A vulnerability in inter-blockchain communication (IBC) protocol that was patched in April reared its bugly head on the Terra blockchain, late Tuesday. Onchain data showed an erroneous minting of 58 million ASTRO tokens — worth about $2.7 million — and about $4.1 million in USDC, USDT and wrapped BTC. Terra conducted an emergency chain upgrade to
Today, enjoy the On the Margin newsletter on Blockworks.co. Tomorrow, get the news delivered directly to your inbox. Subscribe to the On the Margin newsletter . Welcome to the On the Margin Newsletter, brought to you by Ben Strack and Casey Wagner. Here’s what you’ll find in today’s edition: Breaking down what to expect (and
On Wednesday, Federal Open Market Committee members opted to hold interest rates steady. This marks their eighth pause since consistently raising interest rates from March 2022 to July 2023. Stocks showed little immediate change, holding onto gains made earlier in the session. At the time of publication, the S&P 500 and Nasdaq Composite indexes were
Today, enjoy the Lightspeed newsletter on Blockworks.co. Tomorrow, get the news delivered directly to your inbox. Subscribe to the Lightspeed newsletter . Howdy! Last night, I went to my third Mets game of the season, and I was unfortunate enough to spot Grimace, the big, terrifying purple lump that’s become the team’s unofficial mascot during
Cryptocurrencies sharply tumbled on Wednesday as rising geopolitical risks captivated investors’ attention after the conclusion of the July Federal Reserve meeting. Bitcoin (BTC) dropped to $64,500 from around the $66,500 level where it traded following Federal Reserve Chair Jerome Powell’s press conference, and was down more than 2% over the past 24 hours. Altcoin majors
Tether has just released its attestation report for Q2 2024, declaring a $5.2 billion profit for the first half of 2024. In Q2 of 2024, Tether generated a net operating profit of $1.3 billion, compared to Q1’s earnings of $4.52 billion, per the report. Tether’s net equity worth also increased by $520 million to $11.9
Last week’s Bitcoin Nashville conference dominated crypto news headlines – largely due to former U.S. President Donald Trump’s campaign speech (and lots of promises) as well as Senator Cynthia Lummis’s call for a national “Bitcoin Strategic Reserve.” (We’ve got the draft legislation .) We wandered around the event for four days while scrambling to cover
A nice thing about watching Olympic swimming is that it’s not too complicated to determine who’s the fastest. Everyone dives into the same pool, there’s some paddling, and at the end of the final lap, one person touches the wall first. The same can’t be said for blockchains, where engineers are always releasing ever more
The stablecoin issuer reported $5.2 billion profit in the first half of 2024. Its U.S. debt holdings amounted to $97.6 billion, surpassing countries including Germany. 01:53 161 Letters of Support for Binance’s CZ; Tether’s Latest $200M Investment 01:11 Why USDT Dominates Supply With Lower Transaction Volume 02:26 DOJ Wants CZ to Serve 3 Years in
The Fed held policy steady, as expected, but the policy statement was more hawkish than most anticipated. At his post-meeting press conference, Chairman Jerome Powell indicated the central bank was “moving closer” to the point where it might cut rates. As expected, the U.S. Federal Reserve left its benchmark fed funds rate range unchanged at