Cryptocurrency Analysis and News Portal
John J. Ray III, the new CEO of FTX, cited “the secret exemption of Alameda from certain aspects of FTX.com’s auto-liquidation protocol” among a list of poor security and financial controls that have been uncovered since he took control of the company in the early hours of Nov. 11, shortly
Read More
A new layer one blockchain network called Aptos announced the launch of its mainnet on Monday, following a slew of capital injections from a number of venture capital (VC) firms. The blockchain protocol, crafted with a Rust-centric programming language dubbed Move, is backed by VC companies such as Parafi, Andreessen
Read More
Geeq, a Canada-based blockchain company, has been granted a patent in the United States for features of its multi-blockchain, layer-zero protocol’s security
Read More
The risks for both protocols, Compound and Aave, and perhaps other DeFi lenders, are similar: Airdrop speculators could suction up ETH deposits thereby creating liquidity constraints for other users. Indeed, other DeFi protocols are seeing users swap out ETH-derivatives, like Lido’s staked ETH (stETH), which won’t receive airdrops and is
Read More
The Singapore-headquartered Lightnet said it will use the funds to boost Web3 and cross-border payments through the Velo protocol, and expand the protocol's technology. The firm has the option increase the total commitment to up to $100 million over the next three years. Original Source
Read More
“If the Merge fails to successfully be launched, we will have delays on DeFi protocols that will affect stablecoins,” Herrera told CryptoX. “But from the supply dynamics perspective, this can also take a toll on how stablecoins will be used for liquidity pools, in the DeFi space and beyond.” Source
Read More
Crypto exchange Uniswap engaged in talks with multiple nonfungible token (NFT) lending protocols, according to a social media post from Uniswap's head of NFT product Scott Lewis.In the tweet, Lewis highlights the company’s interest in tackling both liquidity issues and “information asymmetry” surrounding NFTs.uniswap is the interface for all nft
Read More
This was possible because of how the Rainbow bridge works. As a wholly decentralized platform, Rainbow relies on several validators, called bridge relayers, who submit block info on Near blocks to Ethereum. Anyone can submit information to Rainbow, and false information could likely result in a loss of all user
Read More
There are mounting concerns that recent United States government sanctions against Tornado Cash will become a “slippery slope” for Web3 privacy that could eventually make the entire space “meaningless.”Speaking to Cryptox, Shumo Chu, co-founder of privacy protocol Manta Network expressed worry that the strict sanctions against Tornado Cash could have
Read More
According to the co-founder of Debridge Finance, Alex Smirnov, the infamous North Korean hacking syndicate Lazarus Group subjected Debridge to an attempted cyberattack. Smirnov has warned Web3 teams that the campaign is likely widespread. Lazarus Group Suspected of Attacking Debridge Finance Team Members With a Malicious Group Email There’s been a great
Read More