However, TUSD issuer previously said that it had “no exposure” to the imploded crypto custodian Prime Trust, which acted as the stablecoin’s banking partner in the U.S. The issuer tweeted it paused minting tokens via Prime Trust on June 10, adding that “minting and redemptions services remain unaffected” through other banking rails. Source
Yield Protocol announced on June 27 that it had fully recovered from the Euler flash loan attack. Liquidity providers can now update their strategy tokens, the protocol said on Twitter. That was the last step to protocol restoration after “a long journey.” Yield Protocol was one of the 11 decentralized finance protocols that suffered losses after the attack on the noncustodial lending protocol Euler Finance. It paused mainnet borrowing after the hack on March 13 and claimed losses from its liquidity pools were under $1.5 million. Euler lost over $195…
Over $204 million was lost in decentralized finance (DeFi) hacks and scams in the second quarter of 2023, according to a June 27 report from Web3 portfolio app De.Fi. The report, titled “Q2 De.Fi Rekt Report,” was partially based on data from De.Fi’s “Rekt Database.” Over $208.5 million was initially lost during the quarter, but $4.5 million was recovered through prosecutions, deals with hackers and other recovery methods. Funds lost and recovered in Q2 2023. Source: De.Fi According to the report, the number of DeFi hacks in Q2 rose by…
Additionally, the Crossmint WaaS allows users to purchase NFTs in fiat. The service was previously offered to companies including airline airBaltic, energy drink Red Bull, technology company ASUS and alcohol giant Diageo, and is now being rolled out to the public. Source
Prime Trust entered an agreement with Fireblocks to have the latter company manage its crypto assets, which was completed in 2020. In 2021, after Prime Trust saw new management, it set up “legacy wallet forwarding,” for wallets that were either on Fireblocks’ platform or set up to forward to wallets on Fireblocks’ platform, the filing said. However, in December 2021, Prime Trust “discovered that it was unable to access” its legacy wallets or cryptocurrencies held in those wallets. Source
A federal judge overseeing the case against former FTX CEO Sam Bankman-Fried (SBF) has denied motions from his legal team seeking to dismiss all but three criminal charges against him. In a June 27 filing in the United States District Court for the Southern District of New York, Judge Lewis Kaplan issued a memorandum opinion on motions that would have stopped the discovery and disclosure of certain information related to SBF’s criminal case. Bankman-Fried’s legal team filed motions on May 8 aiming to have the judge dismiss 10 out of…
Former Twitter CEO Jack Dorsey, who now heads the Bitcoin-focused financial services firm Block, is going straight to the top in his quest for answers on why Apple, the giant computer and smartphone maker, doesn’t offer bitcoin (BTC) support for its mobile payment service, Apple Pay. Original
The ETF saw $500 million worth of trades in the first 15 minutes. Source
Summary: Fidelity could submit a Bitcoin (BTC) spot ETF application as early as Tuesday, The Block reported citing a source. A flurry of BTC ETF applications came from companies like Widomtree and Invesco after BlackRock’s filed on June 15. Bitcoin broke above $30,000 for the first time since April shortly after BlackRock’s filing with the U.S. Securities and Exchange Commission. Asset management heavyweight Fidelity is reportedly working on filing a Bitcoin spot ETF application with the U.S. Securities and Exchange Commission, per crypto news outlet The Block citing a familiar…
Cryptocurrencies Cardano (ADA) and Solana (SOL) fell more than the broader crypto market on Tuesday, just before trading app Robinhood was set to delist them later in the day at 6:59 p.m. ET. Original Source ADACrackdownDelistRobinhoodSECSetSOLUnderperform CryptoX Portal