Fun

Tornado Cash founder sent to prison, DeFi’s EU struggles: Finance Redefined

News Feed - 2024-05-18 04:05:00

Prashant Jha4 hours agoTornado Cash founder sent to prison, DeFi’s EU struggles: Finance RedefinedThe Tornado Cash developer has been detained in the Netherlands since August 2022 after the United States government blacklisted Tornado Cash.781 Total viewsListen to article 0:00NewsletterOwn this piece of crypto historyCollect this article as NFTJoin 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 past week in DeFi saw the guilty verdict of the Tornado Cash developer for money laundering. Alexey Pertsev was sentenced to over five years in prison.


In other news, Binance found an antidote to the infamous address poisoning scam, Polymarket raised $70 million, attracting investment from Vitalik Buterin and Peter Thiel, and DeFi faces a challenging future in the European Union.Tornado Cash developer guilty of money laundering


Alexey Pertsev, the developer of the cryptocurrency mixing protocol Tornado Cash, has been found guilty of money laundering. This has potentially severe implications for open-source code developers.


On May 14, Dutch judges at the s-Hertogenbosch Court of Appeal found Pertsev guilty of money laundering. The developer was sentenced to five years and four months in prison for allegedly laundering $1.2 billion worth of illicit assets on the platform.


Continue readingDeFi may struggle to stay decentralized after the new EU law


New regulations in the European Union may soon force DeFi protocols to make tough decisions. At the heart of the issue is the tendency of many DeFi protocols to have centralized front-ends and intermediaries.


The EU’s Markets in Crypto-Assets Regulation (MiCA), which will come into full force by the end of 2024, will require DeFi protocols to adhere to the same licensing and Know Your Customer requirements as traditional financial services firms — a burden many DeFi protocols may be unable or unwilling to bear.


Continue readingBinance develops “antidote” to address poisoning scams after $68 million exploit


Binance’s security experts developed an “antidote” against the growing instances of address poisoning scams that trick investors into willingly sending funds to a fraudulent address.


The security team of the world’s largest cryptocurrency exchange developed an algorithm that detected millions of poisoned crypto addresses, according to a report shared with Cointelegraph.


Continue readingPolymarket raises $70 million from Vitalik Buterin, Founders Fund


Peter Thiel’s venture capital firm, Founders Fund, and Ethereum co-founder Vitalik Buterin have spearheaded a $70 million fundraising effort for Polymarket, a platform enabling betting on political events.


According to Bloomberg, Polymarket successfully raised $70 million across two funding rounds as betting on the 2024 United States presidential elections gains momentum. The latest Series B Polymarket funding round was spearheaded by Founders Fund, raising $45 million.


Continue readingDeFi market overview


Data from Cointelegraph Markets Pro and TradingView shows that DeFi’s top 100 tokens by market capitalization had a mixed week, with most trading in the green on the weekly charts. The total value locked in DeFi protocols remained above $90 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.# Blockchain# Vitalik Buterin# Binance# DeFi# Regulation# Tornado CashAdd reaction

News Feed

Progress Toward Bitcoin’s Halving Is 60% Complete, Block Times Suggest Reduction Could Happen Next Year
Progress Toward Bitcoin"s Halving Is 60% Complete, Block Times Suggest Reduction Could Happen Next Year According to countdown statistics based on the average block generation time
Nayib Bukele Attributes Tourism Recovery in El Salvador to Bitcoin, Surf, and Crime Reduction
Nayib Bukele Attributes Tourism Recovery in El Salvador to Bitcoin, Surf, and Crime Reduction Nayib Bukele, the president of El Salvador, declared that the speedy recovery of touri
TikTok could soon be flooded with AI avatars in ads
Jesse Coghlan6 hours agoTikTok could soon be flooded with AI avatars in adsTikTok’s new tools include AI-powered digital avatars that brands can dub over and use to sell their products in multiple languages.2751 Total
Report Claims US President Trump Considering Clemency for Ross Ulbricht
Report Claims US President Trump Considering Clemency for Ross Ulbricht According to two anonymous sources, U.S. President Donald Trump is considering clemency f
Fed Faces Double Inflation as Supply Chain Falters, Economists Question Spending, Biden ‘Not Worried’
Fed Faces Double Inflation as Supply Chain Falters, Economists Question Spending, Biden "Not Worried" Reports show a vast majority of the American populace has b
Singapore High Court Injunction Blocks Sale or Transfer of BAYC #2162 NFT
Singapore High Court Injunction Blocks Sale or Transfer of BAYC #2162 NFT The Singapore High Court has granted a court injunction which stops or blocks the sale of a Bored Ape Yach
Morgan Stanley Massively Increases Bitcoin Exposure Through Microstrategy
Morgan Stanley Massively Increases Bitcoin Exposure Through Microstrategy Global investment bank Morgan Stanley has increased its bitcoin exposure manyfold by in
Hong Kong Presents Digital Currency Prototype, Project Aurum
Hong Kong Presents Digital Currency Prototype, Project Aurum Financial authorities in Hong Kong have unveiled a prototype of the Chinese autonomous territory’s own central bank d
Hong Kong Regulator Reminds Investors of Risks Associated With NFTs
Hong Kong Regulator Reminds Investors of Risks Associated With NFTs Hong Kong’s securities regulator has warned investors to be wary of risks that are associated with non-fu
Rakesh Upadhyay3 hours agoPrice analysis 8/11: BTC, ETH, BNB, XRP, DOGE, ADA, SOL, MATIC, LTC, DOTAfter the Aug. 11 Bitcoin ETF decision delay, BTC’s boring price action looks set to carry on through the weekend.1306 T
Bitcoin’s Bullish Fate Hinges On These 2 Resistance Zones – Details
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Bitcoin dips below short-term holder realized price, sparking $60K fears
Ciaran Lyons8 hours agoBitcoin dips below short-term holder realized price, sparking $60K fearsBitcoin’s price briefly dipped below a critical level for traders sparking fears that a further correction toward $60,000 m