Marilyn Monroe Estate Launches Modern Muse NFT Collection

Marilyn Monroe, the visionary icon of classic cinema, is revived through Modern Muse generative art collection.

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Creditor offers Bitcoin miner Core Scientific $72M to avoid bankruptcy

B. Riley suggested the embattled miner’s issues were “self-imposed” and outlined a path for it to avoid bankruptcy.

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Aave adopts proposal to temporarily pause ETH borrowing

The Aave (AAVE/USD) community has voted to temporarily pause Ethereum (ETH) borrowing on the decentralised finance (DeFi) protocol ahead of the Ethereum Merge slated for mid-September.

This is after more than 96% of the community agreed with a risk assessment report and improvement proposal first highlighted on 23 August 2022.

In the Aave ETHPoW Fork Risk Mitigation Plan report, the Aave team said that research platform Block Analitica had identified probable risks with regard to borrowing ETH on the Aave protocol on Ethereum.

Per the proposal, Block Analitica had highlighted that potential for increased borrowing in the Ether market as investors look to benefit from forked proof-of-work ether (PoW ETH, or ETHW), heavy borrowing amid over-utilization could pose a risk.

“Ahead of the Ethereum Merge, the Aave protocol faces the risk of high utilisation in the ETH market. Temporarily pausing ETH borrowing will mitigate this risk of high utilisation.”

According to the protocol, high utilisation will interfere with the network’s liquidation transactions, an eventuality that would increase the odds of an insolvency for Aave.

Also important is that having high borrowing of the Ethereum token could lead to stETH/ETH recursive positions becoming unprofitable. The scenario would increase the chances of users unwinding their positions and triggering further price deviations for stETH/ETH – adding to the pressures of liquidations and insolvency.

The proposal passed with 96.1% of the community vote, with 60 AAVE paid to the Block Analitica as compensation for its input.

The post Aave adopts proposal to temporarily pause ETH borrowing appeared first on Invezz.

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Terra Blockchain Temporarily Stops Block Production, Aims to Restart Network With a Patch – Bitcoin News

At 12:14 p.m. (ET), the Twitter account operated by the Terra team announced that the Terra blockchain network had been halted. According to the Terra developers’ tweet, Terra validators needed to apply a patch to further disable delegations. Terra Blockchain Halts in Order to Prevent Governance Attacks, Team Says Restart Coming Soon At the time […]

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Report: SEC Temporarily Halting Crypto Lawsuits with Approaching Deadlines

After a series of rapid-fire cryptocurrency enforcement actions by the Securities and Exchange Commission (SEC), market participants can finally breathe a small sigh of relief as the regulatory body takes a momentary pause on new lawsuits. The SEC has been on a spree of filing legal actions against various crypto projects and entities, citing securities [...]

The post Report: SEC Temporarily Halting Crypto Lawsuits with Approaching Deadlines appeared first on Crypto Breaking News.

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