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SBF risks 115 years in jail, Binance’s FUD, and auditors quit crypto: Hodler’s Digest Dec. 11-17
17.12.2022
Relying on Centralized Databases Makes Dapps Vulnerable to Data Tampering Says Nate Holiday
15.12.2022
Decentralized applications (dapps) are prone to data tampering because they “are largely built on top of centralized databases and services,” the CEO of Space and Time Nate Holiday has said. The CEO also shared a list of data tampering risks which he said are specific to data...
Maple Finance's $54M of Sour Debt Shows Risks of Crypto Lending Without Collateral
12.12.2022
Maple Finance, the largest unsecured crypto lending platform, is grappling with a debt crisis while gearing up for a major system upgrade. The project's MPL token has plunged, and depositors are likely to stomach big losses. Here's how it happened, and what comes next
SEC calls on firms to disclose exposure to crypto bankruptcies and risks
9.12.2022
The Securities and Exchange Commission corporate finance division reminded companies of what they are required to disclose and provided guidance to what else they want to know
BlockFi employees were discouraged from describing risks in internal communications: Report
8.12.2022
According to a former employee, an internal team at BlockFi raised concerns about the borrower pool being too concentrated among crypto whales, such as Three Arrows Capital and Alameda
US regulator to seek feedback on DeFi's impact on financial crime
8.12.2022
A “close look” is being taken at money laundering and terror financing laws by FinCEN as it asked banking sector players for feedback on DeFi’s crime risks
India’s Central Bank Digital Currency Should Be Able to Do Anything Cryptocurrency Can Do With No Risk, Official Claims
6.12.2022
An Indian central bank official claims that if there is anything cryptocurrencies like bitcoin and ether can do, the Reserve Bank of India (RBI) should be able to create a product that will do the same job without the associated risks. “This is essentially what we are doing in the CBDC...
Sanctions Increase Crypto Risks for Russians, Warns Central Bank
2.12.2022
The Russian Central Bank has warned that citizens should stay away from crypto, with “risks” on the rise due to “sanctions from unfriendly countries.” And it has followed up with yet another call for a blanket ban on tokens such as bitcoin (BTC).
TASS, via Finversia, quoted the bank as making...
ApeCoin risks 30% crash after APE staking debut in December
2.12.2022
ApeCoin price has rallied 50% in the last three weeks but a sell-the-news event risks wiping out those gains
Animoca Brands Plans $2 Billion Metaverse Fund to Support Established Projects
2.12.2022
Animoca Brands, the parent company of metaverse projects like The Sandbox, has announced it plans to launch a $2 billion metaverse fund. The new fund, which would be focused on returns for potential investors wanting to get more Web3-related capital exposure, will focus its activities on companies...
Billionaire Bill Ackman Discusses Crypto Regulation — Says Industry Must Self-Police or Risks Being Shut Down
28.11.2022
Billionaire Bill Ackman has warned that the crypto industry needs to self-police or it risks being shut down. He added that regulators need more resources to police the bad actors in the crypto space and will likely take years to catch up. Bill Ackman on Crypto Regulation and the Need for Industry...
International Monetary Fund Calls For Increased Regulation of African Crypto Markets, Says ‘Risks From Crypto Assets are Evident’
25.11.2022
The International Monetary Fund (IMF) has called on African countries to opt for more crypto regulations citing the recent collapse of cryptocurrency exchange FTX.
In a November 22 blog, the financial agency, which works to achieve sustainable growth and prosperity for all of its 190 member...
IMF Blog: Better Regulation of Africa’s Growing Crypto Market Urgently Needed
24.11.2022
A well-regulated African cryptocurrency market is needed in order to protect users as well as help countries stop bad actors from using digital assets to circumvent capital controls, the latest post on the IMF blog has said. The blog post reiterated the IMF’s belief that risks to a country...
Bank of England Warned Consumers About DeFi Risks Following FTX Collapse – Regulation Coming Soon?
22.11.2022
Bank of England (BoE), the UK’s central bank, warned consumers about the risks of using decentralized finance (DeFi) protocols shortly after the crypto exchange FTX collapsed.
The warning from the central bank was given in a speech by Deputy Governor of the Bank of England, Jon Cunliffe, at...
Crypto self-custody a ‘fundamental human right’ but not risk-free: Community
18.11.2022
Ethereum co-founder Vitalik Buterin warned that risks of having bugs in smart contracts are still present when opting for self-custody
Fed paper looks at theoretical role of remuneration, convenience in CBDC design
17.11.2022
The discussion paper reviews the literature on the impact of CBDCs in large, developed economies and draws some conclusions and specific design elements
Citi Analyst Joseph Ayoub Warns of Serious Contagion Risks From FTX Implosion, Here’s What Could Happen
16.11.2022
As collapsed exchange FTX is advancing through its voluntary Chapter 11 bankruptcy proceedings, some market observers are concerned over the risk of a broader contagion spreading across the crypto ecosystem, according to Joseph Ayoub, an analyst at international financial industry player...
Could South Korean Crypto Exchanges Be Safe from Bankruptcy Risk?
15.11.2022
With some of the biggest names in the crypto exchange game apparently teetering on the cusp of bankruptcy, attention in South Korea is turning to domestic trading platforms. And some are suggesting that the nation’s sector may be safe from insolvency – at least for the time being.
Per a report...
Ethereum turns deflationary for the first time since the Merge — ETH price still risks 50% drop
11.11.2022
A bearish technical setup and a declining number of Ethereum whales pose downside risks for ETH price
Bitcoin price risks $17K amid claim Binance may reject FTX takeover
9.11.2022
Further losses come in step with confusion over the future of FTX under Binance, while CPI data looms on the horizon