#eth

MetaMask Portfolio now lets users cash out crypto to fiat currencies like USD, EUR, and GBP. Users can quickly convert crypto to fiat, sending it directly to preferred destinations like bank accounts or PayPal. Instead of relying on one provider, MetaMask aggregates multiple vetted providers, presenting real-time conversion options. Currently, this feature supports ETH on Ethereum Mainnet in the US, UK, and parts of Europe. Expansion plans include more regions and layer 2 network gas tokens.

Hackers managed to drain 6000 ETH, 3.9 million USDT, 1.1 million USDC, and 900,000 DAI from the company's address. Tongue-in-cheek, one might say Drake was responsible for the audit. UPD: Hacken has disclosed that an initial cyber theft of $20.69 million was executed on the Ethereum network, which was followed by subsequent heist amounting to $25.6 million across the BSC and Polygon networks. The project's team has not yet commented on the breach. The only information available is a Telegram channel update, indicating technical maintenance for the withdrawal of ETH, USDT, and ERC20 tokens.

It involved two transactions of 150,000 ETH each, totaling approximately $480 million. The purpose behind this transfer remains a mystery, and it may not necessarily impact the price.

After the announcement that MakerDAO intends to roll out a new version of its platform on Solana, Anatoly Yakovenko suggested this shouldn't be viewed as a challenge to Ethereum. In his perspective, MakerDAO's move accentuates the merits of open-source solutions rather than the superiority of one blockchain over another, especially given Ethereum's pivotal role in research for numerous developers. "Ethereum is awesome. Solana wasn’t built in a vacuum, and tons and tons of things that make Solana special were built based on Ethereum’s r&d," commented the Solana co-founder. Meanwhile, Ethereum co-founder Vitalik Buterin has sold all his MKR tokens for 353 ETH.

On August 30, Judge Katherine Polk Failla delivered a significant ruling on a case brought forth by Uniswap users who alleged they lost funds due to scam tokens on the platform. She stated that ETH and Bitcoin qualify as crypto commodities, a pivotal factor in her decision to close the Uniswap case.J udge was not persuaded by arguments suggesting Uniswap token sales were subject to the Exchange Act. Failla is also the judge overseeing the SEC’s case against Coinbase.

After the market crash on August 18, analyst Andrew Kang adopted a bullish stance. He opened long positions on Bitcoin (BTC), Ethereum (ETH), and Arbitrum (ARB). However, this decision resulted in a significant loss. Due to his use of extremely high leverage, which reached up to 100x, Kang's positions became vulnerable and were liquidated not once, but as many as fourteen times. These successive liquidations caused Kang to lose approximately $432,000 in a single day. This incident highlights the risks associated with trading and employing high leverage, especially during periods of intense market volatility.