• Platypus Finance, a DeFi protocol for stablecoins was hacked last week for $9 million. • The protocol managed to recover a portion of the funds and will repay at least 63% of users’ funds. • Platypus worked with crypto exchange Binance to identify the hacker and has contacted law enforcement. Platypus Finance Hack Platypus…
• TRU, the governance token of decentralized lending protocol TrueFi, surged 220% on Thursday. • The surge appears to be due to traders mistakenly connecting it with TUSD, a stablecoin that was previously issued by TrueFi but is no longer affiliated with them. • Binance minted $50 million of TrueUSD (TUSD) stablecoin which sparked speculation…
• The U.S. Securities and Exchange Commission (SEC) has reportedly reached a $30 million settlement with cryptocurrency exchange Kraken over accusations of unregistered securities and staking services to U.S. customers. • As part of the settlement, Kraken will immediately end its crypto staking-as-a-service platform for U.S. customers and pay the SEC $30 million in fines….
• Bittrex, a Seattle-based cryptocurrency exchange, is laying off more than 80 employees due to the “new economic environment”. • Many other exchanges have announced layoffs due to sharp declines in cryptocurrency prices and the collapse of prominent crypto firms. • CoinDesk estimates that over 29,000 jobs have been lost across the crypto industry since…