DeFi
The Magic Internet Money (MIM) stablecoin lost its U.S. dollar-peg after an exploit on cross-chain protocol Abracadabra.money’s cauldrons on Ethereum.
Regulation
The SEC plans to dismiss a lawsuit against crypto firm Debt Box after a federal court ordered the regulator to explain why sanctions should not be imposed on its lawyers that made misleading statements to secure a restraining order.
Tech
Farcaster, a decentralized social network, recently released Frames, which turns posts on the social network into interactive applications. Since the roll-out, a number of bounties have emerged to motivate developers to build Frames.
Ethereum
The bank’s report also predicted ETH could hit $4,000 in the lead-up to an approval.
Around 25% of the $2.6 billion stolen in over 600 major crypto hacks last year has been recovered, according to PeckShield’s Crypto Security Annual Report.
Bitcoin
Bitcoin’s 12-month annualized volatility has fallen to 45% – the lowest level in 12 years, which some analysts are attributing to the approval of spot Bitcoin ETFs earlier this month.
Last week, Jupiter reached over 578,000 traders, the most in a single week, ahead of a much-anticipated airdrop expected to occur on Wednesday.
The crypto platform will add Atomicals (ARC-20), Stamps (SRC-20), Runes, and Doginals, (DRC-20) to its OKX wallet and marketplace to make trading more accessible.
Crypto users who transacted on Jupiter, a Solana-based DEX swap aggregator, were able to claim WEN tokens for a few days until Monday morning. All unclaimed WEN tokens, worth about $35 million, will be burned, according to the token’s creators.
The Stellar Development Foundation has disarmed its validators, urging others on the network to hold off on voting to implement the Protocol 20 upgrade until a bug fix has been released.
