Author: Mayowa Adenle

Article written by Mayowa Adenle

SushiSwap CEO Proposes New Token Economics to Overcome Liquidity Shortage

January 1, 2023 1 min read

SushiSwap CEO Jared Grey has proposed changes to the token economics of the SUSHI token in an effort to address the liquidity crunch facing the protocol. On December 6, Grey announced that the project’s treasury had a runway of just 1.5 years, leading to a proposal that 100% of fees earned by SushiSwap be redirected to Kanpai, the project’s treasury, for one year or until new token economics are introduced.

Midas Investments Shutters Operations due to $63M DeFi Portfolio Deficit

December 29, 2022 1 min read

Midas, a custodial investment platform, has announced that it will close down operations due to a $63.3 million deficit in its decentralized finance (DeFi) portfolio. The company’s DeFi portfolio lost $50 million, or 20% of its $250 million assets under management (AUM), and user withdrawals of more than 60% following the collapses of Terra, FTX and Celsius made it impossible for Midas to sustain its fixed yield model. Midas’s total

NFT Artist Files Counterclaim in Yuga Labs Lawsuit

December 28, 2022 1 min read

Yuga Labs, the creators of the popular Bored Ape Yacht Club (BAYC) non-fungible tokens (NFTs), are facing a counterclaim in an ongoing lawsuit against artist Ryder Ripps and the founder of NFT marketplace Not Larva Labs, Jeremy Cahen. Yuga Labs had accused Ripps and Cahen of copying their NFT collection and devaluing the original BAYC products, but the pair have denied many of the allegations, claiming that their version of

Active Alameda Research Wallets Spark Foul Play Suspicions After SBF Bail

December 28, 2022 1 min read

Alameda Research, a trading firm and sister company of FTX, transferred funds from its crypto wallets shortly after the release of its former CEO, Sam Bankman Fried, on a $250 million bond. The way in which the funds were transferred raised concerns among the community, as the Alameda wallet was found to be exchanging small amounts of ERC20s for ETH/USDT and then funneling the Ether and USDT through instant exchangers

French Investors Sue Binance for Alleged Misleading Practices and Fraudulent Concealment

December 26, 2022 1 min read

Binance France and its parent company, Binance Holdings Limited, are being sued by 15 investors in France over allegations of misleading commercial practices and fraudulent concealment. The plaintiffs claim that Binance violated French laws by advertising and distributing crypto services before being registered with the country’s authorities. The complaint includes screenshots of Binance’s social media activity prior to its registration, including a Telegram channel called “Binance French,” and the plaintiffs

Uniswap claims users can now purchase cryptocurrencies on its platform using credit or debit cards and bank transfers

December 23, 2022 1 min read

Decentralized exchange Uniswap has announced that its users can now purchase cryptocurrencies on its platform using credit or debit cards and bank transfers. The platform is collaborating with fintech company MoonPay to offer these payment options in over 160 countries. However, the availability of these options varies depending on the user’s location. Bank transfers, for example, are only available for users in certain regions such as the US, Brazil, SEPA,

BlockFi requests permission from a U.S. court to allow some clients to withdraw crypto from their locked digital wallets

December 21, 2022 1 min read

BlockFi, a cryptocurrency company that filed for Chapter 11 bankruptcy protection along with eight affiliates on November 10, has requested permission from a U.S. court to allow some clients to withdraw cryptocurrencies from their locked digital wallets. The company has also made a similar request to the Supreme Court of Bermuda on behalf of its non-U.S. counterpart, BlockFi International. In its initial bankruptcy filing, BlockFi stated that it has assets

Police officer video cam reveals the security code of a crypto user

December 20, 2022 1 min read

A viral video on Twitter showed two police officers searching a suspect’s car and finding pieces of paper with the suspect’s handwritten seed phrase, a series of words used to secure cryptocurrency. The incident, which was recorded on one of the officer’s body cameras, made the seed phrase public information and sparked discussions about the best ways to store seed phrases. Some have suggested memorizing the seed phrase, but Binance

Former President Donald Trump now sells NFTs as side hustle

December 16, 2022 1 min read

Former President Donald Trump has announced the launch of his own NFTs (non-fungible tokens), which he calls “digital trading cards,” on a website called CollectTrumpCards.com. The cards, which cost $99 each, feature Trump depicted as a superhero with laser eyes, an astronaut, a cowboy, a golfer, and a businessman surrounded by gold bars. Trump has promised that buyers will join a “very exclusive community” and be eligible to win prizes,

BitGo CEO reports that Alameda had attempted to redeem 3,000 wBTC just before declaring bankruptcy

December 15, 2022 1 min read

BitGo CEO Mike Belshe has confirmed that Alameda Research attempted to redeem 3,000 wrapped Bitcoin (wBTC) just days before the firm filed for bankruptcy. Belshe revealed that BitGo rejected the redemption request because the Alameda representative involved in the transaction failed the security verification process and seemed unfamiliar with the wrapped Bitcoin burning process. The attempt to redeem the wBTC was also confirmed on the Ethereum transaction aggregator Etherscan. It

Algorand blockchain to provide support to the Italian platform for bank and insurance guarantees

December 14, 2022 1 min read

Algorand, a layer-1 blockchain platform, is collaborating with the Research Center on Technologies, Innovation, and Finance from the Catholic University of Milan to create an innovative digital guarantees platform. This platform is the first of its kind to be used in the banking and insurance sectors within an EU member state and is expected to launch in early 2023. Through its fast, efficient, low-cost and scalable data transactions, as well

Ethereum co-founder Vitalik Buterin believes AI is “quite far” from replacing human programmers

December 7, 2022 1 min read

According to the Ethereum founder, he tested ChatGPT, an OpenAI AI chatbot, to see if it could write useful code. Since OpenAI made the bot available for free, many developers have been investigating its capabilities and determining how much trust can be placed in it. Buterin claimed in a blog post that the new chatbot could be a “programming aid,” but when asked for code snippets, the bot made mistakes.