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62% of Robinhood’s Q2 crypto revenue was from Dogecoin trading

Popular retail trading app, Robinhood, has revealed crypto trading surged in popularity on the platform and now represents 41% of its revenue. According to its second-quarter financial results published Aug. 18, the firm generated $233 million from crypto trading services for the quarter, up from $5 million for the entirety of 2020. More than 60% of funded Robinhood accounts traded digital assets during Q2 2021. With early 2021 witnessing the speculative dog-token trading frenzy, a whopping 62% of Robinhood’s crypto revenue was derived from Dogecoin trades.

2021-09-03 23:57:48

Coinbase amasses a $4B war chest so it can outlast ‘crypto winter’

Coinbase, the largest American cryptocurrency exchange, has stockpiled a war chest worth about $4 billion in cash in preparation for decreased crypto retail trading volumes and higher operating costs brought on by regulatory hurdles. It reportedly expects to use the cash to cover costs incurred by a variety of factors, including conforming to new regulations handed down by the United States legislature. Coinbase CFO, Alesia Haas, told the Wall Street Journal that no one single danger to the exchange or the industry had compelled the exchange to build its cash reserves, but that it was best to be prepared for the worst while times are good. The company has conducted stress tests to ensure it can meet the costs of compliance, cyber attacks or possible trading declines.

2021-09-03 23:57:47

Ethereum network's hashrate is 606,488.28 GH/s，mining difficulty is 8,043.07T

According to data from eth.btc.com，ethereum network's hashrate is606,488.28 GH/s，mining difficulty is8,043.07T. ETH's price ：$ 3,227.29 Avg Gas Price：21.20Gwei Pending Txs ：153156

2021-09-03 23:57:46

Australia and Singapore conclude digital verification blockchain pilot

The Australian Border Force (ABF), Infocomm Media Development Authority of Singapore (IMDA) and Singapore Customs, along with other industry representations, have concluded a blockchain trial project analyzing the status of the countries’ digital verification systems in issuing and verifying trade documents. The collaborative venture was a part of the Australia–Singapore Digital Economy Agreement — an initiative designed to increase the efficiency of trade between the two countries, as well as to minimize economic friction in cross-border payments. The interoperability of the two digital verification systems — the ABF’s Intergovernmental Ledger and IMDA’s TradeTrust reference implementation — was analyzed to understand the possibility of creating “high integrity digital trade documents that can be instantly authenticated, provenance traced, and digitally processed.”

2021-09-03 23:57:46

Binance crypto exchange outage sparks outrage as traders lose millions

Outages in crypto exchanges have resulted in losses for investors trying to get out in time. While Binance has been proactive in neutralizing such situations, numerous investors are reportedly seeking damages due to the exchange’s inoperability. Speaking to CNBC, a Binance spokesperson highlighted the company’s policy that promises to compensate actual trading losses due to system or internal issues, but noted: In some cases, when investors reached out for compensation in relation to the said outage, Binance’s customer service team reportedly offered a low rebate while refusing to comment on “pending legal matters.”

2021-09-03 23:57:45

Coinbase creates support phone line for account takeovers

Coinbase has announced a new support phone line for customers who believe their account has been compromised by outside actors. Users will be able to speak to a live support agent, who can kick off an investigation immediately. In an industry where support tickets and emails are the standard method of communication, Coinbase expects that this implementation could help users save valuable time when dealing with this type of crisis. Coinbase also offers its customers additional layers of protection that include two-factor authentication, unknown device recognition and advanced hardware security keys. Account takeovers, or ATOs, involve a malicious actor gaining access and control over a user’s account. They are treated as a form of identity theft, where hackers simulate the credentials of the account holder in order to restore their password and login. Most times, these credentials are a result of previous information leaks or other types of scams such as phishing attacks or keyloggers.

2021-09-03 23:57:44

Polygon will create a decentralized autonomous organization

Ethereum scalability infrastructure developer Polygon said it will form a decentralized autonomous organization, or DAO, for all of its community members, as well as projects in decentralized finance, or DeFi. In a Thursday announcement, Polygon called on its members to express their views on the platform forming a DAO. According to Polygon, it plans to create committees to promote discussion between projects including QuickSwap, Sushi Aave and others to “bring DeFi to the next million users.” “As the Polygon ecosystem grows, the committee members have a front-seat opportunity over others to increase cross-collaboration for their products,” said the project. “Voting for elections of new members could be implemented in multiple ways like by using staked MATIC on PoS or via the DAO tokenholders.”

2021-09-03 23:57:44

Canadian regulator alleges OKEx operator violated securities law

The Ontario Securities Commission claimed Aux Cayes FinTech Company Limited, a legal entity in the Republic of Seychelles that operates crypto exchange OKEx, has failed to comply with the province’s law governing securities. In Wednesday's notice, the Ontario Securities Commission, or OSC, alleged that Aux Cayes may have engaged in illegal activity and could face regulatory action if it fails to cooperate with authorities. According to the OSC, the crypto asset products offered through OKEx are considered securities and derivatives, and subject to the Ontario securities law. The regulator claims Aux Cayes has failed to comply with the region’s registration and prospectus requirements. The OSC issued a warning to all crypto-asset trading platforms operating in the province in March that they must be in compliance with the securities law by April 19 or face regulatory action. Though the regulator’s enforcement team said Aux Cayes did respond to limited inquiries in June, the platform failed to provide “basic information about its Ontario clients,” including the number of accounts and aggregate holdings.

2021-09-03 23:57:43

Bison Trails launches Binance Smart Chain support

Bison Trails, an enterprise infrastructure provider for the blockchain and cryptocurrency industry, has extended support to developers of Binance Smart Chain — a move the company says will contribute to the health and security of the rapidly growing DeFi sector. Through Bison Trails, developers on Binance Smart Chain, also known as BSC, will have access to validor node infrastructure, which allows them to run nodes and contribute to the security of the network. Specifically, Bison Trails is providing BSC with Query & Transact infrastructure, which allows developers to build applications more easily. The partnership with BSC centers around the growth of DeFi and the Chain’s strategic decision to make decentralized finance more affordable through higher gas block limits and accelerated block times. Since launching almost one year ago, BSC has attracted over 180 projects to the platform. BSC daily transactions reached a record high of over 13.1 million on July 29 but have since fallen sharply, according to industry data.

2021-09-03 23:57:43

Kusama network set to launch its next five parachain auctions

Kusama is a platform that acts as a test environment, or a so-called “canary network,” for developers to experiment and determine the efficiency of their blockchain code and applications prior to their official release on the Polkadot network. Due to the trial-and-error nature of Kusama, developers can benefit from a less stringent governance framework, as well as lower staking requirements than they would experience on Polkadot. Following the debut success of its parachain auctions back in June of this year, the Kusama Council is set to approach a further five auctions scheduled for the coming weeks.

2021-09-03 23:57:41

Galaxy Digital partners with Bloomberg for DeFi index

Financial news site Bloomberg and Galaxy Digital Management have expanded their crypto offering to track the performance of the decentralized finance (DeFi) space. In a Thursday announcement, Bloomberg said it would launch an index currently tracking nine different decentralized finance projects with Galaxy Digital. As of Aug. 1, these projects included Uniswap (UNI), Aave (AAVE), Maker (MKR), Compound (COMP), Yearn.Finance (YFI), Synthetic (SNX), SushiSwap (SUSHI), 0x (ZXR) and Uma (UMA). "Decentralized finance is growing as the next major investment theme within crypto," said Alan Campbell, Bloomberg's multi-asset index business' head of product management. "As liquidity and institutional custody solutions continue to grow, DeFi has become an increasingly compelling option for institutional investors.”

2021-09-03 23:57:40

Crypto-friendly CFTC Commissioner Brian Quintenz reportedly plans to step down

Brian Quintenz, who has served as one of the commissioners with the Commodity Futures Trading Commission, or CFTC, reportedly plans to leave the agency on Aug. 31. According to a Thursday report from the Wall Street Journal, Quintenz is expected to announce his move into the private sector after leaving the CFTC later this month. He hinted that his future career could include a focus on “innovation, particularly related to cryptocurrency and DeFi” and planned to continue advocating for the crypto space. Quintenz was first nominated to the position by President Barack Obama in March 2016 before being re-nominated by Trump in May 2017 and confirmed that August. His term at the CFTC was scheduled to end in April 2020, but he announced, at that time, that he would stay “until the earlier of the confirmation of my successor or October 31, 2020,” later extending this to “until the Senate acts on a confirmation.”

2021-09-03 23:57:39

Crypto.com partners with Italian football’s Lega Serie A

Digital asset exchange platform Crypto.com will be prominently featured in football matches during Italy’s Lega Serie A competition as part of a partnership with the league. In a Thursday announcement, Lega Serie A said Crypto.com was going to be presenting key broadcast moments for the Italian football competition “where technology enhances the match.” Specifically, the platform has formed a multi-year partnership to help present the series’ “goal of the month,” as well as broadcast moments using video playback to judge fouls and whether goals are legitimate. Crypto.com sponsored Lega Serie A in the Coppa Italia football cup in May, when it launched a nonfungible token, or NFT, offering for the event. The exchange said it planned to release more collections of NFTs as a result of the new partnership.

2021-09-03 23:57:38

Former SEC Chair Jay Clayton joins Fireblocks advisory board

Jay Clayton, the former chair of the United States Securities and Exchange Commission, has accepted an advisory role with blockchain infrastructure provider Fireblocks — marking a significant addition to a company that only recently achieved unicorn status. In joining Fireblocks’ advisory board, Clayton acknowledged that he shares the company’s view that “digital asset custody requires the same level of service as traditional custody while also striving for better regulatory outcomes.” Michael Shaulov, CEO and co-founder of Fireblocks, said Clayton will “help to advance further the safety and security of the Fireblocks infrastructure for capital market participants and investors.”

2021-09-03 23:57:38

Ethereum network's hashrate is 598,550.14 GH/s，mining difficulty is 7,918.35T

According to data from eth.btc.com，ethereum network's hashrate is598,550.14 GH/s，mining difficulty is7,918.35T. ETH's price ：$ 3,258.69 Avg Gas Price：22.70Gwei Pending Txs ：153927

2021-09-03 23:57:35

Nifty News: Mike Tyson’s ear-biting tokens, the NFT that makes you a TV star, and more…

Boxing legend Mike Tyson has dropped a series of tokenized collectibles on the heavyweight champion platform of the nonfungible token (NFT) world, OpenSea. The 55-year-old collaborated with digital artist Cory Van Lew to launch the “Mike Tyson NFT Collection,” which consists of 11 one-of-one NFTs up for auction and six open-edition NFTs that range from 50 to 250 copies. The collection was released earlier on Friday. The NFTs depict neon-colored illustrations of iconic moments from Tyson’s career, such as knockouts, championship wins and the notorious “ear-biting” escapade.

2021-09-03 23:57:35