Happy Friday! Binance Bytes is an initiative by the Research team to provide a quick round-up of the week.
Highlights 🧵:
1/ Uniswap Labs settles US$175K charges with the U.S. Commodity Futures Trading Commission (CFTC) over illegal derivatives trading. The CFTC stated that Uniswap Labs allowed users to trade leveraged tokens without proper registration, violating commodities laws. "The order finds these leveraged tokens are leveraged or margined commodity transactions that did not result in actual delivery within 28 days and therefore can be offered to non-Eligible Contract Participants only on a board of trade that has been designated or registered by the CFTC as a contract market, which Uniswap Labs was not," the CFTC said.
2/ Mastercard launched a euro-denominated crypto debit card in partnership with Mercuryo, to enable spending from self-custodial wallets. Following a pilot of a crypto debit card with the major self-custodial MetaMask wallet in August, Mastercard remains committed to eliminating the barriers between blockchain and conventional payments. “At Mastercard, we are working closely with partners to innovate and enhance the self-custody wallet experience,” said Christian Rau, senior Vice President of Mastercard’s crypto and fintech enablement.
3/ Penpie encountered a security exploit that resulted in a US$27M loss in assets, including wstETH, sUSDe, agETH, rswETH, and other Pendle-related YT tokens. According Peckshield, "the root cause is the introduction of an evil market that was used to inflate the staking balance to claim unwarranted rewards. Majority of the stolen assets were converted into 11,109 ETH, and 1,000 ETH (approximately US$$2.42M) was deposited into the crypto mixer Tornado Cash. In response, the Pendle team swiftly paused their contracts, preventing a further loss of US$105M in assets that could have been further drained.
Check out our latest publications from this week 🔎:
