Reddit has decided to end its Community Points initiative, which rewarded high-quality posters with Ethereum-based tokens. The website cited a lack of scalability and high costs as the reasons for discontinuing the program. The decision will only affect a few subreddits, as the original plan to put all Reddit users on the blockchain was deemed […]
Reddit has announced that it will be shutting down its blockchain-based rewards service called “Community Points” due to scalability concerns. This decision has caused the value of Reddit tokens, MOON and BRICK, to plummet, leading to disappointment and anger among Reddit users and crypto enthusiasts. The move has been criticized by traders and users, with […]
Scroll, a new player in the zero-knowledge Ethereum Virtual Machine (zkEVM) sector, has officially launched its mainnet. The team behind Scroll made the announcement on October 17, stating that existing Ethereum applications and developer toolkits can now migrate to their scaling solution. Scroll’s zkEVM aims to reduce transaction costs and increase throughput for decentralized applications […]
Uniswap, a decentralized exchange, has implemented a 0.15% swap fee on certain tokens, sparking questions about its impact on traders. This fee change could generate daily fees ranging from $388,000 to $444,000 on Uniswap V3. Approximately 35% to 40% of the platform’s transaction volume occurs on the front end. The targeted tokens for this fee […]
Cardano creator Charles Hoskinson believes that the real battle in the digital asset space is between cryptocurrencies and central bank digital currencies (CBDCs). In an interview, he warns of the dangers of CBDCs and emphasizes the importance of decentralized crypto. Hoskinson argues that the game is not about Ethereum versus Cardano or other specific cryptocurrencies, […]
The Fantom Foundation, a smart contract and Dapp platform, has fallen victim to a phishing scam resulting in the loss of hundreds of millions of dollars from its crypto wallets. The hack, which affected only the foundation and not the blockchain itself, saw the theft of approximately $7 million worth of funds, including ETH, Tether, […]
Renowned staking solution Lido Finance has announced its decision to discontinue operations on the Solana blockchain. The move comes after a thorough discussion and voting process within the Decentralized Autonomous Organization (DAO) community. Lido’s P2P team presented a proposal outlining the achievements, challenges, and future prospects of Lido on Solana, offering two possible solutions. Ultimately, […]
Federal Reserve Board governor Michelle Bowman expressed her views on financial innovation during a speech at Harvard Law School. She discussed topics such as central bank digital currency (CBDC), stablecoin, and the use of technology to improve existing systems. Bowman emphasized the importance of the U.S. intermediated banking model in protecting consumer financial activities from […]
Federal Reserve Governor Michelle Bowman expressed skepticism about the benefits of central bank digital currencies (CBDCs) during a roundtable discussion in Washington, D.C. She questioned whether a U.S. CBDC could solve financial problems more effectively or efficiently than existing solutions. Governor Bowman highlighted the importance of responsible innovation in money and payments, emphasizing the need […]
In a recent interview, Evan Cheng, CEO of Mysten Labs, discussed the changing dynamics of the crypto investment landscape. Cheng believes that the hype-driven bull run in the crypto market will soon give way to a more strategic and cautious approach. He expressed optimism about the growing interest of traditional financial institutions in the crypto […]
