BNB Chain Fork, Huobi Drama, And More

SushiSwap has attracted a lot of negative attention this week after bizarre allegations emerged against its newly appointed head chef, Jared Grey. Let’s take a deep dive into some notable crypto news from this week. 

Bitcoin

Renowned investor Bill Miller has said he remains bullish on Bitcoin, claiming that cryptocurrencies are “misunderstood.” He believes there will be a market rebound at some point, with Bitcoin becoming one of the assets to benefit.

Ethereum

While financial institutions worldwide deal with record levels of inflation, Ethereum is having a dilemma created thanks to deflation. 

DeFi

Solana-based trading and lending platform Mango Markets was hacked resulting in a staggering $117 million loss. 

SushiSwap’s brand new head chef, Jared Grey, who was supposed to provide stable leadership to the organization, has been accused of scamming multiple crypto investors. 

Altcoins

The Helium Foundation’s token, HNT, will soon be removed from multiple trading pairs on the Binance crypto exchange. Helium executives have questioned this decision. 

Stellar Development Foundation has launched a $100 million fund to encourage developers to build on the Soroban smart contract platform. 

Cosmos developers have discovered a critical security vulnerability in the Cosmos ecosystem that could put all IBC-enabled blockchains at risk. 

Technology

Consumer and tech behemoth Samsung has introduced a blockchain-based security system for securing devices on its network. 

Police in the Indian city of Firozabad have partnered with Polygon to launch a complaints portal powered by the Polygon blockchain. 

BNB Smart Chain has announced that it has executed a hard fork to issue a critical security patch after a major exploit drained the platform of $100 million. 

Polygon has announced the release of its public zkEVM testnet, which will enable developers to test the development of privacy-enhancing zk-rollups in their respective dApps.

Business

The world’s largest stablecoin, Tether announced that it had slashed its $30 billion of commercial paper holdings to zero.

Justin Sun and Sam Bankman-Fried have had to deny their involvement in the Huobi Global Sale for the second time as new reports emerged on Wu Blockchain. 

Regulation

Senators Kirsten Gilibrand and Cynthia Lummis have said that part of their signature cryptocurrency regulation bill could pass in the next six months, giving the CFTC control over digital commodities.

The Financial Stability Board (FSB) has just published two reports that contain recommendations for frameworks to comprehensively govern crypto-assets and stablecoins.

The lower house of Kazakhstan’s parliament has passed five new crypto bills including a legal framework for the regulation of bitcoin and cryptocurrencies

Wallet service provider Blockchain.com has announced that it will begin to shut down accounts belonging to Russian nationals. 

NFT

1inch has announced a partnership with NFT domain name provider and digital identity platform Unstoppable Domains to make transactions more efficient and user-friendly for 1inch wallet users. 

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.