Month: July 2022

Fed demands Voyager remove ‘false’ claims deposits are FDIC insured

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Cypto lender Voyager Digital has been directed to remove “false and misleading” statements that its user’s deposit accounts are FDIC insured. In a joint letter written on July 28 by Seth Rosebrockfrom & Jason Gonzalez, Assistant General Counsel at the Federal Reserve and the Federal Deposit Insurance Corporation (FDIC) to Voyager Digital, the authors said the representations “likely misled and were relied upon” by customers who placed funds with Voyager who now no longer have access to it. “These representations are false and misleading and, based on the information we…

Phishing risks escalate as Celsius confirms client emails leaked

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Celsius depositors should be on the lookout for phishing scams after the company revealed some of its customer data has been leaked in a third-party data breach.  On July 26, Celsius sent an email to its customers informing them that a list of their emails had been leaked by an employee of one of its business data management and messaging vendors. According to Celsius, the breach came from an engineer at the Customer.io messaging platform who leaked the data to a third-party bad actor. “We were recently informed by our…

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Reality Labs Unit Registers $2.8 Billion Losses During Q2 – Metaverse Bitcoin News

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Meta, the social media company, has reported that its metaverse division, the Reality Labs Unit, is shedding lots of money. In its recent earnings call, the company informed that, while the Reality Labs unit managed to pull more than $400 million in sales, its losses reached $2.8 billion, mainly due to research and development costs associated with metaverse and VR products. Meta’s Metaverse Push Is Making It Lose Funds Meta, one of the first companies that announced a pivot from social media to the metaverse, is battling to…

Solana Spaces store to bring 100K people to Solana per month — CEO Vibhu Norby

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Solana Spaces CEO Vibhu Norby said the new physical Solana stores will introduce up to 100,000 people per month to the Solana ecosystem, while also signalling plans to open a virtual storefront in the near future. Utilizing a grant from the Solana Foundation, the first Solana Spaces shop opened in the swanky Hudson Yards New York shopping center on July 28.  Addressing the community in a impromptu Twitter AMA on launch day, Norby explained the store is meant to teach new users about how to use Dapps, and noted that…

Solana-based stablecoin NIRV drops 85% following $3.5M exploit

Solana-based algorithmic stablecoin NIRV has become the latest stablecoin to fail, after dropping 85% from its dollar peg following a hack on adaptive yield protocol Nirvana Finance on Wednesday. The flash loan attack, which also saw Nirvana Finance’s native token ANA drop by 85%, resulted in the loss of $3.49 million worth of Tether (USDT), with the SolanaFM team being the first to confirm that the funds were siphoned via a flash loan attack on July 27: “Utilizing Solend Protocol’s Flash Loans, the hacker borrowed $10M USDC from the Solend…

Bitcoin Price Gains Momentum, Why The Bulls Could Aim $25K

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Bitcoin started a fresh increase above the $23,000 resistance zone against the US Dollar. BTC might continue to rise towards the $25,000 resistance zone. Bitcoin started a fresh increase and climbed above the $23,000 resistance. The price is now trading above the $23,000 level and the 100 hourly simple moving average. There is a short-term contracting triangle forming with resistance near $24,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair must clear the $24,000 resistance to continue higher in the near term. Bitcoin Price…

Monday digest 39: Come ti inculo con la Blockchain

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IMF Warns of Further Crypto Selloffs and More Coins Failing – Markets and Prices Bitcoin News

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A director with the International Monetary Fund (IMF) has warned of further selloffs in both crypto assets and equities. He further warned that more crypto tokens could fail. IMF Foresees More Crypto Selling Pressure Tobias Adrian, director of Monetary and Capital Markets for the International Monetary Fund (IMF), warned about further selling pressure in the crypto market and more crypto token failures in an interview with Yahoo Finance Wednesday. He said: We could see further selloffs, both in crypto assets and in risky asset markets, like equities. “There could be…