Day: June 23, 2022
BLOCKCHAIN

‘Bad’ crypto projects should not be bailed out says Binance founder CZ

[ad_1] Binance founder and CEO Changpeng “CZ” Zhao argues that “bad” crypto projects should be left to fail and not receive bailouts from crypto firms with healthy cash reserves. In a June 23 blog post, CZ said that firms that have been poorly operated, poorly managed or have released poorly designed products shouldn’t receive bailouts — and should instead be left to crumble: “In short, they are just ‘bad’ projects.
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Business

Harmony’s Horizon Bridge hacked for $100M

[ad_1] The Horizon Bridge to the Harmony layer-1 blockchain has been exploited for $100 million in altcoins which are being swapped for Ether (ETH).The hack may vindicate previously raised community concerns about the robustness of the two of four multisig that reportedly secures the bridge.Starting at about 7:08 am until 7:26 am ET, 11 transactions were made from the bridge for various tokens. They have since begun sending tokens to
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Business

Chainalysis tips Australia will crack down on misleading crypto ads

[ad_1] Chainalysis’ head of international policy Caroline Malcolm expects Australia’s new rules governing crypto advertising, promotion and consumer safeguards to follow a similar path to the United Kingdom when they come into place within the next year. “I think we're more likely to see something along the lines of the UK model which is really focusing on a crackdown on misleading advertising or advertising which doesn't present the risks alongside the
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BLOCKCHAIN

US Congressional hearing on digital asset regulation focuses on disclosure

[ad_1] Disclosure was an important theme at a United States House of Representatives hearing on digital asset regulation Thursday. Although chair of the House Agriculture Committee Subcommittee on Commodity Exchanges, Energy and Credit Sean Maloney specified that it would focus on gaps in the oversight and regulation of derivatives and underlying spot markets, the discussion ranged widely. The Agriculture Committee oversees the Commodity Futures Trading Commission (CFTC), which regulates financial markets
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