iFinex, the company responsible for Bitfinex Derivatives, announced on Tuesday the launch of a new service offering available to users before the highly-anticipated Ethereum Merge. The exchange now offers Ethereum Chain Split Tokens (CSTs). Tokens available to users represent the two systems involved in the Merge: ETHW, which is proof-of-work (PoW) and ETHS, which is proof-of-stake…
To many, Web3 is a concept that is equal parts promising and distant. Naturally, as the conversation continues to grow, many are now confused about where Web3 can be accessed, especially with the sheer number of self-proclaimed “decentralized applications” better thrown as “dApps” that are supposedly running and available. The caveat is that many of…
One user has filed a class-action lawsuit against crypto exchange Coinbase on behalf of account and wallet holders “who have had their accounts breached and incurred losses arising from the unauthorized transfer of assets.” In an Aug. 15 filing in the U.S. district court for the Northern District of Georgia, plaintiff George Kattula requested a…
Cross-chain bridges have increasingly become targeted by malicious entities. However, not all hackers can run away with millions in their exploit attempts. Some end up losing money from their own wallets. In a Twitter thread, Alex Shevchenko, the CEO of Aurora Labs, told the story of a hacker who attempted to exploit the Rainbow Bridge…
Crypto lending platform Celsius Network has filed a lawsuit claiming that custodian Prime Trust failed to turn over roughly $17 million worth of cryptocurrency. In a Tuesday filing with the U.S. Bankruptcy Court in the Southern District of New York, Celsius’ legal team brought a complaint against Prime Trust, alleging the company did not return…
The hype surrounding nonfungible tokens (NFTs) has allowed some of the world’s most iconic brands to rake in hundreds of millions of dollars in additional revenue, underscoring the mass consumer appeal of digital collectibles. Leading brands including Nike, Gucci, Dolce & Gabbana, Adidas and Tiffany have amassed a combined $260 million worth of sales from…
The Securities Commission (SC) of Malaysia issued a statement on Monday regarding Huobi’s operations in the country. According to the statement, the crypto exchange is now on the SC’s Investor Alert List. Malaysian financial regulators say Huobi has been operating a digital asset exchange in the country without official registration with the SC. Huobi Global…
According to multiple sources, on Tuesday, China officially began rolling out the next round of its central bank digital currency (CBDC) pilot test program. In the city of Guanzhou, it is now possible to pay for public bus rides with the digital yuan (e-CNY) CBDC on 10 transit routes, which is a first for the…
Avalanche-based decentralized finance (DeFi) protocol Trader Joe claims it may have found a way to mitigate one of DeFi’s biggest weaknesses — impermanent loss. In a newly released white paper on Tuesday called the JOE v2 Liquidity Book, authored by Quant developers and researchers Adam Sturges, TraderWaWa, Hanzo and software engineer Louis MeMyself, the developers…