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A high-profile cryptocurrency trader that uses film star Matt Damon in its advertising mistakenly transferred almost $10.5million to aMelbournewoman. Crypto.com launched legal action against Thevamanogari Manivel and her sister Thilagavathy Gangadory after taking seven months to realise its mistake. The error happened when the company attempted to give Ms Manivel a $100 refund in May 2021, but entered an account...
"The rising ratio indicates open interest is outpacing market size and increases the risk of volatility," one researcher said. Perpetual futures open interest leverage ratios for ether and bitcoin (Decontrol Park Capital, Glassnode) Traders love volatility, and Ethereum's ether (ETH) and bitcoin (BTC) could soon offer plenty of it. That's the message from observers tracking the so-called open interest leverage...
A new Forbes analysis of 157 crypto exchanges finds that 51% of the daily bitcoin trading volume being reported is likely bogus. Within the emerging and turbulent market for cryptocurrencies, where there are no fewer than 10,000 tokens, bitcoin, is the great granddaddy, the blue-chip, representing 40% of the $1 trillion in crypto assets outstanding. Bitcoin is crypto’s gateway drug....
ZEC, ZEN and XLM “may currently be a security, based on the facts as they exist today,” Grayscale said in recent, little-noticed filings. Grayscale CEO Michael Sonnenshein (CoinDesk archive) Grayscale Investments LLC has been fielding questions from the U.S. Securities and Exchange Commission (SEC) over the firm’s “securities law analysis” of tokens in some of its less-popular crypto trusts. The...
The stablecoin is currently trading at $0.91 as speculation mounts over its sustainability. Algorithmic stablecoin USDN, which is designed to mimic the value of the U.S. Dollar, has fallen of its peg to $0.91. USDN is backed by the Waves token (WAVES) and leverages the staking model of the Waves protocol’s underlying consensus algorithm. Waves' token is trading 3.86% lower...
“There's no organization within the Uniswap ecosystem focused on reducing the friction in governance, and that is one area that the foundation will be focused on,” said Devin Walsh, the community member who authored the initial proposal. Community members of decentralized exchange Uniswaphave votedto create the Uniswap Foundation, an organization aiming to support open-source development and community governance within the...
After the detention of Alexey Pertsev, campaigners worry holding developers accountable for malicious use of their code could have a dangerous, chilling effect. More than 50 people gathered in Amsterdam's Dam Square on Saturday to protest the arrest of blockchain developer Alexey Pertsev, who was was arrested Aug. 10 on suspicion of involvement in the Tornado Cash protocol that wassanctioned...
Some of the highest profile and controversial bankruptcies in history, including Enron and Lehman Brothers, have included the appointment of an independent examiner. Celsius founder and CEO Alex Mashinsky at Consensus 2019 (CoinDesk archives) U.S. government officials asked that an independent examiner be appointed to look into crypto lender Celsius Network's collapse into bankruptcy, seeking the sort of investigation previously...
A proposed bill could give U.K. regulators new powers over payments-focused crypto assets like stablecoins, but details on how the rules might be interpreted by financial watchdogs are pending. Crypto advocates in the U.K. have largely welcomed a new bill that could bring digital assets like stablecoins into the scope of local payments regulation. But there’s uncertainty about how the...
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...
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