Crypto Long & Short: Protecting the people building DeFi infrastructure

Welcome to our institutional newsletter, Crypto Long Short. This week: Jennifer Rosenthal talks about the need to protect the people actually building DeFi infrastructure. Alexis Sirkia talks about how Ethereum’s L2 strategy failed due to fundamental design flaws. Top Stories Agencies Should Watch By Francisco Rodrigues. Aave’s market share fell after rsETH was exploited on…

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DeSantis signs Florida law banning local DEI funding, says white men are ‘disfavored’

ORLANDO, Fla. (AP) — Florida Gov. Ron DeSantis said Wednesday that white men are being discriminated against because of diversity, equity and inclusion programs after signing legislation that bars counties and cities from funding or promoting DEI programs. The Republican governor defined DEI in a press conference as “an ideological construct designed to promote a…

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The Protocol: Kelp DAO exploited for $292 million

network news KELP DAO vulnerability: A cross-chain bridge holding nearly a fifth of the re-staking Ethereum circulating supply has just been depleted, and the impact is spreading across DeFi faster than the Kelp DAO contract suspension. Over the weekend at 17:35 UTC, an attacker drained 116,500 rsETH (recollateralized Ether) from Kelp DAO’s LayerZero-powered bridge, worth…

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Banks seek to slow down implementation of crypto’s GENIUS Act on stablecoin oversight

The cryptocurrency industry often finds bankers involved in its most important regulatory efforts, and this time, a coalition of banking industry associations asked the U.S. Treasury Department to extend the window for public participation in the implementation of last year’s U.S. Stablecoin Guidance and Establishing a National Innovation Act. In a letter this week to…

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