NFT News by Thebittimes.Com

The co -founder s of Opyn stepped down as their defi options protocol faced charges from the Commodity Futures Trading Commission (CFTC) in September. CEO Zubin Koticha revealed today in an X post that he and co -founder Alexis Gauba have chosen to exit crypto, attributing their decision to the recent regulatory actions faced by Opyn. Hey Crypto Twitter, It's been a while This one's a tough one… After the regulatory action against Opyn, @alexisgauba and I have made the decision that we are leaving crypto. This is honestly really emotional for me and Alexis. — zubin koticha (@snarkyzk) November 14, 2023 Opyn is a defi investment strategy platform with $20 million in total volume locked (TVL) on its protocol. In September, the CFTC brought charges against Opyn and two other defi entities, citing several violations. These included registration failures, the absence of a customer identification program, and the unlawful offering of leveraged and margined retail...

Coin Metrics co -founder Nic Carter says Bitcoin hasn’t flipped Visa regarding annual transaction volume, referring to incorrect data aggregated by on-chain firms. Bitcoin (BTC) is not even close to those transaction volume levels that Visa deals with. At least that’s what Nic Carter, a partner at Castle Island Ventures and the co -founder of Coin Metrics, said in a recent post on X. The Coin Metrics co -founder said that Bitcoin on-chain value declined significantly in 2023. He noted that the network’s annual volume has not grown since 2021. Bitcoin’s annual volume compared to other financial systems | Source: X As per his calculations, BTC’s 2023 adjusted volumes are “annualizing at $3.1 billion,” which is one-fourth of Visa’s annual volumes. Carter says any claims to the contrary are based on “poorly adjusted measures of BTC on-chain settlement value.” “If you don’t strip out a lot of spurious chu...

Despite looting $41 million in cryptos, Stake co -founder Ed Craven said the hackers did not compromise private user info or access customer funds during the attack. Edward Craven, co -founder of crypto casino Stake, published preliminary findings from a Sept. 4 incident that the Federal Bureau of Investigation (FBI) says was masterminded by North Korean hackers. Craven wrote in a Medium blog post that the attacker targeted Stake’s ETH/BSC hot wallets. The sports betting platform uses these internet-linked wallets for daily transactions and large customer payouts, according to Craven. Stake’s security team stemmed the unauthorized transactions in four hours, but not before hackers siphoned $41 million in cryptocurrencies.  The exploiters withdrew their booty via Ethereum (ETH), Binance Smart Chain, and Polygon (MATIC). Funds from the attack were later bridged to Bitcoin’s blockchain through a basket of addresses. Craven noted that user info and private customer details were ne...