.StargateFinance will no longer reissue its STG token, leading to Bitfinex and Binance to promote its original token. LizKNapolitano
StargateDAO initiallyof reissuing all STG tokens by March 15 after it uncovered security risks posed by “illegitimate STG transfers from compromised Alameda wallets,” where roughly 10% of STG tokens are held. However, the DAO abandoned those plans when liquidators of FTX, Alameda’s sister company,"[The reissuance] was to try to help the safety of the tokens in question.
As a result, Bitfinex and Binance are now revoking scheduled STG contract swaps on various blockchains. They have also taken steps to ascertain whether their users who have STG holdings are, in fact, holding original STG tokens and not reissued tokens.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
‘Nobody left to bank crypto companies’ — Crypto Twitter reactsSilicon Valley Bank's (SVB) sudden collapse and the closure of crypto-friendly bank Signature Bank have prompted the crypto community to give their 2 cents on what it could all mean for the future.
Read more »
The Banking Crisis Is Not Crypto’s FaultSilicon Valley Bank, Silvergate and Signature all failed as a result of poor risk management and a subsequent bank run, gckaloudis argues, not because of crypto. Opinion for 'The Node' newsletter.
Read more »
Stargate foundation advises DAO against reissuing STG tokensThe Stargate Foundation, in concurrence with FTX liquidators, has advised the DAO against reissuing STG tokens for safety reasons.
Read more »
'Time Reflections' Finally Observed by Physicists After Decades of SearchingWalk through a maze of mirrors, you'll soon come face to face with yourself.
Read more »