Crypto

Latest Crypto News: South Korean Platform Delio Pauses Withdrawals, Snoop Dogg NFT Passport Lets Fans Tour With Rapper In Digital Form

Here are some of the major developments from the world of crypto over the past few days

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Latest Crypto News: South Korean Platform Delio Pauses Withdrawals, Snoop Dogg NFT Passport Lets Fans Tour With Rapper In Digital Form
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South Korean virtual asset manager and lending platform Delio has suspended withdrawals following challenges at Haru Invest, a similar entity.

Delio said it announced the temporary suspension of customer withdrawals “in order to safely protect the assets of customers currently in custody.”

The company took the choice in response to Haru Invest’s recent suspension of deposits and withdrawals of digital assets, which raised market volatility and confused investors in the area. Delio said that the suspension won’t end until “the situation and its aftermath are resolved.”

A translation of the announcement read: “In order to safely protect the assets of customers currently in custody, Delio will inevitably suspend withdrawals temporarily as of June 14, 2023, 18:30.”

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Snoop Dogg NFT Passport Lets Fans Tour With Rapper In Digital Form

Rap artist Snoop Dogg is back on Web 3.0 with a non-fungible token (NFT) initiative that will let his fans follow his life while he’s on the road. The NFT will give holders access to behind-the-scenes content uploaded by Snoop Dogg while on tour.

Named the Snoop Dogg Passport Series, the NFT collection will give users access to a variety of information, including images and videos that the rapper shared while on tour as well as behind-the-scenes recordings.  

Future releases of items and artwork will also be available to NFT passport holders.

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The rapper claims to have been “pushing things forward” for a long time and thinks digital merchandise will play a role in the future. Along with that, he exhorted other creatives to imitate him: “I’m hoping other artists can see what I’m doing and continue to innovate on their own,” Snoop Dogg said in a statement.

Aave Proposal To Freeze Alleged Curve Founder’s Loans Draws Controversy

A June 12 Aave proposal aimed at preventing a particular account from accumulating more debt has led to controversy, with some participants arguing that the proposal violates the principle of censorship-resistance or “neutrality” in decentralised finance, or DeFi.

Some participants believe that the account is owned by Curve (CRV) founder Michael Egorov. Cointelegraph was not able to independently confirm who the account’s owner is.

According to the proposal’s author, financial modelling platform Gauntlet, the Ethereum address 0x7a16ff8270133f063aab6c9977183d9e72835428 has accumulated $67.7 million worth of debt in USD Coin and Tether through the AAVE v2 protocol using $185 million of Curve tokens as collateral.

Gauntlet has expressed fears that this account may continue increasing its debt, leading to the risk that it may be liquidated if there is a sudden fall in the price of Curve.

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