Defi protocol Unizen to reimburse users after its recent hack
Cryptopolitan (RSS)

Following a security breach resulting in the loss of approximately $2.1 million in user funds, decentralized finance (DeFi) protocol Unizen has taken swift action to address the situation. The platform announced plans to reimburse users who lost up to 750,000 units, aiming to restore 99% of affected users’ funds as quickly as possible.

Unizen to reimburse 99% of affected users’ funds

The incident came to light on March 9 when blockchain analytics firm PeckShield identified an “approve issue” with the DeFi platform, signaling that over $2 million had been drained. Users were urged to revoke approvals from the trade aggregator to prevent further losses.

Security company SlowMist estimated the exploit losses at $2.1 million, revealing that the attacker had exchanged Tether for the stablecoin Dai. Unizen wasted no time in responding to...

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Revolutionizing Memory Care: Sensay Unveils AI-Powered Digital Replicas for Dementia Support and Beyond
Cryptopolitan (RSS)

London, UK, March 11th, 2024, Chainwire

Sensay, a pioneering technology company at the intersection of AI and blockchain, today announced the imminent launch of its innovative platform designed to create autonomous lifelike AI Digital Replicas on-chain, marking a significant leap towards digital immortality. Leveraging cutting-edge technology, Sensay offers limitless potential in the digital age, empowering users to retain ownership and monetize their digital twins.

A Bold Step for Dementia Patients and Beyond

Starting with a focus on dementia patients and their families, Sensay aims to provide immediate social impact by offering lifelike digital replicas for memory preservation and companionship. This groundbreaking approach addresses the urgent needs of over 55 million individuals worldwide affected by dementia,...

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Blackrock Brings Ethereum ETF Enthusiast on Board to Focus on Crypto Offerings
CoinGape (RSS)

Blackrock has hired GSR research analyst Matt Kunke as a Digital Assets Product Strategist. The appointment comes at a time when the Ethereum ETF approval resides near and Blackrock aims to improve its crypto ETF offering to customers.

Blackrock Hires Matt Kunke
Matt Kunke, a former GSR research analyst, was brought on by BlackRock as a product strategist for iShares digital assets ETFs. According to his LinkedIn profile, Kunke started serving at Blackrock in February 2024. The appointment seems a little important as Kunke had previously placed a 75% bet on the approval of spot Ethereum ETF, something that Blackrock must be waiting for in anticipation.

Read Also: VanEck Axes Fees on Spot Bitcoin ETF for 24 Months

Ethereum ETF Bets Drop
The appointment comes at a crucial moment when the market’s bet...

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FDIC Vice Critiques SEC’s Crypto Guide, Cites Major Concern
CoinGape (RSS)

Travis Hill, the Vice Chair of the Federal Deposit Insurance Corporation (FDIC), has aired a lot of criticism concerning the Securities and Exchange Commission’s (SEC) crypto accounting guidelines. He gave his comments during a speech at an event organized by the Mercatus Center, dedicated to the subject of tokenization. The critique is based upon the SEC’s Staff Accounting Bulletin (SAB) 121, which requires that firms that custodian cryptocurrencies to record the crypto holdings of their customers as liabilities on their balance sheet.

Departure from Traditional Custodian Practices
Hill noted that SAB 121 indicates a major departure from the existing custodian accounting practices. Custodial assets in financial institutions have been traditionally excluded from their balanc...

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Ripple CEO: Only RWA Can Validate “Crypto is Back” Hype
CoinGape (RSS)

Brad Garlinghouse, CEO of blockchain payments firm Ripple Labs Inc, has highlighted the surging volumes of Bitcoin (BTC) Exchange-Traded Funds (ETFs) and the imminent halving event, noting their significant influence on the broader cryptocurrency market.

Garlinghouse highlighted the historical pattern of the crypto market following BTC’s lead, a trend observed across multiple market cycles. He, however, maintains that only Real World Assets (RWA) can sustain the hype around crypto.

Ripple CEO and RWA Embrace
Drawing from his experience traversing various crypto market cycles, the Ripple CEO emphasized the importance of coupling bullish market sentiment with real-world utility. He stressed that while bullish trends are promising, they must align with tangible applications and utility in the real world to signify genuine progress within the cryptocurrency ecosystem.

...

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Coinbase Accuses U.S. SEC of Breaking the Law in Rejecting Crypto Rulemaking
CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data (RSS)

Coinbase Inc. (COIN) has accused the U.S. Securities and Exchange Commission of ignoring the law when it rebuffed the company's formal petition for crypto rules, according to a filing Monday in the U.S. Court of Appeals for the Third Circuit.

Breaking: Coinbase Files First Brief In SEC’s Rulemaking Denial Lawsuit
CoinGape (RSS)

Coinbase, a U.S. cryptocurrency exchange, has officially filed its opening brief in a lawsuit against the Securities and Exchange Commission (SEC). This lawsuit has come about as a result of the SEC’s failure to set clear regulatory guidelines for the cryptocurrency industry, which Coinbase claims was a decision taken arbitrarily without adequate explanation.

The filing, submitted to the U.S. Court of Appeals for the Third Circuit, represents a major move in the ongoing war between the crypto exchange and the regulatory body.

Israel to Introduce CBDC with Interest-Bearing Features
CoinGape (RSS)

The Bank of Israel recently revealed plans to support a new central bank digital currency (CBDC) with unique features. This includes the potential for the digital shekel to accrue interest. The announcement came on March 11, outlining a vision for a digital currency that incorporates cutting-edge financial technology and privacy considerations. The proposed CBDC aims to enhance the efficiency of payment systems within the country.

The digital shekel will operate on a two-tier model. It promises instant transactions available 24/7, support for multiple payments, and offline functionality. Moreover, the CBDC will have built-in limitations on balances. One of its most notable features is the option for it to become interest-beari...

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