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P2P Insurance Network Cover Protocol Executes Claim for Pickle Finance Hack

25 Nov 2020 1 minute read 0 comments Abhimanyu Krishnan

Decentralized insurance coverage network Cover Protocol announced on Nov. 24 that its users had successfully agreed to payout a coverage for the Pickle Finance hack that occurred on Nov. 23. Cover Protocol will cover some of the funds from the $20 m...

China Bank Halts $3B Blockchain Bond

24 Nov 2020 1 minute read 6 comments Abhimanyu Krishnan

On Nov. 23, China’s second largest bank, the China Construction Bank (CCB), withdrew its listing of $3 billion in debt securities on the blockchain, according to an announcement from partner exchange Fusang. The Fusang exchange said that the CCB had...

JPMorgan Chase Analysts Say That Institutional Funding Has Been Rising in Q4

24 Nov 2020 1 minute read 2 comments Abhimanyu Krishnan

Analysts from multinational investment bank JPMorgan Chase, in a report published in early Nov. 2020, have said that institutional players are investing heavily into Bitcoin in Q4 2020 than they were in Q3 2020. Analysts Nikolaos Panigirtzoglou, Mik...

Binance Tells US Users They Have 14 Days to Close Account

24 Nov 2020 1 minute read 7 comments Abhimanyu Krishnan

On Nov. 23, Binance began telling some of its users in the US via email that they would have 14 days to withdraw their holdings, failing which their accounts would be locked. The exchange began blocking US users in early Nov. 2020. Binance expects i...

PayPal CEO Says Cryptocurrencies Will Have More Utility

24 Nov 2020 1 minute read 0 comments Abhimanyu Krishnan

PayPal CEO Dan Schulman, in an interview with CNBC’s Squawk Box on Nov. 23, said that he expects Bitcoin and other cryptocurrencies to be used more as a currency over time. Schulman said that he thinks “that there'll be more utility with cryptocurre...

Ethereum 2.0 Meets Staking Requirement, Launch Set for Dec. 1

24 Nov 2020 1 minute read 1 comment Abhimanyu Krishnan

Ethereum’s 2.0 deposit contract reached its threshold value for 524,288 ETH on Nov. 23, ensuring that the beacon chain will launch on the originally intended date of Dec 1. Over 610,000 ETH has been deposited in the contract, which went live on Nov....

$20M Stolen from DeFi Project Pickle Finance

23 Nov 2020 1 minute read 14 comments Abhimanyu Krishnan

A hacker has stolen nearly $20 million from DeFi protocol Pickle Finance, according to an official statement on Nov. 22. The hacker had drained 19,759,355 DAI from the pDAI PickleJar (forked versions of Yearn Finance vaults) on Nov. 21  The team con...

CipherTrace Files Another Patent for Monero Tracing Technology

23 Nov 2020 1 minute read 2 comments Abhimanyu Krishnan

Blockchain intelligence firm CipherTrace has filed its second patent for tracing Monero (XMR) transactions, according to an official announcement published on Nov. 20. Called “Techniques and Probabilistic Methods for Tracing Monero”, Ciphertrace’s n...

KuCoin Resumes Withdrawal Services Nearly 2 Months After Hack

23 Nov 2020 1 minute read 1 comment Abhimanyu Krishnan

According to a blog post published on Nov. 22, KuCoin has resumed deposit and withdrawal services on the exchange following the $281 million hack it suffered in Sep. 2020.  Deposit and withdrawals on the platform have resumed, but some tokens have a...

Pantera Raises $5M for Bitcoin Fund

23 Nov 2020 1 minute read 0 comments Abhimanyu Krishnan

Blockchain investment firm and hedge fund Pantera Capital has raised $5 million for a Bitcoin Fund according to a form D filing with the US SEC dated Nov. 20. The filing shows that Pantera had amassed another $5 million, bringing its total funds rai...