20 June

|

3:41 AM UTC
20 June

|

3:41 AM

CRYPTO NEWS – NOVEMBER 22, 2022

  1. ETH  falls as the FTX hacker dumps $74 million worth of the token

The price of Ethereum has dipped to roughly 1,100 at the time of this writing due to the FTX hacker. According to Etherscan data, the FTX attacker moved a total of 180,000 ETH – worth roughly $200 million at current prices – to 12 crypto wallets on Monday, with each wallet receiving 15,000 ETH over a period of minutes. 

According to some other sources, the attack was self-inflicted by FTX after the crypto exchange’s agreements failed in an attempt to recover and take over 600 million dollars after declaring bankruptcy.

2. Mobile-focused blockchain Celo partners with Ethereum

Celo, mobile-first blockchain, announced today a partnership with ConsenSys, an Ethereum software firm that helped engineer the Merge.

The partnership will allow Celo to make use of ConsenSys’ Infura infrastructure. Celo developers will be able to build with Infura, which will help make the blockchain more scalable. Developers will also be able to deploy Ethereum-based decentralized applications (Dapps) built with Truffle.

In addition, the partnership is intended to kick off Celo’s compatibility with MetaMask, a popular Ethereum-based wallet. 

3. Cardano to launch new algorithmic stablecoin in 2023

Proof-of-stake blockchain platform, Cardano, has partnered with COTI, a DAG-based Layer 1 protocol, to launch what it refers to as an over-collateralized algorithmic stablecoin. The project said in an announcement provided to Cointelegraph that the stablecoin will be backed by excess collateral in the form of cryptocurrency stored in a reserve.

Related news

Crypto News – January 5

Regulators Seize Millions in FTX Robinhood Shares In a Delaware bankruptcy court hearing, the US Justice Department announced that it had taken custody of $450

Crypto News – January 3

Gemini Co-Founder Accuses DCG’s Silbert of ‘Bad Faith’ in $900M Funds Stalling Dispute The co-founder of cryptocurrency exchange Gemini has accused Digital Currency Group CEO

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