CFTC Sees ‘Significant Risks’ From Digital Assets 

Rocket Pool Launches rETH On zkSync Era

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MakerDAO May Execute ‘Emergency Shutdown’ If Sanctions Hit DAI

Centre Bans USDC Addresses After Tornado Sanctions

Reddit Taps Layer 2 and FTX For Community Token

Harmony Validators Decry Litany of Problems

Tutorial: No Service or Creator Fees on sudoswap

Coinbase Betting Big On Staking Ahead of Ethereum Merge: Decrypt

At ETHSeoul, Ethereum Developers Turn Attention to Privacy and Users: CoinDesk

The Chopping Block Live! – with Hasu & Rune: Unchained

The contract that needs to be revoked is: 0x9eb5f8e83359bb5013f3d8eee60bdce5654e8881 If you have approved it please revoke it immediately on https://revoke.cash: Curve Finance

Crypto Mixer Tornado Cash Added To US Sanctions List

Ethereum Gas Fees Fall to Lowest Level in Two Years

Buterin Backs Proposal For Stealth NFT Transfers

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DeFi Lender’s Stablecoin Under Pressure From USDC Contagion

 Now it’s MakerDAO’s turn. The DeFi blue chip is the latest protocol to be struck by shock waves from the U.S. Treasury Department’s decision Monday to sanction Tornado Cash, a so-called “mixer” that lets crypto users anonymize their transactions.

 Maker is making contingency plans to execute an emergency shutdown should core contracts underpinning DAI, its stablecoin, be sanctioned by Washington, according to posts from MakerDAO founder, Rune Christensen, in the project’s Discord channels. “If we get nuked by the U.S. government, we simply die,” Christensen warned.

 The move to blacklist Tornado Cash, which the Feds say 

worth of virtual currency, has already rocked USDC, the No. 2 stablecoin in terms of market value.

 On Tuesday, Centre, the consortium behind USDC, 

 and froze the USDC tokens they held. Centre, which was set up by Circle and Coinbase, has now banned 81 wallet addresses in total since USDC was launched in September 2018.

👉READ THE FULL STORY IN THE DEFIANT.IO👈

Investors Eye Decentralized Stablecoins as Consortium Bars 38 Addresses

 Stablecoins are in the spotlight yet again. Centre, the consortium behind USDC, the world’s second-largest stablecoin, 

 38 addresses on Aug. 8. This means that the USDC tokens in those addresses are frozen and cannot be moved. 81 addresses have been banned in total.

 Centre’s move came in response to the US Department of the Treasury’s decision to 

, a protocol which facilitates private crypto transactions by using a set of smart contracts to commingle and mix user deposits.

 Before Aug. 8, the Treasury had never sanctioned an open source protocol, 

 Circle founder Jeremy Allaire. Circle is a financial services company that founded Centre with Coinbase in 2018. Circle promotes a suite of products which involve USDC. The shockwaves from the asset freezes are rippling throughout DeFi.

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Flawed Response to $100M Hack Exposes Crisis of Confidence in Layer 1

 Last week, after near-universal condemnation, leaders of the Harmony blockchain 

 their proposal to reimburse community members who lost money in a $100M hack in June.

 The Layer 1 network, which sports a $346M market cap and competes with other high-speed blockchains such as Solana, has been struggling to stabilize its situation ever since.

 Now co-founder Stepehen Tse is offering a pair of new proposals. One would use the Harmony Foundation’s treasury to partially reimburse tokenholders over a period of months, and replenish its coffers by minting new ONE coins over several years. The other proposal would increase fees from transactions and fund reimbursement and “ecosystem growth.”

 “The last few days we held many calls to discuss options and tradeoffs, engaging over 20 validators, 20 community members, and 15 bridge and DeFi partners,” Tse 

 in a governance forum debating the original proposal. “We sincerely value engaging and gathering support from our community, partners, validators, and their delegators.”

DeFi Exchange Giant Says Attack Has Been Addressed

 Curve Finance, DeFi’s second-largest decentralized exchange with 

, has been hit by a frontend exploit. As of 530pm ET on Tuesday, the issue has been 

 it has frozen 112 ETH ($190,000) of the stolen funds. The protocol had earlier 

 users not to interact with its website as the team investigates.

Social Media Giant to Launch Arbitrum-based ERC20 Tokens

 Arbitrum Nova, a Layer 2 blockchain that aims to improve the gaming and social media experience on Ethereum, debuted Tuesday alongside Reddit’s Community Points program.

 Reddit, the popular social media platform with 400M monthly users and hundreds of thousands of topic-specific communities known as “subreddits,” will enable its communities to issue Ethereum-based tokens known as Community Points.

 By setting rules that determine how its Community Points are allocated, a subreddit can 

 engagement and create polls that give added weight to dedicated, long-term users, according to the social media giant.

Hello Defiers! Here’s what we’re covering today:

News

MakerDAO May Execute ‘Emergency Shutdown’ If Sanctions Hit DAI

Centre Bans USDC Addresses After Tornado Sanctions

Reddit Taps Layer 2 and FTX For Community Token

Curve Finance Scrambles to Repel Ex...

🚨 MakerDAO May Execute ‘Emergency Shutdown’ If Sanctions Hit DAI