Crypto hack losses hit $19B, Terraform Labs shuts down: Finance Redefined

Bitcoin whales continue accumulating, despite the potential sell pressure from Mt. Gox creditors, which could see 99% of investors selling.

The past week in the decentralized finance (DeFi) ecosystem was dominated by Terra's collapse and its aftermath on various ecosystems it was connected. Now BNB chain has come to the rescue of several stranded projects on Terra by offering financial and technical assistance.After its spiral collapse, Terra co-founder Do Kown proposed a revival plan and…

The company expects to raise another $20-$30 million when the full round closes in the coming months. Game publisher Mythical Games has secured $37 million in Series C1 funding, with plans to launch a new marketplace and pursue other revenue-generating initiatives. With this funding, Mythical will continue to hold the unicorn status with a valuation…

The Leicester Crown Court ordered the seizure of over £1.8 million ($2.29 million) on June 8 from a UK individual who operated a multi-billion crypto drug empire from the attic of his home.According to the Harborough Mail, Paul Johnson, 32, a former KFC employee, ran a darknet marketplace from his semi-detached house in Leicestershire. Johnson…

Cryptocurrency exchanges in Korea shrink within national boundaries due to lack of regulatory clarity. 1488 Total views 22 Total shares The lack of regulatory uncertainty in South Korea is causing major Korean cryptocurrency exchanges to lose international traders and turn their focus on the domestic audience.Speaking to Cointelegraph, a spokesperson of the South Korean exchange…

Binance — the second-largest crypto exchange by daily trade volume — has announced support for Tezos (XTZ) staking, according to an announcement published on Dec. 3.Starting on Dec. 4, Binance’s users will be able to trade with XTZ, with XTZ rewards to be calculated daily based on live snapshots and distributed monthly. The distribution is…

According to recent data, the cryptocurrency sector outputs near 150 TWh of electricity annually, a figure higher than countries such as Poland, Norway, Egypt or Sweden. 408 Total views 43 Total shares Cryptocurrency exchange BitMEX has become one of the first exchanges in the sector to announce their carbon-neutral status, as well as vowing to…

The Treasury report was required under President Joe Biden’s executive order on digital assets issued in March. The United States Department of the Treasury has delivered to President Joe Biden a framework on crypto for U.S. government agencies to work with their foreign counterparts.In a Thursday announcement, the U.S. Treasury said it had reported on…

The FTX bankruptcy has sent the crypto space into a downward spiral, and the crypto space is still buzzing to get all the details that led to this situation. Numerous reports have popped up, and the bankruptcy hearings bring new information daily. Considering the extent of FTX’s involvement in the global crypto space now is…