The Stellar Development Foundation has partnered with Certora to enhance the security of its smart contracts platform, Soroban. Certora’s formal verification tools will not only check the code but also offer continuous integration, ensuring code alignment with specifications as it evolves. Soroban, powered by WASM (WebAssembly), is the first platform to receive support from Certora […]
Alameda Research, a company affiliated with FTX, is set to receive $175 million from Genesis Global Holdco as part of a settlement agreement approved by the United States Bankruptcy Court for the Southern District of New York. This development comes amidst the ongoing trial of Sam Bankman-Fried, which has shed light on alleged financial misconduct […]
The United States Commodity Futures Trading Commission (CFTC) has taken legal action against Stephen Ehrlich, the former CEO of crypto lending firm Voyager Digital. The CFTC has filed a complaint in the U.S. District Court for the Southern District of New York, accusing Ehrlich and Voyager of fraud and “registration failures” related to the platform […]
Blockchain intelligence company Elliptic has linked the $400 million hack of cryptocurrency exchange FTX to Russian hackers. According to Elliptic’s report, the attacker used an unsophisticated method of laundering the stolen funds by converting them to Bitcoin using a service owned by the bankrupt exchange’s sister company. The attacker then used crypto-mixing services to cover […]
Former Alameda Research CEO Caroline Ellison has accused former FTX CEO Sam Bankman-Fried of instructing her to commit fraud. According to court transcripts from Bankman-Fried’s trial, Ellison claims that Alameda, the trading arm of FTX, used around $14 billion of the exchange’s customers’ funds for investments between 2020 and 2022. Ellison alleges that Bankman-Fried “set […]
Russian President Vladimir Putin’s attempt to use Gazprom as a geopolitical tool against the European Union (EU) has backfired. After threatening to cut off gas supply to Europe, Putin is now scrambling to find new markets for Gazprom, with China being his main focus. However, finding new markets is proving to be a challenge for […]
Real USD (USDR), a stablecoin backed by real estate and cryptocurrency, experienced a significant drop in value, falling to $0.51 from its 1:1 peg to the US dollar. The depegging occurred due to a surge in redemptions that depleted liquid assets, such as Dai, from USDR’s Treasury reserves. This lack of liquidity left the stablecoin […]
Following the recent events in Israel, there have been reports in mainstream media about the alleged connection between Bitcoin and crypto donations to Hamas, a terrorist group. It is claimed that Hamas has raised over $100 million in donations using digital assets. However, there are nuances to this situation that suggest Bitcoin and cryptocurrencies may […]
Cryptocurrency company Genesis has suspended customer withdrawals in its lending unit, adding to the challenges faced by the digital currency industry. This comes after the company filed for bankruptcy earlier this year due to the Gemini exchange’s refusal to facilitate customer withdrawals. The situation has escalated, leading to legal intervention and a settlement between Genesis […]
During a recent crisis involving the real-estate-backed stablecoin Real USD (USDR), a trader suffered a significant loss after swapping 131,350 USDR for 0 USD Coin (USDC). The swap took place on the BNB Chain through decentralized exchange OpenOcean, at a time when USDR had depegged from its par value by nearly 50% due to a […]
