Everything web3, crypto, defi, degen
In brief In a report Monday, the Bank of Korea challenged the notion that technology alone can ensure currency stability. The central bank cited depegging risks, noting that major stablecoins like USDC fell to $0.88 during Silicon Valley Bank’s 2023 collapse. Meanwhile, South Korean companies are advancing won-pegged stablecoin pilots, including BDACS’s successful KRW1 test…
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 Four altcoin-tracking ETFs are set to begin trading in the U.S. this week. Canary Capital’s Litecoin and Hedera funds will be listed, alongside Bitwise and Grayscale Solana funds. The debuts follow successful Bitcoin and Ethereum spot ETF rollouts in 2024. Four exchange-traded funds tracking separately Solana (SOL), Litecoin (LTC), and Hedera (HBAR) will…
In brief Senators Elizabeth Warren and Adam Schiff plan to introduce a resolution condemning President Trump’s pardon of Binance founder Changpeng “CZ” Zhao. The pardon has angered Democrats, given Zhao’s past guilty plea for failing to prevent money laundering on Binance and his business ties to the Trump family’s crypto firm, World Liberty Financial. Though…
In brief IBM is launching a platform called Digital Asset Haven with support from crypto infrastructure firm Dfns. The platform will help governments and institutions engage with blockchain in what it says is a simple, secure platform. Shares of IBM are up modestly amid the news. Global computing firm IBM is making a fresh play…
In brief A report from the U.S. and other Western nations has found that North Korea is becoming more systematic and sophisticated in its crypto-hacking activities. Yet one contributor to the report, Chainalysis, indicates that Western agencies and firms are increasingly adapting to the growing threat. North Korea’s hacking activities have been supplemented in recent…
In brief Rumble is working with Tether to incorporate Bitcoin tipping in its video sharing platform. The firm adopted a Bitcoin treasury strategy and purchased its first tranche earlier this year. Shares of Rumble (RUM) fell slightly on Friday, now down more than 45% year-to-date. Publicly traded video sharing platform Rumble is integrating Bitcoin tipping,…
In brief Electronic Arts entered a strategic partnership with Stability AI to help power game development. Krafton also said this week that it’s becoming an “AI-first” company and using AI to transform its workflows. Generative AI is being widely adopted across the video game industry, despite concerns from players and developers. Two gaming industry giants…
In brief Five individuals have pleaded guilty in connection with FireBunnyUSA, a dark web vendor that distributed cocaine, MDMA, and ketamine between 2019 and 2022. Ringleader Nan Wu received a 6 1⁄2 year prison sentence and was ordered to forfeit 20 BTC, 3,297 XMR, and $12,857 in cash. The ring converted Monero into Bitcoin and…
In brief Interpol and Afripol have arrested 83 individuals as part of an operation combating terrorism financing, while flagging $260 million in illicit crypto and fiat. The operation included participation from private partners such as Binance, which provided blockchain data and forensic tools. Crypto is increasingly featuring in cybercrime in Africa, according to Interpol, but…
