MultiversX’s $EGLD, Google Cloud, US Treasury Dept, Holesky and Crypto News

MultiversX, a leading blockchain platform for creating and managing decentralized applications, has announced a strategic partnership with Google Cloud, one of the world’s largest cloud computing providers. This partnership will enable MultiversX to leverage Google Cloud’s infrastructure, expertise, and innovation to scale its network and offer its users a faster, more secure, and more reliable experience.

MultiversX is powered by $EGLD, a native token that serves as the fuel for the network and the medium of exchange for its ecosystem. $EGLD is designed to be scalable, interoperable, and adaptable to various use cases, such as gaming, DeFi, NFTs, and more. By partnering with Google Cloud, MultiversX will be able to access Google’s cutting-edge technology and resources, such as artificial intelligence, machine learning, data analytics, and cloud security.

The partnership will also benefit Google Cloud, as it will gain exposure to the rapidly growing blockchain industry and the diverse community of developers and users that MultiversX has built. Google Cloud will be able to offer its services and solutions to MultiversX’s partners and clients, as well as explore new opportunities and innovations in the blockchain space.

The partnership between MultiversX and Google Cloud is a milestone for both companies and the blockchain industry as a whole. It demonstrates the potential of blockchain technology to transform various sectors and domains, as well as the willingness of established players like Google to embrace and support this emerging technology. MultiversX and Google Cloud share a vision of creating a more open, inclusive, and efficient digital world, where anyone can access and benefit from decentralized applications.

The US Treasury Department has issued a statement urging regulators and law enforcement agencies to take action against crypto mixers, which are services that obscure the origin and destination of cryptocurrency transactions. The department claims that these mixers are used by terrorist groups and criminals to launder money and evade sanctions.

Crypto mixers, also known as tumblers or blenders, are platforms that shuffle cryptocurrency funds among multiple addresses, making it difficult to trace the source and destination of the funds. Some mixers also charge fees or commissions for their services, creating an additional layer of anonymity.

The Treasury Department argues that these mixers pose a threat to national security and financial stability, as they enable illicit actors to move funds across borders without detection or oversight. The department also warns that crypto mixers may violate anti-money laundering (AML) and counter-terrorism financing (CTF) regulations and expose users to legal risks and fraud.

The department calls on regulators and law enforcement agencies to enhance their monitoring and enforcement capabilities against crypto mixers, and to coordinate with international partners to combat this global challenge. The department also urges users of crypto mixers to exercise caution and due diligence, and to comply with relevant laws and regulations.

Holesky is a new testnet for Ethereum 2.0 that offers a better testing experience than Goerli, the previous testnet. Holesky has several advantages over Goerli, such as:

Higher stability and scalability: Holesky uses a different consensus mechanism than Goerli, which makes it more resilient to network disruptions and malicious attacks. Holesky can also handle more transactions and validators than Goerli, which reduces the risk of bottlenecks and delays.

More realistic simulation: Holesky mimics the mainnet more closely than Goerli, which means that developers and validators can test their applications and clients under more realistic conditions. Holesky also supports features that Goerli does not, such as sharding and proof-of-stake.

Easier access and participation: Holesky has a user-friendly explorer and faucet that allow users to easily monitor the network, request test ETH, and join the network as validators. The explorer and faucet are available at holesky.

Banana Gun, a decentralized finance (DeFi) project that aims to create a fair and transparent token distribution system, has discovered a critical bug in its smart contract code after launching its native token on the Ethereum network. The bug, which was reported by a security researcher on Twitter, could allow an attacker to mint unlimited tokens and drain the liquidity pool of the project.

The team behind Banana Gun has issued an official statement on their website, explaining the nature and impact of the bug, and apologizing to their community for the inconvenience. According to the statement, the bug was introduced during the final audit of the contract code, when a minor change was made to fix a warning from the compiler. The change inadvertently removed a modifier that checked the balance of the caller before minting new tokens.

The team claims that they were not aware of the bug until after the token launch, and that they acted swiftly to mitigate the damage. They have paused the contract and contacted the major exchanges and liquidity providers to blacklist the token and prevent further exploitation. They have also announced a plan to migrate to a new contract with a fixed code and airdrop new tokens to all the holders of the original token. The team assures that no funds have been lost or stolen as a result of the bug, and that they will compensate any users who suffered losses due to price fluctuations.

Banana Gun is one of the many DeFi projects that have emerged in recent months, offering innovative solutions for token distribution, governance, and yield farming. However, as the sector grows in popularity and complexity, so does the risk of bugs and exploits. Several DeFi projects have suffered from similar incidents in the past, highlighting the need for rigorous testing and auditing of smart contract code before deployment.