Decentralized finance (DeFi) interest rate protocol Compound Finance has reported a token distribution bug within its newly implemented Proposal 062, which is over-rewarding suppliers into the tens of millions of dollars.

The upgrade was designed to “split COMP rewards distribution and bug fixes” and was fully verified without issues. However, within hours, the team noted “unusual activity,” stating that “Compound Labs and members of the community are investigating discrepancies in the COMP distribution.”

Despite the developments, the team has stressed that no funds either supplied or borrowed are at risk. Users of the protocol are reporting sizable windfalls, one claiming a deposit of 70 million COMP tokens into their account, equivalent to $20 million…read more.

You may have heard that a deadline to suspend the debt ceiling is rapidly approaching, and if lawmakers don’t do anything it could lead to “economic catastrophe,” in the words of Treasury Secretary Janet Yellen.

But what if we told you there was a solution to the debt ceiling fiasco so crazy…it just might work?

The solution: Yellen could have the Treasury mint a $1 trillion platinum coin, deposit it at the Fed to “retire” loads of US federal debt, and then enable the government to carry on with business as usual without having to worry about defaulting on its existing debt.

But can the Treasury really do that? Yes. According to Section 31 US Code § 5112…read more.

Bitcoin and ether tumbled Friday, with traders rattled by tough talk out of China.

The price of bitcoin fell nearly 6% to $42,124.73, according to Coin Metrics data. Ether, the second-largest digital currency, dropped 8% to $2,894.36.

It comes after the People’s Bank of China said in a Q&A that all crypto-related activities are illegal. Services offering trading, order matching or derivatives for virtual currencies are strictly prohibited, the PBOC said, while overseas exchanges are also illegal.

Beijing has cracked down sharply on crypto this year. The Chinese government moved to stamp out digital currency mining, the energy-intensive operation that validates transactions and produces new coins. That led to sharp slump in bitcoin’s processing power as miners took their equipment offline…read more.

Twitter on Thursday announced it will now allow users to tip their favorite creators on the social network using bitcoin.

The company introduced tipping as a test feature back in May as a way to experiment with helping creators earn payments from their followers for the content they post on Twitter. The company announced Thursday that its Tips feature will now roll out globally to all Apple iOS users this week and will become available for Android users in the coming weeks.

Previously, users could tip with fiat currency using more traditional payment services such as Square’s Cash app and PayPal’s Venmo. Twitter will integrate the Strike bitcoin lighting wallet service so creators can receive bitcoin tips. The company will also allow users to add their bitcoin address to send and receive these cryptocurrency tips…read more.