The Wonderland protocol became the talk of the decentralized finance (DeFi) world after the platform was found at the center of a brewing controversy. On Jan. 27, DeFi analyst zachxbt revealed that one of the anonymous co-founders of Wonderland happened to be QuadrigaCX co-founder Michael Patryn, who has been operating under the name of Sifu.QuadrigaCX is a defunct crypto … [Read more...] about Wonderland’s treasury saga exposes the fragility of DAO projects today
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US Treasury targets NFTs for potential high-value art money laundering
The U.S. Department of the Treasury released a study on the high-value art market, highlighting the potential in the nonfungible tokens (NFT) space to conduct illicit money laundering or terror financing operations.The treasury’s “Study of the facilitation of money laundering and terror finance through the trade in works of art” suggested that the increasing use of art as an … [Read more...] about US Treasury targets NFTs for potential high-value art money laundering
Scandal at Wonderland (TIME) as Treasury Head uncovered as QuadrigaCX co-founder
DeFi protocol Wonderland feels the heat after it was revealed its Treasury Head, also known as Sifu or 0xSifu, is Michael Patryn.Patryn co-founded Canadian exchange QuadrigaCX, which went bankrupt in 2019 amid suspicious circumstances, including the death of its CEO, Gerald Cotten.The QuadrigaCX connection has spooked Wonderland investors, triggering a 45% drop on Tuesday as … [Read more...] about Scandal at Wonderland (TIME) as Treasury Head uncovered as QuadrigaCX co-founder
UK Treasury wants to remove blockchain reference from crypto definition
The United Kingdom is actively looking to regulate the crypto market and has proposed many new policies to bring various crypto markets under the rule of law. However, among the various newly proposed suggestions, what turned many heads is the request to remove blockchain and Distributed Ledger Technology (DLT) references from the definition of crypto assets.BRITAIN SETS OUT … [Read more...] about UK Treasury wants to remove blockchain reference from crypto definition
Rio De Janeiro to Allocate 1% of Treasury Reserves to Crypto: Report
According to Pedro Paulo, Rio de Janeiro's finance secretary, the city plans to apply discounts to tax payments made with bitcoin. "You take the single quota discount of 7%, it would make 10% if you pay in bitcoin," Paulo said, adding that the administration needs to study the legal framework. Source link … [Read more...] about Rio De Janeiro to Allocate 1% of Treasury Reserves to Crypto: Report