FTX is seeking the cancellation of agreements made days before it collapsed, as well as the return of millions transferred to LayerZero Labs and its affiliates. Bankrupt crypto exchange FTX has filed a lawsuit against cross-chain protocol LayerZero Labs, seeking to recover $21 million in funds that were allegedly illegally withdrawn prior to FTX’s shutdown in November….
Blockchains need to become interoperable in order for the industry to truly flourish and several innovations will accelerate the ecosystem towards it, say executives. The future of blockchain will be an interoperable one — with the death of “chain tribalism,” the proliferation of “hundreds of chains” along with an end to cross-chain bridge hacks, according…
The upcoming framework will affect users in several countries by automatically exchanging information about crypto transactions between jurisdictions on an annual basis. Leaders of the 20 biggest economies in the world — collectively known as G20 — are pushing for a speedy implementation of a cross-border framework for crypto assets. According to local reports in…
Following the breach of Ethereum co-founder Vitalik Buterin’s X (formerly Twitter) account, victims allegedly suffered losses exceeding $691,000 due to a malicious link that falsely promoted a free NFT. Vitalik Buterin, co-founder of Ethereum has allegedly had his X (formerly Twitter) account compromised. According to prominent blockchain investigator ZachXBT, the incident has led to victims collectively…
Binance CEO Changpeng Zhao says DeFi will outpace CeFi in the next bull run, but the Bank for International Settlements is skeptical. Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week. The past week in the DeFi ecosystem…
Michael Barr expressed “strong concern” about stablecoins and appreciation of legislative efforts to address them at the Philadelphia Fed’s fintech event. The Federal Reserve Bank vice chairman spoke at the Philadelphia Fed’s fintech event on Sept. 8 about what the central bank’s role is in financial innovation. Research and supervision was the short answer, with…
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