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
Sony Blockchain Solutions Labs, in collaboration with Startale labs, has unveiled its ambitious project to bridge the gap between Web3 and Web2 through the development of Soneium. The primary goal of this blockchain platform is to make blockchain technology more accessible, scalable, efficient, and capable of solving real-world problems. Soneium functions as a Layer 2
Meta’s recent decision to cancel the development of their next-generation mixed-reality headset has sent shockwaves through the tech community. CEO Mark Zuckerberg and other executives made the call after a product review meeting where it became apparent that the project was no longer sustainable. The high costs associated with advanced OLED display technology played a
The recent filing of settled charges by the US Securities and Exchange Commission (SEC) against crypto lending firm Abra has sent shockwaves through the industry. The SEC alleged that Abra failed to register its crypto asset lending product, Abra Earn, and also charged Abra’s owner, Plutus Lending LLC, for operating as an unregistered investment company.
The US government has recently responded to former FTX executive Ryan Salame’s attempt to void his guilty plea, which he believes was based on false promises made by prosecutors regarding the investigation of his partner, Michelle Bond. The US Attorney’s Office refuted Salame’s allegations, calling them “demonstrably false” and emphasizing that the charges against Bond
In recent years, France has seen a surge in crypto businesses making it their base in Europe. The country offered favorable tax rates, a talented pool of individuals, and a strong sense of innovation in the Web3 space. Additionally, France was quick to adopt clear regulations for the crypto sector, making it an attractive location
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 Cardano (ADA) community is buzzing with excitement as the highly anticipated Chang hard fork is on the verge of launching. Recently, ADA, the native token of the Cardano ecosystem, has seen a remarkable surge of over 52% in key metrics, leaving investors eagerly awaiting the upcoming upgrade. Intersect, a member-based organization dedicated to the
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
The recent data from onchain analytics platform Glassnode indicates that Ethereum (ETH) may have already hit its lowest pricing level, suggesting that the crypto token is on its way to a new all-time high (ATH). The market value to realized value (MVRV) metric for Ethereum is currently at $1,687, signaling that the bottom may be