Author: Atis. Sh

Prisma Finance, a decentralized finance (DeFi) company, finds itself at the center of a cybersecurity storm. The DeFi firm has reported that approximately $540,000 of its funds are still vulnerable following a substantial $11.6 million exploit last week. The saga took an even more dramatic twist when the hacker, proclaiming to be a “white hat,” issued an ultimatum. The ultimatum? Return of the funds would only occur if Prisma Finance issued a public apology. If that wasn’t enough, he wants the team to unveil their identities. Prisma Finance, known for its decentralized borrowing protocol that facilitates loans via “troves” or…

The Securities and Exchange Commission (SEC) is reportedly considering postponing the approval of the much-awaited Ethereum exchange-traded funds (ETFs). This opinion comes from Matt Hougan, Chief Investment Officer at Bitwise Asset Management, who recently discussed the firm’s ambition to list a spot Ethereum ETF, sparking wide interest and speculation. The background to this development is Bitwise’s successful launch of the Bitwise Bitcoin ETF (BITB) on January 11, which has since seen an astonishing influx of over $2 billion in assets. This rapid growth has placed BITB among the top contenders in the so-called “Cointucky Derby,” highlighting an unprecedented interest in…

In a recent turn of events that has captured the attention of the global crypto community and legal experts alike, Do Kwon, the co-founder of Terraform Labs, has been released from custody in Montenegro. This development comes amidst an ongoing extradition dispute involving South Korea and the United States, both of which have laid claims to prosecute Kwon for allegations of fraud tied to the collapse of the Terra ecosystem in 2022. The saga of Do Kwon, once hailed as a pioneering figure in the cryptocurrency world, took a dramatic turn when his blockchain project, Terra, suffered a catastrophic failure…

Dubai, February 15, 2024 – In the ever-evolving world of decentralized finance, Jalapeño Finance (https://jalapeno.finance) is introducing a fresh approach. The upcoming $JALA token pre-sale, launching February 20th, 2024, paves the way for users to unlock groundbreaking utility for the $JALA token, enabling innovative interaction with market volatility. (Please note: token sale not available to US or Canadian citizens/residents). $JALA Token: Key to Unlocking Potential At the heart of this DeFi innovation lies the $JALA token. This token is your gateway to Jalapeño Finance’s Volatility Vaults. Think of these Vaults as meticulously designed spaces where users can stake their $JALA…

Bitcoin miners have set a new revenue record in November, with earnings soaring to a staggering $1.16 billion. This remarkable feat not only highlights the industry’s robustness but also sets a new benchmark for the highest monthly fees collected in a single year. Remarkably, this surge in revenue is attributed to a combination of increased cryptocurrency prices and a notable rise in transfer fees. During this lucrative period, Bitcoin miners benefited from a perfect storm of favorable conditions. Astonishingly, total revenue for November reached $1.16 billion, with fees contributing a significant $142.19 million. Interestingly, this figure surpasses the previous high…

The Bitcoin ecosystem is witnessing a significant decrease in transaction fees. This trend emerges despite the cryptocurrency’s recent increased network activity. On November 24, the average fee per Bitcoin transaction plummeted to about $5.89, contrasting sharply with the preceding day’s average of $14.06. This reduction in fees, following a period where they soared to over $18 per transaction, signals a noteworthy shift in the blockchain network’s dynamics. The drop in fees coincides with an intense spike in blockchain transactions. Data from Dune Analytics reveals a staggering 475,000 Bitcoin transactions on November 19, maintaining a daily average above 300,000 thereafter. On…

League of Legends has consistently been a frontrunner, captivating millions with its engaging gameplay and vibrant champions. Now, with the integration of advanced AI technology, Riot Games is set to revolutionize this iconic game, offering smarter bots and more innovative champions. Traditionally, League of Legends has featured AI-controlled bots that lacked sophistication, following predictable patterns with limited interaction. Lexi Gao, the champions product lead at Riot Games, highlights the restrictions of the current AI tech. She shares her enthusiasm for expanding the game’s scope with improved AI, hinting at the potential for more intricate and engaging gameplay. Contrary to the…

Changpeng Zhao, the CEO of Binance Holdings Ltd., has resigned from his position. This move is part of a plea agreement with the U.S. Justice Department, marking a significant turn in the ongoing saga of regulatory scrutiny facing the world’s largest cryptocurrency exchange. The Settlement Between CZ Binance and Department of Justice Zhao’s resignation comes as part of a guilty plea to charges related to violating anti-money laundering regulations. This settlement, involving not just the Justice Department but also the Treasury Department and the Commodity Futures Trading Commission, represents a pivotal moment for Binance. According to reports from the Wall…

Twitter, now operating under the moniker ‘X Corp,’ owned by the billionaire Elon Musk, has launched a lawsuit against the liberal advocacy group Media Matters for America. This legal action, set against the backdrop of a controversy involving alleged neo-Nazi and white nationalist content, marks a significant escalation in the ongoing war of narratives between the social media giant and its detractors. At the heart of this lawsuit, filed in a federal court in Fort Worth, Texas, is Twitter’s allegation that Media Matters deliberately engineered a report. This report, Twitter claims, was crafted to falsely depict advertisers’ posts appearing alongside…

The U.S. Securities and Exchange Commission (SEC) has filed a legal challenge against Kraken, a prominent name in the crypto exchange landscape. The SEC’s move marks a significant escalation in its quest to establish regulatory oversight over digital assets, a space that has been notoriously challenging to police. The lawsuit, filed in San Francisco’s federal court, accuses Kraken of operating as a securities exchange without the necessary registration with the SEC. This action is a part of SEC Chair Gary Gensler’s broader strategy to bring the burgeoning field of cryptocurrency within the ambit of federal securities laws. Kraken, however, remains…