Autor Cointelegraph By Zhiyuan Sun

Tornado Cash says it's using Chainalysis oracles to block access from OPAC sanctioned addresses

Tornado Cash says it's using Chainalysis oracles to block access from OPAC sanctioned addresses

Uverejnil používateľ | apr 15, 2022 |

On Friday, Tornado Cash announced that it was using oracle contracts from Chainalysis to block wallet addresses sanctioned by the U.S. Office of Foreign Assets Control, or OFAC. The move comes after the U.S. Department of the Treasury linked North Korean cyber-criminal Lazarus Group as an alleged perpetrator for the recent $600 million+ Ronin bridge exploit. As told by blockchain analytics firm Elliptic, the hackers have sent approximately $80.3 million worth of Ether (ETH) through Tornado Cash. “Maintaining financial privacy is essential to preserving our freedom; however, it should not come at the cost of non-compliance,” said the Tornado Cash team. Tornado Cash is a popular cryptocurrency mixture used to obfuscate the trail of transactions for privacy. The Chainalysis Sanctions Oracle can validate if a cryptocurrency wallet address has been included in a sanctions designation from the U.S., E.U., or U.N. But Tornado Cash co-founder Roman Semenov later clarified that the instrument only blocks access to the decentralized application, or DApp, interface and not the underlying the smart contract. There have been traces of Tornado Cash in several controversial decentralized finance activities. In February’s $375 million Wormhole exploit, hackers experimented with Tornado Cash using stolen funds. The same month, the LooksRare team also partly used Tornado Cash to cash out over $30 million in crypto. A recent Rare Bears Discord phishing attack that nabbed $800k in NFTs also involved hackers funneling the stolen funds through Tornado Cash. Reports also emerged that funds from a $33 million Crypto.com exploit were being laundered via the DApp. However, it appears that Semenov has had enough of the protocol’s association with alleged illicit activities, discussing the potential consequence of jail time for non-compliance with regulators in blocking access to blacklisted individuals. Now do the “Jailed” list for ones that are not bending backwards to be compliant— Roman Semenov in Dubai️ (@semenov_roman_) April 15, 2022

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Binance CEO explains what he's most excited about in 2022

Binance CEO explains what he's most excited about in 2022

Uverejnil používateľ | apr 14, 2022 |

During Paris Blockchain Week, Changpeng Zhao, CEO of Binance, the largest centralized cryptocurrency exchange in the world, sat down with Cointelegraph reporter Joe Hall for an exclusive interview. When asked about what excites him the most in crypto in 2022, Zhao said “We’re now seeing regulators who want to be a part of this industry. So I think that’s one of the most fundamental things we’ve shifted.” “Multiple countries, such as the U.S., issued an executive order regarding stablecoins. Along with Bahrain, Dubai built a regulatory framework and issued a number of licenses to big players.”Binance CEO Changpeng Zhao and CT eporter Joe Hall The CEO of Binance then went on to describe how France, Portugal, Sweden, and Gibraltar have all enacted positive regulations regarding crypto. “So I think that really helps adoption,” says Zhao. In addition, Zhao also expressed his enthusiasm for recent innovations, such as the Metaverse and GameFi.Zhao gave particular praise to the regulatory framework of the French government, saying “In setting up this conference, our team asked permission to put Binance banners on the Palais Brongniart [Historical Paris Stock Exchange]. And the government was totally cool with granting permission, which shows their progressiveness.” “I think just little things like that indicate how comfortable we feel with the government here. That’s why we want to make heavy investments and grow the industry in France.”More than 60% of conventional companies have turned a profit when venturing into blockchain in France, compared to just 20% for the global market. Cointelegraph staff is live on the ground covering Paris Blockchain Week. 

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Amazon CEO expresses optimism about the future of cryptocurrencies and NFTs

Amazon CEO expresses optimism about the future of cryptocurrencies and NFTs

Uverejnil používateľ | apr 14, 2022 |

Speaking during an interview with CNBC after releasing his first shareholder letter as the new CEO of Amazon, Andy Jassy said that while he does not own any cryptocurrencies or nonfungible tokens, or NFTs, he is optimistic about the outlook of the industry. Jassy stated: “We’re not probably close to adding crypto as a payment mechanism in our retail business, but I do believe over time that you’ll see crypto become bigger. I expect that NFTs will continue to grow very significantly.”Specifically, regarding the sale of NFTs by Amazon, Jassy claimed that “it’s possible down the road on the platform.” Last November, Cointelegraph reported that Amazon was hiring a Financial Services Specialist who “understands the overall cryptocurrency and digital asset ecosystem,” with experience in blockchain and distributed ledger technology. However, Amazon posted another job advertisement two weeks ago that also solicits applicants for the same role. Notable job responsibilities include being “able to define industry-specific messaging and collateral that effectively communicate the AWS [Amazon Web Service] value proposition for AWS digital asset solutions in financial services.” Interestingly, the job ad does not state any degree requirements, only that of work experience. Despite the optimism, Jassy reiterated the company’s stance from last July that Amazon “is probably not close to adding crypto as a payment mechanism in our retail business.” Among major e-commerce tech firms, Shopify has been at the forefront of crypto adoption, with the company announcing earlier this month that it would accept Bitcoin (BTC) as payment on the platform via The Lightning Network and Strike. However, the move has also triggered skepticism from users, with some pointing out the legal ramifications of funds not going through the Know Your Customer process. 

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Ava Labs raises $350M at $5.25B valuation: Report

Ava Labs raises $350M at $5.25B valuation: Report

Uverejnil používateľ | apr 14, 2022 |

According to a report published by Bloomberg on Thursday, Ava Labs is en route to raising a new round of funding for $350 million at a valuation of $5.25 billion. Details of the agreement have not been made public. Ava Labs is the lead developer of the Avalanche (AVAX) blockchain. The total value locked, or TVL, on AVAX currently sits at $14.6 billion, according to data from DeFi Llama. Decentralized finance, or DeFi, borrowing and lending protocol Aave accounts for 33.72% of market share on the blockchain. AVAX has become one of the most popular blockchains, surpassing a market cap of $21.3 billion. Since the launch of its mainnet in September 2020, the blockchain has grown to an ecosystem of approximately 450 individual projects, removed $118 million worth of AVAX from circulation through token burning, and attracted more than 1.5 million community members.As reported by Cointelegraph last November, the Avalanche Foundation, a primary organization within the Avalanche ecosystem, launched a $200 million fund to incentivize developers to build on the network. Two months prior, in September 2021, the foundation raised $230 million through a token sale spearheaded by Polychain and Three Arrows Capital to grow its DeFi ecosystem. Back then, the blockchain’s TVL stood at $14 billion, while its infrastructure supported about 270 projects. Related: AVAX traders anticipate a new ATH even as Avalanche DApp use slowsMore recently, organizations behind algorithmic stablecoin blockchain Terra purchased a combined $200 million in AVAX for their strategic Terra USD reserves. In justifying the investment, Terra co-founder Do Kwon cited solid growth in the blockchain’s ecosystem and the loyalty of its users.

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NFT Investments PLC mulls £96M acquisition of Pluto Digital

NFT Investments PLC mulls £96M acquisition of Pluto Digital

Uverejnil používateľ | apr 8, 2022 |

On Friday, NFT Investments PLC, a U.K.-based blockchain firm that invests in companies operating in the nonfungible tokens, or NFTs, space, announced that it would no longer pursue a 96 million pound acquisition of Pluto Digital. Although it did not directly state its reasons for canceling the deal, NFT Investments wrote:”The company is well-positioned to take advantage of the recent market correction in the blockchain and digital assets sectors by investing at attractive valuations.”Back in January, NFT Investments signed a non-binding letter of intent to acquire Pluto Digital, which builds infrastructure in the decentralized finance, or DeFi, realm, via the new issuance of NFT shares. From last November to March of this year, the blockchain industry witnessed a month-long bear market, sending the total market cap of digital tokens over 40% below their all-time highs.However, not all crypto enthusiasts are convinced that the big-picture sell-off is coming to an end. Some point out the inversion of the U.S. Treasury yield curve as a sign that a recession is looming on the horizon. Since the 1950s, the yield curve has inverted ahead of every U.S. recession. The last time this occurred, in August 2019, it led to a full-out rout in the cryptocurrency market due to the emergence of the COVID-19 pandemic.Nevertheless, Jonathan Bixby, executive chairman of NFT Investments, shared a positive outlook on the blockchain industry:”The NFT sector continues to show strong growth, and despite volatile market conditions, we secured a stake in seven companies that have high growth potential and are equipped to make an impact on the blockchain sector. At the same, we also took the opportunity to realize significant gains from one investment, Kodoku Studios, which produced a 349% gain due to its takeover by Pioneer Media Holdings Inc. last November.”

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