Tech
Some Atomic Wallet users have reported losing their entire crypto portfolios following an exploit. ZachXBT estimates the losses to be over $35 million.
DeFi
The MakerDAO community has voted to remove the entirety of Paxos Dollar (USDP) stablecoins held in its reserves.
Business
Binance will delist 12 privacy coins, including Monero and Zcash, in France, Italy, Poland and Spain.
Ethereum
The Arbitrum-based USDC will be the official version of the stablecoin, replacing the existing Ethereum-based bridged version.
A proposal to turn on protocol fees for liquidity providers narrowly missed being passed by the Uniwap community.
The protocol said it was pausing withdrawals as an emergency measure and assured users that the $35 million in Total Value Locked was not at risk.
The cross-chain bridge protocol has suspended service for some affected chains after being locked out of the necessary servers.
Regulation
Sam Bankman-Fried’s lawyers plan to argue that their client was acting on the advice of a Silicon Valley law firm with regards to many of the fraud charges against him.
Senior executives at the crypto exchange characterized the job cuts as a cyclical “talent density audit” as opposed to a cost-cutting measure.
Bitcoin
The next difficulty adjustment set to take place on May 31 would be a new all-time high for the Bitcoin mining metric.
