Ricardo Spagni, the former lead maintainer of Monero, one of the most used privacy coins in the cryptocurrency market, has called on Binance to take a stance on the issue of privacy coins. Spagni stated that avoiding taking sides in the process is a disservice to the whole industry and that any protocol-level changes to make Monero compliant are “unnecessary.”
Former Monero Lead Dev Ricardo ‘Fluffypony’ Spagni Calls on Binance to Stand for Privacy Coins Ricardo “Fluffypony” Spagni, the former lead maintainer of Monero, has called on Binance to change its position on delisting privacy-focused coins. In a recent X post, Spagni criticizes Binance’s stance, which could lead to the delisting of these currencies in January.
Supported by a report produced by consulting firm Perkinscoie, which states that “privacy coins protect legitimate individual and commercial privacy interests and that existing financial regulations sufficiently address the AML issues that privacy coins present,” Spagni blasted Binance’s compliance requirements.
The decentralized finance platform Levana Protocol confirmed on Dec. 27 that unknown attackers had drained approximately $1.14 million from the liquidity pool. The Levana team however insisted that the issue has “been fixed and opening positions will relaunch next week.”
‘Precognition Oracle Attacks’ The decentralized finance (defi) platform, Levana Protocol, recently confirmed that it was a victim of an oracle attack, in which approximately 10% or $1.14 million was drained from the liquidity pool (LP). However, in an update shared via X on Dec. 27, the Levana team insisted that the issue has already “been fixed and opening positions will relaunch next week.”
According to the update, the attack occurred 14 days earlier, and over 12 days, the hackers were able to drain approximately 4% off the LP. However, the attack increased significantly during Osmosis congestion on Dec. 26, resulting in an additional 5% drain. Initially, the Levana team attributed the resulting change in the profit and loss (PNL) to “organic trader profits and lack of effective cash.”
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Genesis Alleges Multi-Million Dollar Preferential Transfers by Gemini Amidst Crypto Turmoil In a recent legal move, Digital Currency Group’s (DCG) subsidiary Genesis Global Capital LLC has filed a complaint against the crypto exchange platform and custodian Gemini. Genesis hopes to claw back $689 million from the centralized crypto trading platform founded by Cameron and Tyler Winklevoss in 2014.
Genesis Targets Gemini in $689M Legal Battle Over Alleged Preferential Crypto Withdrawals
The court filing, filed on November 21, 2023, accuses Gemini of withdrawing over $689 million in the months leading to Genesis’ Chapter 11 bankruptcy proceedings. This action, according to Genesis, unfairly benefited Gemini at the expense of other creditors.
The complaint, filed in the wake of significant crypto market instability that began in 2022, targets transactions occurring in the 90 days preceding Genesis’ bankruptcy declaration. According to the document, Gemini’s withdrawals totaled approximately $689.30 million, a move Genesis describes as preferential and detrimental to the broader creditor base.
This situation arose during a period marked by notable fluctuations and uncertainty within the cryptocurrency sector, further complicating the financial dynamics at play. Genesis’ legal strategy aims to invoke the provisions of the Bankruptcy Code to rectify what it perceives as an inequitable situation.
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