Some see the proposed pilot project as an “important step,” while others say it may lead to reduced trading activity. Source
First Mover Asia: Uniswap ‘Fee Switch’ Proposal for Popular Ether Pools Stirs Up Community Debate
Day: December 11, 2022
Rock Legend Gene Simmons Is Holding Crypto Despite Market Sell-Offs and FTX Collapse – Featured Bitcoin News
Rock band Kiss’ lead singer Gene Simmons has confirmed that he is still holding crypto despite the crypto winter and the collapse of cryptocurrency exchange FTX. “I’m deep in crypto. I believe in it,” the rock legend affirmed. Noting that he has several cryptocurrencies, including bitcoin and ethereum, Simmons stressed: “Personally, I’m holding, but everybody should do their own due diligence.” Gene Simmons Says He’s ‘Deep in Crypto’ Rock legend Gene Simmons confirmed Thursday that he is still holding cryptocurrencies despite the crypto winter and the collapse of crypto exchange…
Bitcoin’s boring price action allows XMR, TON, TWT and AXS to gather strength
The relief rally in the United States equities markets took a breather this week as all major averages closed in the red. Traders seem to have booked profits before the busy economic calendar next week. The S&P 500 index dropped 3.37%, but a minor positive for the cryptocurrency markets is that Bitcoin (BTC) has not followed the equities markets lower. This suggests that crypto traders are not panicking and dumping their positions with every downtick in equities. Crypto market data daily view. Source: Coin360 The range-bound action in Bitcoin suggests…
3Commas denies staff members stole API keys
Crypto trading firm 3Commas denied its employees’ stolen user’s API keys, claiming the screenshots circulating on social media are fake, and urged affected users to file a police report in order to stop withdrawals in exchanges. In a blog post published on Dec. 11, 3Commas co-founder and CEO Yuriy Sorokin said that fake screenshots of Cloudflare logs are circulating on Twitter and YouTube “in an attempt to convince people that there was a vulnerability within 3Commas and that we were irresponsible enough to allow open access to user data and…
Hacker Steals $6.9 Million From Arbitrum-Based Defi Protocol Lodestar Finance – Defi Bitcoin News
Arbitrum-based lending platform Lodestar Finance was exploited on Dec. 10, 2022, according to a tweet from the project’s Twitter account on Saturday. Community reports detail that Lodestar lost roughly $6.9 million from the vulnerability. Lodestar Finance Loses $6.9 Million in an Exploit, TVL Drained, LODE Drops by 53% Another decentralized finance (defi) platform, Lodestar Finance was hacked for $6.9 million in an exploit, a number of reports detail. “[The] protocol was exploited and deposits have been drained,” Lodestar’s official Twitter account said. “We have set all interest rates to 0…
Binance’s proof-of-reserves raises red flags: Report
Binance’s efforts to improve transparency of its reserves also exposed red flags in the crypto exchange’s finances, according to accounting and financial specialists consulted by The Wall Street Journal. As noted by a former Financial Accounting Standards Board (FASB) member and investment manager, the report released by the audit firm Mazars does not bring investors confidence about the exchange’s finance as it lacks information related to the quality of internal controls and how its systems liquidate assets to cover margin loans. Another red flag raised by the newspaper’s sources is…
Before the Bankruptcy Filing, FTX Co-Founder SBF Was Told by Crypto Execs to ‘Stop Trying to Depeg Stablecoins’ – Bitcoin News
According to a recent report published by the Wall Street Journal (WSJ), cryptocurrency executives were allegedly concerned that Sam Bankman Fried’s (SBF) Alameda Research was trying to “depeg stablecoins.” Purportedly, high-up executives from crypto exchanges are members of a Signal chat group called “Exchange coordination,” and Binance CEO Changpeng Zhao (CZ) ostensibly told SBF to stop causing “more damage.” Binance CEO Allegedly Told SBF to Stop Causing ‘More Damage’ and to ‘Stop Trying to Depeg Stablecoins’ The Wall Street Journal (WSJ) reports that just before the crypto exchange FTX filed…
Former top SEC crypto regulator hired by Caroline Ellison
A former top crypto regulator in the United States Securities and Exchange Commission (SEC) will represent Caroline Ellison, ex-Alameda Research CEO, in an ongoing federal probe, according to a report from Bloomberg on Dec. 10. Caroline will be represented by Stephanie Avakian and a team of attorneys from WilmerHale. Avakain is currently chair of the Securities and Financial Services department at the law firm. At the SEC, where she was a director at the Enforcement Division and responsible to expand cryptocurrency oversight, bringing cases against Robinhood and Ripple Lab. According…
Goldman Sachs Is Trying to Make Blockchain Bonds Happen
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Lodestar Finance exploited in flash loan attack
Arbitrum-based lending protocol Lodestar Finance was exploited in a flash loan attack on Dec. 10. According to Lodestar, the attacker manipulated the price of the plvGLP token before borrowing all platform liquidity using the inflated token. In a Twitter thread, Lodestar explained the attack flow. The attacker first manipulated the exchange rate of the plvGLP contract to 1.83 GLP per plvGLP, “an exploit that by itself would be unprofitable”, said the company. Then, the attacker supplied plvGLP collateral to Lodestar and borrowed all available liquidity, cashing out part of the…