Category: crypto

R2 Protocol launched its mainnet on Ethereum, offering a decentralized yield platform for real-world assets. However, their account on X was suspended just after the launch. This comes amidst X’s investigation into a bribery network involving crypto scams. The suspension raises questions about the future of R2 Protocol.

SWIFT is working with BNY Mellon and BNP Paribas to test blockchain messaging on ConsenSys’ Ethereum layer 2, Linea. The project follows SWIFT’s tokenization trials in 2023 and aims to support digital asset tests in 2025. A successful rollout could result in faster settlement and lower costs for cross-border payments.

SoftBank Group and Ark Investment Management are considering joining Tether Holdings’ major funding round, potentially valuing the stablecoin giant at $500 billion. Tether plans to use the funds for expansion into artificial intelligence and energy initiatives. The company is also launching a U.S.-regulated stablecoin called USAT.

Leaked documents reveal that Ilan Shor’s A7 group used $8 billion in stablecoins to evade sanctions and manipulate politics in Moldova. The files show ties to Russia’s Promsvyazbank and the creation of a ruble-backed stablecoin to bypass sanctions. A7 facilitated billions in cross-border transactions using a mix of cash, notes, and cryptocurrency.

Smart Digital Group’s stock collapsed by 87% after announcing plans to establish a diversified cryptocurrency asset pool targeting Bitcoin and Ethereum. This move diverged from market trends, with similar announcements typically resulting in stock surges. Regulators are investigating trading activity in companies adopting crypto treasury strategies, adding systemic risk to such moves.

Naver Financial plans to acquire Dunamu through a stock swap, making it the owner of Upbit. This merger will create a super app combining Naver Pay and Upbit’s services. The companies have a history of collaboration and are now focusing on launching a Korean won-backed stablecoin to dominate the domestic market.

UXLINK is making progress in recovering from a hack that compromised millions of its tokens. The protocol has finalized a new smart contract for token swaps. Legally held tokens will be swapped on a 1:1 basis, with efforts to recover stolen funds ongoing. A compensation plan for affected users has been outlined.

t’order, South Korea’s largest table ordering service, has partnered with Sui to develop a stablecoin infrastructure for commercial applications nationwide. The platform will use a won-pegged stablecoin, integrated with t’order’s technologies, to provide seamless payments. This collaboration aims to improve the consumer experience and target South Korea’s food service market.

ZachXBT claims that North Korean IT workers are responsible for at least 25 incidents of hacking and ransomware exploitations in the crypto industry. They have been warned against hiring North Korean IT workers who may have nefarious intentions. North Korean hackers have also been using USDC for illicit payments, posing a threat to crypto firms.…

Nine European banks are collaborating to launch a euro stablecoin to challenge the dominance of the U.S. dollar in the stablecoin market. The project aims to create a MiCA-compliant stablecoin backed by the euro, with a predicted market cap of up to $1 trillion. The consortium plans to apply for an e-money license from the…