Last week, NFT marketplace OpenSea parted ways with a top executive who was discovered using inside information to personally profit from trading non-fungible token collections on the site. But the platform's CEO tells Decrypt that the debate that erupted around...
Decrypt News
Gary Gensler: Cryptocurrencies Are ‘Highly Speculative’ Asset Class
Gary Gensler, chair of the U.S. Securities and Exchange Commission (SEC), today described cryptocurrencies as "an asset class that's highly speculative" and that in many cases, "there is not something standing behind it other than what somebody else will pay for it."...
U.S. Sanctions Russian Bitcoin Exchange Over $160M in Ransomware Transactions
Russian cryptocurrency exchange Suex has been sanctioned by the United States Treasury for allegedly facilitating transactions for ransomware attackers—estimated at more than $160 million worth of Bitcoin. Today's move makes Suex the first crypto exchange to be...
Audius Review: Testing The Crypto-Powered Music Streaming Service
Audius is a San Francisco-based startup offering a decentralized blockchain-powered digital streaming network, with the aim of connecting artists directly to fans. Following its mainnet launch in 2020, the service has reached more than 6 million unique users. The...
Overly-Stringent Crypto Regulations ‘Preclude’ Banks From Crypto: Financial Trade Groups
Trade groups representing banks, asset managers, and the blockchain industry have collectively urged the Basel Committee on Banking Supervision to steer clear of overly cumbersome regulations that risk stifling innovation in the crypto industry. According to the...
Coinbase Leads $8.5M Raise in Crypto Project Bringing DeFi to Bitcoin
Portal, a decentralized finance (DeFi) project that’s looking to build out a DeFi ecosystem on the Bitcoin blockchain, today announced that it has raised $8.5 million via a funding round led by Coinbase Ventures. DeFi, or decentralized finance, is the collective name...
Avalanche DeFi Platform Vee Finance Suffers $35M Hack
Decentralized finance (DeFi) platform Vee Finance has reported it was exploited for a total of 8804.7 Ethereum (around $26.2 million) and 213.93 Bitcoin (around $9 million), temporarily suspending services. Vee Finance is a lending and borrowing protocol built on the...
Over $1 Billion in Crypto Futures Liquidated Amid Evergrande Concerns
A total of $1.2 billion worth of crypto futures got liquidated over the last 24 hours as global markets continue to slide across the board, according to analytics platform Bybt. At the time of writing, the vast majority of top cryptocurrencies remain in the red zone....
Bitclout Founder Reveals DeSo, a $200M Blockchain to Take on Facebook
A mysterious figure known as "Diamondhands" jolted the tech and crypto worlds this spring by rolling out Bitclout, a new type of social network that includes tokens whose value is determined by a user's popularity. The site attracted a flurry of media attention—and no...
Third of U.S. Swing State Voters Favor Crypto as Payment: Newsweek
Approximately one third of voters living in swing states in the United States are in favor of cryptocurrencies as a form of payment in their state, according to a Newsweek poll. The poll, which was conducted by Redfield and Wilton Strategies, found that between 28%...