Virginia

Finance Redefined: DeFi protocols lost $1.6B, EU to rethink DeFi approach, and more

The past week in the decentralized finance (DeFi) ecosystem saw many new developments from an adoption perspective and protocol developments. The European Commission added a new chapter on DeFi, showing the growing impact of the nascent ecosystem, while a county in the United States State of Virginia wants to put its pension fund in a DeFi yield. DeFi exploits became the center of attention again as recent research shows that in the first two quarters of 2022, DeFi protocols have lost $1.6 billion to various exploits. Rari Fuze hacker, who got away with $80 million worth of funds, was offered a $10 million bounty. The DeFi tokens also made a bullish comeback toward the end of the past week. However, the overall weekly performance remained in the red. European Commission report suggests ret...

US Virginia Senate allows state banks to offer crypto custody services

The Senate of Virginia in the United States unanimously approved a bill amendment request that now allows traditional banks operating in the Commonwealth of Virginia to provide virtual currency custody services.  Delegate Christopher T. Head introduced the bill (House Bill No. 263) back in January 2022, seeking an amendment to allow eligible banks to offer crypto custody services: “A bank may provide its customers with virtual currency custody services so long as the bank has 26 adequate protocols in place to effectively manage risks and comply with applicable laws.” The bill passed Senate with a sweeping 39-0 vote and is waiting to be signed into law by Governor of Virginia Glenn Youngkin. Banks that intend to offer this service to clients will need to adhere to three specific requir...

Pharrell Williams Set To Open Private School For Low Income Families In Virginia

HipHopWired Featured Video Source: FayesVision/WENN.com / WENN Pharrell Williams continues to give back to the people. His newest mission is to create a private school in his hometown for low income families. As reported by The Virginia Pilot the superstar producer’s newest project is to bring higher learning to Norfolk, Virginia. The educational institution in question will cater specifically to underserved communities. According to the report it will house students from grade 3 to grade 5 “with the goal of expanding on the equity-focused nonprofit’s decade of experience running summer programs for students”. Pharrell detailed his enthusiasm in a formal press release. “If the system is fixed and unfair, then it needs to be broken,” he explained. “We don’t want lockstep learning where...

Pharrell Williams Set To Open Private School For Low Income Families In Virginia

HipHopWired Featured Video Source: FayesVision/WENN.com / WENN Pharrell Williams continues to give back to the people. His newest mission is to create a private school in his hometown for low income families. As reported by The Virginia Pilot the superstar producer’s newest project is to bring higher learning to Norfolk, Virginia. The educational institution in question will cater specifically to underserved communities. According to the report it will house students from grade 3 to grade 5 “with the goal of expanding on the equity-focused nonprofit’s decade of experience running summer programs for students”. Pharrell detailed his enthusiasm in a formal press release. “If the system is fixed and unfair, then it needs to be broken,” he explained. “We don’t want lockstep learning where...

GRiZ Announces Psychedelic Virginia Music Festival, Space Camp

Following a year devoid of music festivals thanks to the wrath of COVID-19, GRiZ is primed for a triumphant return with the announcement of his own curated fest. The electro-funk superstar has announced the debut of Space Camp, a bass music-fueled two-night festival at Virginia’s fabled Hampton Coliseum in December 2021. GRiZ will perform two different live sets alongside a number of his electronic music contemporaries, including CloZee, Liquid Stranger, LSDream, Chee, Common Creation, Kumarion, and EDM.com Class of 2021 artists Lucii and Moore Kismet. The inaugural Space Camp festival is scheduled for December 17th and 18th, 2021. According to a press release, the event marks GRiZ’s “most ambitious” live performances to date, which have the potential to b...

US election: Donald Trump begins legal battle to challenge Joe Biden’s victory Monday

President Donald Trump says his campaign office will kick-off legal battle to challenge the victory of Joe Biden in the US poll on Monday. Joe Biden becomes US President-elect on Saturday after defeating the incumbent in the presidential poll. But Trump has rejected Biden’s victory, claiming the election was fraudulent and that he would challenge the outcome in court. Immediately Biden was declared winner, the president said in a statement from his campaign that Biden is “rushing to falsely pose as the winner,” and called the race “far from over.” The statement said the campaign’s legal battle would begin Monday. “Beginning Monday, our campaign will start prosecuting our case in court to ensure election laws are fully upheld and the rightful winner is seated. “I will not rest until the Ame...

US election: Republicans hold back Democrats, narrowing path to Senate control

The battle for power in the Senate tightened into Wednesday as Democrats picked up a seat in Colorado, but suffered a setback in Alabama, and Republicans held their own in high-profile races in South Carolina, Iowa, Texas and Kansas, dramatically narrowing the political map. Republicans fought to retain their Senate majority by turning back a surge of Democrats challenging allies of President Donald Trump, and the Democrats’ various paths to seizing control were growing more limited. With several contests still too early to call, and one Georgia race heading to a January runoff, the final verdict is expected to drag on. Democrats gained a seat when ex-Gov. John Hickenlooper ousted GOP Sen. Cory Gardner in Colorado, a must-win to flip the Senate, but couldn’t hold on in Alabama, where forme...

Gold rises on renewed US stimulus hope, dollar falls

Spot gold rose 0.3 percent to $1,910.56 an ounce at 3:37pm, New York time, after falling as much as 0.5 percent. Gold rose on renewed optimism for a preelection aid package in the U.S., while the dollar fell to a one-week low. House Speaker Nancy Pelosi said a bill for a compromise stimulus package is being written as she awaits a key phone call with Treasury Secretary Steven Mnuchin. Senate Majority Leader Mitch McConnell said his chamber would take up a comprehensive coronavirus package if an accord is struck. The Bloomberg Dollar Spot Index headed for the third straight decline. Pelosi said in a Bloomberg Television interview that while there are areas where more work is required to get a compromise, she was pleased with the Trump administration’s latest position on coronavirus testing ...

Racist Virginia Mayor Compares Joe Biden’s Potential VP Pick To Aunt Jemima

Source: Justin Sullivan / Getty The town of Luray, Va. is best known for its caverns and as the headquarters of the sprawling Shenandoah National Park. However, the mayor of the small town is being asked to step down in the midst of a racist post comparing Joe Biden’s potential vice president pick to Aunt Jemima. As reported by WTOP, a Washington area station, Mayor Barry Presgraves took to Facebook to make the racist job, writing, “Joe Biden has just announced Aunt Jemima as his VP pick.” Presgraves, who has served as mayor of the predominately-white town of just under 5,000, has seemingly deleted the post after the chatter around wording began to gain traction online. It has been long presumed that Biden, the former vice president, will select a woman as his running mat...

The Caucasity: Koo Koo For Koffee Ken Spits & Throws Food Inside Black Owned Coffee Shop After He’s Asked To Wear Mask

Source: FG Trade / Getty A Black business owner was forced to pull herself together after being attacked by a racist over her store’s mask policy. According to a local publication, ALX Now, Abyssinia Market & Coffee House, a Black-owned Virginia based coffee shop was vandalized and the owner, Lily Damtew, was spat on after asking a white customer to wear a mask, a new policy Damtew enforced upon the reopening of her store. “Right after they left, another guy came in not wearing a mask,” said Damtew, who was also wearing a face shield at the time. “I told him that we have a sign on the door saying, ‘Please wear a mask,’ but he said, ‘No, I don’t have to wear a mask.’” It was at that point Damtew offered the man a mask to comply with Alexandria city officials who issued an executive orde...

Man Who Drove Vehicle Into Virginia Protest Crowd Is KKK Leader, Prosecutor Says

Source: Henrico County Jail / Henrico County Jail A weekend protest in a Richmond, Va. suburb was nearly upended by the acts of a man who prosecutors say is a professed Ku Klux Klan leader. Harry Rogers was hit with several charges after attempting to drive his vehicle through a throng of peaceful protestors gathering in support of George Floyd and others. As reported by local outlet the Richmond Times-Dispatch, Harry Rogers, 36, is “an admitted leader of the Ku Klux Klan and a propagandist for Confederate ideology” said Henrico County’s top prosecutor Shannon Taylor via a press statement on the matter on Monday (June 8). Over the weekend, Rogers drove into the town of Lakeside, which is just north of Richmond, on Sunday (June 7) and reportedly threatened to run protestors over who were pe...

Pusha T, Tony Draper & Ricky Davis Kick Off Feed Your City Challenge In Norfolk

Source: Paul Morigi / Getty This coming Saturday, the city of Norfolk, Va. will play host to an event featuring one of the region’s top Hip-Hop stars, a music industry veteran, and a former NBA star giving back to those in need. Pusha T, Tony Draper, and Ricky Davis have partnered together for the Feed Your City Challenge to provide relief and aid to families in the 757 hit hard by the COVID-19 pandemic. Davis, who runs The Ricky Davis Legacy Foundation, joined forces with Draper, the founder of Houston’s Suave House Records, and G.O.O.D. Music star and Heir Wave Music Group founder Pusha T. The trio will be working alongside Norfolk Mayor Kenny Alexander, Chief Larry D. Boone of the Norfolk Police Department, and the Economic Development Authority for the City of Norfolk. The Feed Your Ci...

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