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A bug in the protocol’s newly deployed iBTC-aUSD liquidity pool left the door wide open for hackers to exploit. Polkadot-based decentralized finance (DeFi) platform Acala’s native stablecoin, aUSD, depegged on Sunday, plummeting 99% after hackers exploited a bug in a newly deployed liquidity pool to mint 1.28 billion tokens. Acala developers said the bug was caused by a misconfiguration of...
The agency dropped the crypto exchange giant's rating to BB from BB+, citing "weak earnings" and increasing competition. Coinbase CEO Brian Armstrong (CoinDesk archives) In an already difficult week, Coinbase suffered another knock as the credit ratings agency S&P Global said in a note Thursday that the outlook for the crypto exchange giant was "negative." S&P Global ratcheted down Coinbase's...
JPMorgan is less optimistic than Bank of America about the company in the near term, saying the crypto exchange's near-term outlook is “still grim.” Coinbase (COIN) is well positioned to successfully navigate thiscrypto winterand take market share, Bank of America (BAC) said in a research report Tuesday. It maintained its buy recommendation following the exchange’ssecond-quarter results. The results warrant “a...
“It’s a vision that has been, I think, forgotten a little bit and I think one of the reasons why it has been forgotten is basically because it got priced out of the market,” Vitalik Buterin said. “It’s a vision that has been, I think, forgotten a little bit and I think one of the reasons why it has been...
The Macalinao brothers used a web of bogus identities to create the illusion of a dev community, juicing value on the Saber protocol and Solana blockchain. Now they're moving to Aptos. Ian Macalinao is one half of the Saber brothers (Danny Nelson/CoinDesk) Something about Sunny Aggregator felt off-kilter to the cryptocurrency user known as Saint Eclectic. Sunny was the newest...
Over 8,000 internet-connected "hot" wallets have been compromised so far, but the source of the attack remains unknown. The Solana ecosystem appears to be the victim of crypto’s latest exploit, with users reporting that their funds have been drained without their knowledge from major internet-connected “hot” wallets including Phantom, Slope and TrustWallet. The attack is still ongoing, and over 8,000...
The news was hailed as a historic event for South American football, but it could bring unexpected consequences for Argentinian club Banfield, amid local FX restrictions. This piece is part of CoinDesk's Sports Week. Giuliano Galoppo, middle, playing for Banfield. (Rodrigo Valle/Getty Images) This week, São Paulo, one of Brazil's most important soccer teams, announced the acquisition of Giuliano Galoppo,...
The Federal Reserve and Federal Deposit Insurance Corp. issued a cease-and-desist statement to Voyager, saying it made false claims that its customers would have government protections. Crypto lender Voyager Digital has been ordered by U.S. banking regulators to stop making incorrect claims that the company was insured by the government. The Federal Reserve and Federal Deposit Insurance Corporation ordered Voyager...
The NY Times reported that Kraken allegedly allowed Iranian users onto the platform. Kraken CEO Jesse Powell (CoinDesk) Crypto exchange Kraken is reportedly under investigation by the U.S. Treasury Department on suspicion it allowed Iranian users to utilize the site's services in violation of federal sanctions. The New York Timesreported Tuesdaythat the Treasury Department was likely to impose a fine...
Ethereum’s imminent transition to a proof-of-stake consensus mechanism will transform its monetary policy, potentially making ETH more scarce than Bitcoin. Ethereum’s imminent transition to a proof-of-stake consensus mechanism will transform its monetary policy, potentially making ETH more scarce than Bitcoin. Ethereum researcher, Vivek Raman, is convinced that Ethereum’s upcoming transition to a proof-of-stake (PoS) system will enable it to take...
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