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Cryptocurrency

MakerDAO Initiates Executive Vote On Flash Loan Attacks

  • The changes were proposed after last week BProtocol’s team used borrowed flash loans to sway a vote in their favor.
  • If approved by the community, the Maker protocol will increase its GSM Pause Delay and deauthorize its Oracle Freeze Module and Liquidations Circuit Breaker.
Illustration from Freepik

  • The changes were proposed after last week BProtocol’s team used borrowed flash loans to sway a vote in their favor.
  • If approved by the community, the Maker protocol will increase its GSM Pause Delay and deauthorize its Oracle Freeze Module and Liquidations Circuit Breaker.
Illustration from Freepik

Uniswap’s Second Governance Proposal Could See 5 Million UNI Airdropped

  • The governance proposal has less than a day to come up with another 12 million votes in favor in order to reach the required 40 million votes for a quorum.
  • If passed, a secondary proposal for retroactive distribution will be put forth, this time involving almost 27,000 accounts.
Illustration from Freepik

Aave Hands Over Control To The Community

  • After prolonged preparation and testing, the company finally took the last step towards full decentralization of the protocol.
  • Aave also released a detailed plan of the admin key handover, effectively giving full control over the platform to public governance.
Illustration from Freepik

Binance’s $100 Million Accelerator Fund Adds 5 New Projects

  • Along with the first batch of blockchain companies who received funding, the projects working on Binance Smart Chain now number 11.
  • The exchange platform will look to recruit more new developer organizations, which are inclined to foster innovation and help grow the Binance ecosystem.

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Binance CEO Changpeng Zhao speaking at a conference. CoinDesk

Forbes Alleges Binance Schemes To Evade Regulators, Binance CEO Responds

  • The report by Forbes Crypto alleges that Binance employed an elaborate scheme to circumvent US regulations by distracting them with the "Tai-Chi Entity".
  • Binance CEO denied the accusations, stating that the article was FUD and that Binance had always operated within the boundaries of the law.
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Crypto Derivatives Exchange FTX Now Offers Tokenized Stocks Trading

  • FTX has partnered with Digital Assets AG and CM Equity to make the new feature possible.
  • The new tokens represent a fraction of blue chip stocks like Apple, Tesla, and Amazon.
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Fireblocks Reaches $150 Billion In Digital Asset Transfers, Expands Into Europe

  • The company announced the addition of two new European offices in Germany and France.
  • In order to bring more legal clarity to the processes connected to operating in the region, Fireblocks has also appointed a new Global Chief Compliance Officer in the face of Jason Allegrante.
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Avalanche Wallet Receives Cyber Security Stamp Of Approval From Halborn

  • After the completion of the audit, Avalanche implemented many of Halborn’s suggested security improvements.
  • The company called out for community developers to join their ranks and contribute to the security and performance of the ecosystem.
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Opinion: Why The $100,000 Harvest Finance Bounty Is Absurd

  • Only if we put ourselves in the shoes of the attacker can we find a possible angle of negotiation in a bid to recover more from the 13 million USDC and 11 million USDT that were profited from the arbitrage scheme.
  • Although the Harvest Finance team has acted responsibly in the face of an unprecedented-to-the-project crisis, their bounty reward initiative is naive.
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Harvest Finance Exploit Explained, Team Announces Plan Of Action

  • The attacker used a flash loan from Uniswap to fund his arbitrage scheme, profiting a total of $24 million in the end.
  • The Harvest Finance team has announced a $100,000 reward for anyone who is able to convince the attacker to return the funds.
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The Harvest Finance Exploit

  • An attacker managed to devise a scheme by which they were able to effectively steal $24 million in crypto assets using arbitrage between multiple DeFi platforms.
  • After the exploit became known, TVL on Harvest Finance rapidly dropped as did the price of its native FARM token.
Close up of PayPal logo at their headquarters in Silicon Valley in San Jose, CA, USA, photographed on January 31, 2020. Sundry Photography/Shutterstock

Opinion: The Impact Of PayPal Entering The Crypto Market

  • PayPal will expose cryptocurrency access to its 346 million user base and 26 million merchants worldwide.
  • The news is a stamp of mainstream approval on cryptocurrency, but doesn't come without its downsides, including asset encapsulation and centralization, the latter seen by many as the enemy of what Bitcoin stands for.
Illustration from Freepik

IDEX 2.0 Launches, Fixes UX Issues, Plans To Eliminate All Gas Fees

  • The upgrade started Phase 1 our of 3, allowing users to migrate their tokens from IDEX 1.0 to IDEX 2.0 with the help of supporting tools.
  • The new platform is said to significantly lower transaction costs and number of failed transfers, with plans to completely remove gas fees in Phase 2.
PayPal logo and sign in front of PayPal Holdings headquarters building in North San Jose Innovation District in Silicon Valley, San Jose, California, USA on March 17, 2019. Michael Vi/Shutterstock

PayPal Partners With Paxos To Offer Crypto Payments In 2021

  • Through this partnership, PayPal was able to obtain a conditional license from the NYDFS, enabling its customers to buy and sell cryptocurrencies.
  • PayPal customers will also be able to use crypto to shop in any of its 26 million merchants around the globe, starting from early 2021.