Crypto news

Amid the ongoing price drawdown, Solana Founder Anatoly Yakovenko has named the most important focus for the blockchain. 🤯

In an exclusive chat with BeInCrypto, Varoufakis warned that this legislation might spark a financial crisis even worse than the one that wrecked the world over a decade ago. Meanwhile, he argues China is playing the long game with its tightly controlled economic approach-could they actually have the better plan here?

Bitnomial, a Chicago-based derivatives exchange and clearinghouse regulated by the Commodity Futures Trading Commission (CFTC), has become the first U.S. registered derivatives clearing organization to accept stablecoins as margin collateral, the company said in a press release Tuesday. Because nothing says “regulation” like letting your margin be backed by a cryptocurrency that’s probably just a meme at this point. 🤡

According to CertiK Alert, the attacker, with the cunning of a fox, managed to borrow over 20 wstETH using a mere 0.02 wrstETH flashloan, exploiting a faulty oracle that spewed false prices of 5.8 million dollars. The profit? A staggering 295 ETH, roughly a million dollars. This swift and repeated borrowing sequence, like a thief in the night, drained Moonwell’s lending markets of their lifeblood.

The Victoria, Seychelles-based exchange cut qualification requirements in half compared to its existing institutional financing programs, according to Bitget’s institutional financing program. The move follows Binance’s June launch of its Altcoin LiquidityBoost Program, which offered fee rebates rather than capital loans to market makers specializing in altcoin pairs. 🤯

According to the sacred scrolls of liquidation data, a staggering $1.34 billion in leveraged positions hath been cast into the void within the past 24 hours. Of this sum, $1.18 billion belonged to the hapless long traders, whose dreams of riches have turned to ashes. Analysts, those soothsayers of the digital realm, proclaim this a massacre not seen since the dark days of mid-September, a testament to the hubris of October’s mad ascent. 📉🔮

The Federal Reserve, in its infinite wisdom, has delivered a 25 basis-point rate cut, bringing its target range to 3.75%-4.00%. Yet, Chair Jerome Powell, with a tone as hawkish as a winter’s frost, warns that further cuts are not guaranteed. How chilling! ❄️

Ah, the theater of decentralized finance! Stream Finance, once a beacon of innovation, now finds itself in a quagmire of its own making. Late Monday, the protocol took to X (formerly Twitter, for those still clinging to nostalgia) to announce its dramatic pause on all user activity. “Protecting user funds,” they say. One wonders if the funds ever felt endangered before this grand gesture. 🛡️

Bitcoin’s drop? Oh, it’s not a drop, it’s a full-blown escape from a haunted house. 17% from its peak? That’s like losing 17% of your gym membership fee. Not great, but not the end of the world… yet. 🏋️♂️