Stargate foundation advises DAO against risk of issuing STG tokens
Stargate Foundation has advised its decentralized autonomous organization (DAO) against reissuing Stargate’s native coin (STG). According to the liquidators, taking such action would contravene the automatic stay and might have legal ramifications. The entire STG auction was bought by Alameda Research, a defunct cryptocurrency trading company, for $25 million in March 2022. Yet that same […]
Meta Gives Up On NFTs For Facebook, Instagram
Meta’s Chief of Commerce and Financial Technology, Stephane Kasriel, announced that his organization would be phasing down its NFTs features. Meta will focus on fintech rather than NFTs, in a conversation on Twitter, Kastiel said: “We’re winding down digital collectibles (NFTs) for now to focus on other ways to support creators, people, and businesses.” While […]
DeFi Lender Euler Finance drained of $197M in flash loan exploit
According to auditing platform BlockSec, the decentralized finance platform Euler Finance purportedly experienced a $196.9 million exploit. A flash loan assault targeted Euler Financial, which resulted in the loss of DAI stablecoin, WBTC, stETH, and USDC valued at $197 million. To find the attackers, Euler Labs is collaborating with security professionals and law police. The […]
Blockchain platform Aztec to shut down Aztec Connect
Aztec Connect, the network’s privacy infrastructure that served as Ethereum’s encryption layer, has been shut down. Aztec Network formally announced the impending shutdown of Aztec Connect and plans to stop accepting deposits through the service on March 17 at front-ends including zk.money and zkpay.finance. Users will be able to withdraw money from Aztec Connect without […]
Okcoin Suspends US dollar Deposits
OKcoin is the first crypto exchange to announce a pause in U.S. dollar deposits after Signature’s closure. The U.S. affiliate of cryptocurrency exchange OKX had no exposure to collapsed U.S. tech bank Silicon Valley Bank, according to a March 13 tweet from Okcoin CEO Hong Fang (SVB). Fong said that the regulatory action against Signature […]