SLP Trading Platform Cryptophyl Plans to Change Into a Noncustodial Defi Exchange

The U.K.-based Simple Ledger Protocol (SLP) exchange Cryptophyl is closing its doors in order to restructure into a decentralized finance (defi) platform. Cryptophyl has revealed the trading platform will officially go offline on September 21 and is asking customers to withdraw before that period. Just recently the SLP token trading platform Cryptophyl has revealed it will be shutting down in the near future. The website will be taken offline by September 21, 2020, which gives customers ten days to remove funds off the exchange. Maintaining Cryptophyl has been difficult the…

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A DeFi bull run might take $400 Ethereum options traders by surprise

Ether (ETH) price gained 14% from its Sept. 6 low at $320, but this month’s futures and options expiry is less than two weeks away. As its price is still pinned below $400, this raises the question of exactly how confident are derivatives traders of a 9% recovery to $400? By analyzing options model pricing, investors can easily conclude that traders are pricing in the 34% odds of Ether reaching $400 or higher. Still, the Black & Scholes options model main issue is heavily dependent on the number of days…

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A Gov official in South Korea proposed the nation’s first blockchain voting platform

On September 11, the head of the Seocho regional government proposed a blockchain-powered voting platform for residents, and praised the recent influx of crypto-related developments across the country. According to UpDown Korea, Cho Eun-hee, who is the local government leader of one of Seoul’s most affluent districts, believes that it is the “right time” to start using blockchain technology, “so any citizen can easily propose their opinions.” The official from Seocho called on the country to take on a greater role in our “rapidly changing modern society” in the wake…

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Judge Dismisses $200M Damages Claim in SIM-Swap Crypto Lawsuit Against AT&T

A California judge has dismissed the $200 million in damages claim against the telecom giant AT&T for alleged negligence and fraud. The judge still ruled the telecom company had to answer the lawsuit by Michael Terpin for enabling the theft of $24 million worth of his cryptocurrency after a company agent gave his sim card to hackers. Terpin filed the lawsuit in 2019. According to a report, Terpin accused the telecoms giant of “allowing hackers to swap his SIM card, in what appears to be an elaborate scheme by fraudsters.”…

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Ethereum 2.0 is coming, unlikely to speed up enterprise DeFi adoption

Many members of the blockchain community have been anxiously awaiting the arrival of Ethereum 2.0, the major upgrade to the Ethereum blockchain set to be released in multiple phases. Phase 0 is the first expected release on the Ethereum 2.0 roadmap, scheduled to launch this year. While speculation around the exact release date remains, Ethereum co-founder and founder of software company ConsenSys, Joseph Lubin, revealed in a recent interview on the Baseline Protocol YouTube channel that Ethereum 2.0 will indeed arrive soon: “Ethereum 2.0 is coming. We are now in…

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Russia’s crypto law is a mixed bag, according to industry execs

Russia’s new cryptocurrency-related law, “On Digital Financial Assets,” or DFA, seems to have had little impact on the local cryptocurrency industry so far. In its current form, the DFA law essentially provides legal status to digital assets like Bitcoin (BTC), but prohibits their use for payments in Russia. As the DFA law is poised to be officially adopted in less than four months, Cointelegraph talked to major crypto firms operating in Russia to get their take on how the new law can impact their business.  Based on comments from executives…

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European Crypto Exchange Hacked for $5.4 Million in Bitcoin

Eterbase, a Slovak cryptocurrency exchange, revealed Thursday that it had been hacked for $5.4 million. Cyber-criminals broke into six hot wallets containing bitcoin, ethereum, algo, ripple, tezos, and tron, stealing everything, it said. Hot wallets are active digital asset accounts connected to the internet. Eterbase used these wallets to facilitate day-to-day trading activities on its platform. However, hot wallets tend to be susceptible to hacks on account of their being connected to the internet. “Law enforcement authorities have been informed and we will assist as much as we can in…

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ERC-20 market cap differential over Ethereum hits all-time high

Ethereum’s economic metrics are strengthening as transfer value and ERC-20 market capitalization continue to build momentum. Research by on-chain analytics platform Santiment has revealed that the market capitalization for all ERC-20 based tokens has flipped that of Ethereum itself. It added that it is currently the all-time highest market cap differential of ERC-20 coins over Ethereum. The total market cap for all current ERC-20 assets is $46.7 billion whereas that for Ethereum is currently just over $41 billion at the time of writing. There have been a couple of similar,…

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Community-Funded Bitcoin Awareness Campaign Unveiled in Hong Kong – Bitcoin Magazine

Since 2012, the Bitcoin Association of Hong Kong has been one of the strongest local communities focused on Bitcoin, boasting a current membership of over 5,000 people. During the month of September, the organization will be using donations to buy advertising space that feature informative statements highlighting “the risks and merits of Bitcoin”.  “The goal is mainly to kickstart a conversation around the merits of Bitcoin, especially in the context of the ongoing economic challenges,” explained Leo Weese, co-founder of the Bitcoin Association of Hong Kong. “I think the beauty…

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