Aave Launches DAI Stablecoin Rival on Ethereum
GHO, an algorithmic stablecoin from Aave, has now gone live and is backed by various cryptocurrencies, including Ethereum (ETH). The second-largest decentralized finance (DeFi) system in the world, Aave, has released GHO (pronounced “go”), an overcollateralized decentralized algorithmic stablecoin on Ethereum, after more than a year of development. The GHO stablecoin can be created by […]
zkSync Launches New STARK-Based Proof System
ZkSync Era has presented layer-2 scaling solution for Ethereum Boojum, and it asserts to run on general processing units (GPUs) of consumer-grade quality. One of the few Ethereum scaling protocols that uses zero-knowledge rollups (ZK-rollups) to boost capacity and speed while lowering fees is ZkSync Era. Zero-Knowledge Succinct Non-Interactive Argument of Knowledge (zk-SNARKs) and zk-STARKs […]
Crypto Lender Geist Finance Shuts Down Permanently
Lending protocol Geist Finance is shutting down permanently due to losses from the Multichain exploit. This result has also been impacted by the need for proper valuation for Multichain assets due to the Chainlink oracles tracking genuine USDC, USDT, WBTC, or ETH values. Before the Multichain breach, the Fantom (FTM) network’s lending system Geist had […]
Binance Lays Off Over 1,000 Employees
Binance is reportedly laying off over 1,000 employees as part of a restructuring effort that could result in a reduction of more than a third. Ex-employees claim that job cuts affected customer service personnel worldwide, particularly in India. Over 1,000 workers at the exchange have lost their jobs as of this week’s layoffs. The projected […]
Coinbase Suspends Staking Services in Four US States
The US-based cryptocurrency exchange Coinbase has said it will temporarily bar consumers from staking new assets in four jurisdictions. Users in California, New Jersey, South Carolina , and Wisconsin will be able to access specific staking services further notice, according to a blog post published by Coinbase on July 14. Regulatory agencies in 10 U.S. […]