Category: crypto

On October 18, Coinbase submitted two FOIA requests to clarify regulatory conditions for crypto in the U.S. One seeks details about a 15% deposit cap on digital asset firms, while the other aims to understand how agencies handle FOIA requests. Coinbase also pursues transparency from the SEC regarding enforcement actions.

Transak, a fiat-to-crypto service provider, experienced a data breach affecting over 92,000 users due to a phishing attack. Personal details, including names and IDs, were compromised, but no financial information was affected. The company is notifying impacted users and has reported the breach to relevant authorities, highlighting crypto industry security challenges.

Stripe acquired stablecoin platform Bridge for $1.1 billion, over five times its valuation, to enhance stablecoin adoption and facilitate global transactions. The acquisition follows recent market growth, with stablecoins reaching $8.5 trillion in transactions. Industry leaders believe this move will significantly boost the stablecoin landscape and integrate it into mainstream finance.

US crypto industry donations exceeded $190 million in the current election cycle, a significant increase from $15 million in 2020. Nearly half of corporate donations are from this sector, aiming to influence regulatory policies. Bipartisan support is evident, particularly through the pro-crypto PAC, Fairshake, which contributed heavily to both parties.

A new crypto project, $WAP, on the Solana blockchain, is gaining traction with support from rapper Cardi B. Aiming to revolutionize crypto payments via its “Moonshot” credit card solution, $WAP fosters a strong community despite facing misinformation. The project’s light-hearted ethos is symbolized by Cardi’s new kitten mascot.

Solana-based memecoin platform Pump.fun announced a new token and potential airdrop after a record week. They introduced Pump Advanced, a trading terminal with integrated features and 0% fees for the first month. Co-founder Sapijiju hinted at the future token market launch, continuing the platform’s success in meme coin creation.

Bitwise CEO Hunter Horsley explained the lower trading volumes of recently launched Ethereum ETFs compared to Bitcoin’s. Key factors include their summer launch during a slow investment period and a flat market. Despite struggles, funds from Bitwise, BlackRock, and Fidelity are among the fastest-growing ETFs, with significant net inflows.

The UK’s Financial Conduct Authority (FCA) defends its stringent crypto regulations, emphasizing the need to prevent money laundering. Despite claims that tough rules hinder innovation, FCA’s Val Smith asserts that robust oversight protects markets. Recent data shows a significant drop in crypto applications approved, reflecting industry frustrations with the regulatory environment.

Japan’s National Police Agency arrested 18 individuals linked to a Monero (XMR) scam, including ringleader Yuta Kobayashi, after analyzing about 900 fraudulent transactions. The investigation, revealing Monero’s traceability, coincided with proposals to reduce crypto taxes from Yuichiro Tamaki, indicating Japan’s evolving approach to digital asset regulation and innovation.

Ledn reported processing $506 million in loans in Q3, with institutional loans at $437.7 million and retail loans up 225% year-over-year at $68.9 million, driven by the Celsius refinancing program and crypto ETFs. Year-to-date, Ledn has facilitated $1.67 billion in loans, citing rising demand due to economic conditions.