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
Crypto
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 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
The US Securities and Exchange Commission (SEC) recently opposed Richard Heart’s motion to dismiss a $1 billion securities fraud lawsuit, underscoring its jurisdiction over the case. The SEC argued in a brief filed in a New York federal court that Heart’s attempt to dismiss the lawsuit failed to address key allegations and disregarded pertinent legal
The recent arrest of Pavel Durov, the CEO of the popular messaging app Telegram, has sparked a wave of support from various celebrities and public figures. Notable names such as Elon Musk, Robert F. Kennedy, Vitalik Buterin, and Tucker Carlson have spoken out in defense of Durov following his controversial arrest in France. The outpouring
Shan Hanes, the former CEO of Heartland Tri-State Bank (HTSB), was sentenced to 293 months in federal prison for orchestrating a $47.1 million embezzlement scheme involving cryptocurrency fraud. Hanes executed 11 unauthorized wire transfers, diverting millions of dollars from the bank’s funds to a cryptocurrency wallet in a fraudulent investment scheme known as “pig butchering.”
Shibarium, a layer-2 blockchain solution built on the Ethereum network, has been making significant strides in the development of the Shiba Inu ecosystem. Its primary objectives include reducing transaction costs, improving speed, and enhancing scalability. Since its inception a year ago, the platform has achieved various milestones, with over 418 million transactions processed to date.
German authorities recently made headlines by seizing nearly 250,000 euros and 13 crypto ATMs during a nationwide crackdown. The Federal Financial Supervisory Authority (BaFin) spearheaded this operation as part of a larger effort to strengthen regulatory oversight within the rapidly expanding cryptocurrency sector. The sting operation on August 20 targeted 35 locations where crypto ATMs
The landscape of American politics is undergoing a significant shift, with young, pro-crypto voters emerging as a potential decisive factor in the upcoming 2024 US presidential elections. According to a report by Coinbase, Gen Z and Millennials, who now make up 40% of the electorate, are increasingly supporting candidates who promote crypto and financial innovation.
In the recent days, Bitcoin has experienced a significant increase in its price, reaching $65,000 for the first time since early August. This sudden surge of $5,000 has left many investors and analysts wondering about the reasons behind such a drastic movement in the market. One of the primary factors that seem to have influenced