DeFi
The protocol said it was pausing withdrawals as an emergency measure and assured users that the $35 million in Total Value Locked was not at risk.
The cross-chain bridge protocol has suspended service for some affected chains after being locked out of the necessary servers.
Regulation
Sam Bankman-Fried’s lawyers plan to argue that their client was acting on the advice of a Silicon Valley law firm with regards to many of the fraud charges against him.
Business
Senior executives at the crypto exchange characterized the job cuts as a cyclical “talent density audit” as opposed to a cost-cutting measure.
Bitcoin
The next difficulty adjustment set to take place on May 31 would be a new all-time high for the Bitcoin mining metric.
The government is pushing for an independent inquiry into FTX despite its estimated $100 million cost to the bankruptcy estate.
Binance is reportedly considering letting institutional clients hold their trading collateral at a bank as a way to reduce counterparty risk.
Former FTX CEO Sam Bankman-Fried could have some charges against him dropped if the Bahamas deems that they violate his extradition terms.
Contrary to popular belief, two FINRA-approved digital asset firms say there is a clear path to being compliant with regulators.
The crypto exchange plans to assist police with gathering evidence on platform users involved in money laundering.