TL;DR Breakdown Upbit, a South Korean crypto exchange, suspends CRV token trading due to critical security flaws in Curve Finance. Curve Finance experiences substantial volatility and security concerns affecting CRV token stability. Reentrancy vulnerability found in specific Vyper compiler versions responsible for outflows from the platform. Description Upbit, a prominent cryptocurrency exchange based in South Korea, has taken the precautionary measure of suspending trading for the CRV token, which is utilized by Curve Finance, a decentralized finance (DeFi) platform. This decision comes after discovering critical security flaws within the Curve (CRV) stablecoin pools, leading to significant concerns about its stability and safety … Read more Upbit, a prominent cryptocurrency exchange based in South Korea, has taken the precautionary measure of suspending trading for the CRV token, which is utilized by Curve Finance, a decentralized finance (DeFi) platform. This decision comes after discovering critical security flaws within the Curve (CRV) stablecoin pools, leading to significant concerns about its stability and safety for investors. The exchange disclosed that they found several vulnerabilities in Curve Finance, which have resulted in substantial volatility for…

TL;DR Breakdown Coinbase disclosed that the SEC requested the suspension of trading in all cryptocurrencies except Bitcoin before filing a lawsuit against the company. The SEC alleges that Coinbase violated securities laws by allowing unregistered trade in certain digital tokens. Coinbase and the SEC are engaged in legal battles, with Coinbase defending its actions and seeking to dismiss the complaint. Description Coinbase, the largest cryptocurrency exchange in the United States, recently disclosed that the U.S. Securities and Exchange Commission (SEC) had requested the suspension of trading in all cryptocurrencies except bitcoin prior to initiating legal action against the firm. In an interview with the Financial Times, Coinbase CEO Brian Armstrong revealed that the SEC’s request came … Read more Coinbase, the largest cryptocurrency exchange in the United States, recently disclosed that the U.S. Securities and Exchange Commission (SEC) had requested the suspension of trading in all cryptocurrencies except bitcoin prior to initiating legal action against the firm. In an interview with the Financial Times, Coinbase CEO Brian Armstrong revealed that the SEC’s request came before the regulatory body filed a…

TL;DR Breakdown Curve Finance lost $24 million in a DeFi exploit. The hacker returned $5.4 million of the stolen funds. Curve’s total value locked (TVL) dropped 43% after the incident. Description On July 30, Curve Finance, a prominent stablecoin lending protocol, experienced a significant exploit on several stable pools. The exploit was traced back to vulnerabilities in specific versions of the Vyper compiler, a smart contract programming language for the Ethereum Virtual Machine (EVM), Cryptopolitan reported. However, the affected versions were 0.2.15, 0.2.16, and 0.3.0. The … Read more On July 30, Curve Finance, a prominent stablecoin lending protocol, experienced a significant exploit on several stable pools. The exploit was traced back to vulnerabilities in specific versions of the Vyper compiler, a smart contract programming language for the Ethereum Virtual Machine (EVM), Cryptopolitan reported. However, the affected versions were 0.2.15, 0.2.16, and 0.3.0. The exploit mechanism, known as “malfunctioning reentrancy locks,” allowed the attacker to bypass the intended safeguards and drain funds from the targeted contracts. According to Curve Finance CEO Michael Egorov in a Telegram channel, the swap pool…

TL;DR Breakdown Robert Kiyosaki, the Rich Dad Poor Dad author, disapproves of the Wall Street Journal(WSJ), claiming that the U.S. economy is strong. He called WSJ ‘numb nuts’ for not seeing that the United States is broke since the stock market was only going up due to the raised debt ceiling. Kiyosaki reassures his support for gold, silver and bitcoin. Description Robert Kiyosaki, the Rich Dad Poor Dad author, has explained in a Twitter post that he disapproves of Wall Street Journal(WSJ) claims that the U.S. economy was strong. He explained that the stock market is only up due to Joe Biden, the U.S. president, raising the debt ceiling. Kiyosaki continued, calling them ‘numb nuts’ for … Read more Robert Kiyosaki, the Rich Dad Poor Dad author, has explained in a Twitter post that he disapproves of Wall Street Journal(WSJ) claims that the U.S. economy was strong. He explained that the stock market is only up due to Joe Biden, the U.S. president, raising the debt ceiling. Kiyosaki continued, calling them ‘numb nuts’ for not seeing that the United States…

TL;DR Breakdown Ethereum core developer “eric.eth” reported that the exploit of Curve Finance stable pools on July 30 led to a surge in MEV reward blocks, generating significant profits for certain participants. One of the recent MEV reward blocks recorded an astonishing 584.05 ETH, valued at approximately $1 million. Description The recent exploit on Curve Finance has given rise to one of the largest Maximal Extractable Value (MEV) reward blocks ever witnessed in Ethereum‘s history. On July 31, Ethereum core developer “eric.eth” reported that the exploit of Curve Finance stable pools on July 30 led to a surge in MEV reward blocks, generating significant profits … Read more The recent exploit on Curve Finance has given rise to one of the largest Maximal Extractable Value (MEV) reward blocks ever witnessed in Ethereum‘s history. On July 31, Ethereum core developer “eric.eth” reported that the exploit of Curve Finance stable pools on July 30 led to a surge in MEV reward blocks, generating significant profits for certain participants. MEV, in the context of Ethereum, refers to the potential revenue that can be…

TL;DR Breakdown Binance FZE is now the first exchange in the world to receive an Operational Minimum Viable Product(MVP) License in Dubai. Customers in the region can access a trustworthy and regulated service that emphasizes security and complies with very specific tier 1 VA rules. Binance has been actively pursuing regulatory compliance in the United Arab Emirates, following scrutiny in regions such as Cyprus, the Netherlands, and Austria. Description Binance FZE, Binance‘s Dubai subsidiary, has become the first exchange in the world to receive an Operational Minimum Viable Product (MVP) License in Dubai. The license comes from the emirate’s Virtual Asset Regulatory Authority (VARA).  Binance highlighted in the announcement that residents of the UAE and other consumers from around the world who sign up … Read more Binance FZE, Binance‘s Dubai subsidiary, has become the first exchange in the world to receive an Operational Minimum Viable Product (MVP) License in Dubai. The license comes from the emirate’s Virtual Asset Regulatory Authority (VARA).  Binance highlighted in the announcement that residents of the UAE and other consumers from around the world who…

TL;DR Breakdown Mike Novogratz recommends a high-risk portfolio for young investors, comprising Alibaba, silver, gold, Bitcoin, and Ethereum to capitalize on potential growth opportunities. BlackRock CEO Larry Fink’s endorsement of Bitcoin and the Ripple case verdict’s impact underscores the need for clear cryptocurrency regulations in the market. Description Renowned investor and founder of Galaxy Digital, Mike Novogratz, recently provided insights into his ideal investment portfolio for young investors with a high-risk tolerance during an exclusive interview with Bloomberg Wealth. Novogratz’s recommended portfolio combines traditional and digital assets, aiming to capitalize on potential growth opportunities in the global markets. With a focus on Chinese … Read more Renowned investor and founder of Galaxy Digital, Mike Novogratz, recently provided insights into his ideal investment portfolio for young investors with a high-risk tolerance during an exclusive interview with Bloomberg Wealth. Novogratz’s recommended portfolio combines traditional and digital assets, aiming to capitalize on potential growth opportunities in the global markets. With a focus on Chinese e-commerce giant Alibaba, precious metals like silver and gold, and leading cryptocurrencies Bitcoin and Ethereum, Mike Novogratz suggests an…

TL;DR Breakdown Several stable pools on Curve Finance, along with other decentralized finance (DeFi) projects, fell victim to a devastating exploit on July 30, causing losses amounting to $24 million. DeFi projects, including decentralized exchange Ellipsis, Alchemix’s alETH-ETH pool, JPEGd’s pETH-ETH pool, and Metronome’s sETH-ETH pool, suffered substantial financial losses.  Description In a shocking turn of events, several stable pools on Curve Finance, along with other decentralized finance (DeFi) projects, fell victim to a devastating exploit on July 30, causing losses amounting to $24 million at the time of reporting. The exploit was traced back to vulnerabilities in specific versions of the Vyper compiler, with versions … Read more In a shocking turn of events, several stable pools on Curve Finance, along with other decentralized finance (DeFi) projects, fell victim to a devastating exploit on July 30, causing losses amounting to $24 million at the time of reporting. The exploit was traced back to vulnerabilities in specific versions of the Vyper compiler, with versions 0.2.15, 0.2.16, and 0.3.0 being identified as the culprits. PSA: Vyper versions 0.2.15, 0.2.16 and 0.3.0…

TL;DR Breakdown A critical vulnerability in the Vyper programming language allowed malicious actors to exploit a malfunctioning reentrancy lock, leading to the theft of millions of dollars from several DeFi liquidity pools, including those on Curve Finance. The incident emphasizes the importance of regular security audits, code reviews, and stress testing to protect the funds and users of DeFi protocols and ensure the long-term sustainability of the ecosystem. Description The decentralized finance (DeFi) ecosystem is facing a major stress test following the discovery of a critical vulnerability in versions 0.2.15, 0.2.16, and 0.3.0 of the Vyper programming language. The vulnerability allowed malicious actors to exploit a malfunctioning reentrancy lock, resulting in the theft of millions of dollars worth of cryptocurrencies on July 30. The … Read more The decentralized finance (DeFi) ecosystem is facing a major stress test following the discovery of a critical vulnerability in versions 0.2.15, 0.2.16, and 0.3.0 of the Vyper programming language. The vulnerability allowed malicious actors to exploit a malfunctioning reentrancy lock, resulting in the theft of millions of dollars worth of cryptocurrencies on July…

TL;DR Breakdown The SEC asked Coinbase to halt all trading except Bitcoin before suing them. Coinbase refused, fearing it would end the U.S. crypto industry. The move reflects the SEC’s push for wider authority over the crypto market. Conflicting views and regulations with other bodies like the CFTC add complexity. Description The curtain has been drawn back on the intentions of the U.S. Securities and Exchange Commission (SEC), as they approached Coinbase with a proposal that sent shockwaves throughout the cryptocurrency industry. A recommendation was made to Coinbase to halt all trading activities involving cryptocurrencies except Bitcoin, prior to taking legal action against the Nasdaq-listed company. … Read more The curtain has been drawn back on the intentions of the U.S. Securities and Exchange Commission (SEC), as they approached Coinbase with a proposal that sent shockwaves throughout the cryptocurrency industry. A recommendation was made to Coinbase to halt all trading activities involving cryptocurrencies except Bitcoin, prior to taking legal action against the Nasdaq-listed company. This is more than a regulatory measure; it’s a bold assertion of authority over an emerging…