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Protos Live

News and insights from across the web, curated for you by the Protos newsroom.

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Here's what changed in the new Fed statement

This is a comparison of Wednesday's Federal Open Market Committee statement with the one issued after the Fed's previous policymaking meeting in March.

U.S. Imposes Sanctions on Chinese Companies for Aiding Russia’s War Effort - New York Times https://www.nytimes.com/2024/05/01/us/politics/us-sanctions-china-russia.html
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U.S. Imposes Sanctions on Chinese Companies for Aiding Russia’s War Effort

The penalties came after top Biden administration officials warned China not to help Moscow restock its arsenal to attack Ukraine.

🔵 Block whistleblower says firm ignored compliance, allowed terror groups - Protos https://protos.com/block-whistleblower-says-firm-ignored-compliance-allowed-terror-groups/
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Block whistleblower says firm ignored compliance, allowed terror groups

Transactions from Jack Dorsey's Block, Cash App, and Square are reportedly being investigated by federal prosecutors over compliance lapses.

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US lawmakers introduce bill to clarify taxation of staking rewards

Two lawmakers introduced a bill clarifying that staking rewards should be taxed only at the time of their sale.

🔵 DeFi lender Pike Finance loses $1.9M to two hacks in less than a week - Protos https://protos.com/defi-lender-pike-finance-loses-1-9m-to-two-hacks-in-less-than-a-week/
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DeFi lender Pike Finance loses $1.9M to two hacks in less than a week

Pike Finance paused its protocol when it lost $300,000, however, this opened up a new vulnerability that cost it $1.6 million four days later.

Why hundreds of U.S. banks may be at risk of failure - CNBC https://www.cnbc.com/2024/05/01/why-hundreds-of-us-banks-may-be-at-risk-of-failure.html
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Why hundreds of U.S. banks may be at risk of failure

Of about 4,000 banks, 282 banks face threats from commercial real estate and higher interest rates, according to a study by Klaros Group.

Hundred Finance’s $7.4 million stolen last year starts to move - DL News https://www.dlnews.com/articles/defi/hundred-finance-hacker-moves-crypto-from-curve-finance/
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Hundred Finance’s $7.4 million stolen last year starts to move

Why the hacker suddenly decided to start moving funds after all this time isn’t known.

Biden Cancels $6.1 Billion in Debt for Former Art Institute Students - New York Times https://www.nytimes.com/2024/05/01/us/politics/biden-cancels-6-1-billion-in-debt-for-former-art-institute-students.html
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Biden Cancels $6.1 Billion in Debt for Former Art Institute Students

The announcement covers 317,000 former students and marks another step in the administration’s student loan relief efforts.

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Blockchain Sleuth Elliptic Explores AI and Anti-Money Laundering Using 200M Bitcoin Transactions

Patterns of illicit activity involving groups of bitcoin nodes and chains of transactions are described in a research paper by Elliptic and MIT-IBM Watson AI Lab.

🔵 Former FTX exec pays $1.5M for watch worn by Titanic’s richest passenger - Protos https://protos.com/former-ftx-exec-pays-1-5m-for-watch-worn-by-titanics-richest-passenger/
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Former FTX exec pays $1.5M for watch worn by Titanic's richest passenger

Former FTX exec Patrick Gruhn paid $1.5 million for the watch worn by John Jacob Astor IV during the sinking of the RMS Titanic in April 1912.