The Near Foundation, an organization behind the NEAR blockchain, urged the winding down of the USN stablecoin and announced a $40 million fund for a “USN Protection Programme.” The foundation is setting aside the funds, which it says is equal to the amount of a “collateral gap” associated with the undercollateralization of the USN project….

Crypto-staking platform Freeway, which touted up to 43% annual rewards, halted withdrawals and deposits on its platform on Oct. 23, citing market volatility. The platform also deleted its team details, which allegedly hints at a rug pull, according to FatManTerra. As a result, the platform’s native token FWT was down more than 70% over the…

MakerDAO, the issuer of DAI stablecoin, is reportedly moving forward with a proposal to onboard an account to Coinbase prime and transfer about $1.1 billion (33% of its USDC) into custody. The platform could earn around 15 million USDC in annual revenue by moving assets to Coinbase, MakerDAO says. Porter Smith, an a16z deal partner,…

Breaking crypto news from the last week (Oct. 15 – 21, 2022): Oct. 15: TRON founder Justin Sun announced a merger between the TRON network and the Heco Chain. In his words, the TRON and BitTorrent chain network will merge with developers from Heco. Sun made this announcement a day after revealing his Huobi tokens…

Top investment deals across the crypto sector over the last week (Oct. 15–21, 2022): BofA survey: Younger investors are 7.5 times more likely to hold crypto in their portfolios Bank of America’s survey of wealthy Americans revealed that younger wealthy Americans are 7.5 times more likely to hold crypto in their portfolios than investors aged…

OpenSea revises its NFT rarity ranking protocol OpenRarity, launched on Sept. 21, after community controversial feedback. Some community members argued that the new rarity ranking protocol disrupts the market-driven rarity structure for some NFT collections. Meanwhile, CoinShares launch its own experimental AI bot to determine a fair price for some NFTs; however, some users appear…

Top crypto news from the Middle East region over the last week (Oct. 15–21, 2022): GITEX Global was held at the DWTC, UAE GITEX GLOBAL (Gulf Information Technology Exhibition) is one of the biggest and a highly influential technology conferences happening since 1981. GITEX 2022 was a five-day event (October 10th-14th) at the Dubai World…

The DMCC boss is indebted to ‘his father and idol, the Dubai Ruler, for taking a chance with him’ in 2001, when he was 23 years old – a story by Joydeep Sengupta on Khaleej Times. Ahmed bin Sulayem, Executive Chairman and Chief Executive Officer (CEO) of the Dubai Multi Commodities Centre (DMCC), is a…

Gavin Wood, the Polkadot co-founder, is stepping down as the CEO of Parity Technologies, the blockchain development company behind the Polkadot ecosystem. Björn Wagner will now lead Polkadot’s key backer company. Gavin Wood, a crypto developer who exited the Ethereum Foundation in 2015 and became Polkadot’s co-founder, will remain a majority shareholder in Parity Technologies….

The US subsidiary of crypto exchange Binance has hired ex-FBI agent BJ Kang as its first head of investigations, the WSJ reported. BJ Kang is renowned as he led the numerous probes of high-profile Wall Street insider trading cases. Meanwhile, Fidelity Digital Assets expects to add about 100 more people over the next three to…