December 29, 2022

Web3 projects would instead get hacked than pay bounty: Finance Redefined

Web3 projects would instead get hacked than pay bounty: Finance Redefined

Welcome to Finance Redefined, your weekly dose of essential decentralized Finance (DeFi) information – a newsletter designed to give you powerful insights into the past week. One of the top decentralized exchange platforms, Uniswap, incorporates support for debit and credit cards for users. Users of Uniswap will be able to purchase cryptocurrencies using their cards …

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Mythical Games Sues Former Executives for Secretly Raising 0M for New Firm

Mythical Games Sues Former Executives for Secretly Raising $150M for New Firm

Mythical Games has filed a lawsuit against three former executives of game studio Web3 for breach of fiduciary duty while working for the company. According to the case filed Thursday, Senior Vice President Chris Ko, COO, and Chief Gaming Officer Matt Nutt, and co-founder Rudy Koch stole Mythical’s capital-raising plans and poured $150 million into …

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FTX asks bankruptcy judge to stop BlockFi from claiming Robinhood shares

FTX asks bankruptcy judge to stop BlockFi from claiming Robinhood shares

Struggling cryptocurrency exchange, FTX has sought the assistance of a United States bankruptcy judge to prevent cryptocurrency lending firm BlockFi from claiming around $450 million in Robinhood stock bought by its former CEO Sam Bankman-Fried. On Nov. 28, BlockFi filed a lawsuit seeking Bankman-Fried’s holding company, Emergent Fidelity Technologies, to surrender 56 million shares of …

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Bridge attacks will still pose a significant challenge for DeFi in 2023 — Security experts

Bridge attacks will still pose a significant challenge for DeFi in 2023 — Security experts

Security has been a critical challenge for decentralized finance (DeFi) and its evolution. Between 2020 and 2022, hackers stole more than $2.5 billion through vulnerabilities in cross-chain bridges, Token Terminal data shows. This is a significant amount compared to other security breaches. The problems with bridges have a root cause. They all have an “inherent …

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Brazil’s Securities Regulator Allows Investment Funds to Invest in Crypto

Brazil’s Securities Regulator Allows Investment Funds to Invest in Crypto

Brazil’s Securities and Exchange Commission (CVM) on Friday approved the ability of mutual funds to add crypto assets to their holdings. In a statement, the regulator said the decision aims to allow funds to operate in the crypto space while maintaining controls over ‘s integrity and asset ownership. To be part of fund portfolios, CVM …

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