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US Files First Criminal Charges Against Smart Contract Hacker
The United States Department of Justice (DoJ) has filed the first criminal charges against Shakeeb Ahmed for an attack on an undisclosed smart contract-controlled decentralized exchange (DEX) platform, potentially Solana-based protocol Crema Finance. 
This decentralized protocol has suffered a loss of nearly $455,000 owing to a flaw in its code. All activities relating to contracts have been put on hold for now.
A blockchain analyst from PeckShield explains this predicament as a result of inadequate input verification within Arcadia's code, a loophole the hacker exploited to drain crypto assets (darcWETH and darcUSDC) in both the Ethereum and Optimism networks. Introducing a New Solution for DeFi Protocol Protection
In a bid to shield the Decentralized Finance (DeFi) ecosystem from security breaches, a collective of Ethereum enthusiasts has put forward a novel standard named ERC 7265. The standard would integrate a "circuit breaker" functionality into DeFi smart contracts, empowering them to promptly halt token transactions in the face of a hack or security anomaly. 
TradFi Players Launch Their Own Crypto Platforms
Acknowledging the investment risks associated with largely unregulated crypto companies, titans of the traditional finance (TradFi) industry have made the strategic decision to enter the crypto market, launching their own platforms for digital assets. The Rise of a New Crypto Banking System
Global banking is gradually veering towards cryptocurrency. This is in many ways a compelled pivot, given the financial sector's transition from a state of denial and resentment to negotiation, ultimately leading to acceptance. Could this be the heralding of traditional finance's demise? Sustainable Energy and Crypto: Is There a Shared Future?
The progress of renewable energy could gain a considerable boost from cryptocurrency miners' efforts. But how can we curb excessive power usage in mining while enhancing its sustainability? First, we need to understand the term "sustainable", which has broader implications especially when related to manufacturing, economics, and finance. FXS Token Buyback Proposal Gets Founder's Nod
Cryptocurrency research firm, Ouroboros Capital, has proposed a more dynamic token buyback strategy that has piqued the interest of Frax Finance's founder, Sam Kazemian. The proposal aims to better leverage price fluctuations in the Frax Share (FXS) token to optimize the efficiency of the current buyback and burn campaign. How Traditional Finance Embraces Digital Currencies
The use of digital currencies by the conventional banking system poses a complex question: to adopt or not to adopt? On one hand, there's a compelling urge to stay trendy and be perceived as innovators, but on the other, it presents considerable risks for the banking system and its consumers. 
WOO Network Unleashed: Transform Finance with WOO Coin!
WOO Network operates at the intersection of DeFi and CeFi, striving to offer liquidity, fast execution, and low fees. It has a market cap of $361M and a supply of 3 billion WOO tokens, and users can engage in staking and yield farming with WOO tokens. Dive into the WOO Network review. German Regulator Denies Crypto Custody License to Binance
The German financial regulator, BaFin, has reportedly denied a crypto custody license to Binance. The decision was reported by Finance Forward, citing sources familiar with the matter. It remains unclear whether the denial was a formal decision or part of ongoing discussions between Binance and BaFin. 
ETH is neither a security nor a commodity?
Ethereum's cryptocurrency, ether (ETH), may soon see a redefinition of its regulatory classification, according to a group of strategists from the finance giant JPMorgan. These strategists, led by Nikolaos Panigirtzoglou, indicate in a recent statement that U.S. Ripple vs. SEC: New Evidence Tips the Scale in Ripple's Favor
Recent documents have been disclosed in relation to William Hinman, the former director of the U.S. Securities and Exchange Commission (SEC)’s Division of Corporation Finance from 2017 to 2020, pertaining to the ongoing SEC lawsuit against Ripple Labs. Brian Armstrong: 8 Regions Set to Lead Crypto, Excluding the US
Brian Armstrong recently put forth his perspective on the future of the cryptocurrency market. America's position as a world leader in finance and innovation is in jeopardy. The reason is straightforward: a failure to understand that cryptocurrencies represent much more than just individual transactions.