Gino Matos

MakerDAO founder proposes strict deflationary tokenomics amid rebranding process

Rune Christensen, founder of Sky (formerly MakerDAO), has proposed a strictly deflationary approach to the protocol’s governance token as the community prepares to vote on whether to revert its brand or not on Nov. 11. Christensen explained that the proposed changes would affect the governance token supply, whether it continues as SKY or pivots back […]
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Cryptocurrency

Tether hits $7.7 billion in profit YTD as reserves reach record high

Tether Limited reported $2.5 billion in net profit for the third quarter, bringing its year-to-date profits to a record-breaking $7.7 billion. The firm’s strong third-quarter numbers were primarily boosted by its gold holdings, which amount to roughly $5 billion, recording $1.1 billion in unrealized profit. According to Tether’s latest assurance opinion, conducted by accounting firm […]
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Cryptocurrency

Crypto firms among top targets of audio and video deepfake attacks

Crypto companies are among the most affected by audio and video deepfake frauds in 2024, with more than half reporting incidents in a recent survey. According to the survey conducted by forensic services firm Regula, 57% of crypto companies reported being victims of audio fraud, while 53% of the respondents fell for fake video scams. Those […]
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Cryptocurrency

Coinbase files FOIA requests targeting FDIC over crypto banking restrictions

Coinbase filed two new Freedom of Information Act (FOIA) requests on Oct. 18, seeking regulatory clarity for crypto in the US. The new requests are directed at the Federal Deposit Insurance Corporation (FDIC) and were filed by History Associates Incorporated on behalf of the exchange. Coinbase chief legal officer Paul Grewal said one of the requests […]
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Cryptocurrency

Coinbase to face shareholder lawsuit over SEC risks, judge rules

A federal judge has rejected Coinbase’s motion to dismiss a proposed class action lawsuit by shareholders, Reuters reported Sept. 6. The lawsuit accuses the largest US crypto exchange of downplaying the likelihood of being sued by the US Securities and Exchange Commission (SEC). US District Judge Brian Martinotti ruled on Sept. 5 that shareholders adequately […]
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Cryptocurrency

Kamala Harris turns to Coinbase for crypto campaign donations, CFO reveals

Coinbase CFO Alesia Haas revealed that Vice President Kamala Harris‘s campaign is using Coinbase Commerce to accept crypto donations, Fortune reported Sept. 4. Haas made the revelation during a conversation with Citigroup‘s director of payments, Peter Christiansen, at the lender’s 2024 Global TMT Conference in New York. According to Haas: “[Kamala] is accepting crypto donations. She’s […]
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Cryptocurrency

Penpie exploited for $27 million in reentrancy attack

Yield protocol Penpie got exploited for $27 million on Sept. 3 after a malicious agent explored a vulnerability in the protocol’s smart contracts. Penpie is a yield protocol on Pendle that aims to boost rewards for users on the network. Reentrancy exploited In a Sept. 4 breakdown, blockchain security firm Hacken explained that the attacker […]
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Cryptocurrency

Trump family’s upcoming DeFi project aims to cement US dollar dominance via stablecoin revolution

World Liberty Financial (WLFI) — a DeFi project tied to members of former President Donald Trump’s family — responded to a wave of speculation on Sept. 4 with a series of tweets clarifying its DeFi strategy and confirming its collaboration with Aave. In the posts, WLFI announced the partnership aims to develop a platform that will […]
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Cryptocurrency

Bitcoin ETFs daily trading volume surpasses $5 billion to hit 4-month high

Spot Bitcoin (BTC) exchange-traded funds (ETFs) recorded over $5 billion in daily trading volume in the US on Aug. 5. This is the first time spot Bitcoin ETFs in the US have registered over $5 billion since mid-April. According to DefiLlama, BlackRock’s IBIT was responsible for nearly $3 billion in trading volume and managed to […]
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Cryptocurrency

Ethereum price struggles as large holders continue offloading

Ethereum (ETH) price is still under heavy sell pressure after the weekend’s market crash, with major holders continuing to offload despite bulls attempting a recovery. According to X (formerly Twitter) user Lookonchain, a whale and asset manager Metalpha dumped nearly $73 million in ETH in the latter hours of trading on Aug. 5. Onchain data […]
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Cryptocurrency