In a significant move within the decentralized finance (DeFi) space, Maker, a pioneering DeFi lending protocol on Ethereum, has undergone a major rebranding to “Sky.” Alongside this rebranding, the platform’s decentralized stablecoin DAI has been transformed into USDS, and the governance token MKR has been transitioned to SKY. This rebranding marks a shift in the
Crypto
Recently, a former Kansas bank executive, Shan Hanes, was sentenced to 293 months in federal prison for embezzling $47.1 million in a cryptocurrency fraud scheme. Hanes, the former CEO of Heartland Tri-State Bank (HTSB), pleaded guilty to one count of embezzlement by a bank officer. Shockingly, court documents revealed that Hanes executed 11 unauthorized wire
The past trading week has been nothing short of impressive for Bitcoin ETFs, with over $500 million flowing into the largest US-based products. Despite a rough start at the beginning of the month, where losses of over $550 million were recorded in just three days, both the inflows and the cryptocurrency’s price began to recover
In the wake of Pavel Durov’s controversial arrest in France, a wave of support from celebrities and well-known public figures has emerged. Elon Musk, Robert F. Kennedy, Vitalik Buterin, and Tucker Carlson are among those who have voiced their support for the Telegram CEO. The arrest, reportedly linked to moderation issues with the messaging app
The US Securities and Exchange Commission has pushed back against Hex founder Richard Heart’s attempt to have its $1 billion securities fraud lawsuit dismissed, asserting that it has jurisdiction over the case. In its opposition brief filed in a New York federal court, the SEC argued that Heart’s motion to dismiss failed to address the
The recent shift in Federal Reserve interest rates is causing waves in the cryptocurrency market. As the central bank signals a regime of interest rate cuts, the impact on digital assets with hard supply caps is becoming more apparent. This article will analyze how the changing interest rate landscape could drive up prices for certain
Shibarium, a layer-2 blockchain solution built on the Ethereum network, was created with the intention of fostering the development of the Shiba Inu ecosystem. Its primary goals included reducing transaction costs, improving speed, and increasing scalability. Since its inception a year ago, Shibarium has achieved significant milestones, processing over 418 million transactions and reaching 400
German authorities recently seized nearly 250,000 euros and 13 crypto ATMs in a nationwide crackdown aimed at strengthening regulatory oversight in the country’s rapidly expanding cryptocurrency sector. The Federal Financial Supervisory Authority (BaFin) led the operation, which targeted 35 locations where crypto ATMs were allegedly operated without proper licensing. This operation was conducted in collaboration
Coinbase recently released a report suggesting that young, pro-crypto voters could play a significant role in the outcome of the 2024 US presidential elections. According to the exchange, Gen Z and Millennials, who now make up 40% of the electorate, are increasingly backing candidates who promote crypto and financial innovation. This shift in voter preferences
Bitcoin’s price surged to $65,000 after trading sideways for days, a move that has left many in the crypto community wondering about the reasons behind such a rapid increase. One of the main factors that contributed to this surge is the US Federal Reserve’s economic policies. The relationship between Bitcoin and the Fed has been