DeFi & Ethereum News

2023-01-27 05:58:02 Proof Founder Kevin Rose Just Had Over $1M Worth of NFTs Stolen From His Wallet

The crypto world still feels like the Wild West at times, especially when even seasoned Web3 creators and NFT collectors fall victim to exploits that typically claim less-experienced traders. That happened again Wednesday afternoon as Kevin Rose.

A total of 40 NFTs were apparently taken from his krovault.eth wallet early Wednesday afternoon, including about 25 Chromie Squiggles from the Art Blocks project, as well as a valuable Autoglyphs NFT from original CryptoPunks creator Larva Labs. Rose confirmed the event via a tweet soon after speculation began circulating on Twitter. Public wallet data displayed via the OpenSea marketplace shows that Rose apparently began transferring some of his most valuable NFTs out of the krovault.eth wallet.

Source

https://t.me/DeFi_Ethereum Open / Comment

2023-01-26 06:30:41 Lido Team Provides Design For Staked Ether Withdrawals

The Lido team put up ideas for how the protocol should handle ether withdrawals when Ethereum’s forthcoming Shanghai upgrade has been turned on. The design paper also stated that Lido’s bunker mode tries to stop knowledgeable actors.

The Lido team put forward its designs to the Lido DAO, the project’s form of governance, via a post on the community’s forum. The feature will enable users to unstake their staked ether tokens once the Shanghai upgrade happens. The Lido team characterized the withdrawal feature’s creation as a challenging undertaking. Due to the way staked ether withdrawals will function after the Shanghai upgrade, this complexity exists. Withdrawals won’t occur for everyone participant at the same time because the procedure will be asynchronous.

Source

https://t.me/DeFi_Ethereum Open / Comment

2023-01-25 06:07:02 SEC Commissioner Stresses “The Point Of Crypto” As The Market Seeks To Recover

After a disastrous year, Hester Peirce, a commissioner on the Securities and Exchange Commission (SEC), advises industry participants to keep in mind what cryptocurrency is actually all about. Peirce said that it is up to those working in the sector to increase the value of cryptocurrencies.

Peirce brought out some lessons to be learnt from the problems that the crypto business had to deal with last year in a keynote at the Digital Assets at Duke conference. The commissioner claimed that 2022 was a “awful, dreadful, no good, very poor year” for authorities and the cryptocurrency industry. Peirce thought there were some important lessons to be learned from the myriad issues that cropped up last year, though. Peirce said that it is up to those working in the sector to increase the value of cryptocurrencies.

Source

https://t.me/DeFi_Ethereum Open / Comment

2023-01-24 06:27:02 Ripple [XRP] Gains 20% As The Countdown To The SEC Decision Begins

According to CoinMarketCap statistics, Ripple’s [XRP] market value surpassed $20 billion for the first time since the FTX epidemic hit the market more than two months ago. The network expansion and velocity of the cryptocurrency have dropped.

This followed the global crypto market value recovering the $1 trillion level, indicating a reversal of FTX-induced losses. Interestingly, after Garlinghouse’s assertion on the settlement resolution date, XRP broke through the crucial resistance level of $0.39. The price was facing resistance around $0.4093 at the time of writing. This level has previously hindered XRP’s climb, so bulls will be trying to break through it to support the concept of an FTX turnaround. given the legislation and the circumstances on the ground, Ripple felt positive about its chances.

Source

https://t.me/DeFi_Ethereum Open / Comment

2023-01-23 06:07:02 Uniswap Detected Bug Doesn’t Refund Unspent ETH In Partial Swaps

A developer found a bug in the Uniswap core contract SwapRouter, and the unspent ETH in the transaction will remain in the SwapRouter contract and will not be refunded. The developer said the vulnerability was discovered in December last year but was rejected by Uniswap security.

The developer said the vulnerability was discovered but was rejected by Uniswap security researchers after submitting a bug report. The bug allows users to lose funds while interacting with the contract in the standard way. Additionally, SwapRouter allows anyone to withdraw ETH from the contract; it could be an MEV bot or anyone calling for refunds after the transaction. This bug was established due to Uniswap’s decision to introduce the Universal Router, which combines NFTs and ERC-20 tokens into a single swap router.

Source

https://t.me/DeFi_Ethereum Open / Comment

2023-01-22 05:55:03 Coinbase Again Downgraded By Moody’s For Significant Reduced Revenue In 2022

Moody’s, a major provider of credit ratings, announced on Friday that it had lowered Coinbase’s long-term credit rating as well as the notes’ guaranteed senior unsecured status. Moody’s due to significantly diminished revenue and cash flow generating capabilities.

The long-term corporate family rating (CFR) for Coinbase, which measures the possibility of a corporate family defaulting on its obligations, was cut from Ba3 to B2, both of which are regarded as non-investment grades. According to the company, guaranteed senior unsecured notes were downgraded from B1 to Ba2. The protracted crypto winter, according to the rating agency, has negatively impacted Coinbase’s ability to generate revenue and cash flow. The company was downgraded by S&P earlier this month.

Source

https://t.me/DeFi_Ethereum Open / Comment

2023-01-21 06:20:02 NEAR Foundation Sponsors Composable Finance To Promote DeFi Of The Ecosystem

DeFi protocol Composable Finance announced that it had received funding from the NEAR Foundation. The goal of the grant is to support Composable efforts in building a collaborative environment and spirit for users and developers between its ecosystem and that of the NEAR protocol.

The grant’s objective is to assist Composable in its efforts to create a cooperative atmosphere and mindset for users and developers between its ecosystem and the NEAR protocol. Once connected to NEAR using the Inter-Blockchain Communication Protocol (IBC), Composable will be able to promote and speed up the adoption of Centauri and its infrastructure. The protocol’s ultimate goal is to provide sustainable ways for cooperation among various DeFi ecosystems.

Source

https://t.me/DeFi_Ethereum Open / Comment

2023-01-20 06:22:02 21shares Launches World’s First Crypto Staking Index ETP

The 21Shares Staking Basket Index ETP, the first cryptocurrency staking index ETP to offer exposure to staking rewards, was announced by 21Shares. The index will be rebalanced twice a year, in March and September, to take market changes into account.

The index is the first-ever collection of digital assets to follow the performance of the underlying staked coins through a single ETP while offering exposure to staking incentives. Together with Swedish index provider Vinter, the staking index technique for this product was developed. The company added that among the cryptocurrencies that are tracked by the 21Shares Staking Basket Index ETP are Binance Coin, Cardano, Cosmos, Polkadot, Solana, and Tezos.

Source

https://t.me/DeFi_Ethereum Open / Comment

2023-01-19 06:31:02 TaxBit Now Expands Crypto Services By Acquiring Digital Asset Accounting Startup Tactic

TaxBit, a provider of crypto tax software, on Tuesday announced that Tactic, a software business, would be acquired in order to expand its crypto accounting offerings. actic’s target market of medium-sized to small businesses this week.

By integrating Tactic’s accounting technology into its current corporate accounting suite (CAS) offering, TaxBit will now provide enhanced crypto accounting services in response to customer input. According to TaxBit CEO Austin Woodward, this will make it easier for institutional customers to manage the process of tracking cryptocurrency transactions and pricing for reporting, which should enable customers to close their books in days rather than months.

Source

https://t.me/DeFi_Ethereum Open / Comment

2023-01-18 06:13:02 Nexo Now Sues Cayman Islands Regulator Regarding Virtual Asset License

Nexo, a cryptocurrency lending platform, is suing the Cayman Islands government for refusing the company a virtual asset license, according to The Block.The firm wants the CIMA decision reversed, and the court to rule that it is suitable to be registered and then order CIMA to register it.

Firstly, the Cayman court filing that the Cayman Islands Monetary Authority denied Nexo’s application on December 20 because the firm’s business model did not match the acceptable risk profile. Nexo posed a risk to market confidence, consumer protection and the reputation of the Islands as a financial centre, according to the CIMA. Nexo directors and owners neglected to disclose to the CIMA a potential regulatory enforcement situation in the United States as well as proceedings in English courts.

Source

https://t.me/DeFi_Ethereum Open / Comment