Coinbase CEO Brian Armstrong says the rise of on-chain activities on its new layer-2 network Base has exposed how “broken” the Coinbase app is for user experience, and has pledged to improve it. In an X (Twitter) post on Aug. 13, Armstrong said a number of pain points have surfaced during “Onchain Summer” — a multi-week festival of product launches, brand…
Uniswap dev loses job, was it worth it? A Uniswap developer known as “AzFlin” has been sacked by the founder of Uniswap Labs, Hayden Adams, for allegedly creating a memecoin and rug pulling it a few hours later for 14 wrapped-Ether (wETH), worth $25,800. It is understood that AzFlin developed and deployed FrensTech token (FRENS) on Coinbase’s new layer 2…
Former FTX CEO Sam Bankman-Fried is going into his third night with over 1,500 other inmates in one of New York’s most notorious prisons — a far cry from his parent’s multi-million dollar five-bedroom home in Stanford. The FTX co-founder had his bail revoked by Judge Lewis Kaplan in an Aug. 11 hearing, where he described the Brooklyn Metropolitan Detention…
The Zunami Protocol, a decentralized finance (DeFi) platform, confirmed Sunday that its liquidity pool on Curve Finance was attacked, leading to a loss of over $2.1 million. The hack was reported by blockchain security firms PeckShield and Ironblocks. Zunami Protocol is a yield farming aggregator for stablecoin staking, and maintained its primary “zStables” pool on Curve, which enables the decentralized…
The United States’ securities regulator could completely u-turn its approach to crypto enforcement, depending on a key election in the United States in 2024, according to former SEC official John Reed Stark. In an Aug. 13 tweet, the former SEC Office of Internet Enforcement chief predicted that a Republican President could drastically shift the crypto-regulatory tide, including the potential resignation…
Donald Trump holds up to half a million in cryptocurrency, according to a recently released financial disclosure form submitted to a federal ethics agency. A filing submitted to the Office of Government Ethics included a listing of assets and other sources of income belonging to the former president. In one line on the second to last entry of the 82-page…
Decentralized finance protocol Zunami Protocol has confirmed it has encountered an attack on its “zStables” stablecoin pools. Blockchain security firm PeckShield was one of the first to detect the possible exploit on Curve on August 13 at 10:47 UTC. Zunami then confirmed the attack about 20 minutes later. Zunami said that collateral in the pools remain secure and that the…
But not everyone’s on board with the crypto ETF train. Critics argue that Bitcoin-linked ETFs could be even worse than centralized exchanges for the crypto market. Their main beef? There’s zero possibility of withdrawing the underlying instrument. This means the holders are never able to take advantage of the single most important feature of Bitcoin: the ability to control their…
FTX founder Sam Bankman-Fried was carted off to a detention facility in New York on Friday after his bail was revoked. His accommodations will be a far cry from his parent’s home on the Stanford University campus in Palo Alto, California, where he previously dwelled on house arrest. The disgraced crypto wunderkind was remanded to Metropolitan Detention Center, (MDC) Brooklyn…
The Securities and Exchange Commission (SEC) is unlikely to relent in its opposition to exchange traded funds in Bitcoin spot markets, despite filings from high-profile Wall Street giants, according to former SEC attorney John Reed Stark. “My take is that the current SEC will not approve a bitcoin spot ETF application for a range of compelling reasons,” said Stark, who…
