The Future of DeFi Decentralized finance is growing, but hac | The Capital City on Binance Square

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The Future of DeFiDecentralized finance is growing, but hacks and exploits remain a challenge. Can DeFi overcome them? #DeFi  #Web3  $WCT 

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🇨🇳🤝 Tech Giants Push for Yuan-Backed Stablecoin in Hong Kong Key Points: JD.com & Ant Group (Alibaba affiliate) reportedly proposed offshore yuan-pegged stablecoins to China's central bank (PBOC) Plan targets Hong Kong, where new crypto regulations take effect August 1 Goal: Reduce reliance on dollar stablecoins (USDT/USDC) in cross-border trade Why It Matters: 🔹 Chinese exporters increasingly use USDT to bypass currency controls 🔹 PBOC advisor Huang Yiping hinted at possible approval for offshore RMB stablecoins 🔹 Governor Pan Gongsheng warned crypto poses regulatory challenges "An offshore RMB stablecoin could promote yuan internationalization" – Industry observers The Big Picture: If approved, this could: ✅ Boost yuan usage in global trade ✅ Challenge USDT's dominance in Asia ✅ Position Hong Kong as a crypto hub Your Take: Smart move for China's financial sovereignty or regulatory tightrope? 💬

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💰 Solo Miner Hits the Jackpot: Wins $350K Bitcoin Block Reward! A solo miner defied the odds and successfully mined a #Bitcoin block, earning nearly $350,000 in rewards! 🔍 Key Details: Hashrate: 2.3 PH/s (~10 modern ASICs like Antminer S21+) Probability: 1 in 2,800 (≈ once every 8 years) Reward: 3.125 BTC ($343K) + 0.048 BTC ($5.2K) in fees Mined via: CKPool (a solo mining pool where miners compete individually) Why This is Rare: Most miners join large pools to split rewards, but solo mining means winner takes all—despite extremely low odds. *"This miner has been consistently running ~2.3 PH/s for a while."* — Con Kolivas, CKPool operator Comparison: July 2024: Another solo miner with 3 TH/s hit a block (odds: 1 in 1.2 million ≈ once every 3,500 years!) Think you could get this lucky? Drop your thoughts below! 👇

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🚀 U.S. Declares "Crypto Week" to Push Major Digital Asset Laws The U.S. House of Representatives has designated next week (July 14 onwards) as "Crypto Week" to advance three key bills that could shape the future of crypto regulation. 🔍 What’s on the Agenda? 1️⃣ GENIUS Act – Regulation for stablecoins 2️⃣ CLARITY Act – Framework for the crypto market 3️⃣ Anti-CBDC Surveillance Act – Limits Fed’s control over a digital dollar Republicans leading the charge claim these laws could position the U.S. as a global crypto leader, balancing innovation, privacy, and free-market competition. "This is a historic opportunity… American innovators are one step closer to the clarity they need." – Tom Emmer, Majority Whip Why It Matters Regulatory clarity could boost U.S. crypto adoption Stablecoin rules may impact USDT, USDC, and others CBDC restrictions could shape future monetary policy What’s your take? Will these bills pass, or is it just political hype? 👇

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