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Read More »Prime Trust Lost $8M in Doomed Terra Stablecoin Investment, CEO Says
Law, who took his role on Nov. 29 after serving on the board, also cited a January 2021 incident in which customers were told to send funds to the wrong wallet, inaccessible to the company, after which the company had to spend $76 million to buy ether (ETH) to fund …
Read More »FTX, BlockFi’s Customer Data Compromised in Kroll Hack
Kroll, which did not immediately respond to a request for comment from CoinDesk, is a bankruptcy service provider for numerous companies, not just in the crypto sector. Kroll’s website also promotes a cybersecurity consultancy service, involving “elite cyber risk leaders uniquely positioned to deliver end-to-end cyber security services worldwide.”
Read More »Weird PEPE Transfers Spook Crypto Investors and Prompt Meme Coin’s 15% Plunge
Over 16 trillion tokens flowed out of the PEPE multisig wallet midday Thursday on its way to addresses associated with Binance, OXK, and Bybit. That action came shortly after on-chain sleuths noted troubling changes to the oversight of how that vault-like wallet handles transaction approvals.
Read More »Top PEPE Holder Floods Exchanges With Meme Coin, Spooking Investors and Prompting 12% Plunge
Millions of dollars worth of the PEPE meme coin flooded crypto exchanges Thursday, spooking investors who drove its price down and drawing attention to spooky action in the project’s multisig, among the single-largest holders of the joke cryptocurrency.
Read More »Tornado Cash Devs Are Caught in a U.S. Dragnet
Should the Romans get in trouble anyway? Isn’t that quite a dangerous machine they built? And couldn’t they have tried to put in an off switch? To the extent that Russian nationals, Storm and Semenov, broke U.S. law by neglecting the appropriate know-your-customer (KYC) or anti-money laundering (AML) protections and …
Read More »After GOP Debate, Blockchain Bettors See Ramaswamy as Most Formidable Trump Challenger
In betting markets, the higher it costs to vote in favor of a given outcome, the more likely that outcome is considered. On Polymarket, it currently costs 71 cents to bet in favor of a second Trump nomination and 32 cents to bet against. In practical terms, what this means …
Read More »Fiduciary Duty During Uncertain Times
The ultimate proof of the mainstreaming of cryptocurrency as an investable asset class is the approval of regulated products and services. The first crypto fund prospectus accepted by a North American securities regulatory authority was in 2019, when the Ontario Securities Commission approved a bitcoin ETF managed by 3iQ, a …
Read More »Binance’s Ether Futures See Lowest Open Interest Since July 2022
Ether’s global estimated leverage ratio, calculated by dividing the dollar value locked in the active open perpetual futures contracts by the total number of coins held by derivatives exchanges, has declined from a multi-month high of 0.28 to 0.22. Bitcoin’s ratio has slid from 0.27 to 0.21, the lowest since …
Read More »Sam Bankman-Fried’s Lawyers Given Green Light for Unlimited Prison Visits
According to the order, Bankman-Fried’s lawyers “can take unlimited advantage of the legal visitation hours” at the Metropolitan Detention Center (MDC) in Brooklyn, New York to prepare their client for a weeks-long trial slated to begin Oct. 3. Bankman-Fried will have “frequent access” to a computer to review discovery materials, …
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