In a now-deleted deleted profile, an anonymous Reddit user allegedly lost close to $500k on Sunday after sending wrapped Ether (wETH) directly into a wETH wrapping smart contract. wETH came into existence as a way for Ether (ETH) to conform to the ERC-20 token standard so that it can be traded directly with altcoins minted on the Ethereum blockchain.To wrap Ether, users first … [Read more...] about Blockchain enthusiast allegedly losses $500k by sending WETH to contract address
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The US Treasury’s Stablecoin Report Would Treat Issuers Like Banks, but Doesn’t Address How
“There are other, safer ways of achieving the same objectives. For example, we could require 100% of stablecoin reserves to be maintained off-balance sheet, or require stablecoin reserves to be maintained at a Federal Reserve Bank, which is, by definition, risk-free. We already have a case study in this – Wyoming’s special purpose depository institutions are already doing … [Read more...] about The US Treasury’s Stablecoin Report Would Treat Issuers Like Banks, but Doesn’t Address How
Bitcoin’s Address Growth Plateaus as BTC loses $30k Support
The growth of Bitcoin addresses has hit a plateau phase Bitcoin’s daily active addresses have also dropped from April’s peak of 1.366 million There are currently 845k daily active Bitcoin addresses, a drop by 38% from the aforementioned peak Bitcoin has lost the crucial $30k support to post a local low of $29,278 A loss of the $28k support will open the door to more losses to … [Read more...] about Bitcoin’s Address Growth Plateaus as BTC loses $30k Support
Alchemix patches ‘Reverse Rug’ exploit, address $6.5 million shortfall
It’s as miraculous as Aladdin taking off on a magic carpet: in a possible first, some of the users of a decentralized finance protocol were the ones to benefit today from an exploit, turning the concept of a ‘rugpull’ on its head. A colloquialism for when liquidity is drained from a project (often an unscrupulous founder or developer draining the funds themselves), depositors … [Read more...] about Alchemix patches ‘Reverse Rug’ exploit, address $6.5 million shortfall
Will Gary Gensler address the Ripple (XRP) lawsuit at the SEC meeting this week?
XRP investors, the token issued by payments firm Ripple, are optimistic that a closed Securities and Exchange Commission (SEC) meeting this week will see a withdrawal of the lawsuit against the firm.It’s the first meeting led by newly appointed “crypto-friendly” chairman Gary Gensler, who’s three weeks into the job at this point. While it’s likely non-crypto business will … [Read more...] about Will Gary Gensler address the Ripple (XRP) lawsuit at the SEC meeting this week?