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#NewsFridayDigiFinex 2020 Week 8

Crypto Exchange


Get the latest crypto news of the week with #NewsFridayDigiFinex!

On this week:

Co-Founder of Bloomberg & 2020 Presidential candidate Michael Bloomberg, Propose To Create A New Crypto Financial Regulation Plan

[Photo by: Elise Amendola, The Times Of Israel]

Although Bloomberg joined the election slightly later, he poured millions of dollars into his presidential campaign. He also published a new financial regulation plan that would hopefully provide a higher consumer protection for the blockchain users and exchanges through the use of regulation framework .

Source: Coindesk

Hacker Stole $360,000 ETH Using Flash Loan From Four Different Crypto Exchange

[Photo by: Eftakher Alam, Unsplash]

Loan without a credit card? Although flash loans sounds too good to be true this system may have opened some loopholes for itself! A hacker managed to earn himself a whooping  $360,000 ETH in just 7 steps from a chain flash loan operation within different exchanges! 

Source: Trustnodes

$130 Million USD Worth Of Crypto Assets Lost In Crypto Exchange, Halts Tradings and Withdrawals

[Photo by: Micheile Henderson, Unsplash]

The crypto exchange FCoin founded by ex-Huobi CTO Zhang Jian, announced that they are currently unable to process user transactions. Zhang mentioned in a blog post on Monday stating that now FCoin is insolvent and there is an estimation loss of about 7,000 to 13,000 Bitcoins. 

Source: FCoin

Samsung Steps Foot Into Crypto and Sets A New Platform For Crypto Security

[Photo by: Jonas Leupe, Unsplash]

Samsung has officially released its latest smartphone series & it comes with their improved cold wallet! Users can link their Samsung Blockchain Keystore app to their crypto wallet for more security. Samsung has also voiced its interest in developing blockchain & plans to roll out its Knox platform into the global network.

Source: Forbes

Korean Blockchain Startup Contents Protocol (CPT) Announced Company Liquidation and Asset Distribution

[Photo by: Asia Blockchain Review]

Contents Protocol (CPT), once a popular Korean blockchain startup that raised a total of 29,334 ETH via an ICO and private token sale in 2018, announced they had decided to put a stop to their business and return the remaining assets to CPT token holders. According to their announcement, Contents Protocol had faced “numerous difficulties in encouraging participation from content consumers because of their negative perception toward cryptocurrency, price volatility and complex user experience.” 

Source: https://contentsprotocol.io/

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From 2020 to now, many public blockchains such BSC, Solana, Polkadot, and Avalanche raced to take over ETH’s users and market. Their advantages on low gas fee and quick transaction time made ETH eager to release effective Layer2 program to expand the capacity. Since Arbitrum was released, its ecosystem grew up rapidly and already owned many mature and popular featured projects on different race tracks.

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Fil Mooned Right Away After I Sold It. Am I One of the Weak Hands?

“Fil mooned right away after I sold it. I am the weakest hand in the crypto world.” said one of my friend who has been trading cryptocurrency for many years. He is a user during the public sale and bought FIL at the price of $2. After the FIL is unlocked, he sells coins wildly every day. But even so, he still hates the slow process of unlocking, so he directly sold all the publicly purchased Fil at the price of dozens of dollars.

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