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ZatodohasThe expert predicted lawsuits against Twitter after its rebranding to X
The recent announcement of social platform X (formerly Twitter) regarding its rebranding and plans to change its name and logo to "X" has raised concerns about potential legal challenges and trademark infringement issues. Lawyer Josh Gerben has predicted that the company could face lawsuits that may cost up to $100 million in the coming years. Within a few weeks of the rebranding announcement, it is expected that lawsuits related to trademark infringement could be filed against the company, p...
ZatodohasThe IMF questioned the need to ban cryptocurrencies
In a departure from traditional skepticism, the International Monetary Fund (IMF) has raised intriguing questions about the necessity of implementing an all-encompassing ban on cryptocurrencies. This shift in perspective showcases the evolving landscape of digital assets and regulatory bodies' willingness to embrace a more nuanced approach. During a recent panel discussion, IMF Managing Director Kristalina Georgieva introduced a captivating notion, expressing reservations about the effic...
ZatodohasThe Fed saw stablecoins as a threat to financial stability
The tranquil facade of stablecoins may belie an undercurrent of potential instability, or so warns a comprehensive study conducted by the Federal Reserve Banks of Boston and New York. In a financial landscape increasingly shaped by these digital assets, experts have sounded a clarion call, deeming stablecoins a latent threat to the very stability of the financial system itself. The study casts a discerning eye on two of the most prominent figures in this arena, USDT and USDC, and dares to dra...
ZatodohasThe expert predicted lawsuits against Twitter after its rebranding to X
The recent announcement of social platform X (formerly Twitter) regarding its rebranding and plans to change its name and logo to "X" has raised concerns about potential legal challenges and trademark infringement issues. Lawyer Josh Gerben has predicted that the company could face lawsuits that may cost up to $100 million in the coming years. Within a few weeks of the rebranding announcement, it is expected that lawsuits related to trademark infringement could be filed against the company, p...
ZatodohasThe IMF questioned the need to ban cryptocurrencies
In a departure from traditional skepticism, the International Monetary Fund (IMF) has raised intriguing questions about the necessity of implementing an all-encompassing ban on cryptocurrencies. This shift in perspective showcases the evolving landscape of digital assets and regulatory bodies' willingness to embrace a more nuanced approach. During a recent panel discussion, IMF Managing Director Kristalina Georgieva introduced a captivating notion, expressing reservations about the effic...
ZatodohasThe Fed saw stablecoins as a threat to financial stability
The tranquil facade of stablecoins may belie an undercurrent of potential instability, or so warns a comprehensive study conducted by the Federal Reserve Banks of Boston and New York. In a financial landscape increasingly shaped by these digital assets, experts have sounded a clarion call, deeming stablecoins a latent threat to the very stability of the financial system itself. The study casts a discerning eye on two of the most prominent figures in this arena, USDT and USDC, and dares to dra...
The Multichain cross-chain protocol, which had ceased functioning in July, surprisingly came back to life in early November, resulting in one fortunate user reaping $1 million in profits through arbitrage, as reported by DL News.
The sudden relaunch of the protocol in November was unexpected, given that it had faced issues since May, which eventually led to user funds being moved to unknown addresses. The protocol's shutdown in July was attributed to the arrest of the company's CEO, Zhao Jun, by Chinese authorities, which resulted in the loss of wallet access.
On November 1, the Multichain protocol briefly resumed processing transactions on the Fantom blockchain. During this short window of operation, an unidentified user managed to transfer WBTC worth approximately $1 million to the Ethereum network. This marked the first transaction through Multichain in 117 days.
Following this successful operation, the user conducted transactions involving WETH and USDT tokens. As word spread about the functioning bridge, many other traders began utilizing it for small amounts.
However, the protocol stopped working again after approximately two hours of activity, raising questions about the timing of the user's operations and the possibility of collaboration with those who had relaunched the protocol.
In a noteworthy transaction, this user received 1.2 million Fantom (FTM) tokens, valued at approximately $280,000 from Binance at 9:23 UTC.
The Multichain saga is a reminder of the unpredictable and complex nature of cryptocurrency platforms, and users should exercise caution when engaging with such protocols.
The Multichain cross-chain protocol, which had ceased functioning in July, surprisingly came back to life in early November, resulting in one fortunate user reaping $1 million in profits through arbitrage, as reported by DL News.
The sudden relaunch of the protocol in November was unexpected, given that it had faced issues since May, which eventually led to user funds being moved to unknown addresses. The protocol's shutdown in July was attributed to the arrest of the company's CEO, Zhao Jun, by Chinese authorities, which resulted in the loss of wallet access.
On November 1, the Multichain protocol briefly resumed processing transactions on the Fantom blockchain. During this short window of operation, an unidentified user managed to transfer WBTC worth approximately $1 million to the Ethereum network. This marked the first transaction through Multichain in 117 days.
Following this successful operation, the user conducted transactions involving WETH and USDT tokens. As word spread about the functioning bridge, many other traders began utilizing it for small amounts.
However, the protocol stopped working again after approximately two hours of activity, raising questions about the timing of the user's operations and the possibility of collaboration with those who had relaunched the protocol.
In a noteworthy transaction, this user received 1.2 million Fantom (FTM) tokens, valued at approximately $280,000 from Binance at 9:23 UTC.
The Multichain saga is a reminder of the unpredictable and complex nature of cryptocurrency platforms, and users should exercise caution when engaging with such protocols.
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