Die wankende Sparplattform ist das nächste Krypto-Unternehmen, das gegen geltendes Verbraucherschutzrecht in Kalifornien verstößt und von der DFPI gerügt wird.
CurateDAO launches decentralized Pinterest-like data curations on Avalanche
CurateDAO has released decentralized Pinterest-like data curations supported by incentives on Avalanche blockchain. The integration has made the CurateDAO curate-to-earn protocol features available on Avalanche.
In a nutshell, users will be able to assemble boards similar to the ones on Pinterest and earn AVAX tokens if other users use the boards.
CurateDAO uses a Web2 application-like interface and the integration with Avalanche will offer low transaction fees and high throughput.
CurateDAO curate-to-earn protocol
The CurateDAO curate-to-earn protocol boards are decentralized and use smart contracts to distribute revenue among content creators and curators.
Users can access curated lists on CurateDAO including metaverse governance books, futuristic snakes, Web3 apps, and Codes for NYC bathrooms among others.
CurateDAO, however, aims at migrating to a subnet to increase its reach with the help of the Blizzard grant fund it received from Avalanche.
According to CurateDAO’s founder, Michael Fischer, CurateDAO is at the moment the best platform for helping users find the best content while rewarding data scouts and curators.
How CurateDAO works
Curators first mint a curation and define the guidelines for the information to be provided within the curation. Scouts then find data for the curation following the set guidelines.
The scouts then stake some money in the curation, which is returned to them once the curation is accepted. It is the prerogative of the curator to accept or deny the provided curation.
The accepted curations then earn money through affiliate links, benefactors, paid subscriptions, and advertisements. What is earned is then dived between the scouts and curators based on their contributions.
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Crypto futures exchange CoinFLEX has filed for restructuring in Seychelles
CoinFLEX, a renowned crypto futures exchange, has filed for restructuring in a Seychelles court.
This comes two months after the exchange temporarily halted withdrawals before allowing a limited withdrawal mid-last month.
The recent move with filing for restructuring is part of the exchange’s efforts to address a shortfall caused by a counterparty that failed to make a margin call.
The exchange has however said that it intends to get approval from depositors and the court on a proposal to give recovery value USD (rvUSD) tokens, equity, and locked FLEX coins to depositors.
Portraying optimism, the Chief Executive Officer of CoinFlex, Mark Lamb, said:
“We look forward to welcoming a new group of shareholders to CoinFLEX and are glad to be in a jurisdiction where we can quickly resolve this situation and return maximum value to depositors.”
Previous events
On June 23, CoinFLEX suspended withdrawals citing the harsh crypto market conditions and uncertainty involving a counterparty. The exchange then went ahead to suspend the trading of its native token, FLEX Coin (FLEX), Spot trading, and perpetual contract trading.
On July 22, the exchange proposed a plan to compensate depositors amid its efforts to recover the over $84 million debt owed by a “large individual customer.”
Mid-July, CoinFLEX partly reopened withdrawals allowing customers to withdraw 10% of their assets for a week. It also went ahead to cut down its workforce in order to lower the cost of running its business.
The crypto exchange has also outlined its focus on recovery plans that would enable it to regain insolvency. The firm said it was open to new acquisitions, and equity investors.
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Bitcoin (BTC) vor „wichtigem Tag“ – Trader warten gespannt auf Inflationszahlen
Eine böse Überraschung könnte für den Kryptomarkt „hässlich“ werden, doch die Beobachter sind zuversichtlich, dass die Inflation ihren Höhepunkt bereits überschritten hat.
You can sell Bitcoin and still be bullish, says Cypherpunk CEO
The cryptocurrency market has lost more than 60% of its value over the past few months.
Cypherpunk CEO Jeffrey Gao believes that people can sell Bitcoin and be bullish about the cryptocurrency.
Bitcoin is down by more than 65% of its value since the start of the year. Bitcoin hit an all-time high of $69k in November 2021 but is currently trading around $23k per coin.
The bear market has seen some investors, including Tesla, sold off some of their bitcoins. Gao said investors can be bullish about Bitcoin and still sell their coins. He said;
“Going forward, that mentality towards risk management while still being bullish over the long term is very important. […] You can be bullish on crypto, but you can still sell out of the market.
Over the longer term, at least at this point in time, I would be more bullish on Bitcoin conservatively than those other tokens. But over the next two or three months, I’m probably more partial towards Ethereum and Solana.”
Gao said although he is bullish about Bitcoin, he is more optimistic about certain altcoins like Ether and Solana (SOL).
The CEO revealed that Cypherpunk started the liquidation process in early May, prior to the Terra network collapse. He said;
“By the time that it happened, we probably offloaded about 30% or 40% of the risk. We sold another portion when BTC briefly traded above $30,000 in late May. The final one-third we probably got rid of was sometime in June.”
Gao pointed out that the broader cryptocurrency market has witnessed forced liquidations, with some of the leading institutions like Voyager, Three Arrows Capital and Celsius getting involved in operations that lacked risk management.
The Cypherpunk CEO lamented that the absence or near absence of risk management is what really separates the crypto industry from the other mature financial markets.
The total cryptocurrency market cap remains above $1 trillion, down from the all-time high of $3 trillion recorded in November 2021.
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