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  • Prime Minister calls for rules to manage cryptocurrencies

    Prime Minister calls for rules to manage cryptocurrencies

    At a National Assembly meeting on drafting laws against money laundering, Prime Minister Pham Minh Chinh said that although cryptocurrencies are not legal tender in Vietnam, they are being traded often and therefore, should be regulated.

    Several delegates then suggested that the draft amendments to the money laundering law include rules on virtual currencies and related transactions. The Anti-Money Laundering Bill (amended) will be considered and approved by the National Assembly.

  • NEAR Protocol to wind down its stablecoin

    NEAR Protocol to wind down its stablecoin

    NEAR Protocol’s stablecoin is being shut down after it began to exhibit risky characteristics similar to those observed with TerraUSD, a cryptocurrency that spectacularly failed this year and lost investors billions of dollars.

    USN recently became undercollateralized as there isn’t enough collateral backing the token. The NEAR Foundation said it was using $40 million to fund a “USN Protection Programme” to protect investors as the stablecoin shuts down.

  • QuickSwap hit with $220,000 flash loan attack

    QuickSwap hit with $220,000 flash loan attack

    On October 25th, hackers attacked decentralized exchange (DEX) QuickSwap, a fork of the originator of Automated Market Makers in the DeFi sector Uniswap, making away with $220,000 in a flash loan exploit.

    The DEX said it had closed QuickSwap Lend, its lending protocol, following the exploit. It added that the only platform hit by an exploit was its Market XYZ lending market. Users also didn’t lose any funds, according to the DEX.

  • Bitcoin mining difficulty has risen by 3.4%

    Bitcoin mining difficulty has risen by 3.4%

    This weekend, Bitcoin’s (BTC) mining difficulty jumped 3.44% higher than the height miners dealt with during the past two weeks or the last 2,016 blocks.

    This month, the Bitcoin mining hash rate reached an all-time high of 266 EH/s. As of Sunday, the network hash rate was around 261.35 EH/s.

  • 53,000+ dApps deployed on Polygon, nearly 8X the number at start of 2022

    53,000+ dApps deployed on Polygon, nearly 8X the number at start of 2022

    53,000+ dApps deployed on Polygon, nearly 8X the number at start of 2022

    According to data from Web3 development platform Alchemy, there are currently over 53,000 decentralized applications (dApps) deployed on Polygon.

    This 53K figure represents an increase of over 60% since June and almost an eightfold jump from the start of the year. This represents a highwater mark of ecosystem activity.

  • Cardano’s (ADA) first telemedicine app goes live

    Cardano’s (ADA) first telemedicine app goes live

    Citaldoc, one of the dominant telemedicine applications on the Latin American market with over 650,000 potential patients, shares the details of ADA testing in its design. As per a statement shared by the Citaldoc team, the platform started testing Cardano’s first token, ADA, for its telemedicine services’ payment module.

    By press time, Citaldoc delivers its services to over 100,000 clients in e-health, telemedicine and pharmaceutical industries, being among the leading companies in LatAm’s healthcare sphere.

  • SHIB burn rate suddenly jumps 1,494%

    SHIB burn rate suddenly jumps 1,494%

    According to Shibburn, in the last 24 hours, the pace of burning SHIBA INU meme coins has gone up by an astounding 1,494%.

    A total of 45,165,582 SHIB were burned versus 2,833,917 SHIB destroyed the day before.

  • Klaytn (KLAY) surged after new governance proposal

    Klaytn (KLAY) surged after new governance proposal

    This October 23, Klaytn, a metaverse and gamefi-focused public blockchain, announced a governance proposal to reduce its block rewards.

    According to an official statement, the new Q3 updates submitted to the Klaytn Governance Council (GC) seek to optimize the issuance level of KLAY tokens through a governance proposal that lowers block rewards. The team expects to reduce KLAY inflation making it more appealing to new investors.

  • Bitcoin’s correlation with gold hints at return to haven status, BoA strategists say

    Bitcoin’s correlation with gold hints at return to haven status

    According to research by the Bank of America, Bitcoin’s shifting relationship with traditional markets hints that investors may again be thinking of it as a haven asset.

    The crypto market heavyweight has seen its correlation with gold increase from zero to 0.5 since mid-August, Bloomberg first reported, citing BoA digital assets strategists Alkesh Shah and Andrew Moss. Its correlation with major indexes has also flattened out below record highs, with the S&P 500 registering 0.69 and the Nasdaq hitting 0.72.

  • BUSD supply crosses $20 billion

    BUSD supply crosses $20 billion

    Binance USD (BUSD) market cap has been on the rise in the last 30 days. Thanks to Binance’s move to convert deposits of USDC, TUSD, and USDP into BUSD on the exchange.

    Following the decision, the supply of BUSD crossed $20 billion for the first time last month. It hit another milestone with a market share of 15.48% of the stablecoin market. Based on CoinMarketCap data -the highest it has ever been.