polygon
Reddit co-founder and Polygon launch $200M Web 3.0 social media initiative
On Friday, Polygon and Alexis Ohanian’s venture capital firm, Seven Seven Six, announced a $200 million initiative backing projects operating at the intersection of social media and Web 3.0. The initiative will focus on gaming applications and social media platforms built on Polygon’s infrastructure. Ohanian co-founded Reddit in 2005, left in 2010 and returned as executive chairman in 2014 to lead a turnaround before resigning in 2020. He has been a seed investor in several prominent tech and blockchain firms such as Coinbase, Instacart, Sky Mavis — the developer of Axie Infinity — and Patreon. As an Ethereum scaling solution, Polygon’s ecosystem has expanded rapidly this year, with over 3,000 decentralized applications built on its network. Earlier this month, Polygon announced...
AscendEX loses $80M following ERC-20, BSC, Polygon hot wallet compromise
Crypto trading platform AscendEX suffered a loss of $77.7 million in a hot wallet compromise that allowed hackers to access and transfer tokens hosted over the Ethereum (ETH), Binance Smart Chain (BSC) and Polygon (POLY) blockchains. Soon after realization, AscendEX proactively warned its users about the stolen funds, confirming that the hackers were not able to access the company’s cold wallet reserves. 22:00 UTC 12/11, We have detected a number of ERC-20, BSC, and Polygon tokens transferred from our hot wallet. Cold Wallet is NOT affected. Investigation underway. If any user’s funds are affected by the incident, they will be covered completely by AscendEX. — AscendEX (@AscendEX_Global) December 12, 2021 According to PeckShield, a blockchain security and data analytics company, around $60...
5 times quickfire crypto traders bought the news for double (or triple) digit profits
Why do crypto traders “buy the rumor, sell the news”? Simple. Because whispers of exchange listings or big-name partnerships reach very few people… while an article in Cointelegraph can reach hundreds of thousands of crypto enthusiasts in seconds. While insiders are quietly amassing tokens on rumors, the rest of us are completely ignorant of what may be coming. But with rumors, there are no guarantees. Which can lead to disappointment and serious loss of investment for those traders who gamble that they’re true… and end up wrong. So how can you possibly compete with thousands of other market participants when important news actually breaks? You’d have to be one of the very first to know in order to catch the price before it spikes. Look at the examples below — the time between a closely-gu...
