Daily Crypto NewsEDITION #75, 12 November 2020

DeFi is alive, be sure!

Hey #Moni Maker 🙃

Today, in 1990, Tim Berners-Lee published an official proposal for the World Wide Web. There is no need to talk about the importance of this event. Let's just thank Sir Berners-Lee and check out our freshly-prepared digest - a lot of exciting things happened on the vast meadows of the Internet.

Let’s go!

According to the analytical website DeFi Pulse, the amount of blocked funds in decentralized finance (DeFi) for the first time exceeded $13 billion.

Uniswap remains the most popular asset, as its dominance index is 23%. Uniswap accounts for about $3 billion of the total blocked funds. This is the first DeFi asset that has overcome this level.

So what?

The hype is not forever, DeFi's alive? Whatever..

In fact, people often make this kind of mistake - they bury a project when it loses a little in popularity.

DeFi has so many ambitions that some Uniswap could have already recorded its rap track.

Ethereum infrastructure provider Infura is currently facing a service outage, causing a delay in price feeds of ether (ETH) and ERC-20 tokens of some services.

The outage has also caused crypto exchanges, including Binance and Bithumb, to disable ETH and ERC-20 tokens withdrawals. The popular Ethereum wallet MetaMask is also having difficulties since Infura is its default service provider. (Both MetaMask and Infura are owned by Ethereum development studio ConsenSys).

The situation has already been resolved, and the developers have eliminated the problem because of an unforeseen Ethereum network hardfork.

So what?

Uh, crypto Twitter was cussing as hard as it could! Many ppl expressed their discontent and accused crypto exchanges of negligence and lack of order, saying they could have foreseen such a turn of events.

We will not swear at anyone (even a little), but just accept that shit happens. Let's keep working!

KuCoin CEO, Johnny Liu, said KuCoin is able to recover $236 million (84%) of the $280 million that was stolen from the exchange in late September.

The recovery was realized by tracking transactions with law enforcement and smart contract updates.

In addition, KuCoin has resumed withdrawal of 176 tokens, and the rest are scheduled to open by November 22.

So what?

Bro, plz, never be down because of such news.

Yes, hacks happen in crypto, but your banks had leaked all your data 10 years ago…

China Construction Bank (CCB) and Hong Kong's Fusang Cryptographic Exchange plan to issue $3 billion in debt securities on the blockchain.

The certificates can be exchanged for BTC on the Fusang exchange, as well as for USD. The start of trading is scheduled for this Friday.

In case of a successful launch, Fusang will be able to establish cooperation with state banks to issue securities in other currencies, including the yuan.

So what?

How tired we are of hypocritical banks that are diving into crypto while chasing the hype...

Actually, no. Get in, comrades, there is enough room for everyone. Anyway, soon every bank will have to follow these steps…

The FTX Derivative Exchange holds a $500,000 trading tournament on its platform.

To get the prizes, traders need to show a maximum profit on net PnL trading in USD.

Prizes

Raw $PnL Prizes

Top prize: A share of BRK.A (Berkshire Hathaway) (~$343,000)

2nd prize: A Tesla Model S or equivalent value of TSLA equity on FTX ($69,420)

3rd - 10th prize: iPhone 12 or equivalent value of AAPL equity on FTX ($1,200)

Lucky Draw Prizes

Lucky Draw Prize 1: 5 shares of BYND (Beyond Meat) equity on FTX ($~700), total 20 winners.

*randomly chosen amongst the top 200 users by raw PnL

Lucky Draw Prize 2: FTX Ledger Nano X wallet ($150), total 50 winners.

Competition period: November 11, 2020. - November 25, 2020 (IIC).

All details of the tournament are here.

You can register at FTX following our link. Good luck!