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The United States Federal Deposit Insurance Corp’s (FDIC) post-mortem assessment of Signature Bank of New York (SBNY) revealed poor management and inadequate risk management practices as the root cause for its collapse.Signature Bank was shut down by federal regulators on March 12 in a bid to protect the U.S. economy
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According to the latest Coingecko crypto industry report, during the first quarter of 2023, bitcoin became the best-performing asset after it saw its U.S. dollar value go up from just under $17,000 observed on Dec. 31, 2022, to just over $28,000 by March 31, 2023. The report attributes the crypto
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The move-to-earn project aims to introduce what it says is a fairer system ahead of a vote to guide the protocol's spending of 100 million SWEAT tokens. Source
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Move-to-earn app creator Sweat Economy is set to let its users decide on how to spend almost $1 million worth of tokens earned as fees and revenue through a governance vote with a twist. According to its announcement, the project will allow users to vote on how much of the tokens
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Arbitrum Foundation, the Ethereum layer 2 network, has introduced two new proposals with significant changes after its initial governance proposal faced backlash from the community. The Foundation plans to keep 700 million ARB tokens, which were left in the administrative budget wallet until the DAO approves an appropriate spending plan. 1/10 With
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The Arbitrum Foundation has released a raft of new improvement proposals following the fracas that ensued after its first failed attempt at governance.On April 5, Ethereum layer-2 solutions provider Arbitrum posted new Arbitrum Improvement Proposals (AIPs) for the governance of the network.The new proposals include AIP-1.1, which covers a smart
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Arbitrum Foundation pledges not to move remaining 700 million ARB tokens without DAO approval of new proposals. Source
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The Virtual Assets Regulatory Authority (VARA), the entity that oversees crypto activities in Dubai, has asked Binance to provide more information about its business requirements in its efforts to tighten regulatory guardrails in the emirate, Bloomberg reported.Citing three anonymous sources, Bloomberg reported on April 5 that the regulator had asked Binance
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Arbitrum’s DAO was pitched as a way to “decentralize” control of the protocol’s development away from Offchain Labs, the company that launched Arbitrum, and bring users and “the community” into the fold. Tokens were airdropped, a reward to early adopters of the system, seemingly with great promise. Unfortunately, the project
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Ethereum layer 2 solutions provider Arbitrum has backtracked on its governance voting system following community backlash from token holders.On April 2, the Arbitrum Foundation tweeted that its first governance proposal, AIP-1, “likely will not pass” and added its “committed to addressing the feedback received from the community.”The move will break
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