The path to mainstream crypto adoption runs through more visible, controllable product design, executives from PayPal, Robinhood, Public.com and 248 Ventures told CoinDesk’s Consensus Miami conference Tuesday. “It’s important to tell users with AI products what the underlying system is not doing in addition to what it is doing,” Public.com CFO Sruthi Lanka said. Public…
Kelp DAO claims that LayerZero personnel approved the 1-of-1 verifier setup, a decision LayerZero has since cited as the reason a North Korea-linked attacker drained roughly $292 million from Kelp’s rsETH bridge. The claim runs counter to LayerZero’s April 19 postmortem, which said Kelp’s rsETH application relied on LayerZero Labs as its sole verifier and…
Drift Protocol announced Tuesday the implementation of a recovery plan for users affected by a $295 million exploit on April 1, which it attributed to the North Korea state-backed DPRK hacking group identified by forensic firm Mandiant. The attack led the protocol to suspend trading and borrowing immediately after the exploit. Drift said “the majority…
Congressman Steven Horsford told CoinDesk’s Consensus Miami conference Tuesday that his bipartisan PARITY Act is an incremental path forward in a Congress where Senate market-structure negotiations have stalled. “PARITY is designed to set a durable floor, not to be the last word,” he said, noting that existing problems need to be resolved “clearly within the…
Figure Technology Solutions (FIGR), the blockchain firm helmed by former SoFi CEO Mike Cagney, is planning on taking on Fannie Mae and Freddie Mac in first-lien mortgages. Speaking at Consensus Miami, Cagney cited origination costs of $1,000 on the firm’s blockchain platform against $11,000 through the GSEs, the federally chartered firms that buy mortgages from…
Miami Beach, FL — A growing group of Wall Street and crypto executives say the financial system is heading toward a breaking point, as markets shift from human-paced processes to machine-driven activity that runs around the clock. “We’re moving to a world where transactions happen at a speed no human can track,” Sandy Kaul, head…
Coinbase said Tuesday it had chosen Centrifuge as its preferred tokenization infrastructure and made a strategic investment in the firm. Under the deal, Centrifuge is positioned to serve as the default issuance layer for tokenized assets across Coinbase’s ecosystem, including products on Base. The first wave of institutional assets is expected to launch on Base…
MIAMI BEACH, Fla. — CoinDesk’s flagship Consensus conference kicks off today at the Miami Beach Convention Center, bringing thousands of people together for the annual big-tent event to discuss the digital assets sector. Day one of the conference will see local officials and startup executives lay out the state of the crypto world. Arthur Hayes,…
Standard Chartered PLC’s (STAN) venture capital division SC Ventures invested in GSR, as the London-based multinational bank seeks to further expand its digital asset services, the crypto capital market’s firm announced Tuesday. The investment agreement, which according to Bloomberg was $150 million at a valuation of more than $1 billion, is the first external stake…
Bullish (BLSH), CoinDesk’s parent company, has agreed to acquire transfer agent and shareholder services firm Equiniti in a $4.2 billion deal that would fold a core piece of traditional market infrastructure into its digital asset platform, expanding its push into tokenized securities. The transaction comprises $1.85 billion of assumed Equiniti debt and roughly $2.35 billion…
