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Ankr Becomes an RPC Provider to Ethereum L2 Scaling Solution Optimism

Albert Brown
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Ankr Becomes an RPC Provider to Ethereum L2 Scaling Solution Optimism

 

Ankr, one of the world’s fastest-growing Web3 infrastructure providers, is thrilled to announce that it has become an RPC (Remote Procedure Call) provider to Optimism, a blazing-fast and low-cost Layer-2 scaling solution for the Ethereum blockchain. Following this partnership, Ankr is now an RPC provider to 17 blockchains including Ethereum, BNB Chain, Solana, and Avalanche.  An RPC enables various applications to interact with the blockchain.

Ankr Protocol serves an average of six billion blockchain requests per day across more than 50 networks. Ankr delivers time-tested and high-performance RPC node infrastructure to handle any request load, massively expanding Optimism’s public RPC resources.

“Apps and integrations choose to build in the Optimism ecosystem because they feel aligned with our values and culture and appreciate the tooling and technical options available to them,” said Matthew Slipper, Head of Engineering at OP Labs. “In response to requests from our community, we’re excited to offer Ankr as an additional Optimism RPC provider.”

Optimism uses optimistic rollups to bring scalability to Ethereum. By submitting the transaction data to Ethereum while performing transaction processing off-chain, Optimism can significantly reduce fees and increase throughput while inheriting Ethereum’s security properties. Optimism has saved users more than a billion dollars in gas fees since its inception.

“We love what Optimism is building for the future of Ethereum. Ankr is happy to do our part to provide a fast and reliable RPC service for their users,” said Greg Gopman, the Chief Marketing Officer at Ankr.

This partnership is also a major boost to dApp developers looking for additional Optimism RPC endpoints. Developers can access Optimism Public and Premium RPCs, make request calls, and query on-chain information that mirrors the results of running a self-hosted Optimism full node.

To strengthen the global Optimism network, Ankr is providing a geo-distributed and decentralized Optimism RPC composed of many independent blockchain nodes running worldwide for low-latency and reliable connections. Ankr will incentivize independent and enterprise Optimism node operators to add their nodes to the load balancer in return for ANKR tokens.

Optimism is a leading open-source Ethereum Layer 2 scaling solution. Its Optimistic Rollup network is designed to utilize the strong security guarantees of Ethereum while allowing apps to achieve faster and cheaper transactions. Optimism has saved users more than a billion dollars in gas fees since its inception. It boasts over $800 million in total value locked across apps like Synthetix, Uniswap, Perpetual Protocol, Curve and Aave.

Ankr helps blockchain companies run their blockchains faster, enabling them to offer users the best Web3 experiences. Launched in 2021, the Ankr Protocol serves 200 billion RPC requests a month across 50 blockchain networks. In 2022, Ankr added the Web3 gaming SDK, multi-chain liquid staking tools, and App Chains to its developer product suite.

Famous Youtuber And Trader Ben Armstrong Bringing A Class Action Lawsuit Against Celsius And Its CEO

Mark Brennan
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Famous Youtuber And Trader Ben Armstrong Bringing A Class Action Lawsuit Against Celsius And Its CEO

Ben Armstrong, a famous crypto trader with a Youtube following of 1.45M and a Twitter following of 851K, is going to file a case against Celsius.



Over the last few days, the Celsius Network has experienced a hard hit on its crypto ecosystem. The fall of Bitcoin has forced the company into taking on more DAI debt to prevent liquidation. Now, the company is facing even more backlash from its own user base as one of the most popular entities and investor moves to take Celsius to court.

In a tweet, investor and YouTuber Ben Armstrong announced the decision to file a class action lawsuit against the Celsius Network and its founder and CEO, Alex Mashinsky. He claims that the company is scamming people, with him being among the affected.

 

Can’t Use Account balance To Settle Debts

According to Armstrong, his account at Celsius has enough funds to pay off debts, but the company wants him to send them more money for the same purpose.

“Imagine an insolvent company that you can’t withdraw your money from ASKING YOU TO SEND THEM MORE MONEY. Literally defies logic. So you may be asking yourself the question, “why would they not let you pay off the loan with money/crypto/stables that are already in your account?”

Basically, his funds are frozen. For this reason, Armstrong is wary of sending an already insolvent company any more money. He claims that the company is heading into bankruptcy and that the money claimed to be in the account isn’t really there.

“Great and logical question. Glad you asked. IT’S BECAUSE THEY ARE TOTALLY INSOLVENT. The money that shows in our account isn’t actually there. That’s the only reason we can’t use it. It’s not there. And these idiots have the audacity to think that we are going to send more?

This is a PURE SCAM to try to bring in fresh money from users to pay off loans. You see, once Ethereum hits a certain number, we get liquidated and lose all of our collateral against the loan. So they are trying to take advantage of fear in the market to pad their pockets.”

Apparently, Celsius has the liquidation for their largest position at $16,500 BTC price. Armstrong is of the opinion that the liquidation will happen soon.

“As they head towards bankruptcy. Make no mistake about it, at this point now that I see their game, it’s only a matter of time before their biggest position gets liquidated at ~$16,500 for $BTC. That’s coming. They know it. As that gets closer, they are pulling out all the stops.”

A few days ago, Celsius announced a stoppage of all withdrawals, swaps, and transfers. According to Armstrong, this is a scam because they’re literally holding people’s money hostage.

The Lawsuit

Ben Armstrong’s decision to file a class action lawsuit has resonated with many in the crypto market who feel it’s the right decision. As a matter of fact, Armstrong is confident that his lawsuit, as well as action taken by other relevant authorities like the US SEC, is bound to succeed in punishing Celsius and its CEO for their misdeeds.

 

Terra Influencer FatMan Spots Loopholes in Coindesk Korea Report Accusing TerraForm Labs Crashing UST and LUNA

Lele Jima
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Terra Influencer FatMan Spots Loopholes in Coindesk Korea Report Accusing TerraForm Labs Crashing UST and LUNA

The popular whistleblower has come to the defense of TFL, as he identifies a major loophole that makes the Coindesk Terra report false.


Popular Terra influencer who is known by the pseudonym, FatMan has berated the report published by Coindesk Korea and Uppsala Security, which accused TerraForm Labs (TFL) of being the owner of the wallet that caused the collapse of its ecosystem tokens UST and LUNA.

FatMan: Coindesk Report Is Untrue

FatMan took to Twitter to disclose the loopholes he discovered in the report, thus declaring the so-called investigation conducted by Coindesk Korea and Uppsala Security false.

Recall that Coindesk Korea published a report accusing TFL of being linked to the wallet that conducted the transactions, which deliberately caused the de-pegging of Terra USD (UST) as a result the coin plunged massively. FatMan dismissed the report, saying it is untrue and “nonsense.”

“The news is wildfire. It’s already big in Korea, and the data found is being used by Korean prosecutors. It’s on Huobi Global as well. But, I found a major hole in their report (based on research from Uppsala Security, a chain analysis firm) making the whole thing untrue,” FatMan said.

While highlighting the conclusion of the Coindesk report, FatMan stated that the wallet referred to as the LUNC DAO wallet does not belong to Terra, adding that the address cited in the report is a hot wallet on KuCoin.

The popular Terra whistleblower noted that it is obvious that the two addresses are not linked by the mere virtue of receiving funds from the KuCoin cryptocurrency trading platform.

He added that his recent discovery proves that the report is sinister and has no solid proof backing it.

“I am disappointed that an outlet as prestigious as CoinDesk Korea would publish this without running basic checks,” FatMan concluded.

FatMan Previously Accused Kwon of Cheating

Meanwhile, FatMan had recently accused Do Kwon, the founder of TFL, of being the owner of a mystery wallet that has over 20 million $LUNA coins.

FatMan alleged that the Terra founder had been using the wallet to vote on proposals created on Terra to ensure things go in his favor at the expense of the community.

Terra and Kwon have been under widespread scrutiny in recent times for their roles in the collapse of $LUNA and TFL. The Terra boss was recently alleged to have cashed out over $2 billion weeks before Terra crashed.

However, Kwon has denied all reports indicting him and his company, saying TFL is focused on making investors whole and would not like to be distracted by negative reports.

TronDao To Withdraw 2.5B TRX From Binance, Will Justin Sun Be Able To Save Tron & Protect USDD From De-Pegging

Mark Brennan
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TronDao To Withdraw 2.5B TRX From Binance, Will Justin Sun Be Able To Save Tron & Protect USDD From De-Pegging

TronDAO Deploys More Collateral As USDD Stablecoin Is Increasingly Pressured To De-Peg and Tron (TRX) is feeling the heat of stable coin depegging.



TRON and TronDao are trying hard to maintain the USDD peg by throwing lots of money at it, but is it working?

Tron’s stablecoin, USDD, has come under pressure to de-peg from the USD of late. Meanwhile, Justin Sun and his company, TRON, have moved to transfer billions of dollars in collateral and inject it into the market to maintain the USD peg. This started when the stable coin lost its peg as the markets pulled back.

As recently, another stablecon, UST, that runs on the Terra network, collapsed. One major reason that led to the collapse of UST was the negligible collateral amount compared to the coin’s market.

However, in the case of Tron’s USDD, the stablecoin is more collateralized than UST. That gives it a larger room for recovery but as the divergence continues in order to defend it, that collateral will have to be deployed. According to an update by TronDAO, USDD collateralization totals over 300%.

USDD is trading a $0.9651 according to Coinmarketcap, down almost 6% from $1.00.

usdd depegging

TRX In Trouble

Besides USDD, Tron’s other coin, TRX, has equally been affected by the current market conditions. The TRX market has been in trouble just like the rest of the crypto market. According to available data, TRX has been struggling to fend off a severe bearish attack. A close of below $0.057 would be bad for the coin as it would give way for a further slump to $0.016. At this moment, TRX is trading at around $0.049.

 

More Collateral Injected

As was the case for Terra’s UST, Tron needs to deploy more collateral to save USDD from a potential de-peg and price crash. The company is already doing that.

Initially, TronDAO had set aside $2 billion for the injection, but that amount has now increased.

A recent update by Justin Sun informs that a further $650 million has been injected, bringing the total collateral to $2.5 billion – at the time.

 

Now, another $500 million has been deployed to maintain the USDD peg. The funds were deployed in form of USDS. It seems that TRON is prepared to do everything it can to prevent the collapse of its vast ecosystem.

Moves To Save Tron

Tron Dao also transferred $100M USDC to Binance to purchase TRX.

to further protect Tron, the foundation will withdraw 2.5B coins from Binance.

 

Now we should wait and see whether Tron founder be able to save his reputation and his currencies (TRX and USDD) from becoming LUNA and UST, only time can tell.

Users Warned About Tron And USDD

The threat of a potential collapse of the TRON ecosystem has put some exchanges on high alert, leading them to inform their user base of the prevailing uncertain conditions.

One South Korean exchange, UpBit, has already warned its users about the apparent fluctuation of USDD value after the recent brief de-peg.

In the case of South Korean-based exchanges, it’s understandable that they would try to take some action to avoid getting into trouble in the event of a market collapse.

It appears that the collapse of Terra, and the subsequent legal issues facing the developer company, TFL, and founder Do Kwon, may have sent a warning to crypto entities to be vigilant during such events. Do Kwon and TFL are based in South Korea. South Korean authorities are also taking steps to regulate the crypto industry more stringently.

Ledger To Enable Buying ADA Directly from Ledger Live App Along With Staking Feature And Supporting Cardano Native Tokens

Mark Brennan
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Ledger To Enable Buying ADA Directly from Ledger Live App Along With Staking Feature And Supporting Cardano Native Tokens

Ledger reiterates its commitment to supporting the Cardano project. 


The team behind popular cryptocurrency hardware wallet Ledger has announced that it will be expanding Cardano’s support very soon.

According to a Twitter space held yesterday by the Ledger team, Fabrice Dautriat, the Head of Platform at Ledger disclosed that Cardano enthusiasts will soon be allowed to purchase ADA, the native crypto of Cardano, directly from the Ledger Live application.

Dautriat noted that the upcoming feature will be an expansion of the already existing offering of the Cardano project on Ledger, which also includes users’ ability to send and receive ADA.

Ledger’s head of platform also noted that the popular cryptocurrency hardware wallet will also add support for digital currencies based on the Cardano blockchain.

“You can now send/receive ADA and you can also buy ADA from the buy section from Ledger Live (coming very soon). We also want to support Cardano native tokens on Nanos. We’re looking at other features such as staking,” Dautriat said.

While Ledger is yet to fix a date for the full rollout of the initiative, the Cardano community is excited about the development because it would further bolster the widespread adoption of the cryptocurrency.

Ledger Support Cardano Project

It is worth noting that Ledger has supported Cardano before its announcement. Ledger developers recently rolled out an update to the wallet that enables support for smart contract functionality.

The announcement reiterates Ledger’s commitment to supporting the Cardano project. At the moment, Ledger users can now add more than one Cardano account to their hardware wallet, and the service is available on smartphones and PCs.

“Cardano was a BIG project for us. We went through a proposal phase to present to the community why the integration was relevant,” Dautriat said.

With Over 1 Million Users, Argentina-based Ripio App Hints the Potential Listing of Shiba Inu

Zabi
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With Over 1 Million Users, Argentina-based Ripio App Hints the Potential Listing of Shiba Inu

 

Argentina-based Ripio App seems to be interested in listing Shiba Inu (SHIB).



Ripio App, a bitcoin and digital payments company that provides electronic payment solutions for businesses in Latin America, might become the first Argentina-based exchange to list Shiba Inu on its platform.

This potential listing will allow over 1 million users of the Ripio App to trade the Dogecoin’s rival, the Shiba Inu token. It will also enable Ripio users to send and receive the most popular dog-themed cryptocurrency anytime, anywhere in the world.

While posting a reply to one of the random members of the Shiba Inu Community, Ripio App hinted at the potential listing of Shiba Inu on its platform.

A few hours back, one of the members of the Shiba Inu Community posted a tweet and asked Ripio App to add Shiba Inu to their platform. The member also has attached a photo banner with a message written in Spanish to grab the exchange’s attention. The message is translated as, “Hey Ripio, you’re missing on SHIB as Latin America needs it and your users might love to see the addition.”

The tweet got a response from the official Twitter account of Ripio App which contains a GIF image of a Shiba Inu dog flying to the moon “like a rocket”. The tweet contains the following caption: “Not going, arriving.”

The development comes after Dogecoin’s rival gets coverage from one of the Argentina Top Rated FM Channels named “Urbana Play 104.3 FM” on June 10th, 2022.

Ripio App, formerly known as BitPagos is an Argentina-based financial company that offers the simplest method to buy and sell all major cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), USD Coin (USDC), and many others along with electronic payment solutions for businesses in Latin America.

The platform provides a digital wallet facility to the merchants, allowing them to receive their payments in local currency or bitcoins. Along with a digital wallet facility, the platform also offers a credit line requisition amenity to finance payments in installments, enabling traders to easily trade in bitcoin through their digital wallet.

The data compiled from a few trusted sources shows that Ripio App now has over 1 million registered users.

SEC v. Ripple: SEC Ordered to Submit 10 Documents to Aid the Court’s Decision Regarding William Hinman’s Speech

Mark Brennan
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SEC v. Ripple: SEC Ordered to Submit 10 Documents to Aid the Court’s Decision Regarding William Hinman’s Speech

The court is close to reaching a conclusion on Hinman’s 2018 speech as it orders the SEC to submit 10 documents to guide its decision.


Judge Sarah Netburn, one of the presiding judges in the Ripple v. SEC lawsuit, has ordered the Securities and Exchange Commission to submit 10 additional documents that will support its decision on the attorney-client privilege claim over the William Hinman document.

The SEC is required to submit 10 documents for in-camera review by June 16, 2022, the court’s order reads.

SEC’s Recent Claim Contradicts the Previous

Per a recent court order, prior to the SEC’s recent attorney-client privilege over Hinman’s document, the Securities and Exchange Commission was previously ordered to submit 10 exemplar documents for in-camera review.

This was in connection to the agency’s partial reconsideration request for the court’s January 13, 2022 order. However, upon filing a new motion seeking to protect Hinman’s documents on the grounds of attorney-client privilege, the SEC sought to withhold the exemplar documents as well as others filed in its February 17, 2022 motion for partial reconsideration.

Judge Netburn noted that the Court has reviewed the previous 10 exemplar documents in the context of deliberative process privilege (DPP) and has not done the same for others.

“To facilitate the court’s review of the communications to which the SEC claims attorney-client privilege applies, by June 26, 2022, the SEC may submit 10 additional documents listed in Attachment 1 for in-camera review,” an excerpt of the court’s motion reads.

SEC’s Quest to Protect Hinman’s Documents

The development comes as the Security and Exchange Commission continues to make efforts to protect the document of its former Director of Corporation Finance from being used as evidence in the Ripple lawsuit.

Despite the court ordering the SEC to surrender the Hinman documents to Ripple, the agency blatantly refused the order, making claims on why the agency should not be requested to surrender the documents.

The SEC’s latest reason for why Hinman’s documents should not be used in the lawsuit is on the basis that the former Director of the agency’s Corporation of Finance discussed with some attorneys at the SEC before formulating the speech.

Ripple and XRP Holders Oppose the SEC’s Motion

Ripple, as well as many XRP enthusiasts, have slammed the SEC over its attorney-client claims, thus prompting the court to invite both parties to a conference last week to discuss all issues surrounding Hinman’s documents.

Although no decision was made at the conference, the blockchain company and its enthusiasts are optimistic that the court’s decision regarding Hinman’s speech will be in favor of the blockchain company.

However, attorney John Deaton, who recently requested to represent 67,300 XRP holders in the upcoming Daubert challenge, noted that the agency would rather opt for a settlement with Ripple instead of surrendering Hinman’s document.

Sen. Cynthia Lummis: ‘We Can not Regulate 21st Century Bitcoin With 20th Century Regulations, We Must Upgrade’

Mark Brennan
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Sen. Cynthia Lummis: ‘We Can not Regulate 21st Century Bitcoin With 20th Century Regulations, We Must Upgrade’

 

Sen. Lummis Says We should Be Regulating Crypto The 21th Century Way.



U.S. Senator Cynthia Lummis has just shared a Twitter saying that a whopping 34 million Americans claim to have digital assets of some kind. She added we are trying to regulate this 21st-century technology with 20th-century regulations. It’s time for an upgrade, and the Lummis-Gillibrand plan accomplishes that.”

 

This is in reference to the widely anticipated comprehensive cryptocurrency law proposed by Lummis. The particulars of the proposed legislation will very certainly reveal who the influential players are in the ever-expanding world of cryptocurrency lobbying.

Already, it has been the reason for disagreements between the expanding number of trade groups in the business, all of which are supported by rival digital asset firms.

Aides working in both members’ offices have been inundated with recommendations on how to address various issues, including tax policy and rules governing cryptocurrency exchanges.

Lummis, who has had Bitcoin since 2013, said that in the event that the bill is turned into a law, it would differentiate between commodities, securities, stablecoins, digital currencies issued by central banks, and non-fungible tokens (NFTs).

The new regulatory bill was proposed to make the Commodity Futures Trading Commission (CFTC) the major regulator of the business on June 7, when it was presented for the first time by Senators Cynthia Lummis and Kirsten Gillibrand. 

This has been advocated by industry leaders and governments who are pro-innovation since it would result in many assets being categorized as commodities rather than securities like business stocks. Michael Saylor, the CEO of MicroStrategy, is her main adviser for the project, and he is known for openly believing that Bitcoin is a commodity, not security.

Gary Gensler, the chairman of the Securities and Exchange Commission (SEC), was quick to raise reservations over the newly proposed crypto legislation, stating that it might undercut the controls that are now in place for the larger industry. 

184 Million Shiba Inu Burnt In One Transaction, 239 Million in 24 hours

Zabi
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184 Million Shiba Inu Burnt In One Transaction, 239 Million in 24 hours

 

Shiba Inu Community Destroys 239.53 Million SHIB as 1Cent Token Contributed the most in the Burns in the Past 24 Hours.



Over 239.53 Million Shiba Inu (SHIB) and 801 Bone ShibaSwap (BONE) have been moved out of circulation forever by the Community in the past 24 hours. 1Cent token is recognized as the “Top Burner of the Day.”

The global crypto market is undergoing a difficult time as the crypto market plunges below the $1 trillion mark for the first time since January 2021. Shiba Inu supporters find this difficult time as an opportunity to throw away billion of Shiba Inu tokens from circulation forever at lower costs.

SHIB Community continues to burn millions of Shiba Inu (SHIB) per day, making the total supply scarcer over time.

According to the recent tweet from the SHIB Burn tracking platform, Shibaburn.com, Shiba Inu Community unites to incinerate a total of 239,535,584 (239.53M) SHIB through eleven separate transactions.

1Cent Token Recognized as “Top Burner of The Day”:

1Cent, the only token dedicated to burning the two of the tokens of the Shiba Inu ecosystem, i.e., SHIB and BONE, made the most significant burns in the past 24 hours, as the major SHIB Burner project sent 184.49 million SHIB and 801 BONE to a dead wallet in two separate transactions.

1Cent token organized its Weekly Burn Event on Tuesday, June 14th (Tuesday). Through this event, the team behind the token moved out a total of 184,495,831 (184.49M) SHIB, worth only $1,480, from circulation forever in one significant transaction.

At the same time, the project carried out another noteworthy transaction through which a negligible total of 801 Bone ShibaSwap (BONE), the governance token of the Shiba Inu ecosystem, were burned.

Soon after organizing the Weekly BURN EVENT, the team updated the total number of Burn SHIB tokens and BONE on its official website. The website states that the 1 cent has sent a whopping total of 2,494,595,454 (2.49B) SHIB through 15 separate transactions to dead wallets since March 14th, 2022.

1Cent is the only project that burns not only SHIB but also BONE. The team burnt Bone ShibaSwap for the first time on April 25th, 2022. Since then, the project has permanently removed 43,560 BONE from circulation through 8 separate transactions.

Readers should note that the 1Cent token is an individual project with no official association with the Shiba Inu ecosystem.

El Salvador President Nayib Bukele: “You Are Telling Me To Buy More Bitcoin?”

Mark Brennan
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El Salvador President Nayib Bukele: “You Are Telling Me To Buy More Bitcoin?”

 

El Salvador President Nayib Bukele Responds To Finance Minister Saying Bitcoin Investment Doesn’t Affect Their Economy.



The president of El Salvador, Nayib Bukele, tweeted in response to a story that El Salvador’s finance minister had said that the bitcoin decline only represents a tiny fraction of their national budget “You’re telling me we should buy more #BTC?”

 

The government of El Salvador has shown a level of enthusiasm for the cryptocurrency known as Bitcoin that is unmatched by any other nation. Last year, the government announced that the cryptocurrency would be recognized as a kind of legal cash. However, El Salvador’s investment is swiftly losing value as the market for cryptocurrencies begins to level down.  

On Monday, Alejandro Zelaya, El Salvador’s Minister of Finance, allayed thoughts that a sudden drop in the price of Bitcoin would not significantly influence the nation’s fiscal health.

As Reported By TheCryptoBasic, the net worth of the country’s bitcoin assets has recently plummeted by almost $40 million. In his statement, Zelaya said that forty million dollars do not even represent one-half of our country’s overall budget. He mentioned this in reference to the national general budget.

The whole cryptocurrency market, which saw significant expansion during the global pandemic, has seen a considerable decline in recent months. The value of one bitcoin dropped below $22,000 on Monday, marking the point at which it has been trading at its lowest level since December 2020.

President Nayib Bukele is a strong supporter of Bitcoin. He has a habit of buying bitcoin dips. In September last year, he gave a piece of trading advice; “They Can Never Beat You If You Buy The Dips.” Let’s see whether he will be repurchasing the current bitcoin dip to leverage the $40M loss they are suffering on their current BTC holdings.

The government of El Salvador has invested in 2,301 units of Bitcoin since September of last year. Bitcoin’s price at press time is $21,254, and the global crypto market cap is worth $901 billion.

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