Business
Meta is ending support for NFTs to focus on other areas of its business, less than a year after the feature was first launched.
DeFi
An attacker made off with $197 million worth of crypto after executing a flash loan exploit on DeFi lending protocol Euler Finance.
Signature board member Barney Frank thinks regulators closed the bank down to send “a strong anti-crypto message.”
DeFi giant MakerDAO will enact a series of changes to its protocol parameters on Monday to reinforce DAI’s peg.
Circle CEO Jeremy Allaire said the firm plans to onboard a new transaction banking partner for USDC settlements potentially as soon as tomorrow.
Major crypto exchange Coinbase said it expects to recover the entirety of its $240 million cash balance at Signature.
U.S. regulators have shut down Signature Bank, saying that all depositors will have full access to their deposits.
Bitcoin
BitMEX’s Arthur Hayes introduced the idea of a stablecoin backed by Bitcoin and derivatives in light of “the recent banking tremors reverberating through the crypto space.”
DeFi lending protocol Aave will increase the cost of borrowing BUSD to incentivize users to switch to other stablecoins.
Maker’s Rune Christensen called for a new name, a new look and a different approach to user acquisition for DAI.