x
Scroll lists on Binance, sparking debate over centralization concerns
Scroll’s Binance listing has sparked community debate, with critics raising concerns about centralization, while Scroll’s co-founder has highlighted global growth strategies.
Scroll, an Ethereum layer-2 project, was recently listed on the centralized cryptocurrency exchange Binance, sparking debate in the crypto community about centralization.
The listing, announced on Oct. 11, was praised for its potential to boost growth but criticized for its perceived alignment with centralized entities. Concerns were raised about whether the project was compromising on its decentralization principles.
X user Zeng Jiajun framed Scroll’s decision to list on Binance as “kneeling” to a centralized exchange (CEX), calling it a “tough decision to make” but casting doubt on the long-term implications.
Cointelegraph reached out to Scroll for comment but had not received a response by the time of publication.
Scroll co-founder Ye Zhang explained that the decision to partner with Binance was part of a broader strategy to expand the project’s ecosystem, particularly in emerging markets.
Zhang stated:
“I don’t think partnering with Binance is “kneeling to a CEX for listing” - it’s way more than that, it’s a strategic decision to build a partnership for growth and broader support. However, it is indeed a tough decision.” Read More
Monochrome to Launch ‘World First’ Ethereum ETF on Cboe Australia
Monochrome hopes its ETF will set it apart from U.S. offerings and domestic rivals by appealing to investors focused on capital gains.
Monochrome Asset Management says it is preparing to launch Australia’s first "true" spot Ethereum exchange-traded fund on Cboe following the asset’s long-anticipated approval in the U.S. market.
Set to begin trading on Monday (Tuesday 10 AM AEDT), Monochrome’s Ethereum ETF (IETH) follows the approval of its spot Bitcoin ETF (IBTC) in August 2023, which has since garnered $15 million (US$10.1 million) after launching in June.
While that falls well short compared to the billions held in the U.S., the fund is positioning itself as the world’s first to offer in-kind Ethereum subscriptions and redemptions.
It's a feature that could allow for greater tax efficiencies, CEO Jeff Yew told Decrypt in an exclusive interview. Read More
Vitalik Buterin ponders Ethereum’s post-Merge future
Ethereum co-founder Buterin shared his vision for the future of the protocol, with an emphasis on improvement for proof-of-stake, security and more in a post-Merge world.
Ethereum co-founder Vitalik Buterin took to social media to share his reflections on the state of the protocol and its potential evolution after the Merge.
In a detailed blog post on Oct. 14, Buterin highlighted several key areas where Ethereum could see significant advancements, including faster transaction speeds, improved security and greater accessibility for solo stakers.
The Ethereum Merge in 2022 marked the protocol’s transition from proof-of-work to proof-of-stake (PoS). Buterin called the event “hard-earned” and “long-awaited,” but noted there are still important areas where PoS needs improvement.
According to Buterin, one of the primary goals for Ethereum’s future is to reduce the time it takes to complete a transaction.
Currently, it can take about 15 minutes, a delay that can be frustrating given that Ethereum is the most heavily trafficked blockchain network. The lag time can lead to congestion.
Buterin suggested exploring solutions like single-slot finality, which could drastically reduce transaction time. This would make Ethereum more competitive and improve its overall user experience. He previously proposed single-slot finality in July. Read More
Professor Coin: How Do You Price Cryptocurrencies Like Bitcoin and Ethereum?
Three recent academic papers explore how to price cryptocurrencies when—unlike companies—they don’t have balance sheets.
In any market, one of the most important questions is ‘what drives the expected returns of the assets?” This age-old question has been studied thousands of times by academics, investment banks, traders and hedge funds in equity markets.
One of the most popular findings that helped Eugene Fama earn the Nobel Prize for Economics in 2013 is the Fama-French factors, which show that the market excess return, the outperformance of small versus big companies, and the outperformance of high book-to-market versus low book-to-market firms help explain stock returns.
They have extended this to a Fama-French five-factor model which includes a profitability and investment factor, and has been shown to be quite successful at explaining equity returns.
But how do we price cryptocurrencies where there are no balance sheets, and therefore we cannot get information on book-to-market ratios, or the investment performance of the firm?
This has been a popular area to study in the cryptocurrency literature, as cryptocurrency prices are notoriously volatile and hard to predict. Read More
Breaking Free from Constraints: How Markethive Empowers You to Overcome Censorship, Government Restrictions, and Outdated Marketing Practices
We live in a world where every step you take toward your dreams feels obstructed by invisible barriers as if the odds are intentionally stacked against you. This isn't just your imagination; it is a reality, and these obstacles are built into society’s very structure, protecting corporate giants and keeping aspiring entrepreneurs like you from gaining ground. Every hour, every dollar, every ounce of effort you pour into building something meaningful seems met with another wall carefully designed to hold you back.
Government policies seem to pile on, favoring established players in their grasp while leaving smaller businesses to navigate a confusing labyrinth of taxes and regulations. Even social media, once a beacon of free expression and open connection, now censors and suppresses voices that challenge the norm and agendas that do not conform to their puppet masters' desires. And when you turn to marketing, the cost of visibility on major platforms puts real success out of reach for those without deep pockets.
But what if there were a place built just for entrepreneurs like you? A platform where censorship doesn’t exist, where your voice isn’t filtered through algorithms, and where you can freely connect, grow, and monetize your ideas. Thanks be to God, this place exists, and it’s called Markethive.
Markethive is a powerful and Godly movement built on the principles of decentralization, transparency, freedom, and empowerment of people worldwide. Markethive is a revolutionary hybrid ecosystem that blends social networking, inbound marketing, and blockchain technology. It’s designed to empower entrepreneurs with tools and resources you can’t find anywhere else, giving you the autonomy to thrive outside the limits of traditional systems. Here’s how Markethive sets you free from societal barriers and provides solutions that the world desperately needs. Read More
US Regulators Extract $19,000,000,000 From Crypto Firms Through Enforcement Actions This Year: CoinGecko
A new report from crypto data aggregator CoinGecko reveals that US regulators have so far secured more than $19 billion in settlements from the digital asset industry in 2024.
CoinGecko says the largest crypto enforcement action by monetary value as of October 9th was against bankrupt crypto exchange FTX and its affiliated trading firm Alameda Research.
The Commodity Futures Trading Commission (CFTC) obtained a $12.7 billion judgment in its suit against FTX and Alameda. The amount will be used to repay an estimated $11.2 billion that the former crypto empire owes to its customers and creditors.
The second-highest settlement is with defunct blockchain company Terraform Labs, which agreed to pay $4.5 billion after a jury unanimously found the company and its founder Do Kwon liable in a fraud case filed by the U.S Securities and Exchange Commission (SEC). Read More
Old MEV bot scam rides AI hype to return with new name: SlowMist
Blockchain security firm SlowMist said an increasing number of people have lost funds to fake trading bots that use OpenAI’s ChatGPT in their names to suggest legitimacy.
An increasing number of users are falling victim to an old trading bot scam that’s been rebranded to take advantage of the hype around artificial intelligence, blockchain security firm SlowMist said.
In an Oct. 13 Medium post, SlowMist said cybercriminals have adapted to trending topics by using OpenAI’s ChatGPT in the names of their scam bots to take advantage of the current AI hype.
Fake bots that used to be marketed as a “Uniswap Arbitrage MEV Bot” have been rebranded as a “ChatGPT Arbitrage MEV Bot.”
“By slapping the label ChatGPT onto their scams, they manage to grab attention and appear more credible,” the firm wrote.
“The scammers claim that they used ChatGPT to generate the bot’s code, which helps to ease users’ doubts about any malicious intent in the code,” it added. Read More
Hyperliquid prepares for HYPE token launch, EVM rollout on mainnet
The perpetual futures DEX has set up a foundation and will announce the details of an airdrop next month.
The Hyper Foundation, established to support the growth of the Hyperliquid blockchain, is preparing to conduct the genesis distribution of its native token HYPE.
The new token is a first step toward proof-of-stake consensus and the launch of an Ethereum Virtual Machine (EVM) on the layer-1 blockchain’s mainnet.
Hyper’s flagship product is the Hyperliquid decentralized order book-based perpetual trading platform, which is the world’s biggest by volume at over $1 billion in daily trading in 145 pairs. It has more than 200,000 users.
The launch of the HyperEVM will grant users access to a deeper liquidity pool and additional instruments. The foundation said on X:
“Hyperliquid's order books already provide the deepest and most robust on-chain liquidity for a wide spectrum of assets. […] A native token is essential for the HyperBFT [Byzantine fault tolerance] proof-of-stake consensus, the HyperEVM, and further developments on the roadmap.”
That roadmap includes spot trading and permissionless liquidity, among other things. LayerZero’s ZRO was the first perpetual trade to launch on Hyperliquid in September 2023. Read More
Tether mulls lending to commodity traders: Report
The USDt issuer needs ways to deploy billions of dollars in profits, and commodity traders could benefit from expanded credit.
Tether Holdings Ltd is considering lending to commodities trading companies as the stablecoin issuer looks to deploy billions of dollars in profits, according to an Oct. 14 report by Bloomberg.
Tether, which mints USDt, has discussed United States dollar-denominated lending opportunities with several commodity trading firms, Bloomberg said, citing people familiar with the matter who asked not to be identified.
Tether did not immediately respond to Cointelegraph’s request for comment.
In those discussions, the stablecoin issuer also reportedly explored the potential for Tether to play a role in mainstream commodities trades.
Commodity traders rely heavily on credit to finance international shipments of commodities such as oil and precious metals.
Firms specializing in commodities derivatives — such as futures or swaps — also rely on credit to finance trades. Futures tied to spot cryptocurrency prices are surging in popularity. Read More
Disclaimer: These articles are provided for informational purposes only. They are not offered or intended to be used as legal, tax, investment, financial, or any other advice.
Featured Image Source: Pixabay
