News

Binance has addressed reports that it is facing a probe from the US Department of Justice for money laundering. On Monday, the platform took to Twitter to announce to users via its official account that the rumors were untrue. Alleged Charges Over Money Laundering Speculations of a run-in with the law emerged after a publication alleged that Binance was in the middle of a criminal investigation. The release claimed that the authorities were looking into the firm due to suspicions…

The Defi Yield Protocol (DYP) platform has rebranded to “Dypius” to reflect its expanded product suite beyond decentralized finance.  The team is now working on developing the Dypius metaverse, which will enable special features for owners of the company’s native NFT collection.  As revealed in a press release shared with CryptoAdventure, the metaverse will feature play-to-earn game letting players use their Cats and Watches Society (CAWS) NFTs as companions. Those NFTs can allow users to check their crypto portfolios in-game. …

A lending protocol in the Arbitrum ecosystem, Lodestar Finance has fallen victim to a flash loan attack. On December 10, a malicious actor was able to cart off about $5.8M in loot from the platform. Lodestar has since posted a Twitter thread explaining how the culprit was able to do so. Hacker Tweaks Exchange Rate, Withdraws Liquidity Per the post, the attacker’s approach was to manipulate the swap rate of the network’s plvGLP contract. The culprit set the rate at…

Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The Crypto Market ends the week at a total market capitalization of $790 billion. Bitcoin climbs above and retains the $17,000 level. Ethereum gained only 1% over the past seven days. XRP decreased by nearly 1% this past week. Almost all altcoins are trading in the red, with few exceptions The DeFi sector maintains the total value protocols (TVL) at around $41 billion. Crypto Trends 5-11…

Mike McAffrey – CEO of The Block – has accepted millions of dollars in undisclosed funding from disgraced FTX boss Sam Bankman-Fried. The former billionaire’s aid was split across three loans – each for $12 million, $15 million, and $16 million. The first loan, received in April 2021 through a holding company MJMCCAFFREY, was used by McAffrey to lead a buyout and restructuring of the crypto media site.  The next was accepted in January 2022 by another LLC, “Lonely Road,”…

FTX founder and CEO Sam Bankman-Fried has not lost hope in the troubled firm’s chances of resurgence. The troubled founder revealed in his reply to a recent tweet that he thinks reopening the exchange could set the platform back on track. Also today, SBF continued his well-documented spat with Binance founder Changpeng Zhao. Neuner Shares Plans to Restore FTX, Bankman Fried Agrees It began on Friday morning when CNBC crypto trader Ran Neuner shared a potential course of action for…

Blockchain as an innovation is inappropriately being conflated with the “giant con” that is crypto, according to CNBC’s Jim Cramer on Thursday. The Mad Money Host suggested that multiple top cryptocurrencies are being artificially propped up in value. Among them are Solana, XRP, and Dogecoin.  Cramer’s Latest Take Speaking with CNBC’s Rebecca Quick, Cramer asserted that blockchain technology is worth separating from the drama surrounding FTX’s collapse. He added that Kevin O’Leary – a paid spokesperson of $15 million for…

Cory Klippsten – CEO of Swan Bitcoin – is unhappy with Consensus Magazine’s apparent failure to give Bitcoiners the credit they deserve. Klippsten confronted the magazine’s chief, Ben Schiller, in a Twitter Spaces on Wednesday, curious as to why no Bitcoin-focused developers or influencers had been mentioned in CoinDesk’s Most Influential 2022. When asked to name a Bitcoiner that he thinks “matters” Schiller struggled to produce an answer.  The CoinDesk Controversy CoinDesk’s Most Influential 2022 was a list of 50…

A Dec 7 release from local news outlet Interfax has unveiled the Bank of Russia’s awaited stance on the crypto mining industry. Amid the country's fresh spotlight on crypto, Russia is imposing new measures on native miners. Russia’s Crypto Mining Bill Per the report, the Russian central bank is not opposed to giving the legal green light to crypto miners. However, the institution believes miners should not be able to sell digital tokens to Russian residents. Instead, miners should trade…