Wrapped Bitcoin (WBTC) maintains over 65% market dominance, achieving a record 123,200 weekly transactions, despite criticism of its custody model and the involvement of Tron founder Justin Sun. In response to community backlash, alternative wrapped Bitcoin tokens like Coinbase’s cbBTC have emerged. Meanwhile, Ethereum is experiencing inflation for the first time in two years, with its issuance rate rising to approximately 0.74% following the Dencun upgrade, prompting concerns about its deflationary status.
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Vitalik Buterin Unlocks 1.268 Million STRK Tokens Worth 470000 Dollars
Vitalik Buterin has unlocked 1.268 million STRK tokens, valued at $470,000, increasing his total STRK holdings to over 2 million, worth approximately $781,000. This makes STRK his most valuable asset outside of Ethereum, which remains his primary holding at 240,171 ETH, despite recent price declines. Buterin’s recent transactions have sparked speculation about their purpose, with many questioning if they are for charitable donations or internal reallocations.
read morePushd Presale Triumphs Amid Ethereum and Cardano Price Declines
In a dynamic shift within the crypto landscape, Pushd (PUSHD) sold out its Stage One presale in just 5 days, highlighting its potential as a decentralized marketplace. The platform’s lower fees, instant transactions, and user engagement model have contributed to its success.Meanwhile, Ethereum (ETH) and Cardano (ADA) have experienced price declines due to factors such as high-interest rates, global economic instability, and broader crypto market contagion. As of January 6, 2024, ETH was trading at around $2,046.30, a drop of about 14% from its recent peak, while ADA tumbled roughly 26.6% in the past few weeks.
read moreEthereum Founder Vitalik Buterin Calls for Cypherpunk Revolution to Reignite Blockchain’s Vision
Ethereum co-founder Vitalik Buterin believes that Ethereum needs to return to its original vision of being a decentralized, peer-to-peer network, rather than focusing solely on financialization. In 2023, the Web3 ecosystem lost $1.8 billion to hackers and scammers, with the Lazarus Group being responsible for 17% of the losses. Following a $49 million exploit, decentralized finance protocol Kyber Network has had to cut its workforce by 50%. Despite these challenges, experts remain optimistic about the future of decentralized finance in 2024.
read moreKyberSwap Cuts Workforce in Half After $48.8 Million Hack, Launches Database to Assist Employees
KyberSwap, a decentralized financial protocol, has had to reduce its workforce by half following a $48.8 million hack in November. Despite the setback, the company plans to assist departing employees in finding new positions in the Web3 industry by building a voluntary database. Kyber Network has temporarily halted its KYBERAI project and liquidity protocol activities to reduce capital spending, but its Aggregator and Limit Order operations remain intact. The company is also working to compensate affected clients for the exploit through its Treasury Grants Program.
read moreKyber Network Takes Steps to Address Security Breach and Launches Zap API
Decentralized finance platform Kyber Network has made significant operational changes and reduced its workforce by 50% in response to a security breach. The company is launching the Zap API to enable easier access to DeFi liquidity protocols and has implemented a grant program to cover users’ losses.
read moreKyberSwap Decentralized Finance Protocol Implements Workforce Reduction Following $48.8 Million Exploit
Decentralized finance protocol KyberSwap has reduced its workforce by 50% following a $48.8 million exploit in November. The company will create a voluntary database to help departing employees find new opportunities, while temporarily pausing certain projects to slow capital expenditure. KyberSwap’s core business, including its Aggregator and Limit Order functions, remains intact, and the company plans to reimburse impacted customers from the exploit.
read moreKyber Network Implements Staff Cuts Following Exploit
Decentralized finance platform Kyber Network is reducing its workforce by 50% after suffering a $46.5 million exploit. The company is implementing measures to cover users’ losses and ensure sustainability, including pausing liquidity protocol initiatives and the KyberAI project. The native token, Kyber Network Crystal (KNC), has remained relatively stable since the exploit.
read moreKyber Network Implements Workforce Reduction and Launches Zap API Following Security Breach
Kyber Network, a decentralized exchange, has announced a 50% reduction in its workforce following a security breach that resulted in a loss of over $48 million in crypto assets. The company is also temporarily halting some initiatives but will continue to operate and develop its core functions. Additionally, Kyber plans to launch a new service called Zap API to bridge users to liquidity protocols, and is creating a database to support departing employees in finding new opportunities. The company is working with authorities to identify the hacker and recover the stolen funds.
read moreCrypto Market Suffers Worst Month in 2023 with $363 Million in Losses from Exploits and Hacks
In November 2023, the crypto market experienced its worst month in terms of exploits, with criminals stealing approximately $363 million across more than 14 incidents. The largest theft was from the U.S.-based crypto exchange Poloniex, where over $131 million was stolen. Flash loan attacks and exit scams also contributed to the significant losses. Overall, the crypto market has lost over $1.7 billion to hackers and scammers this year.
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