Značka: crypto

Coin Bureau Youtube channel hacked despite 2FA protection

Coin Bureau, a popular information portal for cryptocurrency developments with over 600,000 followers on Twitter, experienced a security breach on its Youtube channel on Monday. Hackers allegedly uploaded a video with links to scam fiat/cryptocurrency addresses soliciting a token sale before being taken down by Youtube. According to Coin Bureau staff, they were baffled by the incident as its accounts were “secured with ultra-strong passwords and Google security keys.”So our YouTube channel was just hacked. Have absolutely no idea how this happened. All accounts are secured with ultra strong passwords and Google security keys. @YouTubeCreators this is a serious problem which other creators are also experiencing. Please fix— Coin Bureau (guy.eth) (@coinbureau) January 24, 2022This was by no means an isolated incident. Prominent crypto Youtubers such as Ivan on Tech and Real Vision Finance have had their accounts compromised within the past few days. It appears to have been a coordinated effort as hackers uploaded a video titled “One World Cryptocurrency,” that solicited the same type of token sales across all breached accounts. In addition, the accounts were all logged in from an IP address in the Philippines, although the VPNs were widespread, which makes it difficult to track exact login locations.Seems like it’s happening to other YouTubers at the same time. @Altcoinbuzzio @FloydMayweather Also possibly @IvanOnTech @aantonop (seen by my telegram members). pic.twitter.com/WvknuyL3Px— Boxmining (@boxmining) January 23, 2022It’s unclear how much the hackers took in as both creators and Youtube quickly took down the scam videos. However, there have been unconfirmed reports from Twitter users claiming losses. One user, @James86965119, allegedly transferred $1,000 worth of digital currencies to the fake addresses posted by the hacker. In addition, if the allegations from the Youtubers are proven, then it would raise questions regarding the effectiveness of Google’s two-factor authentication service. Theoretically, hackers would not be able to access one’s Youtube account unless they had both the password and security key.

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Uniswap founder's bank account shut down by JP Morgan Chase, shadow-debanking allegations surface

On Sunday, Hayden Adams, CEO and founder of popular decentralized exchange, or DEX, Uniswap (UNI), claimed that his JP Morgan Chase bank accounts were shut down with no explanation. In addition, Adams stated that the incident was personal in nature as he knew “many individuals and companies who have been similarly targeted simply for working in the crypto industry.” This week @jpmorgan @Chase closed my bank accounts with no notice or explanation‍ I know many individuals and companies who have been similarly targeted simply for working in the crypto industryThanks for making it a personal— hayden.eth (@haydenzadams) January 23, 2022Former Commodity Futures Trading Commissioner Brian Quintenz responded with a comment suggesting that the move was likely an instance of “shadow de-banking of crypto by the Federal Reserves and Office of the Comptroller of the Currency bank examiners.” Quintenz explained that banks are contractually prevented from telling customers the reason for ending the business relationship if they deem them too risky. Although most users commiserated with Adams on the alleged debanking, others maintained that there is no universal right to a bank account and, therefore, banks have the discretion to act as they deem fit.Likely a shadow de-banking of crypto by @federalreserve or @USOCC bank examiners, with direction from the top. If the examiner told a bank that a certain customer is too risky and the bank ended that relationship, the bank is contractually prevented from telling that customer why— Brian Quintenz (@BrianQuintenz) January 23, 2022

Quintenz did not offer any further information to support his claim, instead linking to Wyoming Senator Cynthia Lummis’ opinion piece published in the Wall Street Journal in November. In the article, Lummis criticizes the Fed for its failure to register several Wyoming-based, crypto-related special purpose depository institutions (SPDIs) as banks, thus preventing them form getting access to the federal payment system.In another response to Adams’ post, Kraken CEO Jesse Powell cited his own tweet from 2018 where he described how JP Morgan Chase had closed the crypto exchange’s payroll account on a 5-day notice sent by mail.Customers’ risk levels to a bank are typically assessed based on regulatory compliance. Although the motives for the debanking are unclear, last September, the Securities and Exchange Commission initiated a probe into the DEX’s developers regarding the marketing and investor services they provide.Under U.S. financial regulation, broker-dealers are required to register with the Financial Industry Regulatory Authority (FINRA) before they can facilitate clients’ trades. However, because funds are stored in consumers’ wallets instead of the Uniswap DEX and cryptocurrencies are not classified as securities, Uniswap, as with other DEXs and decentralized finance protocols, does not need to register with relevant regulatory bodies. According to CoinGecko, Uniswap is currently the largest DEX globally, with a 24-hour trade volume of $2.74 billion.

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Men check Bitcoin price more frequently than women, new study reveals

Gender is associated with both psychological and demographic factors when it comes to crypto investment, new academic research revealed.A new study has shed light on the differences between men and women in different aspects of crypto trading and investment, revealing that 60% of women have very limited or no knowledge about crypto assets, a critical element affecting investments, while two-thirds of men have a medium and high level of understanding of crypto. Better overall knowledge leads to taking more risks, as men follow their investments more frequently than women and do not avoid taking more risks, the study found. A key driver behind women’s tendency to try different investment tools is lower income and a lower level of knowledge about crypto.The study, accepted by the Journal of Business, Economics and Finance on Dec. 24, argues that gender is a factor that affects the financial investment decisions of individuals. Researchers Çağla Gül Şenkardeş and Ozan Akadur have discussed data obtained via a computer-aided survey conducted in Turkey to reveal gender-related behavioral and psychological differences in crypto.Şenkardeş has been working as an interdisciplinary academic researcher with a focus on technology and gender. Being an active participant in the crypto ecosystem for over five years, she has studied the exclusion of women from the crypto industry with personal observations and specific data collected for the research. Commenting on the study, she told Cointelegraph:“The male-dominated culture built within the crypto industry becomes visible in both the demographic and psychological factors that affect financial investment decisions.” Şenkardeş also shared her personal observations that women have a lower level of knowledge about crypto, which, among other causes, leads to a decrease in the investment ratio. Related: 10 women who used crypto to make a difference in 2021But there is hope. Şenkardeş noted that there are activist platforms around the globe with the goal to increase women’s participation in the crypto industry both as traders and developers. She said:“I do believe together with the increasing awareness on a gender-free digital verse, the gap between the female and male crypto investors will disappear.”As Cointelegraph’s Keira Wright pointed out, current numbers need vast improvements to achieve an equal playing field. A CNBC survey found that women are still less than half as likely to invest in cryptocurrencies than men, with 16% of men investing vs. 7% of women.But the crypto industry has the potential to empower women and give them more control over their finances, Wright concluded, adding that traditional barriers between women and financial freedom are already started to crumble as mainstream adoption takes off.

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Russian tech and political executives denounce crypto ban proposal

Russia’s recent ban on crypto has drawn criticism from a number of big names, including Alexei Navalny’s chief of staff Leonid Volkov, and Telegram founder Pavel Durov. On Jan. 20, Russia’s Central Bank published a report proposing a blanket ban on domestic crypto trading and mining. The report stated that the risks of crypto are “much higher for emerging markets, including Russia.” However, it appears that this proposed ban isn’t universally accepted in the former Soviet Union. A Jan. 22 post by the Telegram founder, Pavel Durov stated that the proposed ban on crypto would “destroy a number of sectors of the high-tech economy.” He added:“Such a ban will inevitably slow down the development of blockchain technologies in general. These technologies improve the efficiency and safety of many human activities, from finance to the arts.”While Durov conceded that the “desire to regulate the circulation of cryptocurrencies is natural on the part of any financial authority,” he concluded that “such a ban is unlikely to stop unscrupulous players, but it will put an end to legal Russian projects in this area.”Leonid Volkov: banning crypto is “impossible”Meanwhile, in a Telegram post on Jan 20. Volkov, who is the chief of staff for Alexei Navalny, wrote that the ban would be like “calling a spade a spade.”Navalny is an opposition leader in Russia and founder of The Anti-Corruption Foundation (FBK). In August 2020, he was poisoned with the nerve agent Novichok. After recovering in Germany, he returned to Russia in January 2021 where he was arrested and has remained imprisoned since. In his announcement, Volkov referenced a Jan. 20 report by Bloomberg. It claimed that Russia’s Federal Security Service (FSB) was instrumental in advancing the ban because crypto can be used to finance “non-systemic opposition and extremist organizations.” He went on to add that he was “sure that the Bloomberg version, in this case, is 100% close to reality, but nothing will happen” because Russians are more likely to use crypto to buy drugs rather than donate it to the Moscow-based non-profit FBK. “Technically, banning cryptocurrency is the same as banning person-to-person transfers (i.e. it’s impossible)… Yes, they can make it very difficult to deposit funds on crypto exchanges, which means that intermediary services will simply appear that will do this through foreign jurisdictions. Yes, transaction costs will rise. Well, that’s all, I guess.”Related: Bank of Russia governor: Banning crypto in Russia is ‘quite doable’Many of Russia’s neighbors have also taken a hard-line stance on crypto. On Jan. 19, citizens in neighboring country Georgia were made to swear an oath to cease mining crypto. The governments of Kosovo and Kazakhstan, have also recently been added to the list of countries that have banned crypto mining. Perhaps one exception is Russia’s neighbor Ukraine, which passed a number of laws to facilitate the country’s adoption of cryptocurrencies in September 2021.

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Crypto YouTubers fall victim to hacking and scamming attempt

Hackers attacked a number of popular crypto YouTuber accounts at some point during the afternoon of Jan. 23. The accounts posted unauthorized videos with text directing viewers to send money to the hacker’s wallet. Accounts who appear to have been targeted by the attack include: ‘BitBoy Crypto’, ‘Altcoin Buzz’, ‘Box Mining’, ‘Floyd Mayweather’, ‘Ivan on Tech’, and ‘The Moon’ among others. BREAKING: Dozens of Crypto YouTubers have had their accounts hijacked by hackers promoting a fake crypto giveaway scam. Hacked accounts include:@IvanOnTech@boxmining@aantonop@themooncarl@Bitboy_Crypto@mmcrypto@Altcoinbuzzio@FloydMayweather@crypto_banter@CoinMarketCap pic.twitter.com/ykXkZUh9cO— Mr. Whale (@CryptoWhale) January 23, 2022The Binance Smart Chain wallet address that was listed on the fraudulent videos only had a total of 9 transactions in BNB at the time of writing, with a total value of around $850.Michael Gu told Cointelegraph that his YouTube channel Boxmining posted a video without his permission. “Luckily we caught it within two mins of the video going live and managed to delete it,” he said. “By that time there were already views and comments from my community.”He added that he had done an internal sweep and found no viruses or bugs that may have given the hackers access to his account. “Seems like YouTube might be responsible,” he said. Many Crypto Youtubers (including me) got hacked today – all publishing a scam video at around the same time – @IvanOnTech @aantonop @Bitboy_Crypto @Altcoinbuzzio @FloydMayweather @crypto_banter @CoinMarketCapI have 2FA enabled. pic.twitter.com/c8z5qmJ3bT— Boxmining (@boxmining) January 23, 2022

One Reddit post by user “9Oh8m8” suggested that it appears as though the hackers were able to gain access to the accounts using a SIM swap scam, which would have enabled them to bypass two-factor authentication (2FA). They added:“They are all posting with a title like “ONE WORLD CRYPTOCURRENCY”. They have an address in vid and description to send your USDT/USDC/BNB/ETH to receive a new crypto called OWCY.” However, Gu wasn’t convinced that the hack was a result of a SIM swap, telling Cointelegraph that there were no logins on his personal Google account. “If it was a SIM swap I would lose access to my phone etc and that didn’t happen,” he said. “What we noticed was on the BRAND account (which doesn’t have a login. YouTube brand accounts are connected to personal) there was a login from the Philippines. Very likely this is either a hack on YouTube side or a rogue employee. That’s how they got so many people at the same time.”Founder and CEO of the Altcoin Buzz YouTube channel Shash Gupta added that they noticed something was amiss at around 1 AM Singapore time on Sunday night when an unauthorized video was posted to their channel. “It’s pretty unclear what happened. I’m talking to Youtube to get to understand the matter and avoid such further breaches.”Related: YouTube channels hacked and rebranded for livestreaming crypto scamsAnother crypto YouTuber Richard Heart tweeted at 9:30PM UTC that his channel had been banned during the middle of a livestream, indicating that YouTube was probably aware of the event. Hello again @YouTubecreators My channel was just banned in the middle of a livestream. I think it might have to do with all of the other youtubers that were hacked at the same time today. Could you check please, thanks! @YouTube @YouTube— Richard Heart PulseX.com! Called the Bitcoin top! (@RichardHeartWin) January 23, 2022

Cointelegraph reached out to YouTube and a number of other crypto content creators who were affected by the hack but had not received any additional information at the time of writing.

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Crypto Twitter responds to Bitcoin dump: ‘ok cool’

Bitcoin (BTC) has dumped below 40,000, wiping out almost $50 billion from the crypto market cap. Even without any particular news to blame, Crypto Twitter still won’t let the dump slide without reacting in its own colorful ways.Lark Davis, a crypto figure with almost a million Twitter followers asked his audience: “Are you buying anything on this dip? Or waiting for clarity if we go lower or higher?” User french b happily replied that he’s too broke to do anything at this point. Been buying the dip for past 6 months .. I m broke now— french B (@frenchB13852573) January 21, 2022Meanwhile, Frank Sirianni III replied, expressing how he has already accepted this trend where BTC price falls whenever he buys. “I’ve just accepted the fact that after I buy it goes lower. I’m at peace with that now,” wrote the Twitter user.In another area within Crypto Twitter, users Sir Doge of the Coin and Ananthu expressed how they feel through images and a gif of some classic memes.It’s a love/hate relationship#Bitcoin #BTC pic.twitter.com/hfF8EskEnj— Sir Doge of the Coin (@dogeofficialceo) January 21, 2022

Gold bull Peter Shiff and his followers didn’t waste this opportunity to talk smack against BTC, predicting that “a crash below $10,000 is highly likely.”#Bitcoin has finally broken the neckline of a head-and-shoulders top. The scary part for the longs is that the pattern projects a move below $30,000. Once that level is breached Bitcoin will have completed a massive double top. From there a crash below $10,000 is highly likely.— Peter Schiff (@PeterSchiff) January 21, 2022

Twitter user Manuel Campbell supported Shiff’s FUD by tweeting that he thinks Shiff is still too optimistic with that prediction.In response, Bitcoiners called out Shiff pointing out that his previous predictions weren’t really accurate. Twitter user Max replied to Shiff, “You are wrong every time!” white quoting Shiff’s tweet two years ago. Meanwhile, Microstrategy CEO Michael Saylor also did not miss this opportunity to drop some of his words of wisdom for BTC investors.If you are going to invest in #bitcoin, a short time horizon is four years, a mid time horizon is ten years, & the right time horizon is #forever. https://t.co/rRMz0yCkpN— Michael Saylor⚡️ (@saylor) January 20, 2022

Related: Twitter Blue rolls out NFT profile pics for iOSWhile everyone reacted with varying levels of emotion because of the dump, Crypto Twitter figure Will Clemente remains unfazed. Clemente tweeted, “Just drove for 2 hrs, check my phone and BTC is sub 40K — ok cool.”

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CasperLabs to become blockchain of choice for the City of Fuzhou, China

On Friday, CasperLabs, a blockchain software firm, announced a partnership with China’s Blockchain-based Service Network, or BSN. Through the agreement, which has been minted as a nonfungible token, or NFT, as a sign of commemoration, Casper Network will be added as the blockchain of choice to the Fuzhou City Chain for use in public and private crypto infrastructure developments in the region — dubbed “Fuzhou Chain powered by Casper.” RockTree Capital, an investment company, based in New York, played a critical role in bridging the entente between Casper and Fuzhou City.As told by stakeholders, the partnership’s main goal is to enable BSN to gain from Casper’s scalability, security, and decentralization, as well as the use of the open-permissioned blockchain, or OPB, protocol to eliminate the need for using cryptocurrencies to pay for gas fees. Since its launch in 2019, BSN has expanded to more than 120 public city nodes across China, serving as data centers running and processing transactions on its umbrella blockchain networks.Mrinal Manohar, co-founder, and CEO of CasperLabs, said of the development:By partnering with Casper, the BSN gains from Casper’s scalability, security, and decentralization. The use of OPB eliminates the use of cryptocurrencies to pay for gas fees. All combined, this makes it much simpler for developers in and around Fuzhou to generate public and private blockchain applications at a lower cost.

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Nations to adopt Bitcoin, crypto users to reach 1B by 2023: Report

There’s a beacon of hope for battered Bitcoin (BTC) bulls. A promising report from Crypto.com predicts that global crypto users could reach one billion by the end of 2022.The report reaches the conclusion that a combo of developing nations copying El Salvador’s orange-pilled example and a “friendlier stance” towards the crypto industry means that “Nations can no longer afford to ignore the growing push towards crypto by the public.”Looking back on 2021, the global crypto population increased by 178% in 2021, rising from 106 million in January to 295 million in December. While 2021 kicked off with Tesla and Mastercard joining the party with crypto payments and adoption, BTC drove growth in the second part of the year, effectively outperforming Ether (ETH) adoption.In the run-up to El Salvador’s Bitcoin legal tender bill, August was an outstanding month for adoption as shown in the graph below:In light of the number of crypto users in 2021 tripped, Crypto.com estimates that “If we extrapolate a similar rate of increase in 2022, we are on track to reach 1 billion crypto users by the end of 2022.”However, it will take more than just one Latin American nation adopting Bitcoin and some healthy crypto regulation in the United States to get there. Related: Crypto liquidations pass $700M as altcoins take a hit from Bitcoin sinking below $40KFortunately, a recent Fidelity report agrees on nation-state adoption; they “wouldn’t be surprised” to see more countries adopting BTC in 2022. As for the second part of the Crypto.com prediction on a friendlier stance to crypto, the jury is out. Given that the potential rocket fuel that is a U.S. Bitcoin ETF continues to be rejected, and the recent U.S crypto mining hearing was cautious at best, Crypto.com’s predictions are a saving grace. As price action grinds lower, the report is welcome hopium for hodlers.

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Twitter Blue rolls out NFT profile pics for iOS

On Thursday afternoon, Twitter announced that it would be rolling out iOS support for nonfungible token, or NFT, hexagonal avatars. As of now, only paid subscribers of Twitter Blue using iOS, which costs $2.99 per month, can access the feature. According to a tutorial video, users can connect their wallet, including Coinbase Wallet, Rainbow, MetaMask, Trust Wallet, Argent, or Ledger Live, and set it as their profile pic, with the process taking a few seconds.Users can also learn more about each other’s NFT avatars, such as their owners, creators, description of the series, as well as verification of authenticity on third-party platforms like OpenSea. According to Twitter, the platform does not maintain an ongoing connection with one’s crypto wallet. However, the firm stores one’s public wallet address to ensure that it continues to hold the NFT avatar. Although one can only set it on iOS through Twitter Blue, the NFT profile pic will be visible across all platforms.The functionality of the development is still in the early stages. Twitter currently supports only static images, such as JEPG and PNG files, minted on the Ethereum (ETH) blockchain, including ERC-721 and ERC-1155 token standards. But if one sells or transfers the NFT while still set as profile picture, it will not display any information regarding its ownership when clicked.gm! You asked (a lot), so we made it. Now rolling out in Labs: NFT Profile Pictures on iOS pic.twitter.com/HFyspS4cQW— Twitter Blue (@TwitterBlue) January 20, 2022But any over-enthusiasm would be short-lived. According to Twitter user and blockchain enthusiast @HollanderAdam, the feature appears to work for any NFT in one’s collection— not just those in verified collections. In other words, an internet stranger can simply right-click-save any NFT from a Twitter profile, mint it, and then use it as their avatar. 

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NYC Mayor Adams to receive first paycheck in cryptocurrency Friday

Today, Eric Adams, the Mayor of New York City, announced he would be taking his first paycheck in Bitcoin (BTC) and Ethereum (ETH) with the funds arriving Friday. The salary will not be directly paid out as crypto. Instead, it is first issued in fiat U.S. dollar and then converted into digital currencies on Coinbase.Due to the U.S. Department of Labor and various state-level regulations, resident U.S. employees typically cannot receive their remuneration directly in cryptocurrency. This is partly because the Internal Revenue Service classifies fiat USD wage payments as income, whereas items such as stock-based compensation or cryptocurrencies are classified as property.Mayor Adams issued the following statement regarding his choice of remuneration:New York is the center of the world, and we want it to be the center of cryptocurrency and other financial innovations. Being at the forefront of such innovation will help us create jobs, improve our economy, and continue to be a magnet for talent from all over the globe.Matt Fraser, NYC’s chief technology officer, added:This step taken by the mayor provides a leading example of how we can empower people through tech with a more diverse set of options to manage their finances.

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Wiki continues to accept crypto donations despite pressure to stop

Following a proposal from users to stop accepting crypto donations to Wikimedia Foundation, the nonprofit confirmed that it would proceed with crypto donations. Contributors banded together to urge the foundation to disable the option to donate in crypto because of environmental concerns. However, while the organization will continuously monitor the conversations around crypto within its communities, it will not budge on accepting crypto donations.Elise Flick from the Wikimedia team told Cointelegraph that Wikimedia’s fundraising approach is meeting donors where they are. Flick mentioned that the foundation aims to “provide the most desired payment options in different parts of the world.” This includes catering to the requests that the foundation received from donors requesting to be able to donate in cryptocurrency.”We want to be as inclusive as possible, and allow people to contribute with the method they feel most comfortable with.”Julia Brungs, the Senior Community Relations Specialist from Wikimedia Foundation, also responded to Molly White’s (GorillaWarfare) questions in the original proposal. According to Brungs, the most used crypto for donations was Bitcoin (BTC). However, the organization immediately converts it into fiat. “We have never held cryptocurrency, and spot-convert donations daily into fiat currency (USD), which doesn’t have a significant environmental impact,” wrote Brungs.The response also cited data from Cambridge Bitcoin Electricity Consumption Index that says that there is very little evidence that connects Bitcoin directly as a contributor to climate change. The data “shows that even in the worst-case (i.e., mining powered exclusively by coal), Bitcoin’s environmental footprint currently remains marginal at best.”Related: ‘Emergency’: Wikipedia editors vote against classifying NFTs as artMeanwhile, not all organizations are willing to continue crypto donations after receiving anti-crypto community feedback. Earlier this January, Mozilla paused its acceptance of crypto donations after receiving a reaction from a co-founder. Because of this decision, the creator of Dogecoin slammed Mozilla saying “thank you for succumbing to an ignorant, reactionary internet mob.”

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Stader Labs announce $12.5 million strategic raise, receives praise from Terra founder Do Kwon

On Thursday, Stader Labs, a crypto firm building decentralized finance, or DeFi, products for proof-of-stake blockchain networks, announced that it raised $12.5 million in a private sale. The funding round was led by Three Arrows Capital with additional participation from Blockchain.com, Accomplice, DACM, GoldenTree Asset Management, Accel, Amber, 4RC, Figment, and anger investors. This puts Staber Labs at a valuation of $450 million.Amitej Gajjala, CEO of Stader Labs, issued the following comment regarding the development:This capital will be strategically deployed to accelerate our cross-chain expansion, as well as to nurture our growing ecosystem of third-parties developing staking applications with decentralized Stader infrastructure.Stader Labs’ two core products are Stake Pools and Liquid Staking. Stake Pools enable retail and institutional investors to earn staking rewards in pre-defined baskets of validators grouped by performance. Meanwhile, Liquid Staking allows users to receive liquid tokens (LunaX) when staking, which can then be deposited into other DeFi protocols to farm yields. It’s a derivative of the original token that can potentially lead to compounded rewards, as well as compounded risks.According to Kyle Davies, co-founder of Three Arrows Capital, there are now over 15,000 unique wallets staking on Stader Labs, with total value locked of around $500 million. Its protocols launched last November.Currently, Stader Labs only support staking on the Terra (LUNA) blockchain but has plans to expand to Solana (SOL), Ethereum (ETH), Fantom, Hedera, and Polygon (MATIC). Do Kwon, founder, and CEO of Terra, commented:These tools will bring Stader closer to its vision to be the most convenient and safe non-custodial staking platform — and a core ally in the future of finance thanks to its embedded decentralization for layer-one solutions.

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