Category: crypto

In September, over 10,000 crypto users lost $46 million to phishing scams, bringing Q3 losses to $126 million. A significant incident involved a $32 million theft from a wallet. Phishing tactics typically deceive victims into revealing sensitive information via malicious URLs. Experts stress that these scams remain a persistent threat.

Coinbase will remove non-compliant stablecoins from its platform in the EEA by year-end to align with EU’s Markets in Crypto-Assets regulations. These rules, effective Dec. 31, mandate stablecoin issuers to gain e-money authorization. Coinbase supports MiCA-compliant stablecoins and has designated Ireland as its compliance hub. Other exchanges are taking similar actions.

Hong Kong Virtual Asset Exchange (HKVAX) has received licensing from the SFC to operate a virtual asset trading platform, making it the city’s third licensed crypto exchange. Specializing in Security Token Offerings and Real-World Asset tokenization, HKVAX aims to enhance financial innovation and liquidity, contributing to Hong Kong’s position as a global financial hub.

AlphaBitcoin’s performance has evolved as the US labor market stabilizes post-pandemic. The financial landscape is shifting, positioning Bitcoin from an alternative asset to a key investment staple, reflecting changing investor perspectives and increased acceptance within traditional financial frameworks.

VanEck is optimistic about Bitcoin, citing strong macroeconomic support and $1.2 billion in institutional inflows, leading to a 7.7% increase in September. In contrast, Ethereum struggles with market share and declining fees, despite a slight recovery. Layer-1 blockchains like Sui and Aptos also showed strong performance during the month.

Bitwise plans to transition three Bitcoin and Ethereum futures ETFs to rotate between crypto and US Treasuries, aiming to optimize risk-adjusted returns based on market trends. The new strategy will employ a trend-following approach, while keeping expense ratios and tax treatments unchanged for current investors. Adjustments are expected by December 3.

Standard Chartered views Bitcoin’s drop below $60,000 as a buying opportunity despite ongoing geopolitical tensions affecting prices. The bank’s researcher, Geoffrey Kendrick, noted that while Bitcoin doesn’t serve as a safe haven like gold, it could thrive amid potential financial instability, especially with shifting US election dynamics favoring Trump.

In September, venture capital funds invested over $659 million in crypto startups, a 3% increase from August. Infrastructure projects dominated with $457 million, while blockchain gaming attracted $63 million, largely fueled by Balance Games. DeFi funding dropped 55% to $58 million, with Tune.fm raising $50 million for Web3 services.

The 2024 US presidential election race remains competitive, with Donald Trump and Kamala Harris tied at 50% in Polymarket predictions. Recent legal developments against Trump, including allegations of planned election fraud, have not significantly impacted his odds. Polymarket continues to see increased activity as the election approaches.

The DOJ and SEC support a class-action lawsuit against Nvidia for allegedly misleading investors about crypto mining’s impact on revenues in 2017/2018. They argue evidence warrants reviving the case. Investors claim Nvidia’s CEO downplayed reliance on crypto, while Nvidia counters that the data used by investors is fabricated.