After the collapse of Terra, the digital assets sector needed a way to identify critical nodes in the global DeFi community. Kanis Saengchote, a researcher at Chulalongkorn University in Thailand, recently developed a framework for identifying and measuring systemic risk in decentralized finance (DeFi) institutions.  The new protocol is called the Global Systematically Important Protocol...Continue Reading

AAVE price may have been impacted by this week’s Curve Finance scandal, but a robust insurance fund and steady fee revenue could protect against further downside. AAVE, the governance token of the decentralized finance (DeFi) protocol Aave, experienced a 17% decline between July 30 and August 1, reaching the $62 level.  While the $62 support...Continue Reading

Metcalfe’s Law suggests that the more people who use a cryptocurrency, the more valuable and useful it becomes. Does Metcalfe’s law help explain Bitcoin’s price formation? Yes, Metcalfe’s Law can help explain Bitcoin’s price formation — to some extent. It is relevant to Bitcoin since it implies that the value and utility of the Bitcoin...Continue Reading

Twitter Help warns that other users may still be able to tell if you’re a subscriber. X users who subscribe to the “Blue” service now have the option to hide their “checkmark,” according to a recently updated Twitter Help article.  Owner Elon Musk had previously warned that he wasn’t afraid to keep “blowing things up”...Continue Reading

PArSEC — short for “parallelized architecture for scalably executing smart contracts” — runs on the ERC-20 standard, so it could have other applications, too. The Massachusetts Institute of Technology (MIT) Digital Currency Initiative (DCI) has introduced the experimental PArSEC platform. PArSEC — short for “parallelized architecture for scalably executing smart contracts” — is open source...Continue Reading

Bitcoin is witnessing a strong battle between the bulls and the bears, with the sellers currently holding a slight edge. Ratings agency Fitch downgraded the United States’ long-term credit rating from AAA to AA+ on Aug. 1, and this move dented the risk-on sentiment. The U.S. equities markets witnessed profit-booking on Aug. 2, and the...Continue Reading

NFT company Yuga Labs is set to acquire a metaverse-building startup to advance its Otherside metaverse project. In this week’s newsletter, read about why the food and beverage nonfungible token (NFT) market is set to exceed $2 billion by 2032, check out the Bruce Lee avatar that has made its way into the metaverse, and...Continue Reading

The scheme consists of mirroring addresses and sending dust transactions to users to trick them into sending funds to the scammer’s wallet. Binance CEO Changpeng “CZ” Zhao warned his followers on X — formerly Twitter — about a tricky and increasingly popular scam targeting the crypto community in which fake wallet addresses are used to defraud...Continue Reading

Officials reportedly speculated an indictment against Binance in the U.S. could cause a run on the exchange similar to what happened with crypto exchange FTX in November 2022. The United States Department of Justice is reportedly considering charging cryptocurrency exchange Binance with fraud, but hesitating based on costs to consumers. According to an Aug. 2...Continue Reading

Cointelegraph Accelerator participants will get a headstart with Consensys’ Web3 solutions, including MetaMask, Infura and Linea zkEVM. The transition from Web2 to Web3 is reshaping the technology landscape and attracting the attention of developers. Despite the challenges faced during the current crypto winter, the Web3 ecosystem continued to onboard new developers, with many thousands of...Continue Reading