Tag: finance

Renowned Finance Author Says Buy Bitcoin Now Before It’s Too Late, Here’s Why

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Renowned finance author Robert Kiyosaki has never been shy about his support for Bitcoin and he continues to push for more adoption of the asset. Kiyosaki who wrote the infamous ‘Rich Dad Poor Dad’ book is back once again with a piece of advice, and a warning, for investors regarding Bitcoin. Buy Bitcoin Now, Says Kiyosaki In normal fashion, Kiyosaki took to Twitter to sound the warning about rising prices due to inflation. This tweet was made back on November 23 where the author lamented the reality of individuals who…

How Indexed Finance Foiled Two Treasury Hijack Attempts

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In an interesting line of events, Ethereum-based DeFi project Indexed Finance recently faced and triumphed over a dual hijack attempt of the protocol DAO’s treasury. Following this development, the project’s founders will now re-assume control from the DAO. In a thread on X on Saturday, Laurence Day, a former executive at Indexed Finance, shared two failed hijack attempts targeted at the treasury of the project’s DAO, which is currently valued at  $120,000. According to Day, both attackers purchased a high amount of Indexed’s native token – NDX and attempted to…

Indexed Finance thwarts hijackers, set to compensate 2021 hack victims

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Indexed Finance, an Ethereum-based project that suffered a $16 million hack in 2021, has successfully thwarted two hijacking attempts. Control of the project’s decentralized autonomous organization (DAO) will be returned to its founders, who aim to allocate the remaining treasury to victims of the 2021 hack. In a thread on X (formerly Twitter), Laurence Day, a former core contributor, detailed the efforts of the Indexed community in overcoming two hijacking attempts on the remaining treasury of the Indexed DAO. Both attackers acquired significant amounts of the protocol’s NDX token and…

Binance onboarded millions into finance but forgot the paperwork — Columbia professor

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Recent events surrounding the crypto exchange Binance sparked significant debate about the United States’ crackdown on crypto firms. According to Omid Malekan, adjunct professor at Columbia Business School and author, the Department of Justice’s approach in the case is very different from what is seen in traditional finance. “People who sincerely believe that crypto is some unique enabler of bad people doing bad things don’t understand how the rest of the financial system actually works,” Malekan wrote on X (formerly Twitter), adding that companies that follow Anti-Money Laundering best practices…

KyberSwap attacker used ‘infinite money glitch,’ Australia’s tax agency won’t clarify DeFi rules: Finance Redefined

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Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week. The attacker who stole $46 million from the KyberSwap protocol has used a complex strategy described by a DeFi expert as an “infinite money glitch.” With the exploit, the attackers tricked the platform’s smart contract into believing it had more liquidity available than it did. Australia’s tax regulator has failed to clarify its rules on DeFi despite Cointelegraph reaching out for answers.…

Sushi to test Bitcoin swaps and Opyn DeFi protocol founders cave to CFTC pressure: Finance Redefined

Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week. A new DeFi report has highlighted that a significant amount of crypto lost to exploits was due to traditional Web2 flaws and security issues, such as centralization of information, which makes it easier to exploit. Decentralized exchange (DEX) platform Sushi is set to begin testing for Bitcoin (BTC) swaps on 30 blockchains using the interoperability platform ZetaChain. The two founders of the…

How Web3 is causing an evolution of traditional finance

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As decentralized finance grows in popularity, many wonder what the future holds for traditional finance (TradFi). In episode 37 of Cointelegraph’s Hashing It Out podcast, Elisha Owusu Akyaw talks to Sarah Clark, the CEO of E-Gates, about how TradFi plans to compete and collaborate with the Web3 space and what that means for global payments moving forward. The episode also highlights issues around Web3 payments, such as regulatory compliance, fraud prevention and customer trust.  Clark has worked at multiple TradFi firms like PayPal and Barclays before pivoting to Web3. She explains…

New York finance regulator tightens crypto listing guidance

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Guidelines for firms listing and delisting cryptocurrencies in New York have tightened up to better protect investors, according to the state’s financial regulator. The New York State Department of Financial Services (NYDFS) unveiled new restrictions on Nov. 15 which mandate crypto companies submit their coin listing and delisting policies for NYDFS approval. Company policies will be measured against more stringent risk assessment standards set forth by the NYDFS to protect investors. Technological, operational, cybersecurity, market, liquidity and illicit activity risks of the tokens are among the factors to be considered…

Does Crypto Finance Hamas and Other Terrorists?

To obscure the money trail, the exchanges often changed the wallet addresses they used each day, and sent funds through mixers, Israeli officials said.”Intelligence chiefs say hawala networks – informal remittance systems – have funneled millions of dollars from Iran to Hamas’s military wing and that the wallets identified and targeted by Israel are probably just a fraction of those in existence. (Mixers combine currency transactions, making them harder to trace.) Source

Ethereum-Based Blockchain Kinto Aims to Bring Real-World Assets (RWA) to Decentralized Finance (DeFi) with Fresh Investment

Kinto secured $1.5 million in a pre-seed investment earlier this year from Kyber Capital Crypto, according to a press release on Tuesday. It received another $3.5 million recently in a round led by Kyber Capital Crypto, Spartan Group and Parafi. SkyBridge Capital, Kraynos, Soft Holdings, Deep Ventures, Modular, Tane and Robot Ventures also participated in the round. Source link