Sky co-founder Rune Christensen told Decrypt that Solana support "marks the beginning of a new multi-chain era for USDS."

The Ethereum Foundation sold 100 ETH for DAI, marking its first ETH sale since releasing its annual report. The sale is part of the foundation's strategy to fund public projects and maintain its financial reserves.

The Ethereum Foundation makes another DAI purchase by offloading 100 ETH on Nov. 12. This is the first time the protocol has sold ETH since releasing its annual report.

The SEC has settled the allegations and ordered a combined penalty of $700,000. The lawsuit was filed at the U.S. District Court for the Northern District of California.

TrustToken and TrueCoin, the entities behind the TrueUSD (TUSD) stablecoin, last week reached a settlement with the US Securities and Exchange Commission (SEC) over allegations of fraudulent and unregistered sales of investment contracts. The companies have agreed to pay a combined total of $700,000 in penalties and disgorgement without admitting or denying the SEC's findings.

The SEC accused TrustToken and TrueCoin of investing 99% of the reserves backing TUSD in a risky fund with redemption issues.

The SEC settled charges against TrueCoin and TrustToken for fraudulently marketing the TrueUSD stablecoin as fully backed by U.S. dollars.

Federal securities regulators have reached an agreement with TrueUSD (TUSD) issuer TrueCoin and lending protocol operator TrustToken to settle charges for the alleged and fraudulent sale of unregistered investment contracts.

Curve Finance proposed the complete removal of TUSD from the crvUSD ecosystem after the US SEC charged TrueCoin with investor fraud. In addition, the DEX proposed reducing the overreliance on PayPal's pyUSD as collateral.

The proposal suggests reducing TUSD's collateral backing to zero, effectively ending its support for crvUSD if approved.

TL;DR Proposal to Remove TUSD: Curve Finance is considering removing TrueUSD (TUSD) from crvUSD's collateral due to regulatory issues and concerns about TUSD's stability. Limiting PYUSD: The proposal also suggests reducing the minting capacity of crvUSD with PayPal's PYUSD from $15 million to $5 million to diversify and secure the collateral portfolio.

Curve Finance's potential removal of TUSD as collateral underscores the DeFi sector's need for robust risk management and regulatory adaptability. The post Curve Finance considers dropping TrueUSD from crvUSD collateral appeared first on Crypto Briefing.

“crvUSD is overexposed to minor stablecoins, especially TUSD which has a dubious track record and has recently been charged by the SEC with defrauding investors,” the proposer wrote.

DEX Curve Finance is assessing a proposal to lessen its dependence on TUSD stablecoin after the US SEC dropped charges against issuers Truecoin and Trusttoken. The regulator alleged that the entities violated securities policies by using risky offshore funds to back 99% of TrueUSD's reserves, raising worries about the crvUSD's stability.

TrueCoin and TrustToken, the companies responsible for the TrueUSD (TUSD) stablecoin, have reached a settlement with the Securities and Exchange Commission (SEC) following allegations of misconduct.

Curve Finance is evaluating a proposal to reduce its reliance on the stablecoin TUSD following the resolution of U.S. Securities and Exchange Commission (SEC) charges against Trusttoken Inc. and Truecoin LLC, the companies behind the dollar-pegged token.

The regulator alleged TUSD was 99% backed by a risky offshore fund, raising concerns about using TUSD to back Curve's stablecoin.

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TL;DR Fraudulent Claims: TrustToken and TrueCoin falsely marketed TrueUSD (TUSD) as fully backed by U.S. dollars while investing in a risky offshore fund. SEC Settlement: Both companies agreed to pay $163,766 each in civil penalties, with TrueCoin also paying $340,930 in disgorgement and $31,538 in interest.

US SEC and crypto firms TrueToken and TrueCoin have arrived at an agreement to settle charges. The two companies faced charges from the regulator regarding the issuance of stablecoin TUSD.

The firms behind TrueUSD, a USD-pegged stablecoin, have been charged by the U.S. Securities and Exchange Commission.

The US Securities and Exchange Commission (SEC) has settled with TrueCoin and TrustToken, the companies behind TrueUSD stablecoin, for $700,000.

The U.S. Securities and Exchange Commission (SEC) announced settled charges against crypto companies Trusttoken Inc. and Truecoin LLC. The charges allege fraudulent misrepresentations and unregistered sales of investment contracts related to the stablecoin trueusd (TUSD). U.S.

On Tuesday, the Securities and Exchange Commission (SEC) disclosed that TrueCoin LLC and TrustToken Inc., the parties behind the TrueUSD (TUSD) stablecoin, improperly invested nearly all their reserves in a speculative offshore fund. This revelation led to a settlement of charges against the companies for fraudulent and unregistered sales of investment contracts.

The US Securities and Exchange Commission (SEC) has charged TrueCoin and TrustToken with fraudulent and unregistered sales of investment contracts involving the TrueUSD (TUSD) stablecoin, and lying about its backing, according to a Sept. 24 statement.

In a significant development in the cryptocurrency regulatory landscape, TrueCoin LLC and TrustToken Inc., the companies behind the TrueUSD (TUSD), have reached a settlement with the United States Securities and Exchange Commission (SEC) over allegations of fraud and unregistered sales of investment contracts.

The securities regulator claims the token is undercollateralized and its backing funds are in a risky overseas investment.

The U.S. SEC said it reached a settlement with TrueCoin LLC and TrustToken Inc., following charges involving the sale of stablecoin TrueUSD.

The US Securities and Exchange Commission (SEC) has announced charges settlement with TrustToken, the issuer of the TrueUSD stablecoin. TrustToken and TrueCoin were both named in the settlement as the markets regulator said they offer unregistered securities to investors.

The Securities and Exchange Commission announced a settlement with TrustToken and TrueCoin for defrauding investors regarding TrueUSD.

TrueCoin LLC and TrustToken Inc. were charged with fraudulent and unregistered sales of investment contracts over TrueUSD.

Rune Christensen, co-founder of the decentralized finance platform Maker (MKR), has clarified that while the upcoming stablecoin rebrand will introduce a freeze function, it will not be applied to the existing DAI stablecoin.

Household DeFi protocol Maker replaced its decentralized DAI stablecoin with centralized USDS as it rebranded to Sky. Users are not happy.

The co-founder of decentralized finance (DeFi) platform Maker (MKR) says that the rebrand of its stablecoin will have a freeze function but that DAI will continue to operate normally.

Tether's spike in wallet creation, along with Dai's growth, points to a potential crypto market revival driven by new capital.

Just a day after MakerDAO rebranded to Sky, the community has been debating the implications of the new freeze function. MakerDAO co-founder Rune Christensen steps in to provide clarity.

Maker Protocol, the DeFi lending platform, has officially rebranded itself as Sky and introduced a new suite of upgrades.

DAI holders will be able to upgrade to USDS 1:1, while MKR holders can convert to SKY at a 1:24,000 ratio.

Maker DAO reveals details of its major rebrand.

The attack highlights significant security risks in the DeFi space and underscores the need for heightened vigilance among Web3 users. The phishing incident unfolded when the attacker tricked the user into reassigning ownership of their DeFi Saver Proxy contract.

Decentralized blockchain protocol MakerDAO has announced an upgrade for DAI and MKR tokens. The platform released two new assets, NewStable and NewGovToken which will exist alongside DAI and MKR.

TL;DR MakerDAO launches the NewStable and NewGovToken, while maintaining the availability of the current DAI and MKR tokens. NewStable will replace DAI for new transactions at a 1:1 conversion rate, while DAI will continue to be used for specific applications.

New MakerDAO tokens have been introduced, while DAI and MKR will remain available.

A recent phishing attack targeting a prominent crypto whale has resulted in the theft of approximately $55 million worth of Dai tokens, drawing attention to the growing sophistication and frequency of cyberattacks within the Web3 ecosystem.

A Maker Vault was exploited via a compromised EOA, allowing the attacker to take control and target the Dai stablecoin.

A whale address lost 55.47 million DAI stablecoins. CertiK Alert observed the attacker had accessed externally owned accounts (EOA) using Inferno Drainer.

A crypto whale lost more than $55 million in DAI on Tuesday after signing an unverified transaction. This latest cautionary tale has reminded crypto holders of the dangers in the digital assets industry.

This incident represents a broader trend of rising numbers of attacks in the DeFi ecosystem.