Key Insights: Rain Crypto Exchange confirms no customer losses following a $14.8 million theft, ensuring continued secure services and full fund safety. Enhanced security measures implemented swiftly by Rain post-breach to protect against future threats, maintaining trust and compliance standards. Rain collaborates with global law enforcement to track stolen funds and culprits after the security … Read more
Key Insights Canadian regulators fined Binance $4.3 million for not registering as a foreign money services business and neglecting transaction reporting. FINTRAC discovered that Binance failed to report 5,902 cryptocurrency transactions exceeding $10,000 from June 2021 to July 2023 using blockchain tools. The fine aligns with Canada’s ongoing efforts to regulate crypto exchanges amid similar … Read more
Key Insights LocalMonero, a platform allowing users to trade Monero anonymously, will soon shut down, impacting privacy-focused cryptocurrency trading. The exchange, known for not requiring ID verification, will disable new trades and remove its website by November 2024. Despite its closure, the LocalMonero team remains optimistic about Monero’s future, citing ongoing developments and new decentralized … Read more
Key Insights: Tether Holdings Limited achieved a historic $4.52 billion net profit in Q1 2024, marking a significant increase from the previous quarter. Over $12.5 billion in USDT was issued in the first quarter, emphasizing Tether’s strong position in the stablecoin market. BDO’s attestation confirms that 90% of Tether-issued tokens are supported by cash equivalents, … Read more
Key Insights: Renzo’s REZ token has captured a $289 million market cap immediately following its community-focused airdrop event. Trading volumes for REZ soared to $75 million within an hour of release, signaling strong investor interest and market activity. Liquid restaking protocol Renzo has launched its native REZ token, which quickly reached a $289 million market … Read more
Key Insights: Terraform Labs proposes a $1 million penalty, countering the SEC’s initial $5.3 billion fine demand. Terraform argues that the funds in question are held by Luna Foundation Guard and are not subject to SEC claims. Ripple also counters SEC with a significantly lower fine suggestion, proposing $10 million against $2 billion. In a … Read more
Key Insights: Ripple collaborates with HashKey DX to deploy XRP Ledger-based solutions in Japan, enhancing enterprise blockchain applications. Through the partnership, SBI Group will be the first in Japan to implement these new blockchain-powered supply chain finance solutions. HashKey DX’s proven supply chain solutions, successful in China, will now support Japanese businesses in collaboration with … Read more
Key Insights: MicroStrategy now controls 214,400 Bitcoins, purchasing an additional 122 for $7.8 million as of April 2024. Q1 2024 saw MicroStrategy achieve a gross profit of $85.2 million, marking a 74.0% gross margin despite revenue decline. Despite operational losses, MicroStrategy continues its aggressive Bitcoin acquisition, reflecting confidence in its digital asset strategy. MicroStrategy, a … Read more
Key Insights: Russia’s cryptocurrency ban targets all forms, allowing only locally issued digital assets starting in September. The Russian government aims to protect the ruble’s role as the sole currency through restrictive cryptocurrency regulations. Digital rubles and specific central bank projects will be exempt from Russia’s comprehensive cryptocurrency ban. Russia is set to introduce a … Read more
Key Insights: USDC’s transaction volume reached $456 billion last week, vastly outpacing USDT’s $89 billion. Despite a higher circulation of USDT, USDC dominates 50% of the total stablecoin transactions in 2024. Visa’s partnership with Circle since 2020 has contributed to the increased use of USDC for transactions. Visa has recently reported that Circle Internet Financial’s … Read more
Key Insights: Australia’s ASX is expected to approve its first spot Bitcoin ETFs by 2024, aligning with global cryptocurrency trends. BetaShares and VanEck lead preparations for new cryptocurrency funds, targeting Australia’s $2.3 trillion pension market. Earlier efforts on CBOE Australia saw limited success, prompting a shift to the larger ASX for better exposure and inflows. … Read more
Key Insights: Io.net detected a SQL injection breach affecting GPU metadata during a surge in API write operations. Remedial actions included SQL injection checks and the deployment of user-specific authentication solutions. Despite the attack, Io.net’s hardware remains secure, safeguarded by robust permission layers. Io.net, a key player in decentralized physical infrastructure, recently faced a cybersecurity … Read more
Key Insights: Franklin Templeton listed its spot Ether ETF on DTCC, signaling steps toward regulatory acceptance. The SEC has extended the review period for Franklin’s ETF to June 11, citing the need for a thorough evaluation. Industry leaders express mixed optimism about the approval of Ether-based ETFs amidst regulatory hesitancy. Franklin Templeton listed its new … Read more
Key Insights: Consensys asserts that Ethereum should remain unregulated by the SEC, claiming it functions more like a commodity. The SEC’s aggressive stance towards Ethereum could halt its use in the U.S., impacting numerous sectors. Consensys initiated legal action to prevent SEC from classifying Ethereum-related applications as securities. Today, Consensys took a significant step to … Read more