Skip to main content

Posts

Showing posts from December 25, 2021

MLB Team Washington Nationals Partners With Terra Blockchain Community, Ballpark Plans to Accept UST

On February 9, the American professional baseball team based in Washington, D.C., the Washington Nationals, announced the team has partnered with Terra, the open-source blockchain platform and decentralized autonomous organization (DAO). The Washington Nationals detail that the team is a “leading innovator” and is “consistently introducing new technologies to enhance the fan experience.” Washington Nationals Ink Long-Term Deal With Terra Major League Baseball (MLB) team the Washington Nationals has partnered with the blockchain platform and DAO Terra, according to an announcement published by the team on Wednesday. The deal with Terra follows a slew of sports-related deals with crypto firms, but the MLB team will be the first to partner with an open-source blockchain project. In addition to the partnership, the algorithmic stablecoin UST that’s issued on the Terra blockchain will be “accepted as a payment method at Nationals Park as early as next season.” “The Nationals continue t...
Post a Comment
Read more

Binance Turkey fined 8M lira for non-compliance against money laundering

MASAK found Binance Turkey guilty of violating the Law on Prevention of Laundering Proceeds of Crime, also known as the AML Law. The Financial Crimes Investigation Board (MASAK) has fined Binance Turkey 8 million lira (nearly $750,000) after the crypto exchange failed the financial watchdog’s audit for monitoring Anti-Money Laundering (AML) compliance.  The Financial Crimes Investigation Board (MASAK), which serves as Turkey’s financial intelligence unit under the Ministry of Finance and Treasury, found crypto exchange Binance’s Turkey operations guilty of violating laws that intend to prevent the laundering of money acquired through criminal means. According to local news media Anadolu Agency, MASAK carried out an audit of Law No. 5549 on Prevention of Laundering Proceeds of Crime, also known as the AML Law. The AML Law in Turkey requires companies to identify and verify the personal identification information of the customers on the platform, which includes details such as s...
Post a Comment
Read more

Turkish President Erdogan Says Cryptocurrency Law Is Ready as Crypto Regulator Fines Binance 8 Million Lira

Turkey’s President Recep Tayyip Erdoğan reportedly announced that the country’s cryptocurrency law “is ready” and will be submitted to parliament “without delay.” Meanwhile, Turkey’s Financial Crimes Investigation Board (MASAK), which oversees crypto exchanges, has reportedly fined Binance Turkey over violations found during liability inspections. Turkish Cryptocurrency Law ‘Is Ready’ Turkish President Recep Tayyip Erdoğan said at a meeting with journalists Friday that the country’s cryptocurrency law is ready, ABC Gazetesi reported. While providing information on crypto legislation, Erdogan said: The law is ready, we will send it to the parliament soon without delay. Following Erdoğan’s announcement, the state-owned Anadolu news agency reported on Saturday that the Turkish Financial Crimes Investigation Board (MASAK) has fined Binance’s Turkish exchange (BN Teknoloji) 8 million lira ($751,314) over violations found during liability inspections. Without providing further details...
Post a Comment
Read more

What is a honeypot crypto scam and how to spot it?

A virtual trap to lure attackers so that you can improve security policies is what honeypot aims for! What is a crypto honeypot and why is it used? Smart contracts programs across a decentralized network of nodes can be executed on modern blockchains like Ethereum. Smart contracts are becoming more popular and valuable, making them a more appealing target for attackers. Several smart contracts have been targeted by hackers in recent years. However, a new trend appears to be gaining traction; namely, attackers are no longer looking for susceptible contracts but are adopting a more proactive strategy. Instead, they aim to trick their victims into falling into traps by sending out contracts that appear to be vulnerable but contain hidden traps. Honeypots are a term used to describe this unique sort of contract. But, what is a honeypot crypto trap? Honeypots are smart contracts that appear to have a design issue that allows an arbitrary user to drain Ether (Ethereum's native curr...
Post a Comment
Read more

Ethereum Gas Fees Are Currently 62% Cheaper Than Last Month

Since November 9, 2021, or 46 days ago, transaction fees on the Ethereum network have been cut by more than half the rate they were on that day. At the time, the average fee to move ethereum was $62.84 per transfer and since then, the fees have dropped 62.85% to $23.34 per transaction. From $62 to $23 per Transaction, Ethereum Fees Have Been Cut by More Than 62% Just over a month ago, it was a lot more expensive to transfer ethereum ( ETH ) onchain, let alone move an ERC20 token, swap tokens, or interact with a smart contract. On December 25, metrics show the average fee spent on the Ethereum network is $22.80 or 0.0056 ether per transaction. The day prior it was $23.34 per transaction, which is 62.85% lower than the fees recorded on November 9. A 62% savings per data transfer cost is considerable and the median ether fee is even cheaper. Statistics from bitinfocharts.com indicate that on November 9, the median ether fee was $34.28 per transaction and today, the fee is 0.0032 ET...
Post a Comment
Read more

Crypto Mixing Tools Tornado.cash and Cashfusion Obscure More Than $8 Billion in Transactions

While blockchain monitoring has increased a great deal during the last few years, cryptocurrency mixers have seen significant use from those who don’t want their financial transactions tracked. Meanwhile, two mixing applications, Tornado.cash and Cashfusion, have helped crypto owners make their ethereum and bitcoin cash less traceable. The two applications combined recorded more than $8 billion in crypto transactions that have been purposely obfuscated. Over $4.8 Billion in Ethereum Processed via Tornado.cash Digital currency privacy is a big deal to a lot of people. To some people, it’s not and they have no issues transacting on transparent ledgers that are monitored by blockchain surveillance firms. Privacy advocates, on the other hand, use a number of methods like leveraging a VPN, using the Tor browser, and accessing token mixers. As the end of 2021 approaches, the two crypto asset mixing applications Tornado.cash and Cashfusion have processed over $8 billion in digital assets...
Post a Comment
Read more

Spreading holiday joy through charitable giving with cryptocurrency

Charitable crypto campaigns aim to give back this holiday season, demonstrating how effective cryptocurrency and NFT donations can be for donations. The holidays are the perfect time of the year for giving back, and the rise of cryptocurrencies has created even more opportunities for charitable initiatives. This was highlighted during Giving Tuesday 2021, the Tuesday after Thanksgiving which saw over $2.4 million raised in cryptocurrency from the nonprofit fundraising platform The Giving Block. As crypto philanthropy becomes a new subsector of the cryptocurrency economy, some in the industry believe that crypto donations will only continue to increase. Alex Wilson, co-founder of The Giving Block, told Cointelegraph that last year the organization raised about $4 million in crypto donations, noting that this year, over $100 million in crypto donations will likely be received. According to Wilson, this growth is partly due to the fact that donating crypto is more tax efficient than ...
Post a Comment
Read more