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Tether expands USDT to Aptos blockchain for lower fees
Tether's USDT is now live on the Aptos blockchain, aiming to enhance digital currency use with ultra-low fees.
Tether has launched its United States dollar-pegged token, USDT, on the Aptos blockchain to lower transaction costs.
According to a press release shared with Cointelegraph, the move is part of Tether’s plans to improve digital currency accessibility and its use globally.
By integrating Tether on Aptos, Tether aims to utilize Aptos blockchain’s scalability and speed to provide users with “extremely low gas fees, costing only a fraction of a penny.”
Through the new integration, transaction fees will become “economically viable” for wider use cases, including “microtransactions [and] large-scale enterprise operations.” Read More
HashKey and Catizen join forces in TON ecosystem expansion
HashKey Group’s collaboration with Catizen on the TON ecosystem marks a significant step in Web3 and GameFi development.
HashKey Group, a digital asset financial services provider in Asia, has announced its partnership with Telegram Mini App, Catizen, becoming the group’s first Web3 partner.
A press release shared with Cointelegraph states that the licensed HashKey Global exchange will provide Catizen users with regulatory “compliant and reliable digital asset services.”
The collaboration, which “will focus on the Ton ecology,” marks a milestone for both entities as they work cooperatively to develop gaming finance (GameFi) products and “global digital entertainment infrastructure.”
The digital asset firm’s decision to collaborate with Catizen resulted from The Open Network (TON) ecosystem’s rapid growth. Read More
Bitcoin Miners Shifting to Artificial Intelligence and High-Performance Computing, According to VanEck Analysts
New research from VanEck reveals that Bitcoin (BTC) miners are shifting to artificial intelligence (AI) and high-performance computing.
In a thread on the social media platform X, Matthew Sigel, the head of digital assets research at VanEck, says that BTC miners are utilizing technology to earn profits through strategic arbitrage.
“Bitcoin miners are shifting to AI and high-powered computing (AI/HPC), unlocking new revenue through strategic arbitrage. We estimate a $38 billion net present value opportunity by converting 20% of their collective capacity by 2027. (For context, the combined market cap of the stocks we looked at is $19 billion).”
According to VanEck, AI projects are energy-intensive endeavors and Bitcoin miners are well-positioned to address the issue and generate a new income stream.
“The synergy is simple: AI companies need energy, and Bitcoin miners have it. As the market values the growing AI/HPC data center market, access to power – especially in the near term – is commanding a premium… Existing Bitcoin miners are uniquely equipped to support AI/HPC immediately.” Read More
ParaSwap launches intent-based protocol to curb MEV attacks
Popular MEV attacks, such as sandwich transactions, have netted attackers nearly $17 billion in the past 30 days.
Decentralized exchange aggregator ParaSwap is launching an intent-based trading protocol designed to mitigate an issue costing millions of dollars on crypto transactions daily: MEV attacks.
“MEV” refers to the “maximal extractable value,” in which validators use their ability to control the order, inclusion and execution of onchain transactions to profit from users. According to data from data platform EigenPhi, attackers have profited nearly $17 billion over the past 30 days from popular attacks such as sandwich transactions.
“MEV has cost users billions, contributing to a degraded user experience and making protocols less efficient in DeFi,” Mounir Benchemled, founder of ParaSwap, told Cointelegraph.
In early 2024, ParaSwap’s team started working on its intent-based trading model to offer MEV protection. The protocol, according to Benchemled, allows users to define their trading “intent” instead of exposing raw transactions to mempools.
The decentralized finance (DeFi) boom of 2021 made MEV extraction especially lucrative. Certain protocols, like Uniswap, were heavily targeted by bots, raising concerns about possible market abuse. Read More
The New Mini Blog Newsfeed Is Here At Markethive! A significant achievement unlocked, with many more to come
The Markethive Social Market Broadcasting Network is rapidly gaining prominence as a blockchain-based ecosystem that empowers entrepreneurs with a unique blend of uncensored expression and impartial dialogue, fostering a spirit of collaboration. This sets it apart from the often divisive and restrictive social media landscape.
At Markethive, your experience is our top priority. That's why we're recognized for our evolutionary and innovative ethos. We consistently broaden our decentralized, all-encompassing platform, creating a distinctive news feed interface that fully captures the user's experience.
We operate as an Inbound Marketing platform similar to Marketo and Paragon. The platform is comparable to popular platforms such as YouTube, Instagram, LinkedIn, and Twitter. However, we aim to surpass these traditional Web 2.0 media platforms with the upcoming release of Markethive 2.0, which includes various new features and an improved layout.
In contrast to traditional social media platforms, which rely on a single, primary news feed algorithmically set by the central authorities, Markethive's innovative approach will incorporate four distinct news feeds tailored to support the diverse range of features and functions within the Markethive ecosystem.
Markethive's feeds, including the Conglomerate or general newsfeed, video content, blogging, and curated content, are all about putting you in control. With advanced algorithms, you can tailor these feeds to your preferences, giving you the power to shape your Markethive experience. Markethive's reach is vast, as it consolidates the various features of other platforms into a single, unified system. Read More
NFT Community ARC Set to Launch Crypto Incubator with $4.5 Million Raise
A members-only NFT platform is spinning up a program to foster up-and-coming Web3 projects.
In a bid to create a blockchain version of the popular Y Combinator framework, ARC—an NFT-gated community of over 850 members—raised $4.5 million, the group announced on Tuesday.
“We spent over two years curating a global powerhouse of connections, expertise, developers, creators, and influencers to create a comprehensive ecosystem that helps ambitious Web2 brands and Web3 projects in Asia succeed,” ARC CEO and cofounder Elroy Cheo said in a statement.
Pitched as the “Y Combinator of the Web3 world,” the Singapore-based ARC said it will use the same model for project incubation, go-to-market capabilities, and funding.
Y Combinator is a long-running San Francisco-based startup accelerator that provides funding, mentorship, and resources to early-stage companies. Y Combinator helped launch companies like Dropbox, Airbnb, and Stripe. OpenAI’s Sam Altman was President of Y Combinator from 2014 to 2019. Read More
Bank of Ghana Unveils Proposed Virtual Asset Regulations
The Bank of Ghana (BOG) recently unveiled draft regulations to create a digital asset regulatory framework. Released Aug. 16, the rules aim to foster financial inclusion while protecting cryptocurrency users. The central bank’s decision followed a comprehensive analysis of digital assets like bitcoin (BTC) and the USDT stablecoin.
The analysis found that Ghana’s tech-savvy population is increasingly using digital assets, driven by widespread internet access and the rise of virtual asset service providers (VASPs). While crypto use remains low compared to traditional finance, the BOG identified its role in cross-border payments and remittances as necessitating regulation.
These regulations seek to address money laundering, fraud, and cybersecurity threats while complying with international standards.
A report in the Graphic Business said the regulations primarily focus on overseeing cryptocurrency exchanges and VASPs. Under the proposed laws, these entities must register with either the central bank or the Ghanaian Securities and Exchange Commission (SEC). Exchanges would also report suspicious transactions to the Financial Intelligence Center. Read More
Malicious ‘bull checker’ Chrome extension found targeting Solana users
Decentralized exchange aggregator Jupiter has alerted users of a malicious browser extension that managed to sneak through Solana’s drainer checks.
Decentralized exchange aggregator Jupiter says it has identified a new malicious browser extension. The extension has already drained the wallets of several Solana users and can even sneak past detectors.
In an Aug. 20 research post, pseudonymous Jupiter founder Meow said “Bull Checker” — a nefarious Google Chrome browser extension — had been targeting Solana users on Reddit, advertising itself as an extension to view all the holders of specific memecoins.
“If you have this extension (or similar extensions with extensive permissions you cannot trust), please remove it immediately,” wrote Jupiter in an Aug. 19 X post.
Meow said the extension was able to pass Solana simulation checks and “appear normal” but was actually a drainer designed to steal funds from users’ wallets.
“After installing Bull Checker, it will wait till a user interacts with a regular DApp [decentralized application] on the official domain, before modifying the transaction sent to the wallet to sign. After modification, the simulation result will still be ‘normal’ and not appear to be a drainer,” explained Meow. Read More
China Classifies Crypto Transactions as Money Laundering in Update to AML Law
The measures, expected to take effect on Tuesday, are part of broader efforts aimed at tightening anti-money laundering laws in China.
On Monday, Chinese authorities explicitly recognized “virtual asset” transactions as a method of money laundering, marking the first instance in the country that such a move has been made towards the asset class.
The Supreme People’s Court and the Supreme People’s Procuratorate, the country’s highest judicial bodies, jointly announced the changes during a press conference.
The measures, expected to take effect on Tuesday, are part of broader efforts aimed at tightening anti-money laundering laws, including specifically targeting the use of crypto in illicit financial activities.
The new legal interpretation classifies virtual asset transactions, including those conducted through crypto exchanges, as acts that "cover up and conceal the source and nature of the proceeds of crime.” 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
