The founders of the troubled cryptocurrency lender Hodlnaut are trying to save the business despite creditors insisting on its liquidation. On Feb. 28, Hodlnaut’s interim judicial managers released the sixth affidavit of Hodlnaut co-founder Simon Lee reportedly stating the company’s founders proposed selling the business as a better option for creditors than liquidating the firm. According to a report by Bloomberg, Lee said that he and Hodlnaut’s other co-founder Zhu Juntao have reached out to a number of “potential white knight investors.” Lee reportedly wrote that Hodlnaut co-founders are confident the company’s user base “can be acquired and on-boarded on …

Crypto ATMs — one of the key infrastructure pillars for the mass adoption of cryptocurrencies — have seen a drastic reduction this year. In the first two months of 2023, the net cryptocurrency ATMs installed globally reduced by 412 machines. Since 2014, the total number of crypto ATMs maintained a steady upward trajectory while catering to millions of users worldwide for seamless crypto-fiat conversions. For ov a year, between December 2020 to January 2022, more than 1000 crypto and Bitcoin (BTC) ATMs were being installed every month. However, the bear market had an immediate impact on its growth. September 2022 …

Bitcoin (BTC) millionaires are made when the BTC price crosses $20,000, data reveals. According to on-chain analytics firm Glassnode, there are currently over 67,000 BTC wallets worth $1 million or more. $20,000 makes 50-BTC hodlers happy Bitcoin is famous for its relationship with the $20,000 price tag. Prominent since becoming the all-time high of Bitcoin’s previous halving cycle, $20,000 is more than just a technical and psychological line in the sand. As Glassnode now shows, when BTC/USD crosses that price point, a large number of hodlers either gain or lose U.S. dollar millionaire status. In late 2022, for example, when …

Jack Dorsey, co-founder of the online microblogging service Twitter, is progressing with Bluesky, a decentralized Twitter alternative, as its mobile application is now being tested in private beta. Bluesky has hit the App Store as an invite-only app, allowing certain persons to try out the new social experience by creating an account via an invite code. According to a report by TechCrunch, the Bluesky iOS app debuted on Feb. 17 and has amassed about 2,000 installs as of Feb. 28. The app is reportedly not yet available for Android testers on Google Play. As one can see on Bluesky’s App …

Decentralized finance (DeFi) protocol Platypus Finance has created a portal that enables users to view how much the platform owes them following the recent $9.1 million exploit that the platform suffered. On Feb. 16, the DeFi protocol suffered a flash loan attack, pushing the Platypus USD stablecoin to break its peg with the U.S. dollar. At the time, Platypus confirmed a loss of around $8.5 million from its main pool. The firm also said that they have contacted the hacker to negotiate a bounty. A post-mortem report from Platypus auditor Omniscia said that the attack was possible because of code …

The Solana network experienced a noticeable slowdown in block production after its most recent 1.14 network update on Feb. 25, as it went into reset mode. As an immediate response to transaction disruptions, validators downgraded the software to up performance levels. However, on Feb. 28, Anatoly Yakovenko, the founder and CEO of Solana Labs, released another statement as to how the ecosystem plans to improve its recent network upgrades. The major focus of the plan is on stability as the network continues its transition. 2022 priorities were shipping new features and new tools. 2023 is stability. Tldr 1/3 of core …

Interoperability remains a persistent issue in the world of gazillion blockchains and interesting protocols and projects. The need for interoperability leads to many practical problems, one of which comes down to token liquidity and crypto swapping between blockchains. Bridges are vulnerable Moving tokens from one blockchain to another has become a crucial part of the DeFi sector. It allows users to use these tokens on different chains than their native ecosystem. However, most blockchains are closed systems and thus aren’t directly compatible with each other. The problem can be compared to using a European power plug in the United States …

A cryptocurrency researcher and former CIA analyst believes the United States government’s relatively slow start on Central Bank Digital Currency (CBDC) development may result in it losing grip on controlling the global financial system. Yaya Fanusie, the policy head at the crypto advocacy group the Crypto Council for Innovation explained in a Feb. 28 Bloomberg interview that sanctioned states are looking to transact on financial infrastructure that isn’t controlled or heavily influenced by the U.S. in order to move funds more freely cross-borders. If the U.S. continues to sit on the “sidelines” and lag behind on CBDC adoption, Fanusie believes …

Video game development platform Unity has added a slew of crypto platforms to its asset store aimed at assisting developers interested in Web3 technology to streamline decentralization efforts. Unity said on Feb. 28 it had released a new “Decentralization” category page in its asset store with “vetted” crypto platforms to support developers interested in merging decentralization into their projects. Crypto wallet provider MetaMask was one of the 13 platforms featured on the store, with its Software Development Kit (SDK) added to help developers enable users to connect their MetaMask wallet to "any game developed on Unity.” It has come The …

Goldman Sachs’ digital assets unit is reportedly open to bolstering its 70-strong team, despite a massive cost-cutting exercise at the firm last month that will see 3,200 employees clear their desks. Mathew McDermott, Global Head of Digital Assets for Goldman Sachs said the bank remains “hugely supportive” of exploring blockchain applications and that the digital asset division will hire “as appropriate” this year. The executive made the comments in Hong Kong to Bloomberg last week, noting that the digital assets team has grown from just four staff members in 2020 to around 70 today. The firm’s supposed openness to beef …

A move by Binance US to acquire assets belonging to the bankrupt crypto lending firm Voyager Digital has been favored by 97% of Voyager’s customers. A Feb. 28 court filing shows an overwhelming majority of Voyager Digital account holders are in favor of the buyout from the United States-based arm of the crypto exchange Binance. Bankruptcy management firm Stretto conducted the balloting of Voyager customers which polled 61,300 account holders with claims against the embattled crypto lender. Of that total, 59,183 voted in favor of the Binance US restructuring plan with just 3%, or 2,117 voters rejecting it. The voters …

The creation of a United States digital dollar would “crowd out” the cryptocurrency ecosystem and protect the national security of the U.S. according to a former top advisor in president Joe Biden’s administration. Daleep Singh — a former Deputy National Security Advisor for International Economics in the Biden administration — made the comments at a Feb. 28 Senate Banking Committee hearing, suggesting that cryptocurrencies facilitate ransomware attacks and contribute to the evasion of U.S. sanctions. Singh believes the U.S. government embracing a Central Bank Digital Currency (CBDC) “is the single best step that we could take [to protect national interests] …