DeFi

Unknown Wallet Address Accumulates Massive Amounts of Wrapped Bitcoin Amid Ownership Controversy

Tuesday. August 20 at 10:30 PM

1 min. read

An unidentified wallet address has been gathering large quantities of Wrapped Bitcoin amidst an ongoing dispute over the token's ownership structure. According to blockchain analytics service Lookonchain, on Aug. 19, an unknown whale address acquired 347 Wrapped Bitcoin (WBTC) valued at $16 million just hours before. This adds to the wallet's growing WBTC holdings, now totaling 1,953 WBTC worth approximately $118 million at an average price of $58,853. The significant WBTC acquisitions coincide with the controversy surrounding the ownership of the Wrapped Bitcoin token. BitGo, the team behind WBTC, recently announced plans to transfer control to a joint venture involving itself, BiT Global, and Justin Sun's Tron. MakerDAO also took action by closing new WBTC debts and preventing further borrowing against WBTC collateral. Additionally, Aave is considering introducing an alternative wrapped Bitcoin token, TBTC, in response to these developments. Coinbase is also hinting at launching a similar product, potentially named 'cbBTC,' which could enhance Bitcoin DeFi adoption according to industry experts.

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SushiSwap CEO Unveils Ambitious 2025 Plan

Tuesday. December 10 at 5:00 AM

SushiSwap's CEO, Jared Grey, has revealed an ambitious roadmap for 2025. The plan includes launching new innovative products like Wara, Susa, Kubo, and Blade. Wara, a trading platform on Solana, aims to expand beyond Ethereum. Susa, a perpetual DEX, offers efficient trading. Kubo introduces delta-neutral strategies for new markets. Blade, an LVR AMM solution, ensures fair trading. SushiSwap's governance overhaul in April 2024 led to the creation of Sushi Labs and Sushi DAO. The platform's move to Solana signifies its growth strategy. Grey's announcement has boosted market excitement, with SUSHI price rising to $2.80. Currently trading at $2.23, SUSHI's volume has surged by 60.13%. SushiSwap's roadmap reflects its goal to become a top DeFi platform in 2025, despite SUSHI's price being below its ATH.

DeFi

Revolutionizing DeFi with Nebula Stride

Tuesday. December 10 at 3:00 AM

The pre-sale of Nebula Stride (NST) has commenced in Dnipro, Ukraine, on December 9th, 2024. This initiative offers novel asset management tools and interactions with decentralized financial systems. NST tokens are up for grabs at an initial price of $0.02. Nebula Stride positions itself as a blockchain project dedicated to enhancing the DeFi ecosystem by boosting accessibility and decentralization in financial markets through advanced smart contracts and financial tools. In a burgeoning DeFi landscape, Nebula Stride aims to stand out by addressing inefficiencies in traditional finance. The project's presale phase offers NST tokens at $0.02, with plans for public trading post-presale. Nebula Stride's tokenomics model prioritizes network participants' support and long-term ecosystem sustainability. The project's key strengths lie in its commitment to security, decentralization, and strategic growth, backed by independent audits and meticulous planning. Nebula Stride, with its focus on smart contract technology, strives to bridge gaps in traditional finance and empower a global user base.

DeFi

Radiant Capital Hack Linked to DPRK Actor

Tuesday. December 10 at 1:00 AM

Radiant Capital alleges that hackers from North Korea orchestrated a $50 million hack on their DeFi protocol. The cybersecurity firm Mandiant identified a DPRK-nexus threat actor behind the attack. The hackers disguised themselves as a trusted former contractor to distribute malware through a fake project file. The malware created a macOS backdoor and communicated with a seemingly harmless domain. Despite following security protocols, the hackers bypassed Tenderly's measures and compromised multiple developer devices. The malicious transactions went undetected due to the seamless deception. Radiant Capital's loss highlights the sophistication of the attack and the need for heightened cybersecurity measures in the DeFi space. The incident serves as a cautionary tale for organizations to remain vigilant against evolving cyber threats.

DeFi

Cardano's Constitution Approved at Global Convention

Sunday. December 8 at 9:00 PM

Cardano achieved a significant milestone as its Constitution was approved during a global convention in Argentina and Kenya on December 5-6. The event gathered developers, investors, researchers, ADA stakers, and delegators to shape the blockchain network's governance and future. At the Cardano Constitutional Conference, 95% of delegates approved the Constitution, guiding governance, scaling, and technological advancements. Founder Charles Hoskinson emphasized the importance of the Constitution in empowering the community for network evolution. The document includes provisions for growth, decision-making, and Treasury management. It also addresses complexities like Treasury policies and creating a legal entity to counter bad actors. The approved Constitution will move on-chain for review by decentralized representatives next month. Cardano has seen notable growth, surpassing 100 million transactions and experiencing a surge in its DeFi ecosystem and ADA token value.

DeFi