Yam finance (YAM), the latest fad in the crypto space, recently warned the public of a technical bug affecting the ecosystem. "We have found a bug in the rebasing contract," the project said in an Aug. 12 tweet. "All funds in staking contract are safe, as this is an unrelated part of the protocol," the project added, also noting participants' Yam token holdings remain unaltered. As the decentralized finance, or DeFi, crypto boom continues, something called yield farming has come into the spotlight. Yield farming is essentially the latest passive income fad in crypto. Yam has risen to the top …

The Grayscale Bitcoin Trust, an investment tool that aims to provide an indirect exposure to Bitcoin (BTC) for investors in traditional markets, reported a significant increase in how many shares it issued between Q2 and Q1 of 2020. According to an Aug. 7 filing with the Securities and Exchange Commission, the trust issued more than 87 million shares in Q2 2020, compared to the total of 133 million shares issued for all of 2020. The trust issued almost 90% more shares in the second quarter of 2020 compared to the first. This also represents more than a six-fold increase compared …

Blockchain firm HashCash Consultants claims that banks are "chief arbiters" of people's identities, and need blockchain technology to do it better. According to an Aug. 11 announcement, “accurate identification of an individual is central to banking activities which makes them the chief arbiter of people's identities.” Still, the current system is not without its issues: “The existing manual processes make identification time-consuming and susceptible to errors. HashCash aims to streamline the process by helping the partner bank create digital identities for the customers over a decentralized network, where the customer data will be recorded on an immutable ledger, eliminating any …

This week’s headlines from Japan included Coincheck readying its digital shareholder meeting solution, GMO Coin announcing negative leverage trading fees, Decurret testing transactions with a power company, Japanese authorities proposing tax changes, and Japanese finance company FISCO developing apps for shareholder voting and staking. Check out some of this week’s crypto and blockchain headlines, originally reported by Cointelegraph Japan. Coincheck setting up for digital shareholder service As Tokyo-based crypto exchange Coincheck readies its new digital meeting avenue, the exchange's co-founder expressed confidence in the project. Known as Sharely, unveiled in June 2020, the digital shareholder gathering solution allows for participant …

Mathew McDermott has assumed the role of global head of digital assets for banking giant Goldman Sachs, touting future blockchain predictions. “In the next five to 10 years, you could see a financial system where all assets and liabilities are native to a blockchain, with all transactions natively happening on chain," McDermott told CNBC for an Aug. 6 article. Tweeting out the quote on Aug. 6, Morgan Creek Digital co-founder Anthony Pompliano added: "Wall Street is about to learn why technologists say innovate or die." McDermott's big plans include expansion Taking over for Goldman's previous head of digital assets Justin …

Morgan Creek’s Anthony “Pomp” Pompliano says the Federal Reserve’s attempts to control inflation are likely to end in disaster — which will benefit Bitcoin. The Fed is currently completing an annual policy review and reportedly considering a plan to not raise interest rates until inflation hits 2%. In a Aug. 5 letter to subscribers titled The Wizards of The Federal Reserve Pomp said the Fed’s efforts to ramp up inflation has put it “on a path that could end disastrously.” He stated the nature of the U.S. economy means it is “nearly impossible to manipulate with nuanced control” and the …

Recent Q2 financial details from blockchain-involved company Overstock show triple digit percentage growth compared to the same time in 2019. “Our retail success was outstanding,” Overstock CEO and Medici Ventures president Jonathan Johnson told Cointelegraph on July 30. “There were also some good Q2 wins from our blockchain companies,” he added, pointing specifically toward blockchain branch tZERO, its alternative trading platform, tZERO ATS, and blockchain-based voting app Voatz. Overstock issued digital securities to investors in Q2 "Total net revenue was $783 million, an increase of 109% year over year," a public statement on Overstock’s second quarter performance said on July …

U.S. government agency, the Financial Crimes Enforcement Network, or FinCEN, recently put out a notice mentioning the risks and symptoms of internet-related nefarious activities occurring since COVID-19 arose. "Many illicit actors are engaged in fraudulent schemes that exploit vulnerabilities created by the pandemic," FinCEN said in a July 30 statement. The agency added: "This advisory contains descriptions of COVID-19-related malicious cyber activity and scams, associated financial red flag indicators, and information on reporting suspicious activity." FinCEN's statement follows a massive Twitter hack weeks ago FinCEN's advisory comes after a large-scale Twitter breach affected many top accounts, including Joe Biden, Elon …

The Electric Coin Company, or ECC, the company overseeing privacy coin Zcash (ZEC), recently unveiled a crypto and financial educational movement called the Crypto in Context program. “It is a global effort,” the ECC’s growth vice president, Josh Swihart, confirmed to Cointelegraph in a July 29 email. “We've already supported pilots for Syrian refugees in Turkey, for Arabic speakers across Europe and the Middle East, and for students in Nigeria,” he added. The movement already has sizeable players on board In a July 29 blog post, the ECC announced the launch of its program as a way to bring crypto …

This platform is set to become a nationwide system for exchanging verified customer data. Dubai’s Department of Economic Development, or DED, and state-run bank Emirates NBD are rolling out their so-called UAE KYC Blockchain Platform. 120 local firms already signed up for the platform with Emirates NBD First revealed in February 2020, the new blockchain platform is designed to unlock digital customer onboarding, instant bank account functions, and verified KYC data sharing between licensing authorities and financial institutions. Announcing the news on July 28, the DED and Emirates NBD said that the platform has over 120 companies already on-boarded by …

The Electric Coin Company, or ECC, the outfit behind the privacy-focused Zcash (ZEC) cryptocurrency, has initiated the Crypto in Context program. The effort touts itself as a crypto education, assistive and collaborative movement, looking to impact regions where individuals lack financial service access and other difficulties, a July 29 ECC blog post said. The program harnesses “hands-on” interaction and fellowship, utilizing players from the crypto sector, the post said. The effort keys on regions in need Cryptocurrency holds a number of financial benefits, including wealth storage, income generation, lending and borrowing through decentralized finance, or DeFi, to name a few. …

Mike Alfred, CEO of analytics firm Digital Assets Data, described increased Bitcoin (BTC) enthusiasm from the public amid flying prices. “We are seeing more signs of increased institutional interest,” Alfred told Cointelegraph of Bitcoin on July 28 — the day after bitcoin rose more than $1,000 in a 24-hour period. Bitcoin broke upward Crypto’s pioneer asset had a standout day on July 27, rising from $9,930 to $11,400 within a single daily price candle, according to TradingView.com data. “Volume was strong on Bakkt and CME yesterday,” Alfred said on July 27, referencing two mainstream traditional financial entities housing BTC trading …