Crypto Industry Opposes US SEC’s DeFi Regulation Plan
The US Securities and Exchange Commission (SEC) announced its intention to regulate decentralized finance (DeFi) platforms that trade crypto securities. He said that this would protect investors and enhance cybersecurity. However, Gensler’s plan has met with strong opposition from the crypto industry and some US lawmakers. They argue that Gensler is overstepping his authority and […]
Cathie Woods Claims Bitcoin and Ether are “like Gold”
Cathie Wood believes investors are “flighting to safety” in “risk-off” Bitcoin and Ether during the macroeconomic upheaval. Recent financial instability has demonstrated both Bitcoin BTC($29,966) and ETH ($2,095) withstand unstable economic conditions and outperform other asset classes. Cathie Wood, CEO of ARK Invest, claims that alternative investments may work like gold, sustain an unstable economy, […]
Lazerpay Goes Dark: Nigerian Crypto Startup Fails to Secure Funding
Nigerian crypto and Web3 startup Lazerpay has announced that it will be shutting down its operations after failing to raise funds in a funding round. The startup, which launched in 2021, offered a platform for merchants and users to accept and make payments in cryptocurrencies and other Web3 assets. Lazerpay was one of the first […]
Zambia Leads Africa in Crypto Adoption
Due to its intention to complete testing on cryptocurrency laws by the end of June, Zambia is in the lead of the field. The government seeks to strike a balance between expanding technology and safeguarding its citizens, according to science and technology minister Felix Mutati. The minister added that laws governing the usage of digital […]
Over $5 million exploited in recent DeFi hacks on Aave and Yearn Finance
As DeFi hacks continue to plague the cryptocurrency industry, PeckShield, blockchain security firm reports that Aave and Yearn Finance are the latest protocols to be targeted by exploiters. Aave’s version 1 was impacted, while versions 2 and 3 remained unaffected. The oldest version has been frozen since December 2022, and the team behind the lending […]