Everything web3, crypto, defi, degen
In brief ASIC has released an updated version of Info Sheet 225, expanding how financial-services laws apply to digital assets, including stablecoins, staking, and tokenized products. The guidance introduces new custodial standards and 18 classification examples while reaffirming that Australian law applies to offshore and decentralized platforms serving local users. The update aligns with Treasury’s…
In brief Mt. Gox was the world’s largest Bitcoin exchange until it shut down in 2014 after discovering large-scale BTC thefts. Some 850,000 Bitcoin was stolen over the course of years due to a vulnerability in Bitcoin’s code. After Feds recovered 140,000 BTC in 2023, repayments to Mt. Gox users are finally underway… but the…
Western Union will release a stablecoin via the Solana blockchain in 2026, the company said Tuesday.The international payments firm said in a joint announcement with the Solana Foundation that the new digital token will be called USDPT and issued by Anchorage Digital Bank.”Western Union will provide users with access to digital assets, and we look…
In brief A “runaway bot” drove Hyperliquid’s HYPE token to $98 on Lighter DEX, highlighting thin liquidity risks on DEXs. One trader claimed to have profited to the tune of $600,000 during the anomaly. The DEX erased the price wick from its front end, sparking a debate around data transparency. A “runaway bot” triggered a…
In brief Circle launched the public testnet for Arc, its Layer-1 blockchain network, with participation from over 100 companies including BlackRock, Visa, Goldman Sachs, AWS, and major crypto exchanges like Coinbase and Kraken. The blockchain is designed as an “Economic Operating System” featuring dollar-based fees, sub-second transaction finality, and optional privacy for financial applications like…
In brief Kalshi has filed a federal lawsuit against New York regulators seeking to block the state from treating its sports prediction markets as illegal gambling. The suit came after an October 24 cease-and-desist letter from New York’s gaming commission threatening civil penalties unless Kalshi halted sports-event contracts. Judge Andrew P. Gordon previously denied Crypto.com’s…
In brief Crypto exchange Gate is adopting an “All in Web3” strategy to position itself as a “full Web3 operating system,” CEO Dr. Han told Decrypt. The platform has launched a suite of products designed to form a “cohesive, secure, and high-performance Web3 stack.” Gate has added a Perp DEX, tokenized stocks, on-chain token launchpad…
In brief Argentines swapped pesos for dollar stablecoins on Sunday, as locals expeted ARS to plummet during the midterm elections. President Javier Milei faced a make-or-break election amid declining approval ratings tied to corruption scandals. As the results became clear, a LATAM crypto app recorded its highest-ever volume in a single hour as the peso…
In brief Defunct crypto exchange Mt. Gox has pushed its repayment deadline back to October 31, 2026, per a court notice. Around 19,500 creditors have been repaid so far, while many remain pending. Early repayment news sparked selloffs, but later delays drew little reaction, showing greater market resilience. Mt. Gox’s court-appointed rehabilitation trustee has postponed…
In brief India’s Madras High Court ruled Friday that crypto constitutes property protected under constitutional law, blocking WazirX from reallocating user assets under its Singapore restructuring plan. Justice N. Anand Venkatesh granted an injunction protecting 3,532 XRP tokens, rejecting the exchange’s “socialization of losses” scheme following the July 2024 hack that drained $234 million. The…
