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27 September 2020

DeFi carnage, Chef Nomi’s admission, $625K prize for cracking Monero: Hodler’s Digest, Sept. 7–13

DeFi carnage, Chef Nomi’s admission, $625K prize for cracking Monero: Hodler’s Digest, Sept. 7–13


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It was an industry that looked like it was overheating for some time, and finally, at least for a short while, it appeared that the DeFi bubble had well and truly burst.

The SUSHI token sold off almost immediately, with people losing confidence in the project’s viability.It was so swift that it torpedoed the entire crypto industry, taking the rest of DeFi and even Ether and Bitcoin down with it.

Chef Nomi later insisted to Cointelegraph that they did not pull an exit scam, and in a surprising turn of events, they later apologized and returned the cash to the project’s development fund.

They has now said he will let the community decide how much they deserves as the original creator of SushiSwap, adding that they would like to continue helping develop the project’s tech from behind the scenes.Whether the community will accept this offer remains to be seen.

He wrote that the market movements we are seeing now are very similar to what was seen the year before Bitcoin headed to all-time highs of $20,000.

Overall, van de Poppe said that the total market capitalization of cryptocurrencies “is showing a healthy correction in an upward trending market.”.

And he predicted:“If the total market capitalization holds the $270 billion to $275 billion areas for support, further continuation upward is likely.

They will then be able to use this grant to develop their prototype into a working concept over eight months.Once the pilot test is completed and approved by the government, a further $125,000 grant will be awarded.

It doesn’t take a rocket scientist to figure out why the IRS is so keen to crack Monero.Criminal organizations much prefer XMR to more traceable crypto assets such as Bitcoin, and it’s increasingly being used by ransomware groups.

The total market cap is at$339,174,021.634.

The U.S.-based cryptocurrency exchange Kraken has predicted that September will bring excessively negative returns for Bitcoin.

Kraken said a record share of BTC’s supply has not moved in more than 12 months, and “historically, this dynamic has foreshadowed a new bull market.”.

and Europe that it’s got what it takes to launch a private currency in a way that wouldn’t destabilize the global economy

Villeroy de Galhau also stressed that the European Central Bank can’t afford to “lag behind on a CBDC.” This could serve as a hint that we may see some more movement from the eurozone fairly soon

With regulators unlikely to change old-fashioned rules in favor of the emerging market, DeFi might be burdened under fraud and new portions of restrictions, writes Oleksii Konashevych

Ethereum 2.0 is coming this year, and while enterprises won’t use it immediately, Rachel Wolfson says the rise of DeFi will play a significant role for organizations

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cointelegraph.com
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