Surging Interest in ‘Yam’ Yield Farming — But Is It Too risky?

Yam Finance claims to bring fairness to farming with new elastic supply token. The latest craze in the DeFi sector is a new yield farming protocol called Yam which promises ‘equal opportunity’ staking with no premine, no founder shares, and a zero value token at launch. The experimental Yam Protocol is the talk of Crypto Twitter right now — with many excited about the big potential returns, while others worry about the risks. The recently launched project offers an elastic supply token, similar to Ampleforth, that can expand and contract depending…

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NEAR Token Sale Postponed After CoinList Is Overwhelmed by Demand

The final token sale for NEAR Protocol was postponed after CoinList exchange was overwhelmed by traffic. The highly anticipated tokensale for decentralized application (DApp) platform NEAR Protocol was postponed by 24 hours after CoinList — the exchange hosting the offering — went down around the scheduled launch time. Originally scheduled for 10 am ET on Aug. 11, the tokensale was postponed by 24 hours after CoinList was deluged by expectant traders. Its Twitter account received a flood of complaints from trader’s who had planned on participating in the offering. Disgruntled…

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DeFi Token Serum Surges 1500% in 12 Hours After Listing

The DeFi boom continues with a new decentralized derivatives exchange token mooning hours after it was launched. The latest DeFi token to moon is for the decentralized derivatives exchange Serum ,which surged by four figures following its launch and exchange listings. The Serum Project is a new, non-custodial DEX that launched on August 11 and its native SRM token has since surged 1500%. The Serum Project is a collaboration between centralized derivatives trading platform FTX, and Solana, a low-fee, high-speed, interoperable smart contract blockchain.  Launched less than 12 hours ago…

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Kazakhstan Proposes 15% Tax on Bitcoin Mining to Help Combat Coronavirus

Kazakhstan has proposed legislation that would see a 15% tax imposed on bitcoin mining firms. This is part of efforts to raise money to help with the fight against the coronavirus pandemic. Proposed by the country’s Ministry of Economy, the new tax plan requires bitcoin (BTC) miners to first file an application for registration with the authorities, according to a recent report by a local Russian publication. After this, the taxpayer must then indicate the 15% tax on their annual tax calculations. The report notes that “the clause on registration…

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IBM Executive Reveals Plans to Help Banks Capitalize on DeFi

IBM could teach banks a thing or two about DeFi. In a Cointelegraph interview, director of IBM financial services and digital assets, Nitin Gaur, shared how the technology company is helping financial institutions to capitalize on the DeFi movement. Gaur — the author of Blockchain for Business — says it is essential that banks understand and embrace DeFi space. Otherwise, he says it could eventually disrupt their entire business model: “I think that the financial institutions should understand it because it has the potential to eventually sort of take over…

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Defcon Speaker Discusses Liberating $300K Worth of Bitcoin From an Encrypted File

This year due to the coronavirus outbreak the world-famous hackers’ convention Defcon held it’s 28th annual event with virtual presentations in “safe mode.” One of the presentations was from an executive from Pyrofex, Michael Stay, who discussed how he broke into an encrypted file to liberate $300,000 worth of bitcoin for a Russian investor. Defcon 28 “safe mode” presentations got interesting on August 5, when ex-Google employee Mike Stay told a story about how he rescued $300k worth of bitcoin (BTC) from an encrypted zip file. Stay is the CTO…

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Institutional FOMO? CME Bitcoin Futures Open Interest Soars to $841M

CME Bitcoin futures set a new open interest high at $841 million, further highlighting growing institutional interest in BTC. Today the open interest on Chicago Mercantile Exchange Bitcoin (BTC) futures reached a new all-time high at $841 million.  Although this can’t be deemed bullish on a standalone basis, it does signal that professional investors’ interest in Bitcoin continues to grow at an immense rate.  CME Bitcoin futures open interest in USD terms. Source: Skew Futures premium provides more useful data The best way to gauge inventors sentiment on futures contracts…

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‘This Ad Is S***’: Bitcoiners on Grayscale’s New TV Spot

Grayscale Investments released a 30-second TV spot on its nine crypto trusts on major news networks this Monday. Amid sky-high expectations, the latest television ad from Grayscale Investments has proven a disappointment to many Bitcoiners. The 30-second ad is running on business and finance cable TV channels and there were hopes before it was unveiled that the could ‘bring crypto investing to millions’. But the reaction following the crypto fund manager posting the ad to its Twitter account on Aug. 10 have been fairly savage. The Twitter video has so…

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Why Chinese Miners Won’t Stage a 51% Attack on Bitcoin

Jameson Lopp explains why attacks on Bitcoin won’t work and that he expects China’s mining dominance won’t last. China accounts for more than half of the world’s Bitcoin mining capacity but Jameson Lopp, the co-founder and CTO of Casa, has hosed down fears that Chinese miners are a threat to Bitcoin in a blog post on Aug. 9. Although many people have raised concerns over the concentration of such much hashpower being located in China, Loop pointed out that even in the event of a 51% attack on Bitcoin, attackers…

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What Lukashenko’s Complicated Re-Election Means for Crypto

‘Europe’s last dictator’ actually loves crypto. Protests have erupted in Belarus following the re-election of the country’s authoritarian president Alexander Lukashenko, who reportedly won against opposition candidate Svetlana Tikhanovskaya in a landslide victory with more than 80% of the vote on Aug. 9. But officials both inside and outside of Belarus are condemning the election results as falsified. The notorious Belorussian president has filled his role since 1994, but he has most recently made a number of statements in favor of blockchain technology. Lukashenko legalized cryptocurrency and ICOs in Dec.…

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