Mycelium, a Web3 ecosystem comprised of many products, recently revealed that price feed problems had caused losses in one of its liquidity pools. Additionally, the IP address of the protocol was blacklisted by the Binance API component. Team members from Mycelium issued a statement on January 7th, 2023, saying that
Moody’s downgrade and Ark Invest selling off of Silvergate Bank’s shares indicate deteriorating conditions at the financial institution. There was a run on the bank and it has been linked to the FTX crash. Ark Invest, Cathie Wood’s investment vehicle, reportedly sold more than 400,000 shares of parent firm Silvergate
Digital Currency Group (DCG), Genesis Global’s parent business, has chosen to shut down its wealth section hours after word of the layoffs spread. Genesis has been experiencing significant liquidity difficulty since the FTX crash, and this is the latest hint of concern. A spokesman for Digital Currency Group (DCG) stated
The founder of the cryptocurrency-focused firm Celsius Network, Alex Mashinsky, was named in a civil lawsuit. Brought by the state of New York’s attorney general on Thursday. The lawsuit accuses Mashinsky of planning to swindle hundreds of investors. By persuading them to deposit billions of dollars’ worth of digital assets
SushiSwap, a decentralized finance (DeFi) platform built on Ethereum, has decided to disable both its lending mechanism, Kashi, and its token launchpad, Miso. In contrast to centralized exchanges like Coinbase, SushiSwap was founded in 2020 and enables clients to swap, lend, and borrow cryptocurrencies. Using their own external wallets like
Cameron Winklevoss, co-founder of Gemini, expressed frustration in an open letter to Barry Silbert, CEO of Digital Currency Group (DCG), about the company’s slow response in regards to stopping Genesis withdrawals. About 340,000 Earn customers are still waiting for withdrawals to be restored, and he addressed their plight. Collectively, the
Total value locked (TVL) for Lido Finance, one of several decentralized finance (DeFi) protocols, has risen to the top since the Ethereum merging in September. DeFiLlama reports that as of right now, Lido’s liquid staking protocol has a total market cap of $5.96 billion in TVL, which is more than
As a result of the ongoing liquidity situation at Genesis Global, which is a cryptocurrency lender, Gemini Trust Co. has become a scapegoat. Investors have filed a lawsuit against Gemini’s co-founders Tyler and Cameron Winklevoss. Alleging that they were offered interest-bearing accounts by the cryptocurrency exchange that were not properly
The Decentralized applications (DApps) services brought over by Decentralized Finance (DeFi) through means of smart contract consensus, exhibits the complete evolution of the Fantom services. The Fantom platform is indeed one of the most sophisticated, and efficient platforms for outgrowing all sorts of smart contracts, and DeFi services, from the
The cryptocurrency market plummeted in real time along with the World’s economy. Although many sequential backlashes led to this downfall, this article focuses on a few that caused massive disruption. 2022 is a year of crypto adoption and unanticipated mass crypto tax regulations. Countries like Australia, Canada, Denmark, France, Germany,
