📉 USDC Market Cap Slides By $10B Since Tornado Cash Bans
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Investor Interest in USDC Wanes as Competing Stablecoins Gain Market Share
LOSING SHARE Centre Consortium’s USDC, crypto’s second-largest stablecoin by market capitalization, is steadily losing market share. The circulating supply of USDC has fallen by almost 20% from $53.6B on Aug. 8 to $43.2B on Oct. 27. Meanwhile, other leading stablecoins like Tether’s USDT and Binance’s BUSD expanded by $1.82B and $3.41B respectively.
Coinglass Data Shows $1.2B Of Liquidations in the Past 48 Hours
By Owen Fernau
LIQUIDATIONS FTX, one of crypto’s largest exchanges processing over $10B in daily trading volume, is potentially having a record week in terms of liquidations. The exchange has liquidated $1.21B of positions in the past two days, according to data from Coinglass. Of that, $677M was related to Bitcoin positions with another $470M related to Ether.
$1.5 BILLION were stolen from cross-chain bridges in 2022.
It's obvious that the crypto industry needs to create a more secure way to make cross-chain trades.
Project TXA will allow ANY EXCHANGE to do cross-chain trading WITHOUT bridging assets while still having decentralized settlement.
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TXA's newtwork is comprised of Settlement Data Providers (SDPs) to listen to and propagate all trades happening on participant exchanges.
They maintain a register of each trade and and obligations between users.
Settlement is entirely P2P and neither the exchanges nor Project TXA touch the assets at any point.
Anyone can become a Settlement Data Provider operator and validate trading data.
They earn fees from each validated trade.
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Protect TXA has been building through two bear cycles and we aren't going anywhere. We are very close to alpha and have considerable support from partners and the community alike.
FTX Follows Binance With Move to Release its Own Pegged Token
LAUNCH An FTX stablecoin is in the works and may launch in the “not too distant future,” CEO Sam Bankman-Fried told European crypto publication The Big Whale in a recent interview.
Defiant Podcast Video
A Step-by-Step Guide to the Digital Wallet for Solana
WALLET Phantom is the main digital wallet for the Solana blockchain. An Ethereum rival, Solana offers faster transaction speeds and more affordable transfer fees.
Facebook owner Meta reported that its metaverse division Reality Labs posted a $3.7 billion loss in the third quarter of this year.
Eric Wall, crypto blogger and investor, and Udi Wertheimer, a recovering Bitcoin maxi, discuss everything about Bitcoin Maximalism, whether BTC can survive, and whether Ethereum constitutes a threat for Bitcoin.
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Ether Issuance Goes Negative as Merge Delivers on Deflationary Promise It was one of the great promises of The Merge — the Ethereum network would become deflationary.
🤨 Multichain Questioned About Management of Millions in User Funds The vast majority of crypto lost to hacks this year was stolen from bridges, the technology that allows users to transfer digital assets between blockchains.
Bored Apes Dealt Marketing Jackpot by Bicycle Playing Cards If you’ve ever played a game of poker or Go Fish, chances are you were dealt Bicycle playing cards.
🧑💻 ✍️ Stories in The Defiant are written by Owen Fernau, Aleksandar Gilbert, Samuel Haig, and yyctrader, and edited by Edward Robinson, yyctrader and Camila Russo. Videos were produced by Alp Gasimov. Podcast was led by Camila, edited by Alp.
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