Day: September 23, 2023

FTX CEO’s Asset Recovery Escalates As Sam Bankman-Fried Trial Looms

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In a battle to recover billions of dollars following the collapse of FTX, Chief Executive and Restructuring Officer John J. Ray III, is intensifying efforts just weeks before FTX founder Sam Bankman-Fried faces trial in what has been labeled one of the largest financial frauds in American history. Bankruptcy court proceedings kicked off the week as FTX filed a lawsuit against Bankman-Fried’s parents, Allan Joseph Bankman and Barbara Fried.  The suit aims to reclaim millions of dollars allegedly fraudulently transferred and misappropriated by the couple, who purportedly took advantage of…

Top US Crypto Exchange Coinbase Adds Trading Support for New Under-the-Radar Layer-1 Project

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Customers at Coinbase can now trade the native token of a nascent layer-1 project called Vara Network (VARA). The top US crypto exchange rolled out support this week for VARA, the native asset of Vara Network, which just celebrated its mainnet launch on Wednesday. The project is an independent decentralized layer-1 network that aims to enable “the best playground” for next-gen gaming and financial-based applications. It’s built on the Gear Protocol, a Substrate-based smart-contract platform. Says the Vara website, “Building on Vara Network is ideal for both developers already in…

CRV Spikes 22% In 2 Weeks As Whale Withdraws From Binance

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CRV, the native currency of Curve Finance, the decentralized exchange focused on stablecoins, is shaking off August’s weakness and printing higher highs when writing on September 22. Trackers reveal that CRV is up 22% in the past two weeks, adding 10% in the last week alone. Coincidentally, there has been increased activity from a whale moving CRV from Binance, the world’s largest crypto exchange by client count. Whale Offloads CRV From Binance To Curve Finance According to The Data Nerd, a tracker, a whale transferred 1.542 million CRV, worth roughly $684,000, from Binance.…

Balancer DAO salutes defi response team for aid in $230K UI exploit

Balancer DAO, a decentralized autonomous organization governing the protocol, protocol thanked a team of security experts for their help following a DNS attack on a top level .fi domain registrar employed by Balancer. Balancer DAO called attention to SEAL 911, a Telegram bot built during the Curve Wars that ensued following the Curve Finance exploit. The bot operates as an emergency channel that connects users and protocols to a pool of vetted defi security experts. The Balancer DAO would like to express its heartfelt gratitude to all ecosystem members who…

Shiba Inu (SHIB) Burn Rate Sees Exponential 627% Jump

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Shiba Inu has seen an impressive recovery in its burn rate after recording a slow start to the week. The recent acceleration could suggest that investors are once again rousing and choosing to actively contribute to the reduction of supply which could lead to an increase in price. Shiba Inu Burn Rate Rises 627% Thursday, September 21, has proven to be one of the best weeks for the meme coin in terms of its burn rate. According to Shiba Inu burn tracking website Shibburn, the cryptocurrency saw a 6277% jump…