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View More NewsDecentralized finance platform Abracadabra said Wednesday that it launched emergency measures after its crypto-collateralized stablecoin, Magic Internet Money (MIM), fell 50% below its $1 peg. “We’re acutely aware of the MIM depeg and are taking emergency actions to remedy the situation,” the team said on Wednesday.It said effective immediately, it will begin gradually “increasing interest rates across all Cauldrons, including deprecated markets, to encourage debt repayment and reduce the outstanding MIM supply.” The MIM depeg is a stark reminder that even overcollateralized DeFi stablecoins can be fragile in thin-liquidity environments and bear markets, underscoring the persistent risks of crypto-backed money.Abracadabra describes itself…
Congress and the White House are reportedly working on a deal to reshape how Americans are allowed to speak online. In exchange for overriding some state AI laws, the deal would involve a sweeping package of federal restrictions on online speech — paving the way for an unprecedented era of online censorship.The legislative package could include the Senate version of the Kids Online Safety Act, the NO FAKES Act, and age verification requirements. Taken together, these bills would fundamentally change the internet as we know it.Each of these proposals raises serious First Amendment concerns. The Kids Online Safety Act might sound innocuous. But in…
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The latest and most fearsome round of fighting in the long shadow war with the Islamic Republic of Iran is not ending well for the United States and Israel. The ceasefire agreement signed by President Trump in Versailles on 17 June is not a full peace treaty, but Iran’s leaders have nonetheless greeted it as an unalloyed triumph. They had, they boasted, “through the imposition of their divine and iron will upon the humiliated American and Zionist enemies, demonstrated with strength that the enemy has no path other than accepting defeat and surrender.”Though salient details of the “memorandum of understanding”…
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Prediction markets company Kalshi has filed a lawsuit against state officials in Illinois over legislation it says “expressly bans sports event contracts” on its…
In brief A leaker discovered new strings in Claude Code v2.1.190 suggesting Fable 5 usage will be bundled into weekly subscription limits rather than…
Your local TV stations are at risk.Not from advertisers or ratings — but from Washington.The Federal Communications Commission is demanding early license renewals from…
This trend is becoming even more relevant as real-world assets enter the digital landscape. Stablecoins have already demonstrated the power of blockchain-based representations of…
from the whoops-we-killed-grandma dept For a long time organizations like the Southern Environmental Law Center (SELC) have noted how Elon Musk’s xAI data center…
The new Global Justice Report by the World Inequality Lab in France—which calls for caps on economic growth in rich countries, top income-tax rates of…
HIVE Digital Technologies (HIVE) shares jumped 10% in pre-market trading on Thursday after the company announced a $220 million, three-year GPU cloud contract with…
Deprecated Aztec infrastructure has suffered a second exploit within days, adding to concerns about the security of abandoned smart contract infrastructure.Aztec’s private rollup bridge…
In brief Ireland’s government launched a new National Risk Assessment and 30-point action plan Thursday, naming the misuse of crypto-assets among the country’s evolving…
From yesterday’s Complaint in Spatz v. Stewart & TheaterMania (S.D.N.Y.): This is an action for libel per se, and false statements causing special damages.…
The biggest winners from the rotation have been memory and semiconductor stocks. Memory-chip maker Sandisk (SNDK) has surged roughly 800% this year and the…
G7 leaders broadened their warning over North Korean crypto theft to include wider cybercrime as researchers link DPRK-affiliated actors to billions of dollars in…