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Weekly Update 26-06
  • What about us at FNDZ?

There's hopium in the air!

BTC had a better week, rising above $21,000, ETH rose above $1200, and total crypto market capitalization grew slightly to $965 million, an increase of $50 million from the previous week.

But due to the general market downturn, many platforms are looking to cut their staff. Bitpanda is the latest company to announce job cuts. This follows other companies that have announced cuts, including Crypto.com, BlockFi and Coinbase.

A hacker successfully stole $100 million from Harmony's Horizon Bridge this week. This is another blow to the DeFi sector, which is still suffering from the UST collapse and liquidity issues caused on other platforms such as Celsius (CEL) and Voyager, a crypto brokerage firm. A bridge allows users to move assets, including tokens, stablecoins, and NFTs, between different blockchains. This is not the first time a bridge has been exploited.

If you think you had it bad in this crash, Michael Saylor has lost $3.5 billion in the recent downtrend…but he is still buying! MicroStratergy now holds about 13,000 BTC with an average price of $26,080 per Bitcoin.

Good news for our EU community: USDC issuer Circle has announced a Euro Coin (EUROC) to be launched as an ERC-20 token on the Ethereum blockchain on June 30. Several exchanges, including Binance.US, Bitstamp, Huobi Global and FTX, will support the stablecoin at launch.

What about us at FNDZ?

Well, this week we deployed our audited code to the platform!

  • So far, everything has gone according to plan, and the updated code is working well.
  • We will be setting up test index vaults in the coming week to make sure they perform as expected.
  • We have removed the $10 deposit limit.
  • We have also fully integrated KYC into the platform; this is only required for transactions over $1,000.
  • We will open the platform on July 5. We don't have a set launch time, but will inform the community as soon as the platform is open.
  • This week we also reported on the BNB index vaults that we are adding! The index trades for you, and you can choose from three different index vaults and select a risk setting that suits your preferences.
  • We also gave you a sneak peek at another feature of the platform, the ability to seamlessly exchange one BEP-20 token for another on the FNDZ platform itself.

https://www.youtube.com/embed/jUfp6AtsLdk

Keep an eye out for more platform teasers and videos this week!

As always, thank you for your support and stay positive!

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