17 14:31:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11770","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11728,"post_author":"12","post_date":"2023-05-15 16:06:43","post_date_gmt":"2023-05-15 06:06:43","post_content":"\n
A recent report<\/a> from Financial Times found that Worldcoin, a cryptocurrency project launched by OpenAI CEO Sam Altman, is close to securing $100M in funding. Those already backing the project include; a16z, Digital Currency Group and Coinbase Ventures; the new round of funding includes \u201cexisting and new investors.\u201d<\/em><\/p>\n\n\n\n
The project<\/a> was founded in 2020 by Sam Altman, Alex Blania, and Max Novendstern. With over 1,697,000 sign ups already, Worldcoin aims to build \"the world\u2019s largest identity and financial network as a public utility, giving ownership to everyone, [and] to create universal access to the global economy regardless of country or background, accelerating the transition to an economic future that welcomes and benefits every person on the planet.<\/em><\/p>\n\n\n\n
In March 2022, The Information\u00a0reported<\/a>\u00a0that the firm was looking to raise $100M\u00a0from investors through a private token sale, citing two people familiar with the situation. These sources stated that \u201cit\u2019s a bear market, a crypto winter. It\u2019s remarkable for a project in this space to get this amount of investment.\u201d<\/em><\/p>\n\n\n\n
Worldcoin Verification, Adoption, And Account Abstraction<\/h2>\n\n\n\nWorldcoin launched a gas-free crypto wallet in early May of 2023 called World App. This wallet relies on a system called World ID which uses zero-knowledge proofs to verify that you're a real human with either a phone number or iris scan. The gasless transactions rely upon account abstraction<\/a>, a popular protocol on Ethereum, under ERC-4337<\/a>.<\/p>\n\n\n\n
World App is also integrated with Uniswap, so users can swap currencies in the wallet.<\/p>\n\n\n\n
Worldcoin has been in its beta for some time now; within \"the next six weeks\" the blockchain protocol is expected to launch and with that, transactions will begin being recorded.<\/p>\n","post_title":"OpenAI's Sam Altman To Secure $100M For Worldcoin; Will Start Recording Transactions In 6 Weeks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openais-sam-altman-to-secure-100m-for-worldcoin-will-start-recording-transactions-in-6-weeks","to_ping":"","pinged":"","post_modified":"2023-05-15 16:06:46","post_modified_gmt":"2023-05-15 06:06:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11728","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11677,"post_author":"15","post_date":"2023-05-13 00:36:12","post_date_gmt":"2023-05-12 14:36:12","post_content":"\n
In the last 24 hours, $46.37 million worth of $PEPE has been deposited into exchanges. The meme coin has net deposits from 1,176 addresses amounting to $22.94 million. $PEPE has seen a significant drop of 31% in value, shrinking its market value to around $500 million, as reported <\/a>by ScopeProtocol.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/ScopeProtocol\/status\/1656916635134066688?s=20\n<\/div><\/figure>\n\n\n\n
$PEPE is a meme coin that has gained significant popularity in cryptocurrency. It has captured the attention of crypto enthusiasts and investors due to its unique and humorous nature.<\/p>\n\n\n\n
Despite its playful image, $PEPE has also experienced fluctuations in its market price. This volatility is characteristic of many memecoins, as trends, speculation, and the overall sentiment of the market can influence their prices.<\/p>\n\n\n\n
More On Memecoins<\/h2>\n\n\n\n
On May 11, 2023, @lookonchain<\/a>, a prominent cryptocurrency analyst, tweeted<\/a> about $PEPE and $LADYs (another meme coin). In his tweet, he praised how a cryptocurrency trader made huge profits trading meme coins. The trader bought $PEPE on Apr 18 and $LADYS before Elon Musk tweeted. In summary, his investment gained 36x on $PEPE and 35x on $LADYS. <\/p>\n\n\n\n
The meme coin phenomenon has emerged as a culture in the cryptocurrency space. We can notably refer to prominent meme coins like Dogecoin ($DOGE) and Shiba Inu ($SHIB). At the time of writing, these two cryptocurrencies ranked number 8 and number 15, respectively, according to Coinmarketcap. $DOGE and $SHIB have paved the way for other meme coins to gain traction in the crypto market.<\/p>\n","post_title":"Massive $PEPE Deposits Shake Crypto Exchanges; Market Value Plunges","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"massive-pepe-deposits-shake-crypto-exchanges-market-value-plunges","to_ping":"","pinged":"","post_modified":"2023-05-13 00:36:16","post_modified_gmt":"2023-05-12 14:36:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11677","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11401,"post_author":"13","post_date":"2023-05-02 11:29:00","post_date_gmt":"2023-05-02 01:29:00","post_content":"\n
\n
SUI farming will open for two days on BNB and TUSD pools beginning May 1.<\/li>\n\n\n\n
The token is expected to list afterward on Binance against BTC, USDT, TUSD, and BNB.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Binance has unveiled its 33rd project on Binance Luanchpoool, Sui, that allows users to farm SUI tokens using staked BNB and TrueUSD (TUSD).<\/p>\n\n\n\n
According to the announcement<\/a> on April 30, the farming of SUI tokens would run for 2 days beginning May 1. After that, the asset would be listed on Binance under trading pairs SUI\/BTC, SUI\/USDT, SUITUSD, and SUI\/BNB, subject to the relevant liquidity requirements.<\/p>\n\n\n\n
40 million SUI tokens are set for launchpool token rewards, 0.4% of the total token supply of 10 billion. So far, more than 9 million BNB tokens have been staked on the BNB pool, while the TUSD pool has more than 450 million staked TUSD.<\/p>\n\n\n\n
DPoS Layer-1 Blockchain<\/h2>\n\n\n\n
Sui<\/a> operates as a delegated proof of stake (DPoS) layer-1 blockchain<\/a> written on the Move programming language. The project has since raised $300 million in a series B funding round backed by Binance Labs and Coinbase - bringing its valuation to $2 billion.<\/p>\n\n\n\n
The project, hyped by its community of supporters as the \u2018Ethereum Killer\u2019<\/em>, uses a unique technology involving a parallel data model and execution engine to enhance transaction scaling. Besides, the blockchain employs an object-centric model for processing parallel transactions.<\/p>\n\n\n\n
The unveiling has pumped the price of Binance\u2019s native BNB token upwards despite a bearish market momentum. At press time, the token was changing hands for $333, representing a jump of 3% in the past day.<\/p>\n","post_title":"Binance Launches SUI Farming With Staked BNB And TrueUSD","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-launches-sui-farming-with-staked-bnb-and-trueusd","to_ping":"","pinged":"","post_modified":"2023-05-04 13:03:20","post_modified_gmt":"2023-05-04 03:03:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
Shiba Inu lead developer Shytoshi Kusama reassured users that the team had implemented measures to prevent future outages. Kusama said that Shibarium had witnessed over 65,000 wallets and 350,000 transactions before the Monday update. <\/p>\n\n\n\n
Shibarium To Make Shiba Inu A Serious Blockchain Project<\/h2>\n\n\n\n
Shibarium is expected to usher in a new era for Shiba Inu, with broader applications in gaming, DeFi, and the metaverse. The layer-2 network<\/a> will have seamless interaction with the primary Layer-1 Ethereum blockchain. <\/p>\n\n\n\n
With the integration, Shibarium will address Ethereum\u2019s high gas fees<\/a> and slow transactions. The scalability increases the usability of the Shiba Inu token, helping it play a greater role in the blockchain ecosystem. <\/p>\n\n\n\n
Shibarium has been a success so far. About 22 million transactions were performed over its four-month testing period. Investors hold big expectations of the ecosystem tokens due to the Shibarium benefits. <\/p>\n","post_title":"Shiba Inu\u2019s Shibarium Bridge Goes Fully Functional After A Shaky Start","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"shiba-inus-shibarium-bridge-goes-fully-functional-after-a-shaky-start","to_ping":"","pinged":"","post_modified":"2023-08-29 23:52:56","post_modified_gmt":"2023-08-29 13:52:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13144","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":12829,"post_author":"15","post_date":"2023-08-03 15:25:08","post_date_gmt":"2023-08-03 05:25:08","post_content":"\n
On Sunday, attackers targeted decentralized finance protocols, stealing over $24 million in cryptocurrency. The attackers exploited a vulnerability in Curve, the automated market maker platform's liquidity pools. <\/p>\n\n\n\n
According to Curve on Twitter<\/a>, the vulnerability was traced back to Vyper, an alternative third-party programming language for Ethereum smart contracts. Curve confirmed that other liquidity pools that do not use this language remain unaffected and secure.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/CurveFinance\/status\/1685693202722848768?s=20\n<\/div><\/figure>\n\n\n\n
Decurity, a decentralized finance security firm, revealed <\/a>that the NFT lending protocol JPEG'd suffered an $11 million cryptocurrency theft. JPEG'd was one of the first to detect the problem in its Curve pool.<\/p>\n\n\n\n
Exploit's Root Cause<\/h2>\n\n\n\n
Curve initially referred to the vulnerability as a typical \"re-entrance\" attack in a Tweet that has since been deleted. Re-entrancy attacks occur when a smart contract interacts with another, leading to incomplete execution.<\/p>\n\n\n\n
Re-entrancy vulnerabilities enable attackers to execute multiple calls in a single function, leading smart contracts to calculate incorrect balances. The $55 million 2016 DAO hack on Ethereum is a notable example.<\/p>\n\n\n\n
Curve initially responded to a Twitter account with a retracted statement, but later clarified their error. Curve confirmed that no wrongdoing occurred for projects integrating Vyper or its users.<\/p>\n\n\n\n
According to Vyper on Twitter, the language's compiler failed, affecting re-entry guards. These guards, included in the projects' code, are designed to protect against re-entry attacks but were ineffective.<\/p>\n\n\n\n
This prevented re-entry guards\u2014protections that were included in the projects\u2019 code and should guard against re-entry attacks\u2014from working, Meir Dolev said to Decrypt. Meir Dolev is the co-founder and CTO of cybersecurity firm Cyvers<\/p>\n","post_title":"DeFi Projects Suffer $24 Million Heist In Curve Pool Exploits","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"defi-projects-suffer-24-million-heist-in-curve-pool-exploits","to_ping":"","pinged":"","post_modified":"2023-08-03 15:25:13","post_modified_gmt":"2023-08-03 05:25:13","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12829","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":12708,"post_author":"21","post_date":"2023-07-25 23:28:55","post_date_gmt":"2023-07-25 13:28:55","post_content":"\n
\n
Worldcoin token, WLD, rose by four-digit percentages after launch and listing on Monday.<\/li>\n\n\n\n
Worldcoin promises biometric proof of identity amid the growing usage of AI.<\/li>\n<\/ul>\n\n\n\n
WLD, the token of the controversial identity-providing crypto project Worldcoin, launched<\/a> on Monday, July 24. Binance announced<\/a> it had listed the token, welcoming users to participate in new trading pairs WLD\/BTC and WLD\/USDT.<\/p>\n\n\n\n
The listing was a significant milestone for WLD as the token generated a frenzy afterwards, rising by four-digit percentages. Binance said that token withdrawal will begin on July 25, 2023, at 17:00 Eastern Eighth District Time. Other exchanges that listed the token were OKX, Huobi, and Bybit.\u00a0<\/p>\n\n\n\n
Worldcoin<\/a> plans to control almost 20% of tokens. The team will use the money for orb production, maintenance, and ecosystem development.<\/p>\n\n\n\n
Worldcoin to provide digital proof of identity<\/h2>\n\n\n\n
Worldcoin has been the centre of attention due to its promise of a biometric proof of identity. Sam Altman, CEO of OpenAI<\/a>, the firm behind ChatGPT, created the crypto project. Altman says World IDs are needed in this era of generative chatbots like ChatGPT.<\/p>\n\n\n\n
Worldcoin uses a device called \"The Orb\" to scan people's irises, generating a personally identifiable Worldcoin ID. The functionality has, however, been criticized for potential security and privacy violations. <\/p>\n\n\n\n
Altman believes Worldcoin would offer a reliable way to distinguish humans from bots while protecting privacy. It will also reduce fraud since only real people can own World IDs.<\/p>\n\n\n\n
Meanwhile, Altman is eyeing a global expansion, with the OpenAI CEO targeting up to 2 billion users. The project has already earned over 2 million users from the beta sign-up period.  <\/p>\n","post_title":"Binance Lists OpenAI-Affiliated Worldcoin Amid High Market Speculation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-lists-openai-affiliated-worldcoin-amid-high-market-speculation","to_ping":"","pinged":"","post_modified":"2023-07-25 23:29:00","post_modified_gmt":"2023-07-25 13:29:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12708","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":12524,"post_author":"1","post_date":"2023-07-15 23:36:16","post_date_gmt":"2023-07-15 13:36:16","post_content":"\n
\n
Ripple scored a landmark victory over the regulator on Thursday.<\/li>\n\n\n\n
The prolonged legal battle is expected to shape the regulations for digital assets.<\/li>\n<\/ul>\n\n\n\n
JP Morgan viewed the court ruling for Ripple as a significant victory. However, according to the investment banking giant, the regulations by enforcement are far from over. <\/p>\n\n\n\n
On Thursday, the US Southern District Court ruled partially in favor of Ripple, the FinTech company that issues XRP. The SEC and Ripple's 2-year legal battle concluded with the ruling that cryptocurrency issuance on exchanges is not an investment contract.<\/p>\n\n\n\n
\"This ruling is undoubtedly a milestone win for the industry. It provides legal clarity and defense around what does and does not constitute a security, and that overall outcome is in favor of what many in the industry had been arguing,\"<\/em> JP Morgan wrote<\/a> in the note seen by Coindesk.<\/p>\n\n\n\n
Following the landmark ruling, the price of cryptocurrencies soared as sentiment changed in the digital asset space. The cost of XRP rose by about 70%, while Bitcoin reached its highest level in more than a year.<\/p>\n\n\n\n
SEC's Next Step<\/h2>\n\n\n\n
However, according to JPMorgan, the ruling may not be the end of what has come to be termed as regulations by enforcement by the SEC, as the regulator could appeal the case or bring similar charges against other cryptocurrency companies.<\/p>\n\n\n\n
In June, Binance, the leading crypto exchange, faced 13 charges from the SEC, one being the sale of unauthorized securities. The regulator sued Coinbase, the largest US cryptocurrency exchange, for security law violations. <\/p>\n\n\n\n
At the start of the year, the SEC brought charges<\/a> against Gemini and Genesis for allegedly violating the securities regulations related to crypto lending. In February, it\u00a0 fined crypto exchange Kraken<\/a>\u00a0$30 million and ordered the platform to cease offering staking services to US users.<\/p>\n","post_title":"Ripple-SEC Ruling \u2018A Win\u2019 For Crypto Industry But Regulatory War Not Over, JP Morgan Says","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-sec-ruling-a-win-for-crypto-industry-but-regulatory-war-not-over-jp-morgan-says","to_ping":"","pinged":"","post_modified":"2023-07-15 23:36:25","post_modified_gmt":"2023-07-15 13:36:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11929,"post_author":"15","post_date":"2023-06-08 22:45:46","post_date_gmt":"2023-06-08 12:45:46","post_content":"\n
Arbitrum, a layer 2 blockchain, halts the process of transactions due to funding issues. With over $2.24 billion in deposits, the network experiences an hour-long standstill due to gas shortage. <\/p>\n\n\n\n
Developers on the Arbitrum Discord server<\/a> faced connectivity issues with the network's sequencer. The software is responsible for bundling and confirming transactions on the Ethereum network.<\/p>\n\n\n\n
According to on-chain records<\/a>, the sequencer exhausted its supply of Ether, the native cryptocurrency of Ethereum used for transaction fees<\/a>. Without sufficient Ether to cover the fees, the sequencer could not process transactions on Ethereum, resulting in Arbitrum coming to a halt.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
What's Next to Arbitrum?<\/h2>\n\n\n\n
Following an hour-long period of transaction processing failure, Arbitrum has resumed its operations. A wallet that had previously transferred funds to the Arbitrum multi-signature wallet sent 1.4 Ether to the sequence. This replenishment enabled the sequencer to resume sending transactions to Ethereum.<\/p>\n\n\n\n
The cause behind the depletion of gas in Arbitrum's sequencer remains uncertain. Since its launch in May 2021, the sequencer has only been manually refuelled with Ether on four occasions.<\/p>\n\n\n\n
The recent event highlights the reliance of Arbitrum on a centralized control point. Offchain Labs, the company behind Arbitrum, has expressed its plans to decentralize the network's sequencer. <\/p>\n","post_title":"Arbitrum Faces Temporary Shutdown Due To Gas Shortage","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"arbitrum-faces-temporary-shutdown-due-to-gas-shortage","to_ping":"","pinged":"","post_modified":"2023-06-08 22:45:55","post_modified_gmt":"2023-06-08 12:45:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11929","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11770,"post_author":"13","post_date":"2023-05-18 00:31:26","post_date_gmt":"2023-05-17 14:31:26","post_content":"\n
\n
Judge Analisa Torres has declined a motion by the commission to seal essential documents in the legal tussle.  <\/li>\n\n\n\n
The price of the native XRP token has surged following the ruling.<\/li>\n<\/ul>\n\n\n\n
A US judge presiding over the case between Ripple and the Securities and Exchange Commission (SEC) has rejected a motion filed by the regulator to seal some of the essential documents.<\/p>\n\n\n\n
Judge Analisa Torres of the US District Court has disagreed<\/a> with SEC\u2019s move to seal Hinman\u2019s Speech documents, comprising emails, text messages, and expert reports, saying they were \u2018judicial documents\u2019 subject to a strong presumption of public access.<\/p>\n\n\n\n
As a recap, the SEC is suing<\/a> Ripple for selling unregistered securities. At the centre of the legal matter is a controversial speech by the former finance division director at the commission, William Hinman, who stated that Ether, the native cryptocurrency to the Ethereum blockchain, was not a security. The statement is believed to influence the much-awaited summary judgment considerably.<\/p>\n\n\n\n
The SEC\u2019s Position On The Matter<\/h2>\n\n\n\n
On December 22, the SEC filed a motion before Judge Torres to have all the documents containing Hinman\u2019s speech sealed from the public, saying they were irrelevant to the court\u2019s summary judgment. Further, the commission added that having the documents sealed preserved \u2018openness and candour\u2019, which the court has also rejected.<\/p>\n\n\n\n
\u2018\u2018Regardless of whether the court ultimately determines that the Hinman Speech Documents are admissible, or whether the court relies on the documents in ruling on the summary judgment motions, they are judicial documents subject to a strong presumption of public access because they are \u2018relevant to the performance of the judicial function and useful in the judicial process,'\" <\/em>read the ruling.<\/p>\n\n\n\n
XRP has added more than 5% in the past 24 hours following the development and was trading at $0.4487 at the time of writing. <\/p>\n","post_title":"Ripple Scores Major Victory In Case With The SEC As Court Denies Motion Filed By The Regulator","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-scores-major-victory-in-case-with-the-sec-as-court-denies-motion-filed-by-the-regulator","to_ping":"","pinged":"","post_modified":"2023-05-18 00:31:29","post_modified_gmt":"2023-05-17 14:31:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11770","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11728,"post_author":"12","post_date":"2023-05-15 16:06:43","post_date_gmt":"2023-05-15 06:06:43","post_content":"\n
A recent report<\/a> from Financial Times found that Worldcoin, a cryptocurrency project launched by OpenAI CEO Sam Altman, is close to securing $100M in funding. Those already backing the project include; a16z, Digital Currency Group and Coinbase Ventures; the new round of funding includes \u201cexisting and new investors.\u201d<\/em><\/p>\n\n\n\n
The project<\/a> was founded in 2020 by Sam Altman, Alex Blania, and Max Novendstern. With over 1,697,000 sign ups already, Worldcoin aims to build \"the world\u2019s largest identity and financial network as a public utility, giving ownership to everyone, [and] to create universal access to the global economy regardless of country or background, accelerating the transition to an economic future that welcomes and benefits every person on the planet.<\/em><\/p>\n\n\n\n
In March 2022, The Information\u00a0reported<\/a>\u00a0that the firm was looking to raise $100M\u00a0from investors through a private token sale, citing two people familiar with the situation. These sources stated that \u201cit\u2019s a bear market, a crypto winter. It\u2019s remarkable for a project in this space to get this amount of investment.\u201d<\/em><\/p>\n\n\n\n
Worldcoin Verification, Adoption, And Account Abstraction<\/h2>\n\n\n\nWorldcoin launched a gas-free crypto wallet in early May of 2023 called World App. This wallet relies on a system called World ID which uses zero-knowledge proofs to verify that you're a real human with either a phone number or iris scan. The gasless transactions rely upon account abstraction<\/a>, a popular protocol on Ethereum, under ERC-4337<\/a>.<\/p>\n\n\n\n
World App is also integrated with Uniswap, so users can swap currencies in the wallet.<\/p>\n\n\n\n
Worldcoin has been in its beta for some time now; within \"the next six weeks\" the blockchain protocol is expected to launch and with that, transactions will begin being recorded.<\/p>\n","post_title":"OpenAI's Sam Altman To Secure $100M For Worldcoin; Will Start Recording Transactions In 6 Weeks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openais-sam-altman-to-secure-100m-for-worldcoin-will-start-recording-transactions-in-6-weeks","to_ping":"","pinged":"","post_modified":"2023-05-15 16:06:46","post_modified_gmt":"2023-05-15 06:06:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11728","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11677,"post_author":"15","post_date":"2023-05-13 00:36:12","post_date_gmt":"2023-05-12 14:36:12","post_content":"\n
In the last 24 hours, $46.37 million worth of $PEPE has been deposited into exchanges. The meme coin has net deposits from 1,176 addresses amounting to $22.94 million. $PEPE has seen a significant drop of 31% in value, shrinking its market value to around $500 million, as reported <\/a>by ScopeProtocol.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/ScopeProtocol\/status\/1656916635134066688?s=20\n<\/div><\/figure>\n\n\n\n
$PEPE is a meme coin that has gained significant popularity in cryptocurrency. It has captured the attention of crypto enthusiasts and investors due to its unique and humorous nature.<\/p>\n\n\n\n
Despite its playful image, $PEPE has also experienced fluctuations in its market price. This volatility is characteristic of many memecoins, as trends, speculation, and the overall sentiment of the market can influence their prices.<\/p>\n\n\n\n
More On Memecoins<\/h2>\n\n\n\n
On May 11, 2023, @lookonchain<\/a>, a prominent cryptocurrency analyst, tweeted<\/a> about $PEPE and $LADYs (another meme coin). In his tweet, he praised how a cryptocurrency trader made huge profits trading meme coins. The trader bought $PEPE on Apr 18 and $LADYS before Elon Musk tweeted. In summary, his investment gained 36x on $PEPE and 35x on $LADYS. <\/p>\n\n\n\n
The meme coin phenomenon has emerged as a culture in the cryptocurrency space. We can notably refer to prominent meme coins like Dogecoin ($DOGE) and Shiba Inu ($SHIB). At the time of writing, these two cryptocurrencies ranked number 8 and number 15, respectively, according to Coinmarketcap. $DOGE and $SHIB have paved the way for other meme coins to gain traction in the crypto market.<\/p>\n","post_title":"Massive $PEPE Deposits Shake Crypto Exchanges; Market Value Plunges","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"massive-pepe-deposits-shake-crypto-exchanges-market-value-plunges","to_ping":"","pinged":"","post_modified":"2023-05-13 00:36:16","post_modified_gmt":"2023-05-12 14:36:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11677","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11401,"post_author":"13","post_date":"2023-05-02 11:29:00","post_date_gmt":"2023-05-02 01:29:00","post_content":"\n
\n
SUI farming will open for two days on BNB and TUSD pools beginning May 1.<\/li>\n\n\n\n
The token is expected to list afterward on Binance against BTC, USDT, TUSD, and BNB.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Binance has unveiled its 33rd project on Binance Luanchpoool, Sui, that allows users to farm SUI tokens using staked BNB and TrueUSD (TUSD).<\/p>\n\n\n\n
According to the announcement<\/a> on April 30, the farming of SUI tokens would run for 2 days beginning May 1. After that, the asset would be listed on Binance under trading pairs SUI\/BTC, SUI\/USDT, SUITUSD, and SUI\/BNB, subject to the relevant liquidity requirements.<\/p>\n\n\n\n
40 million SUI tokens are set for launchpool token rewards, 0.4% of the total token supply of 10 billion. So far, more than 9 million BNB tokens have been staked on the BNB pool, while the TUSD pool has more than 450 million staked TUSD.<\/p>\n\n\n\n
DPoS Layer-1 Blockchain<\/h2>\n\n\n\n
Sui<\/a> operates as a delegated proof of stake (DPoS) layer-1 blockchain<\/a> written on the Move programming language. The project has since raised $300 million in a series B funding round backed by Binance Labs and Coinbase - bringing its valuation to $2 billion.<\/p>\n\n\n\n
The project, hyped by its community of supporters as the \u2018Ethereum Killer\u2019<\/em>, uses a unique technology involving a parallel data model and execution engine to enhance transaction scaling. Besides, the blockchain employs an object-centric model for processing parallel transactions.<\/p>\n\n\n\n
The unveiling has pumped the price of Binance\u2019s native BNB token upwards despite a bearish market momentum. At press time, the token was changing hands for $333, representing a jump of 3% in the past day.<\/p>\n","post_title":"Binance Launches SUI Farming With Staked BNB And TrueUSD","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-launches-sui-farming-with-staked-bnb-and-trueusd","to_ping":"","pinged":"","post_modified":"2023-05-04 13:03:20","post_modified_gmt":"2023-05-04 03:03:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
The withdrawals come following initial bottlenecks after Shibarium officially launched on August 16. An influx of transactions is said to have resulted in network issues that saw millions of dollars trapped. The events triggered sharp bear actions on the market, with Shiba Inu crushing up to 10%. <\/p>\n\n\n\n
Shiba Inu lead developer Shytoshi Kusama reassured users that the team had implemented measures to prevent future outages. Kusama said that Shibarium had witnessed over 65,000 wallets and 350,000 transactions before the Monday update. <\/p>\n\n\n\n
Shibarium To Make Shiba Inu A Serious Blockchain Project<\/h2>\n\n\n\n
Shibarium is expected to usher in a new era for Shiba Inu, with broader applications in gaming, DeFi, and the metaverse. The layer-2 network<\/a> will have seamless interaction with the primary Layer-1 Ethereum blockchain. <\/p>\n\n\n\n
With the integration, Shibarium will address Ethereum\u2019s high gas fees<\/a> and slow transactions. The scalability increases the usability of the Shiba Inu token, helping it play a greater role in the blockchain ecosystem. <\/p>\n\n\n\n
Shibarium has been a success so far. About 22 million transactions were performed over its four-month testing period. Investors hold big expectations of the ecosystem tokens due to the Shibarium benefits. <\/p>\n","post_title":"Shiba Inu\u2019s Shibarium Bridge Goes Fully Functional After A Shaky Start","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"shiba-inus-shibarium-bridge-goes-fully-functional-after-a-shaky-start","to_ping":"","pinged":"","post_modified":"2023-08-29 23:52:56","post_modified_gmt":"2023-08-29 13:52:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13144","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":12829,"post_author":"15","post_date":"2023-08-03 15:25:08","post_date_gmt":"2023-08-03 05:25:08","post_content":"\n
On Sunday, attackers targeted decentralized finance protocols, stealing over $24 million in cryptocurrency. The attackers exploited a vulnerability in Curve, the automated market maker platform's liquidity pools. <\/p>\n\n\n\n
According to Curve on Twitter<\/a>, the vulnerability was traced back to Vyper, an alternative third-party programming language for Ethereum smart contracts. Curve confirmed that other liquidity pools that do not use this language remain unaffected and secure.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/CurveFinance\/status\/1685693202722848768?s=20\n<\/div><\/figure>\n\n\n\n
Decurity, a decentralized finance security firm, revealed <\/a>that the NFT lending protocol JPEG'd suffered an $11 million cryptocurrency theft. JPEG'd was one of the first to detect the problem in its Curve pool.<\/p>\n\n\n\n
Exploit's Root Cause<\/h2>\n\n\n\n
Curve initially referred to the vulnerability as a typical \"re-entrance\" attack in a Tweet that has since been deleted. Re-entrancy attacks occur when a smart contract interacts with another, leading to incomplete execution.<\/p>\n\n\n\n
Re-entrancy vulnerabilities enable attackers to execute multiple calls in a single function, leading smart contracts to calculate incorrect balances. The $55 million 2016 DAO hack on Ethereum is a notable example.<\/p>\n\n\n\n
Curve initially responded to a Twitter account with a retracted statement, but later clarified their error. Curve confirmed that no wrongdoing occurred for projects integrating Vyper or its users.<\/p>\n\n\n\n
According to Vyper on Twitter, the language's compiler failed, affecting re-entry guards. These guards, included in the projects' code, are designed to protect against re-entry attacks but were ineffective.<\/p>\n\n\n\n
This prevented re-entry guards\u2014protections that were included in the projects\u2019 code and should guard against re-entry attacks\u2014from working, Meir Dolev said to Decrypt. Meir Dolev is the co-founder and CTO of cybersecurity firm Cyvers<\/p>\n","post_title":"DeFi Projects Suffer $24 Million Heist In Curve Pool Exploits","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"defi-projects-suffer-24-million-heist-in-curve-pool-exploits","to_ping":"","pinged":"","post_modified":"2023-08-03 15:25:13","post_modified_gmt":"2023-08-03 05:25:13","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12829","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":12708,"post_author":"21","post_date":"2023-07-25 23:28:55","post_date_gmt":"2023-07-25 13:28:55","post_content":"\n
\n
Worldcoin token, WLD, rose by four-digit percentages after launch and listing on Monday.<\/li>\n\n\n\n
Worldcoin promises biometric proof of identity amid the growing usage of AI.<\/li>\n<\/ul>\n\n\n\n
WLD, the token of the controversial identity-providing crypto project Worldcoin, launched<\/a> on Monday, July 24. Binance announced<\/a> it had listed the token, welcoming users to participate in new trading pairs WLD\/BTC and WLD\/USDT.<\/p>\n\n\n\n
The listing was a significant milestone for WLD as the token generated a frenzy afterwards, rising by four-digit percentages. Binance said that token withdrawal will begin on July 25, 2023, at 17:00 Eastern Eighth District Time. Other exchanges that listed the token were OKX, Huobi, and Bybit.\u00a0<\/p>\n\n\n\n
Worldcoin<\/a> plans to control almost 20% of tokens. The team will use the money for orb production, maintenance, and ecosystem development.<\/p>\n\n\n\n
Worldcoin to provide digital proof of identity<\/h2>\n\n\n\n
Worldcoin has been the centre of attention due to its promise of a biometric proof of identity. Sam Altman, CEO of OpenAI<\/a>, the firm behind ChatGPT, created the crypto project. Altman says World IDs are needed in this era of generative chatbots like ChatGPT.<\/p>\n\n\n\n
Worldcoin uses a device called \"The Orb\" to scan people's irises, generating a personally identifiable Worldcoin ID. The functionality has, however, been criticized for potential security and privacy violations. <\/p>\n\n\n\n
Altman believes Worldcoin would offer a reliable way to distinguish humans from bots while protecting privacy. It will also reduce fraud since only real people can own World IDs.<\/p>\n\n\n\n
Meanwhile, Altman is eyeing a global expansion, with the OpenAI CEO targeting up to 2 billion users. The project has already earned over 2 million users from the beta sign-up period.  <\/p>\n","post_title":"Binance Lists OpenAI-Affiliated Worldcoin Amid High Market Speculation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-lists-openai-affiliated-worldcoin-amid-high-market-speculation","to_ping":"","pinged":"","post_modified":"2023-07-25 23:29:00","post_modified_gmt":"2023-07-25 13:29:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12708","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":12524,"post_author":"1","post_date":"2023-07-15 23:36:16","post_date_gmt":"2023-07-15 13:36:16","post_content":"\n
\n
Ripple scored a landmark victory over the regulator on Thursday.<\/li>\n\n\n\n
The prolonged legal battle is expected to shape the regulations for digital assets.<\/li>\n<\/ul>\n\n\n\n
JP Morgan viewed the court ruling for Ripple as a significant victory. However, according to the investment banking giant, the regulations by enforcement are far from over. <\/p>\n\n\n\n
On Thursday, the US Southern District Court ruled partially in favor of Ripple, the FinTech company that issues XRP. The SEC and Ripple's 2-year legal battle concluded with the ruling that cryptocurrency issuance on exchanges is not an investment contract.<\/p>\n\n\n\n
\"This ruling is undoubtedly a milestone win for the industry. It provides legal clarity and defense around what does and does not constitute a security, and that overall outcome is in favor of what many in the industry had been arguing,\"<\/em> JP Morgan wrote<\/a> in the note seen by Coindesk.<\/p>\n\n\n\n
Following the landmark ruling, the price of cryptocurrencies soared as sentiment changed in the digital asset space. The cost of XRP rose by about 70%, while Bitcoin reached its highest level in more than a year.<\/p>\n\n\n\n
SEC's Next Step<\/h2>\n\n\n\n
However, according to JPMorgan, the ruling may not be the end of what has come to be termed as regulations by enforcement by the SEC, as the regulator could appeal the case or bring similar charges against other cryptocurrency companies.<\/p>\n\n\n\n
In June, Binance, the leading crypto exchange, faced 13 charges from the SEC, one being the sale of unauthorized securities. The regulator sued Coinbase, the largest US cryptocurrency exchange, for security law violations. <\/p>\n\n\n\n
At the start of the year, the SEC brought charges<\/a> against Gemini and Genesis for allegedly violating the securities regulations related to crypto lending. In February, it\u00a0 fined crypto exchange Kraken<\/a>\u00a0$30 million and ordered the platform to cease offering staking services to US users.<\/p>\n","post_title":"Ripple-SEC Ruling \u2018A Win\u2019 For Crypto Industry But Regulatory War Not Over, JP Morgan Says","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-sec-ruling-a-win-for-crypto-industry-but-regulatory-war-not-over-jp-morgan-says","to_ping":"","pinged":"","post_modified":"2023-07-15 23:36:25","post_modified_gmt":"2023-07-15 13:36:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11929,"post_author":"15","post_date":"2023-06-08 22:45:46","post_date_gmt":"2023-06-08 12:45:46","post_content":"\n
Arbitrum, a layer 2 blockchain, halts the process of transactions due to funding issues. With over $2.24 billion in deposits, the network experiences an hour-long standstill due to gas shortage. <\/p>\n\n\n\n
Developers on the Arbitrum Discord server<\/a> faced connectivity issues with the network's sequencer. The software is responsible for bundling and confirming transactions on the Ethereum network.<\/p>\n\n\n\n
According to on-chain records<\/a>, the sequencer exhausted its supply of Ether, the native cryptocurrency of Ethereum used for transaction fees<\/a>. Without sufficient Ether to cover the fees, the sequencer could not process transactions on Ethereum, resulting in Arbitrum coming to a halt.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
What's Next to Arbitrum?<\/h2>\n\n\n\n
Following an hour-long period of transaction processing failure, Arbitrum has resumed its operations. A wallet that had previously transferred funds to the Arbitrum multi-signature wallet sent 1.4 Ether to the sequence. This replenishment enabled the sequencer to resume sending transactions to Ethereum.<\/p>\n\n\n\n
The cause behind the depletion of gas in Arbitrum's sequencer remains uncertain. Since its launch in May 2021, the sequencer has only been manually refuelled with Ether on four occasions.<\/p>\n\n\n\n
The recent event highlights the reliance of Arbitrum on a centralized control point. Offchain Labs, the company behind Arbitrum, has expressed its plans to decentralize the network's sequencer. <\/p>\n","post_title":"Arbitrum Faces Temporary Shutdown Due To Gas Shortage","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"arbitrum-faces-temporary-shutdown-due-to-gas-shortage","to_ping":"","pinged":"","post_modified":"2023-06-08 22:45:55","post_modified_gmt":"2023-06-08 12:45:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11929","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11770,"post_author":"13","post_date":"2023-05-18 00:31:26","post_date_gmt":"2023-05-17 14:31:26","post_content":"\n
\n
Judge Analisa Torres has declined a motion by the commission to seal essential documents in the legal tussle.  <\/li>\n\n\n\n
The price of the native XRP token has surged following the ruling.<\/li>\n<\/ul>\n\n\n\n
A US judge presiding over the case between Ripple and the Securities and Exchange Commission (SEC) has rejected a motion filed by the regulator to seal some of the essential documents.<\/p>\n\n\n\n
Judge Analisa Torres of the US District Court has disagreed<\/a> with SEC\u2019s move to seal Hinman\u2019s Speech documents, comprising emails, text messages, and expert reports, saying they were \u2018judicial documents\u2019 subject to a strong presumption of public access.<\/p>\n\n\n\n
As a recap, the SEC is suing<\/a> Ripple for selling unregistered securities. At the centre of the legal matter is a controversial speech by the former finance division director at the commission, William Hinman, who stated that Ether, the native cryptocurrency to the Ethereum blockchain, was not a security. The statement is believed to influence the much-awaited summary judgment considerably.<\/p>\n\n\n\n
The SEC\u2019s Position On The Matter<\/h2>\n\n\n\n
On December 22, the SEC filed a motion before Judge Torres to have all the documents containing Hinman\u2019s speech sealed from the public, saying they were irrelevant to the court\u2019s summary judgment. Further, the commission added that having the documents sealed preserved \u2018openness and candour\u2019, which the court has also rejected.<\/p>\n\n\n\n
\u2018\u2018Regardless of whether the court ultimately determines that the Hinman Speech Documents are admissible, or whether the court relies on the documents in ruling on the summary judgment motions, they are judicial documents subject to a strong presumption of public access because they are \u2018relevant to the performance of the judicial function and useful in the judicial process,'\" <\/em>read the ruling.<\/p>\n\n\n\n
XRP has added more than 5% in the past 24 hours following the development and was trading at $0.4487 at the time of writing. <\/p>\n","post_title":"Ripple Scores Major Victory In Case With The SEC As Court Denies Motion Filed By The Regulator","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-scores-major-victory-in-case-with-the-sec-as-court-denies-motion-filed-by-the-regulator","to_ping":"","pinged":"","post_modified":"2023-05-18 00:31:29","post_modified_gmt":"2023-05-17 14:31:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11770","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11728,"post_author":"12","post_date":"2023-05-15 16:06:43","post_date_gmt":"2023-05-15 06:06:43","post_content":"\n
A recent report<\/a> from Financial Times found that Worldcoin, a cryptocurrency project launched by OpenAI CEO Sam Altman, is close to securing $100M in funding. Those already backing the project include; a16z, Digital Currency Group and Coinbase Ventures; the new round of funding includes \u201cexisting and new investors.\u201d<\/em><\/p>\n\n\n\n
The project<\/a> was founded in 2020 by Sam Altman, Alex Blania, and Max Novendstern. With over 1,697,000 sign ups already, Worldcoin aims to build \"the world\u2019s largest identity and financial network as a public utility, giving ownership to everyone, [and] to create universal access to the global economy regardless of country or background, accelerating the transition to an economic future that welcomes and benefits every person on the planet.<\/em><\/p>\n\n\n\n
In March 2022, The Information\u00a0reported<\/a>\u00a0that the firm was looking to raise $100M\u00a0from investors through a private token sale, citing two people familiar with the situation. These sources stated that \u201cit\u2019s a bear market, a crypto winter. It\u2019s remarkable for a project in this space to get this amount of investment.\u201d<\/em><\/p>\n\n\n\n
Worldcoin Verification, Adoption, And Account Abstraction<\/h2>\n\n\n\nWorldcoin launched a gas-free crypto wallet in early May of 2023 called World App. This wallet relies on a system called World ID which uses zero-knowledge proofs to verify that you're a real human with either a phone number or iris scan. The gasless transactions rely upon account abstraction<\/a>, a popular protocol on Ethereum, under ERC-4337<\/a>.<\/p>\n\n\n\n
World App is also integrated with Uniswap, so users can swap currencies in the wallet.<\/p>\n\n\n\n
Worldcoin has been in its beta for some time now; within \"the next six weeks\" the blockchain protocol is expected to launch and with that, transactions will begin being recorded.<\/p>\n","post_title":"OpenAI's Sam Altman To Secure $100M For Worldcoin; Will Start Recording Transactions In 6 Weeks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openais-sam-altman-to-secure-100m-for-worldcoin-will-start-recording-transactions-in-6-weeks","to_ping":"","pinged":"","post_modified":"2023-05-15 16:06:46","post_modified_gmt":"2023-05-15 06:06:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11728","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11677,"post_author":"15","post_date":"2023-05-13 00:36:12","post_date_gmt":"2023-05-12 14:36:12","post_content":"\n
In the last 24 hours, $46.37 million worth of $PEPE has been deposited into exchanges. The meme coin has net deposits from 1,176 addresses amounting to $22.94 million. $PEPE has seen a significant drop of 31% in value, shrinking its market value to around $500 million, as reported <\/a>by ScopeProtocol.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/ScopeProtocol\/status\/1656916635134066688?s=20\n<\/div><\/figure>\n\n\n\n
$PEPE is a meme coin that has gained significant popularity in cryptocurrency. It has captured the attention of crypto enthusiasts and investors due to its unique and humorous nature.<\/p>\n\n\n\n
Despite its playful image, $PEPE has also experienced fluctuations in its market price. This volatility is characteristic of many memecoins, as trends, speculation, and the overall sentiment of the market can influence their prices.<\/p>\n\n\n\n
More On Memecoins<\/h2>\n\n\n\n
On May 11, 2023, @lookonchain<\/a>, a prominent cryptocurrency analyst, tweeted<\/a> about $PEPE and $LADYs (another meme coin). In his tweet, he praised how a cryptocurrency trader made huge profits trading meme coins. The trader bought $PEPE on Apr 18 and $LADYS before Elon Musk tweeted. In summary, his investment gained 36x on $PEPE and 35x on $LADYS. <\/p>\n\n\n\n
The meme coin phenomenon has emerged as a culture in the cryptocurrency space. We can notably refer to prominent meme coins like Dogecoin ($DOGE) and Shiba Inu ($SHIB). At the time of writing, these two cryptocurrencies ranked number 8 and number 15, respectively, according to Coinmarketcap. $DOGE and $SHIB have paved the way for other meme coins to gain traction in the crypto market.<\/p>\n","post_title":"Massive $PEPE Deposits Shake Crypto Exchanges; Market Value Plunges","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"massive-pepe-deposits-shake-crypto-exchanges-market-value-plunges","to_ping":"","pinged":"","post_modified":"2023-05-13 00:36:16","post_modified_gmt":"2023-05-12 14:36:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11677","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11401,"post_author":"13","post_date":"2023-05-02 11:29:00","post_date_gmt":"2023-05-02 01:29:00","post_content":"\n
\n
SUI farming will open for two days on BNB and TUSD pools beginning May 1.<\/li>\n\n\n\n
The token is expected to list afterward on Binance against BTC, USDT, TUSD, and BNB.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Binance has unveiled its 33rd project on Binance Luanchpoool, Sui, that allows users to farm SUI tokens using staked BNB and TrueUSD (TUSD).<\/p>\n\n\n\n
According to the announcement<\/a> on April 30, the farming of SUI tokens would run for 2 days beginning May 1. After that, the asset would be listed on Binance under trading pairs SUI\/BTC, SUI\/USDT, SUITUSD, and SUI\/BNB, subject to the relevant liquidity requirements.<\/p>\n\n\n\n
40 million SUI tokens are set for launchpool token rewards, 0.4% of the total token supply of 10 billion. So far, more than 9 million BNB tokens have been staked on the BNB pool, while the TUSD pool has more than 450 million staked TUSD.<\/p>\n\n\n\n
DPoS Layer-1 Blockchain<\/h2>\n\n\n\n
Sui<\/a> operates as a delegated proof of stake (DPoS) layer-1 blockchain<\/a> written on the Move programming language. The project has since raised $300 million in a series B funding round backed by Binance Labs and Coinbase - bringing its valuation to $2 billion.<\/p>\n\n\n\n
The project, hyped by its community of supporters as the \u2018Ethereum Killer\u2019<\/em>, uses a unique technology involving a parallel data model and execution engine to enhance transaction scaling. Besides, the blockchain employs an object-centric model for processing parallel transactions.<\/p>\n\n\n\n
The unveiling has pumped the price of Binance\u2019s native BNB token upwards despite a bearish market momentum. At press time, the token was changing hands for $333, representing a jump of 3% in the past day.<\/p>\n","post_title":"Binance Launches SUI Farming With Staked BNB And TrueUSD","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-launches-sui-farming-with-staked-bnb-and-trueusd","to_ping":"","pinged":"","post_modified":"2023-05-04 13:03:20","post_modified_gmt":"2023-05-04 03:03:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
Shib (SHIB), wrapped ether (wETH), and leash (LEASH) tokens will take approximately 45 minutes to 3 hours to withdraw. Bone (BONE) withdrawals will be processed in up to 7 days.<\/p>\n\n\n\n
The withdrawals come following initial bottlenecks after Shibarium officially launched on August 16. An influx of transactions is said to have resulted in network issues that saw millions of dollars trapped. The events triggered sharp bear actions on the market, with Shiba Inu crushing up to 10%. <\/p>\n\n\n\n
Shiba Inu lead developer Shytoshi Kusama reassured users that the team had implemented measures to prevent future outages. Kusama said that Shibarium had witnessed over 65,000 wallets and 350,000 transactions before the Monday update. <\/p>\n\n\n\n
Shibarium To Make Shiba Inu A Serious Blockchain Project<\/h2>\n\n\n\n
Shibarium is expected to usher in a new era for Shiba Inu, with broader applications in gaming, DeFi, and the metaverse. The layer-2 network<\/a> will have seamless interaction with the primary Layer-1 Ethereum blockchain. <\/p>\n\n\n\n
With the integration, Shibarium will address Ethereum\u2019s high gas fees<\/a> and slow transactions. The scalability increases the usability of the Shiba Inu token, helping it play a greater role in the blockchain ecosystem. <\/p>\n\n\n\n
Shibarium has been a success so far. About 22 million transactions were performed over its four-month testing period. Investors hold big expectations of the ecosystem tokens due to the Shibarium benefits. <\/p>\n","post_title":"Shiba Inu\u2019s Shibarium Bridge Goes Fully Functional After A Shaky Start","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"shiba-inus-shibarium-bridge-goes-fully-functional-after-a-shaky-start","to_ping":"","pinged":"","post_modified":"2023-08-29 23:52:56","post_modified_gmt":"2023-08-29 13:52:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13144","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":12829,"post_author":"15","post_date":"2023-08-03 15:25:08","post_date_gmt":"2023-08-03 05:25:08","post_content":"\n
On Sunday, attackers targeted decentralized finance protocols, stealing over $24 million in cryptocurrency. The attackers exploited a vulnerability in Curve, the automated market maker platform's liquidity pools. <\/p>\n\n\n\n
According to Curve on Twitter<\/a>, the vulnerability was traced back to Vyper, an alternative third-party programming language for Ethereum smart contracts. Curve confirmed that other liquidity pools that do not use this language remain unaffected and secure.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/CurveFinance\/status\/1685693202722848768?s=20\n<\/div><\/figure>\n\n\n\n
Decurity, a decentralized finance security firm, revealed <\/a>that the NFT lending protocol JPEG'd suffered an $11 million cryptocurrency theft. JPEG'd was one of the first to detect the problem in its Curve pool.<\/p>\n\n\n\n
Exploit's Root Cause<\/h2>\n\n\n\n
Curve initially referred to the vulnerability as a typical \"re-entrance\" attack in a Tweet that has since been deleted. Re-entrancy attacks occur when a smart contract interacts with another, leading to incomplete execution.<\/p>\n\n\n\n
Re-entrancy vulnerabilities enable attackers to execute multiple calls in a single function, leading smart contracts to calculate incorrect balances. The $55 million 2016 DAO hack on Ethereum is a notable example.<\/p>\n\n\n\n
Curve initially responded to a Twitter account with a retracted statement, but later clarified their error. Curve confirmed that no wrongdoing occurred for projects integrating Vyper or its users.<\/p>\n\n\n\n
According to Vyper on Twitter, the language's compiler failed, affecting re-entry guards. These guards, included in the projects' code, are designed to protect against re-entry attacks but were ineffective.<\/p>\n\n\n\n
This prevented re-entry guards\u2014protections that were included in the projects\u2019 code and should guard against re-entry attacks\u2014from working, Meir Dolev said to Decrypt. Meir Dolev is the co-founder and CTO of cybersecurity firm Cyvers<\/p>\n","post_title":"DeFi Projects Suffer $24 Million Heist In Curve Pool Exploits","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"defi-projects-suffer-24-million-heist-in-curve-pool-exploits","to_ping":"","pinged":"","post_modified":"2023-08-03 15:25:13","post_modified_gmt":"2023-08-03 05:25:13","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12829","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":12708,"post_author":"21","post_date":"2023-07-25 23:28:55","post_date_gmt":"2023-07-25 13:28:55","post_content":"\n
\n
Worldcoin token, WLD, rose by four-digit percentages after launch and listing on Monday.<\/li>\n\n\n\n
Worldcoin promises biometric proof of identity amid the growing usage of AI.<\/li>\n<\/ul>\n\n\n\n
WLD, the token of the controversial identity-providing crypto project Worldcoin, launched<\/a> on Monday, July 24. Binance announced<\/a> it had listed the token, welcoming users to participate in new trading pairs WLD\/BTC and WLD\/USDT.<\/p>\n\n\n\n
The listing was a significant milestone for WLD as the token generated a frenzy afterwards, rising by four-digit percentages. Binance said that token withdrawal will begin on July 25, 2023, at 17:00 Eastern Eighth District Time. Other exchanges that listed the token were OKX, Huobi, and Bybit.\u00a0<\/p>\n\n\n\n
Worldcoin<\/a> plans to control almost 20% of tokens. The team will use the money for orb production, maintenance, and ecosystem development.<\/p>\n\n\n\n
Worldcoin to provide digital proof of identity<\/h2>\n\n\n\n
Worldcoin has been the centre of attention due to its promise of a biometric proof of identity. Sam Altman, CEO of OpenAI<\/a>, the firm behind ChatGPT, created the crypto project. Altman says World IDs are needed in this era of generative chatbots like ChatGPT.<\/p>\n\n\n\n
Worldcoin uses a device called \"The Orb\" to scan people's irises, generating a personally identifiable Worldcoin ID. The functionality has, however, been criticized for potential security and privacy violations. <\/p>\n\n\n\n
Altman believes Worldcoin would offer a reliable way to distinguish humans from bots while protecting privacy. It will also reduce fraud since only real people can own World IDs.<\/p>\n\n\n\n
Meanwhile, Altman is eyeing a global expansion, with the OpenAI CEO targeting up to 2 billion users. The project has already earned over 2 million users from the beta sign-up period.  <\/p>\n","post_title":"Binance Lists OpenAI-Affiliated Worldcoin Amid High Market Speculation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-lists-openai-affiliated-worldcoin-amid-high-market-speculation","to_ping":"","pinged":"","post_modified":"2023-07-25 23:29:00","post_modified_gmt":"2023-07-25 13:29:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12708","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":12524,"post_author":"1","post_date":"2023-07-15 23:36:16","post_date_gmt":"2023-07-15 13:36:16","post_content":"\n
\n
Ripple scored a landmark victory over the regulator on Thursday.<\/li>\n\n\n\n
The prolonged legal battle is expected to shape the regulations for digital assets.<\/li>\n<\/ul>\n\n\n\n
JP Morgan viewed the court ruling for Ripple as a significant victory. However, according to the investment banking giant, the regulations by enforcement are far from over. <\/p>\n\n\n\n
On Thursday, the US Southern District Court ruled partially in favor of Ripple, the FinTech company that issues XRP. The SEC and Ripple's 2-year legal battle concluded with the ruling that cryptocurrency issuance on exchanges is not an investment contract.<\/p>\n\n\n\n
\"This ruling is undoubtedly a milestone win for the industry. It provides legal clarity and defense around what does and does not constitute a security, and that overall outcome is in favor of what many in the industry had been arguing,\"<\/em> JP Morgan wrote<\/a> in the note seen by Coindesk.<\/p>\n\n\n\n
Following the landmark ruling, the price of cryptocurrencies soared as sentiment changed in the digital asset space. The cost of XRP rose by about 70%, while Bitcoin reached its highest level in more than a year.<\/p>\n\n\n\n
SEC's Next Step<\/h2>\n\n\n\n
However, according to JPMorgan, the ruling may not be the end of what has come to be termed as regulations by enforcement by the SEC, as the regulator could appeal the case or bring similar charges against other cryptocurrency companies.<\/p>\n\n\n\n
In June, Binance, the leading crypto exchange, faced 13 charges from the SEC, one being the sale of unauthorized securities. The regulator sued Coinbase, the largest US cryptocurrency exchange, for security law violations. <\/p>\n\n\n\n
At the start of the year, the SEC brought charges<\/a> against Gemini and Genesis for allegedly violating the securities regulations related to crypto lending. In February, it\u00a0 fined crypto exchange Kraken<\/a>\u00a0$30 million and ordered the platform to cease offering staking services to US users.<\/p>\n","post_title":"Ripple-SEC Ruling \u2018A Win\u2019 For Crypto Industry But Regulatory War Not Over, JP Morgan Says","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-sec-ruling-a-win-for-crypto-industry-but-regulatory-war-not-over-jp-morgan-says","to_ping":"","pinged":"","post_modified":"2023-07-15 23:36:25","post_modified_gmt":"2023-07-15 13:36:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11929,"post_author":"15","post_date":"2023-06-08 22:45:46","post_date_gmt":"2023-06-08 12:45:46","post_content":"\n
Arbitrum, a layer 2 blockchain, halts the process of transactions due to funding issues. With over $2.24 billion in deposits, the network experiences an hour-long standstill due to gas shortage. <\/p>\n\n\n\n
Developers on the Arbitrum Discord server<\/a> faced connectivity issues with the network's sequencer. The software is responsible for bundling and confirming transactions on the Ethereum network.<\/p>\n\n\n\n
According to on-chain records<\/a>, the sequencer exhausted its supply of Ether, the native cryptocurrency of Ethereum used for transaction fees<\/a>. Without sufficient Ether to cover the fees, the sequencer could not process transactions on Ethereum, resulting in Arbitrum coming to a halt.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
What's Next to Arbitrum?<\/h2>\n\n\n\n
Following an hour-long period of transaction processing failure, Arbitrum has resumed its operations. A wallet that had previously transferred funds to the Arbitrum multi-signature wallet sent 1.4 Ether to the sequence. This replenishment enabled the sequencer to resume sending transactions to Ethereum.<\/p>\n\n\n\n
The cause behind the depletion of gas in Arbitrum's sequencer remains uncertain. Since its launch in May 2021, the sequencer has only been manually refuelled with Ether on four occasions.<\/p>\n\n\n\n
The recent event highlights the reliance of Arbitrum on a centralized control point. Offchain Labs, the company behind Arbitrum, has expressed its plans to decentralize the network's sequencer. <\/p>\n","post_title":"Arbitrum Faces Temporary Shutdown Due To Gas Shortage","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"arbitrum-faces-temporary-shutdown-due-to-gas-shortage","to_ping":"","pinged":"","post_modified":"2023-06-08 22:45:55","post_modified_gmt":"2023-06-08 12:45:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11929","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11770,"post_author":"13","post_date":"2023-05-18 00:31:26","post_date_gmt":"2023-05-17 14:31:26","post_content":"\n
\n
Judge Analisa Torres has declined a motion by the commission to seal essential documents in the legal tussle.  <\/li>\n\n\n\n
The price of the native XRP token has surged following the ruling.<\/li>\n<\/ul>\n\n\n\n
A US judge presiding over the case between Ripple and the Securities and Exchange Commission (SEC) has rejected a motion filed by the regulator to seal some of the essential documents.<\/p>\n\n\n\n
Judge Analisa Torres of the US District Court has disagreed<\/a> with SEC\u2019s move to seal Hinman\u2019s Speech documents, comprising emails, text messages, and expert reports, saying they were \u2018judicial documents\u2019 subject to a strong presumption of public access.<\/p>\n\n\n\n
As a recap, the SEC is suing<\/a> Ripple for selling unregistered securities. At the centre of the legal matter is a controversial speech by the former finance division director at the commission, William Hinman, who stated that Ether, the native cryptocurrency to the Ethereum blockchain, was not a security. The statement is believed to influence the much-awaited summary judgment considerably.<\/p>\n\n\n\n
The SEC\u2019s Position On The Matter<\/h2>\n\n\n\n
On December 22, the SEC filed a motion before Judge Torres to have all the documents containing Hinman\u2019s speech sealed from the public, saying they were irrelevant to the court\u2019s summary judgment. Further, the commission added that having the documents sealed preserved \u2018openness and candour\u2019, which the court has also rejected.<\/p>\n\n\n\n
\u2018\u2018Regardless of whether the court ultimately determines that the Hinman Speech Documents are admissible, or whether the court relies on the documents in ruling on the summary judgment motions, they are judicial documents subject to a strong presumption of public access because they are \u2018relevant to the performance of the judicial function and useful in the judicial process,'\" <\/em>read the ruling.<\/p>\n\n\n\n
XRP has added more than 5% in the past 24 hours following the development and was trading at $0.4487 at the time of writing. <\/p>\n","post_title":"Ripple Scores Major Victory In Case With The SEC As Court Denies Motion Filed By The Regulator","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-scores-major-victory-in-case-with-the-sec-as-court-denies-motion-filed-by-the-regulator","to_ping":"","pinged":"","post_modified":"2023-05-18 00:31:29","post_modified_gmt":"2023-05-17 14:31:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11770","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11728,"post_author":"12","post_date":"2023-05-15 16:06:43","post_date_gmt":"2023-05-15 06:06:43","post_content":"\n
A recent report<\/a> from Financial Times found that Worldcoin, a cryptocurrency project launched by OpenAI CEO Sam Altman, is close to securing $100M in funding. Those already backing the project include; a16z, Digital Currency Group and Coinbase Ventures; the new round of funding includes \u201cexisting and new investors.\u201d<\/em><\/p>\n\n\n\n
The project<\/a> was founded in 2020 by Sam Altman, Alex Blania, and Max Novendstern. With over 1,697,000 sign ups already, Worldcoin aims to build \"the world\u2019s largest identity and financial network as a public utility, giving ownership to everyone, [and] to create universal access to the global economy regardless of country or background, accelerating the transition to an economic future that welcomes and benefits every person on the planet.<\/em><\/p>\n\n\n\n
In March 2022, The Information\u00a0reported<\/a>\u00a0that the firm was looking to raise $100M\u00a0from investors through a private token sale, citing two people familiar with the situation. These sources stated that \u201cit\u2019s a bear market, a crypto winter. It\u2019s remarkable for a project in this space to get this amount of investment.\u201d<\/em><\/p>\n\n\n\n
Worldcoin Verification, Adoption, And Account Abstraction<\/h2>\n\n\n\nWorldcoin launched a gas-free crypto wallet in early May of 2023 called World App. This wallet relies on a system called World ID which uses zero-knowledge proofs to verify that you're a real human with either a phone number or iris scan. The gasless transactions rely upon account abstraction<\/a>, a popular protocol on Ethereum, under ERC-4337<\/a>.<\/p>\n\n\n\n
World App is also integrated with Uniswap, so users can swap currencies in the wallet.<\/p>\n\n\n\n
Worldcoin has been in its beta for some time now; within \"the next six weeks\" the blockchain protocol is expected to launch and with that, transactions will begin being recorded.<\/p>\n","post_title":"OpenAI's Sam Altman To Secure $100M For Worldcoin; Will Start Recording Transactions In 6 Weeks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openais-sam-altman-to-secure-100m-for-worldcoin-will-start-recording-transactions-in-6-weeks","to_ping":"","pinged":"","post_modified":"2023-05-15 16:06:46","post_modified_gmt":"2023-05-15 06:06:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11728","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11677,"post_author":"15","post_date":"2023-05-13 00:36:12","post_date_gmt":"2023-05-12 14:36:12","post_content":"\n
In the last 24 hours, $46.37 million worth of $PEPE has been deposited into exchanges. The meme coin has net deposits from 1,176 addresses amounting to $22.94 million. $PEPE has seen a significant drop of 31% in value, shrinking its market value to around $500 million, as reported <\/a>by ScopeProtocol.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/ScopeProtocol\/status\/1656916635134066688?s=20\n<\/div><\/figure>\n\n\n\n
$PEPE is a meme coin that has gained significant popularity in cryptocurrency. It has captured the attention of crypto enthusiasts and investors due to its unique and humorous nature.<\/p>\n\n\n\n
Despite its playful image, $PEPE has also experienced fluctuations in its market price. This volatility is characteristic of many memecoins, as trends, speculation, and the overall sentiment of the market can influence their prices.<\/p>\n\n\n\n
More On Memecoins<\/h2>\n\n\n\n
On May 11, 2023, @lookonchain<\/a>, a prominent cryptocurrency analyst, tweeted<\/a> about $PEPE and $LADYs (another meme coin). In his tweet, he praised how a cryptocurrency trader made huge profits trading meme coins. The trader bought $PEPE on Apr 18 and $LADYS before Elon Musk tweeted. In summary, his investment gained 36x on $PEPE and 35x on $LADYS. <\/p>\n\n\n\n
The meme coin phenomenon has emerged as a culture in the cryptocurrency space. We can notably refer to prominent meme coins like Dogecoin ($DOGE) and Shiba Inu ($SHIB). At the time of writing, these two cryptocurrencies ranked number 8 and number 15, respectively, according to Coinmarketcap. $DOGE and $SHIB have paved the way for other meme coins to gain traction in the crypto market.<\/p>\n","post_title":"Massive $PEPE Deposits Shake Crypto Exchanges; Market Value Plunges","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"massive-pepe-deposits-shake-crypto-exchanges-market-value-plunges","to_ping":"","pinged":"","post_modified":"2023-05-13 00:36:16","post_modified_gmt":"2023-05-12 14:36:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11677","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11401,"post_author":"13","post_date":"2023-05-02 11:29:00","post_date_gmt":"2023-05-02 01:29:00","post_content":"\n
\n
SUI farming will open for two days on BNB and TUSD pools beginning May 1.<\/li>\n\n\n\n
The token is expected to list afterward on Binance against BTC, USDT, TUSD, and BNB.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Binance has unveiled its 33rd project on Binance Luanchpoool, Sui, that allows users to farm SUI tokens using staked BNB and TrueUSD (TUSD).<\/p>\n\n\n\n
According to the announcement<\/a> on April 30, the farming of SUI tokens would run for 2 days beginning May 1. After that, the asset would be listed on Binance under trading pairs SUI\/BTC, SUI\/USDT, SUITUSD, and SUI\/BNB, subject to the relevant liquidity requirements.<\/p>\n\n\n\n
40 million SUI tokens are set for launchpool token rewards, 0.4% of the total token supply of 10 billion. So far, more than 9 million BNB tokens have been staked on the BNB pool, while the TUSD pool has more than 450 million staked TUSD.<\/p>\n\n\n\n
DPoS Layer-1 Blockchain<\/h2>\n\n\n\n
Sui<\/a> operates as a delegated proof of stake (DPoS) layer-1 blockchain<\/a> written on the Move programming language. The project has since raised $300 million in a series B funding round backed by Binance Labs and Coinbase - bringing its valuation to $2 billion.<\/p>\n\n\n\n
The project, hyped by its community of supporters as the \u2018Ethereum Killer\u2019<\/em>, uses a unique technology involving a parallel data model and execution engine to enhance transaction scaling. Besides, the blockchain employs an object-centric model for processing parallel transactions.<\/p>\n\n\n\n
The unveiling has pumped the price of Binance\u2019s native BNB token upwards despite a bearish market momentum. At press time, the token was changing hands for $333, representing a jump of 3% in the past day.<\/p>\n","post_title":"Binance Launches SUI Farming With Staked BNB And TrueUSD","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-launches-sui-farming-with-staked-bnb-and-trueusd","to_ping":"","pinged":"","post_modified":"2023-05-04 13:03:20","post_modified_gmt":"2023-05-04 03:03:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
The developers informed the community of the resumption of token withdrawals. Users can withdraw Shiba ecosystem tokens in a period ranging from minutes to days.<\/p>\n\n\n\n
Shib (SHIB), wrapped ether (wETH), and leash (LEASH) tokens will take approximately 45 minutes to 3 hours to withdraw. Bone (BONE) withdrawals will be processed in up to 7 days.<\/p>\n\n\n\n
The withdrawals come following initial bottlenecks after Shibarium officially launched on August 16. An influx of transactions is said to have resulted in network issues that saw millions of dollars trapped. The events triggered sharp bear actions on the market, with Shiba Inu crushing up to 10%. <\/p>\n\n\n\n
Shiba Inu lead developer Shytoshi Kusama reassured users that the team had implemented measures to prevent future outages. Kusama said that Shibarium had witnessed over 65,000 wallets and 350,000 transactions before the Monday update. <\/p>\n\n\n\n
Shibarium To Make Shiba Inu A Serious Blockchain Project<\/h2>\n\n\n\n
Shibarium is expected to usher in a new era for Shiba Inu, with broader applications in gaming, DeFi, and the metaverse. The layer-2 network<\/a> will have seamless interaction with the primary Layer-1 Ethereum blockchain. <\/p>\n\n\n\n
With the integration, Shibarium will address Ethereum\u2019s high gas fees<\/a> and slow transactions. The scalability increases the usability of the Shiba Inu token, helping it play a greater role in the blockchain ecosystem. <\/p>\n\n\n\n
Shibarium has been a success so far. About 22 million transactions were performed over its four-month testing period. Investors hold big expectations of the ecosystem tokens due to the Shibarium benefits. <\/p>\n","post_title":"Shiba Inu\u2019s Shibarium Bridge Goes Fully Functional After A Shaky Start","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"shiba-inus-shibarium-bridge-goes-fully-functional-after-a-shaky-start","to_ping":"","pinged":"","post_modified":"2023-08-29 23:52:56","post_modified_gmt":"2023-08-29 13:52:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13144","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":12829,"post_author":"15","post_date":"2023-08-03 15:25:08","post_date_gmt":"2023-08-03 05:25:08","post_content":"\n
On Sunday, attackers targeted decentralized finance protocols, stealing over $24 million in cryptocurrency. The attackers exploited a vulnerability in Curve, the automated market maker platform's liquidity pools. <\/p>\n\n\n\n
According to Curve on Twitter<\/a>, the vulnerability was traced back to Vyper, an alternative third-party programming language for Ethereum smart contracts. Curve confirmed that other liquidity pools that do not use this language remain unaffected and secure.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/CurveFinance\/status\/1685693202722848768?s=20\n<\/div><\/figure>\n\n\n\n
Decurity, a decentralized finance security firm, revealed <\/a>that the NFT lending protocol JPEG'd suffered an $11 million cryptocurrency theft. JPEG'd was one of the first to detect the problem in its Curve pool.<\/p>\n\n\n\n
Exploit's Root Cause<\/h2>\n\n\n\n
Curve initially referred to the vulnerability as a typical \"re-entrance\" attack in a Tweet that has since been deleted. Re-entrancy attacks occur when a smart contract interacts with another, leading to incomplete execution.<\/p>\n\n\n\n
Re-entrancy vulnerabilities enable attackers to execute multiple calls in a single function, leading smart contracts to calculate incorrect balances. The $55 million 2016 DAO hack on Ethereum is a notable example.<\/p>\n\n\n\n
Curve initially responded to a Twitter account with a retracted statement, but later clarified their error. Curve confirmed that no wrongdoing occurred for projects integrating Vyper or its users.<\/p>\n\n\n\n
According to Vyper on Twitter, the language's compiler failed, affecting re-entry guards. These guards, included in the projects' code, are designed to protect against re-entry attacks but were ineffective.<\/p>\n\n\n\n
This prevented re-entry guards\u2014protections that were included in the projects\u2019 code and should guard against re-entry attacks\u2014from working, Meir Dolev said to Decrypt. Meir Dolev is the co-founder and CTO of cybersecurity firm Cyvers<\/p>\n","post_title":"DeFi Projects Suffer $24 Million Heist In Curve Pool Exploits","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"defi-projects-suffer-24-million-heist-in-curve-pool-exploits","to_ping":"","pinged":"","post_modified":"2023-08-03 15:25:13","post_modified_gmt":"2023-08-03 05:25:13","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12829","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":12708,"post_author":"21","post_date":"2023-07-25 23:28:55","post_date_gmt":"2023-07-25 13:28:55","post_content":"\n
\n
Worldcoin token, WLD, rose by four-digit percentages after launch and listing on Monday.<\/li>\n\n\n\n
Worldcoin promises biometric proof of identity amid the growing usage of AI.<\/li>\n<\/ul>\n\n\n\n
WLD, the token of the controversial identity-providing crypto project Worldcoin, launched<\/a> on Monday, July 24. Binance announced<\/a> it had listed the token, welcoming users to participate in new trading pairs WLD\/BTC and WLD\/USDT.<\/p>\n\n\n\n
The listing was a significant milestone for WLD as the token generated a frenzy afterwards, rising by four-digit percentages. Binance said that token withdrawal will begin on July 25, 2023, at 17:00 Eastern Eighth District Time. Other exchanges that listed the token were OKX, Huobi, and Bybit.\u00a0<\/p>\n\n\n\n
Worldcoin<\/a> plans to control almost 20% of tokens. The team will use the money for orb production, maintenance, and ecosystem development.<\/p>\n\n\n\n
Worldcoin to provide digital proof of identity<\/h2>\n\n\n\n
Worldcoin has been the centre of attention due to its promise of a biometric proof of identity. Sam Altman, CEO of OpenAI<\/a>, the firm behind ChatGPT, created the crypto project. Altman says World IDs are needed in this era of generative chatbots like ChatGPT.<\/p>\n\n\n\n
Worldcoin uses a device called \"The Orb\" to scan people's irises, generating a personally identifiable Worldcoin ID. The functionality has, however, been criticized for potential security and privacy violations. <\/p>\n\n\n\n
Altman believes Worldcoin would offer a reliable way to distinguish humans from bots while protecting privacy. It will also reduce fraud since only real people can own World IDs.<\/p>\n\n\n\n
Meanwhile, Altman is eyeing a global expansion, with the OpenAI CEO targeting up to 2 billion users. The project has already earned over 2 million users from the beta sign-up period.  <\/p>\n","post_title":"Binance Lists OpenAI-Affiliated Worldcoin Amid High Market Speculation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-lists-openai-affiliated-worldcoin-amid-high-market-speculation","to_ping":"","pinged":"","post_modified":"2023-07-25 23:29:00","post_modified_gmt":"2023-07-25 13:29:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12708","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":12524,"post_author":"1","post_date":"2023-07-15 23:36:16","post_date_gmt":"2023-07-15 13:36:16","post_content":"\n
\n
Ripple scored a landmark victory over the regulator on Thursday.<\/li>\n\n\n\n
The prolonged legal battle is expected to shape the regulations for digital assets.<\/li>\n<\/ul>\n\n\n\n
JP Morgan viewed the court ruling for Ripple as a significant victory. However, according to the investment banking giant, the regulations by enforcement are far from over. <\/p>\n\n\n\n
On Thursday, the US Southern District Court ruled partially in favor of Ripple, the FinTech company that issues XRP. The SEC and Ripple's 2-year legal battle concluded with the ruling that cryptocurrency issuance on exchanges is not an investment contract.<\/p>\n\n\n\n
\"This ruling is undoubtedly a milestone win for the industry. It provides legal clarity and defense around what does and does not constitute a security, and that overall outcome is in favor of what many in the industry had been arguing,\"<\/em> JP Morgan wrote<\/a> in the note seen by Coindesk.<\/p>\n\n\n\n
Following the landmark ruling, the price of cryptocurrencies soared as sentiment changed in the digital asset space. The cost of XRP rose by about 70%, while Bitcoin reached its highest level in more than a year.<\/p>\n\n\n\n
SEC's Next Step<\/h2>\n\n\n\n
However, according to JPMorgan, the ruling may not be the end of what has come to be termed as regulations by enforcement by the SEC, as the regulator could appeal the case or bring similar charges against other cryptocurrency companies.<\/p>\n\n\n\n
In June, Binance, the leading crypto exchange, faced 13 charges from the SEC, one being the sale of unauthorized securities. The regulator sued Coinbase, the largest US cryptocurrency exchange, for security law violations. <\/p>\n\n\n\n
At the start of the year, the SEC brought charges<\/a> against Gemini and Genesis for allegedly violating the securities regulations related to crypto lending. In February, it\u00a0 fined crypto exchange Kraken<\/a>\u00a0$30 million and ordered the platform to cease offering staking services to US users.<\/p>\n","post_title":"Ripple-SEC Ruling \u2018A Win\u2019 For Crypto Industry But Regulatory War Not Over, JP Morgan Says","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-sec-ruling-a-win-for-crypto-industry-but-regulatory-war-not-over-jp-morgan-says","to_ping":"","pinged":"","post_modified":"2023-07-15 23:36:25","post_modified_gmt":"2023-07-15 13:36:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11929,"post_author":"15","post_date":"2023-06-08 22:45:46","post_date_gmt":"2023-06-08 12:45:46","post_content":"\n
Arbitrum, a layer 2 blockchain, halts the process of transactions due to funding issues. With over $2.24 billion in deposits, the network experiences an hour-long standstill due to gas shortage. <\/p>\n\n\n\n
Developers on the Arbitrum Discord server<\/a> faced connectivity issues with the network's sequencer. The software is responsible for bundling and confirming transactions on the Ethereum network.<\/p>\n\n\n\n
According to on-chain records<\/a>, the sequencer exhausted its supply of Ether, the native cryptocurrency of Ethereum used for transaction fees<\/a>. Without sufficient Ether to cover the fees, the sequencer could not process transactions on Ethereum, resulting in Arbitrum coming to a halt.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
What's Next to Arbitrum?<\/h2>\n\n\n\n
Following an hour-long period of transaction processing failure, Arbitrum has resumed its operations. A wallet that had previously transferred funds to the Arbitrum multi-signature wallet sent 1.4 Ether to the sequence. This replenishment enabled the sequencer to resume sending transactions to Ethereum.<\/p>\n\n\n\n
The cause behind the depletion of gas in Arbitrum's sequencer remains uncertain. Since its launch in May 2021, the sequencer has only been manually refuelled with Ether on four occasions.<\/p>\n\n\n\n
The recent event highlights the reliance of Arbitrum on a centralized control point. Offchain Labs, the company behind Arbitrum, has expressed its plans to decentralize the network's sequencer. <\/p>\n","post_title":"Arbitrum Faces Temporary Shutdown Due To Gas Shortage","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"arbitrum-faces-temporary-shutdown-due-to-gas-shortage","to_ping":"","pinged":"","post_modified":"2023-06-08 22:45:55","post_modified_gmt":"2023-06-08 12:45:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11929","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11770,"post_author":"13","post_date":"2023-05-18 00:31:26","post_date_gmt":"2023-05-17 14:31:26","post_content":"\n
\n
Judge Analisa Torres has declined a motion by the commission to seal essential documents in the legal tussle.  <\/li>\n\n\n\n
The price of the native XRP token has surged following the ruling.<\/li>\n<\/ul>\n\n\n\n
A US judge presiding over the case between Ripple and the Securities and Exchange Commission (SEC) has rejected a motion filed by the regulator to seal some of the essential documents.<\/p>\n\n\n\n
Judge Analisa Torres of the US District Court has disagreed<\/a> with SEC\u2019s move to seal Hinman\u2019s Speech documents, comprising emails, text messages, and expert reports, saying they were \u2018judicial documents\u2019 subject to a strong presumption of public access.<\/p>\n\n\n\n
As a recap, the SEC is suing<\/a> Ripple for selling unregistered securities. At the centre of the legal matter is a controversial speech by the former finance division director at the commission, William Hinman, who stated that Ether, the native cryptocurrency to the Ethereum blockchain, was not a security. The statement is believed to influence the much-awaited summary judgment considerably.<\/p>\n\n\n\n
The SEC\u2019s Position On The Matter<\/h2>\n\n\n\n
On December 22, the SEC filed a motion before Judge Torres to have all the documents containing Hinman\u2019s speech sealed from the public, saying they were irrelevant to the court\u2019s summary judgment. Further, the commission added that having the documents sealed preserved \u2018openness and candour\u2019, which the court has also rejected.<\/p>\n\n\n\n
\u2018\u2018Regardless of whether the court ultimately determines that the Hinman Speech Documents are admissible, or whether the court relies on the documents in ruling on the summary judgment motions, they are judicial documents subject to a strong presumption of public access because they are \u2018relevant to the performance of the judicial function and useful in the judicial process,'\" <\/em>read the ruling.<\/p>\n\n\n\n
XRP has added more than 5% in the past 24 hours following the development and was trading at $0.4487 at the time of writing. <\/p>\n","post_title":"Ripple Scores Major Victory In Case With The SEC As Court Denies Motion Filed By The Regulator","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-scores-major-victory-in-case-with-the-sec-as-court-denies-motion-filed-by-the-regulator","to_ping":"","pinged":"","post_modified":"2023-05-18 00:31:29","post_modified_gmt":"2023-05-17 14:31:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11770","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11728,"post_author":"12","post_date":"2023-05-15 16:06:43","post_date_gmt":"2023-05-15 06:06:43","post_content":"\n
A recent report<\/a> from Financial Times found that Worldcoin, a cryptocurrency project launched by OpenAI CEO Sam Altman, is close to securing $100M in funding. Those already backing the project include; a16z, Digital Currency Group and Coinbase Ventures; the new round of funding includes \u201cexisting and new investors.\u201d<\/em><\/p>\n\n\n\n
The project<\/a> was founded in 2020 by Sam Altman, Alex Blania, and Max Novendstern. With over 1,697,000 sign ups already, Worldcoin aims to build \"the world\u2019s largest identity and financial network as a public utility, giving ownership to everyone, [and] to create universal access to the global economy regardless of country or background, accelerating the transition to an economic future that welcomes and benefits every person on the planet.<\/em><\/p>\n\n\n\n
In March 2022, The Information\u00a0reported<\/a>\u00a0that the firm was looking to raise $100M\u00a0from investors through a private token sale, citing two people familiar with the situation. These sources stated that \u201cit\u2019s a bear market, a crypto winter. It\u2019s remarkable for a project in this space to get this amount of investment.\u201d<\/em><\/p>\n\n\n\n
Worldcoin Verification, Adoption, And Account Abstraction<\/h2>\n\n\n\nWorldcoin launched a gas-free crypto wallet in early May of 2023 called World App. This wallet relies on a system called World ID which uses zero-knowledge proofs to verify that you're a real human with either a phone number or iris scan. The gasless transactions rely upon account abstraction<\/a>, a popular protocol on Ethereum, under ERC-4337<\/a>.<\/p>\n\n\n\n
World App is also integrated with Uniswap, so users can swap currencies in the wallet.<\/p>\n\n\n\n
Worldcoin has been in its beta for some time now; within \"the next six weeks\" the blockchain protocol is expected to launch and with that, transactions will begin being recorded.<\/p>\n","post_title":"OpenAI's Sam Altman To Secure $100M For Worldcoin; Will Start Recording Transactions In 6 Weeks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openais-sam-altman-to-secure-100m-for-worldcoin-will-start-recording-transactions-in-6-weeks","to_ping":"","pinged":"","post_modified":"2023-05-15 16:06:46","post_modified_gmt":"2023-05-15 06:06:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11728","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11677,"post_author":"15","post_date":"2023-05-13 00:36:12","post_date_gmt":"2023-05-12 14:36:12","post_content":"\n
In the last 24 hours, $46.37 million worth of $PEPE has been deposited into exchanges. The meme coin has net deposits from 1,176 addresses amounting to $22.94 million. $PEPE has seen a significant drop of 31% in value, shrinking its market value to around $500 million, as reported <\/a>by ScopeProtocol.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/ScopeProtocol\/status\/1656916635134066688?s=20\n<\/div><\/figure>\n\n\n\n
$PEPE is a meme coin that has gained significant popularity in cryptocurrency. It has captured the attention of crypto enthusiasts and investors due to its unique and humorous nature.<\/p>\n\n\n\n
Despite its playful image, $PEPE has also experienced fluctuations in its market price. This volatility is characteristic of many memecoins, as trends, speculation, and the overall sentiment of the market can influence their prices.<\/p>\n\n\n\n
More On Memecoins<\/h2>\n\n\n\n
On May 11, 2023, @lookonchain<\/a>, a prominent cryptocurrency analyst, tweeted<\/a> about $PEPE and $LADYs (another meme coin). In his tweet, he praised how a cryptocurrency trader made huge profits trading meme coins. The trader bought $PEPE on Apr 18 and $LADYS before Elon Musk tweeted. In summary, his investment gained 36x on $PEPE and 35x on $LADYS. <\/p>\n\n\n\n
The meme coin phenomenon has emerged as a culture in the cryptocurrency space. We can notably refer to prominent meme coins like Dogecoin ($DOGE) and Shiba Inu ($SHIB). At the time of writing, these two cryptocurrencies ranked number 8 and number 15, respectively, according to Coinmarketcap. $DOGE and $SHIB have paved the way for other meme coins to gain traction in the crypto market.<\/p>\n","post_title":"Massive $PEPE Deposits Shake Crypto Exchanges; Market Value Plunges","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"massive-pepe-deposits-shake-crypto-exchanges-market-value-plunges","to_ping":"","pinged":"","post_modified":"2023-05-13 00:36:16","post_modified_gmt":"2023-05-12 14:36:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11677","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11401,"post_author":"13","post_date":"2023-05-02 11:29:00","post_date_gmt":"2023-05-02 01:29:00","post_content":"\n
\n
SUI farming will open for two days on BNB and TUSD pools beginning May 1.<\/li>\n\n\n\n
The token is expected to list afterward on Binance against BTC, USDT, TUSD, and BNB.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Binance has unveiled its 33rd project on Binance Luanchpoool, Sui, that allows users to farm SUI tokens using staked BNB and TrueUSD (TUSD).<\/p>\n\n\n\n
According to the announcement<\/a> on April 30, the farming of SUI tokens would run for 2 days beginning May 1. After that, the asset would be listed on Binance under trading pairs SUI\/BTC, SUI\/USDT, SUITUSD, and SUI\/BNB, subject to the relevant liquidity requirements.<\/p>\n\n\n\n
40 million SUI tokens are set for launchpool token rewards, 0.4% of the total token supply of 10 billion. So far, more than 9 million BNB tokens have been staked on the BNB pool, while the TUSD pool has more than 450 million staked TUSD.<\/p>\n\n\n\n
DPoS Layer-1 Blockchain<\/h2>\n\n\n\n
Sui<\/a> operates as a delegated proof of stake (DPoS) layer-1 blockchain<\/a> written on the Move programming language. The project has since raised $300 million in a series B funding round backed by Binance Labs and Coinbase - bringing its valuation to $2 billion.<\/p>\n\n\n\n
The project, hyped by its community of supporters as the \u2018Ethereum Killer\u2019<\/em>, uses a unique technology involving a parallel data model and execution engine to enhance transaction scaling. Besides, the blockchain employs an object-centric model for processing parallel transactions.<\/p>\n\n\n\n
The unveiling has pumped the price of Binance\u2019s native BNB token upwards despite a bearish market momentum. At press time, the token was changing hands for $333, representing a jump of 3% in the past day.<\/p>\n","post_title":"Binance Launches SUI Farming With Staked BNB And TrueUSD","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-launches-sui-farming-with-staked-bnb-and-trueusd","to_ping":"","pinged":"","post_modified":"2023-05-04 13:03:20","post_modified_gmt":"2023-05-04 03:03:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
Shiba Inu developers have announced<\/a> that \u201cShibarium is live and operating well.\u201d<\/em> The Monday update stated, \u201cnow that we've proven that all funds are safe (as we said) and that Shibarium is ready for prime time, we will reopen our channels.\u201d<\/em><\/p>\n\n\n\n
The developers informed the community of the resumption of token withdrawals. Users can withdraw Shiba ecosystem tokens in a period ranging from minutes to days.<\/p>\n\n\n\n
Shib (SHIB), wrapped ether (wETH), and leash (LEASH) tokens will take approximately 45 minutes to 3 hours to withdraw. Bone (BONE) withdrawals will be processed in up to 7 days.<\/p>\n\n\n\n
The withdrawals come following initial bottlenecks after Shibarium officially launched on August 16. An influx of transactions is said to have resulted in network issues that saw millions of dollars trapped. The events triggered sharp bear actions on the market, with Shiba Inu crushing up to 10%. <\/p>\n\n\n\n
Shiba Inu lead developer Shytoshi Kusama reassured users that the team had implemented measures to prevent future outages. Kusama said that Shibarium had witnessed over 65,000 wallets and 350,000 transactions before the Monday update. <\/p>\n\n\n\n
Shibarium To Make Shiba Inu A Serious Blockchain Project<\/h2>\n\n\n\nShibarium is expected to usher in a new era for Shiba Inu, with broader applications in gaming, DeFi, and the metaverse. The layer-2 network<\/a> will have seamless interaction with the primary Layer-1 Ethereum blockchain. <\/p>\n\n\n\n
With the integration, Shibarium will address Ethereum\u2019s high gas fees<\/a> and slow transactions. The scalability increases the usability of the Shiba Inu token, helping it play a greater role in the blockchain ecosystem. <\/p>\n\n\n\n
Shibarium has been a success so far. About 22 million transactions were performed over its four-month testing period. Investors hold big expectations of the ecosystem tokens due to the Shibarium benefits. <\/p>\n","post_title":"Shiba Inu\u2019s Shibarium Bridge Goes Fully Functional After A Shaky Start","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"shiba-inus-shibarium-bridge-goes-fully-functional-after-a-shaky-start","to_ping":"","pinged":"","post_modified":"2023-08-29 23:52:56","post_modified_gmt":"2023-08-29 13:52:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13144","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":12829,"post_author":"15","post_date":"2023-08-03 15:25:08","post_date_gmt":"2023-08-03 05:25:08","post_content":"\n
On Sunday, attackers targeted decentralized finance protocols, stealing over $24 million in cryptocurrency. The attackers exploited a vulnerability in Curve, the automated market maker platform's liquidity pools. <\/p>\n\n\n\n
According to Curve on Twitter<\/a>, the vulnerability was traced back to Vyper, an alternative third-party programming language for Ethereum smart contracts. Curve confirmed that other liquidity pools that do not use this language remain unaffected and secure.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/CurveFinance\/status\/1685693202722848768?s=20\n<\/div><\/figure>\n\n\n\n
Decurity, a decentralized finance security firm, revealed <\/a>that the NFT lending protocol JPEG'd suffered an $11 million cryptocurrency theft. JPEG'd was one of the first to detect the problem in its Curve pool.<\/p>\n\n\n\n
Exploit's Root Cause<\/h2>\n\n\n\n
Curve initially referred to the vulnerability as a typical \"re-entrance\" attack in a Tweet that has since been deleted. Re-entrancy attacks occur when a smart contract interacts with another, leading to incomplete execution.<\/p>\n\n\n\n
Re-entrancy vulnerabilities enable attackers to execute multiple calls in a single function, leading smart contracts to calculate incorrect balances. The $55 million 2016 DAO hack on Ethereum is a notable example.<\/p>\n\n\n\n
Curve initially responded to a Twitter account with a retracted statement, but later clarified their error. Curve confirmed that no wrongdoing occurred for projects integrating Vyper or its users.<\/p>\n\n\n\n
According to Vyper on Twitter, the language's compiler failed, affecting re-entry guards. These guards, included in the projects' code, are designed to protect against re-entry attacks but were ineffective.<\/p>\n\n\n\n
This prevented re-entry guards\u2014protections that were included in the projects\u2019 code and should guard against re-entry attacks\u2014from working, Meir Dolev said to Decrypt. Meir Dolev is the co-founder and CTO of cybersecurity firm Cyvers<\/p>\n","post_title":"DeFi Projects Suffer $24 Million Heist In Curve Pool Exploits","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"defi-projects-suffer-24-million-heist-in-curve-pool-exploits","to_ping":"","pinged":"","post_modified":"2023-08-03 15:25:13","post_modified_gmt":"2023-08-03 05:25:13","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12829","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":12708,"post_author":"21","post_date":"2023-07-25 23:28:55","post_date_gmt":"2023-07-25 13:28:55","post_content":"\n
\n
Worldcoin token, WLD, rose by four-digit percentages after launch and listing on Monday.<\/li>\n\n\n\n
Worldcoin promises biometric proof of identity amid the growing usage of AI.<\/li>\n<\/ul>\n\n\n\n
WLD, the token of the controversial identity-providing crypto project Worldcoin, launched<\/a> on Monday, July 24. Binance announced<\/a> it had listed the token, welcoming users to participate in new trading pairs WLD\/BTC and WLD\/USDT.<\/p>\n\n\n\n
The listing was a significant milestone for WLD as the token generated a frenzy afterwards, rising by four-digit percentages. Binance said that token withdrawal will begin on July 25, 2023, at 17:00 Eastern Eighth District Time. Other exchanges that listed the token were OKX, Huobi, and Bybit.\u00a0<\/p>\n\n\n\n
Worldcoin<\/a> plans to control almost 20% of tokens. The team will use the money for orb production, maintenance, and ecosystem development.<\/p>\n\n\n\n
Worldcoin to provide digital proof of identity<\/h2>\n\n\n\n
Worldcoin has been the centre of attention due to its promise of a biometric proof of identity. Sam Altman, CEO of OpenAI<\/a>, the firm behind ChatGPT, created the crypto project. Altman says World IDs are needed in this era of generative chatbots like ChatGPT.<\/p>\n\n\n\n
Worldcoin uses a device called \"The Orb\" to scan people's irises, generating a personally identifiable Worldcoin ID. The functionality has, however, been criticized for potential security and privacy violations. <\/p>\n\n\n\n
Altman believes Worldcoin would offer a reliable way to distinguish humans from bots while protecting privacy. It will also reduce fraud since only real people can own World IDs.<\/p>\n\n\n\n
Meanwhile, Altman is eyeing a global expansion, with the OpenAI CEO targeting up to 2 billion users. The project has already earned over 2 million users from the beta sign-up period.  <\/p>\n","post_title":"Binance Lists OpenAI-Affiliated Worldcoin Amid High Market Speculation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-lists-openai-affiliated-worldcoin-amid-high-market-speculation","to_ping":"","pinged":"","post_modified":"2023-07-25 23:29:00","post_modified_gmt":"2023-07-25 13:29:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12708","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":12524,"post_author":"1","post_date":"2023-07-15 23:36:16","post_date_gmt":"2023-07-15 13:36:16","post_content":"\n
\n
Ripple scored a landmark victory over the regulator on Thursday.<\/li>\n\n\n\n
The prolonged legal battle is expected to shape the regulations for digital assets.<\/li>\n<\/ul>\n\n\n\n
JP Morgan viewed the court ruling for Ripple as a significant victory. However, according to the investment banking giant, the regulations by enforcement are far from over. <\/p>\n\n\n\n
On Thursday, the US Southern District Court ruled partially in favor of Ripple, the FinTech company that issues XRP. The SEC and Ripple's 2-year legal battle concluded with the ruling that cryptocurrency issuance on exchanges is not an investment contract.<\/p>\n\n\n\n
\"This ruling is undoubtedly a milestone win for the industry. It provides legal clarity and defense around what does and does not constitute a security, and that overall outcome is in favor of what many in the industry had been arguing,\"<\/em> JP Morgan wrote<\/a> in the note seen by Coindesk.<\/p>\n\n\n\n
Following the landmark ruling, the price of cryptocurrencies soared as sentiment changed in the digital asset space. The cost of XRP rose by about 70%, while Bitcoin reached its highest level in more than a year.<\/p>\n\n\n\n
SEC's Next Step<\/h2>\n\n\n\n
However, according to JPMorgan, the ruling may not be the end of what has come to be termed as regulations by enforcement by the SEC, as the regulator could appeal the case or bring similar charges against other cryptocurrency companies.<\/p>\n\n\n\n
In June, Binance, the leading crypto exchange, faced 13 charges from the SEC, one being the sale of unauthorized securities. The regulator sued Coinbase, the largest US cryptocurrency exchange, for security law violations. <\/p>\n\n\n\n
At the start of the year, the SEC brought charges<\/a> against Gemini and Genesis for allegedly violating the securities regulations related to crypto lending. In February, it\u00a0 fined crypto exchange Kraken<\/a>\u00a0$30 million and ordered the platform to cease offering staking services to US users.<\/p>\n","post_title":"Ripple-SEC Ruling \u2018A Win\u2019 For Crypto Industry But Regulatory War Not Over, JP Morgan Says","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-sec-ruling-a-win-for-crypto-industry-but-regulatory-war-not-over-jp-morgan-says","to_ping":"","pinged":"","post_modified":"2023-07-15 23:36:25","post_modified_gmt":"2023-07-15 13:36:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11929,"post_author":"15","post_date":"2023-06-08 22:45:46","post_date_gmt":"2023-06-08 12:45:46","post_content":"\n
Arbitrum, a layer 2 blockchain, halts the process of transactions due to funding issues. With over $2.24 billion in deposits, the network experiences an hour-long standstill due to gas shortage. <\/p>\n\n\n\n
Developers on the Arbitrum Discord server<\/a> faced connectivity issues with the network's sequencer. The software is responsible for bundling and confirming transactions on the Ethereum network.<\/p>\n\n\n\n
According to on-chain records<\/a>, the sequencer exhausted its supply of Ether, the native cryptocurrency of Ethereum used for transaction fees<\/a>. Without sufficient Ether to cover the fees, the sequencer could not process transactions on Ethereum, resulting in Arbitrum coming to a halt.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
What's Next to Arbitrum?<\/h2>\n\n\n\n
Following an hour-long period of transaction processing failure, Arbitrum has resumed its operations. A wallet that had previously transferred funds to the Arbitrum multi-signature wallet sent 1.4 Ether to the sequence. This replenishment enabled the sequencer to resume sending transactions to Ethereum.<\/p>\n\n\n\n
The cause behind the depletion of gas in Arbitrum's sequencer remains uncertain. Since its launch in May 2021, the sequencer has only been manually refuelled with Ether on four occasions.<\/p>\n\n\n\n
The recent event highlights the reliance of Arbitrum on a centralized control point. Offchain Labs, the company behind Arbitrum, has expressed its plans to decentralize the network's sequencer. <\/p>\n","post_title":"Arbitrum Faces Temporary Shutdown Due To Gas Shortage","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"arbitrum-faces-temporary-shutdown-due-to-gas-shortage","to_ping":"","pinged":"","post_modified":"2023-06-08 22:45:55","post_modified_gmt":"2023-06-08 12:45:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11929","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11770,"post_author":"13","post_date":"2023-05-18 00:31:26","post_date_gmt":"2023-05-17 14:31:26","post_content":"\n
\n
Judge Analisa Torres has declined a motion by the commission to seal essential documents in the legal tussle.  <\/li>\n\n\n\n
The price of the native XRP token has surged following the ruling.<\/li>\n<\/ul>\n\n\n\n
A US judge presiding over the case between Ripple and the Securities and Exchange Commission (SEC) has rejected a motion filed by the regulator to seal some of the essential documents.<\/p>\n\n\n\n
Judge Analisa Torres of the US District Court has disagreed<\/a> with SEC\u2019s move to seal Hinman\u2019s Speech documents, comprising emails, text messages, and expert reports, saying they were \u2018judicial documents\u2019 subject to a strong presumption of public access.<\/p>\n\n\n\n
As a recap, the SEC is suing<\/a> Ripple for selling unregistered securities. At the centre of the legal matter is a controversial speech by the former finance division director at the commission, William Hinman, who stated that Ether, the native cryptocurrency to the Ethereum blockchain, was not a security. The statement is believed to influence the much-awaited summary judgment considerably.<\/p>\n\n\n\n
The SEC\u2019s Position On The Matter<\/h2>\n\n\n\n
On December 22, the SEC filed a motion before Judge Torres to have all the documents containing Hinman\u2019s speech sealed from the public, saying they were irrelevant to the court\u2019s summary judgment. Further, the commission added that having the documents sealed preserved \u2018openness and candour\u2019, which the court has also rejected.<\/p>\n\n\n\n
\u2018\u2018Regardless of whether the court ultimately determines that the Hinman Speech Documents are admissible, or whether the court relies on the documents in ruling on the summary judgment motions, they are judicial documents subject to a strong presumption of public access because they are \u2018relevant to the performance of the judicial function and useful in the judicial process,'\" <\/em>read the ruling.<\/p>\n\n\n\n
XRP has added more than 5% in the past 24 hours following the development and was trading at $0.4487 at the time of writing. <\/p>\n","post_title":"Ripple Scores Major Victory In Case With The SEC As Court Denies Motion Filed By The Regulator","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-scores-major-victory-in-case-with-the-sec-as-court-denies-motion-filed-by-the-regulator","to_ping":"","pinged":"","post_modified":"2023-05-18 00:31:29","post_modified_gmt":"2023-05-17 14:31:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11770","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11728,"post_author":"12","post_date":"2023-05-15 16:06:43","post_date_gmt":"2023-05-15 06:06:43","post_content":"\n
A recent report<\/a> from Financial Times found that Worldcoin, a cryptocurrency project launched by OpenAI CEO Sam Altman, is close to securing $100M in funding. Those already backing the project include; a16z, Digital Currency Group and Coinbase Ventures; the new round of funding includes \u201cexisting and new investors.\u201d<\/em><\/p>\n\n\n\n
The project<\/a> was founded in 2020 by Sam Altman, Alex Blania, and Max Novendstern. With over 1,697,000 sign ups already, Worldcoin aims to build \"the world\u2019s largest identity and financial network as a public utility, giving ownership to everyone, [and] to create universal access to the global economy regardless of country or background, accelerating the transition to an economic future that welcomes and benefits every person on the planet.<\/em><\/p>\n\n\n\n
In March 2022, The Information\u00a0reported<\/a>\u00a0that the firm was looking to raise $100M\u00a0from investors through a private token sale, citing two people familiar with the situation. These sources stated that \u201cit\u2019s a bear market, a crypto winter. It\u2019s remarkable for a project in this space to get this amount of investment.\u201d<\/em><\/p>\n\n\n\n
Worldcoin Verification, Adoption, And Account Abstraction<\/h2>\n\n\n\nWorldcoin launched a gas-free crypto wallet in early May of 2023 called World App. This wallet relies on a system called World ID which uses zero-knowledge proofs to verify that you're a real human with either a phone number or iris scan. The gasless transactions rely upon account abstraction<\/a>, a popular protocol on Ethereum, under ERC-4337<\/a>.<\/p>\n\n\n\n
World App is also integrated with Uniswap, so users can swap currencies in the wallet.<\/p>\n\n\n\n
Worldcoin has been in its beta for some time now; within \"the next six weeks\" the blockchain protocol is expected to launch and with that, transactions will begin being recorded.<\/p>\n","post_title":"OpenAI's Sam Altman To Secure $100M For Worldcoin; Will Start Recording Transactions In 6 Weeks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openais-sam-altman-to-secure-100m-for-worldcoin-will-start-recording-transactions-in-6-weeks","to_ping":"","pinged":"","post_modified":"2023-05-15 16:06:46","post_modified_gmt":"2023-05-15 06:06:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11728","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11677,"post_author":"15","post_date":"2023-05-13 00:36:12","post_date_gmt":"2023-05-12 14:36:12","post_content":"\n
In the last 24 hours, $46.37 million worth of $PEPE has been deposited into exchanges. The meme coin has net deposits from 1,176 addresses amounting to $22.94 million. $PEPE has seen a significant drop of 31% in value, shrinking its market value to around $500 million, as reported <\/a>by ScopeProtocol.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/ScopeProtocol\/status\/1656916635134066688?s=20\n<\/div><\/figure>\n\n\n\n
$PEPE is a meme coin that has gained significant popularity in cryptocurrency. It has captured the attention of crypto enthusiasts and investors due to its unique and humorous nature.<\/p>\n\n\n\n
Despite its playful image, $PEPE has also experienced fluctuations in its market price. This volatility is characteristic of many memecoins, as trends, speculation, and the overall sentiment of the market can influence their prices.<\/p>\n\n\n\n
More On Memecoins<\/h2>\n\n\n\n
On May 11, 2023, @lookonchain<\/a>, a prominent cryptocurrency analyst, tweeted<\/a> about $PEPE and $LADYs (another meme coin). In his tweet, he praised how a cryptocurrency trader made huge profits trading meme coins. The trader bought $PEPE on Apr 18 and $LADYS before Elon Musk tweeted. In summary, his investment gained 36x on $PEPE and 35x on $LADYS. <\/p>\n\n\n\n
The meme coin phenomenon has emerged as a culture in the cryptocurrency space. We can notably refer to prominent meme coins like Dogecoin ($DOGE) and Shiba Inu ($SHIB). At the time of writing, these two cryptocurrencies ranked number 8 and number 15, respectively, according to Coinmarketcap. $DOGE and $SHIB have paved the way for other meme coins to gain traction in the crypto market.<\/p>\n","post_title":"Massive $PEPE Deposits Shake Crypto Exchanges; Market Value Plunges","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"massive-pepe-deposits-shake-crypto-exchanges-market-value-plunges","to_ping":"","pinged":"","post_modified":"2023-05-13 00:36:16","post_modified_gmt":"2023-05-12 14:36:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11677","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11401,"post_author":"13","post_date":"2023-05-02 11:29:00","post_date_gmt":"2023-05-02 01:29:00","post_content":"\n
\n
SUI farming will open for two days on BNB and TUSD pools beginning May 1.<\/li>\n\n\n\n
The token is expected to list afterward on Binance against BTC, USDT, TUSD, and BNB.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Binance has unveiled its 33rd project on Binance Luanchpoool, Sui, that allows users to farm SUI tokens using staked BNB and TrueUSD (TUSD).<\/p>\n\n\n\n
According to the announcement<\/a> on April 30, the farming of SUI tokens would run for 2 days beginning May 1. After that, the asset would be listed on Binance under trading pairs SUI\/BTC, SUI\/USDT, SUITUSD, and SUI\/BNB, subject to the relevant liquidity requirements.<\/p>\n\n\n\n
40 million SUI tokens are set for launchpool token rewards, 0.4% of the total token supply of 10 billion. So far, more than 9 million BNB tokens have been staked on the BNB pool, while the TUSD pool has more than 450 million staked TUSD.<\/p>\n\n\n\n
DPoS Layer-1 Blockchain<\/h2>\n\n\n\n
Sui<\/a> operates as a delegated proof of stake (DPoS) layer-1 blockchain<\/a> written on the Move programming language. The project has since raised $300 million in a series B funding round backed by Binance Labs and Coinbase - bringing its valuation to $2 billion.<\/p>\n\n\n\n
The project, hyped by its community of supporters as the \u2018Ethereum Killer\u2019<\/em>, uses a unique technology involving a parallel data model and execution engine to enhance transaction scaling. Besides, the blockchain employs an object-centric model for processing parallel transactions.<\/p>\n\n\n\n
The unveiling has pumped the price of Binance\u2019s native BNB token upwards despite a bearish market momentum. At press time, the token was changing hands for $333, representing a jump of 3% in the past day.<\/p>\n","post_title":"Binance Launches SUI Farming With Staked BNB And TrueUSD","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-launches-sui-farming-with-staked-bnb-and-trueusd","to_ping":"","pinged":"","post_modified":"2023-05-04 13:03:20","post_modified_gmt":"2023-05-04 03:03:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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Follow The Distributed

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\n
Shibarium is expected to welcome a new era of gaming, DeFi, and metaverse applications.<\/li>\n<\/ul>\n\n\n\n
Shiba Inu developers have announced<\/a> that \u201cShibarium is live and operating well.\u201d<\/em> The Monday update stated, \u201cnow that we've proven that all funds are safe (as we said) and that Shibarium is ready for prime time, we will reopen our channels.\u201d<\/em><\/p>\n\n\n\n
The developers informed the community of the resumption of token withdrawals. Users can withdraw Shiba ecosystem tokens in a period ranging from minutes to days.<\/p>\n\n\n\n
Shib (SHIB), wrapped ether (wETH), and leash (LEASH) tokens will take approximately 45 minutes to 3 hours to withdraw. Bone (BONE) withdrawals will be processed in up to 7 days.<\/p>\n\n\n\n
The withdrawals come following initial bottlenecks after Shibarium officially launched on August 16. An influx of transactions is said to have resulted in network issues that saw millions of dollars trapped. The events triggered sharp bear actions on the market, with Shiba Inu crushing up to 10%. <\/p>\n\n\n\n
Shiba Inu lead developer Shytoshi Kusama reassured users that the team had implemented measures to prevent future outages. Kusama said that Shibarium had witnessed over 65,000 wallets and 350,000 transactions before the Monday update. <\/p>\n\n\n\n
Shibarium To Make Shiba Inu A Serious Blockchain Project<\/h2>\n\n\n\nShibarium is expected to usher in a new era for Shiba Inu, with broader applications in gaming, DeFi, and the metaverse. The layer-2 network<\/a> will have seamless interaction with the primary Layer-1 Ethereum blockchain. <\/p>\n\n\n\n
With the integration, Shibarium will address Ethereum\u2019s high gas fees<\/a> and slow transactions. The scalability increases the usability of the Shiba Inu token, helping it play a greater role in the blockchain ecosystem. <\/p>\n\n\n\n
Shibarium has been a success so far. About 22 million transactions were performed over its four-month testing period. Investors hold big expectations of the ecosystem tokens due to the Shibarium benefits. <\/p>\n","post_title":"Shiba Inu\u2019s Shibarium Bridge Goes Fully Functional After A Shaky Start","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"shiba-inus-shibarium-bridge-goes-fully-functional-after-a-shaky-start","to_ping":"","pinged":"","post_modified":"2023-08-29 23:52:56","post_modified_gmt":"2023-08-29 13:52:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13144","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":12829,"post_author":"15","post_date":"2023-08-03 15:25:08","post_date_gmt":"2023-08-03 05:25:08","post_content":"\n
On Sunday, attackers targeted decentralized finance protocols, stealing over $24 million in cryptocurrency. The attackers exploited a vulnerability in Curve, the automated market maker platform's liquidity pools. <\/p>\n\n\n\n
According to Curve on Twitter<\/a>, the vulnerability was traced back to Vyper, an alternative third-party programming language for Ethereum smart contracts. Curve confirmed that other liquidity pools that do not use this language remain unaffected and secure.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/CurveFinance\/status\/1685693202722848768?s=20\n<\/div><\/figure>\n\n\n\n
Decurity, a decentralized finance security firm, revealed <\/a>that the NFT lending protocol JPEG'd suffered an $11 million cryptocurrency theft. JPEG'd was one of the first to detect the problem in its Curve pool.<\/p>\n\n\n\n
Exploit's Root Cause<\/h2>\n\n\n\n
Curve initially referred to the vulnerability as a typical \"re-entrance\" attack in a Tweet that has since been deleted. Re-entrancy attacks occur when a smart contract interacts with another, leading to incomplete execution.<\/p>\n\n\n\n
Re-entrancy vulnerabilities enable attackers to execute multiple calls in a single function, leading smart contracts to calculate incorrect balances. The $55 million 2016 DAO hack on Ethereum is a notable example.<\/p>\n\n\n\n
Curve initially responded to a Twitter account with a retracted statement, but later clarified their error. Curve confirmed that no wrongdoing occurred for projects integrating Vyper or its users.<\/p>\n\n\n\n
According to Vyper on Twitter, the language's compiler failed, affecting re-entry guards. These guards, included in the projects' code, are designed to protect against re-entry attacks but were ineffective.<\/p>\n\n\n\n
This prevented re-entry guards\u2014protections that were included in the projects\u2019 code and should guard against re-entry attacks\u2014from working, Meir Dolev said to Decrypt. Meir Dolev is the co-founder and CTO of cybersecurity firm Cyvers<\/p>\n","post_title":"DeFi Projects Suffer $24 Million Heist In Curve Pool Exploits","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"defi-projects-suffer-24-million-heist-in-curve-pool-exploits","to_ping":"","pinged":"","post_modified":"2023-08-03 15:25:13","post_modified_gmt":"2023-08-03 05:25:13","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12829","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":12708,"post_author":"21","post_date":"2023-07-25 23:28:55","post_date_gmt":"2023-07-25 13:28:55","post_content":"\n
\n
Worldcoin token, WLD, rose by four-digit percentages after launch and listing on Monday.<\/li>\n\n\n\n
Worldcoin promises biometric proof of identity amid the growing usage of AI.<\/li>\n<\/ul>\n\n\n\n
WLD, the token of the controversial identity-providing crypto project Worldcoin, launched<\/a> on Monday, July 24. Binance announced<\/a> it had listed the token, welcoming users to participate in new trading pairs WLD\/BTC and WLD\/USDT.<\/p>\n\n\n\n
The listing was a significant milestone for WLD as the token generated a frenzy afterwards, rising by four-digit percentages. Binance said that token withdrawal will begin on July 25, 2023, at 17:00 Eastern Eighth District Time. Other exchanges that listed the token were OKX, Huobi, and Bybit.\u00a0<\/p>\n\n\n\n
Worldcoin<\/a> plans to control almost 20% of tokens. The team will use the money for orb production, maintenance, and ecosystem development.<\/p>\n\n\n\n
Worldcoin to provide digital proof of identity<\/h2>\n\n\n\n
Worldcoin has been the centre of attention due to its promise of a biometric proof of identity. Sam Altman, CEO of OpenAI<\/a>, the firm behind ChatGPT, created the crypto project. Altman says World IDs are needed in this era of generative chatbots like ChatGPT.<\/p>\n\n\n\n
Worldcoin uses a device called \"The Orb\" to scan people's irises, generating a personally identifiable Worldcoin ID. The functionality has, however, been criticized for potential security and privacy violations. <\/p>\n\n\n\n
Altman believes Worldcoin would offer a reliable way to distinguish humans from bots while protecting privacy. It will also reduce fraud since only real people can own World IDs.<\/p>\n\n\n\n
Meanwhile, Altman is eyeing a global expansion, with the OpenAI CEO targeting up to 2 billion users. The project has already earned over 2 million users from the beta sign-up period.  <\/p>\n","post_title":"Binance Lists OpenAI-Affiliated Worldcoin Amid High Market Speculation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-lists-openai-affiliated-worldcoin-amid-high-market-speculation","to_ping":"","pinged":"","post_modified":"2023-07-25 23:29:00","post_modified_gmt":"2023-07-25 13:29:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12708","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":12524,"post_author":"1","post_date":"2023-07-15 23:36:16","post_date_gmt":"2023-07-15 13:36:16","post_content":"\n
\n
Ripple scored a landmark victory over the regulator on Thursday.<\/li>\n\n\n\n
The prolonged legal battle is expected to shape the regulations for digital assets.<\/li>\n<\/ul>\n\n\n\n
JP Morgan viewed the court ruling for Ripple as a significant victory. However, according to the investment banking giant, the regulations by enforcement are far from over. <\/p>\n\n\n\n
On Thursday, the US Southern District Court ruled partially in favor of Ripple, the FinTech company that issues XRP. The SEC and Ripple's 2-year legal battle concluded with the ruling that cryptocurrency issuance on exchanges is not an investment contract.<\/p>\n\n\n\n
\"This ruling is undoubtedly a milestone win for the industry. It provides legal clarity and defense around what does and does not constitute a security, and that overall outcome is in favor of what many in the industry had been arguing,\"<\/em> JP Morgan wrote<\/a> in the note seen by Coindesk.<\/p>\n\n\n\n
Following the landmark ruling, the price of cryptocurrencies soared as sentiment changed in the digital asset space. The cost of XRP rose by about 70%, while Bitcoin reached its highest level in more than a year.<\/p>\n\n\n\n
SEC's Next Step<\/h2>\n\n\n\n
However, according to JPMorgan, the ruling may not be the end of what has come to be termed as regulations by enforcement by the SEC, as the regulator could appeal the case or bring similar charges against other cryptocurrency companies.<\/p>\n\n\n\n
In June, Binance, the leading crypto exchange, faced 13 charges from the SEC, one being the sale of unauthorized securities. The regulator sued Coinbase, the largest US cryptocurrency exchange, for security law violations. <\/p>\n\n\n\n
At the start of the year, the SEC brought charges<\/a> against Gemini and Genesis for allegedly violating the securities regulations related to crypto lending. In February, it\u00a0 fined crypto exchange Kraken<\/a>\u00a0$30 million and ordered the platform to cease offering staking services to US users.<\/p>\n","post_title":"Ripple-SEC Ruling \u2018A Win\u2019 For Crypto Industry But Regulatory War Not Over, JP Morgan Says","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-sec-ruling-a-win-for-crypto-industry-but-regulatory-war-not-over-jp-morgan-says","to_ping":"","pinged":"","post_modified":"2023-07-15 23:36:25","post_modified_gmt":"2023-07-15 13:36:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11929,"post_author":"15","post_date":"2023-06-08 22:45:46","post_date_gmt":"2023-06-08 12:45:46","post_content":"\n
Arbitrum, a layer 2 blockchain, halts the process of transactions due to funding issues. With over $2.24 billion in deposits, the network experiences an hour-long standstill due to gas shortage. <\/p>\n\n\n\n
Developers on the Arbitrum Discord server<\/a> faced connectivity issues with the network's sequencer. The software is responsible for bundling and confirming transactions on the Ethereum network.<\/p>\n\n\n\n
According to on-chain records<\/a>, the sequencer exhausted its supply of Ether, the native cryptocurrency of Ethereum used for transaction fees<\/a>. Without sufficient Ether to cover the fees, the sequencer could not process transactions on Ethereum, resulting in Arbitrum coming to a halt.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
What's Next to Arbitrum?<\/h2>\n\n\n\n
Following an hour-long period of transaction processing failure, Arbitrum has resumed its operations. A wallet that had previously transferred funds to the Arbitrum multi-signature wallet sent 1.4 Ether to the sequence. This replenishment enabled the sequencer to resume sending transactions to Ethereum.<\/p>\n\n\n\n
The cause behind the depletion of gas in Arbitrum's sequencer remains uncertain. Since its launch in May 2021, the sequencer has only been manually refuelled with Ether on four occasions.<\/p>\n\n\n\n
The recent event highlights the reliance of Arbitrum on a centralized control point. Offchain Labs, the company behind Arbitrum, has expressed its plans to decentralize the network's sequencer. <\/p>\n","post_title":"Arbitrum Faces Temporary Shutdown Due To Gas Shortage","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"arbitrum-faces-temporary-shutdown-due-to-gas-shortage","to_ping":"","pinged":"","post_modified":"2023-06-08 22:45:55","post_modified_gmt":"2023-06-08 12:45:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11929","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11770,"post_author":"13","post_date":"2023-05-18 00:31:26","post_date_gmt":"2023-05-17 14:31:26","post_content":"\n
\n
Judge Analisa Torres has declined a motion by the commission to seal essential documents in the legal tussle.  <\/li>\n\n\n\n
The price of the native XRP token has surged following the ruling.<\/li>\n<\/ul>\n\n\n\n
A US judge presiding over the case between Ripple and the Securities and Exchange Commission (SEC) has rejected a motion filed by the regulator to seal some of the essential documents.<\/p>\n\n\n\n
Judge Analisa Torres of the US District Court has disagreed<\/a> with SEC\u2019s move to seal Hinman\u2019s Speech documents, comprising emails, text messages, and expert reports, saying they were \u2018judicial documents\u2019 subject to a strong presumption of public access.<\/p>\n\n\n\n
As a recap, the SEC is suing<\/a> Ripple for selling unregistered securities. At the centre of the legal matter is a controversial speech by the former finance division director at the commission, William Hinman, who stated that Ether, the native cryptocurrency to the Ethereum blockchain, was not a security. The statement is believed to influence the much-awaited summary judgment considerably.<\/p>\n\n\n\n
The SEC\u2019s Position On The Matter<\/h2>\n\n\n\n
On December 22, the SEC filed a motion before Judge Torres to have all the documents containing Hinman\u2019s speech sealed from the public, saying they were irrelevant to the court\u2019s summary judgment. Further, the commission added that having the documents sealed preserved \u2018openness and candour\u2019, which the court has also rejected.<\/p>\n\n\n\n
\u2018\u2018Regardless of whether the court ultimately determines that the Hinman Speech Documents are admissible, or whether the court relies on the documents in ruling on the summary judgment motions, they are judicial documents subject to a strong presumption of public access because they are \u2018relevant to the performance of the judicial function and useful in the judicial process,'\" <\/em>read the ruling.<\/p>\n\n\n\n
XRP has added more than 5% in the past 24 hours following the development and was trading at $0.4487 at the time of writing. <\/p>\n","post_title":"Ripple Scores Major Victory In Case With The SEC As Court Denies Motion Filed By The Regulator","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-scores-major-victory-in-case-with-the-sec-as-court-denies-motion-filed-by-the-regulator","to_ping":"","pinged":"","post_modified":"2023-05-18 00:31:29","post_modified_gmt":"2023-05-17 14:31:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11770","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11728,"post_author":"12","post_date":"2023-05-15 16:06:43","post_date_gmt":"2023-05-15 06:06:43","post_content":"\n
A recent report<\/a> from Financial Times found that Worldcoin, a cryptocurrency project launched by OpenAI CEO Sam Altman, is close to securing $100M in funding. Those already backing the project include; a16z, Digital Currency Group and Coinbase Ventures; the new round of funding includes \u201cexisting and new investors.\u201d<\/em><\/p>\n\n\n\n
The project<\/a> was founded in 2020 by Sam Altman, Alex Blania, and Max Novendstern. With over 1,697,000 sign ups already, Worldcoin aims to build \"the world\u2019s largest identity and financial network as a public utility, giving ownership to everyone, [and] to create universal access to the global economy regardless of country or background, accelerating the transition to an economic future that welcomes and benefits every person on the planet.<\/em><\/p>\n\n\n\n
In March 2022, The Information\u00a0reported<\/a>\u00a0that the firm was looking to raise $100M\u00a0from investors through a private token sale, citing two people familiar with the situation. These sources stated that \u201cit\u2019s a bear market, a crypto winter. It\u2019s remarkable for a project in this space to get this amount of investment.\u201d<\/em><\/p>\n\n\n\n
Worldcoin Verification, Adoption, And Account Abstraction<\/h2>\n\n\n\nWorldcoin launched a gas-free crypto wallet in early May of 2023 called World App. This wallet relies on a system called World ID which uses zero-knowledge proofs to verify that you're a real human with either a phone number or iris scan. The gasless transactions rely upon account abstraction<\/a>, a popular protocol on Ethereum, under ERC-4337<\/a>.<\/p>\n\n\n\n
World App is also integrated with Uniswap, so users can swap currencies in the wallet.<\/p>\n\n\n\n
Worldcoin has been in its beta for some time now; within \"the next six weeks\" the blockchain protocol is expected to launch and with that, transactions will begin being recorded.<\/p>\n","post_title":"OpenAI's Sam Altman To Secure $100M For Worldcoin; Will Start Recording Transactions In 6 Weeks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openais-sam-altman-to-secure-100m-for-worldcoin-will-start-recording-transactions-in-6-weeks","to_ping":"","pinged":"","post_modified":"2023-05-15 16:06:46","post_modified_gmt":"2023-05-15 06:06:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11728","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11677,"post_author":"15","post_date":"2023-05-13 00:36:12","post_date_gmt":"2023-05-12 14:36:12","post_content":"\n
In the last 24 hours, $46.37 million worth of $PEPE has been deposited into exchanges. The meme coin has net deposits from 1,176 addresses amounting to $22.94 million. $PEPE has seen a significant drop of 31% in value, shrinking its market value to around $500 million, as reported <\/a>by ScopeProtocol.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/ScopeProtocol\/status\/1656916635134066688?s=20\n<\/div><\/figure>\n\n\n\n
$PEPE is a meme coin that has gained significant popularity in cryptocurrency. It has captured the attention of crypto enthusiasts and investors due to its unique and humorous nature.<\/p>\n\n\n\n
Despite its playful image, $PEPE has also experienced fluctuations in its market price. This volatility is characteristic of many memecoins, as trends, speculation, and the overall sentiment of the market can influence their prices.<\/p>\n\n\n\n
More On Memecoins<\/h2>\n\n\n\n
On May 11, 2023, @lookonchain<\/a>, a prominent cryptocurrency analyst, tweeted<\/a> about $PEPE and $LADYs (another meme coin). In his tweet, he praised how a cryptocurrency trader made huge profits trading meme coins. The trader bought $PEPE on Apr 18 and $LADYS before Elon Musk tweeted. In summary, his investment gained 36x on $PEPE and 35x on $LADYS. <\/p>\n\n\n\n
The meme coin phenomenon has emerged as a culture in the cryptocurrency space. We can notably refer to prominent meme coins like Dogecoin ($DOGE) and Shiba Inu ($SHIB). At the time of writing, these two cryptocurrencies ranked number 8 and number 15, respectively, according to Coinmarketcap. $DOGE and $SHIB have paved the way for other meme coins to gain traction in the crypto market.<\/p>\n","post_title":"Massive $PEPE Deposits Shake Crypto Exchanges; Market Value Plunges","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"massive-pepe-deposits-shake-crypto-exchanges-market-value-plunges","to_ping":"","pinged":"","post_modified":"2023-05-13 00:36:16","post_modified_gmt":"2023-05-12 14:36:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11677","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11401,"post_author":"13","post_date":"2023-05-02 11:29:00","post_date_gmt":"2023-05-02 01:29:00","post_content":"\n
\n
SUI farming will open for two days on BNB and TUSD pools beginning May 1.<\/li>\n\n\n\n
The token is expected to list afterward on Binance against BTC, USDT, TUSD, and BNB.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Binance has unveiled its 33rd project on Binance Luanchpoool, Sui, that allows users to farm SUI tokens using staked BNB and TrueUSD (TUSD).<\/p>\n\n\n\n
According to the announcement<\/a> on April 30, the farming of SUI tokens would run for 2 days beginning May 1. After that, the asset would be listed on Binance under trading pairs SUI\/BTC, SUI\/USDT, SUITUSD, and SUI\/BNB, subject to the relevant liquidity requirements.<\/p>\n\n\n\n
40 million SUI tokens are set for launchpool token rewards, 0.4% of the total token supply of 10 billion. So far, more than 9 million BNB tokens have been staked on the BNB pool, while the TUSD pool has more than 450 million staked TUSD.<\/p>\n\n\n\n
DPoS Layer-1 Blockchain<\/h2>\n\n\n\n
Sui<\/a> operates as a delegated proof of stake (DPoS) layer-1 blockchain<\/a> written on the Move programming language. The project has since raised $300 million in a series B funding round backed by Binance Labs and Coinbase - bringing its valuation to $2 billion.<\/p>\n\n\n\n
The project, hyped by its community of supporters as the \u2018Ethereum Killer\u2019<\/em>, uses a unique technology involving a parallel data model and execution engine to enhance transaction scaling. Besides, the blockchain employs an object-centric model for processing parallel transactions.<\/p>\n\n\n\n
The unveiling has pumped the price of Binance\u2019s native BNB token upwards despite a bearish market momentum. At press time, the token was changing hands for $333, representing a jump of 3% in the past day.<\/p>\n","post_title":"Binance Launches SUI Farming With Staked BNB And TrueUSD","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-launches-sui-farming-with-staked-bnb-and-trueusd","to_ping":"","pinged":"","post_modified":"2023-05-04 13:03:20","post_modified_gmt":"2023-05-04 03:03:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
Shibarium has resumed withdrawals of ecosystem tokens.<\/li>\n\n\n\n
Shibarium is expected to welcome a new era of gaming, DeFi, and metaverse applications.<\/li>\n<\/ul>\n\n\n\n
Shiba Inu developers have announced<\/a> that \u201cShibarium is live and operating well.\u201d<\/em> The Monday update stated, \u201cnow that we've proven that all funds are safe (as we said) and that Shibarium is ready for prime time, we will reopen our channels.\u201d<\/em><\/p>\n\n\n\n
The developers informed the community of the resumption of token withdrawals. Users can withdraw Shiba ecosystem tokens in a period ranging from minutes to days.<\/p>\n\n\n\n
Shib (SHIB), wrapped ether (wETH), and leash (LEASH) tokens will take approximately 45 minutes to 3 hours to withdraw. Bone (BONE) withdrawals will be processed in up to 7 days.<\/p>\n\n\n\n
The withdrawals come following initial bottlenecks after Shibarium officially launched on August 16. An influx of transactions is said to have resulted in network issues that saw millions of dollars trapped. The events triggered sharp bear actions on the market, with Shiba Inu crushing up to 10%. <\/p>\n\n\n\n
Shiba Inu lead developer Shytoshi Kusama reassured users that the team had implemented measures to prevent future outages. Kusama said that Shibarium had witnessed over 65,000 wallets and 350,000 transactions before the Monday update. <\/p>\n\n\n\n
Shibarium To Make Shiba Inu A Serious Blockchain Project<\/h2>\n\n\n\nShibarium is expected to usher in a new era for Shiba Inu, with broader applications in gaming, DeFi, and the metaverse. The layer-2 network<\/a> will have seamless interaction with the primary Layer-1 Ethereum blockchain. <\/p>\n\n\n\n
With the integration, Shibarium will address Ethereum\u2019s high gas fees<\/a> and slow transactions. The scalability increases the usability of the Shiba Inu token, helping it play a greater role in the blockchain ecosystem. <\/p>\n\n\n\n
Shibarium has been a success so far. About 22 million transactions were performed over its four-month testing period. Investors hold big expectations of the ecosystem tokens due to the Shibarium benefits. <\/p>\n","post_title":"Shiba Inu\u2019s Shibarium Bridge Goes Fully Functional After A Shaky Start","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"shiba-inus-shibarium-bridge-goes-fully-functional-after-a-shaky-start","to_ping":"","pinged":"","post_modified":"2023-08-29 23:52:56","post_modified_gmt":"2023-08-29 13:52:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13144","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":12829,"post_author":"15","post_date":"2023-08-03 15:25:08","post_date_gmt":"2023-08-03 05:25:08","post_content":"\n
On Sunday, attackers targeted decentralized finance protocols, stealing over $24 million in cryptocurrency. The attackers exploited a vulnerability in Curve, the automated market maker platform's liquidity pools. <\/p>\n\n\n\n
According to Curve on Twitter<\/a>, the vulnerability was traced back to Vyper, an alternative third-party programming language for Ethereum smart contracts. Curve confirmed that other liquidity pools that do not use this language remain unaffected and secure.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/CurveFinance\/status\/1685693202722848768?s=20\n<\/div><\/figure>\n\n\n\n
Decurity, a decentralized finance security firm, revealed <\/a>that the NFT lending protocol JPEG'd suffered an $11 million cryptocurrency theft. JPEG'd was one of the first to detect the problem in its Curve pool.<\/p>\n\n\n\n
Exploit's Root Cause<\/h2>\n\n\n\n
Curve initially referred to the vulnerability as a typical \"re-entrance\" attack in a Tweet that has since been deleted. Re-entrancy attacks occur when a smart contract interacts with another, leading to incomplete execution.<\/p>\n\n\n\n
Re-entrancy vulnerabilities enable attackers to execute multiple calls in a single function, leading smart contracts to calculate incorrect balances. The $55 million 2016 DAO hack on Ethereum is a notable example.<\/p>\n\n\n\n
Curve initially responded to a Twitter account with a retracted statement, but later clarified their error. Curve confirmed that no wrongdoing occurred for projects integrating Vyper or its users.<\/p>\n\n\n\n
According to Vyper on Twitter, the language's compiler failed, affecting re-entry guards. These guards, included in the projects' code, are designed to protect against re-entry attacks but were ineffective.<\/p>\n\n\n\n
This prevented re-entry guards\u2014protections that were included in the projects\u2019 code and should guard against re-entry attacks\u2014from working, Meir Dolev said to Decrypt. Meir Dolev is the co-founder and CTO of cybersecurity firm Cyvers<\/p>\n","post_title":"DeFi Projects Suffer $24 Million Heist In Curve Pool Exploits","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"defi-projects-suffer-24-million-heist-in-curve-pool-exploits","to_ping":"","pinged":"","post_modified":"2023-08-03 15:25:13","post_modified_gmt":"2023-08-03 05:25:13","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12829","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":12708,"post_author":"21","post_date":"2023-07-25 23:28:55","post_date_gmt":"2023-07-25 13:28:55","post_content":"\n
\n
Worldcoin token, WLD, rose by four-digit percentages after launch and listing on Monday.<\/li>\n\n\n\n
Worldcoin promises biometric proof of identity amid the growing usage of AI.<\/li>\n<\/ul>\n\n\n\n
WLD, the token of the controversial identity-providing crypto project Worldcoin, launched<\/a> on Monday, July 24. Binance announced<\/a> it had listed the token, welcoming users to participate in new trading pairs WLD\/BTC and WLD\/USDT.<\/p>\n\n\n\n
The listing was a significant milestone for WLD as the token generated a frenzy afterwards, rising by four-digit percentages. Binance said that token withdrawal will begin on July 25, 2023, at 17:00 Eastern Eighth District Time. Other exchanges that listed the token were OKX, Huobi, and Bybit.\u00a0<\/p>\n\n\n\n
Worldcoin<\/a> plans to control almost 20% of tokens. The team will use the money for orb production, maintenance, and ecosystem development.<\/p>\n\n\n\n
Worldcoin to provide digital proof of identity<\/h2>\n\n\n\n
Worldcoin has been the centre of attention due to its promise of a biometric proof of identity. Sam Altman, CEO of OpenAI<\/a>, the firm behind ChatGPT, created the crypto project. Altman says World IDs are needed in this era of generative chatbots like ChatGPT.<\/p>\n\n\n\n
Worldcoin uses a device called \"The Orb\" to scan people's irises, generating a personally identifiable Worldcoin ID. The functionality has, however, been criticized for potential security and privacy violations. <\/p>\n\n\n\n
Altman believes Worldcoin would offer a reliable way to distinguish humans from bots while protecting privacy. It will also reduce fraud since only real people can own World IDs.<\/p>\n\n\n\n
Meanwhile, Altman is eyeing a global expansion, with the OpenAI CEO targeting up to 2 billion users. The project has already earned over 2 million users from the beta sign-up period.  <\/p>\n","post_title":"Binance Lists OpenAI-Affiliated Worldcoin Amid High Market Speculation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-lists-openai-affiliated-worldcoin-amid-high-market-speculation","to_ping":"","pinged":"","post_modified":"2023-07-25 23:29:00","post_modified_gmt":"2023-07-25 13:29:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12708","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":12524,"post_author":"1","post_date":"2023-07-15 23:36:16","post_date_gmt":"2023-07-15 13:36:16","post_content":"\n
\n
Ripple scored a landmark victory over the regulator on Thursday.<\/li>\n\n\n\n
The prolonged legal battle is expected to shape the regulations for digital assets.<\/li>\n<\/ul>\n\n\n\n
JP Morgan viewed the court ruling for Ripple as a significant victory. However, according to the investment banking giant, the regulations by enforcement are far from over. <\/p>\n\n\n\n
On Thursday, the US Southern District Court ruled partially in favor of Ripple, the FinTech company that issues XRP. The SEC and Ripple's 2-year legal battle concluded with the ruling that cryptocurrency issuance on exchanges is not an investment contract.<\/p>\n\n\n\n
\"This ruling is undoubtedly a milestone win for the industry. It provides legal clarity and defense around what does and does not constitute a security, and that overall outcome is in favor of what many in the industry had been arguing,\"<\/em> JP Morgan wrote<\/a> in the note seen by Coindesk.<\/p>\n\n\n\n
Following the landmark ruling, the price of cryptocurrencies soared as sentiment changed in the digital asset space. The cost of XRP rose by about 70%, while Bitcoin reached its highest level in more than a year.<\/p>\n\n\n\n
SEC's Next Step<\/h2>\n\n\n\n
However, according to JPMorgan, the ruling may not be the end of what has come to be termed as regulations by enforcement by the SEC, as the regulator could appeal the case or bring similar charges against other cryptocurrency companies.<\/p>\n\n\n\n
In June, Binance, the leading crypto exchange, faced 13 charges from the SEC, one being the sale of unauthorized securities. The regulator sued Coinbase, the largest US cryptocurrency exchange, for security law violations. <\/p>\n\n\n\n
At the start of the year, the SEC brought charges<\/a> against Gemini and Genesis for allegedly violating the securities regulations related to crypto lending. In February, it\u00a0 fined crypto exchange Kraken<\/a>\u00a0$30 million and ordered the platform to cease offering staking services to US users.<\/p>\n","post_title":"Ripple-SEC Ruling \u2018A Win\u2019 For Crypto Industry But Regulatory War Not Over, JP Morgan Says","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-sec-ruling-a-win-for-crypto-industry-but-regulatory-war-not-over-jp-morgan-says","to_ping":"","pinged":"","post_modified":"2023-07-15 23:36:25","post_modified_gmt":"2023-07-15 13:36:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11929,"post_author":"15","post_date":"2023-06-08 22:45:46","post_date_gmt":"2023-06-08 12:45:46","post_content":"\n
Arbitrum, a layer 2 blockchain, halts the process of transactions due to funding issues. With over $2.24 billion in deposits, the network experiences an hour-long standstill due to gas shortage. <\/p>\n\n\n\n
Developers on the Arbitrum Discord server<\/a> faced connectivity issues with the network's sequencer. The software is responsible for bundling and confirming transactions on the Ethereum network.<\/p>\n\n\n\n
According to on-chain records<\/a>, the sequencer exhausted its supply of Ether, the native cryptocurrency of Ethereum used for transaction fees<\/a>. Without sufficient Ether to cover the fees, the sequencer could not process transactions on Ethereum, resulting in Arbitrum coming to a halt.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
What's Next to Arbitrum?<\/h2>\n\n\n\n
Following an hour-long period of transaction processing failure, Arbitrum has resumed its operations. A wallet that had previously transferred funds to the Arbitrum multi-signature wallet sent 1.4 Ether to the sequence. This replenishment enabled the sequencer to resume sending transactions to Ethereum.<\/p>\n\n\n\n
The cause behind the depletion of gas in Arbitrum's sequencer remains uncertain. Since its launch in May 2021, the sequencer has only been manually refuelled with Ether on four occasions.<\/p>\n\n\n\n
The recent event highlights the reliance of Arbitrum on a centralized control point. Offchain Labs, the company behind Arbitrum, has expressed its plans to decentralize the network's sequencer. <\/p>\n","post_title":"Arbitrum Faces Temporary Shutdown Due To Gas Shortage","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"arbitrum-faces-temporary-shutdown-due-to-gas-shortage","to_ping":"","pinged":"","post_modified":"2023-06-08 22:45:55","post_modified_gmt":"2023-06-08 12:45:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11929","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11770,"post_author":"13","post_date":"2023-05-18 00:31:26","post_date_gmt":"2023-05-17 14:31:26","post_content":"\n
\n
Judge Analisa Torres has declined a motion by the commission to seal essential documents in the legal tussle.  <\/li>\n\n\n\n
The price of the native XRP token has surged following the ruling.<\/li>\n<\/ul>\n\n\n\n
A US judge presiding over the case between Ripple and the Securities and Exchange Commission (SEC) has rejected a motion filed by the regulator to seal some of the essential documents.<\/p>\n\n\n\n
Judge Analisa Torres of the US District Court has disagreed<\/a> with SEC\u2019s move to seal Hinman\u2019s Speech documents, comprising emails, text messages, and expert reports, saying they were \u2018judicial documents\u2019 subject to a strong presumption of public access.<\/p>\n\n\n\n
As a recap, the SEC is suing<\/a> Ripple for selling unregistered securities. At the centre of the legal matter is a controversial speech by the former finance division director at the commission, William Hinman, who stated that Ether, the native cryptocurrency to the Ethereum blockchain, was not a security. The statement is believed to influence the much-awaited summary judgment considerably.<\/p>\n\n\n\n
The SEC\u2019s Position On The Matter<\/h2>\n\n\n\n
On December 22, the SEC filed a motion before Judge Torres to have all the documents containing Hinman\u2019s speech sealed from the public, saying they were irrelevant to the court\u2019s summary judgment. Further, the commission added that having the documents sealed preserved \u2018openness and candour\u2019, which the court has also rejected.<\/p>\n\n\n\n
\u2018\u2018Regardless of whether the court ultimately determines that the Hinman Speech Documents are admissible, or whether the court relies on the documents in ruling on the summary judgment motions, they are judicial documents subject to a strong presumption of public access because they are \u2018relevant to the performance of the judicial function and useful in the judicial process,'\" <\/em>read the ruling.<\/p>\n\n\n\n
XRP has added more than 5% in the past 24 hours following the development and was trading at $0.4487 at the time of writing. <\/p>\n","post_title":"Ripple Scores Major Victory In Case With The SEC As Court Denies Motion Filed By The Regulator","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-scores-major-victory-in-case-with-the-sec-as-court-denies-motion-filed-by-the-regulator","to_ping":"","pinged":"","post_modified":"2023-05-18 00:31:29","post_modified_gmt":"2023-05-17 14:31:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11770","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11728,"post_author":"12","post_date":"2023-05-15 16:06:43","post_date_gmt":"2023-05-15 06:06:43","post_content":"\n
A recent report<\/a> from Financial Times found that Worldcoin, a cryptocurrency project launched by OpenAI CEO Sam Altman, is close to securing $100M in funding. Those already backing the project include; a16z, Digital Currency Group and Coinbase Ventures; the new round of funding includes \u201cexisting and new investors.\u201d<\/em><\/p>\n\n\n\n
The project<\/a> was founded in 2020 by Sam Altman, Alex Blania, and Max Novendstern. With over 1,697,000 sign ups already, Worldcoin aims to build \"the world\u2019s largest identity and financial network as a public utility, giving ownership to everyone, [and] to create universal access to the global economy regardless of country or background, accelerating the transition to an economic future that welcomes and benefits every person on the planet.<\/em><\/p>\n\n\n\n
In March 2022, The Information\u00a0reported<\/a>\u00a0that the firm was looking to raise $100M\u00a0from investors through a private token sale, citing two people familiar with the situation. These sources stated that \u201cit\u2019s a bear market, a crypto winter. It\u2019s remarkable for a project in this space to get this amount of investment.\u201d<\/em><\/p>\n\n\n\n
Worldcoin Verification, Adoption, And Account Abstraction<\/h2>\n\n\n\nWorldcoin launched a gas-free crypto wallet in early May of 2023 called World App. This wallet relies on a system called World ID which uses zero-knowledge proofs to verify that you're a real human with either a phone number or iris scan. The gasless transactions rely upon account abstraction<\/a>, a popular protocol on Ethereum, under ERC-4337<\/a>.<\/p>\n\n\n\n
World App is also integrated with Uniswap, so users can swap currencies in the wallet.<\/p>\n\n\n\n
Worldcoin has been in its beta for some time now; within \"the next six weeks\" the blockchain protocol is expected to launch and with that, transactions will begin being recorded.<\/p>\n","post_title":"OpenAI's Sam Altman To Secure $100M For Worldcoin; Will Start Recording Transactions In 6 Weeks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openais-sam-altman-to-secure-100m-for-worldcoin-will-start-recording-transactions-in-6-weeks","to_ping":"","pinged":"","post_modified":"2023-05-15 16:06:46","post_modified_gmt":"2023-05-15 06:06:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11728","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11677,"post_author":"15","post_date":"2023-05-13 00:36:12","post_date_gmt":"2023-05-12 14:36:12","post_content":"\n
In the last 24 hours, $46.37 million worth of $PEPE has been deposited into exchanges. The meme coin has net deposits from 1,176 addresses amounting to $22.94 million. $PEPE has seen a significant drop of 31% in value, shrinking its market value to around $500 million, as reported <\/a>by ScopeProtocol.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/ScopeProtocol\/status\/1656916635134066688?s=20\n<\/div><\/figure>\n\n\n\n
$PEPE is a meme coin that has gained significant popularity in cryptocurrency. It has captured the attention of crypto enthusiasts and investors due to its unique and humorous nature.<\/p>\n\n\n\n
Despite its playful image, $PEPE has also experienced fluctuations in its market price. This volatility is characteristic of many memecoins, as trends, speculation, and the overall sentiment of the market can influence their prices.<\/p>\n\n\n\n
More On Memecoins<\/h2>\n\n\n\n
On May 11, 2023, @lookonchain<\/a>, a prominent cryptocurrency analyst, tweeted<\/a> about $PEPE and $LADYs (another meme coin). In his tweet, he praised how a cryptocurrency trader made huge profits trading meme coins. The trader bought $PEPE on Apr 18 and $LADYS before Elon Musk tweeted. In summary, his investment gained 36x on $PEPE and 35x on $LADYS. <\/p>\n\n\n\n
The meme coin phenomenon has emerged as a culture in the cryptocurrency space. We can notably refer to prominent meme coins like Dogecoin ($DOGE) and Shiba Inu ($SHIB). At the time of writing, these two cryptocurrencies ranked number 8 and number 15, respectively, according to Coinmarketcap. $DOGE and $SHIB have paved the way for other meme coins to gain traction in the crypto market.<\/p>\n","post_title":"Massive $PEPE Deposits Shake Crypto Exchanges; Market Value Plunges","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"massive-pepe-deposits-shake-crypto-exchanges-market-value-plunges","to_ping":"","pinged":"","post_modified":"2023-05-13 00:36:16","post_modified_gmt":"2023-05-12 14:36:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11677","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11401,"post_author":"13","post_date":"2023-05-02 11:29:00","post_date_gmt":"2023-05-02 01:29:00","post_content":"\n
\n
SUI farming will open for two days on BNB and TUSD pools beginning May 1.<\/li>\n\n\n\n
The token is expected to list afterward on Binance against BTC, USDT, TUSD, and BNB.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Binance has unveiled its 33rd project on Binance Luanchpoool, Sui, that allows users to farm SUI tokens using staked BNB and TrueUSD (TUSD).<\/p>\n\n\n\n
According to the announcement<\/a> on April 30, the farming of SUI tokens would run for 2 days beginning May 1. After that, the asset would be listed on Binance under trading pairs SUI\/BTC, SUI\/USDT, SUITUSD, and SUI\/BNB, subject to the relevant liquidity requirements.<\/p>\n\n\n\n
40 million SUI tokens are set for launchpool token rewards, 0.4% of the total token supply of 10 billion. So far, more than 9 million BNB tokens have been staked on the BNB pool, while the TUSD pool has more than 450 million staked TUSD.<\/p>\n\n\n\n
DPoS Layer-1 Blockchain<\/h2>\n\n\n\n
Sui<\/a> operates as a delegated proof of stake (DPoS) layer-1 blockchain<\/a> written on the Move programming language. The project has since raised $300 million in a series B funding round backed by Binance Labs and Coinbase - bringing its valuation to $2 billion.<\/p>\n\n\n\n
The project, hyped by its community of supporters as the \u2018Ethereum Killer\u2019<\/em>, uses a unique technology involving a parallel data model and execution engine to enhance transaction scaling. Besides, the blockchain employs an object-centric model for processing parallel transactions.<\/p>\n\n\n\n
The unveiling has pumped the price of Binance\u2019s native BNB token upwards despite a bearish market momentum. At press time, the token was changing hands for $333, representing a jump of 3% in the past day.<\/p>\n","post_title":"Binance Launches SUI Farming With Staked BNB And TrueUSD","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-launches-sui-farming-with-staked-bnb-and-trueusd","to_ping":"","pinged":"","post_modified":"2023-05-04 13:03:20","post_modified_gmt":"2023-05-04 03:03:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
\n
Shibarium has resumed withdrawals of ecosystem tokens.<\/li>\n\n\n\n
Shibarium is expected to welcome a new era of gaming, DeFi, and metaverse applications.<\/li>\n<\/ul>\n\n\n\n
Shiba Inu developers have announced<\/a> that \u201cShibarium is live and operating well.\u201d<\/em> The Monday update stated, \u201cnow that we've proven that all funds are safe (as we said) and that Shibarium is ready for prime time, we will reopen our channels.\u201d<\/em><\/p>\n\n\n\n
The developers informed the community of the resumption of token withdrawals. Users can withdraw Shiba ecosystem tokens in a period ranging from minutes to days.<\/p>\n\n\n\n
Shib (SHIB), wrapped ether (wETH), and leash (LEASH) tokens will take approximately 45 minutes to 3 hours to withdraw. Bone (BONE) withdrawals will be processed in up to 7 days.<\/p>\n\n\n\n
The withdrawals come following initial bottlenecks after Shibarium officially launched on August 16. An influx of transactions is said to have resulted in network issues that saw millions of dollars trapped. The events triggered sharp bear actions on the market, with Shiba Inu crushing up to 10%. <\/p>\n\n\n\n
Shiba Inu lead developer Shytoshi Kusama reassured users that the team had implemented measures to prevent future outages. Kusama said that Shibarium had witnessed over 65,000 wallets and 350,000 transactions before the Monday update. <\/p>\n\n\n\n
Shibarium To Make Shiba Inu A Serious Blockchain Project<\/h2>\n\n\n\nShibarium is expected to usher in a new era for Shiba Inu, with broader applications in gaming, DeFi, and the metaverse. The layer-2 network<\/a> will have seamless interaction with the primary Layer-1 Ethereum blockchain. <\/p>\n\n\n\n
With the integration, Shibarium will address Ethereum\u2019s high gas fees<\/a> and slow transactions. The scalability increases the usability of the Shiba Inu token, helping it play a greater role in the blockchain ecosystem. <\/p>\n\n\n\n
Shibarium has been a success so far. About 22 million transactions were performed over its four-month testing period. Investors hold big expectations of the ecosystem tokens due to the Shibarium benefits. <\/p>\n","post_title":"Shiba Inu\u2019s Shibarium Bridge Goes Fully Functional After A Shaky Start","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"shiba-inus-shibarium-bridge-goes-fully-functional-after-a-shaky-start","to_ping":"","pinged":"","post_modified":"2023-08-29 23:52:56","post_modified_gmt":"2023-08-29 13:52:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13144","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":12829,"post_author":"15","post_date":"2023-08-03 15:25:08","post_date_gmt":"2023-08-03 05:25:08","post_content":"\n
On Sunday, attackers targeted decentralized finance protocols, stealing over $24 million in cryptocurrency. The attackers exploited a vulnerability in Curve, the automated market maker platform's liquidity pools. <\/p>\n\n\n\n
According to Curve on Twitter<\/a>, the vulnerability was traced back to Vyper, an alternative third-party programming language for Ethereum smart contracts. Curve confirmed that other liquidity pools that do not use this language remain unaffected and secure.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/CurveFinance\/status\/1685693202722848768?s=20\n<\/div><\/figure>\n\n\n\n
Decurity, a decentralized finance security firm, revealed <\/a>that the NFT lending protocol JPEG'd suffered an $11 million cryptocurrency theft. JPEG'd was one of the first to detect the problem in its Curve pool.<\/p>\n\n\n\n
Exploit's Root Cause<\/h2>\n\n\n\n
Curve initially referred to the vulnerability as a typical \"re-entrance\" attack in a Tweet that has since been deleted. Re-entrancy attacks occur when a smart contract interacts with another, leading to incomplete execution.<\/p>\n\n\n\n
Re-entrancy vulnerabilities enable attackers to execute multiple calls in a single function, leading smart contracts to calculate incorrect balances. The $55 million 2016 DAO hack on Ethereum is a notable example.<\/p>\n\n\n\n
Curve initially responded to a Twitter account with a retracted statement, but later clarified their error. Curve confirmed that no wrongdoing occurred for projects integrating Vyper or its users.<\/p>\n\n\n\n
According to Vyper on Twitter, the language's compiler failed, affecting re-entry guards. These guards, included in the projects' code, are designed to protect against re-entry attacks but were ineffective.<\/p>\n\n\n\n
This prevented re-entry guards\u2014protections that were included in the projects\u2019 code and should guard against re-entry attacks\u2014from working, Meir Dolev said to Decrypt. Meir Dolev is the co-founder and CTO of cybersecurity firm Cyvers<\/p>\n","post_title":"DeFi Projects Suffer $24 Million Heist In Curve Pool Exploits","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"defi-projects-suffer-24-million-heist-in-curve-pool-exploits","to_ping":"","pinged":"","post_modified":"2023-08-03 15:25:13","post_modified_gmt":"2023-08-03 05:25:13","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12829","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":12708,"post_author":"21","post_date":"2023-07-25 23:28:55","post_date_gmt":"2023-07-25 13:28:55","post_content":"\n
\n
Worldcoin token, WLD, rose by four-digit percentages after launch and listing on Monday.<\/li>\n\n\n\n
Worldcoin promises biometric proof of identity amid the growing usage of AI.<\/li>\n<\/ul>\n\n\n\n
WLD, the token of the controversial identity-providing crypto project Worldcoin, launched<\/a> on Monday, July 24. Binance announced<\/a> it had listed the token, welcoming users to participate in new trading pairs WLD\/BTC and WLD\/USDT.<\/p>\n\n\n\n
The listing was a significant milestone for WLD as the token generated a frenzy afterwards, rising by four-digit percentages. Binance said that token withdrawal will begin on July 25, 2023, at 17:00 Eastern Eighth District Time. Other exchanges that listed the token were OKX, Huobi, and Bybit.\u00a0<\/p>\n\n\n\n
Worldcoin<\/a> plans to control almost 20% of tokens. The team will use the money for orb production, maintenance, and ecosystem development.<\/p>\n\n\n\n
Worldcoin to provide digital proof of identity<\/h2>\n\n\n\n
Worldcoin has been the centre of attention due to its promise of a biometric proof of identity. Sam Altman, CEO of OpenAI<\/a>, the firm behind ChatGPT, created the crypto project. Altman says World IDs are needed in this era of generative chatbots like ChatGPT.<\/p>\n\n\n\n
Worldcoin uses a device called \"The Orb\" to scan people's irises, generating a personally identifiable Worldcoin ID. The functionality has, however, been criticized for potential security and privacy violations. <\/p>\n\n\n\n
Altman believes Worldcoin would offer a reliable way to distinguish humans from bots while protecting privacy. It will also reduce fraud since only real people can own World IDs.<\/p>\n\n\n\n
Meanwhile, Altman is eyeing a global expansion, with the OpenAI CEO targeting up to 2 billion users. The project has already earned over 2 million users from the beta sign-up period.  <\/p>\n","post_title":"Binance Lists OpenAI-Affiliated Worldcoin Amid High Market Speculation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-lists-openai-affiliated-worldcoin-amid-high-market-speculation","to_ping":"","pinged":"","post_modified":"2023-07-25 23:29:00","post_modified_gmt":"2023-07-25 13:29:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12708","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":12524,"post_author":"1","post_date":"2023-07-15 23:36:16","post_date_gmt":"2023-07-15 13:36:16","post_content":"\n
\n
Ripple scored a landmark victory over the regulator on Thursday.<\/li>\n\n\n\n
The prolonged legal battle is expected to shape the regulations for digital assets.<\/li>\n<\/ul>\n\n\n\n
JP Morgan viewed the court ruling for Ripple as a significant victory. However, according to the investment banking giant, the regulations by enforcement are far from over. <\/p>\n\n\n\n
On Thursday, the US Southern District Court ruled partially in favor of Ripple, the FinTech company that issues XRP. The SEC and Ripple's 2-year legal battle concluded with the ruling that cryptocurrency issuance on exchanges is not an investment contract.<\/p>\n\n\n\n
\"This ruling is undoubtedly a milestone win for the industry. It provides legal clarity and defense around what does and does not constitute a security, and that overall outcome is in favor of what many in the industry had been arguing,\"<\/em> JP Morgan wrote<\/a> in the note seen by Coindesk.<\/p>\n\n\n\n
Following the landmark ruling, the price of cryptocurrencies soared as sentiment changed in the digital asset space. The cost of XRP rose by about 70%, while Bitcoin reached its highest level in more than a year.<\/p>\n\n\n\n
SEC's Next Step<\/h2>\n\n\n\n
However, according to JPMorgan, the ruling may not be the end of what has come to be termed as regulations by enforcement by the SEC, as the regulator could appeal the case or bring similar charges against other cryptocurrency companies.<\/p>\n\n\n\n
In June, Binance, the leading crypto exchange, faced 13 charges from the SEC, one being the sale of unauthorized securities. The regulator sued Coinbase, the largest US cryptocurrency exchange, for security law violations. <\/p>\n\n\n\n
At the start of the year, the SEC brought charges<\/a> against Gemini and Genesis for allegedly violating the securities regulations related to crypto lending. In February, it\u00a0 fined crypto exchange Kraken<\/a>\u00a0$30 million and ordered the platform to cease offering staking services to US users.<\/p>\n","post_title":"Ripple-SEC Ruling \u2018A Win\u2019 For Crypto Industry But Regulatory War Not Over, JP Morgan Says","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-sec-ruling-a-win-for-crypto-industry-but-regulatory-war-not-over-jp-morgan-says","to_ping":"","pinged":"","post_modified":"2023-07-15 23:36:25","post_modified_gmt":"2023-07-15 13:36:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11929,"post_author":"15","post_date":"2023-06-08 22:45:46","post_date_gmt":"2023-06-08 12:45:46","post_content":"\n
Arbitrum, a layer 2 blockchain, halts the process of transactions due to funding issues. With over $2.24 billion in deposits, the network experiences an hour-long standstill due to gas shortage. <\/p>\n\n\n\n
Developers on the Arbitrum Discord server<\/a> faced connectivity issues with the network's sequencer. The software is responsible for bundling and confirming transactions on the Ethereum network.<\/p>\n\n\n\n
According to on-chain records<\/a>, the sequencer exhausted its supply of Ether, the native cryptocurrency of Ethereum used for transaction fees<\/a>. Without sufficient Ether to cover the fees, the sequencer could not process transactions on Ethereum, resulting in Arbitrum coming to a halt.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
What's Next to Arbitrum?<\/h2>\n\n\n\n
Following an hour-long period of transaction processing failure, Arbitrum has resumed its operations. A wallet that had previously transferred funds to the Arbitrum multi-signature wallet sent 1.4 Ether to the sequence. This replenishment enabled the sequencer to resume sending transactions to Ethereum.<\/p>\n\n\n\n
The cause behind the depletion of gas in Arbitrum's sequencer remains uncertain. Since its launch in May 2021, the sequencer has only been manually refuelled with Ether on four occasions.<\/p>\n\n\n\n
The recent event highlights the reliance of Arbitrum on a centralized control point. Offchain Labs, the company behind Arbitrum, has expressed its plans to decentralize the network's sequencer. <\/p>\n","post_title":"Arbitrum Faces Temporary Shutdown Due To Gas Shortage","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"arbitrum-faces-temporary-shutdown-due-to-gas-shortage","to_ping":"","pinged":"","post_modified":"2023-06-08 22:45:55","post_modified_gmt":"2023-06-08 12:45:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11929","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11770,"post_author":"13","post_date":"2023-05-18 00:31:26","post_date_gmt":"2023-05-17 14:31:26","post_content":"\n
\n
Judge Analisa Torres has declined a motion by the commission to seal essential documents in the legal tussle.  <\/li>\n\n\n\n
The price of the native XRP token has surged following the ruling.<\/li>\n<\/ul>\n\n\n\n
A US judge presiding over the case between Ripple and the Securities and Exchange Commission (SEC) has rejected a motion filed by the regulator to seal some of the essential documents.<\/p>\n\n\n\n
Judge Analisa Torres of the US District Court has disagreed<\/a> with SEC\u2019s move to seal Hinman\u2019s Speech documents, comprising emails, text messages, and expert reports, saying they were \u2018judicial documents\u2019 subject to a strong presumption of public access.<\/p>\n\n\n\n
As a recap, the SEC is suing<\/a> Ripple for selling unregistered securities. At the centre of the legal matter is a controversial speech by the former finance division director at the commission, William Hinman, who stated that Ether, the native cryptocurrency to the Ethereum blockchain, was not a security. The statement is believed to influence the much-awaited summary judgment considerably.<\/p>\n\n\n\n
The SEC\u2019s Position On The Matter<\/h2>\n\n\n\n
On December 22, the SEC filed a motion before Judge Torres to have all the documents containing Hinman\u2019s speech sealed from the public, saying they were irrelevant to the court\u2019s summary judgment. Further, the commission added that having the documents sealed preserved \u2018openness and candour\u2019, which the court has also rejected.<\/p>\n\n\n\n
\u2018\u2018Regardless of whether the court ultimately determines that the Hinman Speech Documents are admissible, or whether the court relies on the documents in ruling on the summary judgment motions, they are judicial documents subject to a strong presumption of public access because they are \u2018relevant to the performance of the judicial function and useful in the judicial process,'\" <\/em>read the ruling.<\/p>\n\n\n\n
XRP has added more than 5% in the past 24 hours following the development and was trading at $0.4487 at the time of writing. <\/p>\n","post_title":"Ripple Scores Major Victory In Case With The SEC As Court Denies Motion Filed By The Regulator","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-scores-major-victory-in-case-with-the-sec-as-court-denies-motion-filed-by-the-regulator","to_ping":"","pinged":"","post_modified":"2023-05-18 00:31:29","post_modified_gmt":"2023-05-17 14:31:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11770","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11728,"post_author":"12","post_date":"2023-05-15 16:06:43","post_date_gmt":"2023-05-15 06:06:43","post_content":"\n
A recent report<\/a> from Financial Times found that Worldcoin, a cryptocurrency project launched by OpenAI CEO Sam Altman, is close to securing $100M in funding. Those already backing the project include; a16z, Digital Currency Group and Coinbase Ventures; the new round of funding includes \u201cexisting and new investors.\u201d<\/em><\/p>\n\n\n\n
The project<\/a> was founded in 2020 by Sam Altman, Alex Blania, and Max Novendstern. With over 1,697,000 sign ups already, Worldcoin aims to build \"the world\u2019s largest identity and financial network as a public utility, giving ownership to everyone, [and] to create universal access to the global economy regardless of country or background, accelerating the transition to an economic future that welcomes and benefits every person on the planet.<\/em><\/p>\n\n\n\n
In March 2022, The Information\u00a0reported<\/a>\u00a0that the firm was looking to raise $100M\u00a0from investors through a private token sale, citing two people familiar with the situation. These sources stated that \u201cit\u2019s a bear market, a crypto winter. It\u2019s remarkable for a project in this space to get this amount of investment.\u201d<\/em><\/p>\n\n\n\n
Worldcoin Verification, Adoption, And Account Abstraction<\/h2>\n\n\n\nWorldcoin launched a gas-free crypto wallet in early May of 2023 called World App. This wallet relies on a system called World ID which uses zero-knowledge proofs to verify that you're a real human with either a phone number or iris scan. The gasless transactions rely upon account abstraction<\/a>, a popular protocol on Ethereum, under ERC-4337<\/a>.<\/p>\n\n\n\n
World App is also integrated with Uniswap, so users can swap currencies in the wallet.<\/p>\n\n\n\n
Worldcoin has been in its beta for some time now; within \"the next six weeks\" the blockchain protocol is expected to launch and with that, transactions will begin being recorded.<\/p>\n","post_title":"OpenAI's Sam Altman To Secure $100M For Worldcoin; Will Start Recording Transactions In 6 Weeks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openais-sam-altman-to-secure-100m-for-worldcoin-will-start-recording-transactions-in-6-weeks","to_ping":"","pinged":"","post_modified":"2023-05-15 16:06:46","post_modified_gmt":"2023-05-15 06:06:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11728","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11677,"post_author":"15","post_date":"2023-05-13 00:36:12","post_date_gmt":"2023-05-12 14:36:12","post_content":"\n
In the last 24 hours, $46.37 million worth of $PEPE has been deposited into exchanges. The meme coin has net deposits from 1,176 addresses amounting to $22.94 million. $PEPE has seen a significant drop of 31% in value, shrinking its market value to around $500 million, as reported <\/a>by ScopeProtocol.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/ScopeProtocol\/status\/1656916635134066688?s=20\n<\/div><\/figure>\n\n\n\n
$PEPE is a meme coin that has gained significant popularity in cryptocurrency. It has captured the attention of crypto enthusiasts and investors due to its unique and humorous nature.<\/p>\n\n\n\n
Despite its playful image, $PEPE has also experienced fluctuations in its market price. This volatility is characteristic of many memecoins, as trends, speculation, and the overall sentiment of the market can influence their prices.<\/p>\n\n\n\n
More On Memecoins<\/h2>\n\n\n\n
On May 11, 2023, @lookonchain<\/a>, a prominent cryptocurrency analyst, tweeted<\/a> about $PEPE and $LADYs (another meme coin). In his tweet, he praised how a cryptocurrency trader made huge profits trading meme coins. The trader bought $PEPE on Apr 18 and $LADYS before Elon Musk tweeted. In summary, his investment gained 36x on $PEPE and 35x on $LADYS. <\/p>\n\n\n\n
The meme coin phenomenon has emerged as a culture in the cryptocurrency space. We can notably refer to prominent meme coins like Dogecoin ($DOGE) and Shiba Inu ($SHIB). At the time of writing, these two cryptocurrencies ranked number 8 and number 15, respectively, according to Coinmarketcap. $DOGE and $SHIB have paved the way for other meme coins to gain traction in the crypto market.<\/p>\n","post_title":"Massive $PEPE Deposits Shake Crypto Exchanges; Market Value Plunges","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"massive-pepe-deposits-shake-crypto-exchanges-market-value-plunges","to_ping":"","pinged":"","post_modified":"2023-05-13 00:36:16","post_modified_gmt":"2023-05-12 14:36:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11677","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11401,"post_author":"13","post_date":"2023-05-02 11:29:00","post_date_gmt":"2023-05-02 01:29:00","post_content":"\n
\n
SUI farming will open for two days on BNB and TUSD pools beginning May 1.<\/li>\n\n\n\n
The token is expected to list afterward on Binance against BTC, USDT, TUSD, and BNB.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Binance has unveiled its 33rd project on Binance Luanchpoool, Sui, that allows users to farm SUI tokens using staked BNB and TrueUSD (TUSD).<\/p>\n\n\n\n
According to the announcement<\/a> on April 30, the farming of SUI tokens would run for 2 days beginning May 1. After that, the asset would be listed on Binance under trading pairs SUI\/BTC, SUI\/USDT, SUITUSD, and SUI\/BNB, subject to the relevant liquidity requirements.<\/p>\n\n\n\n
40 million SUI tokens are set for launchpool token rewards, 0.4% of the total token supply of 10 billion. So far, more than 9 million BNB tokens have been staked on the BNB pool, while the TUSD pool has more than 450 million staked TUSD.<\/p>\n\n\n\n
DPoS Layer-1 Blockchain<\/h2>\n\n\n\n
Sui<\/a> operates as a delegated proof of stake (DPoS) layer-1 blockchain<\/a> written on the Move programming language. The project has since raised $300 million in a series B funding round backed by Binance Labs and Coinbase - bringing its valuation to $2 billion.<\/p>\n\n\n\n
The project, hyped by its community of supporters as the \u2018Ethereum Killer\u2019<\/em>, uses a unique technology involving a parallel data model and execution engine to enhance transaction scaling. Besides, the blockchain employs an object-centric model for processing parallel transactions.<\/p>\n\n\n\n
The unveiling has pumped the price of Binance\u2019s native BNB token upwards despite a bearish market momentum. At press time, the token was changing hands for $333, representing a jump of 3% in the past day.<\/p>\n","post_title":"Binance Launches SUI Farming With Staked BNB And TrueUSD","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-launches-sui-farming-with-staked-bnb-and-trueusd","to_ping":"","pinged":"","post_modified":"2023-05-04 13:03:20","post_modified_gmt":"2023-05-04 03:03:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
The SEC\u2019s actions in 2023 have extended beyond Ripple, targeting multiple cryptocurrency firms over alleged securities violations, including Binance and Coinbase. In a recent development, asset manager Grayscale achieved a court victory<\/a> against the SEC, leading to a review of its application for spot Bitcoin exchange-traded fund (ETF), Reuters<\/em> reported.  <\/p>\n","post_title":"Ripple Challenges SEC\u2019s Bid For Appeal In Legal Battle","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-challenges-secs-bid-for-appeal-in-legal-battle","to_ping":"","pinged":"","post_modified":"2023-09-03 12:11:59","post_modified_gmt":"2023-09-03 02:11:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13226","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":13144,"post_author":"21","post_date":"2023-08-29 23:38:34","post_date_gmt":"2023-08-29 13:38:34","post_content":"\n
\n
Shibarium has resumed withdrawals of ecosystem tokens.<\/li>\n\n\n\n
Shibarium is expected to welcome a new era of gaming, DeFi, and metaverse applications.<\/li>\n<\/ul>\n\n\n\n
Shiba Inu developers have announced<\/a> that \u201cShibarium is live and operating well.\u201d<\/em> The Monday update stated, \u201cnow that we've proven that all funds are safe (as we said) and that Shibarium is ready for prime time, we will reopen our channels.\u201d<\/em><\/p>\n\n\n\n
The developers informed the community of the resumption of token withdrawals. Users can withdraw Shiba ecosystem tokens in a period ranging from minutes to days.<\/p>\n\n\n\n
Shib (SHIB), wrapped ether (wETH), and leash (LEASH) tokens will take approximately 45 minutes to 3 hours to withdraw. Bone (BONE) withdrawals will be processed in up to 7 days.<\/p>\n\n\n\n
The withdrawals come following initial bottlenecks after Shibarium officially launched on August 16. An influx of transactions is said to have resulted in network issues that saw millions of dollars trapped. The events triggered sharp bear actions on the market, with Shiba Inu crushing up to 10%. <\/p>\n\n\n\n
Shiba Inu lead developer Shytoshi Kusama reassured users that the team had implemented measures to prevent future outages. Kusama said that Shibarium had witnessed over 65,000 wallets and 350,000 transactions before the Monday update. <\/p>\n\n\n\n
Shibarium To Make Shiba Inu A Serious Blockchain Project<\/h2>\n\n\n\nShibarium is expected to usher in a new era for Shiba Inu, with broader applications in gaming, DeFi, and the metaverse. The layer-2 network<\/a> will have seamless interaction with the primary Layer-1 Ethereum blockchain. <\/p>\n\n\n\n
With the integration, Shibarium will address Ethereum\u2019s high gas fees<\/a> and slow transactions. The scalability increases the usability of the Shiba Inu token, helping it play a greater role in the blockchain ecosystem. <\/p>\n\n\n\n
Shibarium has been a success so far. About 22 million transactions were performed over its four-month testing period. Investors hold big expectations of the ecosystem tokens due to the Shibarium benefits. <\/p>\n","post_title":"Shiba Inu\u2019s Shibarium Bridge Goes Fully Functional After A Shaky Start","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"shiba-inus-shibarium-bridge-goes-fully-functional-after-a-shaky-start","to_ping":"","pinged":"","post_modified":"2023-08-29 23:52:56","post_modified_gmt":"2023-08-29 13:52:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13144","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":12829,"post_author":"15","post_date":"2023-08-03 15:25:08","post_date_gmt":"2023-08-03 05:25:08","post_content":"\n
On Sunday, attackers targeted decentralized finance protocols, stealing over $24 million in cryptocurrency. The attackers exploited a vulnerability in Curve, the automated market maker platform's liquidity pools. <\/p>\n\n\n\n
According to Curve on Twitter<\/a>, the vulnerability was traced back to Vyper, an alternative third-party programming language for Ethereum smart contracts. Curve confirmed that other liquidity pools that do not use this language remain unaffected and secure.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/CurveFinance\/status\/1685693202722848768?s=20\n<\/div><\/figure>\n\n\n\n
Decurity, a decentralized finance security firm, revealed <\/a>that the NFT lending protocol JPEG'd suffered an $11 million cryptocurrency theft. JPEG'd was one of the first to detect the problem in its Curve pool.<\/p>\n\n\n\n
Exploit's Root Cause<\/h2>\n\n\n\n
Curve initially referred to the vulnerability as a typical \"re-entrance\" attack in a Tweet that has since been deleted. Re-entrancy attacks occur when a smart contract interacts with another, leading to incomplete execution.<\/p>\n\n\n\n
Re-entrancy vulnerabilities enable attackers to execute multiple calls in a single function, leading smart contracts to calculate incorrect balances. The $55 million 2016 DAO hack on Ethereum is a notable example.<\/p>\n\n\n\n
Curve initially responded to a Twitter account with a retracted statement, but later clarified their error. Curve confirmed that no wrongdoing occurred for projects integrating Vyper or its users.<\/p>\n\n\n\n
According to Vyper on Twitter, the language's compiler failed, affecting re-entry guards. These guards, included in the projects' code, are designed to protect against re-entry attacks but were ineffective.<\/p>\n\n\n\n
This prevented re-entry guards\u2014protections that were included in the projects\u2019 code and should guard against re-entry attacks\u2014from working, Meir Dolev said to Decrypt. Meir Dolev is the co-founder and CTO of cybersecurity firm Cyvers<\/p>\n","post_title":"DeFi Projects Suffer $24 Million Heist In Curve Pool Exploits","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"defi-projects-suffer-24-million-heist-in-curve-pool-exploits","to_ping":"","pinged":"","post_modified":"2023-08-03 15:25:13","post_modified_gmt":"2023-08-03 05:25:13","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12829","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":12708,"post_author":"21","post_date":"2023-07-25 23:28:55","post_date_gmt":"2023-07-25 13:28:55","post_content":"\n
\n
Worldcoin token, WLD, rose by four-digit percentages after launch and listing on Monday.<\/li>\n\n\n\n
Worldcoin promises biometric proof of identity amid the growing usage of AI.<\/li>\n<\/ul>\n\n\n\n
WLD, the token of the controversial identity-providing crypto project Worldcoin, launched<\/a> on Monday, July 24. Binance announced<\/a> it had listed the token, welcoming users to participate in new trading pairs WLD\/BTC and WLD\/USDT.<\/p>\n\n\n\n
The listing was a significant milestone for WLD as the token generated a frenzy afterwards, rising by four-digit percentages. Binance said that token withdrawal will begin on July 25, 2023, at 17:00 Eastern Eighth District Time. Other exchanges that listed the token were OKX, Huobi, and Bybit.\u00a0<\/p>\n\n\n\n
Worldcoin<\/a> plans to control almost 20% of tokens. The team will use the money for orb production, maintenance, and ecosystem development.<\/p>\n\n\n\n
Worldcoin to provide digital proof of identity<\/h2>\n\n\n\n
Worldcoin has been the centre of attention due to its promise of a biometric proof of identity. Sam Altman, CEO of OpenAI<\/a>, the firm behind ChatGPT, created the crypto project. Altman says World IDs are needed in this era of generative chatbots like ChatGPT.<\/p>\n\n\n\n
Worldcoin uses a device called \"The Orb\" to scan people's irises, generating a personally identifiable Worldcoin ID. The functionality has, however, been criticized for potential security and privacy violations. <\/p>\n\n\n\n
Altman believes Worldcoin would offer a reliable way to distinguish humans from bots while protecting privacy. It will also reduce fraud since only real people can own World IDs.<\/p>\n\n\n\n
Meanwhile, Altman is eyeing a global expansion, with the OpenAI CEO targeting up to 2 billion users. The project has already earned over 2 million users from the beta sign-up period.  <\/p>\n","post_title":"Binance Lists OpenAI-Affiliated Worldcoin Amid High Market Speculation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-lists-openai-affiliated-worldcoin-amid-high-market-speculation","to_ping":"","pinged":"","post_modified":"2023-07-25 23:29:00","post_modified_gmt":"2023-07-25 13:29:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12708","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":12524,"post_author":"1","post_date":"2023-07-15 23:36:16","post_date_gmt":"2023-07-15 13:36:16","post_content":"\n
\n
Ripple scored a landmark victory over the regulator on Thursday.<\/li>\n\n\n\n
The prolonged legal battle is expected to shape the regulations for digital assets.<\/li>\n<\/ul>\n\n\n\n
JP Morgan viewed the court ruling for Ripple as a significant victory. However, according to the investment banking giant, the regulations by enforcement are far from over. <\/p>\n\n\n\n
On Thursday, the US Southern District Court ruled partially in favor of Ripple, the FinTech company that issues XRP. The SEC and Ripple's 2-year legal battle concluded with the ruling that cryptocurrency issuance on exchanges is not an investment contract.<\/p>\n\n\n\n
\"This ruling is undoubtedly a milestone win for the industry. It provides legal clarity and defense around what does and does not constitute a security, and that overall outcome is in favor of what many in the industry had been arguing,\"<\/em> JP Morgan wrote<\/a> in the note seen by Coindesk.<\/p>\n\n\n\n
Following the landmark ruling, the price of cryptocurrencies soared as sentiment changed in the digital asset space. The cost of XRP rose by about 70%, while Bitcoin reached its highest level in more than a year.<\/p>\n\n\n\n
SEC's Next Step<\/h2>\n\n\n\n
However, according to JPMorgan, the ruling may not be the end of what has come to be termed as regulations by enforcement by the SEC, as the regulator could appeal the case or bring similar charges against other cryptocurrency companies.<\/p>\n\n\n\n
In June, Binance, the leading crypto exchange, faced 13 charges from the SEC, one being the sale of unauthorized securities. The regulator sued Coinbase, the largest US cryptocurrency exchange, for security law violations. <\/p>\n\n\n\n
At the start of the year, the SEC brought charges<\/a> against Gemini and Genesis for allegedly violating the securities regulations related to crypto lending. In February, it\u00a0 fined crypto exchange Kraken<\/a>\u00a0$30 million and ordered the platform to cease offering staking services to US users.<\/p>\n","post_title":"Ripple-SEC Ruling \u2018A Win\u2019 For Crypto Industry But Regulatory War Not Over, JP Morgan Says","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-sec-ruling-a-win-for-crypto-industry-but-regulatory-war-not-over-jp-morgan-says","to_ping":"","pinged":"","post_modified":"2023-07-15 23:36:25","post_modified_gmt":"2023-07-15 13:36:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11929,"post_author":"15","post_date":"2023-06-08 22:45:46","post_date_gmt":"2023-06-08 12:45:46","post_content":"\n
Arbitrum, a layer 2 blockchain, halts the process of transactions due to funding issues. With over $2.24 billion in deposits, the network experiences an hour-long standstill due to gas shortage. <\/p>\n\n\n\n
Developers on the Arbitrum Discord server<\/a> faced connectivity issues with the network's sequencer. The software is responsible for bundling and confirming transactions on the Ethereum network.<\/p>\n\n\n\n
According to on-chain records<\/a>, the sequencer exhausted its supply of Ether, the native cryptocurrency of Ethereum used for transaction fees<\/a>. Without sufficient Ether to cover the fees, the sequencer could not process transactions on Ethereum, resulting in Arbitrum coming to a halt.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
What's Next to Arbitrum?<\/h2>\n\n\n\n
Following an hour-long period of transaction processing failure, Arbitrum has resumed its operations. A wallet that had previously transferred funds to the Arbitrum multi-signature wallet sent 1.4 Ether to the sequence. This replenishment enabled the sequencer to resume sending transactions to Ethereum.<\/p>\n\n\n\n
The cause behind the depletion of gas in Arbitrum's sequencer remains uncertain. Since its launch in May 2021, the sequencer has only been manually refuelled with Ether on four occasions.<\/p>\n\n\n\n
The recent event highlights the reliance of Arbitrum on a centralized control point. Offchain Labs, the company behind Arbitrum, has expressed its plans to decentralize the network's sequencer. <\/p>\n","post_title":"Arbitrum Faces Temporary Shutdown Due To Gas Shortage","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"arbitrum-faces-temporary-shutdown-due-to-gas-shortage","to_ping":"","pinged":"","post_modified":"2023-06-08 22:45:55","post_modified_gmt":"2023-06-08 12:45:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11929","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11770,"post_author":"13","post_date":"2023-05-18 00:31:26","post_date_gmt":"2023-05-17 14:31:26","post_content":"\n
\n
Judge Analisa Torres has declined a motion by the commission to seal essential documents in the legal tussle.  <\/li>\n\n\n\n
The price of the native XRP token has surged following the ruling.<\/li>\n<\/ul>\n\n\n\n
A US judge presiding over the case between Ripple and the Securities and Exchange Commission (SEC) has rejected a motion filed by the regulator to seal some of the essential documents.<\/p>\n\n\n\n
Judge Analisa Torres of the US District Court has disagreed<\/a> with SEC\u2019s move to seal Hinman\u2019s Speech documents, comprising emails, text messages, and expert reports, saying they were \u2018judicial documents\u2019 subject to a strong presumption of public access.<\/p>\n\n\n\n
As a recap, the SEC is suing<\/a> Ripple for selling unregistered securities. At the centre of the legal matter is a controversial speech by the former finance division director at the commission, William Hinman, who stated that Ether, the native cryptocurrency to the Ethereum blockchain, was not a security. The statement is believed to influence the much-awaited summary judgment considerably.<\/p>\n\n\n\n
The SEC\u2019s Position On The Matter<\/h2>\n\n\n\n
On December 22, the SEC filed a motion before Judge Torres to have all the documents containing Hinman\u2019s speech sealed from the public, saying they were irrelevant to the court\u2019s summary judgment. Further, the commission added that having the documents sealed preserved \u2018openness and candour\u2019, which the court has also rejected.<\/p>\n\n\n\n
\u2018\u2018Regardless of whether the court ultimately determines that the Hinman Speech Documents are admissible, or whether the court relies on the documents in ruling on the summary judgment motions, they are judicial documents subject to a strong presumption of public access because they are \u2018relevant to the performance of the judicial function and useful in the judicial process,'\" <\/em>read the ruling.<\/p>\n\n\n\n
XRP has added more than 5% in the past 24 hours following the development and was trading at $0.4487 at the time of writing. <\/p>\n","post_title":"Ripple Scores Major Victory In Case With The SEC As Court Denies Motion Filed By The Regulator","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-scores-major-victory-in-case-with-the-sec-as-court-denies-motion-filed-by-the-regulator","to_ping":"","pinged":"","post_modified":"2023-05-18 00:31:29","post_modified_gmt":"2023-05-17 14:31:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11770","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11728,"post_author":"12","post_date":"2023-05-15 16:06:43","post_date_gmt":"2023-05-15 06:06:43","post_content":"\n
A recent report<\/a> from Financial Times found that Worldcoin, a cryptocurrency project launched by OpenAI CEO Sam Altman, is close to securing $100M in funding. Those already backing the project include; a16z, Digital Currency Group and Coinbase Ventures; the new round of funding includes \u201cexisting and new investors.\u201d<\/em><\/p>\n\n\n\n
The project<\/a> was founded in 2020 by Sam Altman, Alex Blania, and Max Novendstern. With over 1,697,000 sign ups already, Worldcoin aims to build \"the world\u2019s largest identity and financial network as a public utility, giving ownership to everyone, [and] to create universal access to the global economy regardless of country or background, accelerating the transition to an economic future that welcomes and benefits every person on the planet.<\/em><\/p>\n\n\n\n
In March 2022, The Information\u00a0reported<\/a>\u00a0that the firm was looking to raise $100M\u00a0from investors through a private token sale, citing two people familiar with the situation. These sources stated that \u201cit\u2019s a bear market, a crypto winter. It\u2019s remarkable for a project in this space to get this amount of investment.\u201d<\/em><\/p>\n\n\n\n
Worldcoin Verification, Adoption, And Account Abstraction<\/h2>\n\n\n\nWorldcoin launched a gas-free crypto wallet in early May of 2023 called World App. This wallet relies on a system called World ID which uses zero-knowledge proofs to verify that you're a real human with either a phone number or iris scan. The gasless transactions rely upon account abstraction<\/a>, a popular protocol on Ethereum, under ERC-4337<\/a>.<\/p>\n\n\n\n
World App is also integrated with Uniswap, so users can swap currencies in the wallet.<\/p>\n\n\n\n
Worldcoin has been in its beta for some time now; within \"the next six weeks\" the blockchain protocol is expected to launch and with that, transactions will begin being recorded.<\/p>\n","post_title":"OpenAI's Sam Altman To Secure $100M For Worldcoin; Will Start Recording Transactions In 6 Weeks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openais-sam-altman-to-secure-100m-for-worldcoin-will-start-recording-transactions-in-6-weeks","to_ping":"","pinged":"","post_modified":"2023-05-15 16:06:46","post_modified_gmt":"2023-05-15 06:06:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11728","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11677,"post_author":"15","post_date":"2023-05-13 00:36:12","post_date_gmt":"2023-05-12 14:36:12","post_content":"\n
In the last 24 hours, $46.37 million worth of $PEPE has been deposited into exchanges. The meme coin has net deposits from 1,176 addresses amounting to $22.94 million. $PEPE has seen a significant drop of 31% in value, shrinking its market value to around $500 million, as reported <\/a>by ScopeProtocol.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/ScopeProtocol\/status\/1656916635134066688?s=20\n<\/div><\/figure>\n\n\n\n
$PEPE is a meme coin that has gained significant popularity in cryptocurrency. It has captured the attention of crypto enthusiasts and investors due to its unique and humorous nature.<\/p>\n\n\n\n
Despite its playful image, $PEPE has also experienced fluctuations in its market price. This volatility is characteristic of many memecoins, as trends, speculation, and the overall sentiment of the market can influence their prices.<\/p>\n\n\n\n
More On Memecoins<\/h2>\n\n\n\n
On May 11, 2023, @lookonchain<\/a>, a prominent cryptocurrency analyst, tweeted<\/a> about $PEPE and $LADYs (another meme coin). In his tweet, he praised how a cryptocurrency trader made huge profits trading meme coins. The trader bought $PEPE on Apr 18 and $LADYS before Elon Musk tweeted. In summary, his investment gained 36x on $PEPE and 35x on $LADYS. <\/p>\n\n\n\n
The meme coin phenomenon has emerged as a culture in the cryptocurrency space. We can notably refer to prominent meme coins like Dogecoin ($DOGE) and Shiba Inu ($SHIB). At the time of writing, these two cryptocurrencies ranked number 8 and number 15, respectively, according to Coinmarketcap. $DOGE and $SHIB have paved the way for other meme coins to gain traction in the crypto market.<\/p>\n","post_title":"Massive $PEPE Deposits Shake Crypto Exchanges; Market Value Plunges","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"massive-pepe-deposits-shake-crypto-exchanges-market-value-plunges","to_ping":"","pinged":"","post_modified":"2023-05-13 00:36:16","post_modified_gmt":"2023-05-12 14:36:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11677","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11401,"post_author":"13","post_date":"2023-05-02 11:29:00","post_date_gmt":"2023-05-02 01:29:00","post_content":"\n
\n
SUI farming will open for two days on BNB and TUSD pools beginning May 1.<\/li>\n\n\n\n
The token is expected to list afterward on Binance against BTC, USDT, TUSD, and BNB.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Binance has unveiled its 33rd project on Binance Luanchpoool, Sui, that allows users to farm SUI tokens using staked BNB and TrueUSD (TUSD).<\/p>\n\n\n\n
According to the announcement<\/a> on April 30, the farming of SUI tokens would run for 2 days beginning May 1. After that, the asset would be listed on Binance under trading pairs SUI\/BTC, SUI\/USDT, SUITUSD, and SUI\/BNB, subject to the relevant liquidity requirements.<\/p>\n\n\n\n
40 million SUI tokens are set for launchpool token rewards, 0.4% of the total token supply of 10 billion. So far, more than 9 million BNB tokens have been staked on the BNB pool, while the TUSD pool has more than 450 million staked TUSD.<\/p>\n\n\n\n
DPoS Layer-1 Blockchain<\/h2>\n\n\n\n
Sui<\/a> operates as a delegated proof of stake (DPoS) layer-1 blockchain<\/a> written on the Move programming language. The project has since raised $300 million in a series B funding round backed by Binance Labs and Coinbase - bringing its valuation to $2 billion.<\/p>\n\n\n\n
The project, hyped by its community of supporters as the \u2018Ethereum Killer\u2019<\/em>, uses a unique technology involving a parallel data model and execution engine to enhance transaction scaling. Besides, the blockchain employs an object-centric model for processing parallel transactions.<\/p>\n\n\n\n
The unveiling has pumped the price of Binance\u2019s native BNB token upwards despite a bearish market momentum. At press time, the token was changing hands for $333, representing a jump of 3% in the past day.<\/p>\n","post_title":"Binance Launches SUI Farming With Staked BNB And TrueUSD","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-launches-sui-farming-with-staked-bnb-and-trueusd","to_ping":"","pinged":"","post_modified":"2023-05-04 13:03:20","post_modified_gmt":"2023-05-04 03:03:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
The legal battle<\/a> between Ripple and the SEC has been ongoing since December 2020, when the SEC filed a lawsuit against Ripple, CEO Brad Garlinghouse, and co-founder Chris Larsen. The SEC accused them of raising over $1.3 billion through an unregistered security offering by selling the XRP. This legal clash prompted several cryptocurrency exchanges to delist the XRP token to mitigate potential legal risks.<\/p>\n\n\n\n
The SEC\u2019s actions in 2023 have extended beyond Ripple, targeting multiple cryptocurrency firms over alleged securities violations, including Binance and Coinbase. In a recent development, asset manager Grayscale achieved a court victory<\/a> against the SEC, leading to a review of its application for spot Bitcoin exchange-traded fund (ETF), Reuters<\/em> reported.  <\/p>\n","post_title":"Ripple Challenges SEC\u2019s Bid For Appeal In Legal Battle","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-challenges-secs-bid-for-appeal-in-legal-battle","to_ping":"","pinged":"","post_modified":"2023-09-03 12:11:59","post_modified_gmt":"2023-09-03 02:11:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13226","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":13144,"post_author":"21","post_date":"2023-08-29 23:38:34","post_date_gmt":"2023-08-29 13:38:34","post_content":"\n
\n
Shibarium has resumed withdrawals of ecosystem tokens.<\/li>\n\n\n\n
Shibarium is expected to welcome a new era of gaming, DeFi, and metaverse applications.<\/li>\n<\/ul>\n\n\n\n
Shiba Inu developers have announced<\/a> that \u201cShibarium is live and operating well.\u201d<\/em> The Monday update stated, \u201cnow that we've proven that all funds are safe (as we said) and that Shibarium is ready for prime time, we will reopen our channels.\u201d<\/em><\/p>\n\n\n\n
The developers informed the community of the resumption of token withdrawals. Users can withdraw Shiba ecosystem tokens in a period ranging from minutes to days.<\/p>\n\n\n\n
Shib (SHIB), wrapped ether (wETH), and leash (LEASH) tokens will take approximately 45 minutes to 3 hours to withdraw. Bone (BONE) withdrawals will be processed in up to 7 days.<\/p>\n\n\n\n
The withdrawals come following initial bottlenecks after Shibarium officially launched on August 16. An influx of transactions is said to have resulted in network issues that saw millions of dollars trapped. The events triggered sharp bear actions on the market, with Shiba Inu crushing up to 10%. <\/p>\n\n\n\n
Shiba Inu lead developer Shytoshi Kusama reassured users that the team had implemented measures to prevent future outages. Kusama said that Shibarium had witnessed over 65,000 wallets and 350,000 transactions before the Monday update. <\/p>\n\n\n\n
Shibarium To Make Shiba Inu A Serious Blockchain Project<\/h2>\n\n\n\nShibarium is expected to usher in a new era for Shiba Inu, with broader applications in gaming, DeFi, and the metaverse. The layer-2 network<\/a> will have seamless interaction with the primary Layer-1 Ethereum blockchain. <\/p>\n\n\n\n
With the integration, Shibarium will address Ethereum\u2019s high gas fees<\/a> and slow transactions. The scalability increases the usability of the Shiba Inu token, helping it play a greater role in the blockchain ecosystem. <\/p>\n\n\n\n
Shibarium has been a success so far. About 22 million transactions were performed over its four-month testing period. Investors hold big expectations of the ecosystem tokens due to the Shibarium benefits. <\/p>\n","post_title":"Shiba Inu\u2019s Shibarium Bridge Goes Fully Functional After A Shaky Start","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"shiba-inus-shibarium-bridge-goes-fully-functional-after-a-shaky-start","to_ping":"","pinged":"","post_modified":"2023-08-29 23:52:56","post_modified_gmt":"2023-08-29 13:52:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13144","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":12829,"post_author":"15","post_date":"2023-08-03 15:25:08","post_date_gmt":"2023-08-03 05:25:08","post_content":"\n
On Sunday, attackers targeted decentralized finance protocols, stealing over $24 million in cryptocurrency. The attackers exploited a vulnerability in Curve, the automated market maker platform's liquidity pools. <\/p>\n\n\n\n
According to Curve on Twitter<\/a>, the vulnerability was traced back to Vyper, an alternative third-party programming language for Ethereum smart contracts. Curve confirmed that other liquidity pools that do not use this language remain unaffected and secure.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/CurveFinance\/status\/1685693202722848768?s=20\n<\/div><\/figure>\n\n\n\n
Decurity, a decentralized finance security firm, revealed <\/a>that the NFT lending protocol JPEG'd suffered an $11 million cryptocurrency theft. JPEG'd was one of the first to detect the problem in its Curve pool.<\/p>\n\n\n\n
Exploit's Root Cause<\/h2>\n\n\n\n
Curve initially referred to the vulnerability as a typical \"re-entrance\" attack in a Tweet that has since been deleted. Re-entrancy attacks occur when a smart contract interacts with another, leading to incomplete execution.<\/p>\n\n\n\n
Re-entrancy vulnerabilities enable attackers to execute multiple calls in a single function, leading smart contracts to calculate incorrect balances. The $55 million 2016 DAO hack on Ethereum is a notable example.<\/p>\n\n\n\n
Curve initially responded to a Twitter account with a retracted statement, but later clarified their error. Curve confirmed that no wrongdoing occurred for projects integrating Vyper or its users.<\/p>\n\n\n\n
According to Vyper on Twitter, the language's compiler failed, affecting re-entry guards. These guards, included in the projects' code, are designed to protect against re-entry attacks but were ineffective.<\/p>\n\n\n\n
This prevented re-entry guards\u2014protections that were included in the projects\u2019 code and should guard against re-entry attacks\u2014from working, Meir Dolev said to Decrypt. Meir Dolev is the co-founder and CTO of cybersecurity firm Cyvers<\/p>\n","post_title":"DeFi Projects Suffer $24 Million Heist In Curve Pool Exploits","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"defi-projects-suffer-24-million-heist-in-curve-pool-exploits","to_ping":"","pinged":"","post_modified":"2023-08-03 15:25:13","post_modified_gmt":"2023-08-03 05:25:13","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12829","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":12708,"post_author":"21","post_date":"2023-07-25 23:28:55","post_date_gmt":"2023-07-25 13:28:55","post_content":"\n
\n
Worldcoin token, WLD, rose by four-digit percentages after launch and listing on Monday.<\/li>\n\n\n\n
Worldcoin promises biometric proof of identity amid the growing usage of AI.<\/li>\n<\/ul>\n\n\n\n
WLD, the token of the controversial identity-providing crypto project Worldcoin, launched<\/a> on Monday, July 24. Binance announced<\/a> it had listed the token, welcoming users to participate in new trading pairs WLD\/BTC and WLD\/USDT.<\/p>\n\n\n\n
The listing was a significant milestone for WLD as the token generated a frenzy afterwards, rising by four-digit percentages. Binance said that token withdrawal will begin on July 25, 2023, at 17:00 Eastern Eighth District Time. Other exchanges that listed the token were OKX, Huobi, and Bybit.\u00a0<\/p>\n\n\n\n
Worldcoin<\/a> plans to control almost 20% of tokens. The team will use the money for orb production, maintenance, and ecosystem development.<\/p>\n\n\n\n
Worldcoin to provide digital proof of identity<\/h2>\n\n\n\n
Worldcoin has been the centre of attention due to its promise of a biometric proof of identity. Sam Altman, CEO of OpenAI<\/a>, the firm behind ChatGPT, created the crypto project. Altman says World IDs are needed in this era of generative chatbots like ChatGPT.<\/p>\n\n\n\n
Worldcoin uses a device called \"The Orb\" to scan people's irises, generating a personally identifiable Worldcoin ID. The functionality has, however, been criticized for potential security and privacy violations. <\/p>\n\n\n\n
Altman believes Worldcoin would offer a reliable way to distinguish humans from bots while protecting privacy. It will also reduce fraud since only real people can own World IDs.<\/p>\n\n\n\n
Meanwhile, Altman is eyeing a global expansion, with the OpenAI CEO targeting up to 2 billion users. The project has already earned over 2 million users from the beta sign-up period.  <\/p>\n","post_title":"Binance Lists OpenAI-Affiliated Worldcoin Amid High Market Speculation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-lists-openai-affiliated-worldcoin-amid-high-market-speculation","to_ping":"","pinged":"","post_modified":"2023-07-25 23:29:00","post_modified_gmt":"2023-07-25 13:29:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12708","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":12524,"post_author":"1","post_date":"2023-07-15 23:36:16","post_date_gmt":"2023-07-15 13:36:16","post_content":"\n
\n
Ripple scored a landmark victory over the regulator on Thursday.<\/li>\n\n\n\n
The prolonged legal battle is expected to shape the regulations for digital assets.<\/li>\n<\/ul>\n\n\n\n
JP Morgan viewed the court ruling for Ripple as a significant victory. However, according to the investment banking giant, the regulations by enforcement are far from over. <\/p>\n\n\n\n
On Thursday, the US Southern District Court ruled partially in favor of Ripple, the FinTech company that issues XRP. The SEC and Ripple's 2-year legal battle concluded with the ruling that cryptocurrency issuance on exchanges is not an investment contract.<\/p>\n\n\n\n
\"This ruling is undoubtedly a milestone win for the industry. It provides legal clarity and defense around what does and does not constitute a security, and that overall outcome is in favor of what many in the industry had been arguing,\"<\/em> JP Morgan wrote<\/a> in the note seen by Coindesk.<\/p>\n\n\n\n
Following the landmark ruling, the price of cryptocurrencies soared as sentiment changed in the digital asset space. The cost of XRP rose by about 70%, while Bitcoin reached its highest level in more than a year.<\/p>\n\n\n\n
SEC's Next Step<\/h2>\n\n\n\n
However, according to JPMorgan, the ruling may not be the end of what has come to be termed as regulations by enforcement by the SEC, as the regulator could appeal the case or bring similar charges against other cryptocurrency companies.<\/p>\n\n\n\n
In June, Binance, the leading crypto exchange, faced 13 charges from the SEC, one being the sale of unauthorized securities. The regulator sued Coinbase, the largest US cryptocurrency exchange, for security law violations. <\/p>\n\n\n\n
At the start of the year, the SEC brought charges<\/a> against Gemini and Genesis for allegedly violating the securities regulations related to crypto lending. In February, it\u00a0 fined crypto exchange Kraken<\/a>\u00a0$30 million and ordered the platform to cease offering staking services to US users.<\/p>\n","post_title":"Ripple-SEC Ruling \u2018A Win\u2019 For Crypto Industry But Regulatory War Not Over, JP Morgan Says","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-sec-ruling-a-win-for-crypto-industry-but-regulatory-war-not-over-jp-morgan-says","to_ping":"","pinged":"","post_modified":"2023-07-15 23:36:25","post_modified_gmt":"2023-07-15 13:36:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11929,"post_author":"15","post_date":"2023-06-08 22:45:46","post_date_gmt":"2023-06-08 12:45:46","post_content":"\n
Arbitrum, a layer 2 blockchain, halts the process of transactions due to funding issues. With over $2.24 billion in deposits, the network experiences an hour-long standstill due to gas shortage. <\/p>\n\n\n\n
Developers on the Arbitrum Discord server<\/a> faced connectivity issues with the network's sequencer. The software is responsible for bundling and confirming transactions on the Ethereum network.<\/p>\n\n\n\n
According to on-chain records<\/a>, the sequencer exhausted its supply of Ether, the native cryptocurrency of Ethereum used for transaction fees<\/a>. Without sufficient Ether to cover the fees, the sequencer could not process transactions on Ethereum, resulting in Arbitrum coming to a halt.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
What's Next to Arbitrum?<\/h2>\n\n\n\n
Following an hour-long period of transaction processing failure, Arbitrum has resumed its operations. A wallet that had previously transferred funds to the Arbitrum multi-signature wallet sent 1.4 Ether to the sequence. This replenishment enabled the sequencer to resume sending transactions to Ethereum.<\/p>\n\n\n\n
The cause behind the depletion of gas in Arbitrum's sequencer remains uncertain. Since its launch in May 2021, the sequencer has only been manually refuelled with Ether on four occasions.<\/p>\n\n\n\n
The recent event highlights the reliance of Arbitrum on a centralized control point. Offchain Labs, the company behind Arbitrum, has expressed its plans to decentralize the network's sequencer. <\/p>\n","post_title":"Arbitrum Faces Temporary Shutdown Due To Gas Shortage","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"arbitrum-faces-temporary-shutdown-due-to-gas-shortage","to_ping":"","pinged":"","post_modified":"2023-06-08 22:45:55","post_modified_gmt":"2023-06-08 12:45:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11929","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11770,"post_author":"13","post_date":"2023-05-18 00:31:26","post_date_gmt":"2023-05-17 14:31:26","post_content":"\n
\n
Judge Analisa Torres has declined a motion by the commission to seal essential documents in the legal tussle.  <\/li>\n\n\n\n
The price of the native XRP token has surged following the ruling.<\/li>\n<\/ul>\n\n\n\n
A US judge presiding over the case between Ripple and the Securities and Exchange Commission (SEC) has rejected a motion filed by the regulator to seal some of the essential documents.<\/p>\n\n\n\n
Judge Analisa Torres of the US District Court has disagreed<\/a> with SEC\u2019s move to seal Hinman\u2019s Speech documents, comprising emails, text messages, and expert reports, saying they were \u2018judicial documents\u2019 subject to a strong presumption of public access.<\/p>\n\n\n\n
As a recap, the SEC is suing<\/a> Ripple for selling unregistered securities. At the centre of the legal matter is a controversial speech by the former finance division director at the commission, William Hinman, who stated that Ether, the native cryptocurrency to the Ethereum blockchain, was not a security. The statement is believed to influence the much-awaited summary judgment considerably.<\/p>\n\n\n\n
The SEC\u2019s Position On The Matter<\/h2>\n\n\n\n
On December 22, the SEC filed a motion before Judge Torres to have all the documents containing Hinman\u2019s speech sealed from the public, saying they were irrelevant to the court\u2019s summary judgment. Further, the commission added that having the documents sealed preserved \u2018openness and candour\u2019, which the court has also rejected.<\/p>\n\n\n\n
\u2018\u2018Regardless of whether the court ultimately determines that the Hinman Speech Documents are admissible, or whether the court relies on the documents in ruling on the summary judgment motions, they are judicial documents subject to a strong presumption of public access because they are \u2018relevant to the performance of the judicial function and useful in the judicial process,'\" <\/em>read the ruling.<\/p>\n\n\n\n
XRP has added more than 5% in the past 24 hours following the development and was trading at $0.4487 at the time of writing. <\/p>\n","post_title":"Ripple Scores Major Victory In Case With The SEC As Court Denies Motion Filed By The Regulator","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-scores-major-victory-in-case-with-the-sec-as-court-denies-motion-filed-by-the-regulator","to_ping":"","pinged":"","post_modified":"2023-05-18 00:31:29","post_modified_gmt":"2023-05-17 14:31:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11770","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11728,"post_author":"12","post_date":"2023-05-15 16:06:43","post_date_gmt":"2023-05-15 06:06:43","post_content":"\n
A recent report<\/a> from Financial Times found that Worldcoin, a cryptocurrency project launched by OpenAI CEO Sam Altman, is close to securing $100M in funding. Those already backing the project include; a16z, Digital Currency Group and Coinbase Ventures; the new round of funding includes \u201cexisting and new investors.\u201d<\/em><\/p>\n\n\n\n
The project<\/a> was founded in 2020 by Sam Altman, Alex Blania, and Max Novendstern. With over 1,697,000 sign ups already, Worldcoin aims to build \"the world\u2019s largest identity and financial network as a public utility, giving ownership to everyone, [and] to create universal access to the global economy regardless of country or background, accelerating the transition to an economic future that welcomes and benefits every person on the planet.<\/em><\/p>\n\n\n\n
In March 2022, The Information\u00a0reported<\/a>\u00a0that the firm was looking to raise $100M\u00a0from investors through a private token sale, citing two people familiar with the situation. These sources stated that \u201cit\u2019s a bear market, a crypto winter. It\u2019s remarkable for a project in this space to get this amount of investment.\u201d<\/em><\/p>\n\n\n\n
Worldcoin Verification, Adoption, And Account Abstraction<\/h2>\n\n\n\nWorldcoin launched a gas-free crypto wallet in early May of 2023 called World App. This wallet relies on a system called World ID which uses zero-knowledge proofs to verify that you're a real human with either a phone number or iris scan. The gasless transactions rely upon account abstraction<\/a>, a popular protocol on Ethereum, under ERC-4337<\/a>.<\/p>\n\n\n\n
World App is also integrated with Uniswap, so users can swap currencies in the wallet.<\/p>\n\n\n\n
Worldcoin has been in its beta for some time now; within \"the next six weeks\" the blockchain protocol is expected to launch and with that, transactions will begin being recorded.<\/p>\n","post_title":"OpenAI's Sam Altman To Secure $100M For Worldcoin; Will Start Recording Transactions In 6 Weeks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openais-sam-altman-to-secure-100m-for-worldcoin-will-start-recording-transactions-in-6-weeks","to_ping":"","pinged":"","post_modified":"2023-05-15 16:06:46","post_modified_gmt":"2023-05-15 06:06:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11728","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11677,"post_author":"15","post_date":"2023-05-13 00:36:12","post_date_gmt":"2023-05-12 14:36:12","post_content":"\n
In the last 24 hours, $46.37 million worth of $PEPE has been deposited into exchanges. The meme coin has net deposits from 1,176 addresses amounting to $22.94 million. $PEPE has seen a significant drop of 31% in value, shrinking its market value to around $500 million, as reported <\/a>by ScopeProtocol.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/ScopeProtocol\/status\/1656916635134066688?s=20\n<\/div><\/figure>\n\n\n\n
$PEPE is a meme coin that has gained significant popularity in cryptocurrency. It has captured the attention of crypto enthusiasts and investors due to its unique and humorous nature.<\/p>\n\n\n\n
Despite its playful image, $PEPE has also experienced fluctuations in its market price. This volatility is characteristic of many memecoins, as trends, speculation, and the overall sentiment of the market can influence their prices.<\/p>\n\n\n\n
More On Memecoins<\/h2>\n\n\n\n
On May 11, 2023, @lookonchain<\/a>, a prominent cryptocurrency analyst, tweeted<\/a> about $PEPE and $LADYs (another meme coin). In his tweet, he praised how a cryptocurrency trader made huge profits trading meme coins. The trader bought $PEPE on Apr 18 and $LADYS before Elon Musk tweeted. In summary, his investment gained 36x on $PEPE and 35x on $LADYS. <\/p>\n\n\n\n
The meme coin phenomenon has emerged as a culture in the cryptocurrency space. We can notably refer to prominent meme coins like Dogecoin ($DOGE) and Shiba Inu ($SHIB). At the time of writing, these two cryptocurrencies ranked number 8 and number 15, respectively, according to Coinmarketcap. $DOGE and $SHIB have paved the way for other meme coins to gain traction in the crypto market.<\/p>\n","post_title":"Massive $PEPE Deposits Shake Crypto Exchanges; Market Value Plunges","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"massive-pepe-deposits-shake-crypto-exchanges-market-value-plunges","to_ping":"","pinged":"","post_modified":"2023-05-13 00:36:16","post_modified_gmt":"2023-05-12 14:36:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11677","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11401,"post_author":"13","post_date":"2023-05-02 11:29:00","post_date_gmt":"2023-05-02 01:29:00","post_content":"\n
\n
SUI farming will open for two days on BNB and TUSD pools beginning May 1.<\/li>\n\n\n\n
The token is expected to list afterward on Binance against BTC, USDT, TUSD, and BNB.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Binance has unveiled its 33rd project on Binance Luanchpoool, Sui, that allows users to farm SUI tokens using staked BNB and TrueUSD (TUSD).<\/p>\n\n\n\n
According to the announcement<\/a> on April 30, the farming of SUI tokens would run for 2 days beginning May 1. After that, the asset would be listed on Binance under trading pairs SUI\/BTC, SUI\/USDT, SUITUSD, and SUI\/BNB, subject to the relevant liquidity requirements.<\/p>\n\n\n\n
40 million SUI tokens are set for launchpool token rewards, 0.4% of the total token supply of 10 billion. So far, more than 9 million BNB tokens have been staked on the BNB pool, while the TUSD pool has more than 450 million staked TUSD.<\/p>\n\n\n\n
DPoS Layer-1 Blockchain<\/h2>\n\n\n\n
Sui<\/a> operates as a delegated proof of stake (DPoS) layer-1 blockchain<\/a> written on the Move programming language. The project has since raised $300 million in a series B funding round backed by Binance Labs and Coinbase - bringing its valuation to $2 billion.<\/p>\n\n\n\n
The project, hyped by its community of supporters as the \u2018Ethereum Killer\u2019<\/em>, uses a unique technology involving a parallel data model and execution engine to enhance transaction scaling. Besides, the blockchain employs an object-centric model for processing parallel transactions.<\/p>\n\n\n\n
The unveiling has pumped the price of Binance\u2019s native BNB token upwards despite a bearish market momentum. At press time, the token was changing hands for $333, representing a jump of 3% in the past day.<\/p>\n","post_title":"Binance Launches SUI Farming With Staked BNB And TrueUSD","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-launches-sui-farming-with-staked-bnb-and-trueusd","to_ping":"","pinged":"","post_modified":"2023-05-04 13:03:20","post_modified_gmt":"2023-05-04 03:03:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
Ripple contends that the SEC\u2019s appeal would not lead to a quicker resolution of the overall case. According to the company, one ground for approving an appeal is facilitating a speedier conclusion of the legal proceedings. If accepted, Ripple argues that an appeal would prolong the case, adding to its complexity and uncertainty.<\/p>\n\n\n\n
The legal battle<\/a> between Ripple and the SEC has been ongoing since December 2020, when the SEC filed a lawsuit against Ripple, CEO Brad Garlinghouse, and co-founder Chris Larsen. The SEC accused them of raising over $1.3 billion through an unregistered security offering by selling the XRP. This legal clash prompted several cryptocurrency exchanges to delist the XRP token to mitigate potential legal risks.<\/p>\n\n\n\n
The SEC\u2019s actions in 2023 have extended beyond Ripple, targeting multiple cryptocurrency firms over alleged securities violations, including Binance and Coinbase. In a recent development, asset manager Grayscale achieved a court victory<\/a> against the SEC, leading to a review of its application for spot Bitcoin exchange-traded fund (ETF), Reuters<\/em> reported.  <\/p>\n","post_title":"Ripple Challenges SEC\u2019s Bid For Appeal In Legal Battle","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-challenges-secs-bid-for-appeal-in-legal-battle","to_ping":"","pinged":"","post_modified":"2023-09-03 12:11:59","post_modified_gmt":"2023-09-03 02:11:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13226","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":13144,"post_author":"21","post_date":"2023-08-29 23:38:34","post_date_gmt":"2023-08-29 13:38:34","post_content":"\n
\n
Shibarium has resumed withdrawals of ecosystem tokens.<\/li>\n\n\n\n
Shibarium is expected to welcome a new era of gaming, DeFi, and metaverse applications.<\/li>\n<\/ul>\n\n\n\n
Shiba Inu developers have announced<\/a> that \u201cShibarium is live and operating well.\u201d<\/em> The Monday update stated, \u201cnow that we've proven that all funds are safe (as we said) and that Shibarium is ready for prime time, we will reopen our channels.\u201d<\/em><\/p>\n\n\n\n
The developers informed the community of the resumption of token withdrawals. Users can withdraw Shiba ecosystem tokens in a period ranging from minutes to days.<\/p>\n\n\n\n
Shib (SHIB), wrapped ether (wETH), and leash (LEASH) tokens will take approximately 45 minutes to 3 hours to withdraw. Bone (BONE) withdrawals will be processed in up to 7 days.<\/p>\n\n\n\n
The withdrawals come following initial bottlenecks after Shibarium officially launched on August 16. An influx of transactions is said to have resulted in network issues that saw millions of dollars trapped. The events triggered sharp bear actions on the market, with Shiba Inu crushing up to 10%. <\/p>\n\n\n\n
Shiba Inu lead developer Shytoshi Kusama reassured users that the team had implemented measures to prevent future outages. Kusama said that Shibarium had witnessed over 65,000 wallets and 350,000 transactions before the Monday update. <\/p>\n\n\n\n
Shibarium To Make Shiba Inu A Serious Blockchain Project<\/h2>\n\n\n\nShibarium is expected to usher in a new era for Shiba Inu, with broader applications in gaming, DeFi, and the metaverse. The layer-2 network<\/a> will have seamless interaction with the primary Layer-1 Ethereum blockchain. <\/p>\n\n\n\n
With the integration, Shibarium will address Ethereum\u2019s high gas fees<\/a> and slow transactions. The scalability increases the usability of the Shiba Inu token, helping it play a greater role in the blockchain ecosystem. <\/p>\n\n\n\n
Shibarium has been a success so far. About 22 million transactions were performed over its four-month testing period. Investors hold big expectations of the ecosystem tokens due to the Shibarium benefits. <\/p>\n","post_title":"Shiba Inu\u2019s Shibarium Bridge Goes Fully Functional After A Shaky Start","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"shiba-inus-shibarium-bridge-goes-fully-functional-after-a-shaky-start","to_ping":"","pinged":"","post_modified":"2023-08-29 23:52:56","post_modified_gmt":"2023-08-29 13:52:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13144","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":12829,"post_author":"15","post_date":"2023-08-03 15:25:08","post_date_gmt":"2023-08-03 05:25:08","post_content":"\n
On Sunday, attackers targeted decentralized finance protocols, stealing over $24 million in cryptocurrency. The attackers exploited a vulnerability in Curve, the automated market maker platform's liquidity pools. <\/p>\n\n\n\n
According to Curve on Twitter<\/a>, the vulnerability was traced back to Vyper, an alternative third-party programming language for Ethereum smart contracts. Curve confirmed that other liquidity pools that do not use this language remain unaffected and secure.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/CurveFinance\/status\/1685693202722848768?s=20\n<\/div><\/figure>\n\n\n\n
Decurity, a decentralized finance security firm, revealed <\/a>that the NFT lending protocol JPEG'd suffered an $11 million cryptocurrency theft. JPEG'd was one of the first to detect the problem in its Curve pool.<\/p>\n\n\n\n
Exploit's Root Cause<\/h2>\n\n\n\n
Curve initially referred to the vulnerability as a typical \"re-entrance\" attack in a Tweet that has since been deleted. Re-entrancy attacks occur when a smart contract interacts with another, leading to incomplete execution.<\/p>\n\n\n\n
Re-entrancy vulnerabilities enable attackers to execute multiple calls in a single function, leading smart contracts to calculate incorrect balances. The $55 million 2016 DAO hack on Ethereum is a notable example.<\/p>\n\n\n\n
Curve initially responded to a Twitter account with a retracted statement, but later clarified their error. Curve confirmed that no wrongdoing occurred for projects integrating Vyper or its users.<\/p>\n\n\n\n
According to Vyper on Twitter, the language's compiler failed, affecting re-entry guards. These guards, included in the projects' code, are designed to protect against re-entry attacks but were ineffective.<\/p>\n\n\n\n
This prevented re-entry guards\u2014protections that were included in the projects\u2019 code and should guard against re-entry attacks\u2014from working, Meir Dolev said to Decrypt. Meir Dolev is the co-founder and CTO of cybersecurity firm Cyvers<\/p>\n","post_title":"DeFi Projects Suffer $24 Million Heist In Curve Pool Exploits","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"defi-projects-suffer-24-million-heist-in-curve-pool-exploits","to_ping":"","pinged":"","post_modified":"2023-08-03 15:25:13","post_modified_gmt":"2023-08-03 05:25:13","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12829","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":12708,"post_author":"21","post_date":"2023-07-25 23:28:55","post_date_gmt":"2023-07-25 13:28:55","post_content":"\n
\n
Worldcoin token, WLD, rose by four-digit percentages after launch and listing on Monday.<\/li>\n\n\n\n
Worldcoin promises biometric proof of identity amid the growing usage of AI.<\/li>\n<\/ul>\n\n\n\n
WLD, the token of the controversial identity-providing crypto project Worldcoin, launched<\/a> on Monday, July 24. Binance announced<\/a> it had listed the token, welcoming users to participate in new trading pairs WLD\/BTC and WLD\/USDT.<\/p>\n\n\n\n
The listing was a significant milestone for WLD as the token generated a frenzy afterwards, rising by four-digit percentages. Binance said that token withdrawal will begin on July 25, 2023, at 17:00 Eastern Eighth District Time. Other exchanges that listed the token were OKX, Huobi, and Bybit.\u00a0<\/p>\n\n\n\n
Worldcoin<\/a> plans to control almost 20% of tokens. The team will use the money for orb production, maintenance, and ecosystem development.<\/p>\n\n\n\n
Worldcoin to provide digital proof of identity<\/h2>\n\n\n\n
Worldcoin has been the centre of attention due to its promise of a biometric proof of identity. Sam Altman, CEO of OpenAI<\/a>, the firm behind ChatGPT, created the crypto project. Altman says World IDs are needed in this era of generative chatbots like ChatGPT.<\/p>\n\n\n\n
Worldcoin uses a device called \"The Orb\" to scan people's irises, generating a personally identifiable Worldcoin ID. The functionality has, however, been criticized for potential security and privacy violations. <\/p>\n\n\n\n
Altman believes Worldcoin would offer a reliable way to distinguish humans from bots while protecting privacy. It will also reduce fraud since only real people can own World IDs.<\/p>\n\n\n\n
Meanwhile, Altman is eyeing a global expansion, with the OpenAI CEO targeting up to 2 billion users. The project has already earned over 2 million users from the beta sign-up period.  <\/p>\n","post_title":"Binance Lists OpenAI-Affiliated Worldcoin Amid High Market Speculation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-lists-openai-affiliated-worldcoin-amid-high-market-speculation","to_ping":"","pinged":"","post_modified":"2023-07-25 23:29:00","post_modified_gmt":"2023-07-25 13:29:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12708","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":12524,"post_author":"1","post_date":"2023-07-15 23:36:16","post_date_gmt":"2023-07-15 13:36:16","post_content":"\n
\n
Ripple scored a landmark victory over the regulator on Thursday.<\/li>\n\n\n\n
The prolonged legal battle is expected to shape the regulations for digital assets.<\/li>\n<\/ul>\n\n\n\n
JP Morgan viewed the court ruling for Ripple as a significant victory. However, according to the investment banking giant, the regulations by enforcement are far from over. <\/p>\n\n\n\n
On Thursday, the US Southern District Court ruled partially in favor of Ripple, the FinTech company that issues XRP. The SEC and Ripple's 2-year legal battle concluded with the ruling that cryptocurrency issuance on exchanges is not an investment contract.<\/p>\n\n\n\n
\"This ruling is undoubtedly a milestone win for the industry. It provides legal clarity and defense around what does and does not constitute a security, and that overall outcome is in favor of what many in the industry had been arguing,\"<\/em> JP Morgan wrote<\/a> in the note seen by Coindesk.<\/p>\n\n\n\n
Following the landmark ruling, the price of cryptocurrencies soared as sentiment changed in the digital asset space. The cost of XRP rose by about 70%, while Bitcoin reached its highest level in more than a year.<\/p>\n\n\n\n
SEC's Next Step<\/h2>\n\n\n\n
However, according to JPMorgan, the ruling may not be the end of what has come to be termed as regulations by enforcement by the SEC, as the regulator could appeal the case or bring similar charges against other cryptocurrency companies.<\/p>\n\n\n\n
In June, Binance, the leading crypto exchange, faced 13 charges from the SEC, one being the sale of unauthorized securities. The regulator sued Coinbase, the largest US cryptocurrency exchange, for security law violations. <\/p>\n\n\n\n
At the start of the year, the SEC brought charges<\/a> against Gemini and Genesis for allegedly violating the securities regulations related to crypto lending. In February, it\u00a0 fined crypto exchange Kraken<\/a>\u00a0$30 million and ordered the platform to cease offering staking services to US users.<\/p>\n","post_title":"Ripple-SEC Ruling \u2018A Win\u2019 For Crypto Industry But Regulatory War Not Over, JP Morgan Says","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-sec-ruling-a-win-for-crypto-industry-but-regulatory-war-not-over-jp-morgan-says","to_ping":"","pinged":"","post_modified":"2023-07-15 23:36:25","post_modified_gmt":"2023-07-15 13:36:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11929,"post_author":"15","post_date":"2023-06-08 22:45:46","post_date_gmt":"2023-06-08 12:45:46","post_content":"\n
Arbitrum, a layer 2 blockchain, halts the process of transactions due to funding issues. With over $2.24 billion in deposits, the network experiences an hour-long standstill due to gas shortage. <\/p>\n\n\n\n
Developers on the Arbitrum Discord server<\/a> faced connectivity issues with the network's sequencer. The software is responsible for bundling and confirming transactions on the Ethereum network.<\/p>\n\n\n\n
According to on-chain records<\/a>, the sequencer exhausted its supply of Ether, the native cryptocurrency of Ethereum used for transaction fees<\/a>. Without sufficient Ether to cover the fees, the sequencer could not process transactions on Ethereum, resulting in Arbitrum coming to a halt.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
What's Next to Arbitrum?<\/h2>\n\n\n\n
Following an hour-long period of transaction processing failure, Arbitrum has resumed its operations. A wallet that had previously transferred funds to the Arbitrum multi-signature wallet sent 1.4 Ether to the sequence. This replenishment enabled the sequencer to resume sending transactions to Ethereum.<\/p>\n\n\n\n
The cause behind the depletion of gas in Arbitrum's sequencer remains uncertain. Since its launch in May 2021, the sequencer has only been manually refuelled with Ether on four occasions.<\/p>\n\n\n\n
The recent event highlights the reliance of Arbitrum on a centralized control point. Offchain Labs, the company behind Arbitrum, has expressed its plans to decentralize the network's sequencer. <\/p>\n","post_title":"Arbitrum Faces Temporary Shutdown Due To Gas Shortage","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"arbitrum-faces-temporary-shutdown-due-to-gas-shortage","to_ping":"","pinged":"","post_modified":"2023-06-08 22:45:55","post_modified_gmt":"2023-06-08 12:45:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11929","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11770,"post_author":"13","post_date":"2023-05-18 00:31:26","post_date_gmt":"2023-05-17 14:31:26","post_content":"\n
\n
Judge Analisa Torres has declined a motion by the commission to seal essential documents in the legal tussle.  <\/li>\n\n\n\n
The price of the native XRP token has surged following the ruling.<\/li>\n<\/ul>\n\n\n\n
A US judge presiding over the case between Ripple and the Securities and Exchange Commission (SEC) has rejected a motion filed by the regulator to seal some of the essential documents.<\/p>\n\n\n\n
Judge Analisa Torres of the US District Court has disagreed<\/a> with SEC\u2019s move to seal Hinman\u2019s Speech documents, comprising emails, text messages, and expert reports, saying they were \u2018judicial documents\u2019 subject to a strong presumption of public access.<\/p>\n\n\n\n
As a recap, the SEC is suing<\/a> Ripple for selling unregistered securities. At the centre of the legal matter is a controversial speech by the former finance division director at the commission, William Hinman, who stated that Ether, the native cryptocurrency to the Ethereum blockchain, was not a security. The statement is believed to influence the much-awaited summary judgment considerably.<\/p>\n\n\n\n
The SEC\u2019s Position On The Matter<\/h2>\n\n\n\n
On December 22, the SEC filed a motion before Judge Torres to have all the documents containing Hinman\u2019s speech sealed from the public, saying they were irrelevant to the court\u2019s summary judgment. Further, the commission added that having the documents sealed preserved \u2018openness and candour\u2019, which the court has also rejected.<\/p>\n\n\n\n
\u2018\u2018Regardless of whether the court ultimately determines that the Hinman Speech Documents are admissible, or whether the court relies on the documents in ruling on the summary judgment motions, they are judicial documents subject to a strong presumption of public access because they are \u2018relevant to the performance of the judicial function and useful in the judicial process,'\" <\/em>read the ruling.<\/p>\n\n\n\n
XRP has added more than 5% in the past 24 hours following the development and was trading at $0.4487 at the time of writing. <\/p>\n","post_title":"Ripple Scores Major Victory In Case With The SEC As Court Denies Motion Filed By The Regulator","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-scores-major-victory-in-case-with-the-sec-as-court-denies-motion-filed-by-the-regulator","to_ping":"","pinged":"","post_modified":"2023-05-18 00:31:29","post_modified_gmt":"2023-05-17 14:31:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11770","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11728,"post_author":"12","post_date":"2023-05-15 16:06:43","post_date_gmt":"2023-05-15 06:06:43","post_content":"\n
A recent report<\/a> from Financial Times found that Worldcoin, a cryptocurrency project launched by OpenAI CEO Sam Altman, is close to securing $100M in funding. Those already backing the project include; a16z, Digital Currency Group and Coinbase Ventures; the new round of funding includes \u201cexisting and new investors.\u201d<\/em><\/p>\n\n\n\n
The project<\/a> was founded in 2020 by Sam Altman, Alex Blania, and Max Novendstern. With over 1,697,000 sign ups already, Worldcoin aims to build \"the world\u2019s largest identity and financial network as a public utility, giving ownership to everyone, [and] to create universal access to the global economy regardless of country or background, accelerating the transition to an economic future that welcomes and benefits every person on the planet.<\/em><\/p>\n\n\n\n
In March 2022, The Information\u00a0reported<\/a>\u00a0that the firm was looking to raise $100M\u00a0from investors through a private token sale, citing two people familiar with the situation. These sources stated that \u201cit\u2019s a bear market, a crypto winter. It\u2019s remarkable for a project in this space to get this amount of investment.\u201d<\/em><\/p>\n\n\n\n
Worldcoin Verification, Adoption, And Account Abstraction<\/h2>\n\n\n\nWorldcoin launched a gas-free crypto wallet in early May of 2023 called World App. This wallet relies on a system called World ID which uses zero-knowledge proofs to verify that you're a real human with either a phone number or iris scan. The gasless transactions rely upon account abstraction<\/a>, a popular protocol on Ethereum, under ERC-4337<\/a>.<\/p>\n\n\n\n
World App is also integrated with Uniswap, so users can swap currencies in the wallet.<\/p>\n\n\n\n
Worldcoin has been in its beta for some time now; within \"the next six weeks\" the blockchain protocol is expected to launch and with that, transactions will begin being recorded.<\/p>\n","post_title":"OpenAI's Sam Altman To Secure $100M For Worldcoin; Will Start Recording Transactions In 6 Weeks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openais-sam-altman-to-secure-100m-for-worldcoin-will-start-recording-transactions-in-6-weeks","to_ping":"","pinged":"","post_modified":"2023-05-15 16:06:46","post_modified_gmt":"2023-05-15 06:06:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11728","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11677,"post_author":"15","post_date":"2023-05-13 00:36:12","post_date_gmt":"2023-05-12 14:36:12","post_content":"\n
In the last 24 hours, $46.37 million worth of $PEPE has been deposited into exchanges. The meme coin has net deposits from 1,176 addresses amounting to $22.94 million. $PEPE has seen a significant drop of 31% in value, shrinking its market value to around $500 million, as reported <\/a>by ScopeProtocol.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/ScopeProtocol\/status\/1656916635134066688?s=20\n<\/div><\/figure>\n\n\n\n
$PEPE is a meme coin that has gained significant popularity in cryptocurrency. It has captured the attention of crypto enthusiasts and investors due to its unique and humorous nature.<\/p>\n\n\n\n
Despite its playful image, $PEPE has also experienced fluctuations in its market price. This volatility is characteristic of many memecoins, as trends, speculation, and the overall sentiment of the market can influence their prices.<\/p>\n\n\n\n
More On Memecoins<\/h2>\n\n\n\n
On May 11, 2023, @lookonchain<\/a>, a prominent cryptocurrency analyst, tweeted<\/a> about $PEPE and $LADYs (another meme coin). In his tweet, he praised how a cryptocurrency trader made huge profits trading meme coins. The trader bought $PEPE on Apr 18 and $LADYS before Elon Musk tweeted. In summary, his investment gained 36x on $PEPE and 35x on $LADYS. <\/p>\n\n\n\n
The meme coin phenomenon has emerged as a culture in the cryptocurrency space. We can notably refer to prominent meme coins like Dogecoin ($DOGE) and Shiba Inu ($SHIB). At the time of writing, these two cryptocurrencies ranked number 8 and number 15, respectively, according to Coinmarketcap. $DOGE and $SHIB have paved the way for other meme coins to gain traction in the crypto market.<\/p>\n","post_title":"Massive $PEPE Deposits Shake Crypto Exchanges; Market Value Plunges","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"massive-pepe-deposits-shake-crypto-exchanges-market-value-plunges","to_ping":"","pinged":"","post_modified":"2023-05-13 00:36:16","post_modified_gmt":"2023-05-12 14:36:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11677","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11401,"post_author":"13","post_date":"2023-05-02 11:29:00","post_date_gmt":"2023-05-02 01:29:00","post_content":"\n
\n
SUI farming will open for two days on BNB and TUSD pools beginning May 1.<\/li>\n\n\n\n
The token is expected to list afterward on Binance against BTC, USDT, TUSD, and BNB.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Binance has unveiled its 33rd project on Binance Luanchpoool, Sui, that allows users to farm SUI tokens using staked BNB and TrueUSD (TUSD).<\/p>\n\n\n\n
According to the announcement<\/a> on April 30, the farming of SUI tokens would run for 2 days beginning May 1. After that, the asset would be listed on Binance under trading pairs SUI\/BTC, SUI\/USDT, SUITUSD, and SUI\/BNB, subject to the relevant liquidity requirements.<\/p>\n\n\n\n
40 million SUI tokens are set for launchpool token rewards, 0.4% of the total token supply of 10 billion. So far, more than 9 million BNB tokens have been staked on the BNB pool, while the TUSD pool has more than 450 million staked TUSD.<\/p>\n\n\n\n
DPoS Layer-1 Blockchain<\/h2>\n\n\n\n
Sui<\/a> operates as a delegated proof of stake (DPoS) layer-1 blockchain<\/a> written on the Move programming language. The project has since raised $300 million in a series B funding round backed by Binance Labs and Coinbase - bringing its valuation to $2 billion.<\/p>\n\n\n\n
The project, hyped by its community of supporters as the \u2018Ethereum Killer\u2019<\/em>, uses a unique technology involving a parallel data model and execution engine to enhance transaction scaling. Besides, the blockchain employs an object-centric model for processing parallel transactions.<\/p>\n\n\n\n
The unveiling has pumped the price of Binance\u2019s native BNB token upwards despite a bearish market momentum. At press time, the token was changing hands for $333, representing a jump of 3% in the past day.<\/p>\n","post_title":"Binance Launches SUI Farming With Staked BNB And TrueUSD","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-launches-sui-farming-with-staked-bnb-and-trueusd","to_ping":"","pinged":"","post_modified":"2023-05-04 13:03:20","post_modified_gmt":"2023-05-04 03:03:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
Ripple\u2019s Opposition to SEC's Appeal<\/h2>\n\n\n\n
Ripple contends that the SEC\u2019s appeal would not lead to a quicker resolution of the overall case. According to the company, one ground for approving an appeal is facilitating a speedier conclusion of the legal proceedings. If accepted, Ripple argues that an appeal would prolong the case, adding to its complexity and uncertainty.<\/p>\n\n\n\n
The legal battle<\/a> between Ripple and the SEC has been ongoing since December 2020, when the SEC filed a lawsuit against Ripple, CEO Brad Garlinghouse, and co-founder Chris Larsen. The SEC accused them of raising over $1.3 billion through an unregistered security offering by selling the XRP. This legal clash prompted several cryptocurrency exchanges to delist the XRP token to mitigate potential legal risks.<\/p>\n\n\n\n
The SEC\u2019s actions in 2023 have extended beyond Ripple, targeting multiple cryptocurrency firms over alleged securities violations, including Binance and Coinbase. In a recent development, asset manager Grayscale achieved a court victory<\/a> against the SEC, leading to a review of its application for spot Bitcoin exchange-traded fund (ETF), Reuters<\/em> reported.  <\/p>\n","post_title":"Ripple Challenges SEC\u2019s Bid For Appeal In Legal Battle","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-challenges-secs-bid-for-appeal-in-legal-battle","to_ping":"","pinged":"","post_modified":"2023-09-03 12:11:59","post_modified_gmt":"2023-09-03 02:11:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13226","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":13144,"post_author":"21","post_date":"2023-08-29 23:38:34","post_date_gmt":"2023-08-29 13:38:34","post_content":"\n
\n
Shibarium has resumed withdrawals of ecosystem tokens.<\/li>\n\n\n\n
Shibarium is expected to welcome a new era of gaming, DeFi, and metaverse applications.<\/li>\n<\/ul>\n\n\n\n
Shiba Inu developers have announced<\/a> that \u201cShibarium is live and operating well.\u201d<\/em> The Monday update stated, \u201cnow that we've proven that all funds are safe (as we said) and that Shibarium is ready for prime time, we will reopen our channels.\u201d<\/em><\/p>\n\n\n\n
The developers informed the community of the resumption of token withdrawals. Users can withdraw Shiba ecosystem tokens in a period ranging from minutes to days.<\/p>\n\n\n\n
Shib (SHIB), wrapped ether (wETH), and leash (LEASH) tokens will take approximately 45 minutes to 3 hours to withdraw. Bone (BONE) withdrawals will be processed in up to 7 days.<\/p>\n\n\n\n
The withdrawals come following initial bottlenecks after Shibarium officially launched on August 16. An influx of transactions is said to have resulted in network issues that saw millions of dollars trapped. The events triggered sharp bear actions on the market, with Shiba Inu crushing up to 10%. <\/p>\n\n\n\n
Shiba Inu lead developer Shytoshi Kusama reassured users that the team had implemented measures to prevent future outages. Kusama said that Shibarium had witnessed over 65,000 wallets and 350,000 transactions before the Monday update. <\/p>\n\n\n\n
Shibarium To Make Shiba Inu A Serious Blockchain Project<\/h2>\n\n\n\nShibarium is expected to usher in a new era for Shiba Inu, with broader applications in gaming, DeFi, and the metaverse. The layer-2 network<\/a> will have seamless interaction with the primary Layer-1 Ethereum blockchain. <\/p>\n\n\n\n
With the integration, Shibarium will address Ethereum\u2019s high gas fees<\/a> and slow transactions. The scalability increases the usability of the Shiba Inu token, helping it play a greater role in the blockchain ecosystem. <\/p>\n\n\n\n
Shibarium has been a success so far. About 22 million transactions were performed over its four-month testing period. Investors hold big expectations of the ecosystem tokens due to the Shibarium benefits. <\/p>\n","post_title":"Shiba Inu\u2019s Shibarium Bridge Goes Fully Functional After A Shaky Start","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"shiba-inus-shibarium-bridge-goes-fully-functional-after-a-shaky-start","to_ping":"","pinged":"","post_modified":"2023-08-29 23:52:56","post_modified_gmt":"2023-08-29 13:52:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13144","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":12829,"post_author":"15","post_date":"2023-08-03 15:25:08","post_date_gmt":"2023-08-03 05:25:08","post_content":"\n
On Sunday, attackers targeted decentralized finance protocols, stealing over $24 million in cryptocurrency. The attackers exploited a vulnerability in Curve, the automated market maker platform's liquidity pools. <\/p>\n\n\n\n
According to Curve on Twitter<\/a>, the vulnerability was traced back to Vyper, an alternative third-party programming language for Ethereum smart contracts. Curve confirmed that other liquidity pools that do not use this language remain unaffected and secure.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/CurveFinance\/status\/1685693202722848768?s=20\n<\/div><\/figure>\n\n\n\n
Decurity, a decentralized finance security firm, revealed <\/a>that the NFT lending protocol JPEG'd suffered an $11 million cryptocurrency theft. JPEG'd was one of the first to detect the problem in its Curve pool.<\/p>\n\n\n\n
Exploit's Root Cause<\/h2>\n\n\n\n
Curve initially referred to the vulnerability as a typical \"re-entrance\" attack in a Tweet that has since been deleted. Re-entrancy attacks occur when a smart contract interacts with another, leading to incomplete execution.<\/p>\n\n\n\n
Re-entrancy vulnerabilities enable attackers to execute multiple calls in a single function, leading smart contracts to calculate incorrect balances. The $55 million 2016 DAO hack on Ethereum is a notable example.<\/p>\n\n\n\n
Curve initially responded to a Twitter account with a retracted statement, but later clarified their error. Curve confirmed that no wrongdoing occurred for projects integrating Vyper or its users.<\/p>\n\n\n\n
According to Vyper on Twitter, the language's compiler failed, affecting re-entry guards. These guards, included in the projects' code, are designed to protect against re-entry attacks but were ineffective.<\/p>\n\n\n\n
This prevented re-entry guards\u2014protections that were included in the projects\u2019 code and should guard against re-entry attacks\u2014from working, Meir Dolev said to Decrypt. Meir Dolev is the co-founder and CTO of cybersecurity firm Cyvers<\/p>\n","post_title":"DeFi Projects Suffer $24 Million Heist In Curve Pool Exploits","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"defi-projects-suffer-24-million-heist-in-curve-pool-exploits","to_ping":"","pinged":"","post_modified":"2023-08-03 15:25:13","post_modified_gmt":"2023-08-03 05:25:13","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12829","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":12708,"post_author":"21","post_date":"2023-07-25 23:28:55","post_date_gmt":"2023-07-25 13:28:55","post_content":"\n
\n
Worldcoin token, WLD, rose by four-digit percentages after launch and listing on Monday.<\/li>\n\n\n\n
Worldcoin promises biometric proof of identity amid the growing usage of AI.<\/li>\n<\/ul>\n\n\n\n
WLD, the token of the controversial identity-providing crypto project Worldcoin, launched<\/a> on Monday, July 24. Binance announced<\/a> it had listed the token, welcoming users to participate in new trading pairs WLD\/BTC and WLD\/USDT.<\/p>\n\n\n\n
The listing was a significant milestone for WLD as the token generated a frenzy afterwards, rising by four-digit percentages. Binance said that token withdrawal will begin on July 25, 2023, at 17:00 Eastern Eighth District Time. Other exchanges that listed the token were OKX, Huobi, and Bybit.\u00a0<\/p>\n\n\n\n
Worldcoin<\/a> plans to control almost 20% of tokens. The team will use the money for orb production, maintenance, and ecosystem development.<\/p>\n\n\n\n
Worldcoin to provide digital proof of identity<\/h2>\n\n\n\n
Worldcoin has been the centre of attention due to its promise of a biometric proof of identity. Sam Altman, CEO of OpenAI<\/a>, the firm behind ChatGPT, created the crypto project. Altman says World IDs are needed in this era of generative chatbots like ChatGPT.<\/p>\n\n\n\n
Worldcoin uses a device called \"The Orb\" to scan people's irises, generating a personally identifiable Worldcoin ID. The functionality has, however, been criticized for potential security and privacy violations. <\/p>\n\n\n\n
Altman believes Worldcoin would offer a reliable way to distinguish humans from bots while protecting privacy. It will also reduce fraud since only real people can own World IDs.<\/p>\n\n\n\n
Meanwhile, Altman is eyeing a global expansion, with the OpenAI CEO targeting up to 2 billion users. The project has already earned over 2 million users from the beta sign-up period.  <\/p>\n","post_title":"Binance Lists OpenAI-Affiliated Worldcoin Amid High Market Speculation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-lists-openai-affiliated-worldcoin-amid-high-market-speculation","to_ping":"","pinged":"","post_modified":"2023-07-25 23:29:00","post_modified_gmt":"2023-07-25 13:29:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12708","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":12524,"post_author":"1","post_date":"2023-07-15 23:36:16","post_date_gmt":"2023-07-15 13:36:16","post_content":"\n
\n
Ripple scored a landmark victory over the regulator on Thursday.<\/li>\n\n\n\n
The prolonged legal battle is expected to shape the regulations for digital assets.<\/li>\n<\/ul>\n\n\n\n
JP Morgan viewed the court ruling for Ripple as a significant victory. However, according to the investment banking giant, the regulations by enforcement are far from over. <\/p>\n\n\n\n
On Thursday, the US Southern District Court ruled partially in favor of Ripple, the FinTech company that issues XRP. The SEC and Ripple's 2-year legal battle concluded with the ruling that cryptocurrency issuance on exchanges is not an investment contract.<\/p>\n\n\n\n
\"This ruling is undoubtedly a milestone win for the industry. It provides legal clarity and defense around what does and does not constitute a security, and that overall outcome is in favor of what many in the industry had been arguing,\"<\/em> JP Morgan wrote<\/a> in the note seen by Coindesk.<\/p>\n\n\n\n
Following the landmark ruling, the price of cryptocurrencies soared as sentiment changed in the digital asset space. The cost of XRP rose by about 70%, while Bitcoin reached its highest level in more than a year.<\/p>\n\n\n\n
SEC's Next Step<\/h2>\n\n\n\n
However, according to JPMorgan, the ruling may not be the end of what has come to be termed as regulations by enforcement by the SEC, as the regulator could appeal the case or bring similar charges against other cryptocurrency companies.<\/p>\n\n\n\n
In June, Binance, the leading crypto exchange, faced 13 charges from the SEC, one being the sale of unauthorized securities. The regulator sued Coinbase, the largest US cryptocurrency exchange, for security law violations. <\/p>\n\n\n\n
At the start of the year, the SEC brought charges<\/a> against Gemini and Genesis for allegedly violating the securities regulations related to crypto lending. In February, it\u00a0 fined crypto exchange Kraken<\/a>\u00a0$30 million and ordered the platform to cease offering staking services to US users.<\/p>\n","post_title":"Ripple-SEC Ruling \u2018A Win\u2019 For Crypto Industry But Regulatory War Not Over, JP Morgan Says","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-sec-ruling-a-win-for-crypto-industry-but-regulatory-war-not-over-jp-morgan-says","to_ping":"","pinged":"","post_modified":"2023-07-15 23:36:25","post_modified_gmt":"2023-07-15 13:36:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11929,"post_author":"15","post_date":"2023-06-08 22:45:46","post_date_gmt":"2023-06-08 12:45:46","post_content":"\n
Arbitrum, a layer 2 blockchain, halts the process of transactions due to funding issues. With over $2.24 billion in deposits, the network experiences an hour-long standstill due to gas shortage. <\/p>\n\n\n\n
Developers on the Arbitrum Discord server<\/a> faced connectivity issues with the network's sequencer. The software is responsible for bundling and confirming transactions on the Ethereum network.<\/p>\n\n\n\n
According to on-chain records<\/a>, the sequencer exhausted its supply of Ether, the native cryptocurrency of Ethereum used for transaction fees<\/a>. Without sufficient Ether to cover the fees, the sequencer could not process transactions on Ethereum, resulting in Arbitrum coming to a halt.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
What's Next to Arbitrum?<\/h2>\n\n\n\n
Following an hour-long period of transaction processing failure, Arbitrum has resumed its operations. A wallet that had previously transferred funds to the Arbitrum multi-signature wallet sent 1.4 Ether to the sequence. This replenishment enabled the sequencer to resume sending transactions to Ethereum.<\/p>\n\n\n\n
The cause behind the depletion of gas in Arbitrum's sequencer remains uncertain. Since its launch in May 2021, the sequencer has only been manually refuelled with Ether on four occasions.<\/p>\n\n\n\n
The recent event highlights the reliance of Arbitrum on a centralized control point. Offchain Labs, the company behind Arbitrum, has expressed its plans to decentralize the network's sequencer. <\/p>\n","post_title":"Arbitrum Faces Temporary Shutdown Due To Gas Shortage","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"arbitrum-faces-temporary-shutdown-due-to-gas-shortage","to_ping":"","pinged":"","post_modified":"2023-06-08 22:45:55","post_modified_gmt":"2023-06-08 12:45:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11929","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11770,"post_author":"13","post_date":"2023-05-18 00:31:26","post_date_gmt":"2023-05-17 14:31:26","post_content":"\n
\n
Judge Analisa Torres has declined a motion by the commission to seal essential documents in the legal tussle.  <\/li>\n\n\n\n
The price of the native XRP token has surged following the ruling.<\/li>\n<\/ul>\n\n\n\n
A US judge presiding over the case between Ripple and the Securities and Exchange Commission (SEC) has rejected a motion filed by the regulator to seal some of the essential documents.<\/p>\n\n\n\n
Judge Analisa Torres of the US District Court has disagreed<\/a> with SEC\u2019s move to seal Hinman\u2019s Speech documents, comprising emails, text messages, and expert reports, saying they were \u2018judicial documents\u2019 subject to a strong presumption of public access.<\/p>\n\n\n\n
As a recap, the SEC is suing<\/a> Ripple for selling unregistered securities. At the centre of the legal matter is a controversial speech by the former finance division director at the commission, William Hinman, who stated that Ether, the native cryptocurrency to the Ethereum blockchain, was not a security. The statement is believed to influence the much-awaited summary judgment considerably.<\/p>\n\n\n\n
The SEC\u2019s Position On The Matter<\/h2>\n\n\n\n
On December 22, the SEC filed a motion before Judge Torres to have all the documents containing Hinman\u2019s speech sealed from the public, saying they were irrelevant to the court\u2019s summary judgment. Further, the commission added that having the documents sealed preserved \u2018openness and candour\u2019, which the court has also rejected.<\/p>\n\n\n\n
\u2018\u2018Regardless of whether the court ultimately determines that the Hinman Speech Documents are admissible, or whether the court relies on the documents in ruling on the summary judgment motions, they are judicial documents subject to a strong presumption of public access because they are \u2018relevant to the performance of the judicial function and useful in the judicial process,'\" <\/em>read the ruling.<\/p>\n\n\n\n
XRP has added more than 5% in the past 24 hours following the development and was trading at $0.4487 at the time of writing. <\/p>\n","post_title":"Ripple Scores Major Victory In Case With The SEC As Court Denies Motion Filed By The Regulator","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-scores-major-victory-in-case-with-the-sec-as-court-denies-motion-filed-by-the-regulator","to_ping":"","pinged":"","post_modified":"2023-05-18 00:31:29","post_modified_gmt":"2023-05-17 14:31:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11770","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11728,"post_author":"12","post_date":"2023-05-15 16:06:43","post_date_gmt":"2023-05-15 06:06:43","post_content":"\n
A recent report<\/a> from Financial Times found that Worldcoin, a cryptocurrency project launched by OpenAI CEO Sam Altman, is close to securing $100M in funding. Those already backing the project include; a16z, Digital Currency Group and Coinbase Ventures; the new round of funding includes \u201cexisting and new investors.\u201d<\/em><\/p>\n\n\n\n
The project<\/a> was founded in 2020 by Sam Altman, Alex Blania, and Max Novendstern. With over 1,697,000 sign ups already, Worldcoin aims to build \"the world\u2019s largest identity and financial network as a public utility, giving ownership to everyone, [and] to create universal access to the global economy regardless of country or background, accelerating the transition to an economic future that welcomes and benefits every person on the planet.<\/em><\/p>\n\n\n\n
In March 2022, The Information\u00a0reported<\/a>\u00a0that the firm was looking to raise $100M\u00a0from investors through a private token sale, citing two people familiar with the situation. These sources stated that \u201cit\u2019s a bear market, a crypto winter. It\u2019s remarkable for a project in this space to get this amount of investment.\u201d<\/em><\/p>\n\n\n\n
Worldcoin Verification, Adoption, And Account Abstraction<\/h2>\n\n\n\nWorldcoin launched a gas-free crypto wallet in early May of 2023 called World App. This wallet relies on a system called World ID which uses zero-knowledge proofs to verify that you're a real human with either a phone number or iris scan. The gasless transactions rely upon account abstraction<\/a>, a popular protocol on Ethereum, under ERC-4337<\/a>.<\/p>\n\n\n\n
World App is also integrated with Uniswap, so users can swap currencies in the wallet.<\/p>\n\n\n\n
Worldcoin has been in its beta for some time now; within \"the next six weeks\" the blockchain protocol is expected to launch and with that, transactions will begin being recorded.<\/p>\n","post_title":"OpenAI's Sam Altman To Secure $100M For Worldcoin; Will Start Recording Transactions In 6 Weeks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openais-sam-altman-to-secure-100m-for-worldcoin-will-start-recording-transactions-in-6-weeks","to_ping":"","pinged":"","post_modified":"2023-05-15 16:06:46","post_modified_gmt":"2023-05-15 06:06:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11728","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11677,"post_author":"15","post_date":"2023-05-13 00:36:12","post_date_gmt":"2023-05-12 14:36:12","post_content":"\n
In the last 24 hours, $46.37 million worth of $PEPE has been deposited into exchanges. The meme coin has net deposits from 1,176 addresses amounting to $22.94 million. $PEPE has seen a significant drop of 31% in value, shrinking its market value to around $500 million, as reported <\/a>by ScopeProtocol.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/ScopeProtocol\/status\/1656916635134066688?s=20\n<\/div><\/figure>\n\n\n\n
$PEPE is a meme coin that has gained significant popularity in cryptocurrency. It has captured the attention of crypto enthusiasts and investors due to its unique and humorous nature.<\/p>\n\n\n\n
Despite its playful image, $PEPE has also experienced fluctuations in its market price. This volatility is characteristic of many memecoins, as trends, speculation, and the overall sentiment of the market can influence their prices.<\/p>\n\n\n\n
More On Memecoins<\/h2>\n\n\n\n
On May 11, 2023, @lookonchain<\/a>, a prominent cryptocurrency analyst, tweeted<\/a> about $PEPE and $LADYs (another meme coin). In his tweet, he praised how a cryptocurrency trader made huge profits trading meme coins. The trader bought $PEPE on Apr 18 and $LADYS before Elon Musk tweeted. In summary, his investment gained 36x on $PEPE and 35x on $LADYS. <\/p>\n\n\n\n
The meme coin phenomenon has emerged as a culture in the cryptocurrency space. We can notably refer to prominent meme coins like Dogecoin ($DOGE) and Shiba Inu ($SHIB). At the time of writing, these two cryptocurrencies ranked number 8 and number 15, respectively, according to Coinmarketcap. $DOGE and $SHIB have paved the way for other meme coins to gain traction in the crypto market.<\/p>\n","post_title":"Massive $PEPE Deposits Shake Crypto Exchanges; Market Value Plunges","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"massive-pepe-deposits-shake-crypto-exchanges-market-value-plunges","to_ping":"","pinged":"","post_modified":"2023-05-13 00:36:16","post_modified_gmt":"2023-05-12 14:36:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11677","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11401,"post_author":"13","post_date":"2023-05-02 11:29:00","post_date_gmt":"2023-05-02 01:29:00","post_content":"\n
\n
SUI farming will open for two days on BNB and TUSD pools beginning May 1.<\/li>\n\n\n\n
The token is expected to list afterward on Binance against BTC, USDT, TUSD, and BNB.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Binance has unveiled its 33rd project on Binance Luanchpoool, Sui, that allows users to farm SUI tokens using staked BNB and TrueUSD (TUSD).<\/p>\n\n\n\n
According to the announcement<\/a> on April 30, the farming of SUI tokens would run for 2 days beginning May 1. After that, the asset would be listed on Binance under trading pairs SUI\/BTC, SUI\/USDT, SUITUSD, and SUI\/BNB, subject to the relevant liquidity requirements.<\/p>\n\n\n\n
40 million SUI tokens are set for launchpool token rewards, 0.4% of the total token supply of 10 billion. So far, more than 9 million BNB tokens have been staked on the BNB pool, while the TUSD pool has more than 450 million staked TUSD.<\/p>\n\n\n\n
DPoS Layer-1 Blockchain<\/h2>\n\n\n\n
Sui<\/a> operates as a delegated proof of stake (DPoS) layer-1 blockchain<\/a> written on the Move programming language. The project has since raised $300 million in a series B funding round backed by Binance Labs and Coinbase - bringing its valuation to $2 billion.<\/p>\n\n\n\n
The project, hyped by its community of supporters as the \u2018Ethereum Killer\u2019<\/em>, uses a unique technology involving a parallel data model and execution engine to enhance transaction scaling. Besides, the blockchain employs an object-centric model for processing parallel transactions.<\/p>\n\n\n\n
The unveiling has pumped the price of Binance\u2019s native BNB token upwards despite a bearish market momentum. At press time, the token was changing hands for $333, representing a jump of 3% in the past day.<\/p>\n","post_title":"Binance Launches SUI Farming With Staked BNB And TrueUSD","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-launches-sui-farming-with-staked-bnb-and-trueusd","to_ping":"","pinged":"","post_modified":"2023-05-04 13:03:20","post_modified_gmt":"2023-05-04 03:03:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
Additionally, the other argument Ripple has put forth is that the SEC cannot demonstrate that different judges might disagree with Judge Torres\u2019 ruling. Ripple points out that for an appeal to be approved, there must be a credible belief that alternative judges might reach a different conclusion.<\/p>\n\n\n\n
Ripple\u2019s Opposition to SEC's Appeal<\/h2>\n\n\n\n
Ripple contends that the SEC\u2019s appeal would not lead to a quicker resolution of the overall case. According to the company, one ground for approving an appeal is facilitating a speedier conclusion of the legal proceedings. If accepted, Ripple argues that an appeal would prolong the case, adding to its complexity and uncertainty.<\/p>\n\n\n\n
The legal battle<\/a> between Ripple and the SEC has been ongoing since December 2020, when the SEC filed a lawsuit against Ripple, CEO Brad Garlinghouse, and co-founder Chris Larsen. The SEC accused them of raising over $1.3 billion through an unregistered security offering by selling the XRP. This legal clash prompted several cryptocurrency exchanges to delist the XRP token to mitigate potential legal risks.<\/p>\n\n\n\n
The SEC\u2019s actions in 2023 have extended beyond Ripple, targeting multiple cryptocurrency firms over alleged securities violations, including Binance and Coinbase. In a recent development, asset manager Grayscale achieved a court victory<\/a> against the SEC, leading to a review of its application for spot Bitcoin exchange-traded fund (ETF), Reuters<\/em> reported.  <\/p>\n","post_title":"Ripple Challenges SEC\u2019s Bid For Appeal In Legal Battle","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-challenges-secs-bid-for-appeal-in-legal-battle","to_ping":"","pinged":"","post_modified":"2023-09-03 12:11:59","post_modified_gmt":"2023-09-03 02:11:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13226","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":13144,"post_author":"21","post_date":"2023-08-29 23:38:34","post_date_gmt":"2023-08-29 13:38:34","post_content":"\n
\n
Shibarium has resumed withdrawals of ecosystem tokens.<\/li>\n\n\n\n
Shibarium is expected to welcome a new era of gaming, DeFi, and metaverse applications.<\/li>\n<\/ul>\n\n\n\n
Shiba Inu developers have announced<\/a> that \u201cShibarium is live and operating well.\u201d<\/em> The Monday update stated, \u201cnow that we've proven that all funds are safe (as we said) and that Shibarium is ready for prime time, we will reopen our channels.\u201d<\/em><\/p>\n\n\n\n
The developers informed the community of the resumption of token withdrawals. Users can withdraw Shiba ecosystem tokens in a period ranging from minutes to days.<\/p>\n\n\n\n
Shib (SHIB), wrapped ether (wETH), and leash (LEASH) tokens will take approximately 45 minutes to 3 hours to withdraw. Bone (BONE) withdrawals will be processed in up to 7 days.<\/p>\n\n\n\n
The withdrawals come following initial bottlenecks after Shibarium officially launched on August 16. An influx of transactions is said to have resulted in network issues that saw millions of dollars trapped. The events triggered sharp bear actions on the market, with Shiba Inu crushing up to 10%. <\/p>\n\n\n\n
Shiba Inu lead developer Shytoshi Kusama reassured users that the team had implemented measures to prevent future outages. Kusama said that Shibarium had witnessed over 65,000 wallets and 350,000 transactions before the Monday update. <\/p>\n\n\n\n
Shibarium To Make Shiba Inu A Serious Blockchain Project<\/h2>\n\n\n\nShibarium is expected to usher in a new era for Shiba Inu, with broader applications in gaming, DeFi, and the metaverse. The layer-2 network<\/a> will have seamless interaction with the primary Layer-1 Ethereum blockchain. <\/p>\n\n\n\n
With the integration, Shibarium will address Ethereum\u2019s high gas fees<\/a> and slow transactions. The scalability increases the usability of the Shiba Inu token, helping it play a greater role in the blockchain ecosystem. <\/p>\n\n\n\n
Shibarium has been a success so far. About 22 million transactions were performed over its four-month testing period. Investors hold big expectations of the ecosystem tokens due to the Shibarium benefits. <\/p>\n","post_title":"Shiba Inu\u2019s Shibarium Bridge Goes Fully Functional After A Shaky Start","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"shiba-inus-shibarium-bridge-goes-fully-functional-after-a-shaky-start","to_ping":"","pinged":"","post_modified":"2023-08-29 23:52:56","post_modified_gmt":"2023-08-29 13:52:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13144","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":12829,"post_author":"15","post_date":"2023-08-03 15:25:08","post_date_gmt":"2023-08-03 05:25:08","post_content":"\n
On Sunday, attackers targeted decentralized finance protocols, stealing over $24 million in cryptocurrency. The attackers exploited a vulnerability in Curve, the automated market maker platform's liquidity pools. <\/p>\n\n\n\n
According to Curve on Twitter<\/a>, the vulnerability was traced back to Vyper, an alternative third-party programming language for Ethereum smart contracts. Curve confirmed that other liquidity pools that do not use this language remain unaffected and secure.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/CurveFinance\/status\/1685693202722848768?s=20\n<\/div><\/figure>\n\n\n\n
Decurity, a decentralized finance security firm, revealed <\/a>that the NFT lending protocol JPEG'd suffered an $11 million cryptocurrency theft. JPEG'd was one of the first to detect the problem in its Curve pool.<\/p>\n\n\n\n
Exploit's Root Cause<\/h2>\n\n\n\n
Curve initially referred to the vulnerability as a typical \"re-entrance\" attack in a Tweet that has since been deleted. Re-entrancy attacks occur when a smart contract interacts with another, leading to incomplete execution.<\/p>\n\n\n\n
Re-entrancy vulnerabilities enable attackers to execute multiple calls in a single function, leading smart contracts to calculate incorrect balances. The $55 million 2016 DAO hack on Ethereum is a notable example.<\/p>\n\n\n\n
Curve initially responded to a Twitter account with a retracted statement, but later clarified their error. Curve confirmed that no wrongdoing occurred for projects integrating Vyper or its users.<\/p>\n\n\n\n
According to Vyper on Twitter, the language's compiler failed, affecting re-entry guards. These guards, included in the projects' code, are designed to protect against re-entry attacks but were ineffective.<\/p>\n\n\n\n
This prevented re-entry guards\u2014protections that were included in the projects\u2019 code and should guard against re-entry attacks\u2014from working, Meir Dolev said to Decrypt. Meir Dolev is the co-founder and CTO of cybersecurity firm Cyvers<\/p>\n","post_title":"DeFi Projects Suffer $24 Million Heist In Curve Pool Exploits","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"defi-projects-suffer-24-million-heist-in-curve-pool-exploits","to_ping":"","pinged":"","post_modified":"2023-08-03 15:25:13","post_modified_gmt":"2023-08-03 05:25:13","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12829","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":12708,"post_author":"21","post_date":"2023-07-25 23:28:55","post_date_gmt":"2023-07-25 13:28:55","post_content":"\n
\n
Worldcoin token, WLD, rose by four-digit percentages after launch and listing on Monday.<\/li>\n\n\n\n
Worldcoin promises biometric proof of identity amid the growing usage of AI.<\/li>\n<\/ul>\n\n\n\n
WLD, the token of the controversial identity-providing crypto project Worldcoin, launched<\/a> on Monday, July 24. Binance announced<\/a> it had listed the token, welcoming users to participate in new trading pairs WLD\/BTC and WLD\/USDT.<\/p>\n\n\n\n
The listing was a significant milestone for WLD as the token generated a frenzy afterwards, rising by four-digit percentages. Binance said that token withdrawal will begin on July 25, 2023, at 17:00 Eastern Eighth District Time. Other exchanges that listed the token were OKX, Huobi, and Bybit.\u00a0<\/p>\n\n\n\n
Worldcoin<\/a> plans to control almost 20% of tokens. The team will use the money for orb production, maintenance, and ecosystem development.<\/p>\n\n\n\n
Worldcoin to provide digital proof of identity<\/h2>\n\n\n\n
Worldcoin has been the centre of attention due to its promise of a biometric proof of identity. Sam Altman, CEO of OpenAI<\/a>, the firm behind ChatGPT, created the crypto project. Altman says World IDs are needed in this era of generative chatbots like ChatGPT.<\/p>\n\n\n\n
Worldcoin uses a device called \"The Orb\" to scan people's irises, generating a personally identifiable Worldcoin ID. The functionality has, however, been criticized for potential security and privacy violations. <\/p>\n\n\n\n
Altman believes Worldcoin would offer a reliable way to distinguish humans from bots while protecting privacy. It will also reduce fraud since only real people can own World IDs.<\/p>\n\n\n\n
Meanwhile, Altman is eyeing a global expansion, with the OpenAI CEO targeting up to 2 billion users. The project has already earned over 2 million users from the beta sign-up period.  <\/p>\n","post_title":"Binance Lists OpenAI-Affiliated Worldcoin Amid High Market Speculation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-lists-openai-affiliated-worldcoin-amid-high-market-speculation","to_ping":"","pinged":"","post_modified":"2023-07-25 23:29:00","post_modified_gmt":"2023-07-25 13:29:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12708","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":12524,"post_author":"1","post_date":"2023-07-15 23:36:16","post_date_gmt":"2023-07-15 13:36:16","post_content":"\n
\n
Ripple scored a landmark victory over the regulator on Thursday.<\/li>\n\n\n\n
The prolonged legal battle is expected to shape the regulations for digital assets.<\/li>\n<\/ul>\n\n\n\n
JP Morgan viewed the court ruling for Ripple as a significant victory. However, according to the investment banking giant, the regulations by enforcement are far from over. <\/p>\n\n\n\n
On Thursday, the US Southern District Court ruled partially in favor of Ripple, the FinTech company that issues XRP. The SEC and Ripple's 2-year legal battle concluded with the ruling that cryptocurrency issuance on exchanges is not an investment contract.<\/p>\n\n\n\n
\"This ruling is undoubtedly a milestone win for the industry. It provides legal clarity and defense around what does and does not constitute a security, and that overall outcome is in favor of what many in the industry had been arguing,\"<\/em> JP Morgan wrote<\/a> in the note seen by Coindesk.<\/p>\n\n\n\n
Following the landmark ruling, the price of cryptocurrencies soared as sentiment changed in the digital asset space. The cost of XRP rose by about 70%, while Bitcoin reached its highest level in more than a year.<\/p>\n\n\n\n
SEC's Next Step<\/h2>\n\n\n\n
However, according to JPMorgan, the ruling may not be the end of what has come to be termed as regulations by enforcement by the SEC, as the regulator could appeal the case or bring similar charges against other cryptocurrency companies.<\/p>\n\n\n\n
In June, Binance, the leading crypto exchange, faced 13 charges from the SEC, one being the sale of unauthorized securities. The regulator sued Coinbase, the largest US cryptocurrency exchange, for security law violations. <\/p>\n\n\n\n
At the start of the year, the SEC brought charges<\/a> against Gemini and Genesis for allegedly violating the securities regulations related to crypto lending. In February, it\u00a0 fined crypto exchange Kraken<\/a>\u00a0$30 million and ordered the platform to cease offering staking services to US users.<\/p>\n","post_title":"Ripple-SEC Ruling \u2018A Win\u2019 For Crypto Industry But Regulatory War Not Over, JP Morgan Says","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-sec-ruling-a-win-for-crypto-industry-but-regulatory-war-not-over-jp-morgan-says","to_ping":"","pinged":"","post_modified":"2023-07-15 23:36:25","post_modified_gmt":"2023-07-15 13:36:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11929,"post_author":"15","post_date":"2023-06-08 22:45:46","post_date_gmt":"2023-06-08 12:45:46","post_content":"\n
Arbitrum, a layer 2 blockchain, halts the process of transactions due to funding issues. With over $2.24 billion in deposits, the network experiences an hour-long standstill due to gas shortage. <\/p>\n\n\n\n
Developers on the Arbitrum Discord server<\/a> faced connectivity issues with the network's sequencer. The software is responsible for bundling and confirming transactions on the Ethereum network.<\/p>\n\n\n\n
According to on-chain records<\/a>, the sequencer exhausted its supply of Ether, the native cryptocurrency of Ethereum used for transaction fees<\/a>. Without sufficient Ether to cover the fees, the sequencer could not process transactions on Ethereum, resulting in Arbitrum coming to a halt.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
What's Next to Arbitrum?<\/h2>\n\n\n\n
Following an hour-long period of transaction processing failure, Arbitrum has resumed its operations. A wallet that had previously transferred funds to the Arbitrum multi-signature wallet sent 1.4 Ether to the sequence. This replenishment enabled the sequencer to resume sending transactions to Ethereum.<\/p>\n\n\n\n
The cause behind the depletion of gas in Arbitrum's sequencer remains uncertain. Since its launch in May 2021, the sequencer has only been manually refuelled with Ether on four occasions.<\/p>\n\n\n\n
The recent event highlights the reliance of Arbitrum on a centralized control point. Offchain Labs, the company behind Arbitrum, has expressed its plans to decentralize the network's sequencer. <\/p>\n","post_title":"Arbitrum Faces Temporary Shutdown Due To Gas Shortage","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"arbitrum-faces-temporary-shutdown-due-to-gas-shortage","to_ping":"","pinged":"","post_modified":"2023-06-08 22:45:55","post_modified_gmt":"2023-06-08 12:45:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11929","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11770,"post_author":"13","post_date":"2023-05-18 00:31:26","post_date_gmt":"2023-05-17 14:31:26","post_content":"\n
\n
Judge Analisa Torres has declined a motion by the commission to seal essential documents in the legal tussle.  <\/li>\n\n\n\n
The price of the native XRP token has surged following the ruling.<\/li>\n<\/ul>\n\n\n\n
A US judge presiding over the case between Ripple and the Securities and Exchange Commission (SEC) has rejected a motion filed by the regulator to seal some of the essential documents.<\/p>\n\n\n\n
Judge Analisa Torres of the US District Court has disagreed<\/a> with SEC\u2019s move to seal Hinman\u2019s Speech documents, comprising emails, text messages, and expert reports, saying they were \u2018judicial documents\u2019 subject to a strong presumption of public access.<\/p>\n\n\n\n
As a recap, the SEC is suing<\/a> Ripple for selling unregistered securities. At the centre of the legal matter is a controversial speech by the former finance division director at the commission, William Hinman, who stated that Ether, the native cryptocurrency to the Ethereum blockchain, was not a security. The statement is believed to influence the much-awaited summary judgment considerably.<\/p>\n\n\n\n
The SEC\u2019s Position On The Matter<\/h2>\n\n\n\n
On December 22, the SEC filed a motion before Judge Torres to have all the documents containing Hinman\u2019s speech sealed from the public, saying they were irrelevant to the court\u2019s summary judgment. Further, the commission added that having the documents sealed preserved \u2018openness and candour\u2019, which the court has also rejected.<\/p>\n\n\n\n
\u2018\u2018Regardless of whether the court ultimately determines that the Hinman Speech Documents are admissible, or whether the court relies on the documents in ruling on the summary judgment motions, they are judicial documents subject to a strong presumption of public access because they are \u2018relevant to the performance of the judicial function and useful in the judicial process,'\" <\/em>read the ruling.<\/p>\n\n\n\n
XRP has added more than 5% in the past 24 hours following the development and was trading at $0.4487 at the time of writing. <\/p>\n","post_title":"Ripple Scores Major Victory In Case With The SEC As Court Denies Motion Filed By The Regulator","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-scores-major-victory-in-case-with-the-sec-as-court-denies-motion-filed-by-the-regulator","to_ping":"","pinged":"","post_modified":"2023-05-18 00:31:29","post_modified_gmt":"2023-05-17 14:31:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11770","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11728,"post_author":"12","post_date":"2023-05-15 16:06:43","post_date_gmt":"2023-05-15 06:06:43","post_content":"\n
A recent report<\/a> from Financial Times found that Worldcoin, a cryptocurrency project launched by OpenAI CEO Sam Altman, is close to securing $100M in funding. Those already backing the project include; a16z, Digital Currency Group and Coinbase Ventures; the new round of funding includes \u201cexisting and new investors.\u201d<\/em><\/p>\n\n\n\n
The project<\/a> was founded in 2020 by Sam Altman, Alex Blania, and Max Novendstern. With over 1,697,000 sign ups already, Worldcoin aims to build \"the world\u2019s largest identity and financial network as a public utility, giving ownership to everyone, [and] to create universal access to the global economy regardless of country or background, accelerating the transition to an economic future that welcomes and benefits every person on the planet.<\/em><\/p>\n\n\n\n
In March 2022, The Information\u00a0reported<\/a>\u00a0that the firm was looking to raise $100M\u00a0from investors through a private token sale, citing two people familiar with the situation. These sources stated that \u201cit\u2019s a bear market, a crypto winter. It\u2019s remarkable for a project in this space to get this amount of investment.\u201d<\/em><\/p>\n\n\n\n
Worldcoin Verification, Adoption, And Account Abstraction<\/h2>\n\n\n\nWorldcoin launched a gas-free crypto wallet in early May of 2023 called World App. This wallet relies on a system called World ID which uses zero-knowledge proofs to verify that you're a real human with either a phone number or iris scan. The gasless transactions rely upon account abstraction<\/a>, a popular protocol on Ethereum, under ERC-4337<\/a>.<\/p>\n\n\n\n
World App is also integrated with Uniswap, so users can swap currencies in the wallet.<\/p>\n\n\n\n
Worldcoin has been in its beta for some time now; within \"the next six weeks\" the blockchain protocol is expected to launch and with that, transactions will begin being recorded.<\/p>\n","post_title":"OpenAI's Sam Altman To Secure $100M For Worldcoin; Will Start Recording Transactions In 6 Weeks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openais-sam-altman-to-secure-100m-for-worldcoin-will-start-recording-transactions-in-6-weeks","to_ping":"","pinged":"","post_modified":"2023-05-15 16:06:46","post_modified_gmt":"2023-05-15 06:06:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11728","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11677,"post_author":"15","post_date":"2023-05-13 00:36:12","post_date_gmt":"2023-05-12 14:36:12","post_content":"\n
In the last 24 hours, $46.37 million worth of $PEPE has been deposited into exchanges. The meme coin has net deposits from 1,176 addresses amounting to $22.94 million. $PEPE has seen a significant drop of 31% in value, shrinking its market value to around $500 million, as reported <\/a>by ScopeProtocol.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/ScopeProtocol\/status\/1656916635134066688?s=20\n<\/div><\/figure>\n\n\n\n
$PEPE is a meme coin that has gained significant popularity in cryptocurrency. It has captured the attention of crypto enthusiasts and investors due to its unique and humorous nature.<\/p>\n\n\n\n
Despite its playful image, $PEPE has also experienced fluctuations in its market price. This volatility is characteristic of many memecoins, as trends, speculation, and the overall sentiment of the market can influence their prices.<\/p>\n\n\n\n
More On Memecoins<\/h2>\n\n\n\n
On May 11, 2023, @lookonchain<\/a>, a prominent cryptocurrency analyst, tweeted<\/a> about $PEPE and $LADYs (another meme coin). In his tweet, he praised how a cryptocurrency trader made huge profits trading meme coins. The trader bought $PEPE on Apr 18 and $LADYS before Elon Musk tweeted. In summary, his investment gained 36x on $PEPE and 35x on $LADYS. <\/p>\n\n\n\n
The meme coin phenomenon has emerged as a culture in the cryptocurrency space. We can notably refer to prominent meme coins like Dogecoin ($DOGE) and Shiba Inu ($SHIB). At the time of writing, these two cryptocurrencies ranked number 8 and number 15, respectively, according to Coinmarketcap. $DOGE and $SHIB have paved the way for other meme coins to gain traction in the crypto market.<\/p>\n","post_title":"Massive $PEPE Deposits Shake Crypto Exchanges; Market Value Plunges","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"massive-pepe-deposits-shake-crypto-exchanges-market-value-plunges","to_ping":"","pinged":"","post_modified":"2023-05-13 00:36:16","post_modified_gmt":"2023-05-12 14:36:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11677","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11401,"post_author":"13","post_date":"2023-05-02 11:29:00","post_date_gmt":"2023-05-02 01:29:00","post_content":"\n
\n
SUI farming will open for two days on BNB and TUSD pools beginning May 1.<\/li>\n\n\n\n
The token is expected to list afterward on Binance against BTC, USDT, TUSD, and BNB.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Binance has unveiled its 33rd project on Binance Luanchpoool, Sui, that allows users to farm SUI tokens using staked BNB and TrueUSD (TUSD).<\/p>\n\n\n\n
According to the announcement<\/a> on April 30, the farming of SUI tokens would run for 2 days beginning May 1. After that, the asset would be listed on Binance under trading pairs SUI\/BTC, SUI\/USDT, SUITUSD, and SUI\/BNB, subject to the relevant liquidity requirements.<\/p>\n\n\n\n
40 million SUI tokens are set for launchpool token rewards, 0.4% of the total token supply of 10 billion. So far, more than 9 million BNB tokens have been staked on the BNB pool, while the TUSD pool has more than 450 million staked TUSD.<\/p>\n\n\n\n
DPoS Layer-1 Blockchain<\/h2>\n\n\n\n
Sui<\/a> operates as a delegated proof of stake (DPoS) layer-1 blockchain<\/a> written on the Move programming language. The project has since raised $300 million in a series B funding round backed by Binance Labs and Coinbase - bringing its valuation to $2 billion.<\/p>\n\n\n\n
The project, hyped by its community of supporters as the \u2018Ethereum Killer\u2019<\/em>, uses a unique technology involving a parallel data model and execution engine to enhance transaction scaling. Besides, the blockchain employs an object-centric model for processing parallel transactions.<\/p>\n\n\n\n
The unveiling has pumped the price of Binance\u2019s native BNB token upwards despite a bearish market momentum. At press time, the token was changing hands for $333, representing a jump of 3% in the past day.<\/p>\n","post_title":"Binance Launches SUI Farming With Staked BNB And TrueUSD","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-launches-sui-farming-with-staked-bnb-and-trueusd","to_ping":"","pinged":"","post_modified":"2023-05-04 13:03:20","post_modified_gmt":"2023-05-04 03:03:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
According to a\u00a0court filing<\/a>\u00a0on Friday, Ripple argued that July\u2019s ruling did not present a 'controlling question of law'. Ripple claims that the legal issues are not significant enough to warrant appellate court intervention.<\/p>\n\n\n\n
Additionally, the other argument Ripple has put forth is that the SEC cannot demonstrate that different judges might disagree with Judge Torres\u2019 ruling. Ripple points out that for an appeal to be approved, there must be a credible belief that alternative judges might reach a different conclusion.<\/p>\n\n\n\n
Ripple\u2019s Opposition to SEC's Appeal<\/h2>\n\n\n\n
Ripple contends that the SEC\u2019s appeal would not lead to a quicker resolution of the overall case. According to the company, one ground for approving an appeal is facilitating a speedier conclusion of the legal proceedings. If accepted, Ripple argues that an appeal would prolong the case, adding to its complexity and uncertainty.<\/p>\n\n\n\n
The legal battle<\/a> between Ripple and the SEC has been ongoing since December 2020, when the SEC filed a lawsuit against Ripple, CEO Brad Garlinghouse, and co-founder Chris Larsen. The SEC accused them of raising over $1.3 billion through an unregistered security offering by selling the XRP. This legal clash prompted several cryptocurrency exchanges to delist the XRP token to mitigate potential legal risks.<\/p>\n\n\n\n
The SEC\u2019s actions in 2023 have extended beyond Ripple, targeting multiple cryptocurrency firms over alleged securities violations, including Binance and Coinbase. In a recent development, asset manager Grayscale achieved a court victory<\/a> against the SEC, leading to a review of its application for spot Bitcoin exchange-traded fund (ETF), Reuters<\/em> reported.  <\/p>\n","post_title":"Ripple Challenges SEC\u2019s Bid For Appeal In Legal Battle","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-challenges-secs-bid-for-appeal-in-legal-battle","to_ping":"","pinged":"","post_modified":"2023-09-03 12:11:59","post_modified_gmt":"2023-09-03 02:11:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13226","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":13144,"post_author":"21","post_date":"2023-08-29 23:38:34","post_date_gmt":"2023-08-29 13:38:34","post_content":"\n
\n
Shibarium has resumed withdrawals of ecosystem tokens.<\/li>\n\n\n\n
Shibarium is expected to welcome a new era of gaming, DeFi, and metaverse applications.<\/li>\n<\/ul>\n\n\n\n
Shiba Inu developers have announced<\/a> that \u201cShibarium is live and operating well.\u201d<\/em> The Monday update stated, \u201cnow that we've proven that all funds are safe (as we said) and that Shibarium is ready for prime time, we will reopen our channels.\u201d<\/em><\/p>\n\n\n\n
The developers informed the community of the resumption of token withdrawals. Users can withdraw Shiba ecosystem tokens in a period ranging from minutes to days.<\/p>\n\n\n\n
Shib (SHIB), wrapped ether (wETH), and leash (LEASH) tokens will take approximately 45 minutes to 3 hours to withdraw. Bone (BONE) withdrawals will be processed in up to 7 days.<\/p>\n\n\n\n
The withdrawals come following initial bottlenecks after Shibarium officially launched on August 16. An influx of transactions is said to have resulted in network issues that saw millions of dollars trapped. The events triggered sharp bear actions on the market, with Shiba Inu crushing up to 10%. <\/p>\n\n\n\n
Shiba Inu lead developer Shytoshi Kusama reassured users that the team had implemented measures to prevent future outages. Kusama said that Shibarium had witnessed over 65,000 wallets and 350,000 transactions before the Monday update. <\/p>\n\n\n\n
Shibarium To Make Shiba Inu A Serious Blockchain Project<\/h2>\n\n\n\nShibarium is expected to usher in a new era for Shiba Inu, with broader applications in gaming, DeFi, and the metaverse. The layer-2 network<\/a> will have seamless interaction with the primary Layer-1 Ethereum blockchain. <\/p>\n\n\n\n
With the integration, Shibarium will address Ethereum\u2019s high gas fees<\/a> and slow transactions. The scalability increases the usability of the Shiba Inu token, helping it play a greater role in the blockchain ecosystem. <\/p>\n\n\n\n
Shibarium has been a success so far. About 22 million transactions were performed over its four-month testing period. Investors hold big expectations of the ecosystem tokens due to the Shibarium benefits. <\/p>\n","post_title":"Shiba Inu\u2019s Shibarium Bridge Goes Fully Functional After A Shaky Start","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"shiba-inus-shibarium-bridge-goes-fully-functional-after-a-shaky-start","to_ping":"","pinged":"","post_modified":"2023-08-29 23:52:56","post_modified_gmt":"2023-08-29 13:52:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13144","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":12829,"post_author":"15","post_date":"2023-08-03 15:25:08","post_date_gmt":"2023-08-03 05:25:08","post_content":"\n
On Sunday, attackers targeted decentralized finance protocols, stealing over $24 million in cryptocurrency. The attackers exploited a vulnerability in Curve, the automated market maker platform's liquidity pools. <\/p>\n\n\n\n
According to Curve on Twitter<\/a>, the vulnerability was traced back to Vyper, an alternative third-party programming language for Ethereum smart contracts. Curve confirmed that other liquidity pools that do not use this language remain unaffected and secure.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/CurveFinance\/status\/1685693202722848768?s=20\n<\/div><\/figure>\n\n\n\n
Decurity, a decentralized finance security firm, revealed <\/a>that the NFT lending protocol JPEG'd suffered an $11 million cryptocurrency theft. JPEG'd was one of the first to detect the problem in its Curve pool.<\/p>\n\n\n\n
Exploit's Root Cause<\/h2>\n\n\n\n
Curve initially referred to the vulnerability as a typical \"re-entrance\" attack in a Tweet that has since been deleted. Re-entrancy attacks occur when a smart contract interacts with another, leading to incomplete execution.<\/p>\n\n\n\n
Re-entrancy vulnerabilities enable attackers to execute multiple calls in a single function, leading smart contracts to calculate incorrect balances. The $55 million 2016 DAO hack on Ethereum is a notable example.<\/p>\n\n\n\n
Curve initially responded to a Twitter account with a retracted statement, but later clarified their error. Curve confirmed that no wrongdoing occurred for projects integrating Vyper or its users.<\/p>\n\n\n\n
According to Vyper on Twitter, the language's compiler failed, affecting re-entry guards. These guards, included in the projects' code, are designed to protect against re-entry attacks but were ineffective.<\/p>\n\n\n\n
This prevented re-entry guards\u2014protections that were included in the projects\u2019 code and should guard against re-entry attacks\u2014from working, Meir Dolev said to Decrypt. Meir Dolev is the co-founder and CTO of cybersecurity firm Cyvers<\/p>\n","post_title":"DeFi Projects Suffer $24 Million Heist In Curve Pool Exploits","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"defi-projects-suffer-24-million-heist-in-curve-pool-exploits","to_ping":"","pinged":"","post_modified":"2023-08-03 15:25:13","post_modified_gmt":"2023-08-03 05:25:13","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12829","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":12708,"post_author":"21","post_date":"2023-07-25 23:28:55","post_date_gmt":"2023-07-25 13:28:55","post_content":"\n
\n
Worldcoin token, WLD, rose by four-digit percentages after launch and listing on Monday.<\/li>\n\n\n\n
Worldcoin promises biometric proof of identity amid the growing usage of AI.<\/li>\n<\/ul>\n\n\n\n
WLD, the token of the controversial identity-providing crypto project Worldcoin, launched<\/a> on Monday, July 24. Binance announced<\/a> it had listed the token, welcoming users to participate in new trading pairs WLD\/BTC and WLD\/USDT.<\/p>\n\n\n\n
The listing was a significant milestone for WLD as the token generated a frenzy afterwards, rising by four-digit percentages. Binance said that token withdrawal will begin on July 25, 2023, at 17:00 Eastern Eighth District Time. Other exchanges that listed the token were OKX, Huobi, and Bybit.\u00a0<\/p>\n\n\n\n
Worldcoin<\/a> plans to control almost 20% of tokens. The team will use the money for orb production, maintenance, and ecosystem development.<\/p>\n\n\n\n
Worldcoin to provide digital proof of identity<\/h2>\n\n\n\n
Worldcoin has been the centre of attention due to its promise of a biometric proof of identity. Sam Altman, CEO of OpenAI<\/a>, the firm behind ChatGPT, created the crypto project. Altman says World IDs are needed in this era of generative chatbots like ChatGPT.<\/p>\n\n\n\n
Worldcoin uses a device called \"The Orb\" to scan people's irises, generating a personally identifiable Worldcoin ID. The functionality has, however, been criticized for potential security and privacy violations. <\/p>\n\n\n\n
Altman believes Worldcoin would offer a reliable way to distinguish humans from bots while protecting privacy. It will also reduce fraud since only real people can own World IDs.<\/p>\n\n\n\n
Meanwhile, Altman is eyeing a global expansion, with the OpenAI CEO targeting up to 2 billion users. The project has already earned over 2 million users from the beta sign-up period.  <\/p>\n","post_title":"Binance Lists OpenAI-Affiliated Worldcoin Amid High Market Speculation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-lists-openai-affiliated-worldcoin-amid-high-market-speculation","to_ping":"","pinged":"","post_modified":"2023-07-25 23:29:00","post_modified_gmt":"2023-07-25 13:29:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12708","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":12524,"post_author":"1","post_date":"2023-07-15 23:36:16","post_date_gmt":"2023-07-15 13:36:16","post_content":"\n
\n
Ripple scored a landmark victory over the regulator on Thursday.<\/li>\n\n\n\n
The prolonged legal battle is expected to shape the regulations for digital assets.<\/li>\n<\/ul>\n\n\n\n
JP Morgan viewed the court ruling for Ripple as a significant victory. However, according to the investment banking giant, the regulations by enforcement are far from over. <\/p>\n\n\n\n
On Thursday, the US Southern District Court ruled partially in favor of Ripple, the FinTech company that issues XRP. The SEC and Ripple's 2-year legal battle concluded with the ruling that cryptocurrency issuance on exchanges is not an investment contract.<\/p>\n\n\n\n
\"This ruling is undoubtedly a milestone win for the industry. It provides legal clarity and defense around what does and does not constitute a security, and that overall outcome is in favor of what many in the industry had been arguing,\"<\/em> JP Morgan wrote<\/a> in the note seen by Coindesk.<\/p>\n\n\n\n
Following the landmark ruling, the price of cryptocurrencies soared as sentiment changed in the digital asset space. The cost of XRP rose by about 70%, while Bitcoin reached its highest level in more than a year.<\/p>\n\n\n\n
SEC's Next Step<\/h2>\n\n\n\n
However, according to JPMorgan, the ruling may not be the end of what has come to be termed as regulations by enforcement by the SEC, as the regulator could appeal the case or bring similar charges against other cryptocurrency companies.<\/p>\n\n\n\n
In June, Binance, the leading crypto exchange, faced 13 charges from the SEC, one being the sale of unauthorized securities. The regulator sued Coinbase, the largest US cryptocurrency exchange, for security law violations. <\/p>\n\n\n\n
At the start of the year, the SEC brought charges<\/a> against Gemini and Genesis for allegedly violating the securities regulations related to crypto lending. In February, it\u00a0 fined crypto exchange Kraken<\/a>\u00a0$30 million and ordered the platform to cease offering staking services to US users.<\/p>\n","post_title":"Ripple-SEC Ruling \u2018A Win\u2019 For Crypto Industry But Regulatory War Not Over, JP Morgan Says","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-sec-ruling-a-win-for-crypto-industry-but-regulatory-war-not-over-jp-morgan-says","to_ping":"","pinged":"","post_modified":"2023-07-15 23:36:25","post_modified_gmt":"2023-07-15 13:36:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11929,"post_author":"15","post_date":"2023-06-08 22:45:46","post_date_gmt":"2023-06-08 12:45:46","post_content":"\n
Arbitrum, a layer 2 blockchain, halts the process of transactions due to funding issues. With over $2.24 billion in deposits, the network experiences an hour-long standstill due to gas shortage. <\/p>\n\n\n\n
Developers on the Arbitrum Discord server<\/a> faced connectivity issues with the network's sequencer. The software is responsible for bundling and confirming transactions on the Ethereum network.<\/p>\n\n\n\n
According to on-chain records<\/a>, the sequencer exhausted its supply of Ether, the native cryptocurrency of Ethereum used for transaction fees<\/a>. Without sufficient Ether to cover the fees, the sequencer could not process transactions on Ethereum, resulting in Arbitrum coming to a halt.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
What's Next to Arbitrum?<\/h2>\n\n\n\n
Following an hour-long period of transaction processing failure, Arbitrum has resumed its operations. A wallet that had previously transferred funds to the Arbitrum multi-signature wallet sent 1.4 Ether to the sequence. This replenishment enabled the sequencer to resume sending transactions to Ethereum.<\/p>\n\n\n\n
The cause behind the depletion of gas in Arbitrum's sequencer remains uncertain. Since its launch in May 2021, the sequencer has only been manually refuelled with Ether on four occasions.<\/p>\n\n\n\n
The recent event highlights the reliance of Arbitrum on a centralized control point. Offchain Labs, the company behind Arbitrum, has expressed its plans to decentralize the network's sequencer. <\/p>\n","post_title":"Arbitrum Faces Temporary Shutdown Due To Gas Shortage","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"arbitrum-faces-temporary-shutdown-due-to-gas-shortage","to_ping":"","pinged":"","post_modified":"2023-06-08 22:45:55","post_modified_gmt":"2023-06-08 12:45:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11929","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11770,"post_author":"13","post_date":"2023-05-18 00:31:26","post_date_gmt":"2023-05-17 14:31:26","post_content":"\n
\n
Judge Analisa Torres has declined a motion by the commission to seal essential documents in the legal tussle.  <\/li>\n\n\n\n
The price of the native XRP token has surged following the ruling.<\/li>\n<\/ul>\n\n\n\n
A US judge presiding over the case between Ripple and the Securities and Exchange Commission (SEC) has rejected a motion filed by the regulator to seal some of the essential documents.<\/p>\n\n\n\n
Judge Analisa Torres of the US District Court has disagreed<\/a> with SEC\u2019s move to seal Hinman\u2019s Speech documents, comprising emails, text messages, and expert reports, saying they were \u2018judicial documents\u2019 subject to a strong presumption of public access.<\/p>\n\n\n\n
As a recap, the SEC is suing<\/a> Ripple for selling unregistered securities. At the centre of the legal matter is a controversial speech by the former finance division director at the commission, William Hinman, who stated that Ether, the native cryptocurrency to the Ethereum blockchain, was not a security. The statement is believed to influence the much-awaited summary judgment considerably.<\/p>\n\n\n\n
The SEC\u2019s Position On The Matter<\/h2>\n\n\n\n
On December 22, the SEC filed a motion before Judge Torres to have all the documents containing Hinman\u2019s speech sealed from the public, saying they were irrelevant to the court\u2019s summary judgment. Further, the commission added that having the documents sealed preserved \u2018openness and candour\u2019, which the court has also rejected.<\/p>\n\n\n\n
\u2018\u2018Regardless of whether the court ultimately determines that the Hinman Speech Documents are admissible, or whether the court relies on the documents in ruling on the summary judgment motions, they are judicial documents subject to a strong presumption of public access because they are \u2018relevant to the performance of the judicial function and useful in the judicial process,'\" <\/em>read the ruling.<\/p>\n\n\n\n
XRP has added more than 5% in the past 24 hours following the development and was trading at $0.4487 at the time of writing. <\/p>\n","post_title":"Ripple Scores Major Victory In Case With The SEC As Court Denies Motion Filed By The Regulator","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-scores-major-victory-in-case-with-the-sec-as-court-denies-motion-filed-by-the-regulator","to_ping":"","pinged":"","post_modified":"2023-05-18 00:31:29","post_modified_gmt":"2023-05-17 14:31:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11770","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11728,"post_author":"12","post_date":"2023-05-15 16:06:43","post_date_gmt":"2023-05-15 06:06:43","post_content":"\n
A recent report<\/a> from Financial Times found that Worldcoin, a cryptocurrency project launched by OpenAI CEO Sam Altman, is close to securing $100M in funding. Those already backing the project include; a16z, Digital Currency Group and Coinbase Ventures; the new round of funding includes \u201cexisting and new investors.\u201d<\/em><\/p>\n\n\n\n
The project<\/a> was founded in 2020 by Sam Altman, Alex Blania, and Max Novendstern. With over 1,697,000 sign ups already, Worldcoin aims to build \"the world\u2019s largest identity and financial network as a public utility, giving ownership to everyone, [and] to create universal access to the global economy regardless of country or background, accelerating the transition to an economic future that welcomes and benefits every person on the planet.<\/em><\/p>\n\n\n\n
In March 2022, The Information\u00a0reported<\/a>\u00a0that the firm was looking to raise $100M\u00a0from investors through a private token sale, citing two people familiar with the situation. These sources stated that \u201cit\u2019s a bear market, a crypto winter. It\u2019s remarkable for a project in this space to get this amount of investment.\u201d<\/em><\/p>\n\n\n\n
Worldcoin Verification, Adoption, And Account Abstraction<\/h2>\n\n\n\nWorldcoin launched a gas-free crypto wallet in early May of 2023 called World App. This wallet relies on a system called World ID which uses zero-knowledge proofs to verify that you're a real human with either a phone number or iris scan. The gasless transactions rely upon account abstraction<\/a>, a popular protocol on Ethereum, under ERC-4337<\/a>.<\/p>\n\n\n\n
World App is also integrated with Uniswap, so users can swap currencies in the wallet.<\/p>\n\n\n\n
Worldcoin has been in its beta for some time now; within \"the next six weeks\" the blockchain protocol is expected to launch and with that, transactions will begin being recorded.<\/p>\n","post_title":"OpenAI's Sam Altman To Secure $100M For Worldcoin; Will Start Recording Transactions In 6 Weeks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openais-sam-altman-to-secure-100m-for-worldcoin-will-start-recording-transactions-in-6-weeks","to_ping":"","pinged":"","post_modified":"2023-05-15 16:06:46","post_modified_gmt":"2023-05-15 06:06:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11728","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11677,"post_author":"15","post_date":"2023-05-13 00:36:12","post_date_gmt":"2023-05-12 14:36:12","post_content":"\n
In the last 24 hours, $46.37 million worth of $PEPE has been deposited into exchanges. The meme coin has net deposits from 1,176 addresses amounting to $22.94 million. $PEPE has seen a significant drop of 31% in value, shrinking its market value to around $500 million, as reported <\/a>by ScopeProtocol.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/ScopeProtocol\/status\/1656916635134066688?s=20\n<\/div><\/figure>\n\n\n\n
$PEPE is a meme coin that has gained significant popularity in cryptocurrency. It has captured the attention of crypto enthusiasts and investors due to its unique and humorous nature.<\/p>\n\n\n\n
Despite its playful image, $PEPE has also experienced fluctuations in its market price. This volatility is characteristic of many memecoins, as trends, speculation, and the overall sentiment of the market can influence their prices.<\/p>\n\n\n\n
More On Memecoins<\/h2>\n\n\n\n
On May 11, 2023, @lookonchain<\/a>, a prominent cryptocurrency analyst, tweeted<\/a> about $PEPE and $LADYs (another meme coin). In his tweet, he praised how a cryptocurrency trader made huge profits trading meme coins. The trader bought $PEPE on Apr 18 and $LADYS before Elon Musk tweeted. In summary, his investment gained 36x on $PEPE and 35x on $LADYS. <\/p>\n\n\n\n
The meme coin phenomenon has emerged as a culture in the cryptocurrency space. We can notably refer to prominent meme coins like Dogecoin ($DOGE) and Shiba Inu ($SHIB). At the time of writing, these two cryptocurrencies ranked number 8 and number 15, respectively, according to Coinmarketcap. $DOGE and $SHIB have paved the way for other meme coins to gain traction in the crypto market.<\/p>\n","post_title":"Massive $PEPE Deposits Shake Crypto Exchanges; Market Value Plunges","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"massive-pepe-deposits-shake-crypto-exchanges-market-value-plunges","to_ping":"","pinged":"","post_modified":"2023-05-13 00:36:16","post_modified_gmt":"2023-05-12 14:36:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11677","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11401,"post_author":"13","post_date":"2023-05-02 11:29:00","post_date_gmt":"2023-05-02 01:29:00","post_content":"\n
\n
SUI farming will open for two days on BNB and TUSD pools beginning May 1.<\/li>\n\n\n\n
The token is expected to list afterward on Binance against BTC, USDT, TUSD, and BNB.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Binance has unveiled its 33rd project on Binance Luanchpoool, Sui, that allows users to farm SUI tokens using staked BNB and TrueUSD (TUSD).<\/p>\n\n\n\n
According to the announcement<\/a> on April 30, the farming of SUI tokens would run for 2 days beginning May 1. After that, the asset would be listed on Binance under trading pairs SUI\/BTC, SUI\/USDT, SUITUSD, and SUI\/BNB, subject to the relevant liquidity requirements.<\/p>\n\n\n\n
40 million SUI tokens are set for launchpool token rewards, 0.4% of the total token supply of 10 billion. So far, more than 9 million BNB tokens have been staked on the BNB pool, while the TUSD pool has more than 450 million staked TUSD.<\/p>\n\n\n\n
DPoS Layer-1 Blockchain<\/h2>\n\n\n\n
Sui<\/a> operates as a delegated proof of stake (DPoS) layer-1 blockchain<\/a> written on the Move programming language. The project has since raised $300 million in a series B funding round backed by Binance Labs and Coinbase - bringing its valuation to $2 billion.<\/p>\n\n\n\n
The project, hyped by its community of supporters as the \u2018Ethereum Killer\u2019<\/em>, uses a unique technology involving a parallel data model and execution engine to enhance transaction scaling. Besides, the blockchain employs an object-centric model for processing parallel transactions.<\/p>\n\n\n\n
The unveiling has pumped the price of Binance\u2019s native BNB token upwards despite a bearish market momentum. At press time, the token was changing hands for $333, representing a jump of 3% in the past day.<\/p>\n","post_title":"Binance Launches SUI Farming With Staked BNB And TrueUSD","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-launches-sui-farming-with-staked-bnb-and-trueusd","to_ping":"","pinged":"","post_modified":"2023-05-04 13:03:20","post_modified_gmt":"2023-05-04 03:03:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
The SEC\u2019s quest for an appeal revolved around a\u00a0ruling by Judge Analisa Torres<\/a>\u00a0of the Southern District of New York. She determined that Ripple\u2019s sales of XRP did not violate securities law, a landmark ruling welcomed in the cryptocurrency landscape as a potential precedent in light of similar cases brought by the SEC.<\/p>\n\n\n\n
According to a\u00a0 court filing<\/a>\u00a0on Friday, Ripple argued that July\u2019s ruling did not present a 'controlling question of law'. Ripple claims that the legal issues are not significant enough to warrant appellate court intervention.<\/p>\n\n\n\n
Additionally, the other argument Ripple has put forth is that the SEC cannot demonstrate that different judges might disagree with Judge Torres\u2019 ruling. Ripple points out that for an appeal to be approved, there must be a credible belief that alternative judges might reach a different conclusion.<\/p>\n\n\n\n
Ripple\u2019s Opposition to SEC's Appeal<\/h2>\n\n\n\n
Ripple contends that the SEC\u2019s appeal would not lead to a quicker resolution of the overall case. According to the company, one ground for approving an appeal is facilitating a speedier conclusion of the legal proceedings. If accepted, Ripple argues that an appeal would prolong the case, adding to its complexity and uncertainty.<\/p>\n\n\n\n
The legal battle<\/a> between Ripple and the SEC has been ongoing since December 2020, when the SEC filed a lawsuit against Ripple, CEO Brad Garlinghouse, and co-founder Chris Larsen. The SEC accused them of raising over $1.3 billion through an unregistered security offering by selling the XRP. This legal clash prompted several cryptocurrency exchanges to delist the XRP token to mitigate potential legal risks.<\/p>\n\n\n\n
The SEC\u2019s actions in 2023 have extended beyond Ripple, targeting multiple cryptocurrency firms over alleged securities violations, including Binance and Coinbase. In a recent development, asset manager Grayscale achieved a court victory<\/a> against the SEC, leading to a review of its application for spot Bitcoin exchange-traded fund (ETF), Reuters<\/em> reported.  <\/p>\n","post_title":"Ripple Challenges SEC\u2019s Bid For Appeal In Legal Battle","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-challenges-secs-bid-for-appeal-in-legal-battle","to_ping":"","pinged":"","post_modified":"2023-09-03 12:11:59","post_modified_gmt":"2023-09-03 02:11:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13226","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":13144,"post_author":"21","post_date":"2023-08-29 23:38:34","post_date_gmt":"2023-08-29 13:38:34","post_content":"\n
\n
Shibarium has resumed withdrawals of ecosystem tokens.<\/li>\n\n\n\n
Shibarium is expected to welcome a new era of gaming, DeFi, and metaverse applications.<\/li>\n<\/ul>\n\n\n\n
Shiba Inu developers have announced<\/a> that \u201cShibarium is live and operating well.\u201d<\/em> The Monday update stated, \u201cnow that we've proven that all funds are safe (as we said) and that Shibarium is ready for prime time, we will reopen our channels.\u201d<\/em><\/p>\n\n\n\n
The developers informed the community of the resumption of token withdrawals. Users can withdraw Shiba ecosystem tokens in a period ranging from minutes to days.<\/p>\n\n\n\n
Shib (SHIB), wrapped ether (wETH), and leash (LEASH) tokens will take approximately 45 minutes to 3 hours to withdraw. Bone (BONE) withdrawals will be processed in up to 7 days.<\/p>\n\n\n\n
The withdrawals come following initial bottlenecks after Shibarium officially launched on August 16. An influx of transactions is said to have resulted in network issues that saw millions of dollars trapped. The events triggered sharp bear actions on the market, with Shiba Inu crushing up to 10%. <\/p>\n\n\n\n
Shiba Inu lead developer Shytoshi Kusama reassured users that the team had implemented measures to prevent future outages. Kusama said that Shibarium had witnessed over 65,000 wallets and 350,000 transactions before the Monday update. <\/p>\n\n\n\n
Shibarium To Make Shiba Inu A Serious Blockchain Project<\/h2>\n\n\n\nShibarium is expected to usher in a new era for Shiba Inu, with broader applications in gaming, DeFi, and the metaverse. The layer-2 network<\/a> will have seamless interaction with the primary Layer-1 Ethereum blockchain. <\/p>\n\n\n\n
With the integration, Shibarium will address Ethereum\u2019s high gas fees<\/a> and slow transactions. The scalability increases the usability of the Shiba Inu token, helping it play a greater role in the blockchain ecosystem. <\/p>\n\n\n\n
Shibarium has been a success so far. About 22 million transactions were performed over its four-month testing period. Investors hold big expectations of the ecosystem tokens due to the Shibarium benefits. <\/p>\n","post_title":"Shiba Inu\u2019s Shibarium Bridge Goes Fully Functional After A Shaky Start","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"shiba-inus-shibarium-bridge-goes-fully-functional-after-a-shaky-start","to_ping":"","pinged":"","post_modified":"2023-08-29 23:52:56","post_modified_gmt":"2023-08-29 13:52:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13144","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":12829,"post_author":"15","post_date":"2023-08-03 15:25:08","post_date_gmt":"2023-08-03 05:25:08","post_content":"\n
On Sunday, attackers targeted decentralized finance protocols, stealing over $24 million in cryptocurrency. The attackers exploited a vulnerability in Curve, the automated market maker platform's liquidity pools. <\/p>\n\n\n\n
According to Curve on Twitter<\/a>, the vulnerability was traced back to Vyper, an alternative third-party programming language for Ethereum smart contracts. Curve confirmed that other liquidity pools that do not use this language remain unaffected and secure.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/CurveFinance\/status\/1685693202722848768?s=20\n<\/div><\/figure>\n\n\n\n
Decurity, a decentralized finance security firm, revealed <\/a>that the NFT lending protocol JPEG'd suffered an $11 million cryptocurrency theft. JPEG'd was one of the first to detect the problem in its Curve pool.<\/p>\n\n\n\n
Exploit's Root Cause<\/h2>\n\n\n\n
Curve initially referred to the vulnerability as a typical \"re-entrance\" attack in a Tweet that has since been deleted. Re-entrancy attacks occur when a smart contract interacts with another, leading to incomplete execution.<\/p>\n\n\n\n
Re-entrancy vulnerabilities enable attackers to execute multiple calls in a single function, leading smart contracts to calculate incorrect balances. The $55 million 2016 DAO hack on Ethereum is a notable example.<\/p>\n\n\n\n
Curve initially responded to a Twitter account with a retracted statement, but later clarified their error. Curve confirmed that no wrongdoing occurred for projects integrating Vyper or its users.<\/p>\n\n\n\n
According to Vyper on Twitter, the language's compiler failed, affecting re-entry guards. These guards, included in the projects' code, are designed to protect against re-entry attacks but were ineffective.<\/p>\n\n\n\n
This prevented re-entry guards\u2014protections that were included in the projects\u2019 code and should guard against re-entry attacks\u2014from working, Meir Dolev said to Decrypt. Meir Dolev is the co-founder and CTO of cybersecurity firm Cyvers<\/p>\n","post_title":"DeFi Projects Suffer $24 Million Heist In Curve Pool Exploits","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"defi-projects-suffer-24-million-heist-in-curve-pool-exploits","to_ping":"","pinged":"","post_modified":"2023-08-03 15:25:13","post_modified_gmt":"2023-08-03 05:25:13","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12829","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":12708,"post_author":"21","post_date":"2023-07-25 23:28:55","post_date_gmt":"2023-07-25 13:28:55","post_content":"\n
\n
Worldcoin token, WLD, rose by four-digit percentages after launch and listing on Monday.<\/li>\n\n\n\n
Worldcoin promises biometric proof of identity amid the growing usage of AI.<\/li>\n<\/ul>\n\n\n\n
WLD, the token of the controversial identity-providing crypto project Worldcoin, launched<\/a> on Monday, July 24. Binance announced<\/a> it had listed the token, welcoming users to participate in new trading pairs WLD\/BTC and WLD\/USDT.<\/p>\n\n\n\n
The listing was a significant milestone for WLD as the token generated a frenzy afterwards, rising by four-digit percentages. Binance said that token withdrawal will begin on July 25, 2023, at 17:00 Eastern Eighth District Time. Other exchanges that listed the token were OKX, Huobi, and Bybit.\u00a0<\/p>\n\n\n\n
Worldcoin<\/a> plans to control almost 20% of tokens. The team will use the money for orb production, maintenance, and ecosystem development.<\/p>\n\n\n\n
Worldcoin to provide digital proof of identity<\/h2>\n\n\n\n
Worldcoin has been the centre of attention due to its promise of a biometric proof of identity. Sam Altman, CEO of OpenAI<\/a>, the firm behind ChatGPT, created the crypto project. Altman says World IDs are needed in this era of generative chatbots like ChatGPT.<\/p>\n\n\n\n
Worldcoin uses a device called \"The Orb\" to scan people's irises, generating a personally identifiable Worldcoin ID. The functionality has, however, been criticized for potential security and privacy violations. <\/p>\n\n\n\n
Altman believes Worldcoin would offer a reliable way to distinguish humans from bots while protecting privacy. It will also reduce fraud since only real people can own World IDs.<\/p>\n\n\n\n
Meanwhile, Altman is eyeing a global expansion, with the OpenAI CEO targeting up to 2 billion users. The project has already earned over 2 million users from the beta sign-up period.  <\/p>\n","post_title":"Binance Lists OpenAI-Affiliated Worldcoin Amid High Market Speculation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-lists-openai-affiliated-worldcoin-amid-high-market-speculation","to_ping":"","pinged":"","post_modified":"2023-07-25 23:29:00","post_modified_gmt":"2023-07-25 13:29:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12708","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":12524,"post_author":"1","post_date":"2023-07-15 23:36:16","post_date_gmt":"2023-07-15 13:36:16","post_content":"\n
\n
Ripple scored a landmark victory over the regulator on Thursday.<\/li>\n\n\n\n
The prolonged legal battle is expected to shape the regulations for digital assets.<\/li>\n<\/ul>\n\n\n\n
JP Morgan viewed the court ruling for Ripple as a significant victory. However, according to the investment banking giant, the regulations by enforcement are far from over. <\/p>\n\n\n\n
On Thursday, the US Southern District Court ruled partially in favor of Ripple, the FinTech company that issues XRP. The SEC and Ripple's 2-year legal battle concluded with the ruling that cryptocurrency issuance on exchanges is not an investment contract.<\/p>\n\n\n\n
\"This ruling is undoubtedly a milestone win for the industry. It provides legal clarity and defense around what does and does not constitute a security, and that overall outcome is in favor of what many in the industry had been arguing,\"<\/em> JP Morgan wrote<\/a> in the note seen by Coindesk.<\/p>\n\n\n\n
Following the landmark ruling, the price of cryptocurrencies soared as sentiment changed in the digital asset space. The cost of XRP rose by about 70%, while Bitcoin reached its highest level in more than a year.<\/p>\n\n\n\n
SEC's Next Step<\/h2>\n\n\n\n
However, according to JPMorgan, the ruling may not be the end of what has come to be termed as regulations by enforcement by the SEC, as the regulator could appeal the case or bring similar charges against other cryptocurrency companies.<\/p>\n\n\n\n
In June, Binance, the leading crypto exchange, faced 13 charges from the SEC, one being the sale of unauthorized securities. The regulator sued Coinbase, the largest US cryptocurrency exchange, for security law violations. <\/p>\n\n\n\n
At the start of the year, the SEC brought charges<\/a> against Gemini and Genesis for allegedly violating the securities regulations related to crypto lending. In February, it\u00a0 fined crypto exchange Kraken<\/a>\u00a0$30 million and ordered the platform to cease offering staking services to US users.<\/p>\n","post_title":"Ripple-SEC Ruling \u2018A Win\u2019 For Crypto Industry But Regulatory War Not Over, JP Morgan Says","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-sec-ruling-a-win-for-crypto-industry-but-regulatory-war-not-over-jp-morgan-says","to_ping":"","pinged":"","post_modified":"2023-07-15 23:36:25","post_modified_gmt":"2023-07-15 13:36:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11929,"post_author":"15","post_date":"2023-06-08 22:45:46","post_date_gmt":"2023-06-08 12:45:46","post_content":"\n
Arbitrum, a layer 2 blockchain, halts the process of transactions due to funding issues. With over $2.24 billion in deposits, the network experiences an hour-long standstill due to gas shortage. <\/p>\n\n\n\n
Developers on the Arbitrum Discord server<\/a> faced connectivity issues with the network's sequencer. The software is responsible for bundling and confirming transactions on the Ethereum network.<\/p>\n\n\n\n
According to on-chain records<\/a>, the sequencer exhausted its supply of Ether, the native cryptocurrency of Ethereum used for transaction fees<\/a>. Without sufficient Ether to cover the fees, the sequencer could not process transactions on Ethereum, resulting in Arbitrum coming to a halt.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
What's Next to Arbitrum?<\/h2>\n\n\n\n
Following an hour-long period of transaction processing failure, Arbitrum has resumed its operations. A wallet that had previously transferred funds to the Arbitrum multi-signature wallet sent 1.4 Ether to the sequence. This replenishment enabled the sequencer to resume sending transactions to Ethereum.<\/p>\n\n\n\n
The cause behind the depletion of gas in Arbitrum's sequencer remains uncertain. Since its launch in May 2021, the sequencer has only been manually refuelled with Ether on four occasions.<\/p>\n\n\n\n
The recent event highlights the reliance of Arbitrum on a centralized control point. Offchain Labs, the company behind Arbitrum, has expressed its plans to decentralize the network's sequencer. <\/p>\n","post_title":"Arbitrum Faces Temporary Shutdown Due To Gas Shortage","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"arbitrum-faces-temporary-shutdown-due-to-gas-shortage","to_ping":"","pinged":"","post_modified":"2023-06-08 22:45:55","post_modified_gmt":"2023-06-08 12:45:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11929","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11770,"post_author":"13","post_date":"2023-05-18 00:31:26","post_date_gmt":"2023-05-17 14:31:26","post_content":"\n
\n
Judge Analisa Torres has declined a motion by the commission to seal essential documents in the legal tussle.  <\/li>\n\n\n\n
The price of the native XRP token has surged following the ruling.<\/li>\n<\/ul>\n\n\n\n
A US judge presiding over the case between Ripple and the Securities and Exchange Commission (SEC) has rejected a motion filed by the regulator to seal some of the essential documents.<\/p>\n\n\n\n
Judge Analisa Torres of the US District Court has disagreed<\/a> with SEC\u2019s move to seal Hinman\u2019s Speech documents, comprising emails, text messages, and expert reports, saying they were \u2018judicial documents\u2019 subject to a strong presumption of public access.<\/p>\n\n\n\n
As a recap, the SEC is suing<\/a> Ripple for selling unregistered securities. At the centre of the legal matter is a controversial speech by the former finance division director at the commission, William Hinman, who stated that Ether, the native cryptocurrency to the Ethereum blockchain, was not a security. The statement is believed to influence the much-awaited summary judgment considerably.<\/p>\n\n\n\n
The SEC\u2019s Position On The Matter<\/h2>\n\n\n\n
On December 22, the SEC filed a motion before Judge Torres to have all the documents containing Hinman\u2019s speech sealed from the public, saying they were irrelevant to the court\u2019s summary judgment. Further, the commission added that having the documents sealed preserved \u2018openness and candour\u2019, which the court has also rejected.<\/p>\n\n\n\n
\u2018\u2018Regardless of whether the court ultimately determines that the Hinman Speech Documents are admissible, or whether the court relies on the documents in ruling on the summary judgment motions, they are judicial documents subject to a strong presumption of public access because they are \u2018relevant to the performance of the judicial function and useful in the judicial process,'\" <\/em>read the ruling.<\/p>\n\n\n\n
XRP has added more than 5% in the past 24 hours following the development and was trading at $0.4487 at the time of writing. <\/p>\n","post_title":"Ripple Scores Major Victory In Case With The SEC As Court Denies Motion Filed By The Regulator","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-scores-major-victory-in-case-with-the-sec-as-court-denies-motion-filed-by-the-regulator","to_ping":"","pinged":"","post_modified":"2023-05-18 00:31:29","post_modified_gmt":"2023-05-17 14:31:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11770","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11728,"post_author":"12","post_date":"2023-05-15 16:06:43","post_date_gmt":"2023-05-15 06:06:43","post_content":"\n
A recent report<\/a> from Financial Times found that Worldcoin, a cryptocurrency project launched by OpenAI CEO Sam Altman, is close to securing $100M in funding. Those already backing the project include; a16z, Digital Currency Group and Coinbase Ventures; the new round of funding includes \u201cexisting and new investors.\u201d<\/em><\/p>\n\n\n\n
The project<\/a> was founded in 2020 by Sam Altman, Alex Blania, and Max Novendstern. With over 1,697,000 sign ups already, Worldcoin aims to build \"the world\u2019s largest identity and financial network as a public utility, giving ownership to everyone, [and] to create universal access to the global economy regardless of country or background, accelerating the transition to an economic future that welcomes and benefits every person on the planet.<\/em><\/p>\n\n\n\n
In March 2022, The Information\u00a0reported<\/a>\u00a0that the firm was looking to raise $100M\u00a0from investors through a private token sale, citing two people familiar with the situation. These sources stated that \u201cit\u2019s a bear market, a crypto winter. It\u2019s remarkable for a project in this space to get this amount of investment.\u201d<\/em><\/p>\n\n\n\n
Worldcoin Verification, Adoption, And Account Abstraction<\/h2>\n\n\n\nWorldcoin launched a gas-free crypto wallet in early May of 2023 called World App. This wallet relies on a system called World ID which uses zero-knowledge proofs to verify that you're a real human with either a phone number or iris scan. The gasless transactions rely upon account abstraction<\/a>, a popular protocol on Ethereum, under ERC-4337<\/a>.<\/p>\n\n\n\n
World App is also integrated with Uniswap, so users can swap currencies in the wallet.<\/p>\n\n\n\n
Worldcoin has been in its beta for some time now; within \"the next six weeks\" the blockchain protocol is expected to launch and with that, transactions will begin being recorded.<\/p>\n","post_title":"OpenAI's Sam Altman To Secure $100M For Worldcoin; Will Start Recording Transactions In 6 Weeks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openais-sam-altman-to-secure-100m-for-worldcoin-will-start-recording-transactions-in-6-weeks","to_ping":"","pinged":"","post_modified":"2023-05-15 16:06:46","post_modified_gmt":"2023-05-15 06:06:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11728","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11677,"post_author":"15","post_date":"2023-05-13 00:36:12","post_date_gmt":"2023-05-12 14:36:12","post_content":"\n
In the last 24 hours, $46.37 million worth of $PEPE has been deposited into exchanges. The meme coin has net deposits from 1,176 addresses amounting to $22.94 million. $PEPE has seen a significant drop of 31% in value, shrinking its market value to around $500 million, as reported <\/a>by ScopeProtocol.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/ScopeProtocol\/status\/1656916635134066688?s=20\n<\/div><\/figure>\n\n\n\n
$PEPE is a meme coin that has gained significant popularity in cryptocurrency. It has captured the attention of crypto enthusiasts and investors due to its unique and humorous nature.<\/p>\n\n\n\n
Despite its playful image, $PEPE has also experienced fluctuations in its market price. This volatility is characteristic of many memecoins, as trends, speculation, and the overall sentiment of the market can influence their prices.<\/p>\n\n\n\n
More On Memecoins<\/h2>\n\n\n\n
On May 11, 2023, @lookonchain<\/a>, a prominent cryptocurrency analyst, tweeted<\/a> about $PEPE and $LADYs (another meme coin). In his tweet, he praised how a cryptocurrency trader made huge profits trading meme coins. The trader bought $PEPE on Apr 18 and $LADYS before Elon Musk tweeted. In summary, his investment gained 36x on $PEPE and 35x on $LADYS. <\/p>\n\n\n\n
The meme coin phenomenon has emerged as a culture in the cryptocurrency space. We can notably refer to prominent meme coins like Dogecoin ($DOGE) and Shiba Inu ($SHIB). At the time of writing, these two cryptocurrencies ranked number 8 and number 15, respectively, according to Coinmarketcap. $DOGE and $SHIB have paved the way for other meme coins to gain traction in the crypto market.<\/p>\n","post_title":"Massive $PEPE Deposits Shake Crypto Exchanges; Market Value Plunges","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"massive-pepe-deposits-shake-crypto-exchanges-market-value-plunges","to_ping":"","pinged":"","post_modified":"2023-05-13 00:36:16","post_modified_gmt":"2023-05-12 14:36:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11677","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11401,"post_author":"13","post_date":"2023-05-02 11:29:00","post_date_gmt":"2023-05-02 01:29:00","post_content":"\n
\n
SUI farming will open for two days on BNB and TUSD pools beginning May 1.<\/li>\n\n\n\n
The token is expected to list afterward on Binance against BTC, USDT, TUSD, and BNB.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Binance has unveiled its 33rd project on Binance Luanchpoool, Sui, that allows users to farm SUI tokens using staked BNB and TrueUSD (TUSD).<\/p>\n\n\n\n
According to the announcement<\/a> on April 30, the farming of SUI tokens would run for 2 days beginning May 1. After that, the asset would be listed on Binance under trading pairs SUI\/BTC, SUI\/USDT, SUITUSD, and SUI\/BNB, subject to the relevant liquidity requirements.<\/p>\n\n\n\n
40 million SUI tokens are set for launchpool token rewards, 0.4% of the total token supply of 10 billion. So far, more than 9 million BNB tokens have been staked on the BNB pool, while the TUSD pool has more than 450 million staked TUSD.<\/p>\n\n\n\n
DPoS Layer-1 Blockchain<\/h2>\n\n\n\n
Sui<\/a> operates as a delegated proof of stake (DPoS) layer-1 blockchain<\/a> written on the Move programming language. The project has since raised $300 million in a series B funding round backed by Binance Labs and Coinbase - bringing its valuation to $2 billion.<\/p>\n\n\n\n
The project, hyped by its community of supporters as the \u2018Ethereum Killer\u2019<\/em>, uses a unique technology involving a parallel data model and execution engine to enhance transaction scaling. Besides, the blockchain employs an object-centric model for processing parallel transactions.<\/p>\n\n\n\n
The unveiling has pumped the price of Binance\u2019s native BNB token upwards despite a bearish market momentum. At press time, the token was changing hands for $333, representing a jump of 3% in the past day.<\/p>\n","post_title":"Binance Launches SUI Farming With Staked BNB And TrueUSD","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-launches-sui-farming-with-staked-bnb-and-trueusd","to_ping":"","pinged":"","post_modified":"2023-05-04 13:03:20","post_modified_gmt":"2023-05-04 03:03:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
Ripple has fired back at the Securities and Exchange Commission (SEC), contesting the regulator\u2019s attempt to appeal a federal judge\u2019s ruling from July. The blockchain-based digital payments network asserts that the SEC has not met the requirements to justify an appeal.<\/p>\n\n\n\n
The SEC\u2019s quest for an appeal revolved around a\u00a0ruling by Judge Analisa Torres<\/a>\u00a0of the Southern District of New York. She determined that Ripple\u2019s sales of XRP did not violate securities law, a landmark ruling welcomed in the cryptocurrency landscape as a potential precedent in light of similar cases brought by the SEC.<\/p>\n\n\n\n
According to a\u00a0 court filing<\/a>\u00a0on Friday, Ripple argued that July\u2019s ruling did not present a 'controlling question of law'. Ripple claims that the legal issues are not significant enough to warrant appellate court intervention.<\/p>\n\n\n\n
Additionally, the other argument Ripple has put forth is that the SEC cannot demonstrate that different judges might disagree with Judge Torres\u2019 ruling. Ripple points out that for an appeal to be approved, there must be a credible belief that alternative judges might reach a different conclusion.<\/p>\n\n\n\n
Ripple\u2019s Opposition to SEC's Appeal<\/h2>\n\n\n\n
Ripple contends that the SEC\u2019s appeal would not lead to a quicker resolution of the overall case. According to the company, one ground for approving an appeal is facilitating a speedier conclusion of the legal proceedings. If accepted, Ripple argues that an appeal would prolong the case, adding to its complexity and uncertainty.<\/p>\n\n\n\n
The legal battle<\/a> between Ripple and the SEC has been ongoing since December 2020, when the SEC filed a lawsuit against Ripple, CEO Brad Garlinghouse, and co-founder Chris Larsen. The SEC accused them of raising over $1.3 billion through an unregistered security offering by selling the XRP. This legal clash prompted several cryptocurrency exchanges to delist the XRP token to mitigate potential legal risks.<\/p>\n\n\n\n
The SEC\u2019s actions in 2023 have extended beyond Ripple, targeting multiple cryptocurrency firms over alleged securities violations, including Binance and Coinbase. In a recent development, asset manager Grayscale achieved a court victory<\/a> against the SEC, leading to a review of its application for spot Bitcoin exchange-traded fund (ETF), Reuters<\/em> reported.  <\/p>\n","post_title":"Ripple Challenges SEC\u2019s Bid For Appeal In Legal Battle","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-challenges-secs-bid-for-appeal-in-legal-battle","to_ping":"","pinged":"","post_modified":"2023-09-03 12:11:59","post_modified_gmt":"2023-09-03 02:11:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13226","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":13144,"post_author":"21","post_date":"2023-08-29 23:38:34","post_date_gmt":"2023-08-29 13:38:34","post_content":"\n
\n
Shibarium has resumed withdrawals of ecosystem tokens.<\/li>\n\n\n\n
Shibarium is expected to welcome a new era of gaming, DeFi, and metaverse applications.<\/li>\n<\/ul>\n\n\n\n
Shiba Inu developers have announced<\/a> that \u201cShibarium is live and operating well.\u201d<\/em> The Monday update stated, \u201cnow that we've proven that all funds are safe (as we said) and that Shibarium is ready for prime time, we will reopen our channels.\u201d<\/em><\/p>\n\n\n\n
The developers informed the community of the resumption of token withdrawals. Users can withdraw Shiba ecosystem tokens in a period ranging from minutes to days.<\/p>\n\n\n\n
Shib (SHIB), wrapped ether (wETH), and leash (LEASH) tokens will take approximately 45 minutes to 3 hours to withdraw. Bone (BONE) withdrawals will be processed in up to 7 days.<\/p>\n\n\n\n
The withdrawals come following initial bottlenecks after Shibarium officially launched on August 16. An influx of transactions is said to have resulted in network issues that saw millions of dollars trapped. The events triggered sharp bear actions on the market, with Shiba Inu crushing up to 10%. <\/p>\n\n\n\n
Shiba Inu lead developer Shytoshi Kusama reassured users that the team had implemented measures to prevent future outages. Kusama said that Shibarium had witnessed over 65,000 wallets and 350,000 transactions before the Monday update. <\/p>\n\n\n\n
Shibarium To Make Shiba Inu A Serious Blockchain Project<\/h2>\n\n\n\nShibarium is expected to usher in a new era for Shiba Inu, with broader applications in gaming, DeFi, and the metaverse. The layer-2 network<\/a> will have seamless interaction with the primary Layer-1 Ethereum blockchain. <\/p>\n\n\n\n
With the integration, Shibarium will address Ethereum\u2019s high gas fees<\/a> and slow transactions. The scalability increases the usability of the Shiba Inu token, helping it play a greater role in the blockchain ecosystem. <\/p>\n\n\n\n
Shibarium has been a success so far. About 22 million transactions were performed over its four-month testing period. Investors hold big expectations of the ecosystem tokens due to the Shibarium benefits. <\/p>\n","post_title":"Shiba Inu\u2019s Shibarium Bridge Goes Fully Functional After A Shaky Start","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"shiba-inus-shibarium-bridge-goes-fully-functional-after-a-shaky-start","to_ping":"","pinged":"","post_modified":"2023-08-29 23:52:56","post_modified_gmt":"2023-08-29 13:52:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13144","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":12829,"post_author":"15","post_date":"2023-08-03 15:25:08","post_date_gmt":"2023-08-03 05:25:08","post_content":"\n
On Sunday, attackers targeted decentralized finance protocols, stealing over $24 million in cryptocurrency. The attackers exploited a vulnerability in Curve, the automated market maker platform's liquidity pools. <\/p>\n\n\n\n
According to Curve on Twitter<\/a>, the vulnerability was traced back to Vyper, an alternative third-party programming language for Ethereum smart contracts. Curve confirmed that other liquidity pools that do not use this language remain unaffected and secure.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/CurveFinance\/status\/1685693202722848768?s=20\n<\/div><\/figure>\n\n\n\n
Decurity, a decentralized finance security firm, revealed <\/a>that the NFT lending protocol JPEG'd suffered an $11 million cryptocurrency theft. JPEG'd was one of the first to detect the problem in its Curve pool.<\/p>\n\n\n\n
Exploit's Root Cause<\/h2>\n\n\n\n
Curve initially referred to the vulnerability as a typical \"re-entrance\" attack in a Tweet that has since been deleted. Re-entrancy attacks occur when a smart contract interacts with another, leading to incomplete execution.<\/p>\n\n\n\n
Re-entrancy vulnerabilities enable attackers to execute multiple calls in a single function, leading smart contracts to calculate incorrect balances. The $55 million 2016 DAO hack on Ethereum is a notable example.<\/p>\n\n\n\n
Curve initially responded to a Twitter account with a retracted statement, but later clarified their error. Curve confirmed that no wrongdoing occurred for projects integrating Vyper or its users.<\/p>\n\n\n\n
According to Vyper on Twitter, the language's compiler failed, affecting re-entry guards. These guards, included in the projects' code, are designed to protect against re-entry attacks but were ineffective.<\/p>\n\n\n\n
This prevented re-entry guards\u2014protections that were included in the projects\u2019 code and should guard against re-entry attacks\u2014from working, Meir Dolev said to Decrypt. Meir Dolev is the co-founder and CTO of cybersecurity firm Cyvers<\/p>\n","post_title":"DeFi Projects Suffer $24 Million Heist In Curve Pool Exploits","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"defi-projects-suffer-24-million-heist-in-curve-pool-exploits","to_ping":"","pinged":"","post_modified":"2023-08-03 15:25:13","post_modified_gmt":"2023-08-03 05:25:13","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12829","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":12708,"post_author":"21","post_date":"2023-07-25 23:28:55","post_date_gmt":"2023-07-25 13:28:55","post_content":"\n
\n
Worldcoin token, WLD, rose by four-digit percentages after launch and listing on Monday.<\/li>\n\n\n\n
Worldcoin promises biometric proof of identity amid the growing usage of AI.<\/li>\n<\/ul>\n\n\n\n
WLD, the token of the controversial identity-providing crypto project Worldcoin, launched<\/a> on Monday, July 24. Binance announced<\/a> it had listed the token, welcoming users to participate in new trading pairs WLD\/BTC and WLD\/USDT.<\/p>\n\n\n\n
The listing was a significant milestone for WLD as the token generated a frenzy afterwards, rising by four-digit percentages. Binance said that token withdrawal will begin on July 25, 2023, at 17:00 Eastern Eighth District Time. Other exchanges that listed the token were OKX, Huobi, and Bybit.\u00a0<\/p>\n\n\n\n
Worldcoin<\/a> plans to control almost 20% of tokens. The team will use the money for orb production, maintenance, and ecosystem development.<\/p>\n\n\n\n
Worldcoin to provide digital proof of identity<\/h2>\n\n\n\n
Worldcoin has been the centre of attention due to its promise of a biometric proof of identity. Sam Altman, CEO of OpenAI<\/a>, the firm behind ChatGPT, created the crypto project. Altman says World IDs are needed in this era of generative chatbots like ChatGPT.<\/p>\n\n\n\n
Worldcoin uses a device called \"The Orb\" to scan people's irises, generating a personally identifiable Worldcoin ID. The functionality has, however, been criticized for potential security and privacy violations. <\/p>\n\n\n\n
Altman believes Worldcoin would offer a reliable way to distinguish humans from bots while protecting privacy. It will also reduce fraud since only real people can own World IDs.<\/p>\n\n\n\n
Meanwhile, Altman is eyeing a global expansion, with the OpenAI CEO targeting up to 2 billion users. The project has already earned over 2 million users from the beta sign-up period.  <\/p>\n","post_title":"Binance Lists OpenAI-Affiliated Worldcoin Amid High Market Speculation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-lists-openai-affiliated-worldcoin-amid-high-market-speculation","to_ping":"","pinged":"","post_modified":"2023-07-25 23:29:00","post_modified_gmt":"2023-07-25 13:29:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12708","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":12524,"post_author":"1","post_date":"2023-07-15 23:36:16","post_date_gmt":"2023-07-15 13:36:16","post_content":"\n
\n
Ripple scored a landmark victory over the regulator on Thursday.<\/li>\n\n\n\n
The prolonged legal battle is expected to shape the regulations for digital assets.<\/li>\n<\/ul>\n\n\n\n
JP Morgan viewed the court ruling for Ripple as a significant victory. However, according to the investment banking giant, the regulations by enforcement are far from over. <\/p>\n\n\n\n
On Thursday, the US Southern District Court ruled partially in favor of Ripple, the FinTech company that issues XRP. The SEC and Ripple's 2-year legal battle concluded with the ruling that cryptocurrency issuance on exchanges is not an investment contract.<\/p>\n\n\n\n
\"This ruling is undoubtedly a milestone win for the industry. It provides legal clarity and defense around what does and does not constitute a security, and that overall outcome is in favor of what many in the industry had been arguing,\"<\/em> JP Morgan wrote<\/a> in the note seen by Coindesk.<\/p>\n\n\n\n
Following the landmark ruling, the price of cryptocurrencies soared as sentiment changed in the digital asset space. The cost of XRP rose by about 70%, while Bitcoin reached its highest level in more than a year.<\/p>\n\n\n\n
SEC's Next Step<\/h2>\n\n\n\n
However, according to JPMorgan, the ruling may not be the end of what has come to be termed as regulations by enforcement by the SEC, as the regulator could appeal the case or bring similar charges against other cryptocurrency companies.<\/p>\n\n\n\n
In June, Binance, the leading crypto exchange, faced 13 charges from the SEC, one being the sale of unauthorized securities. The regulator sued Coinbase, the largest US cryptocurrency exchange, for security law violations. <\/p>\n\n\n\n
At the start of the year, the SEC brought charges<\/a> against Gemini and Genesis for allegedly violating the securities regulations related to crypto lending. In February, it\u00a0 fined crypto exchange Kraken<\/a>\u00a0$30 million and ordered the platform to cease offering staking services to US users.<\/p>\n","post_title":"Ripple-SEC Ruling \u2018A Win\u2019 For Crypto Industry But Regulatory War Not Over, JP Morgan Says","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-sec-ruling-a-win-for-crypto-industry-but-regulatory-war-not-over-jp-morgan-says","to_ping":"","pinged":"","post_modified":"2023-07-15 23:36:25","post_modified_gmt":"2023-07-15 13:36:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11929,"post_author":"15","post_date":"2023-06-08 22:45:46","post_date_gmt":"2023-06-08 12:45:46","post_content":"\n
Arbitrum, a layer 2 blockchain, halts the process of transactions due to funding issues. With over $2.24 billion in deposits, the network experiences an hour-long standstill due to gas shortage. <\/p>\n\n\n\n
Developers on the Arbitrum Discord server<\/a> faced connectivity issues with the network's sequencer. The software is responsible for bundling and confirming transactions on the Ethereum network.<\/p>\n\n\n\n
According to on-chain records<\/a>, the sequencer exhausted its supply of Ether, the native cryptocurrency of Ethereum used for transaction fees<\/a>. Without sufficient Ether to cover the fees, the sequencer could not process transactions on Ethereum, resulting in Arbitrum coming to a halt.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
What's Next to Arbitrum?<\/h2>\n\n\n\n
Following an hour-long period of transaction processing failure, Arbitrum has resumed its operations. A wallet that had previously transferred funds to the Arbitrum multi-signature wallet sent 1.4 Ether to the sequence. This replenishment enabled the sequencer to resume sending transactions to Ethereum.<\/p>\n\n\n\n
The cause behind the depletion of gas in Arbitrum's sequencer remains uncertain. Since its launch in May 2021, the sequencer has only been manually refuelled with Ether on four occasions.<\/p>\n\n\n\n
The recent event highlights the reliance of Arbitrum on a centralized control point. Offchain Labs, the company behind Arbitrum, has expressed its plans to decentralize the network's sequencer. <\/p>\n","post_title":"Arbitrum Faces Temporary Shutdown Due To Gas Shortage","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"arbitrum-faces-temporary-shutdown-due-to-gas-shortage","to_ping":"","pinged":"","post_modified":"2023-06-08 22:45:55","post_modified_gmt":"2023-06-08 12:45:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11929","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11770,"post_author":"13","post_date":"2023-05-18 00:31:26","post_date_gmt":"2023-05-17 14:31:26","post_content":"\n
\n
Judge Analisa Torres has declined a motion by the commission to seal essential documents in the legal tussle.  <\/li>\n\n\n\n
The price of the native XRP token has surged following the ruling.<\/li>\n<\/ul>\n\n\n\n
A US judge presiding over the case between Ripple and the Securities and Exchange Commission (SEC) has rejected a motion filed by the regulator to seal some of the essential documents.<\/p>\n\n\n\n
Judge Analisa Torres of the US District Court has disagreed<\/a> with SEC\u2019s move to seal Hinman\u2019s Speech documents, comprising emails, text messages, and expert reports, saying they were \u2018judicial documents\u2019 subject to a strong presumption of public access.<\/p>\n\n\n\n
As a recap, the SEC is suing<\/a> Ripple for selling unregistered securities. At the centre of the legal matter is a controversial speech by the former finance division director at the commission, William Hinman, who stated that Ether, the native cryptocurrency to the Ethereum blockchain, was not a security. The statement is believed to influence the much-awaited summary judgment considerably.<\/p>\n\n\n\n
The SEC\u2019s Position On The Matter<\/h2>\n\n\n\n
On December 22, the SEC filed a motion before Judge Torres to have all the documents containing Hinman\u2019s speech sealed from the public, saying they were irrelevant to the court\u2019s summary judgment. Further, the commission added that having the documents sealed preserved \u2018openness and candour\u2019, which the court has also rejected.<\/p>\n\n\n\n
\u2018\u2018Regardless of whether the court ultimately determines that the Hinman Speech Documents are admissible, or whether the court relies on the documents in ruling on the summary judgment motions, they are judicial documents subject to a strong presumption of public access because they are \u2018relevant to the performance of the judicial function and useful in the judicial process,'\" <\/em>read the ruling.<\/p>\n\n\n\n
XRP has added more than 5% in the past 24 hours following the development and was trading at $0.4487 at the time of writing. <\/p>\n","post_title":"Ripple Scores Major Victory In Case With The SEC As Court Denies Motion Filed By The Regulator","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-scores-major-victory-in-case-with-the-sec-as-court-denies-motion-filed-by-the-regulator","to_ping":"","pinged":"","post_modified":"2023-05-18 00:31:29","post_modified_gmt":"2023-05-17 14:31:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11770","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11728,"post_author":"12","post_date":"2023-05-15 16:06:43","post_date_gmt":"2023-05-15 06:06:43","post_content":"\n
A recent report<\/a> from Financial Times found that Worldcoin, a cryptocurrency project launched by OpenAI CEO Sam Altman, is close to securing $100M in funding. Those already backing the project include; a16z, Digital Currency Group and Coinbase Ventures; the new round of funding includes \u201cexisting and new investors.\u201d<\/em><\/p>\n\n\n\n
The project<\/a> was founded in 2020 by Sam Altman, Alex Blania, and Max Novendstern. With over 1,697,000 sign ups already, Worldcoin aims to build \"the world\u2019s largest identity and financial network as a public utility, giving ownership to everyone, [and] to create universal access to the global economy regardless of country or background, accelerating the transition to an economic future that welcomes and benefits every person on the planet.<\/em><\/p>\n\n\n\n
In March 2022, The Information\u00a0reported<\/a>\u00a0that the firm was looking to raise $100M\u00a0from investors through a private token sale, citing two people familiar with the situation. These sources stated that \u201cit\u2019s a bear market, a crypto winter. It\u2019s remarkable for a project in this space to get this amount of investment.\u201d<\/em><\/p>\n\n\n\n
Worldcoin Verification, Adoption, And Account Abstraction<\/h2>\n\n\n\nWorldcoin launched a gas-free crypto wallet in early May of 2023 called World App. This wallet relies on a system called World ID which uses zero-knowledge proofs to verify that you're a real human with either a phone number or iris scan. The gasless transactions rely upon account abstraction<\/a>, a popular protocol on Ethereum, under ERC-4337<\/a>.<\/p>\n\n\n\n
World App is also integrated with Uniswap, so users can swap currencies in the wallet.<\/p>\n\n\n\n
Worldcoin has been in its beta for some time now; within \"the next six weeks\" the blockchain protocol is expected to launch and with that, transactions will begin being recorded.<\/p>\n","post_title":"OpenAI's Sam Altman To Secure $100M For Worldcoin; Will Start Recording Transactions In 6 Weeks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openais-sam-altman-to-secure-100m-for-worldcoin-will-start-recording-transactions-in-6-weeks","to_ping":"","pinged":"","post_modified":"2023-05-15 16:06:46","post_modified_gmt":"2023-05-15 06:06:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11728","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11677,"post_author":"15","post_date":"2023-05-13 00:36:12","post_date_gmt":"2023-05-12 14:36:12","post_content":"\n
In the last 24 hours, $46.37 million worth of $PEPE has been deposited into exchanges. The meme coin has net deposits from 1,176 addresses amounting to $22.94 million. $PEPE has seen a significant drop of 31% in value, shrinking its market value to around $500 million, as reported <\/a>by ScopeProtocol.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/ScopeProtocol\/status\/1656916635134066688?s=20\n<\/div><\/figure>\n\n\n\n
$PEPE is a meme coin that has gained significant popularity in cryptocurrency. It has captured the attention of crypto enthusiasts and investors due to its unique and humorous nature.<\/p>\n\n\n\n
Despite its playful image, $PEPE has also experienced fluctuations in its market price. This volatility is characteristic of many memecoins, as trends, speculation, and the overall sentiment of the market can influence their prices.<\/p>\n\n\n\n
More On Memecoins<\/h2>\n\n\n\n
On May 11, 2023, @lookonchain<\/a>, a prominent cryptocurrency analyst, tweeted<\/a> about $PEPE and $LADYs (another meme coin). In his tweet, he praised how a cryptocurrency trader made huge profits trading meme coins. The trader bought $PEPE on Apr 18 and $LADYS before Elon Musk tweeted. In summary, his investment gained 36x on $PEPE and 35x on $LADYS. <\/p>\n\n\n\n
The meme coin phenomenon has emerged as a culture in the cryptocurrency space. We can notably refer to prominent meme coins like Dogecoin ($DOGE) and Shiba Inu ($SHIB). At the time of writing, these two cryptocurrencies ranked number 8 and number 15, respectively, according to Coinmarketcap. $DOGE and $SHIB have paved the way for other meme coins to gain traction in the crypto market.<\/p>\n","post_title":"Massive $PEPE Deposits Shake Crypto Exchanges; Market Value Plunges","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"massive-pepe-deposits-shake-crypto-exchanges-market-value-plunges","to_ping":"","pinged":"","post_modified":"2023-05-13 00:36:16","post_modified_gmt":"2023-05-12 14:36:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11677","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11401,"post_author":"13","post_date":"2023-05-02 11:29:00","post_date_gmt":"2023-05-02 01:29:00","post_content":"\n
\n
SUI farming will open for two days on BNB and TUSD pools beginning May 1.<\/li>\n\n\n\n
The token is expected to list afterward on Binance against BTC, USDT, TUSD, and BNB.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Binance has unveiled its 33rd project on Binance Luanchpoool, Sui, that allows users to farm SUI tokens using staked BNB and TrueUSD (TUSD).<\/p>\n\n\n\n
According to the announcement<\/a> on April 30, the farming of SUI tokens would run for 2 days beginning May 1. After that, the asset would be listed on Binance under trading pairs SUI\/BTC, SUI\/USDT, SUITUSD, and SUI\/BNB, subject to the relevant liquidity requirements.<\/p>\n\n\n\n
40 million SUI tokens are set for launchpool token rewards, 0.4% of the total token supply of 10 billion. So far, more than 9 million BNB tokens have been staked on the BNB pool, while the TUSD pool has more than 450 million staked TUSD.<\/p>\n\n\n\n
DPoS Layer-1 Blockchain<\/h2>\n\n\n\n
Sui<\/a> operates as a delegated proof of stake (DPoS) layer-1 blockchain<\/a> written on the Move programming language. The project has since raised $300 million in a series B funding round backed by Binance Labs and Coinbase - bringing its valuation to $2 billion.<\/p>\n\n\n\n
The project, hyped by its community of supporters as the \u2018Ethereum Killer\u2019<\/em>, uses a unique technology involving a parallel data model and execution engine to enhance transaction scaling. Besides, the blockchain employs an object-centric model for processing parallel transactions.<\/p>\n\n\n\n
The unveiling has pumped the price of Binance\u2019s native BNB token upwards despite a bearish market momentum. At press time, the token was changing hands for $333, representing a jump of 3% in the past day.<\/p>\n","post_title":"Binance Launches SUI Farming With Staked BNB And TrueUSD","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-launches-sui-farming-with-staked-bnb-and-trueusd","to_ping":"","pinged":"","post_modified":"2023-05-04 13:03:20","post_modified_gmt":"2023-05-04 03:03:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
Ripple also argued that an appeal would prolong the legal matter.<\/li>\n<\/ul>\n\n\n\n
Ripple has fired back at the Securities and Exchange Commission (SEC), contesting the regulator\u2019s attempt to appeal a federal judge\u2019s ruling from July. The blockchain-based digital payments network asserts that the SEC has not met the requirements to justify an appeal.<\/p>\n\n\n\n
The SEC\u2019s quest for an appeal revolved around a\u00a0ruling by Judge Analisa Torres<\/a>\u00a0of the Southern District of New York. She determined that Ripple\u2019s sales of XRP did not violate securities law, a landmark ruling welcomed in the cryptocurrency landscape as a potential precedent in light of similar cases brought by the SEC.<\/p>\n\n\n\n
According to a\u00a0 court filing<\/a>\u00a0on Friday, Ripple argued that July\u2019s ruling did not present a 'controlling question of law'. Ripple claims that the legal issues are not significant enough to warrant appellate court intervention.<\/p>\n\n\n\n
Additionally, the other argument Ripple has put forth is that the SEC cannot demonstrate that different judges might disagree with Judge Torres\u2019 ruling. Ripple points out that for an appeal to be approved, there must be a credible belief that alternative judges might reach a different conclusion.<\/p>\n\n\n\n
Ripple\u2019s Opposition to SEC's Appeal<\/h2>\n\n\n\n
Ripple contends that the SEC\u2019s appeal would not lead to a quicker resolution of the overall case. According to the company, one ground for approving an appeal is facilitating a speedier conclusion of the legal proceedings. If accepted, Ripple argues that an appeal would prolong the case, adding to its complexity and uncertainty.<\/p>\n\n\n\n
The legal battle<\/a> between Ripple and the SEC has been ongoing since December 2020, when the SEC filed a lawsuit against Ripple, CEO Brad Garlinghouse, and co-founder Chris Larsen. The SEC accused them of raising over $1.3 billion through an unregistered security offering by selling the XRP. This legal clash prompted several cryptocurrency exchanges to delist the XRP token to mitigate potential legal risks.<\/p>\n\n\n\n
The SEC\u2019s actions in 2023 have extended beyond Ripple, targeting multiple cryptocurrency firms over alleged securities violations, including Binance and Coinbase. In a recent development, asset manager Grayscale achieved a court victory<\/a> against the SEC, leading to a review of its application for spot Bitcoin exchange-traded fund (ETF), Reuters<\/em> reported.  <\/p>\n","post_title":"Ripple Challenges SEC\u2019s Bid For Appeal In Legal Battle","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-challenges-secs-bid-for-appeal-in-legal-battle","to_ping":"","pinged":"","post_modified":"2023-09-03 12:11:59","post_modified_gmt":"2023-09-03 02:11:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13226","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":13144,"post_author":"21","post_date":"2023-08-29 23:38:34","post_date_gmt":"2023-08-29 13:38:34","post_content":"\n
\n
Shibarium has resumed withdrawals of ecosystem tokens.<\/li>\n\n\n\n
Shibarium is expected to welcome a new era of gaming, DeFi, and metaverse applications.<\/li>\n<\/ul>\n\n\n\n
Shiba Inu developers have announced<\/a> that \u201cShibarium is live and operating well.\u201d<\/em> The Monday update stated, \u201cnow that we've proven that all funds are safe (as we said) and that Shibarium is ready for prime time, we will reopen our channels.\u201d<\/em><\/p>\n\n\n\n
The developers informed the community of the resumption of token withdrawals. Users can withdraw Shiba ecosystem tokens in a period ranging from minutes to days.<\/p>\n\n\n\n
Shib (SHIB), wrapped ether (wETH), and leash (LEASH) tokens will take approximately 45 minutes to 3 hours to withdraw. Bone (BONE) withdrawals will be processed in up to 7 days.<\/p>\n\n\n\n
The withdrawals come following initial bottlenecks after Shibarium officially launched on August 16. An influx of transactions is said to have resulted in network issues that saw millions of dollars trapped. The events triggered sharp bear actions on the market, with Shiba Inu crushing up to 10%. <\/p>\n\n\n\n
Shiba Inu lead developer Shytoshi Kusama reassured users that the team had implemented measures to prevent future outages. Kusama said that Shibarium had witnessed over 65,000 wallets and 350,000 transactions before the Monday update. <\/p>\n\n\n\n
Shibarium To Make Shiba Inu A Serious Blockchain Project<\/h2>\n\n\n\nShibarium is expected to usher in a new era for Shiba Inu, with broader applications in gaming, DeFi, and the metaverse. The layer-2 network<\/a> will have seamless interaction with the primary Layer-1 Ethereum blockchain. <\/p>\n\n\n\n
With the integration, Shibarium will address Ethereum\u2019s high gas fees<\/a> and slow transactions. The scalability increases the usability of the Shiba Inu token, helping it play a greater role in the blockchain ecosystem. <\/p>\n\n\n\n
Shibarium has been a success so far. About 22 million transactions were performed over its four-month testing period. Investors hold big expectations of the ecosystem tokens due to the Shibarium benefits. <\/p>\n","post_title":"Shiba Inu\u2019s Shibarium Bridge Goes Fully Functional After A Shaky Start","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"shiba-inus-shibarium-bridge-goes-fully-functional-after-a-shaky-start","to_ping":"","pinged":"","post_modified":"2023-08-29 23:52:56","post_modified_gmt":"2023-08-29 13:52:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13144","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":12829,"post_author":"15","post_date":"2023-08-03 15:25:08","post_date_gmt":"2023-08-03 05:25:08","post_content":"\n
On Sunday, attackers targeted decentralized finance protocols, stealing over $24 million in cryptocurrency. The attackers exploited a vulnerability in Curve, the automated market maker platform's liquidity pools. <\/p>\n\n\n\n
According to Curve on Twitter<\/a>, the vulnerability was traced back to Vyper, an alternative third-party programming language for Ethereum smart contracts. Curve confirmed that other liquidity pools that do not use this language remain unaffected and secure.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/CurveFinance\/status\/1685693202722848768?s=20\n<\/div><\/figure>\n\n\n\n
Decurity, a decentralized finance security firm, revealed <\/a>that the NFT lending protocol JPEG'd suffered an $11 million cryptocurrency theft. JPEG'd was one of the first to detect the problem in its Curve pool.<\/p>\n\n\n\n
Exploit's Root Cause<\/h2>\n\n\n\n
Curve initially referred to the vulnerability as a typical \"re-entrance\" attack in a Tweet that has since been deleted. Re-entrancy attacks occur when a smart contract interacts with another, leading to incomplete execution.<\/p>\n\n\n\n
Re-entrancy vulnerabilities enable attackers to execute multiple calls in a single function, leading smart contracts to calculate incorrect balances. The $55 million 2016 DAO hack on Ethereum is a notable example.<\/p>\n\n\n\n
Curve initially responded to a Twitter account with a retracted statement, but later clarified their error. Curve confirmed that no wrongdoing occurred for projects integrating Vyper or its users.<\/p>\n\n\n\n
According to Vyper on Twitter, the language's compiler failed, affecting re-entry guards. These guards, included in the projects' code, are designed to protect against re-entry attacks but were ineffective.<\/p>\n\n\n\n
This prevented re-entry guards\u2014protections that were included in the projects\u2019 code and should guard against re-entry attacks\u2014from working, Meir Dolev said to Decrypt. Meir Dolev is the co-founder and CTO of cybersecurity firm Cyvers<\/p>\n","post_title":"DeFi Projects Suffer $24 Million Heist In Curve Pool Exploits","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"defi-projects-suffer-24-million-heist-in-curve-pool-exploits","to_ping":"","pinged":"","post_modified":"2023-08-03 15:25:13","post_modified_gmt":"2023-08-03 05:25:13","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12829","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":12708,"post_author":"21","post_date":"2023-07-25 23:28:55","post_date_gmt":"2023-07-25 13:28:55","post_content":"\n
\n
Worldcoin token, WLD, rose by four-digit percentages after launch and listing on Monday.<\/li>\n\n\n\n
Worldcoin promises biometric proof of identity amid the growing usage of AI.<\/li>\n<\/ul>\n\n\n\n
WLD, the token of the controversial identity-providing crypto project Worldcoin, launched<\/a> on Monday, July 24. Binance announced<\/a> it had listed the token, welcoming users to participate in new trading pairs WLD\/BTC and WLD\/USDT.<\/p>\n\n\n\n
The listing was a significant milestone for WLD as the token generated a frenzy afterwards, rising by four-digit percentages. Binance said that token withdrawal will begin on July 25, 2023, at 17:00 Eastern Eighth District Time. Other exchanges that listed the token were OKX, Huobi, and Bybit.\u00a0<\/p>\n\n\n\n
Worldcoin<\/a> plans to control almost 20% of tokens. The team will use the money for orb production, maintenance, and ecosystem development.<\/p>\n\n\n\n
Worldcoin to provide digital proof of identity<\/h2>\n\n\n\n
Worldcoin has been the centre of attention due to its promise of a biometric proof of identity. Sam Altman, CEO of OpenAI<\/a>, the firm behind ChatGPT, created the crypto project. Altman says World IDs are needed in this era of generative chatbots like ChatGPT.<\/p>\n\n\n\n
Worldcoin uses a device called \"The Orb\" to scan people's irises, generating a personally identifiable Worldcoin ID. The functionality has, however, been criticized for potential security and privacy violations. <\/p>\n\n\n\n
Altman believes Worldcoin would offer a reliable way to distinguish humans from bots while protecting privacy. It will also reduce fraud since only real people can own World IDs.<\/p>\n\n\n\n
Meanwhile, Altman is eyeing a global expansion, with the OpenAI CEO targeting up to 2 billion users. The project has already earned over 2 million users from the beta sign-up period.  <\/p>\n","post_title":"Binance Lists OpenAI-Affiliated Worldcoin Amid High Market Speculation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-lists-openai-affiliated-worldcoin-amid-high-market-speculation","to_ping":"","pinged":"","post_modified":"2023-07-25 23:29:00","post_modified_gmt":"2023-07-25 13:29:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12708","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":12524,"post_author":"1","post_date":"2023-07-15 23:36:16","post_date_gmt":"2023-07-15 13:36:16","post_content":"\n
\n
Ripple scored a landmark victory over the regulator on Thursday.<\/li>\n\n\n\n
The prolonged legal battle is expected to shape the regulations for digital assets.<\/li>\n<\/ul>\n\n\n\n
JP Morgan viewed the court ruling for Ripple as a significant victory. However, according to the investment banking giant, the regulations by enforcement are far from over. <\/p>\n\n\n\n
On Thursday, the US Southern District Court ruled partially in favor of Ripple, the FinTech company that issues XRP. The SEC and Ripple's 2-year legal battle concluded with the ruling that cryptocurrency issuance on exchanges is not an investment contract.<\/p>\n\n\n\n
\"This ruling is undoubtedly a milestone win for the industry. It provides legal clarity and defense around what does and does not constitute a security, and that overall outcome is in favor of what many in the industry had been arguing,\"<\/em> JP Morgan wrote<\/a> in the note seen by Coindesk.<\/p>\n\n\n\n
Following the landmark ruling, the price of cryptocurrencies soared as sentiment changed in the digital asset space. The cost of XRP rose by about 70%, while Bitcoin reached its highest level in more than a year.<\/p>\n\n\n\n
SEC's Next Step<\/h2>\n\n\n\n
However, according to JPMorgan, the ruling may not be the end of what has come to be termed as regulations by enforcement by the SEC, as the regulator could appeal the case or bring similar charges against other cryptocurrency companies.<\/p>\n\n\n\n
In June, Binance, the leading crypto exchange, faced 13 charges from the SEC, one being the sale of unauthorized securities. The regulator sued Coinbase, the largest US cryptocurrency exchange, for security law violations. <\/p>\n\n\n\n
At the start of the year, the SEC brought charges<\/a> against Gemini and Genesis for allegedly violating the securities regulations related to crypto lending. In February, it\u00a0 fined crypto exchange Kraken<\/a>\u00a0$30 million and ordered the platform to cease offering staking services to US users.<\/p>\n","post_title":"Ripple-SEC Ruling \u2018A Win\u2019 For Crypto Industry But Regulatory War Not Over, JP Morgan Says","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-sec-ruling-a-win-for-crypto-industry-but-regulatory-war-not-over-jp-morgan-says","to_ping":"","pinged":"","post_modified":"2023-07-15 23:36:25","post_modified_gmt":"2023-07-15 13:36:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11929,"post_author":"15","post_date":"2023-06-08 22:45:46","post_date_gmt":"2023-06-08 12:45:46","post_content":"\n
Arbitrum, a layer 2 blockchain, halts the process of transactions due to funding issues. With over $2.24 billion in deposits, the network experiences an hour-long standstill due to gas shortage. <\/p>\n\n\n\n
Developers on the Arbitrum Discord server<\/a> faced connectivity issues with the network's sequencer. The software is responsible for bundling and confirming transactions on the Ethereum network.<\/p>\n\n\n\n
According to on-chain records<\/a>, the sequencer exhausted its supply of Ether, the native cryptocurrency of Ethereum used for transaction fees<\/a>. Without sufficient Ether to cover the fees, the sequencer could not process transactions on Ethereum, resulting in Arbitrum coming to a halt.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
What's Next to Arbitrum?<\/h2>\n\n\n\n
Following an hour-long period of transaction processing failure, Arbitrum has resumed its operations. A wallet that had previously transferred funds to the Arbitrum multi-signature wallet sent 1.4 Ether to the sequence. This replenishment enabled the sequencer to resume sending transactions to Ethereum.<\/p>\n\n\n\n
The cause behind the depletion of gas in Arbitrum's sequencer remains uncertain. Since its launch in May 2021, the sequencer has only been manually refuelled with Ether on four occasions.<\/p>\n\n\n\n
The recent event highlights the reliance of Arbitrum on a centralized control point. Offchain Labs, the company behind Arbitrum, has expressed its plans to decentralize the network's sequencer. <\/p>\n","post_title":"Arbitrum Faces Temporary Shutdown Due To Gas Shortage","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"arbitrum-faces-temporary-shutdown-due-to-gas-shortage","to_ping":"","pinged":"","post_modified":"2023-06-08 22:45:55","post_modified_gmt":"2023-06-08 12:45:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11929","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11770,"post_author":"13","post_date":"2023-05-18 00:31:26","post_date_gmt":"2023-05-17 14:31:26","post_content":"\n
\n
Judge Analisa Torres has declined a motion by the commission to seal essential documents in the legal tussle.  <\/li>\n\n\n\n
The price of the native XRP token has surged following the ruling.<\/li>\n<\/ul>\n\n\n\n
A US judge presiding over the case between Ripple and the Securities and Exchange Commission (SEC) has rejected a motion filed by the regulator to seal some of the essential documents.<\/p>\n\n\n\n
Judge Analisa Torres of the US District Court has disagreed<\/a> with SEC\u2019s move to seal Hinman\u2019s Speech documents, comprising emails, text messages, and expert reports, saying they were \u2018judicial documents\u2019 subject to a strong presumption of public access.<\/p>\n\n\n\n
As a recap, the SEC is suing<\/a> Ripple for selling unregistered securities. At the centre of the legal matter is a controversial speech by the former finance division director at the commission, William Hinman, who stated that Ether, the native cryptocurrency to the Ethereum blockchain, was not a security. The statement is believed to influence the much-awaited summary judgment considerably.<\/p>\n\n\n\n
The SEC\u2019s Position On The Matter<\/h2>\n\n\n\n
On December 22, the SEC filed a motion before Judge Torres to have all the documents containing Hinman\u2019s speech sealed from the public, saying they were irrelevant to the court\u2019s summary judgment. Further, the commission added that having the documents sealed preserved \u2018openness and candour\u2019, which the court has also rejected.<\/p>\n\n\n\n
\u2018\u2018Regardless of whether the court ultimately determines that the Hinman Speech Documents are admissible, or whether the court relies on the documents in ruling on the summary judgment motions, they are judicial documents subject to a strong presumption of public access because they are \u2018relevant to the performance of the judicial function and useful in the judicial process,'\" <\/em>read the ruling.<\/p>\n\n\n\n
XRP has added more than 5% in the past 24 hours following the development and was trading at $0.4487 at the time of writing. <\/p>\n","post_title":"Ripple Scores Major Victory In Case With The SEC As Court Denies Motion Filed By The Regulator","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-scores-major-victory-in-case-with-the-sec-as-court-denies-motion-filed-by-the-regulator","to_ping":"","pinged":"","post_modified":"2023-05-18 00:31:29","post_modified_gmt":"2023-05-17 14:31:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11770","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11728,"post_author":"12","post_date":"2023-05-15 16:06:43","post_date_gmt":"2023-05-15 06:06:43","post_content":"\n
A recent report<\/a> from Financial Times found that Worldcoin, a cryptocurrency project launched by OpenAI CEO Sam Altman, is close to securing $100M in funding. Those already backing the project include; a16z, Digital Currency Group and Coinbase Ventures; the new round of funding includes \u201cexisting and new investors.\u201d<\/em><\/p>\n\n\n\n
The project<\/a> was founded in 2020 by Sam Altman, Alex Blania, and Max Novendstern. With over 1,697,000 sign ups already, Worldcoin aims to build \"the world\u2019s largest identity and financial network as a public utility, giving ownership to everyone, [and] to create universal access to the global economy regardless of country or background, accelerating the transition to an economic future that welcomes and benefits every person on the planet.<\/em><\/p>\n\n\n\n
In March 2022, The Information\u00a0reported<\/a>\u00a0that the firm was looking to raise $100M\u00a0from investors through a private token sale, citing two people familiar with the situation. These sources stated that \u201cit\u2019s a bear market, a crypto winter. It\u2019s remarkable for a project in this space to get this amount of investment.\u201d<\/em><\/p>\n\n\n\n
Worldcoin Verification, Adoption, And Account Abstraction<\/h2>\n\n\n\nWorldcoin launched a gas-free crypto wallet in early May of 2023 called World App. This wallet relies on a system called World ID which uses zero-knowledge proofs to verify that you're a real human with either a phone number or iris scan. The gasless transactions rely upon account abstraction<\/a>, a popular protocol on Ethereum, under ERC-4337<\/a>.<\/p>\n\n\n\n
World App is also integrated with Uniswap, so users can swap currencies in the wallet.<\/p>\n\n\n\n
Worldcoin has been in its beta for some time now; within \"the next six weeks\" the blockchain protocol is expected to launch and with that, transactions will begin being recorded.<\/p>\n","post_title":"OpenAI's Sam Altman To Secure $100M For Worldcoin; Will Start Recording Transactions In 6 Weeks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openais-sam-altman-to-secure-100m-for-worldcoin-will-start-recording-transactions-in-6-weeks","to_ping":"","pinged":"","post_modified":"2023-05-15 16:06:46","post_modified_gmt":"2023-05-15 06:06:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11728","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11677,"post_author":"15","post_date":"2023-05-13 00:36:12","post_date_gmt":"2023-05-12 14:36:12","post_content":"\n
In the last 24 hours, $46.37 million worth of $PEPE has been deposited into exchanges. The meme coin has net deposits from 1,176 addresses amounting to $22.94 million. $PEPE has seen a significant drop of 31% in value, shrinking its market value to around $500 million, as reported <\/a>by ScopeProtocol.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/ScopeProtocol\/status\/1656916635134066688?s=20\n<\/div><\/figure>\n\n\n\n
$PEPE is a meme coin that has gained significant popularity in cryptocurrency. It has captured the attention of crypto enthusiasts and investors due to its unique and humorous nature.<\/p>\n\n\n\n
Despite its playful image, $PEPE has also experienced fluctuations in its market price. This volatility is characteristic of many memecoins, as trends, speculation, and the overall sentiment of the market can influence their prices.<\/p>\n\n\n\n
More On Memecoins<\/h2>\n\n\n\n
On May 11, 2023, @lookonchain<\/a>, a prominent cryptocurrency analyst, tweeted<\/a> about $PEPE and $LADYs (another meme coin). In his tweet, he praised how a cryptocurrency trader made huge profits trading meme coins. The trader bought $PEPE on Apr 18 and $LADYS before Elon Musk tweeted. In summary, his investment gained 36x on $PEPE and 35x on $LADYS. <\/p>\n\n\n\n
The meme coin phenomenon has emerged as a culture in the cryptocurrency space. We can notably refer to prominent meme coins like Dogecoin ($DOGE) and Shiba Inu ($SHIB). At the time of writing, these two cryptocurrencies ranked number 8 and number 15, respectively, according to Coinmarketcap. $DOGE and $SHIB have paved the way for other meme coins to gain traction in the crypto market.<\/p>\n","post_title":"Massive $PEPE Deposits Shake Crypto Exchanges; Market Value Plunges","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"massive-pepe-deposits-shake-crypto-exchanges-market-value-plunges","to_ping":"","pinged":"","post_modified":"2023-05-13 00:36:16","post_modified_gmt":"2023-05-12 14:36:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11677","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11401,"post_author":"13","post_date":"2023-05-02 11:29:00","post_date_gmt":"2023-05-02 01:29:00","post_content":"\n
\n
SUI farming will open for two days on BNB and TUSD pools beginning May 1.<\/li>\n\n\n\n
The token is expected to list afterward on Binance against BTC, USDT, TUSD, and BNB.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Binance has unveiled its 33rd project on Binance Luanchpoool, Sui, that allows users to farm SUI tokens using staked BNB and TrueUSD (TUSD).<\/p>\n\n\n\n
According to the announcement<\/a> on April 30, the farming of SUI tokens would run for 2 days beginning May 1. After that, the asset would be listed on Binance under trading pairs SUI\/BTC, SUI\/USDT, SUITUSD, and SUI\/BNB, subject to the relevant liquidity requirements.<\/p>\n\n\n\n
40 million SUI tokens are set for launchpool token rewards, 0.4% of the total token supply of 10 billion. So far, more than 9 million BNB tokens have been staked on the BNB pool, while the TUSD pool has more than 450 million staked TUSD.<\/p>\n\n\n\n
DPoS Layer-1 Blockchain<\/h2>\n\n\n\n
Sui<\/a> operates as a delegated proof of stake (DPoS) layer-1 blockchain<\/a> written on the Move programming language. The project has since raised $300 million in a series B funding round backed by Binance Labs and Coinbase - bringing its valuation to $2 billion.<\/p>\n\n\n\n
The project, hyped by its community of supporters as the \u2018Ethereum Killer\u2019<\/em>, uses a unique technology involving a parallel data model and execution engine to enhance transaction scaling. Besides, the blockchain employs an object-centric model for processing parallel transactions.<\/p>\n\n\n\n
The unveiling has pumped the price of Binance\u2019s native BNB token upwards despite a bearish market momentum. At press time, the token was changing hands for $333, representing a jump of 3% in the past day.<\/p>\n","post_title":"Binance Launches SUI Farming With Staked BNB And TrueUSD","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-launches-sui-farming-with-staked-bnb-and-trueusd","to_ping":"","pinged":"","post_modified":"2023-05-04 13:03:20","post_modified_gmt":"2023-05-04 03:03:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
The blockchain challenged the SEC\u2019s appeal bid, citing a lack of legal grounds.<\/li>\n\n\n\n
Ripple also argued that an appeal would prolong the legal matter.<\/li>\n<\/ul>\n\n\n\n
Ripple has fired back at the Securities and Exchange Commission (SEC), contesting the regulator\u2019s attempt to appeal a federal judge\u2019s ruling from July. The blockchain-based digital payments network asserts that the SEC has not met the requirements to justify an appeal.<\/p>\n\n\n\n
The SEC\u2019s quest for an appeal revolved around a\u00a0ruling by Judge Analisa Torres<\/a>\u00a0of the Southern District of New York. She determined that Ripple\u2019s sales of XRP did not violate securities law, a landmark ruling welcomed in the cryptocurrency landscape as a potential precedent in light of similar cases brought by the SEC.<\/p>\n\n\n\n
According to a\u00a0 court filing<\/a>\u00a0on Friday, Ripple argued that July\u2019s ruling did not present a 'controlling question of law'. Ripple claims that the legal issues are not significant enough to warrant appellate court intervention.<\/p>\n\n\n\n
Additionally, the other argument Ripple has put forth is that the SEC cannot demonstrate that different judges might disagree with Judge Torres\u2019 ruling. Ripple points out that for an appeal to be approved, there must be a credible belief that alternative judges might reach a different conclusion.<\/p>\n\n\n\n
Ripple\u2019s Opposition to SEC's Appeal<\/h2>\n\n\n\n
Ripple contends that the SEC\u2019s appeal would not lead to a quicker resolution of the overall case. According to the company, one ground for approving an appeal is facilitating a speedier conclusion of the legal proceedings. If accepted, Ripple argues that an appeal would prolong the case, adding to its complexity and uncertainty.<\/p>\n\n\n\n
The legal battle<\/a> between Ripple and the SEC has been ongoing since December 2020, when the SEC filed a lawsuit against Ripple, CEO Brad Garlinghouse, and co-founder Chris Larsen. The SEC accused them of raising over $1.3 billion through an unregistered security offering by selling the XRP. This legal clash prompted several cryptocurrency exchanges to delist the XRP token to mitigate potential legal risks.<\/p>\n\n\n\n
The SEC\u2019s actions in 2023 have extended beyond Ripple, targeting multiple cryptocurrency firms over alleged securities violations, including Binance and Coinbase. In a recent development, asset manager Grayscale achieved a court victory<\/a> against the SEC, leading to a review of its application for spot Bitcoin exchange-traded fund (ETF), Reuters<\/em> reported.  <\/p>\n","post_title":"Ripple Challenges SEC\u2019s Bid For Appeal In Legal Battle","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-challenges-secs-bid-for-appeal-in-legal-battle","to_ping":"","pinged":"","post_modified":"2023-09-03 12:11:59","post_modified_gmt":"2023-09-03 02:11:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13226","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":13144,"post_author":"21","post_date":"2023-08-29 23:38:34","post_date_gmt":"2023-08-29 13:38:34","post_content":"\n
\n
Shibarium has resumed withdrawals of ecosystem tokens.<\/li>\n\n\n\n
Shibarium is expected to welcome a new era of gaming, DeFi, and metaverse applications.<\/li>\n<\/ul>\n\n\n\n
Shiba Inu developers have announced<\/a> that \u201cShibarium is live and operating well.\u201d<\/em> The Monday update stated, \u201cnow that we've proven that all funds are safe (as we said) and that Shibarium is ready for prime time, we will reopen our channels.\u201d<\/em><\/p>\n\n\n\n
The developers informed the community of the resumption of token withdrawals. Users can withdraw Shiba ecosystem tokens in a period ranging from minutes to days.<\/p>\n\n\n\n
Shib (SHIB), wrapped ether (wETH), and leash (LEASH) tokens will take approximately 45 minutes to 3 hours to withdraw. Bone (BONE) withdrawals will be processed in up to 7 days.<\/p>\n\n\n\n
The withdrawals come following initial bottlenecks after Shibarium officially launched on August 16. An influx of transactions is said to have resulted in network issues that saw millions of dollars trapped. The events triggered sharp bear actions on the market, with Shiba Inu crushing up to 10%. <\/p>\n\n\n\n
Shiba Inu lead developer Shytoshi Kusama reassured users that the team had implemented measures to prevent future outages. Kusama said that Shibarium had witnessed over 65,000 wallets and 350,000 transactions before the Monday update. <\/p>\n\n\n\n
Shibarium To Make Shiba Inu A Serious Blockchain Project<\/h2>\n\n\n\nShibarium is expected to usher in a new era for Shiba Inu, with broader applications in gaming, DeFi, and the metaverse. The layer-2 network<\/a> will have seamless interaction with the primary Layer-1 Ethereum blockchain. <\/p>\n\n\n\n
With the integration, Shibarium will address Ethereum\u2019s high gas fees<\/a> and slow transactions. The scalability increases the usability of the Shiba Inu token, helping it play a greater role in the blockchain ecosystem. <\/p>\n\n\n\n
Shibarium has been a success so far. About 22 million transactions were performed over its four-month testing period. Investors hold big expectations of the ecosystem tokens due to the Shibarium benefits. <\/p>\n","post_title":"Shiba Inu\u2019s Shibarium Bridge Goes Fully Functional After A Shaky Start","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"shiba-inus-shibarium-bridge-goes-fully-functional-after-a-shaky-start","to_ping":"","pinged":"","post_modified":"2023-08-29 23:52:56","post_modified_gmt":"2023-08-29 13:52:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13144","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":12829,"post_author":"15","post_date":"2023-08-03 15:25:08","post_date_gmt":"2023-08-03 05:25:08","post_content":"\n
On Sunday, attackers targeted decentralized finance protocols, stealing over $24 million in cryptocurrency. The attackers exploited a vulnerability in Curve, the automated market maker platform's liquidity pools. <\/p>\n\n\n\n
According to Curve on Twitter<\/a>, the vulnerability was traced back to Vyper, an alternative third-party programming language for Ethereum smart contracts. Curve confirmed that other liquidity pools that do not use this language remain unaffected and secure.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/CurveFinance\/status\/1685693202722848768?s=20\n<\/div><\/figure>\n\n\n\n
Decurity, a decentralized finance security firm, revealed <\/a>that the NFT lending protocol JPEG'd suffered an $11 million cryptocurrency theft. JPEG'd was one of the first to detect the problem in its Curve pool.<\/p>\n\n\n\n
Exploit's Root Cause<\/h2>\n\n\n\n
Curve initially referred to the vulnerability as a typical \"re-entrance\" attack in a Tweet that has since been deleted. Re-entrancy attacks occur when a smart contract interacts with another, leading to incomplete execution.<\/p>\n\n\n\n
Re-entrancy vulnerabilities enable attackers to execute multiple calls in a single function, leading smart contracts to calculate incorrect balances. The $55 million 2016 DAO hack on Ethereum is a notable example.<\/p>\n\n\n\n
Curve initially responded to a Twitter account with a retracted statement, but later clarified their error. Curve confirmed that no wrongdoing occurred for projects integrating Vyper or its users.<\/p>\n\n\n\n
According to Vyper on Twitter, the language's compiler failed, affecting re-entry guards. These guards, included in the projects' code, are designed to protect against re-entry attacks but were ineffective.<\/p>\n\n\n\n
This prevented re-entry guards\u2014protections that were included in the projects\u2019 code and should guard against re-entry attacks\u2014from working, Meir Dolev said to Decrypt. Meir Dolev is the co-founder and CTO of cybersecurity firm Cyvers<\/p>\n","post_title":"DeFi Projects Suffer $24 Million Heist In Curve Pool Exploits","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"defi-projects-suffer-24-million-heist-in-curve-pool-exploits","to_ping":"","pinged":"","post_modified":"2023-08-03 15:25:13","post_modified_gmt":"2023-08-03 05:25:13","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12829","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":12708,"post_author":"21","post_date":"2023-07-25 23:28:55","post_date_gmt":"2023-07-25 13:28:55","post_content":"\n
\n
Worldcoin token, WLD, rose by four-digit percentages after launch and listing on Monday.<\/li>\n\n\n\n
Worldcoin promises biometric proof of identity amid the growing usage of AI.<\/li>\n<\/ul>\n\n\n\n
WLD, the token of the controversial identity-providing crypto project Worldcoin, launched<\/a> on Monday, July 24. Binance announced<\/a> it had listed the token, welcoming users to participate in new trading pairs WLD\/BTC and WLD\/USDT.<\/p>\n\n\n\n
The listing was a significant milestone for WLD as the token generated a frenzy afterwards, rising by four-digit percentages. Binance said that token withdrawal will begin on July 25, 2023, at 17:00 Eastern Eighth District Time. Other exchanges that listed the token were OKX, Huobi, and Bybit.\u00a0<\/p>\n\n\n\n
Worldcoin<\/a> plans to control almost 20% of tokens. The team will use the money for orb production, maintenance, and ecosystem development.<\/p>\n\n\n\n
Worldcoin to provide digital proof of identity<\/h2>\n\n\n\n
Worldcoin has been the centre of attention due to its promise of a biometric proof of identity. Sam Altman, CEO of OpenAI<\/a>, the firm behind ChatGPT, created the crypto project. Altman says World IDs are needed in this era of generative chatbots like ChatGPT.<\/p>\n\n\n\n
Worldcoin uses a device called \"The Orb\" to scan people's irises, generating a personally identifiable Worldcoin ID. The functionality has, however, been criticized for potential security and privacy violations. <\/p>\n\n\n\n
Altman believes Worldcoin would offer a reliable way to distinguish humans from bots while protecting privacy. It will also reduce fraud since only real people can own World IDs.<\/p>\n\n\n\n
Meanwhile, Altman is eyeing a global expansion, with the OpenAI CEO targeting up to 2 billion users. The project has already earned over 2 million users from the beta sign-up period.  <\/p>\n","post_title":"Binance Lists OpenAI-Affiliated Worldcoin Amid High Market Speculation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-lists-openai-affiliated-worldcoin-amid-high-market-speculation","to_ping":"","pinged":"","post_modified":"2023-07-25 23:29:00","post_modified_gmt":"2023-07-25 13:29:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12708","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":12524,"post_author":"1","post_date":"2023-07-15 23:36:16","post_date_gmt":"2023-07-15 13:36:16","post_content":"\n
\n
Ripple scored a landmark victory over the regulator on Thursday.<\/li>\n\n\n\n
The prolonged legal battle is expected to shape the regulations for digital assets.<\/li>\n<\/ul>\n\n\n\n
JP Morgan viewed the court ruling for Ripple as a significant victory. However, according to the investment banking giant, the regulations by enforcement are far from over. <\/p>\n\n\n\n
On Thursday, the US Southern District Court ruled partially in favor of Ripple, the FinTech company that issues XRP. The SEC and Ripple's 2-year legal battle concluded with the ruling that cryptocurrency issuance on exchanges is not an investment contract.<\/p>\n\n\n\n
\"This ruling is undoubtedly a milestone win for the industry. It provides legal clarity and defense around what does and does not constitute a security, and that overall outcome is in favor of what many in the industry had been arguing,\"<\/em> JP Morgan wrote<\/a> in the note seen by Coindesk.<\/p>\n\n\n\n
Following the landmark ruling, the price of cryptocurrencies soared as sentiment changed in the digital asset space. The cost of XRP rose by about 70%, while Bitcoin reached its highest level in more than a year.<\/p>\n\n\n\n
SEC's Next Step<\/h2>\n\n\n\n
However, according to JPMorgan, the ruling may not be the end of what has come to be termed as regulations by enforcement by the SEC, as the regulator could appeal the case or bring similar charges against other cryptocurrency companies.<\/p>\n\n\n\n
In June, Binance, the leading crypto exchange, faced 13 charges from the SEC, one being the sale of unauthorized securities. The regulator sued Coinbase, the largest US cryptocurrency exchange, for security law violations. <\/p>\n\n\n\n
At the start of the year, the SEC brought charges<\/a> against Gemini and Genesis for allegedly violating the securities regulations related to crypto lending. In February, it\u00a0 fined crypto exchange Kraken<\/a>\u00a0$30 million and ordered the platform to cease offering staking services to US users.<\/p>\n","post_title":"Ripple-SEC Ruling \u2018A Win\u2019 For Crypto Industry But Regulatory War Not Over, JP Morgan Says","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-sec-ruling-a-win-for-crypto-industry-but-regulatory-war-not-over-jp-morgan-says","to_ping":"","pinged":"","post_modified":"2023-07-15 23:36:25","post_modified_gmt":"2023-07-15 13:36:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11929,"post_author":"15","post_date":"2023-06-08 22:45:46","post_date_gmt":"2023-06-08 12:45:46","post_content":"\n
Arbitrum, a layer 2 blockchain, halts the process of transactions due to funding issues. With over $2.24 billion in deposits, the network experiences an hour-long standstill due to gas shortage. <\/p>\n\n\n\n
Developers on the Arbitrum Discord server<\/a> faced connectivity issues with the network's sequencer. The software is responsible for bundling and confirming transactions on the Ethereum network.<\/p>\n\n\n\n
According to on-chain records<\/a>, the sequencer exhausted its supply of Ether, the native cryptocurrency of Ethereum used for transaction fees<\/a>. Without sufficient Ether to cover the fees, the sequencer could not process transactions on Ethereum, resulting in Arbitrum coming to a halt.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
What's Next to Arbitrum?<\/h2>\n\n\n\n
Following an hour-long period of transaction processing failure, Arbitrum has resumed its operations. A wallet that had previously transferred funds to the Arbitrum multi-signature wallet sent 1.4 Ether to the sequence. This replenishment enabled the sequencer to resume sending transactions to Ethereum.<\/p>\n\n\n\n
The cause behind the depletion of gas in Arbitrum's sequencer remains uncertain. Since its launch in May 2021, the sequencer has only been manually refuelled with Ether on four occasions.<\/p>\n\n\n\n
The recent event highlights the reliance of Arbitrum on a centralized control point. Offchain Labs, the company behind Arbitrum, has expressed its plans to decentralize the network's sequencer. <\/p>\n","post_title":"Arbitrum Faces Temporary Shutdown Due To Gas Shortage","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"arbitrum-faces-temporary-shutdown-due-to-gas-shortage","to_ping":"","pinged":"","post_modified":"2023-06-08 22:45:55","post_modified_gmt":"2023-06-08 12:45:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11929","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11770,"post_author":"13","post_date":"2023-05-18 00:31:26","post_date_gmt":"2023-05-17 14:31:26","post_content":"\n
\n
Judge Analisa Torres has declined a motion by the commission to seal essential documents in the legal tussle.  <\/li>\n\n\n\n
The price of the native XRP token has surged following the ruling.<\/li>\n<\/ul>\n\n\n\n
A US judge presiding over the case between Ripple and the Securities and Exchange Commission (SEC) has rejected a motion filed by the regulator to seal some of the essential documents.<\/p>\n\n\n\n
Judge Analisa Torres of the US District Court has disagreed<\/a> with SEC\u2019s move to seal Hinman\u2019s Speech documents, comprising emails, text messages, and expert reports, saying they were \u2018judicial documents\u2019 subject to a strong presumption of public access.<\/p>\n\n\n\n
As a recap, the SEC is suing<\/a> Ripple for selling unregistered securities. At the centre of the legal matter is a controversial speech by the former finance division director at the commission, William Hinman, who stated that Ether, the native cryptocurrency to the Ethereum blockchain, was not a security. The statement is believed to influence the much-awaited summary judgment considerably.<\/p>\n\n\n\n
The SEC\u2019s Position On The Matter<\/h2>\n\n\n\n
On December 22, the SEC filed a motion before Judge Torres to have all the documents containing Hinman\u2019s speech sealed from the public, saying they were irrelevant to the court\u2019s summary judgment. Further, the commission added that having the documents sealed preserved \u2018openness and candour\u2019, which the court has also rejected.<\/p>\n\n\n\n
\u2018\u2018Regardless of whether the court ultimately determines that the Hinman Speech Documents are admissible, or whether the court relies on the documents in ruling on the summary judgment motions, they are judicial documents subject to a strong presumption of public access because they are \u2018relevant to the performance of the judicial function and useful in the judicial process,'\" <\/em>read the ruling.<\/p>\n\n\n\n
XRP has added more than 5% in the past 24 hours following the development and was trading at $0.4487 at the time of writing. <\/p>\n","post_title":"Ripple Scores Major Victory In Case With The SEC As Court Denies Motion Filed By The Regulator","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-scores-major-victory-in-case-with-the-sec-as-court-denies-motion-filed-by-the-regulator","to_ping":"","pinged":"","post_modified":"2023-05-18 00:31:29","post_modified_gmt":"2023-05-17 14:31:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11770","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11728,"post_author":"12","post_date":"2023-05-15 16:06:43","post_date_gmt":"2023-05-15 06:06:43","post_content":"\n
A recent report<\/a> from Financial Times found that Worldcoin, a cryptocurrency project launched by OpenAI CEO Sam Altman, is close to securing $100M in funding. Those already backing the project include; a16z, Digital Currency Group and Coinbase Ventures; the new round of funding includes \u201cexisting and new investors.\u201d<\/em><\/p>\n\n\n\n
The project<\/a> was founded in 2020 by Sam Altman, Alex Blania, and Max Novendstern. With over 1,697,000 sign ups already, Worldcoin aims to build \"the world\u2019s largest identity and financial network as a public utility, giving ownership to everyone, [and] to create universal access to the global economy regardless of country or background, accelerating the transition to an economic future that welcomes and benefits every person on the planet.<\/em><\/p>\n\n\n\n
In March 2022, The Information\u00a0reported<\/a>\u00a0that the firm was looking to raise $100M\u00a0from investors through a private token sale, citing two people familiar with the situation. These sources stated that \u201cit\u2019s a bear market, a crypto winter. It\u2019s remarkable for a project in this space to get this amount of investment.\u201d<\/em><\/p>\n\n\n\n
Worldcoin Verification, Adoption, And Account Abstraction<\/h2>\n\n\n\nWorldcoin launched a gas-free crypto wallet in early May of 2023 called World App. This wallet relies on a system called World ID which uses zero-knowledge proofs to verify that you're a real human with either a phone number or iris scan. The gasless transactions rely upon account abstraction<\/a>, a popular protocol on Ethereum, under ERC-4337<\/a>.<\/p>\n\n\n\n
World App is also integrated with Uniswap, so users can swap currencies in the wallet.<\/p>\n\n\n\n
Worldcoin has been in its beta for some time now; within \"the next six weeks\" the blockchain protocol is expected to launch and with that, transactions will begin being recorded.<\/p>\n","post_title":"OpenAI's Sam Altman To Secure $100M For Worldcoin; Will Start Recording Transactions In 6 Weeks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openais-sam-altman-to-secure-100m-for-worldcoin-will-start-recording-transactions-in-6-weeks","to_ping":"","pinged":"","post_modified":"2023-05-15 16:06:46","post_modified_gmt":"2023-05-15 06:06:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11728","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11677,"post_author":"15","post_date":"2023-05-13 00:36:12","post_date_gmt":"2023-05-12 14:36:12","post_content":"\n
In the last 24 hours, $46.37 million worth of $PEPE has been deposited into exchanges. The meme coin has net deposits from 1,176 addresses amounting to $22.94 million. $PEPE has seen a significant drop of 31% in value, shrinking its market value to around $500 million, as reported <\/a>by ScopeProtocol.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/ScopeProtocol\/status\/1656916635134066688?s=20\n<\/div><\/figure>\n\n\n\n
$PEPE is a meme coin that has gained significant popularity in cryptocurrency. It has captured the attention of crypto enthusiasts and investors due to its unique and humorous nature.<\/p>\n\n\n\n
Despite its playful image, $PEPE has also experienced fluctuations in its market price. This volatility is characteristic of many memecoins, as trends, speculation, and the overall sentiment of the market can influence their prices.<\/p>\n\n\n\n
More On Memecoins<\/h2>\n\n\n\n
On May 11, 2023, @lookonchain<\/a>, a prominent cryptocurrency analyst, tweeted<\/a> about $PEPE and $LADYs (another meme coin). In his tweet, he praised how a cryptocurrency trader made huge profits trading meme coins. The trader bought $PEPE on Apr 18 and $LADYS before Elon Musk tweeted. In summary, his investment gained 36x on $PEPE and 35x on $LADYS. <\/p>\n\n\n\n
The meme coin phenomenon has emerged as a culture in the cryptocurrency space. We can notably refer to prominent meme coins like Dogecoin ($DOGE) and Shiba Inu ($SHIB). At the time of writing, these two cryptocurrencies ranked number 8 and number 15, respectively, according to Coinmarketcap. $DOGE and $SHIB have paved the way for other meme coins to gain traction in the crypto market.<\/p>\n","post_title":"Massive $PEPE Deposits Shake Crypto Exchanges; Market Value Plunges","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"massive-pepe-deposits-shake-crypto-exchanges-market-value-plunges","to_ping":"","pinged":"","post_modified":"2023-05-13 00:36:16","post_modified_gmt":"2023-05-12 14:36:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11677","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11401,"post_author":"13","post_date":"2023-05-02 11:29:00","post_date_gmt":"2023-05-02 01:29:00","post_content":"\n
\n
SUI farming will open for two days on BNB and TUSD pools beginning May 1.<\/li>\n\n\n\n
The token is expected to list afterward on Binance against BTC, USDT, TUSD, and BNB.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Binance has unveiled its 33rd project on Binance Luanchpoool, Sui, that allows users to farm SUI tokens using staked BNB and TrueUSD (TUSD).<\/p>\n\n\n\n
According to the announcement<\/a> on April 30, the farming of SUI tokens would run for 2 days beginning May 1. After that, the asset would be listed on Binance under trading pairs SUI\/BTC, SUI\/USDT, SUITUSD, and SUI\/BNB, subject to the relevant liquidity requirements.<\/p>\n\n\n\n
40 million SUI tokens are set for launchpool token rewards, 0.4% of the total token supply of 10 billion. So far, more than 9 million BNB tokens have been staked on the BNB pool, while the TUSD pool has more than 450 million staked TUSD.<\/p>\n\n\n\n
DPoS Layer-1 Blockchain<\/h2>\n\n\n\n
Sui<\/a> operates as a delegated proof of stake (DPoS) layer-1 blockchain<\/a> written on the Move programming language. The project has since raised $300 million in a series B funding round backed by Binance Labs and Coinbase - bringing its valuation to $2 billion.<\/p>\n\n\n\n
The project, hyped by its community of supporters as the \u2018Ethereum Killer\u2019<\/em>, uses a unique technology involving a parallel data model and execution engine to enhance transaction scaling. Besides, the blockchain employs an object-centric model for processing parallel transactions.<\/p>\n\n\n\n
The unveiling has pumped the price of Binance\u2019s native BNB token upwards despite a bearish market momentum. At press time, the token was changing hands for $333, representing a jump of 3% in the past day.<\/p>\n","post_title":"Binance Launches SUI Farming With Staked BNB And TrueUSD","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-launches-sui-farming-with-staked-bnb-and-trueusd","to_ping":"","pinged":"","post_modified":"2023-05-04 13:03:20","post_modified_gmt":"2023-05-04 03:03:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
\n
The blockchain challenged the SEC\u2019s appeal bid, citing a lack of legal grounds.<\/li>\n\n\n\n
Ripple also argued that an appeal would prolong the legal matter.<\/li>\n<\/ul>\n\n\n\n
Ripple has fired back at the Securities and Exchange Commission (SEC), contesting the regulator\u2019s attempt to appeal a federal judge\u2019s ruling from July. The blockchain-based digital payments network asserts that the SEC has not met the requirements to justify an appeal.<\/p>\n\n\n\n
The SEC\u2019s quest for an appeal revolved around a\u00a0ruling by Judge Analisa Torres<\/a>\u00a0of the Southern District of New York. She determined that Ripple\u2019s sales of XRP did not violate securities law, a landmark ruling welcomed in the cryptocurrency landscape as a potential precedent in light of similar cases brought by the SEC.<\/p>\n\n\n\n
According to a\u00a0 court filing<\/a>\u00a0on Friday, Ripple argued that July\u2019s ruling did not present a 'controlling question of law'. Ripple claims that the legal issues are not significant enough to warrant appellate court intervention.<\/p>\n\n\n\n
Additionally, the other argument Ripple has put forth is that the SEC cannot demonstrate that different judges might disagree with Judge Torres\u2019 ruling. Ripple points out that for an appeal to be approved, there must be a credible belief that alternative judges might reach a different conclusion.<\/p>\n\n\n\n
Ripple\u2019s Opposition to SEC's Appeal<\/h2>\n\n\n\n
Ripple contends that the SEC\u2019s appeal would not lead to a quicker resolution of the overall case. According to the company, one ground for approving an appeal is facilitating a speedier conclusion of the legal proceedings. If accepted, Ripple argues that an appeal would prolong the case, adding to its complexity and uncertainty.<\/p>\n\n\n\n
The legal battle<\/a> between Ripple and the SEC has been ongoing since December 2020, when the SEC filed a lawsuit against Ripple, CEO Brad Garlinghouse, and co-founder Chris Larsen. The SEC accused them of raising over $1.3 billion through an unregistered security offering by selling the XRP. This legal clash prompted several cryptocurrency exchanges to delist the XRP token to mitigate potential legal risks.<\/p>\n\n\n\n
The SEC\u2019s actions in 2023 have extended beyond Ripple, targeting multiple cryptocurrency firms over alleged securities violations, including Binance and Coinbase. In a recent development, asset manager Grayscale achieved a court victory<\/a> against the SEC, leading to a review of its application for spot Bitcoin exchange-traded fund (ETF), Reuters<\/em> reported.  <\/p>\n","post_title":"Ripple Challenges SEC\u2019s Bid For Appeal In Legal Battle","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-challenges-secs-bid-for-appeal-in-legal-battle","to_ping":"","pinged":"","post_modified":"2023-09-03 12:11:59","post_modified_gmt":"2023-09-03 02:11:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13226","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":13144,"post_author":"21","post_date":"2023-08-29 23:38:34","post_date_gmt":"2023-08-29 13:38:34","post_content":"\n
\n
Shibarium has resumed withdrawals of ecosystem tokens.<\/li>\n\n\n\n
Shibarium is expected to welcome a new era of gaming, DeFi, and metaverse applications.<\/li>\n<\/ul>\n\n\n\n
Shiba Inu developers have announced<\/a> that \u201cShibarium is live and operating well.\u201d<\/em> The Monday update stated, \u201cnow that we've proven that all funds are safe (as we said) and that Shibarium is ready for prime time, we will reopen our channels.\u201d<\/em><\/p>\n\n\n\n
The developers informed the community of the resumption of token withdrawals. Users can withdraw Shiba ecosystem tokens in a period ranging from minutes to days.<\/p>\n\n\n\n
Shib (SHIB), wrapped ether (wETH), and leash (LEASH) tokens will take approximately 45 minutes to 3 hours to withdraw. Bone (BONE) withdrawals will be processed in up to 7 days.<\/p>\n\n\n\n
The withdrawals come following initial bottlenecks after Shibarium officially launched on August 16. An influx of transactions is said to have resulted in network issues that saw millions of dollars trapped. The events triggered sharp bear actions on the market, with Shiba Inu crushing up to 10%. <\/p>\n\n\n\n
Shiba Inu lead developer Shytoshi Kusama reassured users that the team had implemented measures to prevent future outages. Kusama said that Shibarium had witnessed over 65,000 wallets and 350,000 transactions before the Monday update. <\/p>\n\n\n\n
Shibarium To Make Shiba Inu A Serious Blockchain Project<\/h2>\n\n\n\nShibarium is expected to usher in a new era for Shiba Inu, with broader applications in gaming, DeFi, and the metaverse. The layer-2 network<\/a> will have seamless interaction with the primary Layer-1 Ethereum blockchain. <\/p>\n\n\n\n
With the integration, Shibarium will address Ethereum\u2019s high gas fees<\/a> and slow transactions. The scalability increases the usability of the Shiba Inu token, helping it play a greater role in the blockchain ecosystem. <\/p>\n\n\n\n
Shibarium has been a success so far. About 22 million transactions were performed over its four-month testing period. Investors hold big expectations of the ecosystem tokens due to the Shibarium benefits. <\/p>\n","post_title":"Shiba Inu\u2019s Shibarium Bridge Goes Fully Functional After A Shaky Start","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"shiba-inus-shibarium-bridge-goes-fully-functional-after-a-shaky-start","to_ping":"","pinged":"","post_modified":"2023-08-29 23:52:56","post_modified_gmt":"2023-08-29 13:52:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13144","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":12829,"post_author":"15","post_date":"2023-08-03 15:25:08","post_date_gmt":"2023-08-03 05:25:08","post_content":"\n
On Sunday, attackers targeted decentralized finance protocols, stealing over $24 million in cryptocurrency. The attackers exploited a vulnerability in Curve, the automated market maker platform's liquidity pools. <\/p>\n\n\n\n
According to Curve on Twitter<\/a>, the vulnerability was traced back to Vyper, an alternative third-party programming language for Ethereum smart contracts. Curve confirmed that other liquidity pools that do not use this language remain unaffected and secure.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/CurveFinance\/status\/1685693202722848768?s=20\n<\/div><\/figure>\n\n\n\n
Decurity, a decentralized finance security firm, revealed <\/a>that the NFT lending protocol JPEG'd suffered an $11 million cryptocurrency theft. JPEG'd was one of the first to detect the problem in its Curve pool.<\/p>\n\n\n\n
Exploit's Root Cause<\/h2>\n\n\n\n
Curve initially referred to the vulnerability as a typical \"re-entrance\" attack in a Tweet that has since been deleted. Re-entrancy attacks occur when a smart contract interacts with another, leading to incomplete execution.<\/p>\n\n\n\n
Re-entrancy vulnerabilities enable attackers to execute multiple calls in a single function, leading smart contracts to calculate incorrect balances. The $55 million 2016 DAO hack on Ethereum is a notable example.<\/p>\n\n\n\n
Curve initially responded to a Twitter account with a retracted statement, but later clarified their error. Curve confirmed that no wrongdoing occurred for projects integrating Vyper or its users.<\/p>\n\n\n\n
According to Vyper on Twitter, the language's compiler failed, affecting re-entry guards. These guards, included in the projects' code, are designed to protect against re-entry attacks but were ineffective.<\/p>\n\n\n\n
This prevented re-entry guards\u2014protections that were included in the projects\u2019 code and should guard against re-entry attacks\u2014from working, Meir Dolev said to Decrypt. Meir Dolev is the co-founder and CTO of cybersecurity firm Cyvers<\/p>\n","post_title":"DeFi Projects Suffer $24 Million Heist In Curve Pool Exploits","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"defi-projects-suffer-24-million-heist-in-curve-pool-exploits","to_ping":"","pinged":"","post_modified":"2023-08-03 15:25:13","post_modified_gmt":"2023-08-03 05:25:13","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12829","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":12708,"post_author":"21","post_date":"2023-07-25 23:28:55","post_date_gmt":"2023-07-25 13:28:55","post_content":"\n
\n
Worldcoin token, WLD, rose by four-digit percentages after launch and listing on Monday.<\/li>\n\n\n\n
Worldcoin promises biometric proof of identity amid the growing usage of AI.<\/li>\n<\/ul>\n\n\n\n
WLD, the token of the controversial identity-providing crypto project Worldcoin, launched<\/a> on Monday, July 24. Binance announced<\/a> it had listed the token, welcoming users to participate in new trading pairs WLD\/BTC and WLD\/USDT.<\/p>\n\n\n\n
The listing was a significant milestone for WLD as the token generated a frenzy afterwards, rising by four-digit percentages. Binance said that token withdrawal will begin on July 25, 2023, at 17:00 Eastern Eighth District Time. Other exchanges that listed the token were OKX, Huobi, and Bybit.\u00a0<\/p>\n\n\n\n
Worldcoin<\/a> plans to control almost 20% of tokens. The team will use the money for orb production, maintenance, and ecosystem development.<\/p>\n\n\n\n
Worldcoin to provide digital proof of identity<\/h2>\n\n\n\n
Worldcoin has been the centre of attention due to its promise of a biometric proof of identity. Sam Altman, CEO of OpenAI<\/a>, the firm behind ChatGPT, created the crypto project. Altman says World IDs are needed in this era of generative chatbots like ChatGPT.<\/p>\n\n\n\n
Worldcoin uses a device called \"The Orb\" to scan people's irises, generating a personally identifiable Worldcoin ID. The functionality has, however, been criticized for potential security and privacy violations. <\/p>\n\n\n\n
Altman believes Worldcoin would offer a reliable way to distinguish humans from bots while protecting privacy. It will also reduce fraud since only real people can own World IDs.<\/p>\n\n\n\n
Meanwhile, Altman is eyeing a global expansion, with the OpenAI CEO targeting up to 2 billion users. The project has already earned over 2 million users from the beta sign-up period.  <\/p>\n","post_title":"Binance Lists OpenAI-Affiliated Worldcoin Amid High Market Speculation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-lists-openai-affiliated-worldcoin-amid-high-market-speculation","to_ping":"","pinged":"","post_modified":"2023-07-25 23:29:00","post_modified_gmt":"2023-07-25 13:29:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12708","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":12524,"post_author":"1","post_date":"2023-07-15 23:36:16","post_date_gmt":"2023-07-15 13:36:16","post_content":"\n
\n
Ripple scored a landmark victory over the regulator on Thursday.<\/li>\n\n\n\n
The prolonged legal battle is expected to shape the regulations for digital assets.<\/li>\n<\/ul>\n\n\n\n
JP Morgan viewed the court ruling for Ripple as a significant victory. However, according to the investment banking giant, the regulations by enforcement are far from over. <\/p>\n\n\n\n
On Thursday, the US Southern District Court ruled partially in favor of Ripple, the FinTech company that issues XRP. The SEC and Ripple's 2-year legal battle concluded with the ruling that cryptocurrency issuance on exchanges is not an investment contract.<\/p>\n\n\n\n
\"This ruling is undoubtedly a milestone win for the industry. It provides legal clarity and defense around what does and does not constitute a security, and that overall outcome is in favor of what many in the industry had been arguing,\"<\/em> JP Morgan wrote<\/a> in the note seen by Coindesk.<\/p>\n\n\n\n
Following the landmark ruling, the price of cryptocurrencies soared as sentiment changed in the digital asset space. The cost of XRP rose by about 70%, while Bitcoin reached its highest level in more than a year.<\/p>\n\n\n\n
SEC's Next Step<\/h2>\n\n\n\n
However, according to JPMorgan, the ruling may not be the end of what has come to be termed as regulations by enforcement by the SEC, as the regulator could appeal the case or bring similar charges against other cryptocurrency companies.<\/p>\n\n\n\n
In June, Binance, the leading crypto exchange, faced 13 charges from the SEC, one being the sale of unauthorized securities. The regulator sued Coinbase, the largest US cryptocurrency exchange, for security law violations. <\/p>\n\n\n\n
At the start of the year, the SEC brought charges<\/a> against Gemini and Genesis for allegedly violating the securities regulations related to crypto lending. In February, it\u00a0 fined crypto exchange Kraken<\/a>\u00a0$30 million and ordered the platform to cease offering staking services to US users.<\/p>\n","post_title":"Ripple-SEC Ruling \u2018A Win\u2019 For Crypto Industry But Regulatory War Not Over, JP Morgan Says","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-sec-ruling-a-win-for-crypto-industry-but-regulatory-war-not-over-jp-morgan-says","to_ping":"","pinged":"","post_modified":"2023-07-15 23:36:25","post_modified_gmt":"2023-07-15 13:36:25","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=12524","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11929,"post_author":"15","post_date":"2023-06-08 22:45:46","post_date_gmt":"2023-06-08 12:45:46","post_content":"\n
Arbitrum, a layer 2 blockchain, halts the process of transactions due to funding issues. With over $2.24 billion in deposits, the network experiences an hour-long standstill due to gas shortage. <\/p>\n\n\n\n
Developers on the Arbitrum Discord server<\/a> faced connectivity issues with the network's sequencer. The software is responsible for bundling and confirming transactions on the Ethereum network.<\/p>\n\n\n\n
According to on-chain records<\/a>, the sequencer exhausted its supply of Ether, the native cryptocurrency of Ethereum used for transaction fees<\/a>. Without sufficient Ether to cover the fees, the sequencer could not process transactions on Ethereum, resulting in Arbitrum coming to a halt.<\/p>\n\n\n\n
$\"\"$ <\/figure>\n\n\n\n
What's Next to Arbitrum?<\/h2>\n\n\n\n
Following an hour-long period of transaction processing failure, Arbitrum has resumed its operations. A wallet that had previously transferred funds to the Arbitrum multi-signature wallet sent 1.4 Ether to the sequence. This replenishment enabled the sequencer to resume sending transactions to Ethereum.<\/p>\n\n\n\n
The cause behind the depletion of gas in Arbitrum's sequencer remains uncertain. Since its launch in May 2021, the sequencer has only been manually refuelled with Ether on four occasions.<\/p>\n\n\n\n
The recent event highlights the reliance of Arbitrum on a centralized control point. Offchain Labs, the company behind Arbitrum, has expressed its plans to decentralize the network's sequencer. <\/p>\n","post_title":"Arbitrum Faces Temporary Shutdown Due To Gas Shortage","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"arbitrum-faces-temporary-shutdown-due-to-gas-shortage","to_ping":"","pinged":"","post_modified":"2023-06-08 22:45:55","post_modified_gmt":"2023-06-08 12:45:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11929","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11770,"post_author":"13","post_date":"2023-05-18 00:31:26","post_date_gmt":"2023-05-17 14:31:26","post_content":"\n
\n
Judge Analisa Torres has declined a motion by the commission to seal essential documents in the legal tussle.  <\/li>\n\n\n\n
The price of the native XRP token has surged following the ruling.<\/li>\n<\/ul>\n\n\n\n
A US judge presiding over the case between Ripple and the Securities and Exchange Commission (SEC) has rejected a motion filed by the regulator to seal some of the essential documents.<\/p>\n\n\n\n
Judge Analisa Torres of the US District Court has disagreed<\/a> with SEC\u2019s move to seal Hinman\u2019s Speech documents, comprising emails, text messages, and expert reports, saying they were \u2018judicial documents\u2019 subject to a strong presumption of public access.<\/p>\n\n\n\n
As a recap, the SEC is suing<\/a> Ripple for selling unregistered securities. At the centre of the legal matter is a controversial speech by the former finance division director at the commission, William Hinman, who stated that Ether, the native cryptocurrency to the Ethereum blockchain, was not a security. The statement is believed to influence the much-awaited summary judgment considerably.<\/p>\n\n\n\n
The SEC\u2019s Position On The Matter<\/h2>\n\n\n\n
On December 22, the SEC filed a motion before Judge Torres to have all the documents containing Hinman\u2019s speech sealed from the public, saying they were irrelevant to the court\u2019s summary judgment. Further, the commission added that having the documents sealed preserved \u2018openness and candour\u2019, which the court has also rejected.<\/p>\n\n\n\n
\u2018\u2018Regardless of whether the court ultimately determines that the Hinman Speech Documents are admissible, or whether the court relies on the documents in ruling on the summary judgment motions, they are judicial documents subject to a strong presumption of public access because they are \u2018relevant to the performance of the judicial function and useful in the judicial process,'\" <\/em>read the ruling.<\/p>\n\n\n\n
XRP has added more than 5% in the past 24 hours following the development and was trading at $0.4487 at the time of writing. <\/p>\n","post_title":"Ripple Scores Major Victory In Case With The SEC As Court Denies Motion Filed By The Regulator","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ripple-scores-major-victory-in-case-with-the-sec-as-court-denies-motion-filed-by-the-regulator","to_ping":"","pinged":"","post_modified":"2023-05-18 00:31:29","post_modified_gmt":"2023-05-17 14:31:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11770","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11728,"post_author":"12","post_date":"2023-05-15 16:06:43","post_date_gmt":"2023-05-15 06:06:43","post_content":"\n
A recent report<\/a> from Financial Times found that Worldcoin, a cryptocurrency project launched by OpenAI CEO Sam Altman, is close to securing $100M in funding. Those already backing the project include; a16z, Digital Currency Group and Coinbase Ventures; the new round of funding includes \u201cexisting and new investors.\u201d<\/em><\/p>\n\n\n\n
The project<\/a> was founded in 2020 by Sam Altman, Alex Blania, and Max Novendstern. With over 1,697,000 sign ups already, Worldcoin aims to build \"the world\u2019s largest identity and financial network as a public utility, giving ownership to everyone, [and] to create universal access to the global economy regardless of country or background, accelerating the transition to an economic future that welcomes and benefits every person on the planet.<\/em><\/p>\n\n\n\n
In March 2022, The Information\u00a0reported<\/a>\u00a0that the firm was looking to raise $100M\u00a0from investors through a private token sale, citing two people familiar with the situation. These sources stated that \u201cit\u2019s a bear market, a crypto winter. It\u2019s remarkable for a project in this space to get this amount of investment.\u201d<\/em><\/p>\n\n\n\n
Worldcoin Verification, Adoption, And Account Abstraction<\/h2>\n\n\n\nWorldcoin launched a gas-free crypto wallet in early May of 2023 called World App. This wallet relies on a system called World ID which uses zero-knowledge proofs to verify that you're a real human with either a phone number or iris scan. The gasless transactions rely upon account abstraction<\/a>, a popular protocol on Ethereum, under ERC-4337<\/a>.<\/p>\n\n\n\n
World App is also integrated with Uniswap, so users can swap currencies in the wallet.<\/p>\n\n\n\n
Worldcoin has been in its beta for some time now; within \"the next six weeks\" the blockchain protocol is expected to launch and with that, transactions will begin being recorded.<\/p>\n","post_title":"OpenAI's Sam Altman To Secure $100M For Worldcoin; Will Start Recording Transactions In 6 Weeks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openais-sam-altman-to-secure-100m-for-worldcoin-will-start-recording-transactions-in-6-weeks","to_ping":"","pinged":"","post_modified":"2023-05-15 16:06:46","post_modified_gmt":"2023-05-15 06:06:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11728","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11677,"post_author":"15","post_date":"2023-05-13 00:36:12","post_date_gmt":"2023-05-12 14:36:12","post_content":"\n
In the last 24 hours, $46.37 million worth of $PEPE has been deposited into exchanges. The meme coin has net deposits from 1,176 addresses amounting to $22.94 million. $PEPE has seen a significant drop of 31% in value, shrinking its market value to around $500 million, as reported <\/a>by ScopeProtocol.<\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/ScopeProtocol\/status\/1656916635134066688?s=20\n<\/div><\/figure>\n\n\n\n
$PEPE is a meme coin that has gained significant popularity in cryptocurrency. It has captured the attention of crypto enthusiasts and investors due to its unique and humorous nature.<\/p>\n\n\n\n
Despite its playful image, $PEPE has also experienced fluctuations in its market price. This volatility is characteristic of many memecoins, as trends, speculation, and the overall sentiment of the market can influence their prices.<\/p>\n\n\n\n
More On Memecoins<\/h2>\n\n\n\n
On May 11, 2023, @lookonchain<\/a>, a prominent cryptocurrency analyst, tweeted<\/a> about $PEPE and $LADYs (another meme coin). In his tweet, he praised how a cryptocurrency trader made huge profits trading meme coins. The trader bought $PEPE on Apr 18 and $LADYS before Elon Musk tweeted. In summary, his investment gained 36x on $PEPE and 35x on $LADYS. <\/p>\n\n\n\n
The meme coin phenomenon has emerged as a culture in the cryptocurrency space. We can notably refer to prominent meme coins like Dogecoin ($DOGE) and Shiba Inu ($SHIB). At the time of writing, these two cryptocurrencies ranked number 8 and number 15, respectively, according to Coinmarketcap. $DOGE and $SHIB have paved the way for other meme coins to gain traction in the crypto market.<\/p>\n","post_title":"Massive $PEPE Deposits Shake Crypto Exchanges; Market Value Plunges","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"massive-pepe-deposits-shake-crypto-exchanges-market-value-plunges","to_ping":"","pinged":"","post_modified":"2023-05-13 00:36:16","post_modified_gmt":"2023-05-12 14:36:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11677","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11401,"post_author":"13","post_date":"2023-05-02 11:29:00","post_date_gmt":"2023-05-02 01:29:00","post_content":"\n
\n
SUI farming will open for two days on BNB and TUSD pools beginning May 1.<\/li>\n\n\n\n
The token is expected to list afterward on Binance against BTC, USDT, TUSD, and BNB.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Binance has unveiled its 33rd project on Binance Luanchpoool, Sui, that allows users to farm SUI tokens using staked BNB and TrueUSD (TUSD).<\/p>\n\n\n\n
According to the announcement<\/a> on April 30, the farming of SUI tokens would run for 2 days beginning May 1. After that, the asset would be listed on Binance under trading pairs SUI\/BTC, SUI\/USDT, SUITUSD, and SUI\/BNB, subject to the relevant liquidity requirements.<\/p>\n\n\n\n
40 million SUI tokens are set for launchpool token rewards, 0.4% of the total token supply of 10 billion. So far, more than 9 million BNB tokens have been staked on the BNB pool, while the TUSD pool has more than 450 million staked TUSD.<\/p>\n\n\n\n
DPoS Layer-1 Blockchain<\/h2>\n\n\n\n
Sui<\/a> operates as a delegated proof of stake (DPoS) layer-1 blockchain<\/a> written on the Move programming language. The project has since raised $300 million in a series B funding round backed by Binance Labs and Coinbase - bringing its valuation to $2 billion.<\/p>\n\n\n\n
The project, hyped by its community of supporters as the \u2018Ethereum Killer\u2019<\/em>, uses a unique technology involving a parallel data model and execution engine to enhance transaction scaling. Besides, the blockchain employs an object-centric model for processing parallel transactions.<\/p>\n\n\n\n
The unveiling has pumped the price of Binance\u2019s native BNB token upwards despite a bearish market momentum. At press time, the token was changing hands for $333, representing a jump of 3% in the past day.<\/p>\n","post_title":"Binance Launches SUI Farming With Staked BNB And TrueUSD","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-launches-sui-farming-with-staked-bnb-and-trueusd","to_ping":"","pinged":"","post_modified":"2023-05-04 13:03:20","post_modified_gmt":"2023-05-04 03:03:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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