Crypto news for the week of August 25, 2024: Coin Hebdo #157
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Telegram Founder Officially Charged in France, Placed Under Judicial Surveillance
Pavel Durovfounder and CEO of Telegramwas officially indicted in France and placed under judicial supervision after his police custody.
Accused of six serious offenceswhose complicity in the dissemination of child pornography images and the drug trafficking facilitated through its platform, Durov had to pay a deposit of 5 million euros and must report to the police station twice a week.
The case marks a turning point for Telegram, which is known for its cryptography and his confidentialityas authorities seek to strengthen regulation of digital platforms.
Mr Durov quietly left the courthouse, and His lawyer strongly contests the accusations against him. Furthermore, Mr Durov cannot leave French territory.
Toncoin: The TON network goes down twice in 48 hours with a maximum of 280 TPS at peak load
There blockchain TON suffered two major failures in 48 hourscaused by an overload due to the token DOGSraising doubts about the robustness of the network with a disappointing peak of only 280 TPS against the theoretical 55,000 TPS.
This incident resulted in the temporary suspension of deposits and withdrawals in YOUR on some platforms, such as Bybitto protect users from financial risks.
MakerDAO Rebrands to Sky with Launch of New Stablecoin and Governance Token
MakerDAO reinvents itself under the name of Sky with a major transformation that includes the launch of two new tokens on September 18 : the stablecoin USDS and the governance token SKYin addition to existing tokens DAI And MKR.
It is important to note that this conversion is optional, leaving holders the choice to keep their old tokens or adopt the new ones.
This overhaul is part of the ambitious project โEndgameโ, aimed at expanding Skyโs influence in the Challenge through a new application Sky.money and decentralization into independent entities called Stars : sub-DAOs which will each have their own tokens and specific functions
Sky.money: a new user interface
One of the key elements of this transformation is the creation of Sky.moneya new one DeFi application which will serve as a gateway to interact with the protocol. This application is designed to provide an enhanced user experience, while allowing holders of the new tokens to benefit from native rewards. However, due to regulatory restrictions, some jurisdictions, including the United States and the United Kingdom, will not be able to access this reward feature.
MakerDAO, rebranded Sky, disappoints DeFi with freeze feature on its new USDS stablecoin
MakerDAOnow renamed Skyhas raised concerns in the community Challenge with the launch of its new stablecoin USDSwhich integrates a function of asset freeze.
This functionality, reminiscent of those of centralized stablecoins like USDC And USDTis seen as a betrayal of the principles of decentralization who made the reputation of DAI.
Faced with criticism, the co-founder Rune Christensen clarified that this feature would not be enabled at launch and that DAI would continue to exist unchanged, while raising the possibility of a fully decentralized DAI in the future, called PureDAI.
Solana Daily Fees Are Plummeting: Is Memecoin Hype Over?
THE daily transaction fees on the network Solana have fallen 65% since their August peak, falling to $639,000a level well below the historic peak of $5.08 million in March.
This significant drop is linked to the weakening of the craze for memecoins on Solana, whose market capitalization and the Total Value Locked (TVL) on DEXs continue to decline. The decrease in user activity could mark the end of the hype memecoins on this blockchain, reminiscent of the previous decline in the memecoin market NFT.
SEC Classifies NFTs as Securities, Set to Sue OpenSea
OpenSeathe largest marketplace in NFTfaces potential coercive action from the DRY after receiving a Wells Noticea warning that could lead to the reclassification of the NFT in securities.
OpenSea CEO, Devin Finzerexpresses his surprise and fears a threat to the creative freedom.
OpenSea is preparing a robust defense, setting up a $5 million fund to support affected creators. This case could redefine the boundaries between digital art And financial productsthus becoming a major legal precedent for the ecosystem of NFT.
Donald Trump Launches New NFT Collection With Prices Ranging From $99 To $24,750
Donald Trump launched a Fourth NFT Card Collectionwith prices ranging from $99 to $24,750offering exclusive items like Trump sneakers and dinners with the former president.
The funds generated are not intended for his presidential campaign, but go directly to his personal walletswith Trump having already amassed over $1 million from his NFT activities. The move is aimed at appealing to a young, tech-savvy electorate while diversifying his revenue streams.
EigenLayer's EigenDA now supports restaking of native layer 2 tokens
OwnLayer now extends the restaking to native tokens of layer 2 via its protocol EigenDAin addition to theETH and of theEIGEN.
EigenDA, a key protocol of data availability on EigenLayer, allows different Layer 2 or Layer 3 to create quorums customized to secure on-chain data storage and access, while providing new economic opportunities for holders of these tokens.
This development reinforces the security rollup users and positions EigenDA as a central player for rollup solutions scalability on Ethereum in direct competition with Celestia & Avail on this same narrative.
Similar news : EigenLayer set to offer permissionless integration of any erc-20 token
News in brief
- Shiba Inu Team Set to Launch DAO Controlled by SHIB Holders
- Series of DDoS attacks target French sites after arrest of Telegram founder
- Aave Labs proposes to integrate BlackRock's tokenized fund, BUIDL, with its stablecoin GHO
- BTC: Nasdaq files application for listing and trading of Bitcoin options
- ChatGPT creator OpenAI raises funding at over $100 billion valuation
- Donald Trump wants to make the US the capital of crypto, promoting a DeFi project
The article Crypto news of the week of August 25, 2024: Coin Hebdo #157 appeared first on Coin Academy