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Crypto This Week – Week 35

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CREAM Finance, the DeFi lending protocol, fell victim to hackers and lost over $30m. The attackers exploited the “flash loan” feature, siphoning off 1,300 ETH, 418m AMP and a few other tokens. Our guess: they got creamed.

Stablecoin top dog, Tether (USDT), filed an Article 78 proceeding with the supreme court of New York to block the release of certain documents related to their recent settlement with the New York Attorney General. On twitter, they claimed it was “to prevent the release of proprietary, competitively sensitive information to parties outside their business”. They can run, but better yet, can they hide too?

Winner winner chicken dinner! KILT, an open-source blockchain protocol for issuing self-sovereign, verifiable and anonymous credentials, raised over 220,000 KSM through its crowdloan, putting it miles ahead of the other parachain contestants.

Slovenia is looking to tax certain crypto-related trades. The country’s tax authorities have proposed a change that would impose a 10% tax for converting crypto to fiat or spending crypto on goods.

The SEC filed an action against crypto-lending platform BitConnect and its founder, Satish Kumbhani, alleging that they defrauded retail investors out of $2bn.

As the altcoin market keeps revving, Solana rockets to new highs of $131, bringing its total market cap to $40bn.


Let’s feed the birds – Twitter is testing a function that would enable users to tip creators with bitcoin thanks to the Lightning Network.

Get based! Baseledger, an open source project developed by Unibright (UBT) and Provide, went live this week on testnet. Partnerships with Coke North America, Microsoft and Consensys could mean this project has significant potential

Energy Web ($EWT) and Microsoft have partnered with the Australian Energy Market Operator to develop an operating system for a distributed-energy marketplace.

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