But partnerships and business aside, the technological capacities of the network, especially when compared to Ethereum, are also attracting the attention of many blockchain developers. In an exclusive interview with Cointelegraph, Polygon co-founder Sandeep Nailwal talked about the extent of the network’s adoption.Continue Reading on Coin Telegraph More
As crypto philanthropy becomes a new subsector of the cryptocurrency economy, some in the industry believe that crypto donations will only continue to increase. Alex Wilson, co-founder of The Giving Block, told Cointelegraph that last year the organization raised about $4 million in crypto donations, noting that this year, over $100 million in crypto donations will likely be received.Continue Reading on Coin Telegraph More
The statement from the People’s Bank of China (PBOC), made following its fourth-quarter monetary policy committee meeting, is the latest sign that Chinese regulators are marginally easing curbs on the property sector to prevent a hard-landing.Echoing China’s annual Central Economic Work Conference held in early December, the PBOC said it will prioritise economic stability, amid an increasingly severe external environment and the unrelenting global pandemic. The PBOC said it will keep its monetary policy flexible and appropriate, and liquidity reasonably ample. It will strengthen support to the real economy, with a bias toward small companies.The central bank reiterated that it will deepen reforms of the forex market and increase the flexibility of the yuan’s exchange rate while guiding companies and financial institutions to be “risk neutral”. More
CASE ALLEGATIONS: On or about July 30, 2021, Robinhood conducted its IPO, offering 55 million shares of its common stock to the public at a price of $38 per share for anticipated proceeds of over $2 billion.The Robinhood class action lawsuit alleges that the IPO’s offering documents were materially inaccurate, misleading, and/or incomplete because they failed to disclose that, at the time of the IPO, Robinhood’s revenue growth was experiencing a major reversal, with transaction-based revenues from cryptocurrency trading serving only as a short-term, transitory injection, masking what was actually stagnating growth. In addition, Robinhood’s “significant investments” in enhancing the reliability and scalability of its platform were patently inadequate and/or defective, exposing Robinhood to worsening service-level disruptions and security breaches, particularly as Robinhood scaled its services to a larger user base.On October 26, 2021, Robinhood revealed that its total net revenue for the period between July 1, 2021 through September 30, 2021 – the same period during which Robinhood conducted its IPO – came in at $365 million, badly missing analyst estimates by nearly $73 million, and declines in its monthly active users (“MAUs”), funded accounts, assets under custody, and average revenue per user. Robinhood also disclosed that third-quarter transaction-based revenue from cryptocurrency trading, which in the lead up to the IPO had been the bulk of Robinhood’s revenues, was a measly $51 million, staggeringly below the $233 million Robinhood earned from crypto trading in the second quarter. On this news, Robinhood’s stock declined more than 10%.Then, on November 8, 2021, Robinhood disclosed that it had suffered a “data security incident” on November 3, 2021, admitting that an “unauthorized third party” had obtained email addresses for approximately five million users and the full names of a different group of about two million users, indicating that the attack potentially affected nearly 40% of Robinhood’s MAUs. What is more, Robinhood said the additional personal information of 310 other users, including their names, dates of birth, and zip codes, were exposed, and within that group, that 10 users suffered even “more extensive” breaches. On this news, Robinhood’s stock declined further.By the commencement of the Robinhood class action lawsuit, Robinhood’s shares traded as low as $17.08 per share, representing a decline of over 55% from the IPO price.THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits purchasers of Robinhood common stock pursuant and/or traceable to the IPO to seek appointment as lead plaintiff in the Robinhood class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the Robinhood class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the Robinhood class action lawsuit. An investor’s ability to share in any potential future recovery of the Robinhood class action lawsuit is not dependent upon serving as lead plaintiff.EMAIL NEWSLETTERJoin to get the flipside of cryptoUpgrade your inbox and get our DailyCoin editors’ picks 1x a week delivered straight to your inbox.[contact-form-7]
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According to Mirror, the attacker launched a public poll on Mirror’s official website, which proposes a freeze on the community pool in case of a scam. Continue Reading on Coin Telegraph More
Interfax said the drills were held in several regions near Ukraine, including in Crimea, which Russia annexed in 2014, as well as in the southern Russian regions of Rostov and Kuban. Russia’s deployment of tens of thousands of troops to the north, east and south of Ukraine had fuelled fears in Kyiv and Western capitals that Moscow was planning an attack. Russia denies any such plans, saying it needs pledges from the West – including a promise from NATO not to expand the alliance eastward towards Russian borders – because its own security is threatened by Ukraine’s growing ties with the Western alliance.Moscow also says that it can deploy its troops on its territory as it sees fit.Estimates for the number of Russian troops recently moved closer to Ukraine vary from 60,000 to 90,000, with one U.S. intelligence document suggesting that number could be ramped up as high as 175,000.”A stage of combat coordination of divisions, combat crews, squads at motorized units… has been completed. More than 10,000 military servicemen… will march to their permanent deployment from the territory of the combined arms’ area of drills,” Interfax quoted the army as saying. More
Besides its extensive Christmas campaign that’s giving away $120,000 in holiday presents, Phemex is also now distributing daily awards from a $200,000 pool to celebrate its 2nd anniversary with the Energy Crates campaign. These prizes come in the form of Energy Crates, which will contain goodies ranging from trading bonuses and contract discounts to themed merchandise and free premium memberships. You’ll definitely want to open these crates.The season of giving is upon us, and Phemex is giving out these crates for free! The Energy Crates event will last for three weeks starting December 24, so tell your friends and register now! Additionally, by sharing the event on social media, your chances of opening a winning crate increases – the more, the merrier.Users will be required to complete the platform’s KYC process before being eligible to claim and use the rewards. More details on how participants can complete KYC on the platform can be found at Phemex’s user guide on the topic.Though users can open up to three crates per day, not every crate guarantees a prize. However, participants who share the event on social media will enjoy increased chances of obtaining winning crates. Since the event runs for three whole weeks, this gives participants up to 63 free crates to open throughout the campaign.Prizes from opened crates will be listed on the landing page till January 13, 2022, when the event closes, but the awards will remain even after the event has ended. A total of $200,000 will be given away in prizes, with different crates containing different kinds of rewards.Of the various prizes that users can win, some are discounts on contract trading, which can be extremely useful for users who regularly trade crypto or USD-margined perpetual contracts. Phemex recently unveiled its inverse ETHUSD perpetual futures, so this would be an excellent time to check out that trading pair!Other crates contain trading bonuses, which give users an extra edge when playing the market for gains. Some lucky participants can even win access to Phemex’s premium membership, which is highly lucrative for day-traders since it grants zero-free trading on all spot market orders.Prizes will be distributed to users’ associated trading accounts. For example, contract discounts will be applied to users’ contract trading accounts, while spot trading bonuses will be applied to their spot accounts.Premium rewards can be activated via Phemex’s Premium Membership page, and only main accounts are eligible to participate. This also means the platform will disqualify users who create more than one account using multiple email addresses in the hopes of receiving multiple bonuses. Accounts deemed to be cheating will be banned from using the exchange.The cryptocurrency space has been advancing rapidly, attracting investors from all over the globe, especially in the last two years. However, considering how the industry is built on a foundation of a digitized economy, it’s even more important to keep bad actors at bay.Though fraudulent transactions can occur, the blockchain wasn’t designed to enable them. As hackers and scammers become better at using the technology for illicit activities, blockchain platforms must introduce better standards to keep user funds safe, and this is where KYC can help.Phemex has evolved remarkably in just two years, expanding its offerings from just three contract pairs to nearly 40 spot and contract trading pairs and amassing close to 2 million users worldwide. Today, the exchange ranks among the top 10 derivatives trading platforms globally and is fully compliant with regulatory requirements, including KYC and AML (Anti-Money Laundering) protocols.Continue reading on BTC Peers More
In an effort to counter the falling value of the Turkish lira, President Erdoğan shared plans to implement a new economic model while speaking at a press conference in Istanbul. As reported by local media NTV, Erdoğan said that the cryptocurrency bill is ready, adding:Continue Reading on Coin Telegraph More
