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GMX, the decentralized exchange (DEX), made headlines in 2022 when it awarded Collider Research a substantial $1 million bug bounty. This generous payout was a testament to the critical bug Collider Research uncovered in GMX’s smart contracts. The bug directly and adversely impacted how the protocol tracked outstanding debt within the system. However, GMX has been tight-lipped about how this bug was rectified and when the patch was implemented. The bug had significant repercussions, particularly for GMX v1 liquidity providers (LPs). It disrupted the accurate calculation of quotes related to the “fair value of tokens.” More specifically, it wreaked havoc on the Global Liquidity Pool (GLP), causing it to deviate from its intended fair value. Understanding the gravity of this situation requires a glimpse into GMX ’s inner workings. The exchange supports leveraged trading with up to 50X leverage. The system meticulously tracks the debt incurred by traders and the repayment process, all d

PayPal’s groundbreaking initiative for handling nonfungible tokens (NFTs) transcends conventional boundaries. By recently filing a patent application in March, later published on September 21, PayPal has demonstrated a significant stride towards constructing its independent blockchain ecosystem. This revolutionary system is engineered to facilitate NFT transactions, both on-chain and off-chain, heralding a new era of digital asset exchange. The patent application , although still awaiting approval, outlines a visionary system wherein users engage in NFT transactions via a third-party service provider. While the specific provider remains undisclosed, the application makes mention of Ethereum as a noteworthy platform within its framework. PayPal ’s vision extends beyond the mere exchange of electronic collectibles, aiming to harness the full potential of NFT s for tokenization. In this groundbreaking vision, NFT s represent a diverse range of digital asset s, encompassing digital im

Shiba Inu (SHIB) has turned many early investors into millionaires, and in some cases, even billionaires. Between its launch in August 2020 and reaching its all-time high in October 2021, SHIB grew by a whopping 8862274%. In that period, many lucky investors were able to book massive profits. However, many only joined the SHIB bandwagon after it reached its all-time high. If an investor put in $100 every week since Shiba Inu’s (SHIB) all-time high, they would have invested $10,200. However, SHIB has been on a downward trajectory since its 2021 highs. According to CryptoDCA, the same $10k investment would be worth only about $6,235 today. This represented a loss of 38.87% and a value drop of about $3,964. Also Read: Dogecoin: If You Put $100 Every Week Since 2013, Here’s Your Gain Source: CryptoDCA However, if an investor had put $100 every week into SHIB since its launch, they would have invested about $16,100. However, the investment would have been worth more than $170 mil

SBI Holdings will work with UAE firm TradeFinex on a Japanese joint venture aimed at boosting adoption of its enterprise blockchain platform running on the XDC Network. SBI Holding and TradeFinex will look to drive trade finance adoption of EVM-compatible enterprise blockchain XDC Network through a new joint venture in Japan. UAE-based firm TradeFinex operates its own decentralized platform operating on the XDC Network for trade finance originators to connect to a variety of banks and lending institutions. Aimed at enterprise use cases, TradeFinex is primarily focused on providing blockchain-based trade finance products including invoicing, letters of credit, purchase order finance and supply chain finance. A visual representation of TradeFinex's trade finance stack. Source: TradeFinex. The XDC Network is an EVM-compatible layer 1 network that Features interoperable smart contracts. Its documentation describes the protocol as a “highly optimized, bespoke fork” of Ethereum that

ICBLA presented John E. Deaton with the Defender of Freedom Award. Deaton acknowledges every XRP defendant to be rightful to receive the award. The lawyer narrated his journey from filing a motion to intervene to receive the award. Prominent XRP defendant John E. Deaton shared a Twitter thread on September 29, sharing his gratitude for the Defender of Freedom Award presented by the International Congress of Blockchain Legal Advisors (ICBLA). The lawyer acknowledged all the XRP defendants who grew from 12,600 to 75,000, honoring each of them as a champion. In a series of tweets, Deaton clearly portrayed the XRP community’s journey from filing a motion to intervene to standing at a landmark victory. When in 2020, the Securities and Exchange Commission (SEC) sued Ripple for alleged trade of unregistered securities, thereby violating the securities laws, individuals filed a Motion to Intervene, defending XRP and fighting against the SEC’s injustice. The fact

A widely followed crypto analyst is updating his outlook on Bitcoin (BTC) while looking ahead for Chainlink (LINK). Pseudonymous crypto trader Rekt Capital tells his 354,500 followers on the social media platform X that he’s looking for BTC to form a lower high in the coming weeks. “BTC  At this same point in the cycle in 2019, BTC formed a Lower High If BTC forms a Lower High in the coming weeks, that would be further confirmation for a potential Higher Low revisit later in this cycle.” Source: Rekt Capital/X According to the analyst, BTC is currently sitting on the bull market support band. “BTC is right back at the Bull Market Support Band cluster of moving averages, challenging to breakout beyond them.” Source: Rekt Capital/X The analyst also shares a chart that he calls an “update” on the bearish Bitcoin fractal that is potentially forming. “BTC  Bearish Bitcoin Fractal update.” Source: Rekt Capital/X BTC is worth $26,409 at time of writing, down 2

In anticipation of the looming U.S. government shutdown , the U.S. Securities and Exchange Commission ( SEC ) is purportedly hastening the debut of Exchange-Traded Funds ( ETF ). According to insights from Bloomberg analysts, should the trajectory remain unchanged, we could witness the launch of the Valkyrie Bitcoin and Ether ETF as early as next week. Previously, Eric Balchunas and James Seyffart of Bloomberg had projected a robust 90% probability for the Ethereum Futures ETFs to roll out in October 2023. Moreover, they anticipate that the Valkyrie Bitcoin futures ETF ($BTF) will pioneer Ethereum exposure, likely on October 3, 2023. Furthermore, CoinGape had relayed that Valkyrie delineated a Form 497, outlining intentions to metamorphose BTF into a dual Bitcoin and Ether Exchange-Traded Fund. However, recent statements by analyst Balchunas suggest an intriguing twist. Given the potential government shutdown, the SEC appears keen on expediting the Ethereum futures ETFs launch. Thi

Ibiza’s vibrant nightlife is preparing for a new era of clubbing driven by the transformative power of blockchain technology. While it may seem counterintuitive initially, the crypto market has much to offer to night clubs and festivals. The symbiosis between these two ecosystems is already unfolding in Ibiza — a Spanish island known for its night life and electronic music events in the summer. Ibiza’s journey to Web3 Ibiza aims to become a crypto island by embracing the Web3 trend. It aims to connect local artists, nightclubs and festival operators with a global audience and educate the community on the benefits of blockchain. Local nightclubs and venues are looking to leverage blockchain to create unique experiences. Ibiza has already recorded several NFT milestones in its history, starting with the Amnesia Ibiza NFT Medallions in 2021, which will give lifetime VIP access to the Amnesia club, followed shortly by DJenerates Klub, the first NFT collection immortalizing the iconic fi

How to Change the Bitcoin Address on the Cash App: A Guide In recent years, Bitcoin has become increasingly popular as a digital currency, and Cash App has emerged as a convenient platform for buying, selling, and storing crypto currencies. If you’re new to Cash App or unsure how to change your Bitcoin wallet address, this comprehensive guide will walk you through the process step-by-step. Whether you want to complete Bitcoin wallet verification, obtain a new Cash App Bitcoin wallet address, or even change your existing address, we’ll cover all the essential information you need. Also read: What Bank Does the Cash App Use? Source: Best Market Understanding Bitcoin Wallet Addresses Before we dive into changing your Bitcoin wallet address on the Cash App, let’s first understand what a wallet address is. A Bitcoin wallet address is a unique identifier that allows you to send and receive Bitcoin securely. It consists of a combination of letters and numbers and serves as yo

Michael Egorov, the co- founder of Curve Finance, has completely settled his debt on Aave after depositing 68 million CRV, equivalent to approximately $35 million, to Silo. Egorov withdrew 10.7 million of crvUSD, Curve’s decentralized stablecoin, from the non-custodial lending protocol following his CRV deposit, according to on-chain analytics provider, Lookonchain. After that, he swapped them for USDT before repaying his debt on Aave, a decentralized lending and borrowing protocol on Ethereum.  You might also like: Curve Finance exploit triggers massive MEV rewards Still, the Curve founder still owed approximately $42 million to four defi lenders , including Silo, Fraxlend, Inverse, and Cream Finance, collateralized by 253.7 million CRV valued at $132 million. Michael Egorov deposited 68M $CRV ($35.5M) to #Silo and borrowed 10.77M $crvUSD in the past 2 days. Then swapped $crvUSD for $USDT and repaid the all debt on #Aave. He currently has 253.67M $CRV($132.52M) in coll

The financial details of the deal remain undisclosed, however as a full exit from Russia, Binance will have no ongoing revenue split, nor any option to buy back shares, the companies said. Cryptocurrency exchange Binance has announced its full exit from Russia by selling its firm to the cryptocurrency exchange platform known as CommEX. Binance has entered into an agreement to sell the entirety of its Russia business to CommEX, the firm said in an announcement to Cointelegraph on Sept. 27. To ensure a smooth process for existing Russian users, the off-boarding process will take up to one year, the announcement reads. “All assets of existing Russian users are safe and securely protected,” Binance noted. “As we look toward the future, we recognise that operating in Russia is not compatible with Binance's compliance strategy,” Binance’s chief compliance officer Noah Perlman said, adding: “We remain confident in the long-term growth of the web3 industry around the world and will focus

Stafi (FIS) price is up 3% in the past 24 hours and 13% this past week. The Staking Finance governance token has seen a spike in whale transactions of $100k+, on-chain data shows. Interest is seeing FIS outperform major altcoins. Stafi (FIS), the governance token of the StaFi protocol, has seen a decent spike in the past 24 hours to bring total gains in the past week to more than 13%. Currently trading at around $0.29, FIS has outperformed the major cryptocurrencies as they continue to struggle for volatility. All top altcoins by market cap are 2%-5% down in the past seven days, with Bitcoin (BTC) perched above $26k but down 4% in the outlined period. Ethereum, which came under renewed downward pressure following news of Vitalik Buterin’s latest ETH transaction, remains below $1,600 with -3.8% in the past week. Why is the price of Stafi (FIS) up today? As noted, FIS is a governance token for the Staking Finance, a DeFi protocol that offers access to liqu

Taiwan’s regulator, the Financial Supervisory Commission (FSC) has announced new guidelines for virtual asset service providers (VASPs). The agency published the VASP guidelines on Tuesday, which includes exchange registration, segregation of customer funds and prohibition of certain products. Taiwan’s financial regulator, the Financial Supervisory Commission, has released new guidelines aimed at streamlining the crypto exchange space in the country. Specifically, the watchdog has outlined guidelines for virtual asset services providers (VASPs) as it looks to bolster its crypto regulation. The new guidelines were highlighted in a new report the FSC published Tuesday, September 26, 2023. Wu Blockchain shared news of the development via X, including a link to the Financial Supervisory Commission’s publication. Taiwan has officially released guidelines for crypto currency, Derivatives, STOs, and stablecoins are prohibited; overseas companies are not allowed

Bitcoin Ordinals inventor Casey Rodarmor says a fungible token protocol like Runes wouldn’t leave as much “junk” on the Bitcoin network as that of BRC-20 tokens. The inventor of Bitcoin Ordinals is proposing a new Bitcoin-based fungible token protocol as a potential alternative to the BRC-20 token standard. The BRC-20 standard was launched in March by an anonymous developer “Domo.” Within two months, the BRC-20 market cap reached $1 billion, with PEPE and ORDI among the most notable BRC-20 tokens created on Bitcoin. New terrible idea just dropped: Runes. A worse-is-better fungible token protocol for Bitcoin.https://t.co/TPVrUvWxm8 — Casey (@rodarmor) September 25, 2023 BRC-20 enables the minting and transfer of fungible tokens via the Ordinals protocol on Bitcoin. But the issue with BRC-20 tokens is that they spam Bitcoin with “junk” Unspent Transaction Outputs or UTXOs, argued Rodarmor. BRC-20 tokens have the “undesirable consequence of UTXO proliferation,” he explained in a Sept

Owing to the volatility, crypto is generally considered to be a ‘quick’ money-making asset class. Over the years, several traders and investors have successfully cracked the code and earned millions by trading and investing in crypto. At the same time, investors have also lost their capital while taking uncalculated risks and attempting to play with fire. In this article, we will look into the case of how a manager became a millionaire within a short span of time by investing in Shiba Inu. Also Read: Shiba Inu: How Many SHIB Tokens Does Elon Musk Own? Manager ‘Cried’ After Making $1 Million by Investing in SHIB A couple of years ago, i.e., in 2021, Rob, a former supermarket warehouse manager , was looking to inflate his savings. As he was researching investment alternatives, he stumbled upon Shiba Inu’s ‘woofpaper.’ In an interview with Fortune, he asserted that he got “hooked” after reading the project’s white paper and that he “just believed the words.” He then decided t

The Chain LINK [ LINK ] network appears to be breaking away from the broader cryptocurrency market, showing signs of independent growth. During September, this asset witnessed a noteworthy 20% increase in its value. Currently, LINK is trading at $7.26, having experienced a 1.4% daily gain. It’s worth highlighting that the past two weeks have been particularly significant for this asset, as it climbed from a low of $6.53 to reach a peak of $7.30. But what triggered this rally? Numerous factors have contributed to the recent uptrend in this asset. Santiment observed that the level of LINK available on exchanges has been a significant factor. According to the on-chain analytics company, whenever LINK is transferred to exchanges, it has historically triggered positive price movements. Earlier this month, LINK’s supply on exchanges reached a peak for 2023, hitting 17.2%. Furthermore, this supply has now decreased to 16.4%, a development that is generally seen as favorable for any asse

Coinbase’s registration with the Bank of Spain marks a significant stride in its mission to provide secure and compliant crypto services to users worldwide. The registration allows Coinbase to offer our full suite of products and services to retail and institutional users in Spain. Spain is a member of the EU which recently adopted the Markets in Crypto Assets (MiCA) regulations. Coinbase, a leading cryptocurrency exchange and custodian wallet provider, on September 22 announced that it had achieved a significant milestone in its global expansion strategy by securing Anti-Money Laundering (AML) registration with the Bank of Spain. This registration enables Coinbase to offer its full range of cryptocurrency services to both retail and institutional users in Spain while complying with the country’s regulatory framework. Coinbase in Spain Users from Spain can now access a comprehensive suite of services provided by Coinbase, including the secure custody of cr

Brave, Zcash (ZEC) developer Electric Coin Company (ECC) and Filecoin Foundation have announced a partnership aimed at bringing new privacy features to Brave browser. The companies will tap into Zcash protocol’s shielded transactions and Filecoin’s InterPlanetary File System (IPFS). Brave Software Inc., Electric Coin Co. (ECC) and Filecoin Foundation announced a new partnership during Messari Mainnet on Friday, September 22. The Brave team, Zcash (ZEC) developer group and the Filecoin (FIL) non-profit said they will be collaborating in an effort that should see new privacy Features come to Web3 via the Brave browser. Zcash is one of the top privacy coins in the crypto space. According to the companies, the innovative privacy-focused features will also be available via Brave’s integrated Web3 wallet. New privacy features for Brave browser Brave offers a privacy -oriented browser that rewards users with Basic Attention Token (BAT) for accepting privacy -r