A group of disgruntled Azuki NFT holders who banded together to demand a refund of over $38 million from the project’s team for “scamming” holders, found itself even further in the red on Monday when the DAO it was using to coordinate its actions was exploited for tens of thousands of dollars. The group, Azuki DAO, was formed last week…
Artificial intelligence (AI) isn’t just generating lots of content these days, but equally, lots of excitement too. The rise of ChatGPT has led to the rapid adoption of generative AI technology in numerous industries, helping to answer people’s queries, create fresh content, book appointments, draw pictures, assist coders and much more. The excitement around AI can be compared to the…
On June 26, decentralized finance (DeFi) aggregator Chibi Finance was exploited by its own deployer account, and $1 million worth of cryptocurrency was drained from its contracts in an apparent rug pull or exit scam. The protocol’s official user interface disappeared, producing a 404 error, and all social media for the app was taken down. After the funds were drained,…
Singapore’s central bank is introducing new measures to improve investor protection and market integrity in the cryptocurrency industry. On July 3, the Monetary Authority of Singapore (MAS) announced new requirements for crypto service providers to hold customer assets into a statutory trust by year-end. “This will mitigate the risk of loss or misuse of customers’ assets, and facilitate the recovery…
Thailand is the second Southeast Asian country to announce a ban on crypto exchanges offering lending services today, as the country’s regulators put investor protection at the forefront of their crypto strategy. Earlier, news broke that Singapore is banning exchanges from offering lending and staking services to retail customers. Thailand’s similar rules were announced in a release today by the…
Social media networks built on the blockchain are revolutionizing the way we share, interact and communicate with people online. These systems offer improved transparency, data ownership and decentralized incentives by utilizing the power of blockchain technology. This article will discuss five well-known blockchain-based social media sites: Steemit, Verasity, Binded, Audius and Sapien. Steemit Based on the Steem blockchain, Steemit is…
Despite certain limitations and potential risks, the idea of using Ethereum (ETH) as a layer-2 for the Solana (SOL) blockchain is not as farfetched as it may seem, according to Anatoly Yakovenko, the co-founder of Solana Labs. In a series of tweets on Sunday, Yakovenko took a closer look at how such an integration could take shape, suggesting that the…
Singapore is enforcing new crypto consumer protection measures as the city-state continues applying regulation to its burgeoning crypto industry, according to a report by Bloomberg. Chief among the new measures, the Monetary Authority of Singapore (MAS)—the country’s chief financial regulator—will enforce a ban on lending and staking for retail customers (individual traders, as opposed to institutional clients), a measure which…
A robot graced the stage of the National Theatre of Korea to conduct the country’s national symphony orchestra on June 30, marking South Korea’s first robo-conductor public appearance. EveR 6, the android that co-conducted the performance titled ‘Absence,’ is a design produced by the Korea Institute of Industrial Technology (KITECH). The robot is equipped with a humanoid face and has…
Several popular DeFi protocols have enjoyed a steep, overnight rally. The token powering the lending platform Compound has soared more than 4% in the last 24 hours, hitting $63.07, per CoinGecko. Elsewhere, the niche’s decentralized stablecoin minter Maker is also enjoying a bullish rise, with MKR jumping 9% over the same period. Stepping back, and the latest price action comes…
