MakerDAO proposal seeks to hike DAI savings rate to 3.33%

The community of Ethereum-based decentralized finance (DeFi) protocol MakerDAO will soon vote on a proposal seeking to increase the Dai stablecoin (DAI) savings rate (DSR) to 3.33%. If it all goes through, the move is tipped to have broader implications for rates across DeFi. In a May 26 tweet, the Maker team revealed that an […]

Crypto hater Peter Schiff to drop Bitcoin Ordinals NFT art collection

In what seems like a parody but isn’t, Economist, gold proponent and avid crypto skeptic Peter Schiff has unveiled a collaborative nonfungible token (NFT) art collection on Bitcoin that will soon go up for auction. The reaction from the crypto community has been mixed, with people generally baffled, amused, welcoming — especially Ordinals proponents — […]

Diversified set of guardians required for safe self-custody: Vitalik Buterin

Ethereum co-founder Vitalik Buterin has emphasized the importance of having a varied set of “guardians” to maximize the safety of crypto asset self-custody via multisig and social recovery wallets. Given the ever-growing rate of crypto scams and hacks over the past few years, and several major crypto firms going bust in 2022, the importance of […]

Microsoft reportedly testing Edge browser web3 wallet integration

Microsoft is reportedly working on integrating a crypto and nonfungible token (NFT) friendly Web3 wallet into its Edge web browser. In a March 17 Twitter thread, software documenter — and occasional info leaker — Albacore shared a series of supposed Edge user interface (UI) screenshots showing the early stages of the firm’s new Web3 wallet. […]

US Fed faces internal probe over Silicon Valley Bank failure

The Federal Reserve is investigating the factors that led to the failure of Silicon Valley Bank — including how it supervised and regulated the now-collapsed financial institution. In a Mar. 13 announcement, the Federal Reserve outlined that Vice Chair for Supervision Michael Barr is “leading a review of the supervision and regulation of Silicon Valley […]

USDC bounces back toward $1 peg after Fed announcement

Circle’s stablecoin USD Coin (USDC) is climbing back to its $1 peg following confirmation from CEO Jeremy Allaire that its reserves are safe and the firm has new banking partners lined up at “banking open tomorrow morning.” According to CoinGecko data, USDC is up 3.3% over the past 24 hours to sit at $0.99 at […]

Circle discloses $3.3B tied up at Silicon Valley Bank

On March 10, Blockchain payment tech company and USD Coin (USDC) issuers Circle confirmed that wires initiated on Thursday to remove balances have not yet been processed, leaving $3.3 billion of its $40 billion USDC reserves at Silicon Valley Bank (SVB). Concerns have been growing over USDC late this week due to Circle disclosing in […]

Jump Crypto & counter exploits Wormhole hacker for $225M

Web3 infrastructure firm Jump Crypto and decentralized finance (DeFi) platform have conducted a “counter exploit” on the Wormhole protocol hacker, with the duo managing to claw back $225 million worth of digital assets and transfer them to a safe wallet. The Wormhole attack occurred in February 2022 and saw roughly $321 million worth of […]