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S Korean Prosecutors to Probe ex-Kakao CEO Over Crypto ‘Embezzlement’ Allegations
13.10.2023
South Korean prosecutors will launch a “full-scale investigation” into the former CEO of the tech powerhouse Kakao over crypto “embezzlement” claims.
Chosun Ilbo reported that the case will be handled by the Seoul Southern District Prosecutors’ Office’s Virtual Asset Crime Joint Investigation...
Mastercard Announces Successful Wrapped CBDC Trial in Partnership with Reserve Bank of Australia
13.10.2023
Mastercard has announced a successful demonstration of an innovative solution that enables the wrapping of Central Bank Digital Currencies (CBDCs) on various blockchain networks.
This solution emerged from a collaboration between Mastercard, Cuscal, and Mintable as part of a research project...
DeFi User Mistakenly Swaps $131,350 in USDR for $0 in USDC
12.10.2023
In an unexpected turn of events, a decentralized finance (DeFi) user accidentally lost a fortune after he swapped $131,350 in wrapped USDR (wUSDR) for $0 in USDC.
The transaction was initially captured on DeFi and DEX aggregator OpenOcean by X (formerly Twitter) user @rektfencer.
The DeFi user...
Republik's $6 Million Funding Boosts Valuation to $75 Million in Web3 Quest – Crypto Funding Making a Comeback?
12.10.2023
Web3 social media startup Republik has announced the successful closure of its $6 million seed funding round, bringing its valuation to $75 million.
The investment round saw participation from several predominantly Asian venture investors, including OKX Ventures, 6th Man Ventures, Arcane Ventures...
Here’s How the Latest Hot US CPI Numbers Impacted Crypto Markets
12.10.2023
Hotter-than-expected US Consumer Price Index (CPI) inflation numbers did little the shift sentiment in the crypto market on Thursday.
Bitcoin (BTC) was last trading just under $26,700, just to the north of its 50-Day Moving Average (DMA), which appears to be offering support for now, but still...
Charlie Munger's Zoomtopia Keynote: Crypto, AI, and Life Wisdom
12.10.2023
Charlie Munger, renowned investor and Vice-Chairman of Berkshire Hathaway, took the stage during video conferencing company Zoom’s Zoomtopia conference on October 4, sharing his thoughts on crypto, artificial intelligence (AI), and valuable life lessons.
This exclusive event was closed to...
Court Approves Genesis and FTX $175 Million Settlement Deal Despite Outrage from Creditors
12.10.2023
A United States court has approved the settlement terms of bankrupt digital asset lender, Genesis and FTX's sister company, Alameda Research.
A Court filing on Oct 11 shows judicial accent cloaked the agreement which was entered by both companies in the course of the bankruptcy...
Stablecoin-Issuer Circle Pushes for USDC Adoption in the Philippines – What's Going On?
12.10.2023
Stablecoin issuer Circle has teamed up with Coins.ph, a major Philippine crypto exchange and crypto wallet provider, to enhance financial inclusion and improve remittances in the Philippines.
According to an announcement published by Circle on Wednesday, the partnership aims to raise awareness...
Coinbase Trading Volume Plunges 52% to $76 Billion, Marks Lowest Quarter After Public Listing
12.10.2023
Coinbase, the largest cryptocurrency exchange by volume in the United States, recorded a significant decline in spot trading volumes as the crypto bear season drags on.
On Oct 11 Bloomberg reported that the low figures posted by the popular exchange in the last quarter could be its lowest in...
Examining Crypto: Was It Ever More Than a Solution in Search of a Problem?
12.10.2023
As FTX executives testify to the sheer magnitude of ex-boss Sam Bankman-Fried’s seismic crypto fraud during his trial, some can’t help but wonder what legitimate purpose the industry can ever actually serve.
In an opinion piece for the Wall Street Journal on Wednesday, contributing columnist Adam...
JPMorgan settles its first blockchain-based collateral
12.10.2023
JPMorgan Chase & Co. has successfully carried out its initial collateral settlement for clients with the help of blockchain. This is at a time when the biggest bank in the US is looking into commercial applications that are created on the technology that is at the heart of crypto. BlackRock...
Alameda Research Lost $200M to Several Phishing Attacks Due to “Poor Security Practices”: Ex-FTX Engineer
12.10.2023
Former Alameda Research software engineer Aditya Baradwaj has exposed several security flaws that reportedly caused the FTX’s sister hedge fund at least a staggering $200 million.
In a series of posts on X (Twitter), titled ‘The Hacks,’ the whistleblower revealed, “poor security practices...
LayerZero goes live on OpBNB
12.10.2023
LayerZero Labs has announced that applications built on BNB Chain can now be expanded to OpBNB. New applications will not have to do a lot; however, existing applications that have already integrated the BNB Chain will have to expand their horizons following the announcement. OpBNB is a layer-2...
TON Foundation Aims to Secure Guinness World Record as the World's Fastest Blockchain
12.10.2023
On October 11, the Open Network Foundation (TON Foundation) announced its participation in a Guinness World Records-approved competition to claim the title of "world's fastest blockchain." The public network performance test is slated to take place on October 31, 2023, at 15:00 UTC. During this...
Avalanche-based Star Arena Recovers 90% of Hacked Funds, Offers 10% Bounty
12.10.2023
On-chain social platform, Star Arena has announced a recovery of assets drained from its platform over the weekend following an agreement with the hacker.
In a post on X (formerly Twitter), the platform disclosed that 90% of user assets have been recovered while the hacker was offered a...
Japanese Firms to Use Digital Currency for Clean Energy Certificate Settlements
12.10.2023
A consortium of Japanese firms is set to launch a yen-based digital currency, "DCJPY," by July 2024, that will be used in transaction and settlement of clean energy certificates.
Cryptocurrency exchange DeCurret revealed the issuance of a new digital currency today that will be used by various...
Parsec Crypto Analytics Firm Raises $4 Million in Investment Round Led by Uniswap and Billionaire Novogratz’s Galaxy Digital
12.10.2023
Pro on-chain DeFi and NFT analytics platform Parsec has secured $4 million in an investment round.
Sharing the news on X, the crypto-facing analytics platform revealed that the investment round was led by billionaire pro-crypto investor Mike Novogratz’s Galaxy Digital.
Other key investors...
Federal Judge Orders Mediation for BlockFi and Three Arrows Capital Dispute Over $284 Million Payments
12.10.2023
A US bankruptcy judge, in order to resolve the legal battle over a significant $284 million claim by bankrupt crypto hedge fund Three Arrows Capital (3AC) against crypto lender BlockFi, has ordered them to enter mediation....
Read More: Federal Judge Orders Mediation for BlockFi and Three Arrows...
Stellar Partners With Certora for Security Checks on Soroban Smart Contracts
11.10.2023
The Stellar Development Foundation (SDF) has announced its initiation of security checks for Soroban, the advanced smart contract platform within the Stellar network. This is in anticipation of Soroban's launch.
To carry out these comprehensive security audits, SDF has teamed up with Certora,...
EU’s Securities Regulator Weighs In On The Risk and Benefits of DeFi to the Economy
11.10.2023
The European Securities and Market Authority (ESMA) has released a report on the development of decentralized finance (DeFi) and the risk posed by growing adoption.
In a report released on Oct 11, the 22-page document highlights the risks posed by a sector that holds much promise and reshaped...