Fun

News Feed - 2023-11-15 02:11:00

Tom Blackstone7 hours agoOpyn DeFi protocol founders are leaving crypto after CFTC crackdownTwo of the founders of crypto options platform Opyn are stepping down from leadership roles to pursue other aims, but Opyn will continue under new leadership.1092 Total views12 Total sharesListen to article 0:00NewsJoin us on social networksZubin Koticha and Alexis Gauba, two founders of the Opyn decentralized finance (DeFi) protocol, are stepping down from the project and “leaving crypto,” according to a statement from Koticha posted to social media on Nov. 14. The statement comes approximately two months after Opyn settled an enforcement action against it from the United States Commodity and Futures Trading Commission (CFTC).Hey Crypto Twitter,

It"s been a while

This one"s a tough one...

After the regulatory action against Opyn, @alexisgauba and I have made the decision that we are leaving crypto.

This is honestly really emotional for me and Alexis.— zubin koticha (@snarkyzk) November 14, 2023


In his statement, Koticha claimed that the decision was “really emotional” for them. “We thought we were going to be in crypto for the rest of our lives,” Koticha explained. “But unfortunately and unexpectedly, this is the end of the road.” According to him, Opyn will continue under the leadership of its head of research, Andrew Leone, who is being promoted to CEO.


Koticha hinted that the two executives will be working on a new project, stating, “As for me and Alexis - we got something new for y’all very soon.” However, this new project will not be crypto-related, as the two “have made the decision that we are leaving crypto.”


Gauba shared Koticha’s post from her own account, commenting, “Always thought I’d be building in crypto for the rest of my life, so it’s really sad to be leaving.”


Related:Opyn removes liquidity from Uniswap after $370K stolen in DeFi exploit


Opyn is an options trading platform that runs on the Ethereum network. Its development team is headquartered in San Francisco, California. On Sept. 7, the CFTC announced that it was simultaneously issuing and settling an enforcement action against Opyn and two other DeFi teams for allegedly operating an unregistered derivatives exchange. Opyn was ordered to pay a civil monetary penalty of $250,000 and “cease and desist” from violating U.S. commodities trading laws. Attempting to open the Opyn interface from a U.S. IP address now produces a “blocked” error page, and this redirection persists even when using many offshore VPN addresses.Opyn “blocked” page. Source: Opyn.


The CFTC action against Opyn was controversial even within the commission itself, as Commissioner Summer Mersinger wrote a dissenting opinion claiming that the enforcement action should not have been taken.# CFTC# DeFi# RegulationAdd reactionAdd reactionRead moreCan crypto Privacy Pools help balance privacy and regulation?How to manage crypto losses on tax returns in the US, UK and CanadaMultichain inside job? And SOL surges 80% in a month: Finance Redefined

News Feed

PSF Token Invokes the First Coin-Age Staking Protocol on Bitcoin Cash
PSF Token Invokes the First Coin-Age Staking Protocol on Bitcoin CashDuring the last six months, the Simple Ledger Protocol has grown immensely and there’s been 9,604 SLP toke
Turner Wright3 hours agoChangpeng Zhao’s tweet ‘contributed’ to collapse of FTX, claims Caroline EllisonThe former Alameda Research CEO placed part of the blame for FTX’s failure on CZ, while the Binance CEO clai
FTX Co-Founder Indicted by Federal Grand Jury in Manhattan, Bahamian Magistrate Denies SBF’s Bail
FTX Co-Founder Indicted by Federal Grand Jury in Manhattan, Bahamian Magistrate Denies SBF"s Bail On Dec. 13, 2022, the Southern District of New York (SDNY) prosecutor’s offi
Microstrategy Buys 6,455 More Bitcoin — Now Holds 138,955 BTC
Microstrategy Buys 6,455 More Bitcoin — Now Holds 138,955 BTC Microstrategy has purchased 6,455 bitcoins for approximately $150 million at an average price of $23,238 per coin. W
Esports Leader and BSC Utility Token Nobility Announces Rostik Rusev for Advisory Board
Esports Leader and BSC Utility Token Nobility Announces Rostik Rusev for Advisory Board press release PRESS RELEASE. esports company & BSC Utility token Nobility has announced the a
Crypto custody firm Bakkt faces delisting if shares stay under $1
Jesse Coghlan9 hours agoCrypto custody firm Bakkt faces delisting if shares stay under $1Bakkt has posted back-to-back losses and a plummeting share price since listing in October 2021 and the NYSE is threatening to pull
Crypto Lender Nexo Terminates Interest Payments on New Deposits From US Clients
Crypto Lender Nexo Terminates Interest Payments on New Deposits From US Clients Following the U.S. Securities and Exchange Commission (SEC) charging the crypto lending platform Blo
Montenegrin court rejects Do Kwon’s appeal to stop extradition to South Korea
Turner Wright8 hours agoMontenegrin court rejects Do Kwon’s appeal to stop extradition to South KoreaBoth the United States and South Korea have filed competing requests for extraditing the Terraform Labs co-founder si
Defi Token Exposed as Pump and Dump Scam in Leaked Telegram Chat 
Defi Token Exposed as Pump and Dump Scam in Leaked Telegram Chat A leaked Telegram discussion by 50 so-called crypto influencers has exposed the extraordinary steps they take in or
Pantera Capital on Bitcoin: We’re in Next Bull Market Cycle
Pantera Capital on Bitcoin: We"re in Next Bull Market Cycle Crypto-focused investment firm Pantera Capital says bitcoin has seen its lows and “we’re in the next bull
IRS Prioritizes Cryptocurrency, Now First Question on 1040 Tax Form
IRS Prioritizes Cryptocurrency, Now First Question on 1040 Tax FormThe new U.S. tax form is out and the cryptocurrency question is the first one on the main 1040 tax form used by ab
Crypto Payments Firm Bitpay Adds MATIC Support, Panini America to Accept Polygon Payments
Crypto Payments Firm Bitpay Adds MATIC Support, Panini America to Accept Polygon Payments Bitcoin and crypto payment services provider Bitpay has announced that the company now sup