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Major decentralized lending protocol Aave has “temporarily” suspended lending services in 17 markets, citing excessive volatility that could pave the way for attempts to manipulate the market. Yesterday Duffy Protocol approved the referee’s vote on the matter, with nearly all members voting in favor of the motion. Notably, less than 0.01% of AAVE holders opposed the proposal, while nearly 100% supported it. The protocol stopped lending of 17 cryptocurrencies, including five stablecoins. Banned stablecoins include SSD, USDP, LUSD, GUSD, and RAI. Other affected assets are Yearn Finance (YFI), Decentraland 1 inch (1 inch), Curve Finance (CRV), 0x (ZRX), Basic Attention…
Security News Tender.fi, a whitewashing hacker targeting a decentralized finance (DeFi) protocol, received a $1.6 million error bounty of stolen ETH 62.15 on Tuesday. According to the group’s report, the borrower was able to borrow $1.59 million worth of the property on March 7, 2010, even though the borrower had only deposited 1 GMX. of loans” minus error reward. The Hedera Network core team recently discovered a vulnerability on the network where hackers could steal funds through user accounts on decentralized exchanges (DEXs). “Today, attackers used the Hedera Mainnet’s smart contract service token to transfer Hedera Token Service tokens held…
Ethereum equity provider Lido introduced its native LDO token in an effort to increase the utility and financial sustainability of the token. According to a proposal posted on Lido’s governance forum on May 17, the staking program would allow token holders to take an estimated 20-50% share of Lido’s future earnings to replace the LDO. The proposal was written by a member of the Lido community named Lidomaxi. Source: research.lido.fi Under the proposal, stock awards would be paid out on a weekly basis, but this does not mean that recipients are free to use their awards immediately. Instead, the resulting…
Binance has seen its market share drop by 25% in the past three months as it faces mounting regulatory pressure from US regulators. The world’s largest cryptocurrency exchange accounted for 57.5% of the average monthly volume of all crypto transactions in February, the Financial Times reports, citing research provider CCData, but its market share has now fallen to 43%. Increased regulatory scrutiny in the US and the end of introducing no-fee trading are among the main reasons for the downturn in the Binance stock market. Earlier this year, regulators in New York stopped issuing BUSD, a Binance-branded stablecoin that accounts…
In the ever-expanding arena of cryptocurrency markets, the rules of the game have evolved beyond recognition – and no longer guarantee longevity in market dominance or profit. Today, the winners are those who successfully navigate the wave of a rapidly changing market and ride the latest innovations. At the forefront of this digital revolution is yPredict.ai, an AI-driven cryptocurrency trading platform, following the latest fundraising breakthrough in the industry. With a promise to bring venture capital analytics levels to the retailer, yPredict is not just about breaking records, it’s about creating new records. With their native token, YPRED, they have…
FTX and its affiliates have objected to extending the court-ordered settlement proposals of insolvent crypto lender Genesis. In a recent court filing, FTX said it was not invited to a court-appointed mediation in May between Genesis, its parent company, Digital Currency Group, and its creditor, Gemini Trust Co, a major creditor to Genesis. A bankrupt cryptocurrency exchange filed a massive $3.9 billion claim in Genesis Chapter 11, as it resisted a request from Genesis Global to value FTX creditors’ claims at $0.00. On the other hand, Genesis argued that denying FTX’s claim “is necessary to avoid undue delays in the…
Monday, June 5, 2023 – Wall Street Memes ($WSM) has raised $4 million from investors in 10 days. At the time of writing, $4,057,875 has been raised in the presale. At the current price of $0.0271, the next price level – Level 9 – will start when the total increase reaches $4,168,000, at which time the price will change to $0.0274. There’s no time to lose to buy at the lowest price – there’s only $100,000 left to collect at the current Level 8, which will soon be sold. Strong Million Rock Community Drives Success – Double 1,000 Earnings? Fear…
Binance’s recent regulatory hurdles paved the way for Changpeng “CZ” Zhao, co-founder and current CEO of the platform. An early candidate for the job is Richard Teng, who was recently named president of all regional markets outside the United States, according to people familiar with the matter. Teng’s resume includes senior positions at the Central Bank of Singapore and the Abu Dhabi International Free Trade Zone, making him the ideal candidate to lead Binance through the current regulatory storm. One of Teng’s first assignments at Binance was to help secure a crypto license in Singapore, one of the most coveted…
A two-month delay in cryptocurrency optimism has seen interest in online searches for “cryptocurrency” and other popular cryptocurrency terms stumble by the end of 2020. According to data from Google Trends, the word “crypto” currently has a score of 17, which is far from the reference point of 100 in May 2021. BTC $26,772 and Ethereum followed a similar downward trajectory. However, search demand for these terms has been on a relatively steady decline since May 2022, about a month after most of Terra Luna’s ecosystem collapsed. In early November, a slight increase in interest occurred when the cryptocurrency exchange…
South Koreans are being targeted by non-fungible token (NFT) scammers who pretend to be real project operators to drain cryptocurrency from their victims. Yonhap reports that “phishing emails” that “steal cryptographic assets” from their victims are “distributing widely,” according to a warning from security services firm East Security. The security firm stated that the scammers were disguising their attacks as projects belonging to Starbucks and the e-commerce platform Lotte Home Shopping. The emails contain what appears to be the Starbucks and Lotte logos have been hacked. These emails advertise “free” NFTs and state that tokens can be claimed by clicking…