CFTC cracks down on DeFi protocols Opyn, ZeroEx and Deridex<\/h2>\n
The U.S. CFTC is taking regulatory action against three DeFi protocols for allegedly failing to register various derivatives trading offerings. The U.S. commodities regulator announced it had issued orders against protocols Opyn, ZeroEx and Deridex in a Sept. 8 statement.<\/p>\n
Deridex and Opyn were charged for failing to register as a swap execution facility or designated contract market and failing to register as a futures commission merchant. The two protocols also failed to comply with customer provisions set out in the Bank Secrecy Act, the CFTC said.<\/p>\n
Continue reading<\/strong><\/p>\n The need for an oracle in DeFi is a major impediment to adoption in the real world, according to the authors of a Bank for International Settlements bulletin. The problems with oracles are both practical and principled, and the study\u2019s authors saw no way around them.<\/p>\n An oracle is a third party that provides real-world data flowing to or from a DeFi protocol. An oracle is centralized by nature, and its presence means a protocol is not fully decentralized \u2014 if that is tolerated, then trustlessness is lost, the authors said. That is likely to be a fatal flaw for use with real-world assets, the authors wrote.<\/p>\n Continue reading<\/strong><\/p>\n Crypto exchange Binance is refunding users $1 million of Tether (USDT) over its handling of the CyberConnect (CYBER) token incident.<\/p>\n As described by the exchange on Sept. 7, a price discrepancy on listed CYBER tokens occurred the week prior due to a liquidity crunch constricting CYBER cross-chain bridges on the Korean cryptocurrency exchange Upbit. This led to arbitrageurs borrowing CYBER from Binance to profit from the difference. In turn, Binance users who staked CYBER in its Flexible Earn Program were barred from redemptions, as the staked assets had been borrowed, reaching the loan limit.<\/p>\n Continue reading<\/strong><\/p>\n The total number of wallets on Shiba Inu\u2019s newly launched layer-2 network, Shibarium, has surpassed the one million mark in a meteoric rise since its relaunch. <\/p>\n The milestone \u2014 announced in a Sept. 3 blog post by the official Shibarium team \u2014 means there were at least 900,000 wallets created since Shibarium\u2019s relaunch on Aug. 28, and only two weeks after the Shibarium network first went live \u2014 albeit with some technical hiccups.<\/p>\n\u201cPure\u201d DeFi has little chance for real-world use because of need for oracles: BIS<\/h2>\n
Binance to reimburse users $1 million for Cyber Earn incident<\/h2>\n
Shibarium hits one million wallets amid meteoric growth, SHIB yet to catch up<\/h2>\n
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