Notes 3/31: Tether Attestation Report, Stablecoins as Free Banking, and The Banality of Another DeFi Hack

Tether, the algorithmic stablecoin that straddles all of crypto, released an attestation report for its second quarter this morning. As usual, it is a sham and a mishmash of meaningless statistics and assertions. The report does not provide much clarity about its finances though it does bring to light some of the underlying risks. According… Read More Notes 3/31: Tether Attestation Report, Stablecoins as Free Banking, and The Banality of Another DeFi Hack

Hackers Make Off With $620 Million Worth of Crypto From Ethereum Sidechain

Another day. Another crypto hack. This one involves non-fungible tokens, which exploded in popularity last year. And it has brought free publicity to the NFT developer. One hundred and seventy-three thousand and six hundred thousand Wrapped Ether (a derivative of Ethereum’s native cryptocurrency) and 25.5 million of stablecoin USDC were stolen after validator nodes (nodes… Read More Hackers Make Off With $620 Million Worth of Crypto From Ethereum Sidechain