Layer-2 race heats up as Loopring (LRC) price gains 430% in 2021
Loopring’s increasing DEX volume and token price show the project is emerging as one of the leading layer-two solutions working to address the high gas fees on the Ethereum network.
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Federal Reserve Appoints Pro-Bitcoin Chief Innovation Officer
A pro-bitcoin head of digital assets from TD Ameritrade has been appointed as the Federal Reserve System’s chief innovation officer. This is “a new role in which she will lead efforts to identify, research, enable and advocate for new technologies,” the Fed explained.
The Fed’s New Chief Innovation Officer Is Pro-Bitcoin
The Federal Reserve Bank of Richmond serves as the hub of the Federal Reserve’s enterprise IT organization. This nationwide team delivers technology solutions and support across the Federal Reserve System and the Board of Governors. The Richmond Fed announced Monday:
Sunayna Tuteja has been appointed as the Federal Reserve System’s chief innovation officer.
The announcement explains that this is a new role and Tuteja “will lead efforts to identify, research, enable and advocate for new technologies while fostering a culture of innovation, collaboration and experimentation.” The appointment became effective on Feb. 22.
Prior to joining the Fed, Tuteja worked at TD Ameritrade, one of the largest online brokers in the U.S., where she was head of digital assets. She also previously served as head of strategic partnerships and emerging technologies as well as head of digital strategy, experience and innovation at the company.
The crypto community sees Tuteja’s appointment as bullish. Lawyer Jake Chervinsky opined, “Continuing the trend of leadership roles in government being filled by extremely talented people with deep crypto knowledge & experience.” Bitcoin bull Mike Novogratz congratulated Tuteja, tweeting, “This is a big deal.”
Tuteja shared her thoughts about bitcoin and its supporters in a series of tweets on Dec. 16, 2020. The former head of digital assets at TD Ameritrade wrote:
[The] Thing I admire most about the bitcoin community is resilience. Sheer amount of shade & schadenfreude directed at bitcoin and the community over the years is enough to make anyone curl up into a ball.
“Yet like bitcoin, this is a community that keeps bouncing back every time they are written off, and bounce back stronger, having been stress tested in ways expected and unexpected,” she continued. “I am sure there are many twists and turns yet to come that we’ll have to suit up and slay … but for today, take a moment and enjoy the power of this movement.”
What do you think about the Fed appointing a pro-bitcoin chief innovation officer? Let us know in the comments section below.
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Aave and Balancer announce hybrid AMM liquidity pool & lending product
In what may become an industry standard, unused liquidity from Balancer will be deposited into Aave, significantly increasing depositor yield
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Russian Orthodox Church will not accept Bitcoin in offering plate
A church spokesperson said it was also unlikely the church would release its own digital currency.
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North America’s first Bitcoin ETF sees explosive debut with $564M in assets
The Purpose Bitcoin exchange-traded fund has been a roaring success since its debut last week.
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Twitter CEO donates 1 BTC to Bitcoin core development nonprofit
Brink, a fledgling Bitcoin nonprofit outfit, got the nod from Jack Dorsey via a BTC donation.
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Pro traders went long as Bitcoin fell to $45K, liquidating $5.9B in futures
Data shows pro traders opened new leveraged long positions even as Bitcoin price dropped to $45,000 and $5.9 billion in futures contracts were liquidated.
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Japanese Authorities Say the Majority of People Involved in Coincheck’s 2018 Hack Are Individuals With ‘High Social Status’
More details keep appearing from the police investigation into the 2018 Coincheck hack that stole $530 million from the crypto exchange. Japanese authorities revealed that most of the individuals involved have a “high social status.”
One of the Individuals Took Part in a NEM Swap Deal Is Worth $64 Million
According to a report published by Bunshun, “the majority” of the men involved in the case are “high income” individuals. In fact, they come from different professional backgrounds, such as being company managers and doctors.
Prosecutors said the individuals are aged between 20 and 49, without giving major details on their profiles. However, the latest findings suggest that one of the heist people took part in a bogus transaction with NEM (XEM) tokens.
Per the Cybercrime Countermeasures Division, the individual allegedly took part in a NEM swap with another token (unnamed) in a transaction worth $64 million at the exchange time.
But the investigation is still having significant difficulties to advance. At least that’s what the Japanese authorities have been saying recently because the whereabouts of two-thirds of the missing tokens are still unknown. There are no hints on where these tokens could have ended.
Unknown Whereabouts of Around Two-Thirds of the Stolen Tokens
The Cybercrime Countermeasures Division is a unit from the Life Safety Department of the Metropolitan Police Department in Japan.
The team comprises former hackers who worked for top-class companies. They also suspect that crypto assets stolen are probably in overseas exchanges. Still, there are no indications of alleged cybercriminals in the Coincheck hack cashing stolen tokens into fiat in domestic crypto companies.
As news.Bitcoin.com reported early in January, Japanese police charged 30 people for their alleged involvement in illegal transactions linked to the well-known $530 million Coincheck hack in 2018.
Tokyo authorities traced all individuals’ transactions to different places across the nation. Coincheck’s theft remains the biggest in the cryptocurrency industry, together with the Mt Gox hack of 2014.
What are your thoughts about the report from the Japanese media on the Coincheck hack? Let us know in the comments section below.
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M31 Capital is looking to launch a new Bitcoin hedge fund
The M31 Capital Bitcoin Access Fund could provide institutional investors with another avenue for investing in BTC.
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DeFi will provide good regulatory test for SEC, says Commissioner Peirce
The SEC commissioner described the DeFi space as “a work in process” but overall “alluring.”
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