Argentine presidential hopeful Javier Milei — a pro-Bitcoin, anti-central bank libertarian — has won a majority of the votes in a primary election.
Decentral Block Post
Access real-time blockchain and cryptocurrency news updates from around the globe.
Weekend Wrap: Uniswap dev sacked for alleged rug, Steadefi hacker goes mixing and more
Uniswap developer AzFlin has admitted to creating the FRENS token but has argued what he did doesn't constitute a rug pull.
Weekend Wrap: Uniswap dev sacked for alleged rug, Steadefi hacker goes mixing and more
Uniswap dev loses job, was it worth it?
A Uniswap developer known as “AzFlin” has been sacked by the founder of Uniswap Labs, Hayden Adams, for allegedly creating a memecoin and rug pulling it a few hours later for 14 wrapped-Ether (wETH), worth $25,800.
It is understood that AzFlin developed and deployed FrensTech token (FRENS) on Coinbase’s new layer 2 blockchain Base on Aug 12 before selling the tokens raised from the liquidity shortly after.
Adams publicly confirmed the sacking of AzFlin, adding that such behaviour is neither supported nor condoned at Uniswap Labs.
The developer has mocked the situation at hand with a series of light-hearted posts along with a new X (formerly Twitter) cover photo.
AzFlin is making fun of their new unemployment status. Source: X (formerly Twitter).AzFlin, however, claims that no rug pull was committed.
This scenario could spark Gary Gensler’s resignation: Former SEC official
John Reed Stark believes SEC chair Gary Gensler could throw in the towel, depending on a possible scenario to play out in 2024.
This scenario could spark Gary Gensler’s resignation: Former SEC official
John Reed Stark believes SEC chair Gary Gensler could throw in the towel, depending on a possible scenario to play out in 2024.
Zunami Protocol confirms stablecoin pools attacked, $2.1M loss estimated
42 Total views
Listen to article
News
Decentralized finance protocol Zunami Protocol has confirmed it has encountered an attack on its "zStables" stablecoin pools.
Blockchain security firm PeckShield was one of the first to detect the possible exploit on Curve on August 13 at 10:47 UTC. Zunami then confirmed the attack about 20 minutes later.
Zunami said that collateral in the pools remain secure and that the issue is now under investigation.
It is currently believed a flash loan price manipulation attack has taken place, with Zunami USD and Zunami ETH pools impacted.
Zunami Protocol confirms stablecoin pools attacked, $2.1M loss estimated
Blockchain security firm PeckShield estimates the protocol suffered more than $2.1 million from the price manipulation attack.
An ETF will bring a revolution for Bitcoin and other cryptocurrencies
A Bitcoin ETF is on the cusp of receiving approval in the United States — and it may not be long before we see one in Hong Kong or elsewhere in Asia.
Bitcoin’s sideways price action leads traders to focus on SHIB, UNI, MKR and XDC
Bitcoin (BTC) is on track to form two successive Doji candlestick patterns on the weekly charts but a positive sign is that the price is sustaining above the 20-week exponential moving average ($28,072). This suggests that the bulls have not lost their grip.
Popular trader TechDev used the three-week timeframe to show that Bitcoin’s compression above the 20-period moving average was approaching values seen only four times since Bitcoin’s creation. Interestingly, on all three previous occasions, the expansions happened to the upside, suggesting that history favors the bulls.
Crypto market data daily view. Source: Coin360However, in the near term, the lack of volatility has pulled Bitcoin futures trading volumes to their lowest levels since December 2022. Cointelegraph contributor Marcel Pechman believes this shows that traders may have shifted to other markets or maybe avoiding making moves at the current levels.
While several altcoins are looking to Bitcoin for direction, some have outperformed in the near term. Let’s study the charts of the top-5 cryptocurrencies that are looking positive over the next few days.
Bitcoin price analysis
Bitcoin has been trading near the 20-day EMA ($29,447) for the past two days, signaling indecision between the bulls and the bears.
Bitcoin’s sideways price action leads traders to focus on SHIB, UNI, MKR and XDC
SHIB, UNI, MKR and XDC show signs of strength even as Bitcoin price remains stuck inside a narrow range.
Voyager's token transfer to Coinbase grows selloff suspicions
The motive behind these transactions has triggered more speculation within the larger crypto community.
Coinbase gains legal support as scholars file amicus brief
In their filing, the legal practitioners advocated for the Court to steadfastly adhere to the established definition of the term 'investment contract' when interpreting its scope.
Coinbase gains legal support as scholars file amicus brief
In their filing, the legal practitioners advocated for the Court to steadfastly adhere to the established definition of the term 'investment contract' when interpreting its scope.
Bitcoin centralized by corporate giants should not be feared – Michael Saylor
During a recent podcast interview, Michael Saylor explained that Bitcoin being bought and centralized by corporations should not be feared. He outlined three main reasons driving the need for custodians.
Using courts for every crypto issuance will squash innovation: Grayscale CEO
Grayscale CEO Michael Sonnenshein emphasized the need for a balanced regulatory approach to cryptocurrency to avoid hindering innovation in the United States.
Using courts for every crypto issue will squash innovation: Grayscale CEO
Grayscale CEO Michael Sonnenshein emphasized the need for a balanced regulatory approach to cryptocurrency to avoid hindering innovation in the United States.
SBF ordered to jail, Bitcoin ETF delayed and SEC to appeal Ripple case: Hodler’s Digest, Aug. 6-12
Sam Bankman-Fried has bail revoked, ordered to jail; the SEC delays decision on a spot Bitcoin ETF; and the SEC moves to appeal on Ripple’s case.
SBF ordered to jail, Bitcoin ETF delayed and SEC to appeal Ripple case: Hodler’s Digest, Aug. 6-12
Top Stories This Week
Judge revokes Sam Bankman-Fried’s bail, remands him to custody
FTX’s former CEO, Sam “SBF” Bankman-Fried, had his bail revoked by a federal judge in response to the release of information to The New York Times allegedly intended to intimidate witnesses. During a hearing on Aug. 11, Judge Lewis Kaplan revoked Bankman-Fried’s bail and remanded him to custody, likely at the Putnam County Correctional Facility. Once his October trial begins, he could be moved to the Metropolitan Detention Center in Brooklyn. Bankman-Fried was reportedly led out of the courtroom in handcuffs. In Kaplan’s view, Bankman-Fried’s interviews with NYT reporters resulted in sharing information with the likely intention “to hurt and frighten” former Alameda Research CEO Caroline Ellison, his former colleague and girlfriend.
The U.S. Securities and Exchange Commission (SEC) has delayed a decision on whether to approve or disapprove the spot Bitcoin exchange-traded fund (ETF) proposed by ARK Investment Management and 21Shares. ARK originally filed to list the ETF in May, giving the SEC a maximum of 240 days — until January 2024 — to reach a final decision. The SEC’s latest move is fueling expectations that a final verdict will come as part of a batch that includes applications from key players on Wall Street, including BlackRock and Fidelity Investments.
SEC to seek appeal and stay in Ripple Labs court case
The U.S. SEC is moving to appeal a court decision from its lawsuit against Ripple Labs. In a letter to Judge Analisa Torres — the presiding judge in the case — the SEC said it believed her decision warrants a fresh look by an appellate court. The commission asked Judge Torres to put the case on hold during the appeal, saying there are multiple other pending court cases that could be affected, depending on the appeal’s outcome. The SEC is currently in a legal battle with a number of crypto firms, including Binance and Coinbase, over alleged securities violations. Judge Torres ruled, in July, that Ripple’s native token, XRP, is not a security when sold to retail investors. Torres plans to schedule the jury trial for the second quarter of 2024.
PayPal launches PYUSD stablecoin for payment
PayPal launched a new U.S. dollar-pegged stablecoin called PayPal USD (PYUSD). Built on the Ethereum network, the stablecoin is backed by U.S. dollar deposits, short-term treasuries and similar cash equivalents. According to PayPal, the stablecoin will soon be available as a mode of payment for various purchases. The fintech company is home to over 350 million active users, putting it in a strong position to become a crypto payment giant with the introduction of the new stablecoin. PYUSD will be redeemable for U.S. dollars and can be exchanged for other cryptocurrencies on PayPal, as well as being transferable between PayPal and Venmo accounts.
Temasek, Sequoia Capital, Softbank, leading VCs face lawsuit for “abetting” FTX fraud
Eighteen leading venture capital investment firms, including Temasek, Sequoia Capital, Sino Global Capital and SoftBank, have been named as defendants in a class-action lawsuit filed in the United States for their links to the now-bankrupt crypto exchange, FTX. According to the lawsuit, the investment firms were responsible for “aiding and abetting” the FTX fraud. The suit further claims that the defendants used their “power, influence and deep pockets to launch FTX’s house of cards to its multibillion-dollar scale.”
SBF ordered to jail, Bitcoin ETF delayed and SEC to appeal Ripple case: Hodler’s Digest, Aug. 6-12
Top Stories This Week
Judge revokes Sam Bankman-Fried’s bail, remands him to custody
FTX’s former CEO, Sam “SBF” Bankman-Fried, had his bail revoked by a federal judge in response to the release of information to The New York Times allegedly intended to intimidate witnesses. During a hearing on Aug. 11, Judge Lewis Kaplan revoked Bankman-Fried’s bail and remanded him to custody, likely at the Putnam County Correctional Facility. Once his October trial begins, he could be moved to the Metropolitan Detention Center in Brooklyn. Bankman-Fried was reportedly led out of the courtroom in handcuffs. In Kaplan’s view, Bankman-Fried’s interviews with NYT reporters resulted in sharing information with the likely intention “to hurt and frighten” former Alameda Research CEO Caroline Ellison, his former colleague and girlfriend.
The U.S. Securities and Exchange Commission (SEC) has delayed a decision on whether to approve or disapprove the spot Bitcoin exchange-traded fund (ETF) proposed by ARK Investment Management and 21Shares. ARK originally filed to list the ETF in May, giving the SEC a maximum of 240 days — until January 2024 — to reach a final decision. The SEC’s latest move is fueling expectations that a final verdict will come as part of a batch that includes applications from key players on Wall Street, including BlackRock and Fidelity Investments.
SEC to seek appeal and stay in Ripple Labs court case
The U.S. SEC is moving to appeal a court decision from its lawsuit against Ripple Labs. In a letter to Judge Analisa Torres — the presiding judge in the case — the SEC said it believed her decision warrants a fresh look by an appellate court. The commission asked Judge Torres to put the case on hold during the appeal, saying there are multiple other pending court cases that could be affected, depending on the appeal’s outcome. The SEC is currently in a legal battle with a number of crypto firms, including Binance and Coinbase, over alleged securities violations. Judge Torres ruled, in July, that Ripple’s native token, XRP, is not a security when sold to retail investors. Torres plans to schedule the jury trial for the second quarter of 2024.
PayPal launches PYUSD stablecoin for payment
PayPal launched a new U.S. dollar-pegged stablecoin called PayPal USD (PYUSD). Built on the Ethereum network, the stablecoin is backed by U.S. dollar deposits, short-term treasuries and similar cash equivalents. According to PayPal, the stablecoin will soon be available as a mode of payment for various purchases. The fintech company is home to over 350 million active users, putting it in a strong position to become a crypto payment giant with the introduction of the new stablecoin. PYUSD will be redeemable for U.S. dollars and can be exchanged for other cryptocurrencies on PayPal, as well as being transferable between PayPal and Venmo accounts.
Temasek, Sequoia Capital, Softbank, leading VCs face lawsuit for “abetting” FTX fraud
Eighteen leading venture capital investment firms, including Temasek, Sequoia Capital, Sino Global Capital and SoftBank, have been named as defendants in a class-action lawsuit filed in the United States for their links to the now-bankrupt crypto exchange, FTX. According to the lawsuit, the investment firms were responsible for “aiding and abetting” the FTX fraud. The suit further claims that the defendants used their “power, influence and deep pockets to launch FTX’s house of cards to its multibillion-dollar scale.”
SBF ordered to jail, Bitcoin ETF delayed and SEC to appeal Ripple case: Hodler’s Digest, Aug. 6-12
Sam Bankman-Fried has bail revoked, ordered to jail; the SEC delays decision on a spot Bitcoin ETF; and the SEC moves to appeal on Ripple’s case.