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Uzair Farooq

@uzairsmoke

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Uzair Farooq pfp
Uzair Farooq
@uzairsmoke
On Friday, blockchain security firm PeckShield flagged a suspicious $13.6 million fund outflow from BingX. The firm confirmed four hours later that the exchange had been hacked for $26.68 million in assorted cryptos, which Lookonchain reported included over 360 altcoins.
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Uzair Farooq
@uzairsmoke
BingX was compromised on September 20 at around 4 a.m. Singapore time when the exchange’s technical team detected “abnormal network access,” suspecting a hacker had breached its hot wallet. While the platform initiated its emergency plan “immediately,” security experts flagged a significant loss from the attack.
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Uzair Farooq
@uzairsmoke
Crypto exchange BingX commits to a user compensation plan following a multimillion-dollar hack on its hot wallet
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Uzair Farooq
@uzairsmoke
Each of these services tends to come with its own unique functionalities and benefits. While OpenSea has a higher average price point, it’s also home to many more active traders. MOOAR, on the other hand, is cheaper but features less liquidity.
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Uzair Farooq
@uzairsmoke
There’s even a hearty selection of crypto and blockchain-based games to show just how far-reaching these apps have become. These can range from fun and casual social simulators with built-in crypto integration to play-to-earn style experiences that reward users for the time they spend in the game
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Uzair Farooq
@uzairsmoke
Uniswap is another popular DEX that has gained enormous popularity over the years due to its absence of listing fees and its governance token, which gives the community the power to vote on future updates and additions.
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Uzair Farooq
@uzairsmoke
Though Bitcoin ushered in many key ideas and concepts that have been embraced in the modern crypto industry, it was actually Ethereum (ETH) that introduced dApps to the world.
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Uzair Farooq
@uzairsmoke
They’re not too dissimilar from traditional applications that many of us use in everyday life, such as Facebook Messenger or PayPal, for example.  The key difference to remember is that dApps, as the name implies, are decentralized. As a result, they aren’t controlled by a central authority or run on centralized servers. Instead, they function on peer-to-peer networks, removing the need for intermediaries.
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Uzair Farooq
@uzairsmoke
What I’m referring to here are dApps, applications that might look like your everyday app but that, due to their decentralized nature, can provide unique functions and services.
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Uzair Farooq
@uzairsmoke
Apart from Coinbase, Fairshake has bagged support from other industry participants. One notable contributor is XRP owner Ripple, who has donated $50 million to chart the campaign course.
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Uzair Farooq
@uzairsmoke
Considering the regulatory scrutiny fallen crypto mogul SBF faced from authorities for political campaign donations, Coinbase and other firms may potentially face legal troubles for their hefty contributions.
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Uzair Farooq
@uzairsmoke
Coinbase and other major industry figures’ funding of Fairshake Super PAC advocacy underscores their commitment to strengthening and contributing to the eradication of anti-crypto policies to promote a more favorable environment for the industry.
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Uzair Farooq
@uzairsmoke
Other firms, including Kraken, Gemini, Andreessen Horowitz, and ARK Invest, have also contributed to PAC, openly advocating for a change in leadership to support the industry.
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Uzair Farooq
@uzairsmoke
On Monday, June 3, 2024, America-based crypto exchange Coinbase became the latest to make a contribution to the Crypto Political Action Committee (PAC), Fairshake.
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Uzair Farooq
@uzairsmoke
The frequent clashes between crypto and regulatory authorities in the United States have given rise to increased calls for more policies and lawmakers that support financial innovation. Championing this course, the pro-industry political advocacy group Fairshake Super PAC has garnered support from major crypto scene players.
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Uzair Farooq
@uzairsmoke
Coinbase’s donation brings the total raised by Fairshake Super PAC to $160 million, which was contributed by several major industry players.
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Uzair Farooq
@uzairsmoke
Crypto exchange Coinbase has upped its political crypto advocacy donation to Fairshake Super PAC by another $25 million.
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Uzair Farooq
@uzairsmoke
Explore DailyCoin’s trending cryptocurrency news: MicroStrategy Seeks to Raise $500M for More Bitcoin Acquisition FOMC’s Rate Cut U-Turn Sparks $200M Crypto Liquidation Spree
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Uzair Farooq
@uzairsmoke
Joe Biden’s archnemesis, Donald Trump, has also switched his Bitcoin stance from negative to positive after initially declaring it “an enemy to the dollar.”
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Uzair Farooq
@uzairsmoke
Blockchain technology and crypto are becoming one of the hottest topics in this U.S. presidential election. Openly discussing crypto’s impact and adoption would smoother worldwide crypto adoption, as the United States usually sets global financial trends.
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