Search
FTX Co-Founder Indicted by Federal Grand Jury in Manhattan, Bahamian Magistrate Denies SBF’s Bail
14.12.2022
On Dec. 13, 2022, the Southern District of New York (SDNY) prosecutor’s office and SDNY attorney Damian Williams revealed that the FTX co-founder Sam Bankman-Fried has been indicted for “fraud, money Laundering, and campaign finance offenses.” SDNY attorney Williams said that the case was...
Lodestar Finance loses $6.9 million to an attacker’s manipulation on GLPOrcale
13.12.2022
Lodestar Finance, one of the best Money Markets in the industry at the moment, has lost nearly $6.9 million funds to an oracle exploit. The hacker has drained all the deposits, forcing the platform to set its interest rate to zero. Negotiations are underway by the platform. Until then, the zero...
Blackrock Warns of Unprecedented Recession for 2023, Bull Markets Not Returning
13.12.2022
Blackrock, one of the largest asset management companies in the world, has warned that 2023 will be a year of recession different from other recessions in the past. As part of its recently issued 2023 Global Outlook report, Blackrock states that a new economic playbook is required in a world...
Decentralized Finance Protocols Flounder as Value Locked in Defi Shed More Than 25% Since FTX Collapsed
12.12.2022
On December 12, 2022, the total value locked (TVL) in decentralized finance (defi) has been range bound after falling 25.5% from $55.94 billion on Nov. 5, to today’s $41.67 billion. Moreover, during the past 12 months, the TVL in defi dropped 82.56% from roughly $239 billion in Dec. 2021,...
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
Hacker Steals $6.9 Million From Arbitrum-Based Defi Protocol Lodestar Finance
11.12.2022
Arbitrum-based lending platform Lodestar Finance was exploited on Dec. 10, 2022, according to a tweet from the project’s Twitter account on Saturday. Community reports detail that Lodestar lost roughly $6.9 million from the vulnerability. Lodestar Finance Loses $6.9 Million in an Exploit,...
Lodestar Finance exploited in flash loan attack
11.12.2022
The main vulnerability behind the attack was within GLP oracle and how it conducts its price
Bank of Russia Backs Crypto Mining Bill But Insists Minted Coins Should Be Exported
10.12.2022
The monetary authority in Moscow has expressed support for the latest legislative attempt to legalize cryptocurrency mining. However, the regulator wants the extracted digital currency to be sold outside the country or only under special legal regimes in Russia, as an exception. Russia’s Central...
Symbiont.io, Which Tried to Bring Blockchain to Traditional Finance, Files for Chapter 11
9.12.2022
US regulator seeks feedback on DeFi’s impact on financial crime: Finance Redefined
9.12.2022
US regulators want to know from the industry on what they think about the financial crimes associated with DeFi
Coinbase Entices Users to Switch From USDT to USDC, Crypto Firm Says Recent Events ‘Put Some Stablecoins to the Test’
9.12.2022
Coinbase, one of the largest cryptocurrency firms in the industry, has published a blog post that tells users to “switch to the trusted and reputable digital dollar,” referring to the stablecoin asset usd coin. The company’s blog post specifically mentions switching...
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
Hong Kong Amends Finance Law to Incorporate Crypto Firms
8.12.2022
Virtual asset service providers will be covered by terror financing and anti-money laundering rules as of June next year
DeFi, such as Oryen Network, Maker, and Convex Finance, allow you to stay in control of your assets
8.12.2022
Decentralization of finance is changing the world order by bringing financial matters into the hands of individuals. As a result, there has been a significant rise in DeFi protocols promoting this major devolution by encouraging the world to decentralize their finance. Centralization in crypto...
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
Binance US eliminates trading fees for Ethereum
7.12.2022
This announcement comes months after the crypto exchange removed all trading fees for Bitcoin transactions
Crypto Audit Platform Sherlock Expects $4M Loss From Troubled Loans on Maple Finance
7.12.2022
Sherlock deposited $5 million USDC of its staking pool into the beleaguered credit pool on Maple, which suffered a $31 million hit from Orthogonal Trading’s loan defaults
Orthogonal Trading fails to repay a loan amount of $10M to Mapple Finance
6.12.2022
With the FTX going into bankruptcy, the overall ripple effect is seemingly carrying on, leaving its ugly mark and negative impact on all who are connected. In the latest case scenario, it happens to be Orthogonal Trading that has come under its adverse influence. For the uninitiated, this entity...
Crypto Markets Today: FTX Fallout Hits Maple Finance; Bitcoin Declines
5.12.2022
The cryptocurrency-focused financial services firm won an auction to buy the company from crypto lender Celsius, which filed for Chapter 11 bankruptcy protection. Crypto Markets Today is CoinDesk’s daily newsletter diving into what happened in today's crypto markets