CryptoPM
CryptoPM @CryptoPM
1. **Partnership Formation:** Microsoft, Tencent, and 16 other Web2 giants joined Consensys to decentralize the Infura network, a crucial gateway to Ethereum for DeFi.

2. **Objective:** Aim to enhance decentralization in Infura, crucial for preventing outages in Web3 services like MetaMask.

3. **Andrew Breslin's Insight:** Emphasized the significance of big-name firms supporting Infura's decentralization, stressing the importance of decentralizing blockchain infrastructure layers.

4. **Decentralized Infrastructure Network (DIN):** Scheduled for Q4 launch, intends to solve Infura's centralization issue currently controlled by Consensys, creating a single point of failure.

5. **Failover Support:** One of the key features of DIN, offering failover support for Ethereum and Polygon networks, ensuring traffic rerouting during outages for higher uptime rates.

6. **Improved Reliability:** DIN's launch will provide more reliable and censorship-resistant access to Ethereum for DApps, eliminating reliance on a single service provider.

7. **Censorship Resistance:** Decentralizing blockchain data providers on Infura network crucial for long-term censorship resistance, preventing shutdowns via attacks or legal action.

8. **Open Partnership:** Infura open to other reliable internet infrastructure providers joining DIN for its success, aiming for collaboration over time.

9. **Federated Phase:** New companies working with Infura in a temporary centralized trial period, preparing for eventual decentralization.

10. **Future Governance:** Aim to govern DIN as a decentralized autonomous organization (DAO) or similar structure, ensuring democratic decision-making among partners for the network's direction.

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Coingabbar Analysis
Coingabbar Analysis @Coingabbar_Analysis
BITCOIN PRICE ANALYSIS: Bull trap or technical correction?
Bitcoin couldn't sustain its upward momentum beyond $36,000Following the Federal Reserve's interest rate announcement, Bitcoin bulls demonstrated a resurgence of vigor, propelling them past the $36,000 resistance threshold. Regrettably, their success proved short-lived, as the market struggled to maintain a price above the $35,000 support level and subsequently sustained itself above the subsequent support level...
CryptoPM
CryptoPM @CryptoPM
1. The Federal Reserve's Federal Open Market Committee (FOMC) is set to announce its benchmark fed funds rate, expected to remain at 5.25%-5.50% after a two-day policy meeting.

2. Traditional and crypto market participants are closely monitoring the FOMC's decision and Fed Chair Jerome Powell's post-meeting press conference.

3. The central bank has suggested the possibility of one more interest rate increase in recent weeks, concluding a rate hike cycle that began in March 2022 at 0% and now stands at 5.25%-5.50%.

4. Recent financial market fluctuations, economic indicators showing weakness, and geopolitical tensions may prompt the Fed to reconsider further rate hikes.

5. Bitcoin experienced a strong breakout in October from $27,000 but has been trading in a range of $34,000-$35,000 for the past week, possibly awaiting fresh momentum.

6. A dovish signal from the Fed could potentially push Bitcoin out of its current price range, although this outcome is not widely expected.

7. Matthew Ryan, head of market strategy at Ebury, believes that another U.S. rate increase in the current cycle is unlikely.

8. Instead, he suggests that the Fed may emphasize that rate cuts are not on the horizon, with easing potentially beginning no earlier than the second half of 2024.

9. This cautious stance reflects the uncertainty in the economic and financial environment.

10. The FOMC's decision and messaging will have a significant impact on both traditional and crypto markets, making it a closely watched event in the financial world.

#BTC #CryptoNews🔒📰🚫
CryptoPM
CryptoPM @CryptoPM
1. An attacker targeted the wallet of a Fantom Foundation employee.

2. The attacker transferred around 8.3 million DAI from the employee's wallet.

3. Following the theft, the attacker exchanged the stolen DAI for approximately 4,621.8 ETH.

4. The attack involved a significant amount of funds, both in DAI and ETH.

5. Fantom Foundation is a blockchain platform and cryptocurrency project.

6. The attack highlights the security risks associated with cryptocurrency wallets and assets.

7. Stolen DAI was converted into Ethereum (ETH), a widely recognized cryptocurrency.

8. The attack might affect the security measures and protocols employed by Fantom Foundation.

9. Address tracking and analysis are essential tools for monitoring suspicious crypto transactions.

10. Investigations into the incident and tracking the attacker's activities are likely ongoing.

#CryptoNews🔒📰🚫