NEWS | Goblin Crypto

Harmony Users Lose Hundreds of Millions in Value as Network’s Stablecoins Depeg After $100 Million Hack

06/24/2022 2:00 pm 06/24/2022 7:05 pm

Stablecoins on the Harmony Network de-pegged on Friday in the wake of the project’s $100 million hack, resulting in an overnight loss of hundreds of millions of dollars for the network’s users. As of early afternoon, they were trading at roughly 30 cents on the dollar. In layman’s terms, that means users who held stablecoins — which typically represent $1 — on the network experienced a loss of 70 percent over the first half of …

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Cam Girls Lament Crypto’s Fall, Say it’s to Blame for Plummeting Pay

06/23/2022 5:00 pm 06/24/2022 12:31 am

Virtual sex workers say they’re feeling the pinch of bitcoin’s declining price. “I’ve been seeing lots of girls saying just recently how REALLY bad camming is when it comes to making money as of very recent,” one member of the industry wrote in a June 17 thread on the Reddit forum “CamGirlProblems.” The author, who went by the screen name “Mika_xo,” said she worked for one “cam” website — where users pay to watch and …

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Ontario Securities Commission Bans KuCoin, Fines Bybit for Failing to Register with Financial Regulators

06/22/2022 1:00 pm 06/22/2022 7:51 pm

The Ontario Securities Commission (OSC) announced enforcement actions on Wednesday against two of the world’s most popular cryptocurrency exchanges, fining both of them and banning one of them for failing to register with financial regulators. The commission said Bybit Fintech Limited — or Bybit — forked over more than $2.5 million “and committed to engaging in registration discussions.” It also said it had obtained a court order banning KuCoin while demanding it pay more than …

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United Kingdom Sticks it to the European Union, United States; Will Not Require Companies to Help Them Spy on Unhosted Wallets

06/20/2022 5:00 pm 06/20/2022 10:23 pm

United Kingdom officials announced Monday that they would not require cryptocurrency providers to aid them in finding personal details on the owners of unhosted wallets. “The government has modified its proposals with regard to unhosted wallets,” Treasury officials said in a document on rules related to “money laundering, terrorist financing and transfer of funds.” The document said regulators did not “agree that unhosted wallet transactions should automatically be viewed as higher risk,” noting, “many persons …

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Never Mind! Solend Looks to Reverse Vote Liquidating $278 Million Wallet After Price of Solana Rises

06/20/2022 12:00 pm 07/25/2022 5:26 am

The Solend Protocol on Monday reversed a vote to liquidate its largest user, with developers saying they had been “listening” to “criticisms” of the proposal. The protocol took a hastily-conducted vote on Sunday — through a decentralized autonomous organization (DAO) formed on Saturday — to liquidate the user, who holds a $108 million loan through the protocol backed by $170 million in collateral. The loan isn’t set for liquidation until Solana drops to a price …

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