Bitcoin (BTC) experienced a drop in value at the start of the week due to the latest nonfarm payrolls report. The report showed an increase in jobs added to the U.S. economy, which many believed justified the Federal Reserve’s decision to hike interest rates by 0.25%. As a result, BTC/USD fell to an intraday low
DEUS Finance, a DeFi protocol, was hacked over the weekend, resulting in a loss of over $6 million. The hackers exploited a vulnerability in DEUS Finance’s own stablecoin DEI on BNB Smart Chain and Arbitrum networks. However, a significant portion of the lost funds has now been recovered. The Hack According to blockchain security firm
Sergey Lavrov, the Russian Minister of Foreign Affairs, has stated that there is a growing understanding about increasing the use of national currencies in settlements between the member states of the Shanghai Cooperation Organisation (SCO). The statement was made following discussions with counterparts in Panaji, the capital of the Indian state of Goa. To achieve
Billionaire Bill Ackman, CEO of Pershing Square Capital Management, has voiced concerns over the US regional banking system and warned that time is running out for the government to fix the banking system. Ackman has pointed the finger at the Federal Deposit Insurance Corporation (FDIC), blaming the agency’s “failure” to update and expand its insurance
Nomba, a Nigerian fintech startup, has successfully raised $30 million in a pre-Series B funding round. The equity round was led by San Francisco-based Base10 Partners and saw participation from Helios Digital Ventures, Shopify, Partech, and Khosla Ventures. The startup, formerly known as Kudi, plans to use the investment to develop a payments solution that
According to Kommersant, Russia saw seven placements of digital financial assets (DFAs) worth about 1 billion rubles ($13 million) in April. DFAs are a relatively new type of asset defined in Russia’s “On Digital Financial Assets” law, which came into effect in January 2021. Unlike decentralized cryptocurrencies, DFAs represent “digital rights” to securities or utility
New York State Attorney General Letitia James has put forth a proposal for landmark legislation to regulate the cryptocurrency industry. This proposal aims to provide protection for investors, consumers, and the broader economy. The proposed bill, titled “Crypto Regulation, Protection, Transparency, and Oversight (CRPTO) Act,” is considered the strongest and most comprehensive set of regulations
As of May 6, 2023, the total value locked (TVL) across all defi platforms has reached $49.31 billion. Lido Finance currently leads the pack with a 24.82% share of $12.24 billion. Over the past month, Lido’s TVL has grown by 9%, while posting a moderate 2.42% increase in the preceding week. This growth has helped
The Ethereum Foundation recently transferred nearly $30 million in Ether (ETH) to the Kraken cryptocurrency exchange, causing concerns among traders about a possible selloff event. This resulted in a 4.8% decline in the price of ETH to $1,900. However, this decrease has been insignificant so far, given the wider recovery trend in the market. Despite
Bitcoin Cash is set for a network upgrade on May 15 and one of the most discussed improvement proposals is the Cashtokens CHIP. Pro-freedom technologies advocate and software developer, Jason Dreyzehner, believes the upgrade will permit advanced on-chain applications, such as higher-security vaults, decentralized exchanges, and bridged sidechains, making it comparable to ethereum, more scalable,