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In a surprising turn of events, Uniswap’s founder, Hayden Adams, executed a dramatic move on October 20 by incinerating a staggering 99% of the HayCoin (HAY) supply. This unprecedented action was spurred by his deep concerns regarding the rampant price speculation that had engulfed the token. Before we delve into the details, it’s worth noting that Hayden Adams initially introduced the HAY token for testing purposes approximately five years ago. This was a precursor to the launch of the decentralized Uniswap protocol. At that time, he established a modest test liquidity pool, utilizing only a minuscule fraction of the overall token supply. Astonishingly, he retained over 99.9% of HAY tokens in his own wallet, a fact that would soon garner substantial attention. Fast forward to just a few weeks ago, and the token was experiencing a meteoric rise in popularity, echoing the trend of meme coins. Hayden Adams himself reflected on this unexpected phenomenon, saying, “Over ...

Despite rumors , CommEX, the company that acquired Binance’s Russian business, has denied any connection with Binance.  In a statement, CommEX acknowledges that they have former Binance employees on their team but emphasizes that Binance does not own their company.  CommEX did not disclose the identities of their leaders as they prefer to remain private. You might also like: Binance considers exit from Russia following sanction violations The company also revealed that it took six months to develop the platform, with former Binance employees contributing their experience in product creation and internal processes. The similarity of cultures and values between the two companies played a crucial role in winning Binance’s trust. “Based on the trust in former Binance employees and given our proven technological capabilities, choosing us was not a risk, but the best decision.” CommEX team On Sep. 27, 2023, Binance agreed to sell its Rus...