Crypto lending firm Celsius reportedly affected in BadgerDAO exploit

Cryptocurrency lending platform Celsius has reportedly lost over $50 million in the exploit of decentralized finance (DeFi) protocol BadgerDAO. As reported by Cryptox on Dec. 2, the attack targeted the protocol on the Ethereum network, reaping an unconfirmed $120 million in assets. According to one Redditor, the biggest alleged victim of the hack was an address that lost 896 Wrapped Bitcoin ($51 million). The address is supposed to be owned by Celsius “since it has interacted with other addresses known to be owned by them.” The address regularly transacts with…

$31M drained from MonoX and BadgerDAO losses top $120M

More than $150 million has been lost this week in separate security breaches at DeFi projects MonoX and BadgerDAO. Multi-chain decentralized exchange (DEX) MonoX (MONO) suffered a cyber attack on Nov. 30 leading to about $31 million in losses. BadgerDAO (BADGER) suffered a front-end attack that was discovered on Dec. 2 with estimates of Badger’s losses hitting more than $120 million. The MonoX DEX platform suffered a single attack on Nov. 30. In this attack, a bug in the smart contract allowed for a discrepancy to exist between prices of…

Fed’s Quarles says regulators should show ‘constraint’ on stablecoins to avoid hampering innovation

Speaking publicly for the last time as a member of the Board of Governors of the Federal Reserve System, Randal Quarles urged regulators to exercise restraint on stablecoins. In a prepared statement for his speech at the American Enterprise Institute on Dec. 2, Quarles expressed concern that regulations could hamper innovation in the digital asset space, particularly when it comes to stablecoins. According to the Fed governor, some of the approaches on stablecoin regulation from the President’s Working Group on Financial Markets’ November report are unnecessary, including “limiting wallet providers’…

Iota set to launch decentralized smart contract platform to expand Web3 ecosystem

Iota has announced the release of decentralized layer-one smart contract network Assembly, and accompanying ASMB token, in a bid to accelerate the expansion of smart contracts across a multitude of sectors, including decentralized finance (DeFi) and nonfungible tokens (NFTs). Assembly utilizes the Iota network’s existing architecture, most notably the directed acyclic graph structure, to operate adjacently as an interoperable, self-sovereign bridge that reaps the benefits of scalability and robust security, among others. Decentralized application, or DApp, developers have the ability to create their own smart contract chains and set individual parameters for…

An Advisor’s Guide to Popular Crypto Wallets

CryptoX – Cryptocurrency Analysis and News Portal Step one for any crypto newcomer, according to Castro, is learning how both exchanges and wallets even work. One of the most popular exchanges for beginners, Coinbase, has been around since 2012 and went public on the Nasdaq in 2021. Coinbase allows users to buy/sell over 100 unique cryptos, which is a good starting point for most. Original Source The post An Advisor’s Guide to Popular Crypto Wallets appeared first on CryptoX. CryptoX Portal

The Long Strange Journey of Facebook’s Libra Project

This episode is sponsored by NYDIG. Download this episode On today’s episode, NLW does a retrospective of Facebook’s libra project, which was renamed late last year to diem. He argues that, whatever happens with diem specifically, it has a place in the historical record as the starting gun for a new era in stablecoins and central bank digital currencies. Join the discussion: discord.gg/VrKRrfKCz8 See also: Jury in Kleiman v. Wright Civil Suit Says It ‘Cannot Come to a Decision’ “The Breakdown” is written, produced by…

Meta Relaxes Crypto Ad Policies

CryptoX – Cryptocurrency Analysis and News Portal The tech giant splits crypto companies into two categories depending on whether prior written approval is needed to list ads. Tax services, news outlets and education sources related to crypto don’t need prior approval, nor do crypto wallets that only allow users to store assets without buying and selling. Crypto exchanges and trading platforms, full-service crypto wallets and mining-related hardware and software companies all require approval. Source The post Meta Relaxes Crypto Ad Policies appeared first on CryptoX. CryptoX Portal

Bitcoin Rangebound Between $55K Support and $60K Resistance

Bitcoin (BTC) price momentum is improving, which could limit further downside between the $53,000-$55,000 support range. Buyers will need to make a decisive move above $60,000 resistance to yield an upside target toward the all-time price high near $69,000. For now, BTC is trading in a tight range and is roughly flat over the past week. The relative strength index (RSI) on the daily chart is rising from oversold levels last week, which typically precedes a price bounce. Support remains intact given the…

Online electronics shop Newegg to accept Shiba Inu crypto during holidays

Major American electronics retailer Newegg continues diving is enabling payments in major cryptocurrency and mem, Shiba Inu (SHIB). Newegg officially announced Nov. 29 that it will start accepting SHIB as part of its holiday promotional campaign, starting “by early December.” Hey #ShibArmy, how we looking on America’s largest digital out-of-home billboard? @ShytoshiKusama #Shib We’ll be officially accepting @Shibtoken in by early December via @BitPay https://t.co/MR2ydiQpq6 pic.twitter.com/MyuxHSIjVw — Newegg (@Newegg) November 30, 2021 In order to enable the new payment option, Newegg partnered with cryptocurrency payments platform BitPay. The firm previously…