DeFi

YC W22's Stablegains Is Down 92% and Getting Sued

Stablegains promised investors 15% gains, but its fund is down 92% and getting sued for allegedly misrepresenting how it used investor funds.

DeFi

A Hacked Crypto Ad Firm Compromises CoinGecko, Etherscan

Coinzilla, a popular crypto ad delivery network, was compromised and delivered a phishing popup on Etherscan and CoinGecko.

DeFi

Terra's UST Stablecoin Depegs, Crashing Entire Crypto Market

Once considered a blue chip algo stablecoin, the $50B Terra ecosystem collapsed in less than a week, crashing Bitcoin and the crypto market.

DeFi

Will Tether's USDT be the Next Stablecoin to Collapse?

Tether’s USDT stablecoin is losing market cap. Tether could collapse in a major market downturn because it holds non-cash assets in its treasury.

DeFi

NEAR Protocol Bridge Takes 2.5 ETH from Its Attacker

Rainbow Bridge, a crypto protocol linking Ethereum to NEAR Protocol, thwarted an attack and profited in the process.

DeFi

This is the 7th Solana Outage

An NFT mint has caused the 7th Solana Outage that the blockchain has suffered, the 5th this year.

DeFi

Edward Snowden was the Unknown 6th Person Who Launched ZCash

ZCash announced that Edward Snowden was the psuedo-anonymous 6th person who launched ZCash, John Dobbertin.

DeFi

Terra’s UST Stablecoin is now the #3 Stablecoin in Crypto

Terra (LUNA) stablecoin, UST, just passed Binance USD (BUSD) to become the third most valuable stablecoin, and the most valuable algorithmic stablecoin.

DeFi

Justin Sun’s Tron Protocol Will Launch Its USDD Stablecoin with 30% APY

Justin Sun recently announced that his blockchain, Tron, will be launching its own algorithmic stablecoin, USDD, with a 30% annual yield.

Axie Infinity (AXS)

North Korea Diversifies Into Ethereum Via Record Crypto Hack

The FBI has tied the recent Axie Infinity Ronin sidechain hack to the North Korean hacking group Lazarus.

USDC

BlackRock Will Manage USDC's $50B Reserves Following $400M Raise

Circle announced a $400M funding round and that BlackRock will manage USDC's cash reserves.

Maker DAO

MakerDAO is Diversifying Into the Real World by Issuing Loans to Tesla

MakerDAO just made a $7.8M loan to Tesla as part of their efforts to back up their stablecoin with real world assets.

Near Protocol (NEAR)

Crypto VC: NEAR Protocol Will Launch Its USN Stablecoin with 20% APY

NEAR Protocol will launch its own native algorithmic stablecoin, called USN. Crypto VC Zoran Kole says USN will launch with staking yields around 20%.

Terra (LUNA)

Stablecoin Wars: Terra LUNA is Trying to Depeg Maker DAO's DAI Stablecoin

Terra is at war with Maker DAO and its DAI stablecoin. Terra is starting a new Curve war with Maker DAO, and it partnered with serious Convex whales to choke out DAI's liquidity.

LayerZero

LayerZero and Stargate are Building a New Cross-Chain Economy

LayerZero is a blockchain interoperability protocol that allows cross-chain transfers and swaps, where both assets are on their native blockchains.

Company Highlight

Grayscale Launched an Altcoin Investment Trust

Grayscale, the largest digital asset management firm in the world, launched a new smart contract alt coin fund.

Ethereum (ETH)

Lead Ethereum Developer Warns Protocol Complexity is Out of Control

Lead core Ethereum developer Péter Szilágyi warns that Ethereum's complexity has gotten out of hand, and "if the protocol doesn't get slimmer, it's not going to make it."

Coinbase

Coinbase Faces Class Action Lawsuit for Allegedly Selling Unregistered Securities

Coinbase faces a class action lawsuit for allegedly selling 79 unregistered securities to US customers.

DeFi

Ethereum 2, AKA “The Merge,” Succeeds in Testnet

After years of development, the Ethereum 2 Proof of Stake ("The Merge") change was successfully completed in a testnet.

Tether (USDT)

Hedge Fund Shorts Stablecoin Tether (USDT)

Hedge fund Fir Tree Capital Management took a large short position against Tether. If its bet pays off, the hedge fund is expecting to see returns within 12 months.

Avalanche (AVAX)

Best DeFi Projects on Avalanche: Where to Stake and Yield Farm AVAX and Stablecoins in 2022

Here's where to find the best rates on staking and yield farming AVAX and stablecoins in the Avalanche network DeFi ecosystem.

DeFi

Cronje Quits Crypto, Abandons Fantom, Yearn Finance

Andre Cronje quits Fantom, DeFi, and Cryptocurrency as a whole alongside his partner Anton Nell. The pair are shutting down ~25 of their apps and services.

Terra (LUNA)

Why Did Terra (LUNA) Go Up So Much in the Last Month?

Terra's LUNA token is up over 60% in the last month following a $1B token sale and Anchor Protocol's recovery.

DeFi

Where to Farm Stablecoins? Our Top 5 Projects for 2022

We highlight the top 5 projects for farming stablecoins in 2022.

Composable Finance Allegedly Run By Convicted Fraudster Omar Zaki

Polkadot (DOT)

Composable Finance Allegedly Run By Fraudster Omar Zaki

Composable Finance's head of product, 0xbrainjar, is alleged to be fraudster Omar Zaki. In 2019, the SEC accused Zaki of "misleading investors in financing an unregistered hedge fund."