Three prominent venture capital firms bought tokens directly from the DAO’s treasury.
Go to Source
Author: Daniel Kuhn
A reading of Nic Carter’s latest essay for CoinDesk on the inappropriateness of comparing the energy consumption of bitcoin and Visa transactions.
Go to Source
Author: Nathaniel Whittemore
The record comes as traders analysts have described institutional investors’ interest in bitcoin as growing “at a staggering pace.”
Go to Source
Author: Kevin Reynolds
The firm has generated almost $100 million in NFT sales, according to the report.
Go to Source
Author: Kevin Reynolds
Morgan Stanley already has a nearly 11% stake in the bitcoin-laden business intelligence company MicroStrategy.
Go to Source
Author: Kevin Reynolds
Counterpoint Global—a unit of Morgan Stanley Investment Management—is exploring whether it will make a bet on bitcoin, according to a Bloomberg News report.
Citing sources, the report said that the unit, which manages $150 billion, would need approvals from the wider firm and regulators to make such an investment. Still, it represents Wall Street’s broader push into the cryptocurrency, which is increasingly being viewed as an inflation hedge asset.
A spokeswoman for Morgan Stanley declined to comment on Bloomberg’s report.
Morgan Stanley made headlines during the height of the 2017 initial coin offering bubble for exploring the launch of a possible swap-like product tied to bitcoin. That product, ultimately, did not launch.
© 2021 The Block Crypto, Inc. All Rights Reserved. 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.
Go to Source
Author: Frank Chaparro
Leverage liquidity protocol Alpha Homora was the victim of a $37.5M exploit on Saturday.
The exploit involved the use of CREAM Finance’s Iron Bank service, which gives out uncollateralized loans to trusted smart contracts. In Saturday’s hack, an exploiter coded a contract that tricked Alpha Homora into believing it is their own contract. The exploiter then used this privileged access to trick CREAM Finance into lending out $37.5M worth of ETH and stablecoins.
To get a credit line from the Iron Bank, a user must have one of the following three backstops to ensure debt is paid back:
- A treasury large enough to cover credit
- Has a Cover Protocol insurance large enough to cover credit
- Has a Nexus Mutual l insurance large enough to cover credit
Alpha Homora’s treasury currently holds $1.6B worth of ALPHA tokens. It is unclear whether this treasury will be used to pay off the debt.
According to Alpha Homora, the loophole that caused the exploit has been patched and the team is working with Yearn founder Andre Cronje and CREAM Finance to investigate the stolen funds and “have a prime suspect already.”
© 2021 The Block Crypto, Inc. All Rights Reserved. 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.
Go to Source
Author: The Block
A recap of a swath of news about corporate players coming into the crypto space, and why it could change the landscape of regulation.
Go to Source
Author: Nathaniel Whittemore
Alpha Finance says the “loophole” has been patched.
Go to Source
Author: Kevin Reynolds
The Ethereum incubator’s instructional program offers scholarships to help developers get started with coding in Solidity.
Go to Source
Author: Anna Baydakova
