DeFi
A faulty multisig script resulted in a large amount of the Yearn protocol’s treasury being drained, with the affected tokens being “strictly protocol-owned liquidity.”
Regulation
CTFC Chair Rostin Behnam said that most crypto tokens constitute commodities, while admitting that there is a “turf war” between regulatory bodies when it comes to jurisdiction over the crypto industry.
Business
The Treasury Department’s Office of Foreign Assets Control (OFAC) said the penalty related to 989 transactions that were processed for CoinList users between April 2020 and May 2022.
Ethereum
In a new post, the Ethereum co-founder laid out the benefits and challenges of an “enshrined” ZK-EVM to improve security and speed.
The guidance will allow companies to record profits when the value of their crypto holdings increases, and not just losses when the value of those holdings falls, as was previously the case.
The platform said it was working to locate the stolen funds and will reimburse affected users.
Binance doubled down on its motion to dismiss an SEC lawsuit on Tuesday in response to an opposing motion filed by the SEC last week.
A revised BlackRock spot Bitcoin ETF filing will allow large U.S. banks to act as authorized participants for the funds.
NFTs
Prices of previous Trump NFTs rose in the immediate aftermath of the announcement.
KuCoin will pay a total of $22 million in fines and refunds and cease operations in New York to settle a lawsuit brought by the state’s Attorney General.