On Wednesday, Polygon experienced a blockchain quirk affecting 157 blocks or approximately five minutes worth of network activity.

After blocks appeared to have stopped being produced for several minutes, the Ethereum side-chain’s co-founder Sandeep Nailwal tweeted that (block explorer) Polygonscan was “having some issues.”

In actual fact, the interruption was down to a chain reorganization or ‘reorg’, a problem that Polygon is attempting to fix.

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A UK crypto firm that disappeared, leaving 8,000 investors, including a Premier League footballer, locked out of their investments, has ignited fierce debate around the issue of corporate lobbying in UK politics.

Phoenix Community Capital was at one point rumored to be worth $800 million and offered its customers investments that would supposedly make them their money back in 45 days. 

However, as The Guardian reports, the firm vanished in 2022, locking an estimated 8,000 investors out of their funds.

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A New York judge has ruled that a proposed class-action lawsuit against Dapper Labs and its Top Shot Moments NFT collection can move forward because the offering could have been an unregistered securities offering.

In the eyes of the plaintiffs, the offering should have registered with the SEC but instead, it opted to withhold important information from investors about the risks of investing in its NFTs. Many of these have collapsed since their purchase.

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A superseding indictment against Sam Bankman-Fried has been filed in the Southern District of New York, newly charging him with conspiracy to commit bank fraud, conspiracy to operate an unlicensed money-transmitting business, commodities fraud, and securities fraud.

This is an addition to the existing conspiracy to commit money laundering, conspiracy to make unlawful political contributions, wire fraud, and conspiracy charges.

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Crypto traders in the UK have turned to the police for help after losing nearly $2.3 million following the collapse of Sam Bankman-Fried’s (SBF) FTX empire.

As reported by CityAM, a freedom of information request (FOI) submitted by trading website Investing Reviews to the City of London Police revealed how 32 crypto traders lost a collective £1.9 million ($2.28 million).

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On Tuesday, web 3.0 company CanaryLabs.XYZ sold 71 pieces from the Bored Ape Yacht Club and Mutant Apes collections, raking in a total of up to 5,500 ETH or $9 million.

Surprisingly, the unusually large dump, which came after allegations that Yuga Labs plagiarised its logos, didn’t move the floor price at all. At the time of writing, Bored Ape Yacht Club’s (BAYC) 24-hour trading volume stands at around 13,723 ETH.

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Liquidity on crypto exchange Binance evaporated on Wednesday morning as its stablecoin, BUSD, dropped to a low of $0.20 against the DAI stablecoin.

A single sell order of $647,000 triggered the steep tumble. However, BUSD instantly regained its peg against DAI, as arbitrage traders snapped up the discount and sold it for $1 on other exchanges.

Binance’s orderbook revealed $3.38 million in aggregated sell orders made while BUSD depegged against the DAI, CoinDesk reports.

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Could it be beneficial for the prosecution to let Sam Bankman-Fried stay online and talking? Yes, but it’s also a detriment to society.

As FTX collapsed around him, Sam Bankman-Fried took to Twitter in an attempt to ease the disparate and panicked cries from traders, investors, and employees. Everything was fine, he assured the Twitterverse; the company was simply experiencing a liquidity crunch. It was all things SBF, all the time. Even when headlines read “SBF lies again” or “nothing he says makes sense," it somehow felt like he was controlling the narrative.

Then, about a month ago, there was resounding (and very welcome) silence.

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Fred Schebesta, the founder and former CEO of Australian financial services comparison application Finder, self-describes as the ‘Crypto King of Australia.’ He sold his over-the-counter trading (OTC) desk to Alameda Research which was then used to bank FTX.

Schebesta is also connected to a variety of different investment vehicles, though the full relationship between these entities is somewhat difficult to parse.

Protos investigated the tangled web of Schebesta's empire and mapped out how various entities are deeply entwined. From HiveEx to FTX, there's a lot to explore.

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In early 2023, the cryptocurrency industry has been characterized by unexpected price pumps and mounting regulatory pressure, yet it’s been a fairly quiet time for the decentralized finance (DeFi) sector.

DeFi, which usually suffers from a near-constant barrage of hacks, scams, and rug pulls, has flown largely under the radar while the likes of Binance and Kraken have faced off repeatedly with the SEC.

However, just because things in that particular part of the cryptosphere appear quieter, doesn’t mean that DeFi hasn’t had its fair share of drama.

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