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Friday, August 11, 2023

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Binance Labs, the venture arm of cryptocurrency exchange Binance, has allocated $5 million to invest in Curve (CRV).

Curve has committed to deploying its platform on the BNB Smart Chain in return for this investment. This decision comes on the heels of a recent exploit on July 30th, where Curve experienced a significant loss of $73.5 million from its stable pools due to a reentrancy vulnerability in its underlying programming language, Vyper.

In today's news, we have Bittrex agreeing to a settlement, Coinbase Ventures investing in Rocket Pool, and PancakeSwap launching on Arbitrum.

Read on!

Market Share of Decentralized Cryptocurrency Exchanges

Uniswap continued to dominate the decentralized cryptocurrency scene in 2023 Q2 with 64.6% of market share in June 2023. However, as trading volume fell across exchanges, Uniswap became the largest contributor to the contraction of DEX volume between 2023 Q1 and Q2.

How did other DEX's perform in this choppy market?

Read more to find out!

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Stacks is one of the most notable Bitcoin smart contract platforms :fire: Watch this video to learn its background, how it works, and more:

Let's find out here!

Fueling The Rocket

Coinbase Ventures has made a strategic investment in Rocket Pool by purchasing an undisclosed amount of RPL tokens.

Furthermore, Coinbase Ventures is actively involved in Rocket Pool's Oracle DAO and operates "several hundred" Rocket Pool nodes utilizing corporate ETH.

The Block

Pancakes Everywhere!

PancakeSwap, a decentralized exchange (DEX) known for its popularity on the Binance Smart Chain, has expanded its reach by deploying on the Ethereum scaling network Arbitrum.

This deployment onto Arbitrum is expected to bring reduced fees and quicker transaction speeds for PancakeSwap users. Presently, users can engage in trading with remarkably low fees, starting at just 0.01%, which ranks among the lowest fee structures among decentralized exchanges (DEXs).Users can currently trade with fees of as low as 0.01%, one of the lowest among DEXs.

CoinDesk

Settlement

Crypto Exchange Bittrex has agreed to a settlement of $24 million regarding the SEC lawsuit without admitting to or denying the allegations.

The SEC had filed a lawsuit against Bittrex and its former CEO William Shihara in April, accusing the Seattle-based exchange of not registering as a broker-dealer, exchange, or clearing agency. The regulator claimed that Bittrex generated around $1.3 billion in illicit revenue from 2017 to 2022.

Decrypt