Bitcoin (BTC) briefly broke above $32,000 on May 31, but the excitement lasted less than four hours after the resistance level proved to be tougher than expected. The $32,300 level represented a 20% increase from the May 12 swing low at $27,000 and it provided the necessary hope for bulls to buy some $34,000 and […]
A Brooklyn community is looking to empower its residents through Bitcoin education. Shutterstock cover by Vit-Mar, cover images by Jason Merritt / Getty Images and Anushree Fadnavis / Reuters (edited by Mariia Kozyr) Key Takeaways Jack Dorsey and Jay Z are funding a Bitcoin program available to residents of Marcy Houses in Brooklyn. The free […]
The SEC is investigating whether Terraform Labs and its CEO Do Kwon violated federal securities laws through their involvement with Mirror Protocol. Key Takeaways The U.S. Court of Appeals has ordered Terraform Labs and its CEO Do Kwon to comply with SEC’s investigative subpoenas. Kwon and his company challenged a district court’s decision affirming the […]
Despite the efforts of a few large token holders, over 53% of the ApeCoin DAO has voted to keep the project within the Ethereum ecosystem. More than 7.1 million APE tokens held by over 800 DAO members voted on AIP-41. ApeCoin Community Chooses Ethereum ApeCoin will stay on Ethereum—for the time being. The AIP-41 snapshot […]
Key Takeaways The Optimism Foundation has revealed that it lost 20 million OP tokens in an incident involving the market-making firm Wintermute. Wintermute had mistakenly provided Optimism with a multi-signature Ethereum address that it had not yet deployed on the Layer 2 network. Due to the mistake, a hacker was able to deploy the multi-signature […]
Cardano looks poised for a brief correction that could help it gain the liquidity to advance higher. Key Takeaways Cardano has surged by nearly 25% over the past week. Bullish momentum is building ahead of Cardano’s Vasil hard fork. Still, technical indicators suggest ADA could retrace before printing a new local high. Cardano looks bound […]
The next big crypto crash could be around the corner due to Lido Staked Ether (stETH), a liquid token from the Lido protocol that is supposed to be 100% pegged by Ethereum’s native token, Ether (ETH). Notably, the stETH peg could drop against ETH by 50% in the coming weeks, raising the risk of a […]
Key Takeaways EVODeFi, a bridge in the Oasis Protocol ecosystem, may be $66 million short of funds. EVODeFi responded to the turmoil by pausing the bridge on June 7. The Oasis Foundation has issued a statement attributing those losses to FUD rather than protocol failures. Rumors of insolvency are circulating around EVODeFi, a bridge in the […]
Starting yesterday, users on Twitter suggested that EVODeFi could have a multi-million dollar discrepancy in its protocol. Key Takeaways EVODeFi, a bridge in the Oasis Protocol ecosystem, may be $66 million short of funds. EVODeFi responded to the turmoil by pausing the bridge on June 7. The Oasis Foundation has issued a statement attributing those losses […]
The state regulator has published new compliance requirements for stablecoin issuers. Key Takeaways The New York Department of Financial Services has published guidance for companies in the state that issue stablecoins. The guidelines describe acceptable backing assets, redemption times, reserve audits, and custodial institutions. Stablecoins have fallen under greater regulatory scrutiny following the collapse of […]
