MakerDAO passes new ‘constitution’ to formalize governance process

[ad_1] MakerDAO, the decentralized autonomous organization that governs the Dai (DAI) stablecoin, has passed a new proposed “constitution” intended to formalize governance processes and help prevent hostile actors from taking over the protocol, according to the official forum page for the proposal.The Maker Constitution has been approved by Maker Governance.The Endgame Era is upon us.— Maker (@MakerDAO) March 27, 2023 According to the proposal’s text, a constitution is needed

Euler Finance exploiter returns another $37.1M worth of ETH and DAI

[ad_1] The architect of the March 13 Euler Finance exploit returned an additional $26.5 million worth of Ether (ETH) to the Euler Finance deployer account on March 27, on-chain data shows.Another 13M for ze Euler team 20M dai left in the wallet that sent this over Let’s get it— DCF GOD (@dcfgod) March 27, 2023 At 6:21 p.m. UTC, an address associated with the attacker sent 7,738.05 ETH (worth

CFTC calls ETH a commodity in Binance suit, highlighting the complexity of classification

[ad_1] The United States Commodity Futures Trading Commission (CFTC) filed suit against Binance on March 27 for violations of the Commodities Exchange Act and CFTC regulations. Those violations included transactions with Ether (ETH), according to the suit. This claim, at first glance, touched on a notable point of contention between the CFTC and the Securities and Exchange Commission (SEC). The CFTC claimed in its suit that Binance engaged in transactions with

Ted Cruz and Ron DeSantis take on the ‘digital dollar’: Law Decoded, March 20–27

[ad_1] Two lawmakers in one week weighed in against the possibility of a United States central bank digital currency (CBDC). Florida Governor Ron DeSantis — expected by many to throw his hat into the ring for the 2024 U.S. presidential race — has called for a ban on a digital dollar in the state. DeSantis spoke out against the Federal Reserve issuing and controlling a CBDC, claiming the initiative would

An overview of fake product detection using blockchain technology

[ad_1] Digital identities can help in fake product detection by providing a unique and verifiable identity to each product, making it easier to track its movements through the supply chain and verify its authenticity, thereby preventing the circulation of fake products. In the modern era of e-commerce, the problem of fake products is prevalent, and it poses significant risks to both consumers and manufacturers. However, digital identities can play a

Crypto market rally stalls at the $1.2T level, but bulls are getting positioned

[ad_1] After gaining 11% between March 16 and March 18, the total crypto market capitalization has been battling resistance at the $1.2 trillion level. This same level was reached on August 14, 2022 and was followed by a 19.7% decline to $960 billion over the next two weeks. During the lateralization period between March 20 and March 27, Bitcoin (BTC) gained 0.3%, while Ether (ETH) posted modest gains of 1.6%.Total

Traditional finance fears drive digital asset investment inflows to $160M

[ad_1] On March 27, European cryptocurrency investment firm CoinShares published its “Digital Asset Fund Flows Report,” which revealed that digital assets continue to attract investors' attention as concerns over the stability of traditional finance (TradFi) continues to grow. According to the latest report, investment products in digital assets experienced inflows of $160 million last week, the largest since July 2022, marking a significant reversal after six weeks of outflows totaling $408 million.

‘sell the news’ moment nears after crypto-leading 20% weekly gain

[ad_1] XRP (XRP) price is currently outperforming all other major cryptocurrencies as of March 27, rising over 20% in the past seven days.XRP/USD daily price chart. Source: TradingViewXRP accumulation ahead of SEC vs. Ripple rulingXRP has seen steady gains over the past seven days as the ongoing legal quandary between Ripple and the U.S. Securities and Exchange Commission (SEC) is expected to conclude by the end of March.Meanwhile, the supply of

Binance and CZ sued by CFTC over US regulatory violations

[ad_1] The United States Commodity Futures Trading Commission (CFTC) has filed suit against Binance and CEO Changpeng Zhao (CZ) for trading violations, according to a Bloomberg report. The suit was filed in the U.S. District Court for the Northern District of Illinois.According to the CFTC, Binance failed to meet its regulatory obligations by not properly registering with the derivatives regulator. The cryptocurrency exchange has been the focus of a CFTC investigation