Month: September 2021

Compound CEO Threatens to Report People Who Profited Off Of $70 Million Bug to IRS

Compound CEO Robert Leshner appeared in hot water after threatening to report users who received an incorrect amount of COMP tokens to the Internal Revenue Service (IRS). Leshner claims that whoever profited off the error can keep a 10 percent share of the sum, but the rest has to be returned. If you received a

New Digital Fashion DAO Rules Dolce & Gabbana’s $5.7M NFT Sale

Luxury fashion has arrived in the metaverse, and there’s already a new, super-connected, digital fashion DAO—called Red DAO—dominating the space. Italian fashion brand Dolce & Gabbana completed its first-ever NFT collectibles auction today via the UNXD marketplace, called Collezione Genesi, and the offering pulled in more than 1,885 ETH—nearly $5.7 million worth, as of this

Coinbase Lists Ethereum Rival Avalanche, Price Gets a Modest Bump

Avalanche is now available to trade on Coinbase and its Android and iOS mobile apps. Users can from today trade, send, receive and store AVAX on the standard Coinbase platform, according to an announcement from the exchange. Avalanche (listed as AVAX) was already available on Coinbase Pro as of yesterday, the exchange’s “professional” trading platform.

Compound May Decline Following Smart Contract Bug

Compound launched a new upgrade this week, but a bug in the code left $80 million worth of COMP at risk of unfair distribution. The incident may lead to a COMP selloff. $80 Million at Risk Compound looks bearish. The Ethereum-based DeFi blue chip launched Proposal 62 Wednesday, introducing two COMP distribution rates for protocol

Fed Won’t Ban Bitcoin Like China, Says Jerome Powell

Federal Reserve Chair Jerome Powell today told Congress he has “no intention to ban” cryptocurrencies as China has done. Powell’s response came after questioning from Rep. Ted Budd (R-NC) during a hearing of the House Committee on Financial Services on the response of the Treasury Department and Federal Reserve to the COVID pandemic. “Is it

Meet the Czech Aristocrat Family Turning to NFTs to Protect a 700-Year-Old Art Collection

A connection between Nazis and NFTs isn’t obvious—but one exists as a result of the Nazis’ habit of being meticulous record keepers. As they swept through Europe, killing millions and claiming property as the Fuhrer’s prize, they issued receipts for whatever they stole. And when the Communists led a coup in Czechoslovakia in 1948, they

TikTok to Release Ethereum NFTs With Lil Nas X, Gary Vee, Grimes

Social video sharing network TikTok, which now counts more than one billion global monthly active users, will release a series of NFT collectibles with celebrity partners like Lil Nas X and Gary Vaynerchuk, the firm announced today. TikTok will tap some of its top creators to issue six NFTs based on existing, “culturally significant” videos

U.S. Fed Won't Ban Crypto, Says Chair Jerome Powell

U.S. Federal Reserve Chairman Jerome Powell has made it clear that there are no plans for a China-style crackdown on cryptocurrencies during a Thursday hearing held by the House Committee on Financial Services. When asked by conservative Rep. Ted Budd of North Carolina about whether or not the Fed is looking to ban or restrict

NFT Service JPEG’d Launches CryptoPunks Lending and Chainlink Integration

From today, NFT lending service JPEG’d will enable owners to borrow against one of the most recognizable non-fungible tokens, CryptoPunks. The service will use decentralized oracle provider Chainlink for its data feed. Non-fungible tokens, or NFTs, are cryptographically unique digital assets that can be linked to content such as images or video. In the case

Visa Is Building a Hub for Cross-Chain Crypto Payments

Visa is launching a universal crypto payments hub, allowing for the interoperability of digital assets across different blockchain networks and payment channels. Visa Plans For More Crypto Integration Financial services behemoth Visa is looking to revolutionize digital payments. In a Thursday blog post, the company announced that it had released a research paper outlining a

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