Abracadabra DAO Votes on Protocol Shutdown Amid $21 Million Bad Debt Crisis
Governance proposal seeks to liquidate remaining assets and distribute proceeds to MIM holders after collateral falls below 4 cents per token
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Latest updates, press releases, and insights from the volatile world of digital assets.
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AlphaFi Winds Down Sui DeFi Operations After Oracle Error Creates Bad Debt
AlphaFi has halted new activity on its Sui-based platform after an ALPHA oracle misconfiguration produced undercollateralized loans. The Sui Foundation covered the resulting shortfall, keeping the protocol solvent and user funds protected during an orderly exit
- News
a16z-Backed Layer-1 Project Linera Ceases Operations After Failed Token Sale
The blockchain initiative, previously backed by $12 million including funds from a16z Crypto, is winding down after failing to secure further capital needed for mainnet
- News
Zamanat Sponsors Up to $100 Million Tokenized Fund to Address GCC SME Credit Shortfall
Dubai-based firm backs DIFC-regulated private credit vehicle on ZIGChain as first regulated tokenization example aimed at regional small and mid-sized firms
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Tether-Backed Chilean Exchange Orionx Shuts Down Over $7 Million Custody Shortfall
Orionx begins permanent closure after forensic audit reveals multimillion-dollar gap in client assets, suspends withdrawals, and files criminal complaint against former co-founders
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Poland Parliament Fails to Override Third Presidential Veto on Crypto Oversight Bill
Poland’s Sejm fell 25 votes short of the supermajority required to override President Karol Nawrocki’s veto, leaving the country without a designated crypto supervisor under EU MiCA rules amid a widening exchange scandal
- News
Dutch Prosecutors Sell €2.2 Million in Crypto from Failed Knaken Platform
Authorities liquidated seized digital assets from the bankrupt Dutch trading platform, providing the first funds for creditor claims amid a large shortfall
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Coinbase Reports $359 Million Q2 Loss as Trading Slows, Stock Drops 5%
Crypto exchange reports $1.22 billion in revenue, misses estimates, while capturing record market share and expanding stablecoin and prediction market businesses
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