Maker, a prominent DeFi lending protocol on Ethereum, has made waves in the cryptocurrency space by rebranding itself to “Sky.” Along with this rebranding, the decentralized stablecoin formerly known as DAI has been renamed to USDS, and the MKR governance token has been transformed into SKY. This strategic move aims to position Sky as an
Crypto
In the midst of Pavel Durov’s controversial arrest in France over the weekend, a wave of support has emerged from various high-profile celebrities and public figures. Notably, individuals such as Elon Musk, Robert F. Kennedy, Vitalik Buterin, and Tucker Carlson have all voiced their support for Durov during this challenging time. The repercussions of Durov’s
The US Securities and Exchange Commission is pushing back against Hex founder Richard Heart’s efforts to have its $1 billion securities fraud lawsuit dismissed, asserting its jurisdiction over the case. In response to Heart’s motion to dismiss, the SEC argues that his claims fail to address the substantial allegations in the complaint and disregard important
The recent performance of Bitcoin ETFs has been nothing short of impressive, with over $500 million flowing into the largest US-based products. On the contrary, Ethereum ETFs are facing challenges, with minimal trading volumes and consistent withdrawals. Bitcoin ETFs experienced a setback at the beginning of the month, losing more than $550 million in just
The recent statements by Federal Reserve chairman Jerome Powell have caused a stir in the financial markets. The endorsement of rate cuts opens up a new realm of possibilities for the economy. Powell’s assertion that it’s not a matter of if there will be cuts but how deep to make them signals a significant shift
A shocking case of embezzlement has come to light in Kansas where a former bank executive, Shan Hanes, was sentenced to 293 months in federal prison for stealing $47.1 million in a cryptocurrency fraud scheme. Hanes, who was the former CEO of Heartland Tri-State Bank (HTSB), admitted to executing 11 unauthorized wire transfers over a
Shibarium, a layer-2 blockchain solution built on the Ethereum network, has been making significant strides in enhancing the Shiba Inu ecosystem. Since its inception a year ago, the protocol has undergone key upgrades and reached important milestones, positioning itself as a crucial player in the crypto space. One of Shibarium’s main objectives has been to
German authorities recently seized a significant amount of cash and 13 crypto ATMs as part of a crackdown on unlicensed cryptocurrency operations. Led by the Federal Financial Supervisory Authority (BaFin), the operation aimed to strengthen regulatory oversight in the rapidly expanding cryptocurrency sector in Germany. This nationwide sting operation targeted 35 locations where crypto ATMs
The recent report by Coinbase suggests that there is a growing trend among young voters, particularly Gen Z and Millennials, to support candidates who advocate for crypto and financial innovation. These generations now make up 40% of the electorate and are increasingly dissatisfied with the current financial system. According to the report, only 9% of
Bitcoin’s price surged to $65,000 after a period of trading sideways, thanks in part to the actions of the US Federal Reserve. The relationship between Bitcoin and the US central bank’s economic policies has been evident over the past few years. During the COVID-19 crash, the Federal Reserve made significant changes to its approach, causing
