BlockFi and the Official Committee of Unsecured Creditors jointly issued a statement on Aug. 2, 2023, urging all eligible parties to vote to accept the plan by the Sept. 11 voting deadline. The successful approval of the plan will effectively resolve the Chapter 11 cases and facilitate the return of client funds.Continue Reading on Coin Telegraph More
Looking at each component of ESG separately, the report noted that emissions is a more significant indicator of environmental damage than energy usage. It contextualized Bitcoin (BTC) emissions in relation to those of other sources that ranged from tobacco to tourism and found it was the second smallest contributor behind “Video (US).” It concluded:Continue Reading on Coin Telegraph More
According to its quarterly report released on Aug. 2, Robinhood’s revenue from cryptocurrency transactions shrank by 18% to $31 million. Other transaction-based revenues dropped as well, including options, which decreased 5% to $127 million, and equities, which declined 7% to $25 million. Over the past year, its revenue has decreased by 4% from $202 million in June last year to $193 million.Continue Reading on Coin Telegraph More
The ending of rewards was carried out by the Curve emergency decentralized autonomous organization (Curve E-DAO), a committee made up of select members of the Curve DAO governing body. It affected pools for alETH+ETH, msETH-ETH, pETH-ETH, crvCRVETH, Arbitrum Tricrypto and multibtc3CRV, according to the announcement. The decision can be overridden in the future by a full vote of the Curve DAO.Continue Reading on Coin Telegraph More
The new protocol is called the Global Systematically Important Protocol (G-SIP), and it’s based on a similar endeavor instituted in the traditional banking industry.Continue Reading on Coin Telegraph More
While the $62 support has demonstrated its resilience, the current price of $64.40 is still 12% below the daily close on July 30. Investors are now questioning whether this movement signifies a more cautious approach to the sector or if other factors are exerting pressure on the Aave (AAVE) token price.Continue Reading on Coin Telegraph More
In an August 1 announcement, Abracadabra Money proposed adjusting interest rates on collateral-based rates across CRV cauldrons. The proposal suggests charging interest on the cauldron’s collateral before moving into the protocol’s treasury, similar to what the DAO did with Wrapped Bitcoin and Wrapped Ethereum cauldrons. The adjustments will be 30% on a principal of $0M-$5M, 100% on a principal of $5 to $10 million, and 200% on a principal of $10 to $18 million. They will be combined on the collateral ratio of the smart contract to maximize the chances of full principal recovery and maintain protocol integrity.These changes have since garnered mixed reviews on crypto Twitter, with a team member from Frax Finance, Drake Evans highlighting some of the concerns of the announcement by stating the impacts could be “very bad.” That said, the proposal is still eligible for voting for the next 46 hours at the time of writing.As explained in the proposal, the lending platform’s recent involvement with CRV risk due to decentralized finance (defi) exploits requires an adjustment. The impact of hackers stealing between $20 and $40 million from Curve, one of the largest DEXs with $1.69 billion in total value locked (TVL), significantly affected the industry. This raised concerns about defi security, and crypto investors such as Justin Sun stepped in to assist Curve Finance. Michael Egorov, the founder of Curve Finance, received loans totaling almost $100 million through various lending protocols. These loans are secured by 427.5 million CRV tokens, which make up 47% of the total circulating supply of CRV. In addition, Egorov holds 51.65 million CRV tokens as collateral and has 14 million MIM debt positions within the Abracadabra ecosystem.As the election draws near, the community is closely monitoring Abracadabra’s reaction to the recent hacking incident. People are curious about the potential consequences that the financial industry may face due to this event.This article was originally published on Crypto.news More
Bitcoinprice fell nearly 1% to around $29,500 on the day. Still, the move downside was part of a flat market trend that started a week ago, wherein the price has traded inside the $28,850-29,660 range.Continue Reading on Coin Telegraph More
