Crypto Flipsider News – ConsenSys Privacy Update; DCG debt of $2 billion; Singapore check into Hodlnaut; pegged ETH withdrawal; Ardana has stopped development


ConsenSys Privacy Update for Collecting Ethereum IPs and Addresses via MetaMask

On November 23rd, ConsenSys, one of the companies behind the Ethereum merger, updated has its own privacy policy, which states that it will collect certain user data. This has led to a backlash from the privacy-focused crypto community.

A privacy policy update from ConsenSys may see its crypto wallet, MetaMask, collect the IP address and Ethereum wallet of customers who transact using Infura as their virtual remote procedure call (RPC) provider.

ConsenSys notes that it will not collect information on those who use a personal Ethereum node or third-party RPC provider with MetaMask. ConsenSys also collects other user-identifying data, including contact details and profile information.

The move raised concerns in the Web3 community, with many users Threatening to boycott Consensys services. Others have taken the sharing of education/tools for users to circumvent the process.

The move was frowned upon because it was seen as an infringement on user privacy – a fundamental tenet of the crypto industry.

DCG has $2 billion in debt, but Barry Silbert says all affiliates are stable

in message For shareholders, Barry Silbert, founder and CEO of Digital Currency Group, outlined the state of the company’s lending situation. He revealed that the company currently owes $2 billion in debt.

Silbert acknowledges the intercompany loans, writing that DCG borrowed $575 million from Genesis Global Capital, a subsidiary of it. However, the DCG chief explains that the loans were made “in the normal course of business.”

The letter to shareholders also discloses $1.1 billion in promissory notes tied to the collapse of Three Arrows Capital. DCG also has a $350 million credit facility from a group of lenders led by Eldridge Industries.

According to Silbert, the company and its affiliates are stable. He adds that his company has “surpassed previous cryptocurrency winters” and is “coming out of it.” [this one] more powerful.”

Barry Silbert’s letter aims to calm shareholders’ nerves. This comes amid concerns about the relationship with broker Genesis amid the collapse of FTX.

Singapore is investigating Crypto Lender Hodlnaut for suspected fraud

Singapore white-collar crime investigators have opened an investigation into Singapore-based cryptocurrency lender Hodlnaut and its executives for suspected fraud and fraud.

according to reportsLaw enforcement in Singapore received several complaints between August and November. They worried Hodlnaut and its directors were faking the company’s exposure to a digital token — UST assumes.

The investigation is the latest legal action against Hodlnaut, which sought protection from its creditors earlier this year after losing about $300 million due to the Terra crash and an additional $13.5 million to FTX.

The investigation will be conducted under Sections 417 (non-aggravated fraud) and 424a (fraud by false representation). It can attract up to three years and a fine, or either (417) and up to 20 years in prison, a fine, for both.

The investigation into Hodlnaut’s operations highlights increased scrutiny in the crypto industry due to the collapse of projects this year.

Stalked Ethereum Withdrawals Enter Testnet Phase, Price Retraces 10%

After more than two months since the merger of Ethereum, the JavaScript team of the Ethereum Foundation announce It will re-launch Shandong Testnet in the coming days.

When the testnet restarts, stack ETH withdrawals will be enabled. Ethereum developer Marius van der Wijden confirmed advertisement, states Ethereum customer teams have launched a multi-client developer.

The devnet for testing Beacon Chain withdrawals currently supports Geth, Nethermind, Lodestar, Teku, Lighthouse, and Prysm clients. It will also introduce many important upgrades and make changes to EVM functionality.

The news was received positively by the Ethereum community, especially the stakeholders. Ether (ETH) also jumped, gaining as much as 10% on the day to trade above $1,200 for the first time since November 20.

Ethereum (ETH) price chart 24 hours. source: CoinMarketCap

This step marks the beginning of the next important phase of the Ethereum network after the merger.

The Ardana stablecoin (dUSD) Cardano Ecosystem suddenly halts development

Ardana, the decentralized asset stablecoin (dUSD) liquidity pool that is being built on top of the Cardano network, halted the developments. It claims that this is due to “uncertainty in the funding and project schedule”.

Ardan was founded by Ryan Matovu in the first quarter of 2021 and is hailed as “the first all-in-one stablecoin ecosystem.” The team responsible for the project announced the halt in development on Thursday, November 24.

Ardana Labs explained that it was difficult to build on the Cardano network and that much of the funding went into “tools, infrastructure, and security.” The team notes that the code for the project will remain open source. Thus, other teams can build on it if they wish.

In response, the SundaeSwap receipt to Ardana to purchase any infrastructure or in-house tools developed in the past year. A closely related project, Orbis, which aims to address Cardano’s scalability, has also halted development.

It stalled after years of development, and after raising $10 million in October 2021 got the Cardano community to call the project a scam.





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