Everything web3, crypto, defi, degen
In brief Decentralized exchange BunniXYZ has reportedly lost $8.4 million to a liquidity-based security exploit. The DEX has paused all smart contract activity on its network and is “actively investigating” the attack. Hackers reportedly manipulated Bunni’s “liquidity curve,” also known as its LDF, to carry out the exploit. Decentralized exchange (DEX) BunniXYZ has reportedly lost…
In brief A coalition of 114 crypto companies and tech lobbying groups sent a letter to the Senate Banking Committee demanding strong legal protections for software developers in any upcoming crypto market structure bill. The letter emphasized that developers of decentralized software should not face criminal liability for how others use their programs, comparing public…
In brief Powerful crypto companies including Coinbase, DCG, Kraken and Paradigm are teaming up with top lobbyists to introduce a new nonprofit focused on educating policymakers about decentralized technologies. As a 501(c)(3), the American Innovation Project (AIP) will enjoy key benefits including tax exempt status and limited liability for operators and participants. By law, however,…
The momentum has shifted in the yearslong battle between top crypto companies and protocols and the U.S. Securities and Exchange Commission under the new Trump administration. The regulator, which now has a crypto-friendly chairman in Paul Atkins and a crypto task force led by longtime industry advocate Hester Peirce, is moving away from what Pierce and…
In brief Andreessen Horowitz and the DeFi Education Fund have requested the SEC create a safe harbor to shield dapp developers from being labeled broker-dealers. The recommendations would enable certain centralized entities retaining control over a crypto app to gain safe harbor if they have demonstrated “good faith to decentralize.” The proposal follows SEC chair…
In brief The Uniswap Foundation published a proposal for Uniswap Governance to become a Wyoming Decentralized Unincorporated Nonprofit Association (DUNA). The Cowboy State enacted the legal framework for DAOs last year. It would allow Uniswap Governance to operate with greater legal clarity, Uniswap Foundation General Counsel Brian Nistler said. The Uniswap Foundation published a proposal…
