Even if much of the discourse about Aptos this week has ranged from snide remarks to outright condemnation, the newest cryptocurrency on the market is gaining a lot of attention, generating considerable volume in its first few days of trading. As of Friday afternoon, APT has done at least $1.3 billion in volume since Wednesday, its first full day of…
Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you significant developments over the last week. The last week’s headline was dominated by some of the biggest hacks in DeFi. This week is redemption time for many DeFi protocols that either averted an attempted hack or got a significant chunk…
An amendment to the Financial Services and Markets Bill now before the United Kingdom’s Parliament would extend the law’s powers to regulate financial promotion and other activities to crypto assets. The amendment was written by Member of Parliament and Financial Secretary to the Treasury Andrew Griffith. The 335-page bill was introduced in July and had its second reading in the…
A new research report out today from Mike Novogratz’s Galaxy Digital found that Ethereum NFT creators have been paid a total of $1.8 billion in royalties from secondary sales on marketplaces like OpenSea. In the report, Galaxy Digital researchers Sal Qadir and Gabe Parker also found that NFT creators’ royalty rates on OpenSea—the top overall marketplace by trading volume—have doubled…
Gavin Wood, the co-founder of Polkadot, is stepping down as the CEO of blockchain infrastructure company Parity Technologies. Parity is the development company behind the Polkadot ecosystem. In a statement released on Oct 21, Wood shared that he never desired the CEO role. Although he could act as one for an interim period, it was not a position where he…
In brief Solana NFT standard maker Metaplex plans to launch a new NFT asset class that can enforce on-chain creator royalties. Most of the top Solana NFT marketplaces by market share are now using optional or zero-royalty models. Creator royalties have largely fallen out of favor in the Solana NFT space lately, as top marketplace Magic Eden made paying them…
Bitcoin (BTC) entered an ascending channel in mid-September and has continued to trade sideways activity near $19,500. Due to the bullish nature of the technical formation and a drop in sell pressure from troubled miners, analysts expect a price increase over the next couple of months. Bitcoin/USD price at FTX. Source: TradingView Independent analyst @el_crypto_prof noted that BTC’s price formed…
The Hong Kong Monetary Authority presented its completed Aurum retail central bank digital currency (CBDC) prototype on Oct. 21. The system, developed in conjunction with the Bank for International Settlements (BIS) Innovation Hub, has a unique structure that reflects the intricacies of the existing system for issuing money in Hong Kong. Aurum consists of a wholesale interbank system and retail…
On Friday, October 21, a malicious entity siphoned 30,437 OHM tokens from the Olympus DAO after finding a loophole in the rebase project’s smart contract. Following the exploit, the blockchain security and data analytics company, Peckshield, detailed the hackers stole close to $300K in OHM tokens. Hacker Exploits Smart Contract’s ‘BondFixedExpiryTeller’ Parameter, $292,000 in OHM Tokens Stolen After rising to…
Gavin Wood, co-founder of Parity Technologies, the company behind the Polkadot blockchain, is stepping down as the firm’s CEO, according to a Bloomberg report. Wood, also an early Ethereum contributor and co-founder, will remain Parity’s majority shareholder and chief architect. Parity co-founder Björn Wagner will assume the title of CEO. The move is reportedly of Wood’s own volition, due to…
