Following the hack on July 2, 2022, the team behind the decentralized finance (defi) protocol Crema Finance detailed that after some negotiation, the hacker returned roughly $8 million in crypto assets. According to the team, the hacker agreed to take a white hat bounty worth 45,455 solana. Hacker Returns $8 Million in Crypto to Crema Finance On July 2, 2022,…
Local think tank Infrawatch PH has sent a letter to the Philippines’ Department of Trade and Industry (DTI), urging the government agency to launch an investigation against crypto exchange Binance for promotions without permits. The letter alleged that the crypto exchange has been targeting Filipino consumers with unregistered promotions that are being casually posted on social media platforms. Terry Ridon,…
The Investment Association, a trade body representing British investment managers, is speeding up the local government and financial regulators to approve blockchain-traded funds with digital tokens substituting traditional shares. As the Financial Times reported on Thursday, the trade body is pushing the government to establish a new class of funds employing blockchain technology and create a new task force to…
Community-driven gaming firm, Planetarium Labs, has raised $32 million in Series A funding, backed by Animoca Brands, Samsung Next and WeMade. The funds will be used to build a blockchain-based gaming ecosystem in which players can participate in the game network while also allowing members of the community a seat at the table. According to the announcement on Thursday, the…
Argo Blockchain PLC has become the latest Bitcoin mining company to have sold more Bitcoin than it mined in a month. According to a recent update, Argo sold 637 Bitcoin (BTC) in June at an average price of $24,500, bringing its total revenue from Bitcoin trades last month to $15.6 million. In June, Argo mined 179 BTC, an increase of…
No one hedge fund should have all that leverage. In a recent Twitter thread, Genesis CEO Michael Moro said that the “large counterparty who failed to meet a margin call” mentioned last month by the institutional crypto broker was the troubled Singapore-based fund Three Arrows Capital (3AC). “We previously stated in June that we mitigated our losses with respect to…
The Central Bank of Nigeria (CBN)’s attempt to incentivize the country’s forex market through the so-called “Naira for Dollar” scheme has failed. This is evidenced by the local currency’s plunge of more than 25% since the launch of the incentive scheme in March 2021. Naira Depreciation The CBN’s scheme that encourages recipients of cross-border remittances to cash out via formal…
Digital Currency Group’s market maker and lending firm Genesis Trading has confirmed that it had investment exposure in the now-liquidated Three Arrows Capital (3AC). The insolvency and subsequent liquidation order of the embattled company sent shockwaves through the cryptocurrency space last week amid an ongoing downturn across crypto markets. A major talking point was the stake other prominent companies had…
The lead developer behind Shiba Inu (SHIB) Shytoshi Kusama announced a fresh update for the meme coin community, announcing plans to launch a stablecoin for the SHIB ecosystem, a reward token, and a collectible card game for its metaverse. Admitting an existing “concern after watching other stable tokens collapse and billions in dollars get wiped off the market completely,” Kusama…
The lead developer behind Shiba Inu (SHIB) Shytoshi Kusama announced a fresh update for the meme coin community, announcing plans to launch a stablecoin for the SHIB ecosystem, a reward token, and a collectible card game for its metaverse. Admitting an existing “concern after watching other stable tokens collapse and billions in dollars get wiped off the market completely,” Kusama…
