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SOL $89.43 +4.06%
TRX $0.3246 -0.64%
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ADA $0.2633 +4.04%
BCH $454.51 +2.95%
LINK $9.72 +3.75%
HYPE $44.52 -0.73%
AAVE $116.73 +7.88%
SUI $1.02 +4.40%
XLM $0.1723 +5.96%
ZEC $343.80 -0.61%

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After the Federal Reserve granted Kraken a master account, banking organizations expressed "deep concern."

According to market news, after the Federal Reserve approved the main account application of the cryptocurrency exchange Kraken, U.S. banking organizations expressed strong opposition, warning that this move could allow cryptocurrency institutions to access the central bank's payment system without the same regulatory protections as traditional banks.The Bank Policy Institute stated that it is "deeply concerned," believing that the Kansas City Fed approved the application before the Federal Reserve finalized the framework for a limited-purpose main account policy, and that the approval process lacked transparency. The Independent Community Bankers of America also stated that allowing non-bank entities and cryptocurrency institutions to access main accounts poses risks to the banking system. A Federal Reserve governor mentioned last month that they hope to launch a streamlined account structure later this year.Some participants in the cryptocurrency market believe that Kraken's approval signifies a breakthrough in establishing non-depository banking operations that do not rely on loans. In a previous news report, it was mentioned that Kraken was approved for a "streamlined" Federal Reserve main account, becoming the first cryptocurrency company authorized to access the Federal Reserve's core payment system, Fedwire.

Uniswap's motion to dismiss the class action lawsuit over fraudulent tokens was fully granted, with the court ruling that the platform is not responsible for third-party actions

A U.S. federal judge ruled to dismiss the remaining state law claims against Uniswap Labs and its founder Hayden Adams, ending a years-long class action lawsuit.The plaintiffs attempted to hold the platform liable for losses incurred from "scam tokens" traded on the Uniswap protocol. Judge Katherine Polk Failla of the Southern District of New York issued the ruling on Monday, dismissing the plaintiffs' second amended complaint "with prejudice," stating that the plaintiffs failed to present a viable legal claim. The court noted that the plaintiffs had multiple opportunities to amend their complaint but still could not demonstrate that Uniswap was responsible for the misconduct of unnamed third-party token issuers.The plaintiffs claimed to have suffered losses due to actions such as "rug pulls" and "pump-and-dump" schemes, arguing that Uniswap "aided fraud" by providing a platform for buyers and sellers to trade. However, the court clearly stated that merely providing a decentralized trading platform does not constitute "substantial assistance" to fraudulent activities. Judge Failla reiterated her previous view that holding developers of smart contract code responsible for the abusive actions of third parties on decentralized platforms is "logically difficult to sustain."The case was initially filed in 2022 and originally included federal securities law claims. The related securities claims were dismissed in 2023, and the Second Circuit Court of Appeals upheld that ruling, remanding the remaining state law claims to the district court for consideration. This ruling signifies the formal conclusion of the case and further tightens the boundaries of state law liability for DeFi platform developers.

The Aave governance dispute escalates, ACI releases the "Aave Labs Audit" report, and tensions rise ahead of the $51 million grant proposal

The Aave community governance conflict has escalated again. The Aave Chan Initiative (ACI) and its founder Marc Zeller released an "audit" report targeting Aave Labs on the eve of a vote for a $51 million proposal known as "the largest funding request in Aave's history," sparking widespread discussion.ACI stated on social media that before the "$51M Aave Will Win" proposal enters Snapshot voting, the community should examine Aave Labs' past performance and its cumulative use of approximately $86 million in funds. Zeller mentioned that ACI has already released its own transparency report and evaluated Aave Labs using the framework of "what was delivered, how much it cost, and what the returns were." The report pointed out that Aave Labs has a cumulative "total capitalization" of about $86 million, which includes: $16.2 million from the 2017 ICO financing, $32.5 million from VC funding rounds, $31.93 million from direct DAO grants, and approximately $5.5 million categorized as "unapproved" swap fees.Zeller also noted that the founding team once held 23% of the initial supply of LEND (which later migrated to AAVE), but the current AAVE holdings have not been publicly disclosed. The report questions why Aave Labs has not released an "accountability report" that includes cost-output ratios, financial disclosures, and wallet transparency, arguing that information disclosure remains insufficient in the context of receiving large amounts of funding over the long term.

Vitalik: The goal of Ethereum is to grant humanity freedom, and extending the feedback distance between humans and AI is not a good thing

Ethereum co-founder Vitalik Buterin responded to Sigil on the X platform, stating that extending the feedback distance between humans and artificial intelligence is not a good thing. This trend often leads to AI generating low-quality content rather than truly solving real human problems, and it has not achieved good optimization even at the level of entertainment experience.Vitalik further warned that once AI develops to a sufficiently powerful and potentially dangerous stage, such developmental paths could maximize the risk of irreversible anti-human outcomes, even leading the promoters themselves to feel regret. The goal of Ethereum is to grant freedom to humanity, not to create a self-operating system that leaves human conditions unchanged or even worsened.Additionally, Vitalik Buterin pointed out that current mainstream models operate on centralized infrastructure such as OpenAI and Anthropic, which is not true self-sovereignty. This disregard for centralized trust assumptions is contrary to the principles that Ethereum opposes.The trend of exponential technological growth itself is difficult to stop; therefore, the core task of the current era is not to further accelerate exponential expansion, but to guide its direction of development, avoiding the system sliding into uncontrollable or undesirable attractor states.ChainCatcher previously reported that X user @0xSigil announced on the X platform the construction of an AI system capable of autonomously generating income, self-improvement, and replication without human intervention. This technology aims to provide AI with "write" permissions to the world and supports a "new network" composed of exponentially growing sovereign AIs.The author introduced the concept of "WEB 4.0" in related discussions, defining it as the stage of the birth of superintelligent life. This system demonstrates the technological path for AI to achieve self-sustainability and evolution.Moreover, both Solana and Ethereum have retweeted this post, stating that the technology is closely related to the project.
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