Daedalus Wallet is a cryptocurrency wallet designed specifically for the Cardano blockchain. It is the official wallet for storing ADA, the native cryptocurrency of the Cardano platform. Daedalus is a full-node wallet, which means it downloads and locally stores the entire Cardano blockchain, providing users with increased security and control over their funds.
Benefits of Daedalus Wallet:
Security: Daedalus is a full-node wallet, which means it downloads and verifies the entire Cardano blockchain. This enhances security by reducing reliance on third-party servers.Control: Users have full control over their private keys, ensuring that they have ownership and access to their funds.Staking: Daedalus allows users to participate in the Cardano network’s proof-of-stake consensus mechanism by staking their ADA. Staking rewards are earned by supporting the network’s security and functionality.User Interface: Daedalus provides a user-friendly interface, making it easy for users to manage their ADA holdings, delegate to staking pools, and view transaction history.Compatibility: Daedalus is available for Windows, macOS, and Linux operating systems, providing broad compatibility.
Disadvantages of Daedalus Wallet:
Blockchain Download: The initial blockchain download can be time-consuming and resource-intensive, as it requires users to download the entire Cardano blockchain.Resource Requirements: Running a full node wallet like Daedalus may require a significant amount of disk space and computational resources.Learning Curve: For beginners, the full range of features in Daedalus may have a learning curve, especially for those unfamiliar with cryptocurrency wallets and blockchain technology.
Main Use in Detail:
The main use of the Daedalus Wallet is to securely store and manage ADA, the cryptocurrency native to the Cardano blockchain. Users can send and receive ADA, delegate their holdings for staking, and participate in the Cardano network’s consensus mechanism. The wallet’s full-node nature enhances security and decentralization.
One notable feature is the ability to delegate ADA to staking pools directly from the wallet interface, allowing users to earn staking rewards and support the Cardano network without relying on external services.
Overall, Daedalus serves as a comprehensive and secure wallet solution for users deeply involved in the Cardano ecosystem, offering features beyond basic transaction capabilities.

The CEO of Curve addresses the misunderstandings surrounding the UwU Lend breach and CRV token burn, providing a comprehensive overview of preventative measures and the repayment of bad debt.
Michael Egorov, the CEO and proprietor of Curve Finance (CRV), has commented on the recent UwU Lend breach, stating that the incident did not involve Curve Finance.
Egorov clarified in a Q&A with Cointelegraph that “this was not a Curve exploit.” This was an exploit of a distinct initiative, UwU Lend, as explained:
“The perpetrator deposited CRVs seized from UwU to lend.curve.fi (LlamaLend) and vanished with the funds, leaving his debt in the system.”
Egorov emphasized the importance of implementing measures to prevent future exploits, suggesting that UwU Lend “re-verify all contracts and attach them to competent security auditors” in order to potentially recoup losses.
Egorov had initially suggested that 10% of CRV tokens, which were valued at $37 million, be burned in order to stabilize the token’s price and provide electors with an increased annual percentage yield, according to Cointelegraph.
He clarified the misunderstanding regarding the team’s destruction of 10% of CRV tokens during the succeeding Q&A session with Egorov.
A fake account tweeted this information, which was accompanied by a fraud link. A small number of journalists neglected to fact-check the news and instead published articles regarding the matter
On June 15, Egorov disclosed that he had compensated the $10 million in bad debt that was the result of gentle liquidations initiated by the UwU exploit.
“The circulating supply was likely 30% CRVs posted as collateral for loans, with half of that amount being on Curve. Consequently, it incurred some bad debt. Subsequently, it emerged. There is no impact on any individual.”
When Cointelegraph inquired about Curve Finance’s strategy for managing liquidation risks in chaotic markets, Egorov responded as follows:
“Data indicates that Curve-specific markets can be well-parametrized to withstand even these conditions, so it is likely advisable to implement borrow limits for non-major crypto (e.g., not BTC or ETH as collateral).”
Egorov stated the following regarding onchain arbitrage: “It seems that the industry’s leading figures were not entirely aware of how to manage liquidations; they did not seek to implement partial hard liquidations for my position on Curves. I ultimately had to handle the task independently.”
Egorov proposed the development of :
“open-source liquidation bots” and community education regarding liquidations in order to resolve the broader decentralized finance implications of the liquidation.”

Former President Trump took the stage at a San Francisco event organized by digital venture capitalists Chamath Palihapitiya and David Sacks to portray himself as the crypto sector’s savior while simultaneously criticizing Democratic Party measures to regulate the industry.
Reuters reports that the expensive fundraiser, which took place at Sacks’ home in the exclusive Pacific Heights area, brought in $12 million for Trump’s presidential campaign. The fact that Donald Trump has publicly acknowledged his support for the cryptocurrency industry—as the “crypto president”—was brought to the attention of those in attendance.
Amid heightened regulatory scrutiny, the Bitcoin business has made efforts to sway legislators in the US. The cryptocurrency sector is reportedly increasing its political activity in the days leading up to the US midterm elections, according to Bitcoinist.
The United States-based cryptocurrency exchange Coinbase is at the forefront of this movement, having contributed an enormous $25 million USDC to the Fairshake PAC. The advocacy organization seeks to support pro-crypto politicians like former president Donald Trump, and this is the digital asset platform’s second significant donation to that end.
There was a heightened focus from regulators after the 2022 bankruptcy of many large cryptocurrency firms, which exposed fraud and corruption and left investors with losses. In this setting, industry players work closely with government authorities to influence the rules.
Trump reportedly voiced his strong support for the bitcoin business and highlighted its significance at the San Francisco event.
He allegedly did not lay out his planned crypto policy in any great detail. On the other hand, President Joe Biden took a different approach in 2022 when he issued an executive order to promote the responsible development of digital assets.
The Biden administration is interested in working with lawmakers to create cryptocurrency regulations. In an executive statement, the Biden administration voiced its opposition to H.R. 4763, a measure that would alter the US regulatory framework for digital assets.
Prominent San Franciscan startup capitalists and cryptocurrency investors have backed Trump, despite the city’s mostly liberal atmosphere.
Many of them, according to Reuters, say that worries about overregulation are a major reason they’re endorsing it. According to Palantir advisor Jacob Helberg, Trump promised audience members that SEC Chair Gary Gensler’s anti-crypto campaign would stop “within the hour” of the second Trump administration taking office.
Coinbase executives and the Winklevoss twins, Tyler and Cameron, who founded the Gemini exchange, were among the notable attendees at the event.
Additionally, in May, former President Trump said that his presidential campaign would accept contributions in a variety of cryptocurrencies. The increasingly popular cryptocurrencies like Dogecoin (DOGE), Shiba Inu (SHIB), Ethereum (ETH), and Bitcoin (BTC) are now available to Trump campaign backers.
Currently, the market leader in cryptocurrencies, Bitcoin (BTC), has seen a price pullback to $69,160, which is a 2% decrease from yesterday’s price.

The UAE’s Central Bank has given its stamp of approval to a rule that will govern the licensing and oversight of stablecoins.
There have been rumors circulating that the UAE Central Bank has authorized a set of measures intended to strengthen the country’s banking, insurance, and financial services industries, as well as a legislation to regulate and monitor stablecoins.
As part of its Financial Infrastructure Transformation Program (FIT), the Central Bank also discussed CBDC, an acronym for “Central Bank Digital Currencies,” during the conference. This digital dirham is one component of CBDC. The Jaywan Domestic Card Scheme and the Instant Payments Platform (Aani) are two more FIT initiatives.
According to a report by EY (Ernst & Young) earlier this year, the Emirates Central Bank is getting its domestic CBDC up and running and is pushing for all UAE commercial banks and payment processors to take part in a trial integration with the UAE Central Bank node for digital Dirham issuance.
Vice President, Deputy Prime Minister, Chairman of the Presidential Court, and Chairman of the Central Bank of the UAE (CBUAE) His Highness Sheikh Mansour bin Zayed Al Nahyan presided over the meeting.
This gathering took place the day after the Dubai International Financial Centre (DIFC) Financial Services Authority likewise gave its stamp of approval to the use of stablecoins within its purview.
Stablecoins have recently arisen as a medium that combines the security of conventional banking with the potential for innovation in cryptocurrency. Stablecoins are digital currencies that are tied to a fiat currency, such as the US dollar, rather than other cryptocurrencies whose value might move greatly. The goal regarding this peg is to provide a more stable cryptocurrency asset inside the ecosystem.
The stablecoin ecosystem had a strong comeback in May 2024, with a market value of $161 billion, a gain of 0.63% from the beginning of the month. This is the peak since April 2022, after eight months of consistent increase, according to CCData.
There are new entrants to the field, including PayPal. Launched on the Solana blockchain around the tail end of May 2024, PayPal USD (PyUSD) was the company’s stablecoin. The Solana and Ethereum blockchains will both support the transfer of PyUSD. The stablecoin market is expanding at a fast pace, which is putting pressure on financial authorities to intervene.

U.S. President Joe Biden seems to have reconsidered his stance on cryptocurrency in light of the upcoming November elections.
It seems that his remarks and the acts of his administration on the subject have taken on a different tone this year (2024).
Actually, criptovalute seems to have had a very positive reception in the first two years of Biden’s presidency, from 2020 to 2022.
In March 2022, Biden issued the first executive order on cryptocurrencies to establish the first federal strategy on digital assets in the United States. For instance, as an illustration.
Some senators in the US were working on a measure to regulate the cryptocurrency industry at the same time as the US Congress.
But this first stage was due to the general agreement that the sector had gotten its hands on it in 2021 during the last big bull run, and that it was almost certainly going away.
The consensus shifted, and it seemed as if the Biden administration had changed its mind, beginning in May 2022, the month in which the infamous series of disasters initiated by the Terra/Luna ecosystem and ended in November with FTX started.
The Senate’s crypto regulation came to a standstill as his administration began to implement more stringent regulations on the cryptocurrency market.
The SEC’s full-scale war against cryptocurrencies, which often ended in actual losses, has defined this second phase.
Remember also that when the FTX story broke, it showed that Sam Bankman-Fried had donated a lot of money to US politicians, mostly Democrats, using the money that the exchange had stolen from its customers.
It was just a matter of time until Biden and the Democrats sought to separate themselves from that culture.
Things have altered after SBF’s conviction in 2024. It seems that the Democratic government of Joe Biden has changed its viewpoint after three events occurred in the last year.
One was the SEC’s legal loss in its case against XRP. The whole smokescreen that the SEC built around the cryptocurrency industry started to crumble the second the agency lost that lawsuit, even though many believed it might have won.
After that, in January of this year, the SEC lost yet another court fight involving spot Bitcoin ETFs; since then, the relationship between the US and crypto markets has changed dramatically. Sam Bankman-Fried’s conviction for fraud has finally put an end to the FTX issue.

MAR mining, the leading decentralized governance infrastructure, announced the completion of another US$100 million round of strategic financing, with participation from Nomad Capital, No Limit Holdings, Sky9 Capital, UOB-Signum Blockchain Fund, Interop Ventures, and 9 other well-known institutional investors.
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MAR mining is a leading cloud mining infrastructure focusing on decentralized governance and public goods technology. Its core products include flagship public goods staking infrastructure that enables blockchain incentive-driven ecosystem financing; MAR mining, an application chain that hosts contract protocols; privacy protection and contract mechanisms that democratize public goods financing.

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The BitGo case against Galaxy Digital may now proceed after the Delaware Supreme Court overturned a previous verdict.
In regards to their canceled $1.2 billion merger deal, BitGo reportedly gets a fresh chance to sue Galaxy Digital, according CoinDesk.
Earlier, a lower court had rejected BitGo’s $100 million case against Galaxy Digital, but the Delaware Supreme Court reversed that judgment.
The need for extrinsic evidence to settle the disagreement and the vagueness of the merger agreement’s wording were both highlighted by the Supreme Court’s May 22 ruling. The Delaware Court of Chancery had previously approved Galaxy Digital’s “clean termination right” in June 2023 because BitGo was late in delivering audited financial accounts for 2021, but this new verdict overturns that decision.
“We think justice triumphs on appeal, and we are thrilled to continue ahead with this matter in the Chancery Court,” said R. Brian Timmons of Quinn Emanuel, the legal firm that represented BitGo.
The BitGo lawsuit first surfaced in August 2022, with the accusation that Galaxy Digital had committed an “intentional violation” against the purchase agreement. In its lawsuit, BitGo demanded $100 million in damages, claiming that Galaxy’s decision to pull out of the transaction was not due to BitGo’s negligence but rather to financial problems caused by the crypto bear market. On the other hand, Galaxy insists that BitGo’s tardiness in delivering the required audited financial accounts was the only justification for its choice to terminate the merger.
As of August 2022, the merger that Galaxy CEO Mike Novogratz had announced in May 2021 was no longer going forward. Financial statement interpretation is at the heart of the disagreement.
At first, Vice Chancellor J. Travis Laster of the Delaware Chancery Court sided with Galaxy, pointing out that BitGo had submitted financial papers that did not comply. But the current decision by the Supreme Court found that financial statements are defined too vaguely, calling for more research and bringing the BitGo case back into the spotlight.

MicroStrategy’s inclusion in the MSCI World Stock Index brings attention to the significance of cryptocurrency. The performance of MSTR stock surpasses that of Bitcoin, which is regarded as a proxy for Bitcoin.
The widely-known cryptocurrency investment firm MicroStrategy is now a part of the MSCI World Stock Index. This change shows how crypto is becoming a regular part of people’s standard investing portfolios.
Everyone knows that MicroStrategy is a big believer in Bitcoin. The company’s decision to purchase Bitcoin with a significant amount of its financial reserves made news throughout the epidemic. They bought 214,400 BTC at an average price of $35,180 each.
The inclusion of this comes as MicroStrategy stock (MSTR) is experiencing a fantastic year. Its price has tripled since last year, far outpacing Bitcoin’s remarkable climb. During Bitcoin’s peak earlier this year, MSTR stock likewise saw a leap to new highs. Nevertheless, MSTR’s price fell more than 30% due to a recent market slump that prompted a retreat.
Prior to the introduction of spot Bitcoin ETFs this year, many investors saw MicroStrategy stock as a means to indirectly own Bitcoin. When it comes to providing Bitcoin exposure via the stock market, MicroStrategy may face competition from these new investment vehicles. On top of that, there are analysts who have gone short on the company because they think it’s too expensive right now.
Regardless of these reservations, the general opinion among analysts is still good. There is still room for growth in the market for MSTR, as the average 12-month price objective is approximately 30% higher than where it is now. Joining the MSCI index solidifies the company’s standing in the stock and cryptocurrency markets, where digital assets are merging with conventional ones.

FanTV, leading socialFi app with more than 4 mn users, has partnered with Mysten Labs to bring mass adoption to web3FanTV aims to onboard over 100,000 creators and 10 million users in the next 12-18 monthsSui with impeccable qualities – high TPS, low gas fees, high scalability – is perfect for FanTV’s high-volume needs
Dubai, 7th May 2024 – FanTV is a web3 SocialFi app, poised to disrupt the content creation and consumption market via its unique watch-to-earn offering. FanTV has announced its move to the Sui blockchain via a technical partnership with Mysten Labs,  to fuel the global creator economy and empower creators. FanTV had earlier raised $5.5 mn in their seed round led by Multicoin capital with Krafton, IOSG Ventures, Woodstock Fund.
The global video streaming market size is projected to grow more than four-fold to over USD $1.9 trillion by 2030 with the creator economy leading the charge. FanTV with its unique offering is at the forefront of this revolution with 4 million users and more than 20,000 creators on the platform. FanTV is the leading SocialFi dApp on Polygon with more than 1.5 million  smart wallets, solidifying its contribution to onboarding the masses to Web3. FanTV now plans to onboard creators across the globe and help them build their fan bases and monetize their crafts.
Founded by Prashan Agarwal, ex-CEO of Gaana (one of India’s largest music streaming platforms that raised $115M from Tencent), FanTV is a decentralized video and live streaming platform that empowers creators to create content, monеtizе their creativity, and build money-can’t-buy experiences using exclusive gated communities. On FanTV, creators and users are both rewarded for their contributions to the growth of the platform.
Prashan Agarwal, Founder and CEO, FanTV, expressed excitement about the collaboration, stating, “At FanTV, our vision has always been to empower creators and users. Content creators and users have primarily been the product while the respective platform reaps majority of the benefit. FanTV is hyper-focused on disrupting that status quo. We believe that content creators and consumers are the backbone and should be rewarded proportionately for their contribution. Consumer disruption at scale requires disruptive technology, Sui’s blockchain technology, and commitment to creator empowerment further solidifies this partnership as a win-win. We’re thrilled to embark on this journey of unleashing the full potential of Web3 social together. FanTV’s vision to revolutionize the creator economy is a natural alignment with the values of Sui, the innovative Layer 1 and smart contract platform. This is just the beginning, and our aim is to onboard over 100,000 creators and 10 million users in the next 12-18 months”.

Multiple agencies are closing in on a crypto fraud scam that had a value in the millions of euros.
Eurojust, the EU agency for criminal justice cooperation, collaborated with law enforcement in three member states to stop a cryptocurrency scam reportedly operating out of Austria that saw victims lose millions of euros.
Eurojust characterized the scheme’s active period from December 2017 to February 2018 as an exit scam. During this period, criminals used a fake business website to trick people into purchasing a questionable cryptocurrency that was promoted as a freshly released digital asset.
The con artists from Austria “exited” the scam in February 2018, so they went black by removing all traces of their online presence, including social media profiles and the website for the fake business.
“Investors knew they had been ripped off by this so-called exit scam. About 6 million euros went down the drain. Currently, Eurojust has not been able to identify all victims of the scam.”
The police then began a massive quest for the con artists, which culminated on May 8 with the arrest of six individuals and the taking of two automobiles 750,000 euros in assets and 1.4 million euros in property.
Europol, the Cyprus Police, the National Organised Crime Agency of the Czech Republic, and the Central Public Prosecutor’s Office for Combating Economic Crimes and Corruption of Austria were among the several agencies cited in the announcement as having worked together to carry out the search and seizure.

The former Cred CEO and CFO are required to make a plea on May 8, after their first court hearings on May 2.
Cred, a cryptocurrency lender that went bankrupt in November 2020, saw three executives face charges related to wire fraud and money laundering.
The United States Attorney’s Office for the Northern District of California said on May 3 that “this prosecution underscores our dedication to maintaining our markets free of fraudsters and secure for investors.”
On thirteen counts of wire fraud and money laundering, along with four counts against chief commercial officer James Alexander, former chief executive officer Daniel Schatt and chief finance officer Joseph Podulka face accusations.
“It illustrates a predatory, misleading scheme that bilked prospective victims out of hundreds of millions of dollars’ worth of bitcoin at market value,” said Mark Mosley, the acting special agent in charge of criminal investigations at the American Internal Revenue Service.
Many Cred customers took to social media after the company’s bankruptcy announcement in November 2020 to express their fears and enquire as to whether “their funds are secure.”
According to the prosecution, the three executives lied to Cred’s clients about the company’s lending and investing policies.
Cred supposedly said that it limited itself to “collateralized or guaranteed lending,” that it “hedged” its bitcoin holdings, and that it used an “all-weather strategy” to invest to shield itself from market fluctuations.
Cred allegedly participated in loans that “were neither collateralized nor guaranteed,” according to the prosecution.
The first court appearance for Schatt and Podulka was on May 2, and they are required to return on May 8 to enter a plea. The first court date for Alexander is still pending.
A sentencing hearing for Alex Mashinsky, a former chief executive officer of a cryptocurrency lending business that went bankrupt in July 2022, will take place in September 2024. Mashinsky is facing seven felony counts related to the collapse of the company.
In the meantime, creditors are attempting to reach a settlement with Genesis, another cryptocurrency loan company that declared bankruptcy in January 2023. Genesis made $2.1 billion on April 2 from the sale of about 36 million shares in its Grayscale Bitcoin Trust.

MicroStrategy declares the release of MicroStrategy Orange, a Bitcoin blockchain-based decentralized identity solution.
The biggest Bitcoin (BTC) holding corporation, MicroStrategy, is currently introducing MicroStrategy Orange, a blockchain-based decentralized identification solution. At MicroStrategy World 2024 in Las Vegas, the platform unveiled MicroStrategy Orange as part of the Bitcoin for Corporations section.
Michael Saylor, chairman of MicroStrategy, posed an intriguing idea during the event: “Wouldn’t it be fantastic if there was an orange check that was a worldwide standard instead of a blue check, green check, etc.” He went on to say that MicroStrategy will make this decentralized identification using Bitcoin a reality.
Crypto enthusiast Dylan LeClair discussed MicroStrategy’s Orange protocol on X. In his description of the protocol’s implementation of Bitcoin DID, he said, “The Bitcoin Inscription DID method (did:btc) leverages inscriptions in witness data to store and manage DIDs, using UTXOs for DID management.”
Unspent transaction outputs (UTXOs) are supposedly the key to MicroStrategy Orange’s vision for the safe and effective administration of digital identities. Also, the protocol is working on a way to make blocks smaller and cut down on transaction costs.
Saylor emphasised their goal of implementing a “internet native decentralized digital identity powered by Bitcoin” in a section titled Bitcoin Security. His explanation of why Bitcoin is better than other blockchains was further detailed when he said,
“Well, it [Bitcoin] is fault tolerance, it is censorship resistance, it does employ the most sophisticated encryption, and it’s a lot better than most people’s taskwork managers and this federated system.”
The announcement follows a loss of $53.1 million in MicroStrategy’s fiscal report for the first quarter of 2024. On the other hand, the first quarter gross profit was $85.2 million, or 74.0% of the gross margin, according to the report.

Seized by India’s Directorate of Enforcement (ED), this is a significant crypto money laundering case linked to a gaming app. Coincident with the scandal, the government also confiscated crypto assets frozen at ₹90 crore ($10 million).
The seventy accounts connected to the big cryptocurrency wallets Binance, ZebPay, and WazirX had frozen cryptos, according to the department’s news statement from Tuesday.
Reportedly, the software, “E-Nugget,” attracted players by pretending to be a gaming platform and offering them double returns on investment.
According to ED, users were unable to withdraw payments since E-Nugget suddenly suspended operations.
After the ED found that some of the funds were put in digital assets, the investigation reportedly started in 2022, according to local sources. The enquiry also found that around 2,500 fraudulent bank accounts were examined, leading to the confiscation of ₹19 crore, or $2.27 million.
The enquiry led to the arrest of Amir Khan, the scam’s mastermind, who is now in the custody of the court.
In November 2022, ED requested that Binance seize 150.22 bitcoins associated with E-Nugget, which were worth $2.5 million at the time. As of 2022, the ED said that the case’s confiscated assets were worth a total of $8.4 million.
These latest arrests follow five others made in September in Kolkata in connection to the gambling app, which led to the confiscation. Police said that the kingpin, Khan, was reportedly hiding away outside of India at the moment.
During that period, the police in Kolkata conducted searches and confiscated a number of SIM boxes. A municipal office was the victim of a theft that included over 3,000 ATM and debit cards, computers, and over 2,000 SIM cards. When it comes to retail cryptocurrency adoption, India is right up there with the best of them in recent years.

Saylor is a well-known Bitcoiner who talks about Bitcoin’s advantages over gold, stocks, and traditional currencies.
Michael Saylor, CEO and co-founder of MicroStrategy and a major Bitcoin investor, has been vocal in his support of the first cryptocurrency on x (Twitter). This time around, he compared Bitcoin to other assets and praised its strength as a store of wealth in his tweet.
Saylor wrote on X/Twitter, “Bitcoin is for people who can’t afford to lose their money.” Saylor shown in the accompanying animated graphic that the proportion of original Bitcoin value to Bitcoin has remained constant at 100% after the half that occurred in 2016 (the second halving event in Bitcoin’s existence).
As a result, Michael Saylor said that it has been an ideal store of wealth when contrasted with its competitors, which include gold, the S&P 500, American real estate, the US dollar, and three other fiat currencies (although used in nations with problematic economies): the Argentine peso, the Turkish lira, and the Nigerian naira.
The Bitcoin advocate Michael Saylor is in charge of MicroStrategy, which stated in April that it had acquired 122 more BTC. Buying those Bitcoins for $63,934 cost the business intelligence firm almost $7.8 million.
The present value of the 214,400 bitcoins held by the corporation is an astounding $5.68 billion. The price of the biggest cryptocurrency in the world has fallen dramatically during the last month, falling from $72,450 to its current level of $58,150.
Following news of Binance’s CZ’s four-month jail term and the arrests of “Bitcoin Jesus” Roger Ver for tax evasion in Spain and Hong Kong, Bitcoin’s value dropped by almost 10% in the last day. On the first day of trading, among other crucial considerations, Bitcoin-Ethereum ETFs fell short of traders’ expectations.