In theory, smart contracts and decentralized autonomous organizations were discussed during the early years in cryptocurrency. Many people now consider The DAO, which was launched in 2016 by members from the Slock.it team, to have been the first smart-contract-based DAO. There will be many more DAOs in 2022. Statistics show that $10 billion of DAO treasuries are held.
After an administrative error, the hacker stole 20 million OP tokens.
Edge, a cryptocurrency company based in San Diego, has launched a private crypto Mastercard. It doesn’t collect KYC information and doesn’t charge transaction fee fees. Edge’s website states that “no name nor address is associated with [the] Edge Mastercard”, giving privacy advocates some peace of mind.
Americans are concerned about a new tax reporting requirement. This will require applications such as Venmo Cash App, Paypal and Airbnb to send 1099-K forms. The U.S. Internal Revenue Service is focusing on payments exceeding $600 for goods or services that are received via a third party payment network.
Orderly Network, a protocol for decentralized exchange protocols, announced a $20 Million fundraise by a group DeFi heavyweights.
FireStake validators acknowledge that they were involved in the Osmosis exchange bug which has resulted in $5M in attack.
Reporters raise concerns about the network’s crash-prone architecture. Many of these claims have been refuted by Solana Labs.
In its first debate, the Congress of Colombia approved a bill to regulate cryptocurrency exchanges in Colombia. This is the first step to clarify this issue. Representative of the Green Party, Mauricio Toros, one of the bill’s creators, stated that the bill was necessary to protect users against Ponzi schemes and provide them with security in the crypto world.
The ApeCoin community voted to remain on Ethereum in a heated round of voting. However, not everyone is happy.
The World Bank warned of a global recession. David Malpass, President of the World Bank, stated that recession is likely in many countries. This is the most severe slowdown in over 80 years .”
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