🚀 Near Protocol Co-Founder Joins Ringfence As Advisor

According to Odaily, Ringfence announced on Platform X that Illia Polosukhin, co-founder of Near Protocol, has been appointed as an advisor to the company. Ringfence will also collaborate with NEAR.AI, with both parties committed to enabling users to control their data and determine how AI utilizes this information.

Illia Polosukhin, known for his extensive expertise in blockchain and artificial intelligence, co-authored the groundbreaking paper 'Attention is All You Need.' This collaboration aims to leverage Polosukhin's knowledge to advance Ringfence's mission of data sovereignty and responsible AI usage.

#NearProtocol #Ringfence #IlliaPolosukhin #AI #DataSovereignty #Blockchain #NEARAI #ResponsibleAI

🚀 Brazil Central Bank Selects Participants For Second Phase Of Digital Currency Pilot

According to CoinDesk, Brazil's central bank (BCB) has announced the selection of 13 participants for the second phase of its central bank digital currency (CBDC) pilot, known as Real Digital. The BCB will oversee 11 projects, while the local Securities and Exchange Commission (CVM) will supervise two. This phase, called Drex, received 42 proposals, the bank stated in a recent announcement.

In this second phase, the infrastructure created for the pilot will test the implementation of financial services through smart contracts managed by third-party participants. Among the selected projects, Visa will collaborate with Brazilian brokerage XP and digital bank Nubank to optimize the foreign exchange market. Spanish banking giant Santander will work on projects involving automobile operations and lending and decarbonization.

Other notable local financial entities participating in this phase include Bradesco, Itaú Unibanco, and the local stock exchange B3. The BCB also mentioned that it plans to open a new call for firms interested in participating in the Drex pilot in the third quarter of 2024. The goal is to test the implementation of smart contracts by the end of the first half of 2025.

In May 2023, the BCB had selected 14 participants for the first phase of the Real Digital pilot.

#Brazil #CentralBank #DigitalCurrency #CBDC #RealDigital #Pilot #SmartContracts #Visa #Nubank #XP #Santander #Bradesco #ItaúUnibanco #StockExchange #B3 #Drex #FinancialServices #Decarbonization #ForeignExchange #2024 #2025

🚀 Telegram Founder Pavel Durov Addresses Arrest In France

According to Cointelegraph, Telegram founder Pavel Durov has spoken publicly for the first time since his arrest in France in August. Durov expressed surprise over the arrest, noting that Telegram has a legal representative in France to handle regulatory requests and inquiries. As a French citizen, he mentioned that authorities had multiple ways to contact him without involving law enforcement, highlighting his regular visits to the French Consulate in Dubai.

Durov emphasized that Telegram is committed to its mission of free speech and expression. He stated that the company is willing to exit markets that do not align with its principles, asserting that their motivation is not financial but driven by the desire to uphold basic human rights, especially in regions where these rights are under threat.

This is an ongoing story, and more details will be provided as they emerge.

#Telegram #PavelDurov #Arrest #France #FreeSpeech #HumanRights #RegulatoryCompliance #ExpressYourself

🚀 Celestia Unveils Roadmap To Scale Block Size To 1 Gigabyte

According to Cointelegraph, Celestia, a layer-1 data availability network, has released a technical roadmap aimed at scaling its block size to 1 gigabyte. The announcement, made in a Sept. 5 blog post, outlines the network's goal to significantly increase data throughput within its rollup ecosystem. Blocks, which are bundles of transaction data on the blockchain, are central to this initiative.

Celestia's focus on expanding block size is part of a broader industry effort to enhance blockchain scalability, reduce transaction costs, and improve data storage and retrieval efficiency. The network competes with other protocols like EigenDA, Avail, and Ethereum's mainnet. With 1 gigabyte blocks, Celestia claims it will surpass Visa's transaction processing capacity, which stands at approximately 24,000 transactions per second (TPS). This advancement could enable new onchain applications, such as verifiable web apps and fully-onchain gaming, which were previously considered unfeasible.

On the same day, EigenDA announced a partnership with cloud platform Conduit to temporarily increase its block size from 2 megabytes to 16 megabytes. This move aims to reduce operating costs for layer-2 scaling chains by eightfold. Additionally, Ethereum's Dencun upgrade in March introduced 'blobs,' temporary offchain data stores designed to lower costs for layer-2 scaling networks like Arbitrum and Base by avoiding the need to post large volumes of data directly onchain.

Since May, Celestia has been gaining market share from Ethereum, rising from around 20% to approximately 40% as of July 31. Unlike Ethereum, Celestia is not limited by execution layer overhead or state bloat, allowing it to scale throughput beyond current monolithic constraints. Despite these advancements, Ethereum is expected to remain the dominant settlement layer in Web3 due to its decentralization, stablecoins, and total value locked (TVL), according to Blockworks' data analytics manager, Dan Smith.

#Celestia #blockchain #scalability #blocksize #1gigabyte #dataavailability #transactions #Ethereum #layer1 #onchain #webapps #gaming #EigenDA #cloudplatform #Dencun #arbitrum #Base #Web3 #DeFi #crypto #TIA

🚀 Telegram Founder Suggests Legal Actions Against Platforms, Not CEOs

According to BlockBeats, on September 6, Telegram founder Pavel Durov stated that if a country has grievances against platforms like Telegram, it should sue the service platform itself rather than its CEO.

#Telegram #PavelDurov #LegalActions #Platforms #CEO #BlockBeats

🚀 Investors Continue To Inject Cash Into US Money Market Funds

According to BlockBeats, investors have injected cash into US money market funds for the fifth consecutive week, signaling strong demand ahead of a potential interest rate cut by the Federal Reserve. Data from the Investment Company Institute shows that approximately $37 billion flowed into US money market funds in the week ending September 4, bringing the recent inflows to around $165 billion. Total assets rose from $6.26 trillion the previous week to a record $6.3 trillion.

Despite the strong demand, there is growing debate about whether money market funds will remain attractive once US policymakers begin to lower interest rates. It is widely expected that the Federal Reserve will cut rates later this month. The high returns driven by elevated interest rates have significantly boosted the size of US money market funds.

#Investors #MoneyMarketFunds #InterestRates #FederalReserve #CashInflows #FinancialMarket #USEconomy

🚀 Fed's Goolsbee Indicates Multiple Rate Cuts Supported by Economic Data

According to Odaily, Federal Reserve official Austan Goolsbee has stated that recent economic data supports the possibility of multiple interest rate cuts. Goolsbee also noted an increase in warning signals related to the labor market.

#Fed #interestRates #rateCuts #AustanGoolsbee #economy #laborMarket

🚀 Venezuelan Opposition Leader Proposes Bitcoin As National Reserve Asset

According to Odaily, Venezuelan opposition leader María Corina Machado has proposed the use of Bitcoin as a national reserve asset. This suggestion was made public through a post on the X platform by Bitcoin Magazine. Machado's proposal aims to leverage the decentralized nature and potential stability of Bitcoin to bolster the country's financial reserves.

#Venezuela #Bitcoin #NationalReserve #MaríaCorinaMachado #Cryptocurrency #Decentralization #FinancialStability #BTC

🚀 Whale Trader Increases ETH Holdings Through Strategic Trades

According to BlockBeats, on September 6, an on-chain analyst named Yu Jin reported that a significant whale trader recently executed a series of strategic trades, resulting in an increase in their Ethereum (ETH) holdings. Approximately 20 minutes prior to the report, the whale used 12.23 million USDT to purchase 5,153 ETH. Initially, the whale had 3,586 ETH, which has now grown to 5,574 ETH through three rounds of trading.

The first trade involved selling 3,586 ETH at $3,667 each, converting them into 13.15 million USDT. The whale then repurchased 5,236 ETH at $2,512 each, resulting in an increase of 1,650 ETH. In the second trade, the whale sold 4,818 ETH at $2,514 each, converting them into 12.11 million USDT. They then bought back 5,093 ETH at $2,378 each, gaining an additional 275 ETH. The final trade saw the whale selling 5,093 ETH at $2,402 each, converting them into 12.23 million USDT. They subsequently repurchased 5,153 ETH at $2,375 each, adding 60 more ETH to their holdings.

These strategic trades demonstrate the whale's ability to capitalize on market fluctuations, significantly increasing their ETH holdings through calculated buying and selling. The whale's actions highlight the potential for substantial gains through well-timed trades in the cryptocurrency market.

#WhaleTrader #ETH #Ethereum #CryptoTrading #Investing #MarketFluctuations #Blockchain #StrategicTrades

🚀 Bitcoin(BTC) Drops Below 56,000 USDT with a 3.69% Decrease in 24 Hours

On Sep 06, 2024, 00:51 AM(UTC). According to Binance Market Data, Bitcoin has dropped below 56,000 USDT and is now trading at 55,996 USDT, with a narrowed 3.69% decrease in 24 hours.

#Bitcoin #BTC #cryptocurrency #USDT #Binance #marketdata #trading #decrease

🚀 Magic Eden Launches New Websites For International And US Users

According to BlockBeats, on September 6, Magic Eden announced the launch of a new website, magiceden.io, aimed at international users. Simultaneously, the company introduced magiceden.us for users in the United States.

The .US site will continue to offer the products that users are familiar with and love, while the .IO site will enable the platform to develop and quickly roll out more features.

#MagicEden #launch #internationalusers #USusers #blockchain #crypto #NFT

🚀 Fuel Network's Discord Compromised, Users Warned of Phishing Links

According to Foresight News, the modular network Fuel has announced via Twitter that its official Discord server has been compromised. The project team is actively working to resolve the issue and has urged users to ensure the safety of their funds by avoiding phishing links.

Foresight News also advises users to refrain from connecting to phishing websites to prevent potential asset losses. The team is taking necessary measures to address the security breach and restore the integrity of their Discord server. Users are encouraged to stay vigilant and follow official updates for further information.

#FuelNetwork #DiscordCompromise #PhishingWarning #SecurityBreach #StayVigilant #CryptoSafety

🚀 Fed Officials to Speak Before Pre-Meeting Silence Period

According to Odaily, Friday marks the last day before the Federal Reserve officials enter their pre-meeting silence period. Federal Reserve's Williams and Governor Waller are scheduled to speak after the release of the employment report, providing the final opportunity to set expectations for the upcoming meeting. With economic growth and inflation slowing, adjusting the interest rate from the current 5.3% to around 4.5% seems more reasonable. If there are no signs that July's weak employment will continue into August, some Fed officials may resist a significant rate cut of 50 basis points. However, officials who were open to a rate cut at the July meeting might support a 50 basis point cut in September if the unemployment rate rises again and job growth further slows.

#FederalReserve #InterestRates #EmploymentReport #EconomicGrowth #Inflation #RateCut #PreMeetingSilence #JobGrowth #UnemploymentRate

🚀 Telegram Updates FAQ, Removes Privacy Assurance Statement

According to Odaily, Telegram has quietly updated its Frequently Asked Questions (FAQ) section, removing a statement that previously assured users of the privacy of all chats and group conversations. The deleted statement read, 'All Telegram chats and group chats are private conversations between participants. We do not process any requests related to them.' This change was highlighted by @tier10k on the X platform.

#Telegram #Privacy #FAQ #Updates #Messaging

🚀 DeFi And Social dApps See Significant Growth In August

According to Odaily, a report from DappRadar reveals that the number of daily unique active wallets (dUAW) for DeFi and social decentralized applications (dApps) saw a significant increase in August. The average dUAW across the entire dApp industry reached a record 17 million, marking a 9% rise from the previous month.

Decentralized exchanges Raydium and Uniswap v2 were among the most active applications in the blockchain sector during August, with 18.8 million and 4.8 million monthly unique active wallets, respectively. This made them the second and fourth most active applications in the blockchain space for the month.

Social dApps accounted for 23% of the industry, with 3.9 million dUAW in August, coming in just behind gaming applications, which held a 24% share.

#DeFi #dApps #blockchain #uniqueactivewallets #Raydium #Uniswap #socialdApps #gamingapplications #Augustgrowth #RAY

🚀 Penpie Attackers Transfer 9600 ETH to Tornado Cash

According to Odaily, CertiK Alert has reported that the attackers behind the Penpie incident have transferred 9600 ETH, equivalent to approximately $23 million, to Tornado Cash through multiple addresses.

#Penpie #ETH #TornadoCash #CertiK #Cryptocurrency #Hacking #Blockchain

🚀 Telegram Expands Moderation To Private Chats Amid Legal Scrutiny

According to CoinDesk, Telegram has significantly changed its approach to moderating illegal content on its platform following the arrest of CEO Pavel Durov in France. Durov was detained for allegedly failing to control law-breaking activities on the messaging app. In response, Telegram has extended its moderation capabilities to include private chats, allowing users to flag illegal content for review. This marks a departure from the app's previous policy, which treated private groups as off-limits for moderation.

The policy shift, quietly updated on Telegram's FAQ page, could alter the app's reputation as a haven for illegal activities, a claim made by French authorities. Last month, Durov was arrested in France for allegedly permitting criminal activities to proliferate on the platform. Although Durov has dismissed the charges as baseless, he is required to stay in France until his trial.

In a Telegram post earlier on Thursday, Durov acknowledged that the app's rapid growth had inadvertently made it easier for criminals to exploit the platform. He assured users that changes would be implemented to prevent such abuses. Durov emphasized his commitment to safeguarding the platform for its over 950 million users, stating that he is still trying to understand the situation in France but is attentive to the concerns raised.

#Telegram #Moderation #PrivateChats #IllegalContent #PavelDurov #LegalScrutiny #UserSafety #MessagingApp #PlatformChanges #CriminalActivities

🚀 Global Affairs Head Nick Pickles to Depart Social Media Platform X

According to Odaily, market sources have reported that Nick Pickles, the Global Affairs Head of the social media platform 'X,' is set to leave his position. This development marks a significant change in the leadership of the platform, which has been navigating various challenges in the social media landscape. Further details about Pickles' departure and the potential impact on the company are yet to be disclosed.

#NickPickles #SocialMedia #LeadershipChange #PlatformX #GlobalAffairs #Departure

🚀 US Non-Farm Payroll Data Crucial for Citibank and JPMorgan's Rate Cut Predictions

According to Odaily, the upcoming release of the US non-farm payroll data on Friday will be a significant test for Citibank and JPMorgan, who have boldly predicted a 50 basis point rate cut in September. For over a year, foreign exchange traders have not been this excited ahead of the US employment report. On the eve of the crucial non-farm payroll data release, options used to measure the dollar's exchange rate against major trading partners have reached their highest level since March 2023. Risk reversal data indicates a bearish sentiment towards the dollar. Since the weaker-than-expected July non-farm payroll data was released on August 2, Citibank and JPMorgan have been forecasting that the Federal Reserve will cut rates by 50 basis points in both September and November, and by 25 basis points in December. Interest rate swap contracts show that there is approximately a 35% chance of a significant 50 basis point rate cut at the Federal Reserve's September 17-18 meeting, although traders and economists believe a 25 basis point cut is more likely.

#NonFarmPayroll #Citibank #JPMorgan #RateCut #USDollar #InterestRates #FederalReserve #EconomicForecast #ForexTraders #MarketSentiment

🚀 Ethereum(ETH) Surpasses 2,400 USDT with a Narrowed 1.92% Decrease in 24 Hours

On Sep 06, 2024, 02:10 AM(UTC). According to Binance Market Data, Ethereum has crossed the 2,400 USDT benchmark and is now trading at 2,402.189941 USDT, with a narrowed narrowed 1.92% decrease in 24 hours.

#Ethereum #ETH #USDT #cryptocurrency #Binance #marketdata #trading