Decentralized Finance Giant MakerDAO to Introduce Spark Protocol, a Rival to the Aave Lending Protocol

The development of a dedicated lending protocol represents a shift in focus from MakerDAO, which has aligned its revenue model with the issuance of DAI since the latter’s inception in 2017. MakerDAO has formed Phoenix Labs, a research and development company that will be tasked with building the Spark Protocol.

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Coinbase’s (COIN) Brian Armstrong Cites ‘Rumors’ the SEC May Ban Retail Crypto Staking

While Armstrong’s suspicions may come as a surprise to many in the industry, SEC Chairman Gary Gensler has previously stated that cryptocurrencies that allow staking could be classified as securities under the Howey test – even though ether has been designated as a commodity by the SEC’s sister regulator, the Commodity Futures Trading Commission (CFTC).

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StarkWare to Open Source Its Ethereum Scaling System

“Every step we take to provide infrastructure, and to make it accessible and decentralized, is a catalyst for devs to build,” StarkWare co-founder and President Eli Ben-Sasson said in a statement at the summit. “And the quicker and more broadly they build, the faster we’ll see mass onboarding to solutions that truly enable people to […]

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Sam Bankman-Fried’s Emergent Fidelity Technologies Files for Bankruptcy

Emergent Fidelity was the company which held 56 million shares of Robinhood Markets (HOOD) stock, an asset that quickly became a subject of key interest among several companies for the value it could bring FTX creditors. The shares were also pledged as collateral to bankrupt crypto lender BlockFi, which placed its own claim last year.

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Marathon Digital Sells Mined Bitcoin for First Time to Monetize Recent Rally

The miner said in a release on Thursday that the decision was made to cover some of its expenses. “With bitcoin production increasing and becoming more consistent, we made the strategic decision to sell some of our bitcoin, as previously planned, to cover some of our operating expenses and for general corporate purposes,” Marathon’s Chairman […]

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AllianceBlock Token Plunges 51% After $5M Exploit of Bonq DAO

AllianceBlock has paused all activity on its bridge following the attack, which occurred Wednesday afternoon. During the exploit a Polygon wallet accessed 112 million ALBT tokens, bridging them from the Polygon blockchain to the Ethereum blockchain. The hacker also got 500,000 USDC from dumping bonq euro (BEUR) tokens.

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Crypto Issuance Startup Tokensoft Brings Its Token Launchpad On-Chain

The technology will be available on-chain on Ethereum, Celo, Arbitrum, Optimism, Polygon and Avalanche. California-based Tokensoft is betting its open-source smart contracts will help it take a chunk of business from other popular on-chain fundraising mechanisms, such as exchange initial DEX offerings (IDO) and token launchpads.

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WazirX Says Binance Lied About Ownership as Dispute About India’s Largest Exchange Escalates

To prove his point, Shetty attached a partially redacted email chain that began on July 19, 2021, between Brian Schroder, the CEO of Binance US, and Tushar Patel, the vice president of finance at WazirX, about an amended “share purchase agreement.”

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