- 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.