Industry
DEUS Finance Loses $6M After Stablecoin Hack
Decentralized finance (DeFi) protocol Deus Finance has lost more than $6 million due to a security breach in its stablecoin DEI. According to blockchain security firm PeckShield, hackers exploited a vulnerability in the BNB Smart Chain (BSC) on May 5.James DeanBinance listing pushes PEPE memecoin past $1 billion
Three weeks after its launch on April 14, 2023, the frog-themed memecoin Pepe (PEPE) has soared more than 85% in the past 24 hours, taking its market cap above $1 billion. Ironically, PEPE's core value proposition is no.Christopher SmithBlockchain security firm freezes $160K stolen in Merlin DEX 'rug pull'
Smart contract auditor CertiK claims to have blocked $160,000 from Merlin, a zkSync-based decentralized exchange that has been at the center of a rogue insider “rugpull” that cost users $1.8 million last week.Cornell RachelFears of banking crisis hit highest level since 2008
Public opinion of banks appears to be weakening, according to an April survey, as the industry struggles to contain the failure of several high-profile financial institutions in recent months.Martha GrizzardMakerDAO Launches Spark Protocol, a New DeFi Lending Solution for DAI Users
MakerDao, A Decentralized Autonomous Organization that runs on the ethereum blockchain and aboutcoin dai, Announded the launch of the space propoc OL, a lending solution for daiinsWayne IngramPaxful restarts marketplace operations for first time since April
Peer-to-peer cryptocurrency marketplace Paxful has announced it is back online after suspending operations in April.Hallie GillState-funded Chinese AI firm launches bot service to 'surpass' ChatGPT
A state-subsidized Chinese artificial intelligence (AI) company recently announced the launch of "Spark Model," an AI system designed to compete directly with OpenAI's ChatGPT.Jerry McNeillCoinbase exec visits UAE to test potential of 'strategic hub' for international operations
After US-based cryptocurrency exchange Coinbase announced the launch of its global derivatives platform, key executives from the company are meeting with industry leaders and policymakers in the United Arab Emirates.Sherry CantwellRipple Lost $200M Fighting SEC, Says CEO Brad Garlinghouse
Ripple Lost $200M Fighting SEC, Says CEO Brad GarlinghouseBarry StidhamBinance Shuts Down BTC Withdrawals Amid Bitcoin Network Congestion
Crypto exchange Binance shuts down Bitcoin, Withdrawal on May 7 due to alleged transaction overflow on the Bitcoin network.Christopher SmithKazakhstan Introduces $7M Crypto Mining Tax in 2022
The government of Kazakhstan received 3.07 billion tenge (approximately $7 million) in taxes from cryptocurrency mining entities in 2022 after implementing a revised law regulating the financial burden of cryptocurrency mining, according to local media reports.Cornell RachelEligible Celsius Users Can Withdraw All “Distributable Escrow Assets” Subject to Court Approval
Cryptocurrency lending platform Celsius reported that some users will be able to withdraw 100% of their original funds more than 300 days after the platform froze withdrawals.Martha GrizzardBNP Paribas Partners with Bank of China to Promote Use of Digital Yuan
BNP Paribas is teaming up with the Bank of China (BOC) to promote China's digital currency, the digital yuan, to its corporate clients, according to the South China Morning Post.Hallie GillDOJ Investigates Binance Violations of Russia Sanctions
Binance is under investigation by the US Department of Justice (DOJ) national security division for allowing Russians to use the cryptocurrency exchange in violation of US sanctions, according to a Bloomberg report published on May 5.James DeanChina's first arrest of fake news using ChatGPT
A suspect identified only as "Hong" was detained by local authorities and arrested in China's Gansu region after allegedly using ChatGPT to generate fake news reports.Barry StidhamFTX Founder Sam Bankman-Fried Urges Court to Dismiss Charges
FTX founder and former CEO Sam Bankman-Fried (SBF) is seeking to have as many as 10 criminal charges against him dismissed in court, months ahead of a criminal trial scheduled for October.Christopher SmithCryptocurrency wars' - Newly filed letter slams SEC's proposed regulations
A proposal by US securities regulators to tighten custody rules for cryptocurrencies has faced opposition from at least two industry supporters, according to recently filed letters.Cornell RachelEstonia squeezes out 400 crypto firms after new law
Nearly 400 Virtual Asset Service Providers (VASPS) in Estonia have voluntarily shut down or revoked their authorizations after the government's recently strengthened Terrorist Financing Prevention and Anti-Money Laundering Act (AML) came into force in March.Martha GrizzardStripe solves 'cold start problem' with launch of fiat-to-crypto onramp
Internet payments processor Stripe has launched a fiat-to-crypto onramp to address the "cold start problem" Web3 companies face when customers don't have "cryptocurrency in their wallets to transact."Wayne IngramNigeria Goes Blockchain: Policies Could Affect Digital Identity
The Approval of Nigeria's National Blockchain Policy has the country's crypto Community Ecstitute as it Signals More Room for Growth in the Country's Cryp To Industry. A Number of Local Experts Commented on the New Policy and the Implications for the Nigerian Blockchain Ecosystem.Craig Green
