On 2023-08-23, Binance, one of the leading cryptocurrency exchanges, made an official announcement regarding the removal of specific spot trading pairs. Effective from 2023-08-25 at 03:00 (UTC), the following spot pairs will no longer be available for trading on the platform: ALCX/BUSD, FOR/BUSD, LOOM/BUSD, NMR/BUSD, PEOPLE/BUSD, PUNDIX/BUSD, SPELL/BUSD, and STORJ/BUSD.
However, Binance has clarified that users can continue to trade these assets using other available trading pairs on their platform.
In addition to the removal of these spot pairs, Binance will also discontinue the Trading Bots services for these pairs. The termination will take effect at the same time as the removal of the spot pairs, i.e., 2023-08-25 at 03:00 (UTC). Binance has strongly advised its users to either update or cancel their Trading Bots associated with these pairs to prevent any potential losses.
For any discrepancies between translated versions of this announcement and the original English version, Binance has stated that the English version will take precedence.
The Binance Team expressed gratitude to its users for their continued support.
Recent Binance Removals
SOLBUSD Perpetual Contract Adjustments (August 21, 2023): Binance Futures announced the delisting of the USDⓈ-M SOLBUSD Perpetual Contract, effective from August 28, 2023, at 09:00 (UTC). Prior to this, leverage and margin tiers were adjusted on August 21, 2023, at 12:30 (UTC).
LTCBUSD and DOGEBUSD Perpetual Contracts Adjustments (August 17, 2023): Binance Futures revealed changes to the USDⓈ-M LTCBUSD and DOGEBUSD Perpetual Contracts. All positions on these contracts were set to be closed by August 24, 2023, at 09:00 (UTC), followed by delisting. Leverage and margin tiers for both contracts were adjusted on August 17, 2023, at 12:30 (UTC).
Spot Trading Pairs Removal (August 16, 2023): Binance discontinued several spot trading pairs, effective from August 18, 2023, at 03:00 (UTC). Affected pairs included CKB/BUSD, FARM/BUSD, ORN/BUSD, and others.
Margin Pairs Delisting (August 16, 2023): Binance Margin announced the delisting of several cross margin and isolated margin pairs, including EPX/BUSD, GAL/BUSD, and GMX/BUSD, effective from August 24, 2023, at 06:00 (UTC).
AssangeDAO has won the Assange-Pak NFT with a winning bid of roughly $53 million.
Proceeds from the sale will go toward helping Julian Assange in his ongoing legal battle to fight extradition to the U.S.
Decentralized autonomous organizations supporting various social causes are increasingly gaining traction in the crypto sphere.
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AssangeDAO has won the auction for Pak’s one-of-a-kind Clock NFT with a 16,593 ETH bid. The NFT is part of a collaboration between Pak and Julian Assange, with proceeds from the sale going toward efforts to free Assange.
AssangeDAO Prevails
Another DAO has successfully coalesced around a cause.
Today, AssangeDAO placed a winning bid of 16,593 ETH on Clock, an NFT collaboration between Pak and Julian Assange. The funds will go toward Assange’s legal defense fund as well as campaigning and raising awareness for his case. AssangeDAO has been in touch with Assange’s family in relation to the case.
AssangeDAO was able to bid 16,593 ETH, worth around $53 million at today’s prices, after a successful crowdfunding campaign that launched last week. Contributors to the DAO will receive 1 million JUSTICE tokens for every ETH contributed, and those tokens will be used to govern the DAO. Holders will be able to vote on what happens to Pak’s NFT.
According to the crowdfunding platform Juicebox, AssangeDAO also has 17,422 ETH remaining.
The $53 million price tag makes Clock one of the world’s most valuable NFTs, behind Beeple’s Everydays: The First 5,000 Days, and Merge, another NFT by Pak that was sold fractionally for $91.8 million in December 2021.
Assange famously founded WikiLeaks, the non-profit website that’s been publishing leaked or classified news items since it launched in 2006. The U.S. government charged Assange for breaking the Espionage Act of 1917 after WikiLeaks leaked data provided by U.S. Army intelligence analyst turned whistleblower Chelsea Manning. After almost a decade on the run, Asssange is now attempting to take his case to the U.K. Supreme Court to avoid extradition to the U.S. He could face 175 years in prison.
WikiLeaks was among the first websites to accept Bitcoin, bringing mainstream exposure to the asset class in its early stages. It played a similar pivotal role in Bitcoin’s early history to Silk Road, the dark net marketplace that was popularly used to trade illegal drugs in exchange for Bitcoin. Silk Road’s founder, Ross Ulbricht, is currently serving a double-life plus 40 years sentence for his role at the helm of the website. In December, he also received major support from a decentralized autonomous organization after creating his own NFT collection. FreeRossDAO paid $6.2 million for the NFT collection in a bid to support his campaign set him free.
Other notable endeavors from DAOs include PleasrDAO’s acquisition of a one-of-a-kind Wu-Tang Clan album, and ConstitutionDAO’s failed mission to buy a copy of the U.S. Constitution. As DAOs continue to grow in size and scope, it seems likely that more efforts like AssangeDAO will gain traction for other social causes in the future.
Disclosure: At the time of writing, the author of this piece owned BTC, ETH, and several other cryptocurrencies.
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The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.
You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.
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Members of the Senate met to discuss “risks, regulation, and innovation” of digital assets today.
FTX CEO Sam Bankman-Fried appeared to say that the CFTC needs to provide more regularity clarity to ensure the United States holds a competitive position when it comes to crypto.
The discussion comes a day after members of Congress collectively said that stablecoin issuers should not have to become insured depository institutions.
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FTX CEO Sam Bankman-Fried advocated for the benefits of cryptocurrency markets in a Senate committee hearing on digital assets today.
FTX CEO Testifies Before Senate
Sam Bankman-Fried wants the Commodity Futures Trading Commission to help regulate the cryptocurrency market in the U.S.
The FTX CEO testified before the Senate Ag Committee as part of a discussion on “risks, regulation, and innovation” of the digital assets space today, where he urged the CFTC to provide more regulatory clarity over cryptocurrencies.
He argued that the crypto market is more favorable than traditional markets for regular participants as it gives equitable access rather than gatekeeping in favor of larger institutional players. He also remarked that while the majority of the intellectual property related to cryptocurrencies originates in the United States, 95% of the volume occurs offshore. He said that the U.S. should make efforts to “move that liquidity back onshore” and that providing “federal oversight and clarity” would be a huge benefit. He then pointed to the CFTC as a strong candidate to provide the necessary regulatory clarity.
Members of the Senate in attendance quizzed Bankman-Fried and the other speakers on how they think the U.S. should move to regulate the space, as well as the potential risks of the crypto market. Senator Stebanow, who chaired the hearing, asked Bankman-Fried how the CFTC would handle being pulled away from “traditional areas of responsibility” to regulate crypto. Bankman-Fried responded by suggesting that FTX and other key players in the industry could provide contributions to cover the cost of using additional resources. He then affirmed once again that he “would love to see the CFTC play a more active role” in overseeing regulation of the industry.
Longtime Bitcoin advocate Perianne Boring also appeared at the hearing to advocate for cryptocurrencies, describing a “cyber space race” of nations looking to stay ahead in the digital economy. On the same topic, Senator Thune noted that it appears that the U.S. is “not particularly competitive” in crypto, before asking how the U.S. could move forward to regulate the space “in a way that reflects the risks” without stifling innovation. Reiterating his comments on how the CFTC should act, Bankman-Fried said that the question of whether countries are in a competitive position to embrace crypto rests “on whether regulation is clear or unclear.” Those countries who are ahead in crypto, he said, are the ones that have established clear regulatory frameworks.
While the hearing largely focused on how the U.S. could move toward regulation and embracing crypto technology, senators also asked expressed concerns related to the environmental impact of cryptocurrency mining, and how consumers could stay protected—topics that have long been at the heart of conversations among U.S. regulators discussing crypto over recent months.
The hearing came just a day after another relatively positive development for crypto regulation in the U.S. as members of the Senate gathered to weigh the benefits and risks of stablecoins. Discussing a November report published by the President’s Working Group on Financial Markets, multiple senators argued that stablecoin issuers should not have to become regulated banks to be able to mint dollar-pegged assets.
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The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.
You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.
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Crypto Briefing has appointed Chris Williams as its new Editor-in-Chief.
Mitchell Moos will remain CEO, though there will be some other small changes to the editorial team.
The publication will continue to focus on the most important developments in the crypto space.
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Crypto Briefing’s new Editor-in-Chief shares some insights into the publication’s plans for the future.
Crypto Briefing Appoints New Editor-in-Chief
Over the few years that I’ve been following crypto, I’ve come to learn that this space has a way of playing on your perception of time. It feels like a lifetime ago that my first article was published on Crypto Briefing, yet it was only November 2020.
That was during the hangover from DeFi summer, and just ahead of what would go down as the biggest bull run in history. Our whole editorial team was just starting to get excited as it was obvious what was coming around the corner. MicroStrategy and Square had just bought Bitcoin, and people were starting to care about crypto again as lockdowns persisted.
I remember writing that 2021 would be a big year for NFTs, but I don’t think I or anyone else could have predicted how wild things would get. A JPEG sold for $69 million at Christie’s, and suddenly the world was rushing to understand them. A year and an extremely valuable set of bored-looking apes later, most people still think they’re useless because they can right click save them.
But obviously it wasn’t just NFTs. Dogecoin, Axie Infinity, EIP-1559, El Salvador, SOLUNAVAX, and more multi-million dollar hacks than any of us could count—there was never a dull moment, and we had a lot of fun getting stuck into the reeds to cover the important parts.
The whole space has got much, much bigger in a short timespan, and Crypto Briefing has also grown. We had millions of readers last year and are targeting the same in 2022.
Crypto Briefing prides itself on its crypto-native line-up—we are all active users, and we believe that this has a strong impact on our output. As we move forward, I’ll continue to oversee the editorial team, and there are some other changes in place or coming very soon.
Tim Craig, who astounded me with his immediate grasp of how to cover this fast-paced world, has taken on the role of Assistant Editor. It’s thoroughly well deserved; you should check his NFT features and newsletters if you haven’t yet.
Stefan Stankovic will also soon be moving over to SIMETRI to fulfil his ambition of becoming a full-time Research Analyst. I knew from my first call with Stefan that he was just like me; we were both early DeFi believers who had refused to waver in our conviction even as Ethereum suffered a brutal 94% bleed in 2018. We both used that time to learn (he’s also a killer writer, but you probably know that by now).
Meanwhile the rest of the editorial team—including our U.S. editor Jacob Oliver and reporters Brooks Butler and Vishal Chawla—will continue on our mission to share all of the important stories with the world, from DeFi to DAOs and everything else. Mitchell Moos will remain CEO, and we may also welcome a few new recruits soon.
We will also endeavor to highlight the hacks, bad actors, and projects we think tarnish the space. Crypto Briefing got its start exposing the scammy side of the industry, and God knows there’s still a lot of trash out there these days.
While 2021 was crazier than I ever imagined, it was likely just a taste of what we can expect to come over the next decade. Soon, multiple countries and major corporations will invest in Bitcoin, Ethereum will become the nexus of a multi-chain financial system (and it will probably be a multi-trillion dollar network), and—eventually, despite what the current mainstream perception may be—hundreds of millions of people will be collecting NFTs.
Crypto Briefing will be there to document the whole story.
Disclosure: At the time of writing, the author of this note owned ETH, a selection of NFTs, and several other fungible cryptocurrencies.
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The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.
You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.
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AssangeDAO has received $41.48 million in a bid to set Julian Assange free.
The DAO is aiming to win an online auction of an NFT collection by Pak.
The proceeds from the sale will go to Assange’s legal fund.
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AssangeDAO has raised 13,268 Ethereum ahead of Pak’s NFT auction dedicated to Julian Assange.
DAO Raises $41M for Julian Assange
AssangeDAO has received over $41 million worth of Ethereum to help free WikiLeaks founder Julian Assange.
Through a still-running raise that launched on Feb. 4, AssangeDAO has received 13,268 Ethereum worth around $41.48 million through a crowdfunding platform calledJuiceBox.
The aim of the crowdfund is to bid in an online auction for an NFT collection called Censored, which was created by Pak in partnership with Assange. The proceeds from the sale will go to Assange’s legal fund and increasing public awareness on his case. Contributors to the DAO will receive governance tokens with the ticker symbol JUSTICE, which will be used to vote on key decisions affecting the DAO.
Launched in December 2021, AssangeDAO describes itself as a “collective of cypherpunks fighting for the liberation of Julian Assange.” DAOs typically form on Ethereum and are quickly gaining popularity as a way of coordinating groups in a decentralized manner via the blockchain. AssangeDAO is the latest DAO that’s gained significant traction in support of a specific cause, following other similar ventures like ConstitutionDAO and FreeRossDAO. In this case, the DAO is hoping to raise funds in a bid to free Assange.
An Australian-born activist and the founder of WikiLeaks, Assange gained notoriety after his publication reported on alleged acts of corruption within the U.S. government, sharing classified records and anonymous sources.
Assange and his work at WikiLeaks came to the public spotlight after a series of highly-controversial exposes involving the U.S. military were released in 2010. WikiLeaks was also among the first websites to accept Bitcoin and helped bring mainstream exposure to the asset early into its lifetime.
The U.S. government launched a criminal investigation into Assange and charged him with violating the Espionage Act of 1917 by leaking classified information. Assange famously went on the run, avoiding extradition to Sweden before taking refuge at the Embassy of Ecuador in London in 2012. Assange’s asylum was withdrawn in 2019 and he was arrested for breaching the Bail Act. He’s currently imprisoned in London fighting extradition to the U.S.
Disclosure: At the time of writing, the author of this piece owns ETH.
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The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.
You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.
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Ethereum Name Service’s Brantly Millegan faced calls to step down Community Steward position after a controversial tweet from 2016 resurfaced on Twitter.
Millegan stood by his comments, citing his religious beliefs.
The ENS community voted to remove Millegan as a Community Steward, while True Names Limited, the nonprofit organization that funds Ethereum Name Service, fired him as Director of Operations today.
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Brantly Millegan has been ousted from all leadership roles at Ethereum Name Service, a decentralized domain service protocol for Ethereum addresses, over a 2016 tweet in which he shared his conservative religious views on sexual orientation, gender, and abortion.
Ethereum Name Service Fires Brantly Millegan
Ethereum Name Service, a popular Web3 domain name service, has sacked its Director of Operations Brantly Millegan amid a controversy surrounding his religious beliefs.
Nick Johnson, the founder and lead developer at ENS, announced that Millegan’s contract with True Names Limited, the company that funds ENS development had been terminated in a Monday tweet.
True Names Limited (TNL), the nonprofit that funds and organises development on @ensdomains, has terminated the contract of Brantly Millegan effective today.
— nick.eth (@nicksdjohnson) February 7, 2022
Millegan, a devout Catholic, faced calls to step down from his position over the weekend after a 2016 tweet in which he shared controversial views on homosexuality and transgenderism surfaced on Twitter.In theoriginal tweet, which was later removed from the platform for violating Twitter’s policy, Millegan wrote:
“Homosexual acts are evil. Transgenderism doesn’t exist. Abortion is murder. Contraception is perversion. So is masturbation and porn.”
The post was uncovered Sunday by a Twitter user going under the pseudonym suzuha. Quoting Millegan’s tweet, shesaidthat comments like those made her feel unsafe to come out as queer in the space. “I genuinely hope that he has grown out of this and no longer views queer people in the space as not deserving basic dignity and respect,” sheadded.
In response, Millegan tweeted that a “mob” was beginning to rally against him, alluding to the fact that a significant portion of the ENS community was organizing to exclude him from his positions of power within the project.Hesaid:
“hey looks like I’ve got my first mob. nice to see some ppl finally read the first word of my bio [Catholic]. I love you all, I’m gonna keep working on web3”
Millegan further defended his views on the ENS Discord server and a Twitter Space call. On Discord, after his Twitter account was allegedly suspended, hewrotethat his belief in the Catholic doctrine was public knowledge and that he didn’t think it was practical for the crypto community to exclude traditional-minded religious believers.
As the controversy intensified and more community members called for action against Millegan, many ENS community members started to delegate their tokens to other users (Millegan is still the largest ENS delegate at press time).
A DAO proposal also saw community members vote to remove Brantly Millegan as the project’s Community Steward.Announcing Millegan’s departure from True Names Limited, Johnson said that while he had been a “valued team member,” his position was “no longer tenable” given the recent developments. “Many of you were hurt by Brantly’s comments over the past 24 hours, and we strongly believe that ENS should be an inclusive community,” he added. “Going forward we’ll continue to do everything we can to ensure that remains the case.”
Disclosure: At the time of writing, the author of this feature owned ETH and several other cryptocurrencies.
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The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.
You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.
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Michael Patryn, the recently-outed former treasury manager of Wonderland Money, has sent 2,100 ETH to Tornado.Cash.
Patryn, known in crypto circles under the pseudonym “0xSifu,” insists that the funds are his own.
Patryn has a known criminal record and was the co-founder of the ill-fated Canadian exchange QuadrigaCX.
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0xSifu, the recently-ousted treasury manager of the decentralized finance protocol Wonderland Money, has sent millions of dollars’ worth of Ethereum to Tornado.Cash, a platform that allows users to obscure the movement of their funds. 0xSifu was recently outed as Michael Patryn, co-founder of the fraudulent Canadian crypto exchange QuadrigaCX.
ETH on the Move
Michael Patryn, better known under the pseudonym 0xSifu, appears to havesent2,100 ETH (worth around $5.85 million) to Tornado.Cash, a privacy protocol that allows users to obscure their Ethereum transactions, over the last 13 hours.
Patryn has responded several times on Twitter to users alleging he was involved in foul play, insisting that the funds were his own.The movement of the funds wasfirst pointed outby PeckShield, a blockchain security company; to this, Patrynreplied, “Amazing. Alerts for my own money.”
Shortly afterward, when a user asked, “Whose money is he moving?” in response to Peckshield’s secondalert, Patrynwrote, “Mine. Apparently you’re going to get alert spammed for a while.”
Responding to Coindesk’sclaimthat he was laundering money, Patrynreplied sarcastically, writing, I guess all transfers to Tornado are considered ‘laundered’ to you.”
When Twitter user 0xTutisuggested to Patryn that the optics of his decision to use of Tornado.Cash were not optimal, Patrynexplainedthat he was doing so because he wanted privacy from the “thousands of randos” tracking his wallet.
Trouble in Wonderland
It has been a difficult week for the Wonderland Money community, but the trouble started before 0xSifu, its former treasury manager, wasrevealedto be Michael Patryn, a convicted fraudster, on Jan. 27.Theday beforeusers had suffered significant liquidations, while the TIME token was off its highs by 95%; the MEMO token, meanwhile, was trading far below its so-called intrinsic value.
The developments came to a head whenDaniele Sestagalli, who it was later revealed knew about Patryn’s past before it was publicly discovered, called for the end of his Wonderland project on Sunday. It appears, though, that due to community support, the project has not met its end just yet. Sestagallipostedtoday that the project would continue thanks to the community voting in favor of it.
Disclosure: At the time of writing, the author of this piece owned BTC, ETH, and several other cryptocurrencies.
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The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.
You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.
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Michael Patryn, the recently-outed former treasury manager of Wonderland Money, has sent 2,100 ETH to Tornado.Cash.
Patryn, known in crypto circles under the pseudonym “0xSifu,” insists that the funds are his own.
Patryn has a known criminal record and was the co-founder of the ill-fated Canadian exchange QuadrigaCX.
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0xSifu, the recently-ousted treasury manager of the decentralized finance protocol Wonderland Money, has sent millions of dollars’ worth of Ethereum to Tornado.Cash, a platform that allows users to obscure the movement of their funds. 0xSifu was recently outed as Michael Patryn, co-founder of the fraudulent Canadian crypto exchange QuadrigaCX.
ETH on the Move
Michael Patryn, better known under the pseudonym 0xSifu, appears to havesent2,100 ETH (worth around $5.85 million) to Tornado.Cash, a privacy protocol that allows users to obscure their Ethereum transactions, over the last 13 hours.
Patryn has responded several times on Twitter to users alleging he was involved in foul play, insisting that the funds were his own.The movement of the funds wasfirst pointed outby PeckShield, a blockchain security company; to this, Patrynreplied, “Amazing. Alerts for my own money.”
Shortly afterward, when a user asked, “Whose money is he moving?” in response to Peckshield’s secondalert, Patrynwrote, “Mine. Apparently you’re going to get alert spammed for a while.”
Responding to Coindesk’sclaimthat he was laundering money, Patrynreplied sarcastically, writing, I guess all transfers to Tornado are considered ‘laundered’ to you.”
When Twitter user 0xTutisuggested to Patryn that the optics of his decision to use of Tornado.Cash were not optimal, Patrynexplainedthat he was doing so because he wanted privacy from the “thousands of randos” tracking his wallet.
Trouble in Wonderland
It has been a difficult week for the Wonderland Money community, but the trouble started before 0xSifu, its former treasury manager, wasrevealedto be Michael Patryn, a convicted fraudster, on Jan. 27.Theday beforeusers had suffered significant liquidations, while the TIME token was off its highs by 95%; the MEMO token, meanwhile, was trading far below its so-called intrinsic value.
The developments came to a head whenDaniele Sestagalli, who it was later revealed knew about Patryn’s past before it was publicly discovered, called for the end of his Wonderland project on Sunday. It appears, though, that due to community support, the project has not met its end just yet. Sestagallipostedtoday that the project would continue thanks to the community voting in favor of it.
Disclosure: At the time of writing, the author of this piece owned BTC, ETH, and several other cryptocurrencies.
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The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.
You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.
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Disgraced DeFi Founder Daniele Sestagalli Calls Time on Wonderland
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Shopify previously adopted BitPay and Coinbase Commerce as payment gateways beginning in 2013 and 2014 respectively.
The company has begun to test NFT features in recent months and explored other cryptocurrency projects in the past.
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Shopify CEO Tobias Lütke will join Coinbase’s board of directors, according to an announcement from the crypto exchange.
Coinbase and Shopify Will Focus on DeFi
Lütke will help Coinbase offer its crypto services to more users and businesses around the world.
Lütke said that Shopify and Coinbase have a “like-minded vision,” noting that “[DeFi] and entrepreneurship exemplify the promise of Web3 where opportunity exists for the many, not the few.” Coinbase expressed its plans to work with DeFi last summer, while Lütke explored DeFi possibilities on Twitter in April 2021.
Lütke will serve on the board alongside Coinbase co-founder and CEO Brian Armstrong and co-founder Fred Armstrong.
Other members of Coinbase’s board of directors include Andreessen Horowitz (a16z) members Katie Haun and Marc Andreessen, Union Square Ventures co-founder Fred Wilson, DoorDash executive Gokul Rajaram, and former Cisco CFO Kelly Kramer.
Coinbase is currently the third-largest crypto exchange, with $3.5 billion in volume handled over the past 24 hours.
Shopify Is Highly Interested In Crypto
Coinbase noted that Shopify was an “early adopter of crypto through [its] integration with Coinbase Commerce.” In fact, the company began to support Bitcoin payments via BitPay in 2013, several months before it adopted Coinbase Commerce in 2014.
Those various integrations mean that merchants on Shopify can accept cryptocurrency payments via their storefront.
Shopify also joined Facebook’s Diem project in 2020 and is still listed as a member on Diem’s official website. However, its role is unclear now that Diem appears to be failing.
The company more recently announced support for non-fungible tokens (NFTs) last summer and launched beta access in December.
Incidentally, both Coinbase and Lütke are using Twitter’s NFT feature to display their profile picture, with Coinbase using a tokenized version of its logo and Lütke using a CryptoPunks token.
Disclosure: At the time of writing, the author of this piece owned BTC, ETH, and other cryptocurrencies.
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The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.
You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.
See full terms and conditions.
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Daniele Sestagalli has called for Wonderland to wind down due to divisions in the community.
Sestagalli made the comments despite a community vote that saw a majority of respondents signal that they want to save the project.
The statement follows a dramatic week for the Wonderland community after the project’s treasury manager was outed as a former convict and serial criminal.
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“Wonderland experiment is coming to an end. It is clear from the vote that the community is divided,” Sestagalli wrote.
Wonderland Drama Continues
Daniele Sestagalli has called time on Wonderland.
The disgraced DeFi founder, who rose to prominence in the community at the helm of Wonderland late last year, posted a tweet storm late Sunday stating his feelings on how it should wind down. “Wonderland experiment is coming to an end. It is clear from the vote that the community is divided,” he wrote. “The core and heart of Wonderland is still the community. If we cannot find agreement on whether to continue or not, it means that we failed.”
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Wonderland experiment is coming to an end. It is clear from the vote that the community is divided. The core and heart of Wonderland is still the community. If we cannot find agreement on wether to continue or not, it means that we failed.
— Daniele never asks to DM (@danielesesta) January 30, 2022
The statement drew reference to a community vote over how Wonderland should move forward after what’s been a dramatic week for the protocol. Earlier this weekend, Wonderland community members voted to oust the project’s treasury manager 0xSifu after he was identified as Michael Patryn, a former convict who co-founded the QuadrigaCX exchange (QuadrigaCX made headlines in 2019 when it suddenly shut down after Patryn’s partner Gerald Cotten vanished with $169 million of investors’ funds). Amid the drama, Sestagalli published a Mirror post stating that he thought Patryn should step down from the project before suggesting that the community “should get professionals onboard” to manage the treasury. Although the vote to kick Patryn saw an overwhelming majority of 87.5% vote to replace Patryn, Sestagalli has stated that community divisions signal the end of the project.
Multiple other community votes have been running on Wonderland’s Snapshot page over the weekend, with mixed results. One titled “Vote “YES” for wind down” has a description that reads “If you couldn’t trust Dani or sifu after all this time, you gonna trust new management found within 5 days? Vote yes,” with two options to vote: “YES” or “yes.” It’s received 257 votes so far.
Another similar poll suggests winding down the project and returning the treasury to TIME holders. 53.51% of votes opted in favor of the proposal and 46.49% opposed it. Another calls to save both Wonderland and the treasury. So far, 53.73% of 3,127 respondents have signaled that they are in favor of keeping the project running.
Should the project fold, it’s still unclear what will happen to Wonderland’s $708.6 million treasury. Some havesuggestedthat there’s a risk that the founding team will take a large portion of the funds despite the community reaching a majority consensus on returning the funds to TIME holders.
As news of 0xSifu’s identity surfaced Thursday, Wonderland took a major hit. Sestagalli also suffered embarrassment after he admitted that he had known of 0xSifu’s patchy history for a month. The so-called “Frog Nation”—former Sestagalli fans who banded together around Wonderland and his other projects, Abracadabra and Popsicle, alsoappeared in disarray as the news spread across the community. Critics slammed Sestagalli for failing to disclose Patryn’s identity, and token prices for each of his projects tanked. On Friday, he said that he had received multiple death threats over the debacle.
TIME is down again today, trading at $360 at press time. It’s over 96% short of its all-time high.
Disclosure: At the time of writing, the author of this feature owned ETH and several other cryptocurrencies.
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The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.
You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.