Bondly Finance urges users to stop trading following alleged exploit

Decentralized e-commerce platform Bondly Finance is the latest decentralized finance (DeFi) platform to suffer an alleged exploit. The developer team advised the DeFi community to stop trading Bondly, the platform’s native token, following a suspected exploit on July 15.  Bondly Finance has yet to provide details regarding the attack, aside from being compromised by an unknown party. “Rest assure, we have already taken action and will be operating as usual as soon as possible,” the official announcement reads. Bondly token price tanked more than 60% within three hours following the…

Binance Users Barred from Withdrawing Pounds, Euros

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India’s ICICI Bank warns remittance users to steer away from Bitcoin

India’s stance on crypto adoption has been a gray area ever since the birth of Bitcoin (BTC). In what seems like another blow for the Indian crypto community, one of the biggest financial services, ICICI Bank, has warned users not to use their remittance services for transferring any form of crypto or digital currency. In ICICI’s latest iteration of the Retail Outward Remittance Application form, the bank has clearly stated its intent to stop users from using the service for crypto transfers. Based on the Foreign Exchange Management Act (FEMA)…

Ethereum DeFi Ecosystem Has Hit 3 Million Users

Share this article DeFi adoption is showing no sign of slowing down, as the total number of unique addresses hits 3 million. DeFi Continues to See Exponential Growth   According to data from Dune Analytics, the total number of unique addresses interacting with DeFi has passed 3 million. As of Jul. 13, the analytics tool found 3,004,620 addresses using at least one of the 24 applications tracked by the platform.  A dashboard compiled by crypto enthusiast Richard Chen tracks a range of Ethereum-native protocols to find the total number of…

Ethereum’s 2.0 upgrades aren’t the game-changer that could bring more users

Ethereum 2.0 (Eth2) is being pegged as the blockchain Messiah of Ethereum. Newsflash: it’s not. The long-awaited changes are not expected to solve core issues that are plaguing the network and forestalling wider adoption. Vitalik Buterin, the brilliant mastermind behind the Ethereum blockchain, considers the personnel working with Ethereum as a bigger problem than the actual software, as he stated in a recent interview with Forkast news. While the personnel working on the project may or may not be problematic, it’s surely not the only shortcoming. As promising as the…

Terra and Harmony Announce Tight Full-Stack Partnership Focused on Users, Developers, and Mass Adoption

Share this article Terra and Harmony have announced a full-stack partnership. Terra and Harmony Link Up True to our cross-chain and interoperability vision, today we’re announcing a deep integration and partnership with Terra, a large and growing ecosystem focused on programmable money and other financial primitives. Stephen Tse, Founder of Harmony said the following: “We are excited to work with Terra to continue our journey of building in a multi-chain future. Terra and Harmony are bridging to build a vibrant cross-chain finance ecosystem with UST stablecoin, ONEAnchor fixed rate lending,…

Airbnb is exploiting its users, but decentralized alternatives are possible

Anybody who uses Airbnb knows that the company is resting on its laurels as the first mover in the home-sharing economy 1.0, but its dominance rests atop exploitation of the hosts and guests that are actually doing the sharing and creating the value. The guests pay too much and the hosts are paid too little. The resulting situation is akin to feudalism, rendering hosts as serfs who rent out their homes, keep things clean, deal with guests, and do the actual work. Yet the value derived from Airbnb’s peer-to-peer exchange…

Reality show is casting crypto users locked out of their wallets

A casting call for a cable network series may offer crypto users at the end of their rope a way to access tokens locked away — or at least show viewers some of the options available to them. In a LinkedIn post from last month, casting director Jessica Jorgensen called on crypto users who have forgotten their passwords — and presumably their seed phrases — or lost their private keys to wallets with the clock ticking. The series offers consultations from cryptocurrency and cybersecurity experts to help users recover access…

Chinese banks tell staff to recruit up to 300 new digital yuan users each

Chinese banks have begun a hard sell of digital yuan wallets, asking staff to recruit hundreds of new users each year. According to a translation of a June 6 article from Shenlian Caijing, employees of top banks such as the Industrial and Commercial Bank of China and the Bank of Communications, along with four other state-owned banks, have been instructed to promote digital yuan wallets to an average of 200 to 300 people a year. To entice new users, employees are able to offer an odd variety of small gifts,…

Binance Blocks SEPA Transfers, Affecting EU Users

Key Takeaways Binance has disabled SEPA transfers, a common payment method that European customers use to deposit funds. The decision is likely the result of a recent FCA action that prohibits the exchange from operating in the U.K. It is unclear whether Binance plans to resume SEPA transfers. Share this article Binance has reportedly suspended SEPA transfers, according to an email that the exchange has sent to its users. SEPA Transfers Suspended Binance’s email reads: “Due to events beyond our control, we are temporarily suspending EUR deposits via SEPA Bank…