Decentralized finance (DeFi) protocol Platypus Finance has announced that it has recovered 90% of the assets that were stolen in a recent security breach. The protocol’s net loss was limited to 18,000 Avalanche tokens, equivalent to $167,400. The hacker voluntarily returned the funds, and as a result, Platypus Finance has decided not to pursue legal […]
In the ongoing debate surrounding the issuance of a central bank digital currency (CBDC) in the United States, Federal Reserve Board member, Bowman, has expressed skepticism. While various arguments have been put forth in favor of a CBDC, such as addressing payment system frictions, promoting financial inclusion, and providing access to safe central bank money, […]
Scroll, an Ethereum layer 2 network powered by zero-knowledge proofs, has officially launched its mainnet. The network aims to enhance the speed and reduce fees for developers using Ethereum. Scroll’s mainnet release follows over 15 months of extensive testing and security audits. The platform offers EVM compatibility and the security of the Ethereum blockchain, along […]
Terraform Labs, the company behind the Terra blockchain ecosystem, has filed a lawsuit against Citadel Securities, accusing the market-making giant of manipulating Terra’s UST stablecoin. The lawsuit alleges that Citadel Securities deliberately caused the UST stablecoin to deviate from its $1 peg, resulting in significant losses for Terra. Contrary to popular belief, Terraform Labs argues […]
After conducting thorough investigations, it has been revealed that a significant amount of funds is missing from FTX customer assets. In response to this, FTX Trading Ltd and its associated debtors have proposed a settlement that would result in the majority of lost crypto and financial assets being refunded to customers.The proposed settlement, which is […]
Cryptocurrency custody specialist BitGo has acquired HeightZero, a software platform that helps wealth managers incorporate cryptocurrencies into their clients’ portfolios. The financial details of the acquisition have not been disclosed, but it highlights the growing institutional interest in the crypto market. BitGo’s CEO, Mike Belshe, has urged wealth managers and regulated investment advisors (RIAs) to […]
The IOTA Foundation has been selected to participate in the official startup delegation of the United Arab Emirates (UAE) at the CEATEC conference in Japan. This recognition highlights IOTA’s contribution to advancing Web3 and Web2 technologies. With its groundbreaking Tangle technology, IOTA aims to showcase its potential impact on the Japanese and global markets at […]
Cryptocurrency exchange Binance.US has made changes to its terms of service, indicating that direct withdrawals in USD are no longer supported on the platform. The updated terms state that users can convert their USD funds to stablecoins or other digital assets in order to withdraw USD funds from their accounts. This change has caused concern […]
Scam artists in Ireland are shifting their focus from cryptocurrency scams to targeting traditional banking customers, according to the Irish Independent. With a decline in cryptocurrency scams due to the bear market, fraudsters are now posing as representatives of reputable British banks or trading firms to exploit the trust and vulnerability of unsuspecting banking customers. […]
In the absence of specific policies, the regulation of cryptocurrency in the United States has fallen into the hands of judges in bankruptcy proceedings. This situation has both positive and negative implications for the industry. On the positive side, it allows for flexibility and adaptability in addressing the unique challenges posed by cryptocurrencies in bankruptcy […]
