MakerDAO to Invest $500 million in US Govt Bonds - Top Crypto Updates

MakerDAO to invest $500 million in US Govt Bonds

MakerDAO will invest $500 million in short-term US treasury bonds and investment-grade corporate bonds. The plan (approved by MakerDAO members in a community-wide vote) will see $400 million of the organization’s asset reserves put towards US treasury bonds and $100 million invested in corporate bonds. MakerDAO is the world’s largest decentralized finance (DeFi) lending protocol,

Crypto prices today: Bitcoin down 1.5%, ETH falls 1%

Bitcoin is currently trading at $19,917.56, a decline of 1.47% over the previous day. Ethereum is down 0.92% over the last 24 hours to $1,353.86. Solana fell 2.02% to $33.31, while Cardano is trading lower by 1.36% at $0.427. Avalanche (AVAX) fell 1.87% to $17.06. The global crypto market cap stands at $955.38 billion, a 1.2% decline over the previous day.

Europe bans all crypto wallet services to Russia in new sanctions package

The European Union has placed a blanket ban on all crypto services to Russian entities as part of its eighth round of sanctions against the country. The existing prohibitions on crypto assets have been tightened by banning all crypto-asset wallets, accounts, or custody services. The increased measures are intended as punishment for “Russia’s continued escalation and illegal war against Ukraine”.

BNB Smart Chain resumes operations after $100M exploit

The BNB Smart Chain (BSC) resumed operations as chain validators adopted a software update that would close the exploit used by hackers to drain funds off-chain. BSC includes BNB Beacon Chain and BNB Smart Chain (BSC). The BSC chain was halted earlier today after an exploit was discovered that drained $100 million in crypto from the platform.

ZebPay seeking license in Singapore

Indian crypto exchange Zebpay has applied for a license in Singapore. It is also assessing the potential of a similar step in the United Arab Emirates. While the company will retain its focus on India, the 1% transaction tax the nation imposed on crypto this year is hurting trading volumes. Daily volumes at key India-based platforms are down over 90% since the transaction levy took effect in July.