A stablecoin holder on the Polygon network suffered a significant loss of over $100,000 after panic selling their USDR tokens, which depegged from the US dollar on October 11. The holder swapped 131,350 USDR for zero USDC, allowing a MEV bot to profit $107,000. The USDR stablecoin is issued by Tangible protocol, a decentralized finance […]
Former CEO of Miami-based investment firm, Peter Kambolin, has pleaded guilty to a conspiracy to commit commodities fraud involving crypto futures contracts. The United States Department of Justice revealed that Kambolin operated a “cherry picking” scheme, misleading investors by marketing his firm as offering algorithmic trading strategies involving futures contracts, including cryptocurrencies and commodities. However, […]
The US Commodity Futures Trading Commission (CFTC) has filed a complaint against Voyager Digital and its former CEO, Stephen Ehrlich, alleging fraud and registration failures. The CFTC claims that Ehrlich falsely marketed the Voyager platform as a safe haven for high-yield returns, deceiving customers into purchasing and storing digital assets. The lawsuit seeks penalties including […]
Amid the ongoing legal battle between the US Securities and Exchange Commission (SEC) and Binance, a significant development has emerged involving Circle, the issuer of stablecoin USD Coin (USDC). Circle has been granted permission to provide its perspective on the lawsuit as an amicus curiae, or “friend of the court.” District Judge Amy Berman Jackson […]
Caroline Ellison, a former top deputy to FTX founder Sam Bankman-Fried (SBF), concluded her testimony on the seventh day of the SBF trial. Her detailed account shed light on her complex relationship with SBF, both personally and professionally. While her testimony did not bring any significant breakthroughs for SBF’s defense, it provided insights into the […]
The BNB Chain recently experienced a significant flash loan attack, resulting in a massive arbitrage profit of $1.575 million for the attacker. The attack took place on the Pancakeswap DEX network and only cost the perpetrator a fee of $4.16. The MEV Bot responsible for the attack manipulated the price of the BH token, exploiting […]
One of the developers behind BitVM, a Bitcoin-based virtual machine, has clarified that the technology is primarily focused on scaling Bitcoin rather than enabling decentralized finance applications like Ethereum. BitVM aims to increase Bitcoin’s transaction processing capacity and scalability, rather than implementing smart contracts and supporting a multitude of altcoins. The developer, known as Super […]
Headlines proclaiming the death of NFTs have become common in the blockchain industry, but the reality is more nuanced. While it’s true that many NFTs are worthless, this is not surprising given the history of other tokens in the crypto market. Most ICO tokens from the 2017 bull market and DeFi protocol tokens from the […]
A stablecoin called Real USD (USDR), which is built on the Polygon (MATIC) layer-2 scaling solution and backed by real estate assets, has experienced a significant loss in value after detaching from the US dollar. The decentralized autonomous organization (DAO) behind USDR, Tangible, has acknowledged the setback and outlined a plan to assist affected investors. […]
