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Yuga Labs directs royalties to bankrupt FTX US

Yuga Labs, the firm behind the Bored Ape Yacht Club (BAYC) and other popular NFT collections, has been directing ‘royalties’ to a deposit address associated with FTX US, according to Blockchain Intelligence firm Arkham Intelligence.  Arkham highlights the fact that Yuga Labs has sent over $250,000 worth of value over the last two months...

Fri Apr 12, 2024 19:28
Blast L2-based lending platform makes costly error, liquidating users for $26M

Pac Finance, a crypto lending platform on the Ethereum L2 Blast, made a costly error while updating its ezETH market parameters yesterday. The resulting $26 million of liquidations, spotted by Parsec founder Will Sheehan, affected at least a dozen addresses, though the worst hit user lost the lion’s share, at $24 million. Responding...

Fri Apr 12, 2024 16:59
Aussie court drops billionaire’s Meta crypto scam case

Australian prosecutors have dropped mining billionaire Andrew Forrest’s criminal case against Meta in which he was seeking reparations over a series of crypto scam advertisements that used his face. According to a spokesperson for the Commonwealth Director of Public Prosecutions (CDPP), there was insufficient evidence to continue Forrest’s...

Fri Apr 12, 2024 16:39
Did Michael Saylor pay Bitcoin developers to stop working?

Ten31 managing partner Matt Odell claimed this week that he’d figured out Michael Saylor’s true beliefs about Bitcoin development, specifically that, if asked, “He would encourage you to not support open source developers,” that he has “actively killed deals to support developers,” and that “he is proud of it.” Odell’s opinion, which he shared...

Fri Apr 12, 2024 15:08
Uniswap received a Wells notice — now what?

With social media aflutter with news that Uniswap had received a Wells notice, it’s important to define exactly what Uniswap and a Wells notice are. Uniswap is what’s known as a decentralized exchange — a platform that relies on smart contracts to execute buy and sell orders for customers instead of a matching engine controlled by a centralized...

Thu Apr 11, 2024 21:24
The rise and fall of KuCoin

Warrants are out for the arrest of the co-founders of KuCoin with the multi-count criminal indictment providing a spectacular bookend to the story of the world’s once-fourth largest crypto exchange. But where did it all go wrong and how did KuCoin even start in the first place? The story of KuCoin starts not at its September 2017 founding...

Thu Apr 11, 2024 20:41

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