Category: crypto

The hacker who stole $230 million from WazirX is close to laundering the funds, with $6 million left, mainly using Tornado Cash. The breach compromised over 45% of WazirX’s reserves. The exchange is facing criticism for its crisis management and transparency, complicating its recovery efforts and raising security concerns.

The UAE stands out in crypto growth, receiving over $30 billion from July 2023 to June 2024, driven by regulatory innovation, institutional interest, and market activity. Its DeFi adoption exceeds the global average, with 32.4% of transactions via decentralized exchanges. Regulatory bodies are fostering a balanced, protective environment for crypto businesses.

On September 24, Ether.fi faced an attempted domain takeover via Gandi.net’s recovery process. The team quickly verified and locked their account, restoring security and confirming no internal breach occurred. Thanks to Gandi’s rapid response and existing security measures, user funds remained safe, with more details to follow.

Spot Bitcoin ETFs have gathered over 900,000 BTC since their launch, approaching the 1 million BTC mark, which is just 17% shy of Satoshi Nakamoto’s estimated holdings. The largest holders are BlackRock’s iShares Bitcoin Trust, Grayscale’s ETFs, and Fidelity’s FBTC, accounting for nearly 86% of US-traded ETF holdings.

Circle has launched the Compliance Engine, an automated tool for businesses to meet regulatory requirements in the digital asset space. It streamlines compliance with features like real-time transaction screening and Travel Rule adherence. This innovation positions Circle as a trusted partner in regulatory compliance amid evolving regulations and challenges in the industry.

BlackRock’s Robbie Mitchnick criticizes the crypto industry’s depiction of Bitcoin as a “risk-on” asset, likening it to an “own goal.” He argues Bitcoin’s properties differ fundamentally from equities, making it a unique global monetary alternative. Its correlation with stocks is low, often misunderstood by media, creating confusion among investors.

BitcoinOS (BOS) has released BitSNARK, a zero-knowledge proof protocol that enables direct zk-SNARK verification on Bitcoin’s mainnet, enhancing its privacy, scalability, and smart contract features. This innovation, which doesn’t alter Bitcoin’s core protocol, promotes decentralized applications and cross-chain interoperability, positioning Bitcoin as a more versatile blockchain platform.

Economists, including Marx, have critiqued money’s societal role, linking it to human alienation. Tulle aims to transform value exchange by combining AI and blockchain, enabling efficient asset-based transactions. This system seeks to reduce money’s dominance, fostering personalized exchanges while maintaining monetary functionality, addressing long-standing economic concerns.

During a congressional hearing, SEC Chair Gary Gensler faced criticism for his agency’s lack of clear cryptocurrency regulations. Lawmakers emphasized the need for robust consumer protection and questioned “regulation by enforcement.” Despite concerns over the FIT 21 Act and tokenization clarity, Gensler maintained existing laws sufficiently protect investors.

Brighty is a dedicated crypto banking platform designed for startups, enabling seamless management of fiat and crypto assets. It offers features like 0% commission investment fund accounts, efficient KYC compliance, and crypto payment solutions, helping businesses easily accept investments and manage expenses while fostering financial transparency and growth.