Maker, a prominent DeFi lending protocol on Ethereum, has undergone a significant rebranding to “Sky” alongside essential upgrades to its decentralized stablecoin system. This transformation includes renaming the stablecoin from DAI to USDS and changing the governance token from MKR to SKY. These changes aim to enhance the accessibility and affordability of the protocol for
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In a recent turn of events, the US Securities and Exchange Commission (SEC) has taken action against Abra, a cryptocurrency lending firm, for its failure to register its crypto asset lending product, Abra Earn. This move comes after Abra’s owner, Plutus Lending LLC, was accused of operating as an unregistered investment company. The SEC’s Associate
Sony Blockchain Solutions Labs, in collaboration with Startale labs, has unveiled an ambitious project named Soneium. The primary goal of Soneium is to bridge the gap between Web3 and Web2, making blockchain technology more accessible and user-friendly. The platform aims to address the key issues faced by current blockchain solutions, such as accessibility, scalability, efficiency,
Meta’s recent decision to cancel the development of its next-gen mixed-reality headset has sparked discussion and debate within the tech community. CEO Mark Zuckerberg and other executives made this strategic move after assessing the challenges and limitations faced by the product. The cancellation indicates a shift in focus for Meta, as they navigate the complex
Former FTX executive Ryan Salame’s attempt to void his guilty plea has been met with pushback from the US government. Salame claims that his guilty plea was based on false promises from prosecutors regarding their investigation into his partner, Michelle Bond. However, the US Attorney’s Office has called Salame’s allegations “demonstrably false,” stating that the
In recent years, France has emerged as a favorable destination for prominent cryptocurrency firms such as Binance, Crypto.com, and Circle, which have all established their European headquarters in Paris. The country has garnered attention due to its advantageous tax rates, diverse talent pool, and a culture of innovation in the Web3 sector. Moreover, France has
The recent announcement by Federal Reserve Chairman Jerome Powell regarding potential interest rate cuts has sent shockwaves through the financial markets. With the current benchmark rate for massive overnight money market loans from the central bank hovering between 5.25% and 5.5%, Powell’s endorsement of rate cuts has raised expectations of a new era of lower
In a recent video chart analysis, crypto analyst @XForceGlobal shared insights on Cardano (ADA), a cryptocurrency that many in the market are currently dismissing as a “dinosaur coin.” The analyst compared the current price action of ADA to that of Solana (SOL), pointing out similarities in their Elliott Wave structures. XForceGlobal highlighted that Solana went
In recent trading weeks, Bitcoin ETFs have been thriving, with over $500 million allocated to the largest US-based products. However, the opposite can be said for Ethereum ETFs, which are experiencing minor trading volumes and consistent withdrawals. The rough start of the month for spot Bitcoin ETFs, with losses exceeding $550 million in just three
Cardano’s much-anticipated Chang hardfork has been postponed to September 1, 2024. The delay was confirmed by Cardano founder Charles Hoskinson, who stated that while the upgrade is ready, additional time is needed for platforms such as Binance to prepare for the hardfork. Hoskinson emphasized the importance of deadlines in pushing people to take upgrades seriously