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Cryptocurrencies/Coins/Immutable X (IMX)
Immutable X price, market cap on Coin360 heatmap

Immutable X(IMX)

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$0.440623
(-0.65%)
0.00002565 BTC
Market Cap (Rank#96)
$322,279,974
18,758 BTC
Vol 24h
$3,195,212
185.974 BTC
Circulating Supply
731,419,289.78
Max Supply
2,000,000,000
1h agocryptodaily
Ren Warns Of Potential Losses As Upgrade Looms On The Horizon
Alameda Research-backed Ren Protocol has warned users of a potential risk of losses as it winds down its current Ren Version 1.0. The Ren team stated that once version 1.0 is retired, users may not be able to recover their assets. Potential Losses As Version 1.0 Shuts Down Alameda Research-backed Ren Protocol, which issues the wrapped bitcoin asset RenBTC, warned users that they risk losing their assets once it shuts down its existing Ren 1.0 version. The project team encouraged users to redeem their tokens before the current version shuts down and the tokens lose all their value. The primary reason behind the shuttering of version 1.0 is the lack of funding after the collapse of Alameda Research. The developers added that users could unwrap their tokens and bridge them back to their native chains. The Ren team plans to disable mints on Ren shortly, meaning it would be impossible to deposit assets on the platform to bridge to other networks. Additionally, burns will also be disabled within 30 days. Compatibility Issues Once Ren’s version 1.0 is shut down, it will be replaced by Ren 2.0, a new, community-run version. However, the Ren team warned that the two projects might not be compatible. “As announced previously, the Ren 1.0 network is shutting down due to the events surrounding Alameda. As compatibility between Ren 1.0 and 2.0 cannot be guaranteed, holders of Ren assets should bridge back to native chains ASAP, or risk losing them!” Ren announced on the 18th of November that it was releasing a new protocol version. The announcement stated that the new protocol would be launched in parallel with the shutdown of the current version. This implied to users that current bridged assets may still be usable. However, the announcement has made it clear that current assets would not be usable on the new version of the platform and may be lost forever. RenVM, the company behind the protocol, was acquired by Alameda Research in 2021. However, the collapse of Alameda necessitated the speeding up of the move to the new version of Ren. “Marking this event as the end of Alameda’s involvement in the project by sunsetting Ren 1.0 safeguards the reputation, integrity, and hence long-term prospects of the Ren ecosystem. According to available data, there are currently 1130 renBTC currently on Ethereum. Users Are Confused And Angry The announcement from the Ren team has created considerable confusion and anger in the community as users woke up to the possibility of losing their assets in their entirety. Users also wondered if the Ren token itself was in any type of danger following recent events. One frustrated user vented, “If we hold tokens on a CEX, do we need to do something?” Other users were confused, asking for clarification about their REN tokens and if the current update would impact those as well. Several users asked the Ren team to issue a clarification, adding that the announcement had led to panic selling. So far, the Ren team has not responded to these tweets. However, it did issue instructions on how users could check if they have bridged assets that need withdrawing. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
2h agocointelegraph
What is stagflation, and how could it impact the cryptocurrency markets?
What is stagflation, how to fight it with crypto and how are the cryptocurrency markets impacted by high inflation and economic downturn?
7h agocryptodaily
Nomad To Restart Bridge After Crippling $190 Million Hack
Cross-chain bridge Nomad has announced that it is preparing to relaunch its bridge and offer partial refunds to users impacted by the hack. Nomad suffered a crippling hack in August when malicious actors discovered and exploited a loophole in Nomad’s smart contracts. Relaunch And Reimburse The Nomad cross-chain bridge has announced that it is preparing to relaunch its bridge and reimburse users that lost funds during the $190 million exploit that took place earlier in the year. The Nomad team announced the launch of its relaunch guide after it fixed the smart contract vulnerability that hackers exploited to orchestrate the August hack. In a Medium post, the team stated, “Since the Nomad Token Bridge hack, the team has been working hard on recovering funds and making the necessary updates to safely relaunch the Nomad Token Bridge.” According to Nomad, the protocol would allow users to bridge back their madAssets, and access a pro-rata share of the recovered funds. The company also implemented a redesign for the token bridge, without which, according to the company, the “first people to bridge back their madAssets would receive canonical tokens on a one-to-one basis until there were no canonical tokens left.” In an attempt to avoid this first-come, first-serve approach, Nomad implemented several changes in the protocol and gave users the ability to bridge back, access a portion of the recovered funds, and ensure that the tokens accessed are in the original token, providing impacted users with a mechanism to access any funds recovered in future. Nomad added, “Given the scope of these changes, a full audit of the smart contracts was completed along with an additional re-review of any remediations with our auditors.” Verification Process Open Nomad also asked its users to go through and comply with all Know Your Customer (KYC) regulations through CoinList, a centralized exchange and launchpad, to receive their reimbursed funds. The team stated that KYC was essential to ensure that all payments were in line with compliance norms. Once the verification process is completed, users will receive a special NFT that will grant them access to a proportional share of the recovered funds on the Ethereum blockchain. The NFTs will be non-transferable and allow holders to receive any other funds that are recovered in the future. The Nomad Bridge Hack Nomad’s cross-chain bridge allows users to move assets across Ethereum, Avalanche, Moonbeam, and Evmos blockchains. In August, malicious actors discovered a security vulnerability in Nomad’s smart contracts, which enabled them to steal funds through dubious transactions. An analysis of the hack revealed that the original hackers were joined by hundreds of copycat hackers, using the same vulnerability, but modifying the recipient address, token amount, and target tokens. The hack resulted from a faulty software update initiated by the Nomad developers, which allowed anyone to drain funds from the protocol. The hack resulted in $190 million being stolen from Nomad, making it one of the biggest crypto hacks of 2022. As of August, Nomad had managed to recover almost $37 million from the stolen funds with help from ethical hackers, with the company still asking hackers to return the stolen tokens. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
17h agocointelegraph
US lawmakers introduce bill aimed at reporting on crypto miners' potential environmental impact
The Crypto-Asset Environmental Transparency Act would instruct the Environmental Protection Agency to report on crypto mining activity consuming more than 5 megawatts.
18h agocoindesk
SEC Tells US-Listed Companies They’d Better Disclose Crypto Damage
The U.S. Securities and Exchange Commission issued letters to companies flagging the need to disclose any potential impacts from mayhem in the crypto markets.
19h agocoindesk
US Lawmakers Want Environmental Agency to Study Crypto Mining's Energy Impact
U.S. Senators Ed Markey and Jeff Merkley and Rep. Jared Huff introduced a bill Thursday that would, if passed, direct the Environmental Protection Agency to study the energy usage and environmental impact of crypto mining.
1 day agocointelegraph
US regulator to seek feedback on DeFi's impact on financial crime
A “close look” is being taken at money laundering and terror financing laws by FinCEN as it asked banking sector players for feedback on DeFi’s crime risks.
1 day agocointelegraph
ECB official proposes ban on tokens with an 'excessive ecological footprint'
EU officials previously rejected an outright ban on crypto mining, but the Markets in Crypto Assets bill could require firms to report any potential environmental impact.
2 days agocryptodaily
Nexus Mutual Expects Significant Loss From Maple Credit Pool
Smart contract insurance platform Nexus Mutual has revealed that it expects to take a significant loss on its investment in a Maple Finance Credit Pool. It was also revealed that the smart contract auditing platform Sherlock would also be taking a considerable hit. A Sizable Loss Nexus Mutual has stated that it is expecting a significant loss on its investment in a Maple Finance credit pool. Nexus revealed the loss in a statement released on Monday, where the platform warned of a potential loss of around 2461 ETH, worth around $3 million, resulting from Orthogonal trading’s recent default to Maple. Nexus is a peer-to-peer, risk-sharing protocol that offers alternatives to insurance against risks such as DAO hacks and smart contract bugs in decentralized finance governed by NXM token holders. Nexus had, back in August, deposited 15,463 ETH, worth around $19.3 million at current prices, into a wrapped ETH (wETH) credit pool on Maple Finance, prompting some observers to speculate that the final loss could be significantly more. More Trouble Brewing? Pseudo Anonymous Twitter user DeFiyst speculated that over 69% of the deposited ETH remains in the M11 wETH pool. Recent defaulter Orthogonal Trading makes up around 17.6% of the M!! wETH pool’s loans, while Auros makes up just over 37% of the pool’s loans. Auros has already been given two loan extensions but has failed to make payments for a 2400 wETH loan and a 6000 wETH loan from the wETH pool. Some speculation has been that the protocol has been entangled with the FTX fiasco. A Twitter user speculated, “Auros is like 15-20% of Maple’s active loans. Auros are skirting the brink of default on Clearpool as well. Maple delegates have extended Auros loans twice now with no comms from Maven, Maple, or Auros. Auros has not tweeted since Nov 8 when FTX turned off withdrawals.” According to Maple Credit’s dashboard, the troubled debt represents around 56% of the $27.8 million debt in the wETH credit pool. Additionally, only $3.1 million in cash deposits are not tied up with loans, severely limiting Nexus’ ability to withdraw funds. Nexus Provides Update On Auros In its statement, Nexus also provided an update on the situation with Auros and Orthogonal Trading. In the statement, the platform mentioned that it had been made aware of short-term liquidity issues at Auros, which had impacted their ability to make repayments in the immediate future. The statement added that M11 Credit had reviewed Auros’ financial statements and given them a short-term extension based on their path to recovery. Based on this, Nexus stated it believes it can expect a high recovery on the loans disbursed to Auros. According to the statement, the losses from Auros are expected to be much smaller than those from Orthogonal Trading. In the case of Orthogonal Trading, Maple stated that it expected the firm to default on all outstanding loans. Maple stated that as a result of Orthogonal misrepresenting its financial position, the company was severing all ties with the parent entity and would take appropriate legal action. Sherlock Also Reveals Losses Sherlock allows DeFi users to stake USDC and insure protocols audited by the team, earning yield in the process. However, some of the yield generated was derived from Maple Finance yield strategies, some of which had exposure to the M11 Credit USDC pool. According to Jack Sanford, co-founder of Sherlock, the platform is anticipating a $4 million loss due to the Orthogonal default. Sanford added, “I am truly sorry on behalf of Sherlock for the loss in the Maple pool. And I think Sherlock will need to take drastic action to create a better staking pool setup in the future that doesn’t rely on competing with the highest APY of the day.” Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
2 days agocoindesk
Exploring Biden’s Executive Order on Crypto, 6 Months In
CoinDesk published its annual Most Influential series on Monday, highlighting a number of regulators, lawmakers and similarly impactful individuals. I spoke to Carole House, one of the authors of the White House executive order on crypto, to take a look at the document, its origins and where we are now.
3 days agocryptodaily
Vitalik Buterin Highlights Notable Ethereum Projects
Vitalik Buterin has outlined his ideas on what kinds of projects inside the Ethereum ecosystem may operate as critical cornerstones of what Ethereum's future might look like. In a blog post, Buterin shares that he's excited about Ethereum-based projects that are working on DAO-governed stablecoins with a focus on real-world assets and zero-knowledge decentralized identities. According to to the Ethereum co-founder, the recent collapse of FTX has had a benign impact on the crypto market and its wide array of users, to the extent that the very idea of decentralization might be put to question and rendered uncertain. To Buterin's mind, stablecoins issued with a strong decentralized autonomous organization (DAO) forming a pillar behind its governance would provide users with better benefits in terms of utility as a currency, for the longer term. In terms of the use of crypto as a replacement or subsumption of traditional fiat currency, this Buterin argues that using crypto for transactions instead of using cards that link one's personal identity through banks actually echoes what cash transactions have long preserved: privacy. "There is also the important broader philosophical case for cryptocurrency as private money: the transition to a "cashless society" is being taken advantage of by many governments as an opportunity to introduce levels of financial surveillance that would be unimaginable 100 years ago. Cryptocurrency is the only thing currently being developed that can realistically combine the benefits of digitalization with cash-like respect for personal privacy." Buterin opines. In terms of the interoperability of decentralized identity, Buterin believes that digital identity is essential to allow for multiple blockchain-based identities to co-exist, with more heft place on the value of interoperability as a principle for essentially binding together all possible platforms into a shared, commonly usable space. Examples of use cases alongside this decentralized identity stack includes projects such as the Ethereum Name Service (ENS), a development protocol that assigns human-readable names to Ethereum addresses. Another example is the work behind Sign In With Ethereum (SIWE), which enables users to opt to sign or log on to websites that do require some degree of identity, all with the use of any number of Ethereum addresses which they can prove to be their own. Such projects preserve privacy, while also allowing Ethereum users to more easily and seamlessly interface with decentralized applications and platforms. By extension, these technologies further the cause of decentralization within the Ethereum ecosystem. Other examples of these include proof of humanity, for the case of DAOs which attract a large number of contributions for improvement, as well as "attestation" mechanisms which create blockchain-based proofs of a unique user's participation within a DAO's governance model. Buterin says that such tools can also be used in conjunction and applied to use cases such as treating and filtering spam on chat platforms such as Blockscan by drawing correlations between a user's on-chain activity. On a similar note, this kind of use case can also be applied to replace traditional KYC (Know Your Customer) methods of user verification by requiring analysis of on-chain activity, instead of requiring proofs of identity which may be faked. "Many of these applications are being built today, though many of these applications are seeing only limited usage because of the limitations of present-day technology. Blockchains are not scalable, transactions until recently took a fairly long time to reliably get included on the chain, and present-day wallets give users an uncomfortable choice between low convenience and low security. In the longer term, many of these applications will need to overcome the specter of privacy issues." Buterin shares. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
3 days agocointelegraph
The impact of CBDCs on stablecoins with Bitget's Gracy Chen
While CBDCs will cater to local demands, cooperation between countries could facilitate and support the widespread adoption of readily-available stablecoins.
3 days agocoindesk
Bitcoin's Stagnant Crypto Dominance Points to Investor Exodus After FTX Bankruptcy
"Because of the size of this year's scandals and their far-reaching impacts, a lot of investors aren't moving to BTC because they're just leaving the space entirely," one expert said.
3 days agocryptodaily
Orthogonal Trading Gets Default Notice for $36M Debt
Orthogonal Trading has defaulted on eight loans worth around $36 million on DeFi lending protocol Maple Finance. The default has resulted in Maple Finance severing ties with Orthogonal Trading for misrepresenting its financial position. A $36 Million Default It has emerged that crypto firm Orthogonal Trading has defaulted on $36 million worth of loans taken on DeFi lending protocol Maple Finance. The default came after it was revealed that Orthogonal Trading’s funds had become tied up with bankrupt crypto exchange FTX. The default is considered significant, impacting 30% of all active loans on the lending protocol. As a result of the default, Maple Finance has severed all ties with Orthogonal Trading. Orthogonal Trading runs a credit business and a crypto hedge fund. According to the statement released by Maple Finance, it is removing the firm as a borrower on the Maple Finance platform, and also removing Orthogonal Credit as a delegate, and shutting down its lending pools. M11 Credit Issues Default Notice Orthogonal was due to repay a $10 million USDC stablecoin loan from a credit pool managed by M11 Credit. The company was a significant borrower on Maple Finance and also a manager and underwriter of a credit pool on the DeFi protocol. As a result of the default, M11 Credit issued a notice of default to Orthogonal for all of its outstanding loans on Maple’s USDC Stablecoin Pool. The majority of the defaults, amounting to around $31 million, are in the M11 USDC pool, run by M11 Credit. The default notice also covers Orthogonal’s wrapped ether (wETH) loans worth around $5 million. This loan is from another M11 Credit-managed lending facility on Maple. In a blog post, M11 stated that Orthogonal misstated their exposure to FTX. The post added, “We believe that Orthogonal Trading previously purposefully misstated their exposure and has therefore committed a serious breach of the Master Loan Agreement (MLA). Rather than cooperating with us and disclosing their exposure, they attempted to recover losses through further Trading, ultimately losing significant capital.” According to M11 Credit, Orthogonal only informed them on the 3rd of December that it had incurred larger than disclosed losses due to its exposure to FTX and, as a result, would not be able to repay its debt. “We are extremely shocked and disappointed by the actions of Orthogonal Trading. Purposefully misstating information during the numerous contacts we have had over the last weeks severely impacted our ability to manage our outstanding credit risk.” Maple Finance Severs Ties As a result of the default, Maple Finance decided to sever ties with Orthogonal, stating that the company had misrepresented its financial position. In a scathing statement, Maple stated that Orthogonal was “operating while effectively insolvent” and did not communicate to Credit M11 or Maple Finance that it would be unable to service the debt. The statement added, “It is now clear that they [Orthogonal Trading] have been operating while effectively insolvent, and it will not be possible for them to continue operating a trading business without outside investment. Misrepresentation like this is in violation of Maple’s agreements, and all appropriate legal avenues to recover funds will be pursued, including arbitration or litigation as necessary.” According to a Maple Finance spokesperson, the firm expects to recover at least $2.5 million, which will be used to cover the damage from the default. These funds will come from the pool cover and fees accrued by Orthogonal, which are still on the platform. M11 Credit is also considering legal action against Orthogonal, hoping to recover some of the funds. Maple Finance Founder Disappointed By Events Sid Powell, the founder of Maple Finance, revealed that he was shocked and disappointed by the incident. However, he also acknowledged the growing need for more stringent due diligence when it comes to undercollateralized lending. He added that the platform might look to introduce partially collateralized loans moving forward. Powell also assured users that the protocol locks pool funds in separate smart contracts and that the losses were limited only to the impacted pools. Funds in other pools remained safe, Powell stressed. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice
4 days agocoindesk
He Who Should Not Have an Impact on Crypto
Crypto aspires to function without monetary oversight, but this year the U.S. Federal Reserve’s chair proved how far from reality this goal is at a time of high interest rates. That’s why, once again, Jerome Powell is one of CoinDesk’s Most Influential 2022.
4 days agocryptodaily
Bybit To Cut Workforce Amidst Fears Bear Market Is Here To Stay
Bybit has announced that it will be laying off nearly 30% of its global workforce, becoming the latest cryptocurrency exchange to do so. The move comes as fears grow that the bear market is here to stay for the foreseeable future, despite minor market gains. A Significant Cut In Workforce Bitcoin has been unable to push back above the $20,000 mark, signifying that the bears have the crypto markets firmly in their grasp. This has had a crippling impact on the markets, as numerous companies and trading platforms lay off staff members to align themselves with the new market reality. The latest to join this list is Bybit. With the overall cryptocurrency market vastly different than what it was just over a year ago, several companies have seen an adverse impact. Crypto exchanges have faced the brunt of these changes, and Bybit has become the latest exchange to slash its workforce. The Singapore-headquartered exchange announced plans to reduce its existing workforce by 30%. The move is seen as part of a larger reorganization of the business as Bybit looks to refocus its efforts during the ongoing bear markets. Bybit CEO and co-founder Ben Zhou made the announcement. The CEO also apologized to those impacted by the cuts, stating that the downsizing was necessary. “Difficult decisions made today, but tough times demand tough decisions. I have just announced plans to reduce our workforce as part of an ongoing reorganization of the business as we move to refocus our efforts for the deepening bear market. It’s important to ensure Bybit has the right structure and resources in place to navigate the market slowdown and is nimble enough to seize the many opportunities ahead.” Details Of The Move Crypto industry analyst Colin Wu shed some light on the recent layoffs, stating that the layoff ratio was 30%. He further added that the axed employees would get three months’ salary as compensation. The move comes after the exchange had also laid off 30% of its workforce back in June 2022. The platform had seen stunning growth, with its workforce swelling from just a couple of hundred employees to nearly 2000 at the height of the bull markets. Bybit offers its users around 345 trading pairs and 265 coins and maintains a reserve of $1.88 billion. Not The Only One Announcing Cuts Bybit is not the only cryptocurrency exchange platform that has cut its workforce amidst the crippling bear market. According to data sourced from tech industry layoff tracker Layoffs.fyi, 17 crypto companies have undertaken significant staff cuts in November. Crypto.com and Coinbase were among the first platforms to announce cuts, with the former reducing staff by several hundred employees, while Coinbase announced that it was cutting 18% of its workforce in June. The cuts in November saw Kraken announce that it was cutting 30% of its 1100-strong workforce. It stated at the time that the reduction in staff would take the company’s team size back to what it was just a year ago. Bitso and Coinjar also announced cuts at their end, while reports stated that Bitfront was completely shutting down. Other exchanges that announced cuts were Blockfi, which also filed for bankruptcy, DapperLabs, BitMEX, NYDIG, Mythical Games, WazirX, and Australian cryptocurrency exchange Swyftx. A Cold Crypto Winter Intensifies According to Zhou, recent issues with Blockfi, which filed for bankruptcy, and Genesis, demonstrate that the current bear markets are significantly harsher than expected from both industry and market perspectives, adding that tough times demand tough decisions. Against this backdrop, the markets have made marginal gains over the past 24 hours. However, the overall picture remains extremely bearish. Total market capitalization is hovering around $900 billion but remains a far cry from their record-setting levels of over $3 trillion, achieved in November 2021. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
5 days agocryptodaily
Flasko (FLSK) To Be A Strong Competitor To Huobi Token (HT) And The Sandbox (SAND
Investors are searching for profitable investment opportunities due to the unfavorable economic climate that caused the FTX and BlockFi collapse. Nearly all coins have been impacted by this downward trend, with some falling and losing 90% of their value. It's hard to locate a currency that the industry's total downswing hasn't influenced. The Huobi Token (HT) and The Sandbox (SAND), two well-known coins, are not immune to this sudden price drop. Despite the unfavorable market, coins with solid foundations, like Flasko, are ready to outperform other currencies. Huobi Token (HT) Not A Viable Long-Term Investment The Huobi Token (HT) offers a few particular advantages to Huobi users, but its primary purpose is to maintain the efficiency of Huobi's exchange. The Huobi Token (HT) is used as a tool to take on Binance and its native BNB cryptocurrency. In the last seven days, Huobi Token (HT) saw a rise of 31% because Huobi partnered with Dominica to help launch its national token, DMC. Nevertheless, an investment in Huobi Token (HT) is not a good idea since it went down 5% on the last day alone. Investing in projects with more room for growth is the way to go. The Sandbox (SAND) With More Price Drops To Come Last year, the Metaverse coin The Sandbox (SAND) came on the scene with a bang. The hype surrounding The Sandbox (SAND) helped it reach its peak of $8.44, but it has all been downhill since then. It is currently down 93% from that point while trading at $0.5881. And with the recent 35% drop in just one month, we can see that The Sandbox (SAND) bearish trend continues. Experts predict that this price will continue to sink, and The Sandbox (SAND) holders are migrating to better projects with upside. Flasko (FLSK) Has Actual Use Cases Compared To HT And SAND As seasoned investors know, finding projects with unique ideas and real-world applications is the fastest method to progress in cryptocurrencies. And that is why Flasko is a better investment than Huobi Token (HT) and The Sandbox (SAND). Flasko will introduce the first and best alternative-investment platform that will combine the cryptocurrency sector and the trillion-dollar appreciating wine, whiskey, and champagne industry. This rising industry provides investors with 28% yearly returns; thus, tapping into it is bound to yield profits! On the Flasko platform, fractionalized NFTs backed by real-world asset will be made available for buying and selling. Flasko will partner with up-and-coming premium beverage start-ups to give them a platform to market their products and reach a new audience. For users who invest a tremendous amount, Flasko will provide three VIP tiers or Clubs, as they call them: Wine, Whiskey, and Champagne. These come with many perks and benefits! There has never been a better time to invest in Flasko and benefit from its distinctive value offer than now when tokens are available for only $0.085 each. And with the price predicted to surge 4,000% in 2023, we recommend checking Flasko out! Website: https://flasko.io Presale: https://presale.flasko.io Telegram: https://t.me/flaskoio Twitter: https://twitter.com/flasko_io Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
6 days agocryptodaily
Russia’s Sber Bank Announces Ethereum And MetaMask Integration
Russian banking giant Sber, formerly Sberbank, has announced that it is integrating MetaMask and Ethereum on its proprietary blockchain. The move comes as the Russian administration continues to be under crippling sanctions and will see the lender move into DeFi and Web 3.0. Ethereum And MetaMask Integration Russia’s largest lender, Sber, has announced that it is integrating support for Ethereum and MetaMask on its proprietary blockchain. The announcement was made during the first international meeting of participants in the blockchain industry, which the Sber Blockchain Laboratory organized. Sber had officially announced new opportunities for its proprietary blockchain platform, which included compatibility with smart contracts and applications on the Ethereum Network. The move was designed to allow developers to move smart contracts and even entire projects between Sber’s blockchain and public blockchain networks such as Ethereum. The latest additions also bring integration with the Ethereum-compatible cryptocurrency wallet MetaMask. Users and developers can use the wallet to interact with the Ethereum blockchain. Sber’s integration with MetaMask will enable users to make operations with tokens and smart contracts on Sber’s proprietary blockchain platform. The press release stated, “The blockchain platform will also provide integration interaction with one of the most popular MetaMask wallets, with which users will be able to perform operations with tokens and smart contracts based on the Sber blockchain. Alexander Nam, head of Blockchain Lab, added, “Sber Blockchain Lab works closely with external developers and partner companies, and I am glad that our community will be able to run DeFi applications on Sber’s infrastructure.” He also added that the new features would help Sber to bring in developers, corporations, and financial institutions, helping them explore how blockchain, Web 3.0, and decentralized finance can be applied in businesses. Actively Developing Blockchain Products Sber has been quite active in developing blockchain-related products in the recent past. In 2021, It had applied with the Bank of Russia to launch a blockchain platform to support its stablecoin Sbercoin. The Bank of Russia approved this application, following which Sber announced its first digital currency deal in June 2022. Russia’s stance on crypto and digital assets has seen a considerable change over the past few years. The government had imposed a complete ban on cryptocurrency payments in 2020. However, just last month, Russia’s Ministry of Finance and the Bank of Russia threw their support behind a draft amendment tabled by lawmakers. The amendment proposed the creation of a national crypto exchange in the country. Russian Administration Optimistic About Web 3.0 According to Nam, the rapid development of Web 3.0 will see platforms supporting blockchain protocols becoming increasingly in demand. The Russian lender’s announcement also comes after Russian President Vladimir Putin came out in support of blockchain technology and crypto. The Russian President criticized the monopoly prevailing in global financial systems and expressed confidence that digital currencies and technologies based on them would drive independence from global banks. The President also hinted at developing a new global payment system based on blockchain technology, adding that the new system would be free from “interference by other countries.” This was seen as a reference to the crippling sanctions against Russia by the West after the invasion of Ukraine. Sber was also severely impacted by the sanctions. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
6 days agocryptodaily
LBank Exchange Will List WAHED Token (WAHED) on December 5, 2022
INTERNET CITY, DUBAI, 2nd December, 2022, ChainwireLBank Exchange, a global digital asset trading platform, will list WAHED Token (WAHED) on December 5, 2022. For all users of LBank Exchange, the WAHED/USDT trading pair will be officially available for trading at 10:00 UTC on December 5, 2022. As the world’s first investment hub for blockchain businesses in technology, sustainable initiatives, and innovative companies, WAHED is focused on revolutionizing revenue management for the ones looking for investment funding and organizations handling social impact projects. Its native token WAHED Token (WAHED) will be listed on LBank Exchange at 10:00 UTC on December 5, 2022, to further expand its global reach and help it achieve its vision. Introducing WAHED Start-ups need capital, and owing to no credit history, acquiring traditional bank loans remains a challenge for new small businesses even to this day. WAHED is the solution to the hassle of funding for technology startups and eco-friendly and sustainability-oriented startups, and works towards offering a world of transparency, which is built on trust. Driven by the power of blockchain, WAHED streamlines a decentralized ecosystem of fund generation with its six core components, including token, portals, projects management, NFT marketplace, crypto exchange, and foundation. All six components provide smart solutions to associate partners, helping them generate funds seamlessly and incentivize WAHED’s ecosystem as a whole. The ecosystem of WAHED allows organizations to leverage funding from blockchain-based solutions. The token-based economy system of WAHED will help in generating returns that will be reinvested into the capital generation stream, creating a community-generated revenue stream that is distributed amongst all partners to establish equitable profit sharing. WAHED’s leadership team is composed of passionate philanthropists with expertise in entrepreneurship, blockchain technology, and project management. Over the years they have worked with various NGOs and charitable organizations in the Middle East, Europe, and Southeast Asia. Team members including the chairman Shaikh Abdulla Bin Ahmed Bin Salman AlKhalifa, vice chairman Eng. Abdulrahman Bin Ahmed Al Abdulkader, board member Sergio Torromino and Salvatore Nicotra, business development director Eng. Anas Mahmood, finance director Khalid Mustafa Jalili, strategy director Eng. Muath Abdulrahman Al Abdulkader, technology & operations director Migin Vincent, worldwide marketing director Ahmad Fayadh, sharia consultant Prof. Dr. Muwaffaq AlDulaimi, media advisor Ebrahim Alnaham, senior PR & communications officer Farah Asad Abuzzait, and head of administration Tariq Mohamed Hassan are the building blocks of WAHED that work towards achieving the aim of partnering with new high growth innovative technology ventures and make this world a healthy space for tech-based startups. Partnerships, Grant Campaign, and More Building partnerships is an essential part of WAHED project’s future development. In addition to supporting human welfare and philanthropic initiatives, WAHED focuses on collaborating with environmental welfare initiatives and wildlife protection & animal welfare projects. WAHED recently announced its partnership with logistics specialists TASAWUQ. Currently operational in Riyadh, Jeddah, and Dammam, TASAWUQ made the growing global demand for same-day delivery a reality in Saudi Arabia’s largest cities. By partnering with the blockchain specialists at WAHED, the advantages of TASAWUQ’s cloud technology and extensive partner network will be scaled for the rest of the Kingdom to experience. WAHED also built Partnerships with The Creator’s Group and EnterMed. The partnerships stand to provide a range of benefits that will undoubtedly elevate the experience and cost savings of the end users. By utilizing blockchain as a tool to promote efficiency and transparency, WAHED aims to raise the bar on how businesses can be conducted, and how lives can be improved. In addition, WAHED will be hosting their Grants Program on Questbook, to provide equity-free grants and support the buidlers and help them grow, while striking a long-lasting strategic partnership to nurture them. As WAHED build partnerships and grow with the communities, it will be shifting towards an autonomous governance body. Once active, WAHED team will propose pre-listed activities for the community to vote on. WAHED believes in keeping things crystal clear and all its partners can enjoy transparency with all funding activity and project progress as it produces measurable performance metrics while leveraging blockchain ledger technology. Additionally, WAHED has also held a campaign where participants can pitch in their best business ideas for a grant worth 25K USDT. This campaign helped Web3 entrepreneurs get access to funds in an alternative and more approachable way, allowing them to build their dreams without worrying about the capital. Focused on revolutionizing revenue management for the ones looking for investment funding and organizations handling social impact projects, WAHED extends full support to the ones who want to pave the way for global welfare and human economic development. The amount raised in WAHED seed round sold for private investors reached up to $500,000 and the tokens will be locked for one year and after that only 5% can be withdrawn every month. About WAHED Token As the native utility token of the WAHED project, WAHED token fuels the entire ecosystem by acting as the medium for economic exchange and solving core issues like transparency and lack of trust. WAHED tokens will be used for investment in the new, high-growth innovative technology start-ups. It will also be allocated to various NGOs, and periodically, these tokens will be sold in the market and the money will be released to the NGO. Investing in WAHED tokens will offer participants great wealth-building opportunities. Investors can make a strong investment portfolio and can benefit from the increase in its value. The WAHED token will be listed on LBank Exchange at 10:00 UTC on December 5, 2022. This listing will undoubtedly help it further expand its business and draw more attention in the market. Learn More about WAHED Token: Official Website: https://wahedprojects.org/ Discord: https://discord.gg/YGDBk9UbmN Twitter: https://twitter.com/wahedprojects Instagram: https://instagram.com/wahedprojectscoin Facebook: https://www.facebook.com/wahedprojects About LBank LBank is one of the top crypto exchanges, established in 2015. It offers specialized financial derivatives, expert asset management services, and safe crypto trading to its users. The platform holds over 7 million users from more than 210 regions across the world. LBank is a cutting-edge growing platform that ensures the integrity of users' funds and aims to contribute the global adoption of cryptocurrencies. Start Trading Now: lbank.com Community & Social Media: Telegram l Twitter l Facebook l LinkedIn l Instagram l YouTube ContactLBK Blockchain Co. LimitedLBank [email protected]@lbank.info
7 days agocryptodaily
DeFi Protocol Ankr Hit By Multi-Million Dollar Exploit
With the crypto industry’s focus on the FTX fiasco, DeFi hackers have been making merry, hitting Ankr, and as per information available, stealing $5 million. Hackers were able to exploit an unlimited minting bug. The DeFi protocol stated it is working with exchanges to mitigate the hack’s impact. Ankr Falls Victim To Exploit Ankr, a BNB Chain-based decentralized finance (DeFi) protocol, has confirmed that it has fallen victim to a multi-million dollar exploit. The attack occurred on the 1st of December and was discovered by on-chain security analyst PeckShield on the 2nd of December. Ankr confirmed the developments shortly after, stating on Twitter that hackers had managed to exploit the aBNB token. They also announced that they were working with exchanges to halt trading of the token in question. “Our aBNB token has been exploited, and we are currently working with exchanges to immediately halt trading.” Details Of The Hack According to the available details, the hacker was able to mint 20 trillion Ankr Reward Bearing Staked BNB (aBNBc) thanks to a vulnerability in the smart contract for the token. “Our analysis shows the $aBNBc token contract has an unlimited mint bug. Specifically, while mint() is protected with onlyMinter modifier, there is another function (w/ 0x3b3a5522 func. signature) that completely bypasses the caller verification to have arbitrary mint !!!” PeckShield reported that the hacker had transferred around 900 BNB, worth around $253,000 into Tornado Cash. Additionally, the exploiter also bridged USDC and ETH to the Ethereum blockchain. According to PeckShield, the hacker holds 3000 ETH and around 500,000 USDC. The 20 trillion aBNBc tokens held by the attacker make them the 13th largest holder of the token. The aBNBc token is the reward-bearing token for BNB tokens staked on the Ankr platform. Vulnerabilities In The Smart Contract Code Blockchain security firm Beosin confirmed the source of the exploit, stating that it was likely due to vulnerabilities in the smart contract code, along with compromised private keys. According to Beosin, these vulnerabilities could have emerged from a technical upgrade carried out by Ankr. “@ankr has been exploited. $aBNBc has dropped -99.5%. The hacker minted tons of $aBNBc and made a profit of 5,500 BNB (~$1.6 million). The deployer changed the implementation contract to the vulnerable contract address before the attack (possibly due to private key compromise).” A spokesperson for the security firm stated, “It is possible that the deployer’s private key was exposed in this upgrade, leading to an attacker using deployer privileges to modify the contract.” Binance Investigating The Exploit Binance, in a post on the 2nd of December, confirmed that its team was engaged with Ankr and other related parties and was investigating the matter further. It also added that no Binance user funds were at risk. “We are aware of the attack targeting @ankr’s aBNBc token. Our team is engaged with the relevant parties and @BNBCHAIN to investigate further. This is not an attack against #Binance, and your funds are SAFU on our exchange. This thread will be updated should there be any updates.” ANKR And BNB Price Drops As a result of the developments, both ANKR and BNB saw a considerable drop in price. At the time the news of the exploit broke, the ANKR token dropped around 6.6%, falling to $0.0211. However, it has since recovered and is currently trading at $0.0216. The token is already over 90% down from its all-time high of $0.213. The BNB token also dropped, falling by 3.1%. However, this decline was attributed to a wider decline in the crypto markets. DeFi hacks had shot up drastically over the past couple of months, with October becoming the worst month in DeFi history. Several DeFi protocols, such as the Ethereum Alarm Clock Service, Polygon’s QuickSwap, Mango Markets, and others, fell victim to exploits. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
8 days agocointelegraph
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9 days agocryptopotato
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The impact of FTX’s downfall is being felt all across the crypto spectrum. Since the FTX crisis began to unfold, the crypto market has shed over $200 billion. Those who have commented on the FTX Fiasco include former Kraken CEO Jesse Powell, Binance CEO Changpeng Zhao, Cardano’S Charles Hoskinson, and Tesla CEO Elon Musk, among […]

About Immutable X

The live price of Immutable X (IMX) today is 0.440623 USD, and with the current circulating supply of Immutable X at 731,419,289.78 IMX, its market capitalization stands at 322,279,974 USD. In the last 24 hours IMX price has moved 0.004271 USD or 0.01% while 5,075,296 USD worth of IMX has been traded on various exchanges. The current valuation of IMX puts it at #96 in cryptocurrency rankings based on market capitalization.

Learn more about the Immutable X blockchain network and how it works or follow the price of its native cryptocurrency IMX and the broader market with our unique COIN360 cryptocurrency heatmap.

Immutable X Price0.440623 USD
Market Rank#96
Market Cap322,279,974 USD
24h Volume3,195,212 USD
Circulating Supply731,419,289.78 IMX
Max Supply2,000,000,000 IMX
Yesterday's Market Cap324,714,780 USD
Yesterday's Open / Close0.441705 USD / 0.445976 USD
Yesterday's High / Low0.450046 USD / 0.433992 USD
Yesterday's Change
0.01% ( 0.004271 USD )
Yesterday's Volume5,075,296 USD
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