Ethereum News Daily TheBitTimes.com

Tether has signed a memorandum of understanding (MOU) with the government of Georgia to foster crypto, web3, and peer-to-peer (P2P) technology development in the country. The stablecoin issuer will also work with local startups to develop blockchain-based solutions through collaboration. Tether forges alliances with Georgia Tether.to, the issuers of USDT, the world’s largest stablecoin, has signed a memorandum of understanding (MOU) with the Georgian government to accelerate the development and adoption of crypto, blockchain, and peer-to-peer technologies in the country. According to a press release shared with crypto.news, the alliance aims to attract foreign direct investment, develop resilient communication and financial systems for the country through blockchain and P2P technologies, collaborate with local academic institutions for educational programs focusing on crypto, web3, stablecoins, and other innovative technologies. You might also like: Gate Pay and City Pa...

Just a day after Binance , the Securities and Exchange Commission (SEC) has charged US Crypto exchange Coinbase for allegedly violating federal securities law. The SEC warned Coinbase that it could soon sue back in March, when it issued a Wells Notice. In its lawsuit issued on Tuesday, Coinbase is accused of operating an unregistered broker, exchange, and clearing agency. The complaint says the firm “never registered with the SEC” to provide these functions, “thus evading the disclosure regime that Congress has established for our securities markets.” The firm’s listed tokens along with its Prime, Wallet, and staking products were identified by the SEC as alleged violations of securities law. Coinbase is accused of knowingly listing high risk assets that “had the characteristics of securities,” the lawsuit added. “To realise exponential growth of the Coinbase Platform and boost its own trading profits, Coinbase made the strategic business decision to add Crypto assets to the Coin...

The co-founder of Polygon and other decentralization proponents said the move sets a bad precedent. Tether, the issuer behind the leading stablecoin USDT has blacklisted an address that drained Maximal Extractable Value (MEV) bots for $25 million last week.  The address in question exploited a bug in MEV-boost-relay to outsmart the MEV bots trying to execute a sandwich trade. Sandwiching occurs when one order is placed immediately before the trade and another immediately after it. In essence, the trader will front-run and back-run at the same time, sandwiching the original pending transaction in between. In this case, the rouge validator address swooped in to back-run the MEV’s transaction, leading to losses of nearly $25 million in various digital assets, making it the largest MEV exploit to date. Etherscan has already flagged the address with a warning of its involvement in the exploit. Rouge validator address. Source: Etherscan The USDT address held about $3 million in USDT at ...