Decentralized finance (DeFi) is currently not a significant threat to overall financial stability, but it does require monitoring, according to the European Union’s financial markets and securities regulator, the European Securities and Markets Authority (ESMA). In a recent report titled “Decentralized Finance in the EU: Developments and Risks,” the ESMA discussed the benefits and risks […]
U.S. Senators Elizabeth Warren and Angus S. King, Jr. have urged the U.S. Department of the Treasury and the Internal Revenue Service (IRS) to speed up the implementation of new tax reporting rules for cryptocurrency brokers. In a joint letter, the senators expressed concerns about the two-year delay in enforcing the rules, which is expected […]
Crypto exchange WOO Network has reached a settlement to sever ties with bankrupt hedge fund Three Arrows Capital. WOO will repurchase over 20 million WOO tokens and additional shares acquired by the hedge fund during WOO’s series A funding round. The repurchase will be done at an attractive discount, effectively cutting all remaining connections to […]
Web3 social media platform Stars Arena has announced that it has recovered almost all of the cryptocurrency that was stolen in a recent exploit. The platform was able to retrieve around 90% of the 266,000 Avalanche AVAX tokens, which were worth approximately $3 million at the time of the theft. In order to secure the […]
During the trial of Sam Bankman-Fried, the founder of crypto exchange FTX, shocking revelations emerged from the testimony of former Alameda Research CEO Caroline Ellison. While Bankman-Fried was not charged with bribery, evidence was presented to demonstrate trust and motive between him and Ellison. According to Ellison’s testimony, when Bankman-Fried was CEO in 2020, accounts […]
Ethereum staking protocol Lido Finance has experienced 20 slashing events due to infrastructure and signer configuration issues from validators operated by Launchnodes. The incident occurred on October 11, resulting in the offline status of Launchnodes’ validators nodes and the cessation of slashings while the root cause is being investigated. Slashing refers to a validator breaching […]
Former CEO of crypto exchange FTX, Sam Bankman-Fried, was reportedly concerned about various issues leading up to the collapse of the exchange. According to former Alameda Research CEO Caroline Ellison’s personal notes, Bankman-Fried was worried about Alameda’s performance, investing in Snapchat, raising capital from Saudi royalty, and pressuring regulators to crack down on rival exchange […]
The sixth day of the trial of FTX founder Sam Bankman-Fried (SBF) revealed new details about his ambitions and the events leading up to the collapse of FTX. Caroline Ellison, the CEO of Alameda Research, testified and provided insights into the situation. She discussed an $800 million trading loss incurred by FTX in 2021 and […]
Real estate-backed stablecoin USDR has lost its peg to the U.S. dollar due to a surge in redemptions that depleted its liquid assets, including Dai from its treasury. USDR is issued by Tangible protocol, a decentralized finance project that aims to tokenize real-world assets. The coin is primarily traded on the Pearl decentralized exchange, which […]
JPMorgan has achieved a significant milestone by successfully conducting its first live blockchain-based collateral settlement transaction. The transaction involved BlackRock and Barclays and utilized JPMorgan’s Ethereum-based Onyx blockchain and Tokenized Collateral Network (TCN). BlackRock tokenized shares from one of its money market funds, which were then transferred to Barclays as collateral for an over-the-counter derivatives […]
