In the reorganization creditors would own 65% of CoinFLEX. Meanwhile, existing Ordinary Series A shareholders, including the CoinFLEX founders, would lose their equity stakes. Series B investors are to remain shareholders and can be incentivized with future equity over time in the event they bring value to the business. Source
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The new proposed DAO structure will bring in delegated voting, which allows members of the DAO to transfer their voting rights to other members who can then vote on their behalf. Although Aragon Network exists to help others create DAOs, it wasn’t originally set up as one itself, and these votes are part of its years-long shift to a DAO structure. Source
But that sort of trust in the government can’t be taken for granted, a fact that has been documented by the Edelman Trust Barometer, an annual report on a regular survey of societal indicators of trust. According to the most recent edition, 48% of people globally say that government is a dividing force in society, compared to only 36% who say it is a unifying force. Government is also ranked behind business, non-governmental organizations (NGO) and the media in the perceived ability to solve societal problems. And “government leaders,” in…
BingX, the most popular social cryptocurrency exchange, has set a record by becoming the first cryptocurrency exchange to integrate copy trade subsidy vouchers. These are intended to reimburse consumers for any losses they may sustain. Less competent traders can use copy trading to automatically replicate positions created and maintained by more active investors. According to their report, BingX will cover any losses in the copy transaction as long as the user enables the copy trading subsidy vouchers (within the denomination of the card and coupon). This voucher acts as a…
According to DeFi Llama, UwU Lend, a decentralized finance, or DeFi, protocol that acts as a money market on the Ethereum blockchain, has surpassed $50 million in total value locked (TVL). The non-custodial protocol was created by Michael Patryn, known by the pseudonym “Sifu,” who was the co-founder of defunct cryptocurrency exchange QuadrigaCX. UwU Lend allows users to earn interest on deposits and pay interest to borrow funds on its platform. Outstanding loans on UwU lend are overcollateralized, with more collateral backing them than debt. A small amount of fees…
The SEC’s order, issued last Friday, details sloppy accounting practices that were common at Friedman LLP from 2015 to 2020, including its failure to “respond to fraud risks” and “exercise due professional care and professional skepticism,” among other things, the order said. Original Source AccountingAuditorfinedSECSloppyTethers CryptoX Portal
Since the completion of the Ethereum Merge, sentiment among the community has remained positive. There had been no withdrawal mechanisms coded into the hard fork, which meant that the feared dump of millions of ETH into the market did not happen. What had happened is that the amount of ETH that was being staked on the network had continued to grow, now getting close to another important milestone for the network. Staked ETH Almost At 14 Million By the time the Merge was to be implemented, there had been more…
sponsored One of the core principles of web3 gaming is the idea of decentralisation–more specifically, decentralised ownership of assets. But, the teams at Unix Gaming & Delysium believe that by limiting decentralisation to assets, developers have also been limiting themselves. What started as a desire to create a genuinely next-gen open-world title, even attracting investment from companies like Y Combinator, Delysium has expanded beyond its original confines. Instead, the team at Delysium recently announced that their game would be available for multiverse operators to publish under licence in what they’re…
The trading platform has made three key appointments in sales and business development. Source