Decentralized exchange (DEX) dYdX was forced to use its insurance fund to cover $9 million in user liquidations on Nov. 17. According to dYdX founder Antonio Juliano, the losses resulted from a “targeted attack” against the exchange. Based on reports from the dYdX team on X (formerly Twitter), the v3 insurance fund was used “to fill gaps on liquidations processes…
Yearn.Finance’s YFI token crashed over 43% in just five hours, after rallying almost 170% in November. Source: https://cointelegraph.com/app/public/index.php/news/yearnfinance-token-tumbles-43-community-speculates-on-exit-scam
This week on 5 Questions With SCENE, we’re joined by Jeff Davis, a generative artist who currently serves as strategic advisor to Art Blocks. Davis is an integral component of the Art Blocks team, and joined the platform just months after its founding as Chief Creative Officer. In addition to helping guide Art Blocks from an emergent showcase for on-chain,…
Illustration by Mitchell Preffer for Decrypt. Major coins and tokens took an early swing upwards this week before a couple of days in the red emerged. Right now, Bitcoin (BTC) is trading for $36,735 a 24-hour jump of 2%. Over seven days, it has essentially been flat. It started the week strong, regularly flirting with the 18-month high of $37,000…
Yearn.Finance’s governance token (YFI) plummeted over 43% in just five hours on Nov. 18 after rallying almost 170% early in the month, stirring fears about a possible exit scam. During the dramatic drop in value, over $300 million was wiped out in market capitalization from November’s gains, according to data from CoinMarketCap. At the time of writing, the YFI token…
Nym CEO Harry Halpin on Privacy, Decentralized VPNs and Tornado Cash The founder of privacy-preserving mixnet Nym sat down with Decrypt at Web Summit to talk about its new decentralized VPN, the Web3 privacy landscape and why “devs should be defended” in the wake of the Tornado Cash crackdown. Source: https://decrypt.co/videos/interviews/aLTtY2aq/nym-ceo-harry-halpin-on-privacy-decentralized-vpns-and-tornado-cash
Solana’s token price has spiked in the past month—but do you know about the Solana blockchain-enabled games listed on the Epic Games Store? This year, the number of Web3 games on the Epic Games Store has grown from just 10 in January to 69 in October, according to Game7’s 2023 State of Web3 Gaming Report (Decrypt counted at least 78…
Lee Jeong-hoon, the former chairman of Bithumb, one of South Korea’s major cryptocurrency exchanges, is at the center of a legal battle and might be facing an eight-year prison sentence in the appeal whose verdict is scheduled for Jan. 18. According to Korean local media reports, prosecutors contend that Lee intended to revamp Bithumb’s governance to gain from exchange coins,…
Cryptocurrencies are digital-only assets that investors can delegate custody to a third party, such as an exchange, store in hot wallets, or rely on their own hardware wallets. Security concerns with online solutions and third-party risks (not your keys, not your coins) have increased the need for crypto investors to find offline, easy-to-use solutions to securely manage their crypto assets.…
The internal discord at OpenAI appears to be escalating rapidly, with the removal of Sam Altman announced by the company, citing a confidence deficit. Shortly thereafter, Greg Brockman, co-founder, and president of OpenAI, revealed his exit from the organization. Greg Brockman, expressing pride in the collective achievements since the company’s inception, announced his resignation, citing the recent developments as the…
