Fun

News Feed - 2023-11-11 04:11:00

Prashant Jha4 hours agoMango Markets’ exploiter to face trial in April, and Coinflux shuts multichain: Finance RedefinedThe Mango Markets exploiter’s trial was first scheduled for December 2023; however, during one of the court hearings, the accused convinced the judge to delay the trials for a few months.2318 Total views14 Total sharesListen to article 0:00NewsletterJoin us on social networksWelcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week.


The exploiter behind the $116-million theft of assets from Mango Markets will face trial in April next year after the accused convinced the judge to postpone the fraud trial to April 8, 2023. The Aave protocol had to pause multiple markets earlier after reports of a feature-related bug.


The Coinflux multichain protocol called ShuttleFlow is all set to wind down its services after two years. Meanwhile, the Proof of Stake Alliance published an updated version of the staking requirements earlier this week.


The top 100 DeFi tokens had an eventful week as the majority of the tokens recorded new multimonth highs, and the total value locked in DeFi protocols touched $56 billion for the first time in several months.Conflux multichain protocol shuts down after two years


ShuttleFlow, the ecosystem multichain protocol operated and maintained by Conflux Foundation — also known as the Shanghai Tree-Graph Blockchain Research Institute — will shut down after two years.


The ShuttleFlow technology stack will be transferred to Web3 studio Zero Gravity, which will continue to develop the protocol under a new brand. “All user funds are secure and will be migrated from ShuttleFlow to Zero Gravity,” the project wrote, adding, “Users who have previously bridged through ShuttleFlow and completed the claim of their bridged assets on the destination chain do not need to undergo any additional operations for the migration.”


Continue readingAave pauses several markets after reports of a feature issue


Decentralized finance (DeFi) protocol Aave paused several markets on Nov. 4 after receiving reports of an issue affecting “a certain feature,” according to a post on X.


The pause affects multiple networks, including Aave v2 Ethereum Market and certain assets on Aave v2 on Avalanche. In addition, certain assets on Polygon, Arbitrum and Optimism have been frozen.


Continue readingFraud trial of Mango Market’s exploiter behind alleged $116M theft pushed to April


Lawyers representing the $116-million Mango Markets exploiter have convinced a judge to postpone the fraud trial until April 8, 2023. Avraham Eisenberg’s fraud trial was set to commence on Dec. 4. Still, several circumstances impacted his trial preparations, according to his lawyers, who filed a successful motion for a continuance with District Court Judge Arun Subramanian on Nov. 2.


“As discussed in today’s conference, the motion for continuance is GRANTED. Trial in this case will begin on April 8, 2024,” Subramanian stated in a Nov. 3 court filing.


Continue readingProof of Stake Alliance updates recommendations for staking providers


The Proof of Stake Alliance (POSA), a nonprofit organization that represents firms in the crypto staking industry, published an updated version of its “staking principles” on Nov. 9


POSA represents 15 different firms in the staking industry — Alluvial, Ava Labs, Blockdaemon, Coinbase, Credibly Neutral, Figment, Infstones, Kiln, Lido Protocol, Luganodes, Methodic, Obol, Polychain, Paradigm and Staking Rewards.


Continue readingDeFi market overview


Data from Cointelegraph Markets Pro and TradingView shows that DeFi’s top 100 tokens by market capitalization had a bullish week, with most tokens trading in green on the weekly charts. The total value locked into DeFi protocols jumped to $56.06 billion.


Thanks for reading our summary of this week’s most impactful DeFi developments. Join us next Friday for more stories, insights and education regarding this dynamically advancing space.# Cryptocurrencies# Hackers# Court# Hacks# DeFi# Aave# RegulationAdd reactionAdd reactionRead moreHow to manage crypto losses on tax returns in the US, UK and Canada3 theses that will drive Ethereum and Bitcoin in the next bull marketPlatypus Finance recovers 90% of assets lost in exploit

News Feed

US Senators Urge Fidelity to Stop Offering Bitcoin in 401(k) Plans Citing FTX Collapse, ‘Serious Problems’ in Crypto Industry
US Senators Urge Fidelity to Stop Offering Bitcoin in 401(k) Plans Citing FTX Collapse, "Serious Problems" in Crypto Industry Several U.S. senators have called on Fidelity Investme
70 to 90% Down — Crypto Economy’s Decline Shakes Out $2 Trillion in 8 Months
70 to 90% Down — Crypto Economy"s Decline Shakes Out $2 Trillion in 8 Months During the past eight months, crypto assets have shed enormous value against fiat currencies like the
Noncustodial Bitcoin Cash Client Zapit Demos In-Wallet SLP Dividends Tool
Noncustodial Bitcoin Cash Client Zapit Demos In-Wallet SLP Dividends ToolDuring the last week, Bitcoin Cash proponents have been discussing Zapit, the noncustodial BCH wallet that a
Turner Wright8 hours ago‘The SEC has violated due process’ — Coinbase CLO on motion to dismiss lawsuitLawyers for Coinbase cited precedent from the SEC v. Ripple case, in which a judge ruled that XRP largely did no
Markets Spike After Fed Chair Says It ‘Makes Sense to Moderate the Pace’ of Rate Hikes, Hints Easing Could Happen in December
Markets Spike After Fed Chair Says It ‘Makes Sense to Moderate the Pace’ of Rate Hikes, Hints Easing Could Happen in December Equities, precious metals, and cryptocurrencies sh
Hester Peirce blasts SEC, Gurbir Grewal rejects SEC criticism: Law Decoded
David Attlee4 hours agoHester Peirce blasts SEC, Gurbir Grewal rejects SEC criticism: Law DecodedGurbir Grewal, the director of the Division of Enforcement at the SEC, has pushed back against criticism that the regulator
9,404 Crypto Mining Devices Seized by Iranian Authorities Since March
9,404 Crypto Mining Devices Seized by Iranian Authorities Since March Iranian authorities have seized nearly 10,000 illegal cryptocurrency mining devices since March. According to
ZachXBT recovers majority of $177K stolen NFT proceeds after 9-month probe
Ciaran Lyons3 hours agoZachXBT recovers majority of $177K stolen NFT proceeds after 9-month probeBlockchain investigator ZachXBT revealed that after a "lengthy process" he has retrieved the majority of the proc
Ether at $3,100 could liquidate $212M worth of leveraged long positions
Zoltan Vardai13 hours agoEther at $3,100 could liquidate $212M worth of leveraged long positionsThe crypto market liquidated over $624 million worth of leveraged positions in the past 24 hours, 83% of which were long pos
Ana Paula Pereira13 hours agoCanada’s court deem emoji valid as a contract agreement: ReportThe case sought to determine whether a Canadian farmer had agreed to sell tons of flax to a grain buyer in 2021 by replying wi
NSA ’just days from taking over the internet’ warns Edward Snowden
Tom Mitchelhill4 hours agoNSA ’just days from taking over the internet’ warns Edward SnowdenThe FISA 702 bill has been described by critics as a “dramatic and terrifying” expansion of the United States government
London’s ‘Joe Rogan’ and crypto advocate Brian Rose makes bid for mayor
Robert D. Knight10 hours agoLondon’s ‘Joe Rogan’ and crypto advocate Brian Rose makes bid for mayorThe former Wall Street and City of London banker is making his second bid to become mayor of London.4369 Total view