DeFi Protocols Should Be Fiduciaries, Not Structured Product Dealers

Laveta Brigham

Lex Sokolin, a CoinDesk columnist, is Global Fintech co-head at ConsenSys, a Brooklyn, N.Y.-based blockchain software company. The following is adapted from his Fintech Blueprint newsletter.

This week, I grapple with the concepts of financial centralization and decentralization, anchoring around custody, staking, and DeFi. 

On the centralized side, we look at BitGo’s acquisition of Lumina, Coinbase Custody and its similarity to Schwab and Betterment Institutional. 

Related: Market Wrap: Bitcoin Hits $9.6K as Bullish Crypto Sentiment Returns

On the decentralized side, we examine the recent $500 million increase in value within the Compound protocol, as well as the recursive loops that could pose a broader financial risk to the ecosystem.

It is a difficult one for me to untangle, in part because I am not sure for what audience I am writing. Ever since starting to work more deeply in the crypto ecosystem, I’ve come across a very different set of

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Biden outraises Trump for month of May amid coronavirus, George Floyd protests

Laveta Brigham

Democratic presidential candidate Joe Biden has outraised President Trump for the first time this year even as the coronavirus pandemic continues to hit the United States, and George Floyd protests began. 

The former vice president pulled in $80.8 million for the month of May, topping Trump, who pulled in $74 million. 

May was the first month Biden has jointly fundraised with the Democratic National Committee, allowing him to compete on even footing with the president, who has been jointly fundraising with the Republican National Committee (RNC) for months. 

Despite besting the president in total fundraising figures, Biden still lags far behind in cash on hand totals. Trump’s cash on hand equals a staggering $265 million, compared to the less than $150 million in Biden’s coffers. 

According to the Trump campaign, the president has pulled in over $800 million for this election cycle, nearing the $1 billion figure campaign manager Brad

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Sellers Place Key Pics in Cannes Virtual Market

Laveta Brigham

Click here to read the full article.

The Cannes Marché du Film, along with a sales initiative led by Hollywood agencies, is hosting the first major virtual market since the start of pandemic, starting on June 23. Distributors and sales agents are looking forward to it: the turn-up for the online Cannes Marché du Film is significant with more than 7,000 accredited participants as of mid-June.

“As nobody can leave their house, a virtual market is the next best thing. It’s a valid and worthwhile effort … people need something to initiate interactions. If this virtual market can help in some way to stimulate business that’s a great thing,” says Dylan Leiner at Sony Pictures Classics.

More from Variety

Here’s a look at some key titles for sale:

“Balestra”

Director: Nicole Dorsey

Producers: Pierre Even

A disgraced competitive fencer (Tessa Thompson) is aiming for her Olympic comeback. She receives a

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Here’s who’s hiring as the economy reopens and jobless Americans go on the hunt

Laveta Brigham

As states open up their economies, workers who lost their jobs during the pandemic and ensuing shutdowns are on the hunt again.

In May, the economy added 2.5 million jobs — surprising economists — while the unemployment rate fell to 13.3% from 14.7% in April. Still, 20.5 million people remain jobless, per the May jobs report from the Labor Department.

Read more: Unemployment insurance: What it is and how to get it

The good news for job hunters: Not every sector is struggling and those who were recently laid off may be able to find work to meet the growing demand in certain industries. Some companies have such a need for workers that they are forgoing background checks and hiring qualified candidates on the spot.

Here’s where to look.

The economy added 2.5 million jobs in May and the unemployment rate dipped to 13.3%. (Credit: David Foster/Yahoo Finance)

jRetailers

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12 Buzzy Films for Sale at the Cannes Virtual Markets, From Michael Mann to Elisabeth Moss

Laveta Brigham

Click here to read the full article.

No splashy premieres at the Palais. No Croisette-apartment dealmaking. While there won’t be a physical Cannes Film Festival this year, this just might be the most important Cannes ever for getting business done.

As much of the industry’s work has been restricted to development amid the pandemic, agents and buyers are counting on two concurrent virtual markets that start this week to help move those projects forward. And with the fate of fall festivals up in the air, the Cannes markets could be the only opportunity to conduct business en masse for the entirety of 2020.

More from IndieWire

The markets — one spearheaded by American sales agencies and the other run by the official Marché du Film — represent the first major virtual markets to go live since the pandemic roiled the world. Agents say the two are complimentary, rather than competitive:

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Canadians at greater risk of banking app fraud due to COVID-19 trends

Laveta Brigham

GETTY
GETTY

Canadians are increasing their use of banking apps and using cash less frequently for payments due to COVID-19, and the Canadian Anti-Fraud Centre warns fraudsters could take advantage of the trend. 

Jeff Thomson, a senior intelligence analyst at the Canadian Anti-Fraud Centre (CAFC), confirmed in an interview that the centre has “not specifically received any reporting on frauds tied to mobile apps” yet, but that because their partners in the U.S. are seeing the problem, Canada likely will too. 

“If they’re seeing this type of reporting down in the U.S., it’s not uncommon for us to start seeing it as well. With COVID-19, in general, the fraud reporting that we have, it’s really been a hit as a group effort, the U.S., the U.K., New Zealand, Australia, France, every country’s reporting on these fraud trends,” he said. 

“Depending on how different countries received their reporting, they might see something

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Underage teens use Klarna to fund ‘free money’ shopping sprees online

Laveta Brigham

Teen shopping online cartoon
Teen shopping online cartoon

Teenagers have exploited a credit loophole to go on “free” shopping sprees, it has emerged. Klarna, Britain’s biggest “buy now, pay later” lender, has been forced to over­haul its security system after a 16-year-old girl was able to open an ­account on the website and rack up debts of more than £500 through buying clothes ­online.

As disclosed this week by The Tele­graph’s consumer champion, Katie Morley, the minor was able to set up a Klarna profile by opening an account using her own name but her mother’s date of birth. This fooled the credit check system into thinking the girl and her mother were the same person, even though no one of that name, age and address existed on the electoral roll. It has exposed an alarming security flaw at the increasingly popular ­service, which is strictly for adults.

Klarna, which has seven million British

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Will Smith, Princess Diana & Ferrari Pics Among Lineup For Unprecedented Online Event

Laveta Brigham

Big-canvas projects such as Will Smith starrer Emancipation and Michael Mann movie Ferrari will be on sale alongside action-thrillers like Gerard Butler movie Kandahar and Nick Jonas title The Blacksmith, adventure pics like Arthur The King, dramas such as James Gray’s starry Armageddon Time and genre fare like Elisabeth Moss movie Run Rabbit Run. There are a handful of intriguing prospects still to be announced and we’re also seeing recent deals being revealed for Cannes Official Selection movies.

The large volume of pre-sale titles seems counter-intuitive amid coronavirus uncertainty and has taken many by surprise but the pandemic has meant talent have had time to read material and with schedules in flux, there may be opportunities for more nimble productions to get underway ahead of larger movies or stage plays.

That said, it has been noted to us how few of the announced projects have start dates … Read More

Shakira, Miley, Usher, Beckham and … von der Leyen

Laveta Brigham

Brussels (AFP) – Coldplay, Justin Bieber, Jennifer Hudson, David Beckham, Dwayne “The Rock” Johnson and European Commission president Ursula von der Leyen.

Megastars of music, film, sport, fashion and regional governance will join online events on Saturday to support the search for a coronavirus vaccine.

“Artists have the power to inspire change. They use their talents to serve great causes,” von der Leyen said, announcing the conference and a concert.

Along with US-based movement Global Citizen, the EU executive is sponsoring a fund-raising and coordination drive to boost efforts to control the epidemic.

Since a first fund-raising summit on May 4 the effort has raised pledges of almost 10 billion euros from governments and billionaire philanthropists.

Von der leyen says the money will help develop a vaccine for the novel coronavirus and help make sure it is shared with the most vulnerable populations.

Johnson, a former pro-wrestler turned move star,

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COVID-19 quarantines gave hackers time to perfect presidential election attacks: tech security CEO

Laveta Brigham

Cloudflare CEO Matthew Prince continues to warn that the coming presidential election may unleash hackers again just like in 2016 in a bid to influence the outcome.

The recent actions of these faceless bad actors look to be practicing their craft while quarantined at home because of COVID-19.

“I think as sports are canceled around the world, it’s getting hackers to spend more time focusing on how they can hack various things. And we see some versions of that, which are relatively harmless. For instance, we seen a big uptick in relatively unsophisticated attacks, which is actually similar to what we see when schools let out. I think there are a bunch of kids out there trying to test their chops if they can hack various systems. What has been concerning is especially over the last month, there has been a rise in nation states sponsored attacks targeting both political

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