The smart contract set to trigger the first phase of Ethereum 2.0 now has enough funds in it to activate Ethereum’s ambitious upgrade that will shift the cryptocurrency’s economic model, resource usage and governance.

Leading cryptocurrency exchange Binance has given its users in the U.S. 14 days to close their accounts. In an email sent to users, Binance noted it is unable to service users in the country per its terms of use.

The U.S. Department of Justice (DOJ) has reportedly overlooked millions of dollars’ worth of Bitcoin forks after the seizure of over $1 billion associated with the notorious now-defunct darknet market Silk Road.

Sponsored: Since there are tons of DeFi projects in the market, it is easy to get lost looking for the right protocol with potential. DYP.Finance is one of the few that operates based on the right ideals and follows excellent financial protocols to govern its platform.

Top stories in the Crypto Roundup today:

• ETH 2.0 Deposit Contract Reaches Threshold to Launch on Dec. 1
• Binance gives U.S. Users 14 Days to Close Their Accounts
• Billion-Dollar Bitcoin Seizure Left Behind Millions in Forked Coins: Report
• Sponsored: DYP.Finance: A Unique Yield Farming Platform

ETH 2.0 Deposit Contract Reaches Threshold to Launch on Dec. 1

The smart contract set to trigger the first phase of Ethereum 2.0 now has enough funds in it to activate Ethereum’s ambitious upgrade that will shift the cryptocurrency’s economic model, resource usage and governance.

The Ethereum 2.0 deposit contract was released in early November, and now has more than 600,000 ETH worth over $378 million, above the 524,288 ETH threshold necessary to ensure Ethereum 2.0 will launch on December 1. The upgrade plans on solving a number of issues, including scalability.

The launch isn’t of the Ethereum 2.0 network itself just yet, but is for a parallel proof-of-stake blockchain dubbed “the beacon chain.” It will run alongside the existing ETH network and its initial development will not impact Ethereum and its existing applications.

The activation of the beacon chain is the first of four phases on the migration to Ethereum 2.0.

Binance gives U.S. Users 14 Days to Close Their Accounts

Leading cryptocurrency exchange Binance has given its users in the U.S. 14 days to close their accounts. In an email sent to users, Binance noted it is unable to service users in the country per its terms of use.

The email reads:

“Please note that as per our terms of use, we are unable to service US persons. You have 14 days to close all active positions on your account and withdraw all your funds, failing which your account will be locked.”

This is not the first time Binance asked U.S. users to close their accounts, as in July 2019 they were given 90 days to show evidence they had not violated the site’s terms of service.

The recent crackdown comes less than a week after it was revealed the firm sued Forbes and two of its journalists over an article claiming Binance had planned to set up an American subsidiary, Binance.US, to distracted regulators while feigning compliance.

Billion-Dollar Bitcoin Seizure Left Behind Millions in Forked Coins: Report

The U.S. Department of Justice (DOJ) has reportedly overlooked millions of dollars’ worth of Bitcoin forks after the seizure of over $1 billion associated with the notorious now-defunct darknet market Silk Road.

According to blockchain analytics firm Coinfirm, The DOJ did not seize a few cryptoassets that they would have had access to using the same private keys that gave them access to the over $1 billion worth of BTC from the Silk Road.

Authorities would have access to these funds as forks occur when a blockchain splits into two different ones. Both chains, while different from that point on, share the same history. The DOJ was reportedly given access to the funds by a hacker known only as “individual X.”

While the BTC, BCH, BTG, and BSV from the main address, which starts with 1HQ3, were moved, other funds created through hard forks like Bitcoin Diamond, Super Bitcoin, and Bitcoin Private were not moved.

A New Crypto Use Case: Betting on an American Nightmare

On centralized crypto derivatives exchange FTX, users have been betting on the outcome of the U.S. presidential election using tokens like $TRUMPWIN or $TRUMPFB after the results came out. The latter represents the chances of Trump still being in the White House come February 2021.

Betting on FTX is illegal in the U.S., which means that the people placing bets are mostly abroad. Some Americans might be using a different IP address to get in, but it’s safe to say that most come from other countries.

FTX’s betting market for the 2020 U.S. Election actually used ERC-20 tokens, in this case, $TRUMPWIN and $TRUMPLOSE. The fact that the two tokens were transacted on the Ethereum blockchain - which is completely open-sourced - allows us to see how many users bought and sold them and for how much.

On election day, over $9MM worth of $TRUMPWIN were transacted on Ethereum, while the price of the token went down. This is because prediction markets are designed to move faster than news commentators, and the price of assets is set to remain rational.

DYP.Finance: A Unique Yield Farming Platform

Since there are tons of DeFi projects in the market, it is easy to get lost looking for the right protocol with potential. DYP.Finance is one of the few that operates based on the right ideals and follows excellent financial protocols to govern its platform.

DYP Finance offers a utility token that enables users to interact with the features on the DYP smart contract. Ethereum miners can join the DYP mining pool and get rewarded monthly with a 10% bonus from the ETH monthly income earned by the pool. 

Also five million DYP will be distributed to miners as an incentive to join the pool and grow the DYP platform over a period of time. Users can also stake their crypto assets to earn DYP via an automated yield farming contract.

The automated Earn Vault will distribute 75% of profits to liquidity providers while the 25% left will be used to buy back their protocol token to add liquidity and maintain token price stability. DYP was able to sell 570,000 DYP tokens worth 2,821.71 ETH during the Whitelisting & Presale round which shows the interest within the DeFi circle.

DYP’s security is ensured with properly audited code for its smart contracts, built on top of the immutable Ethereum blockchain. The project’s team has worked tirelessly to ensure maximum security for users, an important factor in the DeFi industry.

It's not too late to join DYP finance as the DeFi platform is currently offering a Public Crowdsale offering. You can visit the sales page at https://crowdsale.dyp.finance and make an application to purchase DYP tokens. The minimum amount to participate in DYP is 0.5 ETH and the maximum contribution is 100 ETH.

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