China News by Thebittimes.Com

Hector Network is the latest project to have been affected by the Multichain shutdown. The majority of votes move to liquidate assets  The Hector Network, a team behind a decentralized finance (defi) project on the Fantom ecosystem, is taking steps to prevent further losses following the bridge hack on Multichain. The project put forth a proposal to the decentralized autonomous organization (DAO), suggesting either to liquidate assets in the treasury or to migrate the Hector Network, the assets, and the HEC token to another chain under a different brand. The snapshot reveals that 196 governance token holders have cast their votes, with 77.68% favoring liquidation over migration at the time of writing.  You might also like: Crypto lending protocol Geist Finances ceases operations after Multichain shutdown According to the proposal, the voting period will last for 48 hours, with two hours left before the time lapses. The Hector Network team said the reason for ...

Top10 News 1. Silvergate Bank to end operations and liquidate link On March 9, Silvergate Capital Corporation said in the document submitted to the SEC that it would end its operation and voluntarily liquidate Silvergate Bank in accordance with applicable regulatory procedures. “The Bank’s wind down and liquidation plan includes full repayment of all deposits. The Company is also considering how best to resolve claims and preserve the residual value of its assets, including its proprietary technology and tax assets.” 2. New York Attorney General Letitia James sues KuCoin exchange link On March 10, New York Attorney General Letitia James filed a lawsuit against KuCoin exchange, accusing it of allowing investors in New York to trade cryptocurrencies without registering with the state. Last month, she filed a lawsuit against CoinEx for similar reasons. At the same time, in a petition, regulatory agencies for the first time claimed in court that ETH is a security. 3. US President Biden’s...