Business
The USDT issuer is one of the world’s largest buyers of U.S. Treasury bills, with $72.5 billion worth of exposure.
Betting platform Stake is suspected of being the target of an exploit, as on-chain sleuths report $40 million lost in “suspicious” withdrawals.
DeFi
Last year, decentralized exchange dYdX decided to move from Ethereum to its own chain on Cosmos.
The technical quality, resilience to FTX’s collapse and the functionality of existing forks of Solana are the three main reasons why the Maker cofounder believes it is the “most promising codebase” for the new chain.
Ethereum
RocketPool, Stakewise, Stader Labs and Diva Staking have agreed to limit their share of the Ethereum staking market to 22% as part of an effort to make sure the network stays decentralized.
Bitcoin
Kaiko believes that the USDT depegs through the month of August wasn’t bigger news because they haven’t been “as dramatic” as ones in the past in pure price terms.
Regulation
The SEC has delayed its decision on whether to approve or deny spot Bitcoin ETFs from all existing applicants, including BlackRock and Fidelity.
The bankrupt crypto lender has asked the court for permission to convert the remaining trade-only assets in user accounts into stablecoins that can be withdrawn.
Three groups of creditors opposed a restructuring agreement that would see them recover between 65% to 90% of their claims.